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TORONTO, June 11, 2018 /CNW/ - 48North Cannabis Corp. ("48North" or "the Company") (TSXV: NRTH) is announcing that the Company's common shares will commence trading following the opening of the market today on the TSX Venture Exchange ("TSXV") under the new symbol "NRTH."
"48North is a future-focused company on track to serve the female health and wellness cannabis market with innovative next generation products and brands," said Alison Gordon, Chief Executive Officer of 48North. "As Canada's first female CEO of a now publicly-traded licensed producer of cannabis, 48North will provide an intrinsic and authoritative view to a valuable demographic that is currently underserved in this industry."
"In addition to our market position, we have an exciting and unique strategy that aims to leverage 48North's cultivation facilities with our expertise in the consumer packaged goods space," continued Ms. Gordon. "The TSXV was built to facilitate entrepreneurial companies like us and within this reputable and highly regulated environment, our public listing will increase visibility and access to capital, while providing liquidity for our shareholders."
48North cultivates high quality cannabis with unique genetics from the Netherlands. With a business strategy in place to leverage intellectual property and formulations, as well as partner with existing U.S. and global brands, the goal is to have licensed CPG products available in retail upon legalization of adult recreation in accordance with the Cannabis Act.
48North's TSXV listing follows the completion of the Company's qualifying transaction. Please refer to the Company's press release dated June 5, 2018, for further detail.
48North Cannabis Corp. is a TSXV Venture Exchange listed company whose wholly owned subsidiary DelShen Therapeutics Corp. ("DelShen"), is a licensed producer of medical cannabis in Canada. 48North grows unique genetics sourced from MariPharm B.V., a Netherlands-based phytopharmaceutical company with over 25 years of experience in the research and cultivation of cannabis for medical purposes. Its genetics are grown to exacting standards, ensuring patients can count on receiving the highest-quality cannabis products.
DelShen is regulated by the Access to Cannabis for Medical Purposes Regulations ("ACMPR") and the facility is located on 800-acres of owned land near Kirkland Lake, Ontario. DelShen's license to produce cannabis was granted on Feb. 28, 2017, and pertains to the facility, a state-of-the-art, closed-box, 40,000-square-foot building with an additional 200,000 square feet of production space planned within the current security perimeter.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended.
There can be no assurance that such forward-looking statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE 48North Cannabis Corp.
For further information: please contact: 48North Investor Relations, Heidi Christensen Brown, (416) 848-1389, [email protected]; David Hackett, Chief Financial Officer, 48North, [email protected], 416 639 5891 ext 304