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TORONTO, Sept. 20, 2018 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH) is announcing the completion of Phase I of its project to bring its top performing cannabis cultivars to the Canadian market. Following the importation of 6,650 cannabis seeds from Netherlands-based MariPharm B.V., the Company embarked on a project to select and cultivate its most promising phenotypes at the Company's wholly-owned licensed facility, DelShen Therapeutics Corp. ("DelShen") located in Kirkland Lake, Ontario.
Phase I cultivars:
- Girl Scout Cookies
- Granddaddy Purple
- Green Crack
- Kosher Kush
- Power Plant
- High CBD
"The DelShen production team has been working hard over the past year to cultivate top cannabis strains and we are happy with the results our first round of testing has shown," said Kevin Helfand, Chief Operating Officer at 48North. "We are seeing high yields for certain cultivars and we now have multiple high tetrahydrocannabinol ("THC") strains being grown. As the legalization of adult recreational cannabis approaches, we are fulfilling our commitment to grow unique genetics of the highest quality to suit our future customers' varying demands."
Completing this project has allowed the DelShen grow team to analyze its genetic library, use expert data analytics, and select phenotypes with a wide range of cannabinoids and terpenes that are underrepresented in the current Canadian market.
Phase II of the phenotype selection project will be to re-test the new cultivars after some additional flowering time to optimize both yields and resin profiles. "Our lab results indicate sufficient cannabigerolic acid to anticipate higher resin profiles," continued Mr. Helfand. "We believe the Green Crack, a sativa dominant hybrid, can consistently express over 25 percent THC content and the Kosher Kush can yield over 200 grams of dried cannabis per plant with some additional data analysis. Once this phase is completed, we will decide which cultivars to put into full-scale production, as well as commence Phase III, the phenotype selection of the other cultivars we have in our genetic library, including Amnesia, Gorilla Glue #4 and Super Silver Haze."
48North Cannabis Corp. ("48North") is a TSX 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 and the facility is located on 800-acres of owned land near Kirkland Lake, Ontario. DelShen's license to produce cannabis was granted on February 28, 2017, its cannabis sales license was granted on June 25, 2018, and its extraction license to produce cannabis oils was granted on September 13, 2018, and pertain to the facility, a state-of-the-art, closed-box, 40,000-square-foot building.
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The business of the Company is subject to a number of material risks and uncertainties. Please refer to the Filing Statement and other SEDAR filings for further details. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the Company being able to obtain the necessary corporate, regulatory and other third parties approvals, and licensing and other risks associated with regulated ACMPR entities. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE 48North Cannabis Corp.
For further information: Heidi Christensen Brown, 48North Investor Relations, (416) 848-1389, [email protected]; David Hackett, Chief Financial Officer, 48North, (416) 639-5891 ext 304, [email protected]