TORONTO, May 15, 2019 /CNW/ – 48North Cannabis Corp. (“48North” or the “Company”) (TSXV:NRTH) announced today that it has signed a supply agreement with Alberta Gaming, Liquor & Cannabis (“AGLC”), Alberta’s wholesaler of recreational cannabis. 48North’s supply agreement with AGLC was signed on May 15, 2019, and pertains to calendar year 2019.
Under the supply agreement, 48North will supply AGLC with 2,460 kilograms of dried cannabis from its outdoor farm in Brant County, Ont., (“Good Farm”) and other cannabis products such as pre-rolls from its indoor facilities in Brantford, Ont., (“Good House”) and Kirkland Lake, Ont. (“DelShen Therapeutics”).
Pending Health Canada approval, Good Farm is expected to produce an estimated 40,000 kilograms of organic, sun-grown cannabis, from more than 3.7 million sq. ft. of outdoor cultivation space. In early May, the Company received its Confirmation of Readiness from Health Canada for its Good Farm application and is well-prepared to harvest cannabis outdoors in 2019.
48North is looking forward to delivering high-quality, sun-grown, sustainable and organic cannabis to the Alberta cannabis market. Through today’s historic agreement, the first to supply outdoor grown cannabis to Alberta, 48North has taken another meaningful step to respond to market demand and provide a reliable and environmentally sustainable source of production for Alberta.
Jeannette VanderMarel, co-CEO of 48North
This supply agreement marks the Company’s second supply agreement with a provincial distributor for outdoor-grown cannabis. 48North signed an agreement with the Société québécoise du cannabis (SQDC) for 1,200 kilograms of dried cannabis from its Good Farm in February 2019.
Together with its two licensed indoor facilities, 48North’s proposed organic outdoor cannabis farm further cements the Company’s position as an industry leader with respect to the development and distribution of next-generation cannabis products.
48North Cannabis Corp. (TSXV: NRTH) is a vertically integrated cannabis company focused on the health and wellness market through cultivation and extraction, as well as the creation of innovative, authentic brands for next-generation cannabis products. 48North is developing formulations and manufacturing capabilities for its own proprietary products, as well as positioning itself to contract manufacture similar products for third parties. 48North operates two indoor-licensed cannabis production sites in Ontario with more than 86,000 square feet of production capacity. 48North cultivates unique genetics at its wholly owned subsidiaries, DelShen Therapeutics Corp. (“DelShen”) and 2599760 Ontario Corp. dba Good & Green (“Good & Green”), both Licensed Producers under the Cannabis Act. In addition, subject to Health Canada approval, 48North expects to operate a 100-acre organic farm providing 48North with organic, sun-grown cannabis securing a significant first-mover advantage in the production of low-cost, next-generation, extract-based cannabis products. 48North has a growing portfolio of brands that include Latitude, a women’s cannabis platform (explorelatitude.com); Mother & Clone, a rapid-acting sublingual cannabis nanospray (momandclone.com); and Avitas, a single-strain vaporizer cartridge (avitasgrown.com).