48North Expects to Begin Outdoor Cultivation in June

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48North Provides Update on its 100-acre Outdoor Farm Application

TORONTO, Jan. 24, 2019 /CNW/ – 48North Cannabis Corp. (“48North” or the “Company”) (TSXV:NRTH) is pleased to announce that it has submitted its site evidence package to Health Canada in connection with its license application, submitted in October 2018, for the Company’s 100-acre outdoor farm in Brant County, Ontario.

The farm site evidence package is a Health Canada pre-licensing requirement. It provides Health Canada with comprehensive evidence confirming that 48North has successfully built-out the security provisions on its farm, as outlined in its license application, including but not limited to security fencing, cameras, and intrusion and access control. 48North has proactively taken this step to reaffirm its commitment and preparedness to begin cultivating outdoor-grown organic cannabis in June 2019.

The farm site evidence package was produced and developed under the direct supervision of David Hyde, President of 3|Sixty Secure Corp. (CSE: SAFE), the leading Canadian security and licensing consulting firm in the regulated cannabis sector in Canada and abroad.

48North is excited to be leading the way on outdoor cultivation and are committed to developing a best in class licensed farm.

Jeannette VanderMarel, co-CEO of 48North

48North’s outdoor farm provides a substantial source of production which can meaningfully assist in solving the current supply shortage facing the regulated cannabis industry. We look forward to continuing to work with Health Canada on the licensing process and are keen to begin cultivating outdoors in June 2019.

In addition to 48North’s 5,000 kg of indoor grown production in Kirkland Lake and Brantford, Ontario, 48North expects to cultivate 40,000 kg of dried organic cannabis, from over 3.7 million sq. ft. of outdoor cultivation space. This capacity puts 48North in line with some of the largest producers of cannabis in the country.

Together with its two licensed indoor facilities, 48North’s 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.

Note about Outdoor Production

Pending Health Canada’s approval, in 2019 48North expects to cultivate and process 40,000 kg of dried cannabis from its 100-acre outdoor farm. The operational costs of the farm are fully-funded and are projected to be significantly less than the production costs of current licensed indoor or licenced greenhouse cultivation facilities.

About 48North

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 positioning itself to contract manufacture similar products for third parties. 48North operates two indoor-licensed cannabis production sites in Ontario with over 86,000 square feet of production capacity. 48North cultivates unique genetics at its wholly-owned subsidiaries, DelShen Therapeutics Corp. (“DelShen”) 2599760 Ontario Corp. dba Good & Green (“Good & Green”), both Licensed Producers under the Cannabis Act. In addition, 48North operates a 100-acre organic farm providing 48North with organic, sun-grown cannabis and 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) and Mother & Clone, a rapid-acting sublingual cannabis nanospray (momandclone.com).

Original Press Release

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Published by NCV Newswire
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