TORONTO, March 11, 2019 /CNW/ – 48North Cannabis Corp. (“48North” or the “Company”) (TSXV:NRTH) is pleased to announce that its wholly-owned subsidiary Good & Green, a licensed cannabis producer under the Cannabis Act, received its Standard Processing License (“Processing License”) from Health Canada on March 8, 2019.
This is 48North’s second Processing License from Health Canada; the Company’s first Processing License was granted for its Delshen Therapeutics facility in Kirkland Lake, On. This additional license solidifies 48North’s ability to launch next-generation cannabis products for retail sale in fall 2019.
Pending Health Canada approval, 48North will be one of the first Licensed Producers in Canada to have an outdoor cannabis farm (“The Good Farm”) expected to produce over 40,000 KG of dried cannabis, from over 3.7 million sq. ft. of cultivation space, at a low-cost. 48North plans on using the majority of this significant production volume for extracted, value-added products.
The Processing License at Good & Green, located 10-minutes away from The Good Farm, successfully guarantees 48North’s ability to extract and process its sun-grown organic cannabis for next-generation cannabis products.
Good & Green’s Processing License further expedites 48North’s ability to produce and develop next-generation cannabis products earmarked for sale in fall 2019. Coming on the heels of 48North’s previously announced licensed agreements with U.S.-based brands like Mother & Clone and Avitas, the Company is now fully-licensed to bring next-generation, market-leading cannabis products to Canadian consumers in time for the next phase of legalization.
Jeannette VanderMarel, co-CEO of 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 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, both Licensed Producers under the Cannabis Act. In addition, 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).