Delta 9 Achieves Milestone in Agreement with Micro Cultivation Partner
05 March 2021 - 10:00AM
DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) ("Delta 9" or the
"Company"), is pleased to announce that it has completed its final
services milestone under an agreement with Alberta based Micro
Cultivation partner, Fourth Generation Cannabis Ltd. (“4th Gen”).
4th Gen is an arm’s length third party in which the Company has no
ownership control or interest.
As one of Delta 9’s Micro Cultivation partners,
4th Gen entered into a Strategic Cooperation Agreement (“SCA”) with
the company whereby Delta 9 provides services relating to the
cannabis production, development of standard operating procedures
and sanitation programs, consulting on Health Canada licensing,
marketing services to develop the 4th Gen brand and other services
supporting the acquisition of the Health Canada license.
On February 26, 2021, 4th Gen confirmed it had
reached its final milestone under the SCA and has been granted its
cannabis micro cultivation licenses from Health Canada (the “Health
Canada License”).
“We are delighted that Fourth Generation
Cannabis has received a Health Canada License for twelve of our
proprietary and turn-key Grow Pod systems and has future plans to
apply for three more Health Canada licenses to expand their
operations to include another thirty-six Grow Pods,” said John
Arbuthnot, CEO of Delta 9. “Our turn key platform for Grow Pods and
services continues to prove one of the best options for cannabis
industry entrepreneurs seeking licensing and support services.”
The Company's cannabis production methodology is
based around a modular, scalable, and stackable production unit
called a "Grow Pod", which are based on retrofitted 40-foot
shipping containers. The turn key smart growing platforms are
developed using precision hardware and software grow applications
for the indoor cannabis cultivation marketplace. Delta 9 offers
vertical growing units, integrated grow racks, and LED grow lights;
and non-proprietary products designed, engineered, and manufactured
by third parties, such as air cleaning systems and automated
fertigation and watering systems.
4th Gen’s facility has been designed using this
turn key and state of the art Grow Pod system. Once cultivation is
harvested, Delta 9 plans to purchase the premium quality cannabis
products from 4th Gen for sale through the Company's established
wholesale distribution network across Canada and through Delta 9's
branded retail stores in Western Canada. Delta 9 has now
successfully licensed over 100 Grow Pods in third party facilities
across Canada.
“Fourth Generation Cannabis is a privately owned
cannabis cultivator based in the Southern Region of Lethbridge,
Alberta, where around 75% of Canada’s beef production originates
from,” said Austen Murray, President of Fourth Generation Cannabis.
“Our goal is to produce the finest quality cannabis product to
compliment Delta 9’s portfolio of flower products being sold in
their retail stores.”
The Fourth Generation Cannabis owners operate a
1,200-acre irrigated farm where they also manage 10,000 head of
cattle. Brothers, Austen Broek and Reid Murray are experienced
farmers who are excited to be a part of a new and growing industry.
They became interested in growing cannabis to produce a premium
cannabis crop year-round and provide additional jobs in southern
Alberta.
The well-rounded 4th Gen Team has a strong
industry background. The master grower has been growing high grade
medical cannabis for over 15 years in BC and the office manager has
over 30 years’ experience in the health care industry. The 4th Gen
team is committed and passionate about growing premium craft
cannabis and looks forward to rooting a leading craft cannabis
company in Alberta.
For more information contact:
Investor & Media
Contact:Ian Chadsey VP Corporate
AffairsMobile:
204-898-7722E-mail: ian.chadsey@delta9.ca
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated
cannabis company focused on bringing the highest quality cannabis
products to market. Delta 9's wholly-owned subsidiary, Delta 9
Bio-Tech Inc., is a licensed producer of medical and recreational
cannabis and operates an 80,000 square foot production facility
in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a
chain of retail stores under the Delta 9 Cannabis Store brand.
Delta 9's shares trade on the Toronto Stock Exchange under the
symbol "DN" and on the OTCQX under the symbol "VRNDF". For more
information, please visit www.delta9.ca.
Disclaimer for Forward-Looking Information
Certain statements in this release are
forward-looking statements, which reflect the expectations of
management regarding the Company's future business plans and other
matters. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future.
Forward looking statements in this news release
include statements relating to: (i) 4th Gen's proposed micro
cultivation operations; (ii) Delta 9's intention to sell 4th Gen's
premium cannabis products; and (iii) Delta 9's development of micro
cultivation services. Such statements are subject to risks and
uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements, including 4th Gen’s cannabis production not being as
anticipated, as well as all risk factors set forth in the annual
information form of Delta 9 dated March 19, 2020 which
has been filed on SEDAR.
No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if
they do occur, what benefits the Company will obtain from them.
Readers are urged to consider these factors carefully in evaluating
the forward-looking statements contained in this news release and
are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these
cautionary statements. These forward-looking statements are made as
of the date hereof and the Company disclaims any intent or
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws.
Delta 9 Cannabis (TSX:DN)
Historical Stock Chart
From Apr 2024 to May 2024
Delta 9 Cannabis (TSX:DN)
Historical Stock Chart
From May 2023 to May 2024