TORONTO, March 1, 2021 /CNW/ - 48North Cannabis Corp.
("48North" or the "Company") (TSXV: NRTH) is pleased to announce
the appointment of Sean Byrne as
Chief Financial Officer, effective immediately.
Sean brings to 48North significant experience from the Canadian
cannabis industry and other consumer packaged goods industries.
Sean's experience includes executive positions with several
US-multinational companies, including Thermo Fisher Scientific, RR
Donnelley and ScottsMiracle Gro. More recently, Sean served
as CFO at Waterloo Brewing from 2013-2018 and as CFO for Newstrike
Brands from 2018 through to the sale of the company to Hexo Corp.
(TSX: HEXO) in 2019.
"48North remains steadfast in its commitment to drive revenue
for its products while significantly lowering fixed costs. 48North
views increased revenues, improved margins, stronger cash flows,
and a shorter cash conversion cycle as the key elements to
near-term profitability. Sean will be responsible for driving this
strategy across our Company. His deep and extensive experience in
leading the financial operations of successful businesses will
undoubtedly accelerate 48North's pathway to profitability," said
Charles Vennat, CEO of 48North.
I also want to take the time to thank Donnacha Rahill for his
committed service as interim-CFO, his exceptional contributions
were notable. Donnacha will remain with the Company for a period of
time to support Sean as he is brought up to speed," continued
Charles.
Sean noted, "I could not be more excited. The cannabis category
is still in the early innings, and there is significant opportunity
for those with the right approach. I have no doubt that 48North is
well positioned to win in the marketplace. My experience in
regulated industries – alcohol and cannabis – will help to ensure
48North continues on its aggressive plans for growth and
profitability. Strong brands, disciplined and professional
execution, with a passionate and committed team. Clearly a winning
formula."
About 48North
48North Cannabis Corp. is a brand-led vertically integrated
Licensed Producer focused on manufacturing high-quality products,
nurturing progressive and thought-provoking brands, and low-cost
cultivation. 48North operates Good:Farm, a 100-acre organic
cannabis farm which produces organically grown cannabis, securing a
significant first-mover advantage in the production of low-cost,
next-generation, extract-based cannabis products. In addition, the
Company operates two indoor-licensed cannabis production sites in
Ontario. 48North cultivates unique
genetics at its wholly owned subsidiary, DelShen Therapeutics Corp.
("delshen") and processes cannabis and manufactures next-generation
cannabis products at Good & Green Corp. ("Good:House"). 48North
has an industry leading commercialization process, turning raw
biomass into high-quality finished product with distribution and
market share across the country.
48North has a growing portfolio of brands that includes:
48North, an innovative and high-quality cannabis brand focused on
sustainability; Latitude, a next-generation lifestyle cannabis
platform focused on sexual wellness, beauty and beyond; Trail Mix,
an accessibly priced recreational cannabis brand that leverages
biomass from the Company's outdoor cannabis farm, and two-licensed
U.S. brands Avitas and Apothecanna. In addition, 48North operates
Good & Green Manufacturing Corp., a state-of-the-art cannabis
processing, manufacturing, packaging, and distribution hub for the
Canadian cannabis industry. In operation since 2017, Good
& Green Manufacturing Corp. has successfully launched over 50
products – ranging from vapes, pre-rolls, hash, flower, solventless
extracts – in the recreational marketplace.
DISCLAIMER & READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. 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
beliefs or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. Please refer
to the Company's SEDAR filings for further details concerning the
risks associated with the Company's business. 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.
Public health crises, including the ongoing novel coronavirus
(COVID-19) pandemic, could have significant economic and
geopolitical impacts that may adversely affect the Company's
business, financial condition and/or results of operations.
SOURCE 48North Cannabis Corp.