TORONTO, Nov. 1, 2019 /CNW/ – 48North Cannabis Corp. (“48North” or the “Company”) (TSXV: NRTH) is pleased to announce that Alan Gertner has been appointed to the Company’s Board of Directors, effective immediately.
Mr. Gertner, an industry leader with a track record of excellence, has held a series of executive positions in the cannabis sector. Most recently, Alan served as the Chief Retail Officer of Canopy Growth Corporation where he managed the development and deployment of Canopy’s brands across North America and internationally. Before joining Canopy, Alan founded Hiku (“Tokyo Smoke”) a cannabis brand and retailer that was acquired by Canopy for $600 million.
“48North is honoured to welcome Alan to our Board of Directors,” said Alison Gordon, CEO of 48North. “Alan’s experience in cannabis will be of significant value to the Company as we continue on our journey to become one of the most well-known, respected, and beloved cannabis brands. Alan’s finger is on the pulse of the cannabis industry both domestically and internationally, his experience in building successful brands and executive experience at the world’s largest cannabis company will be critical to the future success of 48North.”
“I am truly excited to be joining 48North’s Board of Directors as 48North has quickly become one of Canada’s leading and most recongnized cannabis brands. I believe strongly in the Company’s laser-focus on building trust with consumers and developing innovative next-generation cannabis products for the health and wellness market. I look forward to supporting the Company as it strategically enters the burgeoning U.S. cannabis market and cementing its position in the Canadian landscape,” said Alan Gertner, 48North Board Member.
48North announced today that Jeannette VanderMarel has resigned from the Company’s Board of Directors.
48North has granted an aggregate of 200,000 stock options (each an “Option”) to certain directors, officers, and employees of the Company. The Options vest through the passage of time or the achievement of specific goals. The specific goals for the Options vary based upon the duties and responsibility of the recipient. Each Option is exercisable into one common share (“Share”) of the Company at a price of $0.60 per Share for a period of three years from the date of grant. All of the Options have been granted pursuant to the Company’s Stock Option Plan which has been previously approved by the Company’s shareholders and the TSX Venture Exchange.
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 Good:Farm, a 100-acre organic cannabis farm which produces organic, sun-grown cannabis, securing a significant first-mover advantage in the production of low-cost, next-generation, extract-based cannabis products. In addition, 48North 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”), both Licensed Producers under the Cannabis Act. 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); Avitas, a single-strain vaporizer cartridge (avitasgrown.com) and Quill, a leader in the manufacturing of beautifully designed, lifestyle-focused and sleek vape products (quill.me).
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.