female – MJ Shareholders https://mjshareholders.com The Ultimate Marijuana Business Directory Fri, 22 Mar 2019 12:18:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 Yield Growth Achieves Revenue of $3.1 Million for Its Fiscal Year Ended November 30, 2018 https://mjshareholders.com/yield-growth-achieves-revenue-of-3-1-million-for-its-fiscal-year-ended-november-30-2018/ Fri, 22 Mar 2019 12:18:06 +0000 https://www.cannabisfn.com/?p=2335485 VANCOUVER, British Columbia, March 22, 2019 (GLOBE NEWSWIRE) — The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF) (Frankfurt: YG3) on a consolidated basis (the “Company”) has released its financial and operational results for the year ended November 30, 2018.  These filings are available for review on the Company’s SEDAR profile at www.sedar.com.

UPDATE ON CASH POSITION

The Company received warrant and stock options exercises during the first quarter of 2019 for total proceeds in excess of $3.7 million.  As at February 28, 2019, the Company had a cash balance of approximately $3.7 million.

FINANCIAL PERFORMANCE

The Company realized revenue of $3,055,442 for the twelve months ended November 30, 2018 as compared to nil for the prior year.  The revenue included consulting revenue of $1,098,364 under Thrive Activations Inc. (“Thrive”) and licensing revenue of $1,957,078 under Urban Juve Provisions Inc. (“Urban Juve”) for manufacturing and distribution rights licensed to third parties for the Canadian, US and certain European markets.

The Company incurred net loss of $9,708,037 for the twelve months ended November 30, 2018 as compared to $1,229,685 for the prior year.  However, many of the expenses incurred in 2018 were one-time and non-recurring expenses or were non-cash expenses not affecting cash flow.  The adjusted earnings before interest, taxes, depreciation and amortization, excluding certain non-operating amounts as shown below (the “Adjusted EBITDA”) was negative $2,504,577 for the twelve months ended November 30, 2018.

The increase in loss was primarily driven by increased stock-based compensation for stock options granted to directors, officers, employees, consultants, and advisors, and consulting fees and wages for development activities and to build up internal capacity to launch Urban Juve and other product lines.

The Company was at the final stage of its initial public offering as at November 30, 2018 and incurred material amount of expenses during the year in professional fees, share-based compensation, office expenses, and other fees that are one-time and non-recurring in nature.  The Company also incurred loss from investments in joint venture of $2,367,766 and loss from termination and amendment of licensing agreements of $1,447,572, and neither of these losses are expected to occur in the future.    

Selected information for the years ended November 30, 2018 and 2017

2018 2017
Revenues 3,055,442
Net loss 9,708,037 1,229,685
Basic and diluted loss per share 0.13 0.12
Total assets 2,612,345 2,782,713
Dividends declared and paid out

Adjusted EBITDA for the years ended November 30, 2018 and 2017

2018 2017
Net loss for the year   (9,708,037 ) (1,229,685 )
Add:
Depreciation   20,985   239
Interests
Taxes
Adjustments:
Share-based compensation   3,663,470   89,908
Unrealized gain on short-term investments at fair value through profit and loss   (296,333 )
Loss from investments in joint venture   2,367,766   –
Loss from termination and amendment of licensing agreements   1,447,572
Adjusted EBITDA   (2,504,577 ) (1,139,538 )

Adjusted EBITDA, a measure used by management to indicate operating performance, is defined as earnings before interest, taxes, depreciation and amortization, excluding certain non-operating amounts as shown below. Adjusted EBITDA is not a recognized term under IFRS and is not intended to be an alternative either to gross profit or income before taxes as a measure of operating performance or to cash flows from operating activities as a measure of liquidity.  Additionally, Adjusted EBITDA is not intended to be a measure of free cash flow available for discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. The Company uses Adjusted EBITDA to supplement IFRS results to provide a more complete understanding of the factors and trends affecting the business than IFRS results alone. Because not all companies use identical calculations, the presentation of Adjusted EBITDA may not be comparable to other similarly titled measurements used by other companies. Readers should not consider Adjusted EBITDA in isolation or as a substitute for profit (loss) for the period as determined by IFRS, or as a substitute for an analysis of our Financial Statements.

UPATE ON OPERATIONS

Yield Growth has five wholly owned subsidiaries, Urban Juve, UJ Topicals, UJ Beverages Inc. (“UJ Beverages”), Yield Botanicals Inc. (“Yield Botanicals”) and Thrive Activations Inc.

Urban Juve

Urban Juve is an Ayurveda-inspired skin care and beauty brand that rejuvenates and nourishes from within: spirit to skin. Urban Juve’s key ingredient – cannabis sativa hemp root oil – combines with natural and pure essential oil-based formulations to create quality products that are now available online and are available at select retail stores across Canada.

As the Company’s flagship, Urban Juve is a bold brand rooted in the organic synthesis of ancient knowledge and modern techniques to create exceptional beauty and wellness solutions. Ayurvedic knowledge delineates three general categories or skin types, which Urban Juve has translated as Vitalize, Balance and Align, each with its own dedicated range of skin and body care formulations. Urban Juve has created unique formulas for more than 70 beauty and wellness products, has registered with Health Canada 35 products containing cannabis sativa hemp seed oil and hemp root oil and has filed 11 provisional patent applications in the United States.

The first eleven Phase I products have been launched through Urban Juve’s ecommerce website and over 70 retail stores across Canada have agree to carry the Urban Juve line.

Urban Juve is continuously developing new products and expects to launch over 20 additional products through 2019.  It has licensed the use of all of its formulas to UJ Topicals and the right to combine the formulas to create products containing cannabis.

UJ Topicals

Pursuant to its agreement with a licensed cannabis processing facility in Oregon, UJ Topicals’ products will be launching 9 cannabis products under the brand name “Wright and Well” in the Oregon legal cannabis market.  UJ Topicals expects to launch these first 9 products in Oregon in the second quarter of 2019.

UJ Beverages

UJ Beverages has completed the acquisition of eight wellness beverage formulas designed to be infused with CBD and THC and one capsule product intended to treat hangovers.
The formulas have been developed to offer various health benefits, including an energy boost, hangover treatment, brain function boost, anxiety reduction, improved immunity, toxin removal and reduced inflammation. The formulations were developed in India and are based on Ayurvedic medicine using botanicals, fruit extracts and spices.

Yield Botanicals

On March 12, 2019, Yield Botanicals entered an agreement with Vandenbosch Trading Company Ltd. to purchase a 10-acre property in Chilliwack, B.C., Canada. The purchase includes over 2.5 acres (approximately 100,000 square feet) of well-equipped and automated greenhouses, currently operating as an orchid flower grow and essential oil extraction business. The purchase price is $2.4 million subject to closing upon building inspection satisfactory to Yield Botanicals.

This strategic asset purchase will allow the Company to grow plants and build out extraction facilities in the existing infrastructure, while providing plenty of room for future expansion.  Owning a farm will give Yield Botanicals complete control of key proprietary ingredients for its products, including hemp root oil. The purchase will also empower the Company’s in-house research capabilities for growth and innovation.

The Company is also planning to optimize the farm’s current orchid growth and essential oil extraction to include new products. It plans to set up an additional extraction facility dedicated to hemp root oil—a key ingredient in Urban Juve products and in the cannabis topicals line launching in Oregon. Subject to acquiring the appropriate licenses, Yield Botanicals may also apply to cultivate industrial hemp for the purpose of hemp root oil extraction, and to carry out research and development to create cannabidiol from the parts of the hemp plant exempt from the Cannabis Act. The farm facilities will allow Yield Growth to grow herbs currently used in the Urban Juve product line, and extract essential oils on site, according to the Ayurveda philosophy.

Thrive

Thrive provides cutting-edge technology and marketing solutions to businesses.  Thrive was created to make technology solutions accessible to businesses looking for a competitive advantage. Thrive provides technology advisory, marketing and other business incubation services to other businesses.  Currently Thrive has two corporate clients.

About The Yield Growth Corp.

The Yield Growth Corp. is disrupting the global wellness market with hemp and cannabis-infused products that connect ancient healing with modern science. It is a vertically-integrated asset company with the leadership, financial position, and science-backed formulas to capitalize on the cannabis revolution. The Yield Growth management team has deep experience with relevant global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy, Aritzia, Coca-Cola, and Pepsi Corporation.  Yield Growth serves mainstream, luxury consumers who demand sophisticated wellness solutions.   Its flagship consumer brand, Urban Juve, has registered 35 products with Health Canada and has signed 70 retail locations to sell its products. Key ingredients in these products include Cannabis Sativa hemp seed oil and hemp root oil created using Urban Juve’s proprietary, patent-pending extraction technology. Urban Juve has also filed 11 provisional patents in the United States.  Through its subsidiaries, Yield Growth is commercializing over 70 wellness and cosmetic products and has multiple revenue streams including licensing, incubation services and product sales.

For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #findyourjuve across social platforms to learn, engage and shop.

Investor Relations Contacts:

Penny Green, President & CEO
Kristina Pillon, Investor Relations

[email protected]

1-833-514-BOSS   1-833-514-2677
1-833-515-BOSS   1-833-515-2677

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation.  Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.  Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, intellectual property protection, and sale of, and demand for, Urban Juve, UJ Topicals, UJ Beverages and Yield Botanicals products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets.  Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/02a45234-e6e1-47a6-80cd-82e1197bb362

Primary Logo

Yield Growth Corp. FISCAL YEAR ENDED NOVEMBER 30, 2018

FISCAL YEAR ENDED NOVEMBER 30, 2018

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Yield Growth Announces 9 new products, pass stability testing https://mjshareholders.com/yield-growth-announces-9-new-products-pass-stability-testing/ Thu, 27 Dec 2018 16:13:33 +0000 http://www.cannabisfn.com/?p=2135252

Ryan Allway

December 27th, 2018

News, Top News


VANCOUVER, British Columbia, Dec. 27, 2018 (GLOBE NEWSWIRE) — The Yield Growth Corp. (CSE:BOSS) announces that the following 9 new products have completed stability and preservative challenge tests in accordance Health Canada regulations:

  • Sunscreen
  • Pain balm
  • Sports spray
  • Topical analgesic
  • Sexual lubricant
  • Lip gloss
  • Vitalize body exfoliant
  • Balance body exfoliant
  • Align body exfoliant

All of these products contain hemp root oil, which is produced with a proprietary patent pending extraction method. Urban Juve has filed 11 US provisional patents to protect its extraction method and formulas. Yield intends to infuse some of these products with THC and CBD and distribute them in Oregon through its recently announced distribution agreement.

With the completion of the stability testing on 9 new products, Yield subsidiaries Urban Juve and UJ Topicals expect to have at least 22 different products for sale in the US and Canada by April 2019.

Cosmetics and personal care products are subjected to a variety of different tests prior to being sold in the marketplace. Specific testing includes the evaluation of product stability for microbiological or chemical contamination. Preservatives help prevent the growth of microbiological contamination after production and protect the product from deterioration.

Stability testing provides the evidence for the quality of the product under different environmental factors like temperature, humidity and light to determine and confirm a suitable shelf life and product expiration date.

About The Yield Growth Corp.

The Yield Growth Corp. is a diverse team of business executives dedicated to rapid, sustainable financial growth of cannabis assets. Its directors and officers have experience at multi-billion dollar international companies including M.A.C Cosmetics, Aritzia, Skechers, Best Buy, Future Shop, Pepsi and Coca-Cola.

Urban Juve Provisions Inc., which has a catalogue of more than 50 wellness formulas, is wholly owned by Yield Growth. Urban Juve organically synthesizes ancient knowledge and modern techniques to create exceptional beauty and wellness solutions. Ayurvedic knowledge delineates three general categories or skin types. Urban Juve has translated these as Vitalize, Balance and Align, each with its own dedicated range of skin and body care formulations. Urban Juve has registered with Health Canada 26 products containing cannabis sativa hemp oil. The company has also filed 11 provisional patent applications in the United States. Urban Juve’s skin care products are sold in Canada, with distribution agreements signed for markets in the United States and Italy. Urban Juve has licensed its formulas to Yield Growth wholly owned subsidiary UJ Topicals Inc., which is launching its cannabis topicals line in Oregon, U.S.A. through a sales channel of 400 licensed cannabis retailers.

For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram. Visit www.urbanjuve.com and #findyourjuve across social platforms to learn, engage and shop.

Investor Relations Contacts:

Penny Green, Director, President & CEO
Kristina Pillon, Investor Relations
invest@yieldgrowth.com
1-833-514-BOSS   1-833-514-2677
1-833-515-BOSS   1-833-515-2677

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, intellectual property protection, and sale of, and demand for, Urban Juve and UJ Topicals products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially.  The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/8d7e4ef9-5864-48fe-9156-041c02939799

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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48North Cannabis Corp. Announces Transformational Acquisition and $10MM Private Placement https://mjshareholders.com/48north-cannabis-corp-announces-transformational-acquisition-and-10mm-private-placement/ Tue, 30 Oct 2018 16:36:27 +0000 http://www.cannabisfn.com/?p=1815302

TORONTO, Oct. 30, 2018 /CNW/ – 48North Cannabis Corp. (“48North” or the “Company”) (TSXV:NRTH) and 2599708 Ontario Inc. (“Good & Green”) have entered into a letter agreement that became binding on October 29, 2018, whereby 48North will acquire all of the issued and outstanding common shares of privately-held Good & Green in an all-share transaction valued at $18,000,000 (the “Acquisition”). 48North is also pleased to announce a $10,000,000 non-brokered private placement of units, including an approximately $7,000,000 lead order from a leading US-based private investment fund (the “Financing”).

With the Acquisition, 48North acquires a second Licensed Producer, as defined under the Cannabis Act, positioning itself as one of the largest and lowest cost producers of dried cannabis, cannabis oil, as well as a leader in next-generation cannabis infused products including cosmetics, topicals, beverages, and edibles.

The Acquisition provides 48North with a total expected 2019 production of at least 45,000 kilograms of high-quality dried cannabis, assuming receipt of applicable regulatory approvals. Good & Green’s cultivation and production facilities include an approximately 46,000 square foot indoor facility situated on five-acres of commercial land in Brantford, Ontario, as well as a 100-acre farm in Southwest Ontario. This significant production footprint includes 48North’s existing 2019 indoor expected production of 2,500 kilograms from DelShen Therapeutics Corp., the Company’s existing wholly-owned Licensed Producer.

“We are excited to acquire Good & Green, a company that shares our corporate values, strong management, and commitment to financial discipline,” said Alison Gordon, Chief Executive Officer of 48North. “With now two licensed facilities, we are optimally positioned for the next phase of cannabis legalization with extensive cultivation experience in large-scale, low-cost production.”

“48North continues to be a leader in developing cannabis brands and products with a future-focus that looks beyond flower and oil,” said Jeannette VanderMarel, co-founder and President of Good & Green. “We look forward to adding our expertise and significant low-cost organic production profile to further develop this dynamic and innovative vertically-integrated cannabis company.”

“We are pleased to be combining forces with 48North, a company that shares our commitment to the highest environmental, social and governance standards, to developing high-quality and consistent products and to achieving best-in-class financial performance,” said Daniel Goldberg, co-founder and Chief Executive Officer of Good & Green.

After closing of the Acquisition, Alison Gordon and Jeannette VanderMarel will become co-CEOs of 48North. Ms. VanderMarel will also join the Board of Directors of 48North. Daniel Goldberg will become Senior Advisor of 48North and will focus on strategy, business and corporate development, strategic partnerships, communications, as well as investor and government relations.

The Acquisition is expected to be completed through a three-cornered amalgamation whereby 48North will acquire 100% of Good & Green’s outstanding common shares from Good & Green’s shareholders in exchange for $18,000,000 of common shares (totalling 24,567,534 common shares) of 48North at a price of $0.73 per common share. 48North and Good & Green have agreed to a mutual break fee of $750,000. The Acquisition is expected to close on or before November 30, 2018 and is subject to, among other conditions, TSX Venture Exchange approval.

Acquisition Highlights

  • Further Strengthens a Values-Based Vertically-Integrated Cannabis Company: 48North is a vertically-integrated cannabis company focused on building strong brands and developing innovative, next-generation cannabis products. The Acquisition provides a significant increase in indoor and low-cost outdoor cannabis production, a substantial expansion into organic cannabis production, and further strengthens 48North’s brand portfolio.
  • Second Licensed Indoor Cultivation and Manufacturing Facility: The Acquisition provides an additional ~46,000 square feet of licensed indoor cultivation and manufacturing facility, situated on five-acres of land in Brantford, Ontario. This site has an initial production area of ~14,000 square feet with another ~25,500 square feet immediately available for additional indoor cultivation, pre and post-production, laboratory, large-scale extraction, as well as next-generation product, research, development and manufacturing. The Brantford indoor facility is expected to produce 2,500 kilograms of dried cannabis in 2019.
  • Low-Cost 100-Acre Outdoor Cultivation Site to Provide an Expected 40,000 Kilograms of Organic Dried Cannabis in 2019: The Acquisition provides 48North with a 100-acre organic farm situated in close proximity to the indoor Brantford, Ontario facility. This is in addition to 48North’s existing licensed facility in Kirkland Lake, Ontario. The farm is expected to produce at least 40,000 kilograms of dried cannabis in 2019. This includes outdoor grow with a targeted per gram production cost of $0.25, at a cost basis which is a fraction of the current, lowest-cost producer. Good & Green submitted a cultivation license application to Health Canada in relation to the farm in October 2018 and expects to receive that license by May 2019. The farm will provide 48North with organic, sun-grown cannabis and provides a significant first-mover advantage in the production of low-cost, next-generation, extract-based cannabis products.
  • Enhanced Management Team: Good & Green’s strong management team has best-in-class cultivation, facility development and construction, government relations, marketing, and branding experience, as well as M&A and corporate development capabilities. Good & Green’s senior team have all been involved in the MMPR/ACMPR/Cannabis Act since its inception. Together they have 12-plus years of experience and have developed over a million square feet of federally-licensed cannabis cultivation space.
  • Strong Access to and Immediate Availability of Capital: The concurrent Financing provides capital and liquidity to support the continued expansion of both companies, including the development of Good & Green’s 100-acre farm and large-scale extraction capabilities to significantly increase 2019 production and facilitate the rapid development of innovative, next-generation cannabis products.
  • Complementary Portfolio of Brands: The Acquisition provides 48North and Good & Green with the opportunity to leverage a combined portfolio of authentic, socially responsible, high-quality cannabis brands. The diversity and range of brands will increase access to multiple demographic segments through complimentary values-driven brands including 48North, Good & Green, Latitude and Mother & Clone.
  • Enhanced Liquidity and Continued Participation in Future Growth: Good & Green shareholders, through their ownership of 48North shares, will have the opportunity to participate in the growth of 48North and will benefit from the enhanced prospects of the combined company. The Acquisition will provide substantial infrastructure and operational support to accelerate the growth strategy of both companies with a focus on future product development and innovation.

Concurrent Non-Brokered Private Placement
Concurrent with the Acquisition, 48North is pleased to announce the Financing, for minimum gross proceeds of $10,000,000. In connection with the Financing, 48North is expected to issue Preferred Units and Common Units.

Each Preferred Unit will, subject to shareholder approval, be comprised of one Preferred Share and one quarter of one Preferred Share Purchase Warrant (each whole Preferred Share Purchase Warrant, a “Preferred Warrant”). In connection with issue of the Preferred Shares, the Company is expected to seek shareholder approval to permit the creation of the Preferred Shares at its upcoming Annual General Meeting, expected to be held on January 2, 2019 (the “AGM”).

The Preferred Shares will be convertible into Common Shares of the Company and will rank parri passu with the Common Shares in all respects, other than the holder’s right to redeem at par if certain provisions concerning confidentiality and restrictions against unlawful U.S. operations are breached by 48North. Additional information with respect to the Preferred Shares will be provided in the meeting materials to be delivered to shareholders of the Company in connection with the AGM.

Each Common Unit will be comprised of one Common Share and one quarter Common Share Purchase Warrant (each whole Common Share Purchase Warrant, a “Common Warrant”). Each full Common Warrant will entitle the holder to acquire an additional Common Share of 48North for a period of 12 months from the date of issue at a strike price of $1.15, provided that, the expiry of the warrants can be accelerated if the closing price of the company’s common shares on the TSX Venture Exchange (“TSXV”) is at least $1.50 for a minimum of 10 consecutive trading days and a notice of acceleration is provided in accordance with the terms of the warrant, may accelerate the expiry date to the warrants to a date 30 days after the date of the notice.

The Preferred Warrants will have the same terms as the Common Warrants but be exercisable for a Preferred Share instead of a Common Share.

Certain of the Units issued in the Financing may be subject to a four-month hold period under provincial securities laws in Canada and the TSXV policies and may be subject to additional resale restrictions based upon the jurisdiction in which the purchaser is resident.

The Financing is expected to close in tranches, with the Common Unit tranche of the Financing expected to close on or about November 30, 2018, and the Preferred Share tranche of the Financing expected to close in early January 2019.

The Acquisition is at arm’s length and definitive documentation is expected to be signed ahead of closing, scheduled for November 30, 2018.

About 48North Cannabis Corp.
48North Cannabis Corp. is a TSXV listed company who cultivates premium dried flower to create next-generation cannabis products for the health and wellness market. Assets include a cultivation, sales and extraction license by Health Canada,unique genetics sourced from MariPharm B.V. in the Netherlands, a large- scale, low-cost, sun-grown 100-acre outdoor farm; two modern indoor licensed cultivation and production facilities; and partnerships with leaders in cannabis, manufacturing and consumer packaged goods. 48North also has a growing portfolio of brands that include Latitude: a women’s cannabis platform (explorelatitude.com), Good & Green: a socially-responsible, organic cannabis brand (goodandgreen.com) and Mother & Clone: a rapid-acting sublingual cannabis nanospray (momandclone.com).

About Good & Green
Good & Green is a federally licensed, socially responsible, organic cannabis company co-founded by Jeannette VanderMarel (co-founder The Green Organic Dutchman) and Daniel Goldberg (formerly PharmaCan, Macquarie, CIBC, and National Bank). The company is focused on developing high quality, consistent, homogeneous organic cannabis and cannabis products. Good & Green operates from a 46,000 square foot indoor facility situated on five acres of land in Brantford, Ontario. Good & Green has also applied for a cultivation license for its 100-acre farm in southwest Ontario, which is capable of producing at least 40,000 kg of dried cannabis. The company anticipates beginning production on the farm in the early spring of 2019.

Good & Green’s Advisory Panel includes Trina Fraser (Partner, Brazeau Seller LLP), Steve Kroft (CEO, Conviron), Anita Wortzman (President, Farmers Edge), and Dr. Gillian Davidson (CEO, Wild Horse Consulting Ltd.).

DISCLAIMER & READER ADVISORY

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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 belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Forward looking statements in this news release include statements relating to the expected benefits of the Acquisition. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including the possibility that the Acquisition will not be completed, or that 48North may not derive the expected benefits from the Acquisition described in this news release. Additionally, this release contains forward-looking information relating to the Financing, including the timing and ability of the Company to obtain an outdoor cultivation license through Health Canada, close the Financing, if at all, the gross proceeds of the Financing, and the timing and ability of the Company to obtain all necessary approvals, including shareholder approval of the creation of the Preferred Shares. The business of the Company is subject to a number of material risks and uncertainties. Please refer to the Company’s SEDAR filings for further details. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the Company being able to obtain the necessary corporate, regulatory and other third parties approvals, and licensing and other risks associated with the Cannabis Act. 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.

SOURCE 48North Cannabis Corp.
View original content: http://www.newswire.ca/en/releases/archive/October2018/30/c8690.html

please contact: Heidi Christensen Brown, 48North Investor Relations, christensenbrown@national.ca; David Hackett, Chief Financial Officer, 48North, IR@48nrth.com; Daniel Goldberg, CEO, Good & Green, info@goodandgreen.comCopyright CNW Group 2018

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