48North Cannabis (TSXV:NRTH) announced a supply agreement with Good & Green, an organic cannabis late-stage applicant with the ACMPR.
As quoted in the press release:
Under the terms of the Agreement, signed September 28, 2018, 48North will pay Good & Green $1,500,000 in exchange for 6,000 kilograms of organically sun-grown, dried cannabis, as permitted under the Cannabis Act, for use in extraction, to be delivered on or before December 31, 2019.
This Agreement follows 48North’s announcement that it received a supplemental license from Health Canada for the extraction and production of cannabis oil and marks another key milestone towards the Company’s commitment to produce second-generation cannabis products focused on the women’s health and wellness market. The additional access to 6,000 kilograms of dried cannabis significantly increases 48North’s ability to produce low-cost, extracted cannabis products, including the recently announced licensing deal with Mother & Clone’s proprietary, rapid-absorption, sublingual nanospray.
“We look forward to collaborating with Good & Green given their extensive experience in the production of organically grown cannabis,” said Alison Gordon, Chief Executive Officer at 48North. “This arrangement provides 48North with a meaningful amount of organically sun-grown cannabis, which is essential to developing second-generation products.”