DELTA 9 CANNABIS INC. (TSXV: NINE) (“Delta 9” or the “Company”) is pleased to announce it has come to terms on a $12,000,000 loan and credit facility with a Tier 1 Canadian chartered bank (the “Bank”). The name of the Bank is not being released at this time as a non-disclosure agreement is in effect until the signing of a definitive loan agreement.

Under the terms agreed to between Delta 9 and the Bank, there will be four separate loan segments, each of which is allocated for a different purpose, and each with its own terms:
  1. A demand operating loan of $2,000,000 to be used to finance day-to-day operations. Interest will float at a rate of 1.00% per annum above the Bank’s prime lending rate, which at the current time is 3.45% per annum.
  2. A demand revolving loan of $4,500,000 which is intended to assist in financing the purchase of Delta 9’s current production facility. Interest will initially float at 1% above prime, but the Bank will use its best efforts to obtain funds on a fixed rate acceptable to Delta 9 and the Bank, which is intended to be at between 4.68% per annum for a one year term up to 5.45% per annum for a five year term.
  3. A demand non-revolving loan of $4,500,000 to assist in the purchase of lands adjacent to the Company’s current production facility. Interest will float at a rate of 1.00% per annum above prime, with fixed rate pricing subject to negotiation up to the date of draw down.
  4. A non-revolving credit facility of $1,000,000 for the purchase or lease of equipment required for the operation of the Company’s business. Interest will float at a rate of 1.75% above prime, with fixed rate pricing to be the subject of negotiation up to the date of draw down.

“We are very pleased to have reached agreement on this loan facility,” said Delta 9 CFO Brent Bottomley. “Our Company is aggressively expanding to increase our reach in Canada and abroad, although equity markets for cannabis issuers in general have pulled back from highs reached early in 2018. In order to preserve shareholder value over the long term, it was important to us to find a non-dilutive source of capital to help finance our growth.”

Delta 9 CEO John Arbuthnot says the loan agreement marks a shift in the thinking of chartered banks about the cannabis industry.

“This agreement shows real confidence in our Company’s business operations, but also a shift in attitude toward our entire industry, as we approach the full legalization of recreational cannabis in October,” Arbuthnot says. “More importantly, this debt facility combined with our $23 million prospectus financing which closed last December makes us fully funded for the execution of our business plan in 2019.”

The closing of the definitive loan agreement is subject to final due diligence by the Bank.

About Delta 9 Cannabis Inc.

Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical marijuana pursuant to the ACMPR and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9’s shares trade on the TSX Venture Exchange under the symbol “NINE”.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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) the completion of the credit facility agreement with the Bank; (ii) the terms of the credit facility, including interest rates; (iii) property and equipment acquisitions by Delta 9; and (iv) cannabis legalization in Canada. 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 that Delta 9’s currently contemplated expansion and development plans may cease or otherwise change, Delta 9’s production of cannabis may be lower than expected, Delta 9 may not obtain the required approvals from Health Canada, demand for Delta 9’s products may be lower than anticipated, Delta 9’s cost to produce its grow pods may be higher than expected and all other risk factors set forth in the annual information form of Delta 9 dated May 31, 2018 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.


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