Delta 9 Applauds Historic Cannabis Legalization Vote in Canada
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/
WINNIPEG, June 20, 2018 /CNW/ - DELTA 9 CANNABIS INC. (TSXV: NINE) ("Delta 9" or the "Company") applauds the federal Government of Canada and the Senate for the historic and courageous vote on June 19, making Canada the first industrialized country in the world to legalize cannabis.
The Senate confirmed legalization yesterday, confirming the Liberal government's legalization plans, and sending the historic Bill C45 for Royal Assent, paving the way for retail sales of recreational cannabis in the fall.
"Prime Minister Justin Trudeau and his government had the foresight and the courage to do what no other government in the industrialized world has done," said Delta 9 CEO John Arbuthnot. "We believe legalization is going to benefit the people and the governments of Canada with new jobs, new revenue and new sources of taxation.
"Just as importantly, I believe the legislation will prevent Canadians from being stigmatized for their entire lives by criminal charges, and will in the long term poise Canada for global leadership in the world's fastest growing new industry."
Delta 9 management says the Company is prepared for the opening of retail stores and distribution in its home province of Manitoba and beyond. "One of the questions we're getting a lot is whether we can have retail outlets and online retail up and running by September," said Arbuthnot. "I can assure our customers that we are ready to put hammer to nail on our retail stores immediately, and that our buildup of inventory for the retail market is on track.
"We've been ready to run for months, and today we heard the starting pistol."
The Company says Delta 9 has selected locations for retail sites in Manitoba, and will be working with its partners at Westleaf Cannabis Inc. (Westleaf) and Canopy Growth Corporation (Canopy) to extend its retail operations across the country.
"Delta 9 has three primary strategies for our retail and distribution over the coming months," Arbuthnot explained. "We will be selling directly through our retail stores and Canopy Growth stores in Manitoba; we'll be selling nationally online through our site and Tweed Main Street, and in retail through Westleaf in Saskatchewan and in Alberta, where we already have a second production facility. We feel very prepared for the rollout of cannabis retail."
Arbuthnot also commented on the controversial decision to allow Canadians to grow cannabis at home for their own consumption, a measure opposed by the Manitoba government.
"We understand that this could create a headache for law enforcement, but we at Delta 9 don't feel it will be a major factor affecting either the black market sale of cannabis, or overall sales of legal cannabis from Licensed Producers," he said. "Canadians have been making their own wine and beer at home for many years, but those same people still buy alcohol products at liquor stores. We believe the vast majority of people will choose to buy cannabis products that are professionally produced at a Licensed Producer."
The Company states its next step will be to seek a decision from the Manitoba government on the number of retail stores that can be opened before the end of the year.
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".
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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) Delta 9's expansion plans; (ii) Delta 9's production of cannabis; (iii) approvals for Delta 9's production facilities by Health Canada; (iv) demand for Delta 9's products; and (v) Delta 9's cost to produce its grow pods. 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 filing statement of Delta 9 dated October 25, 2017 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.
SOURCE Delta 9 Cannabis Inc.