Delta 9 Marks 4/20 By Obtaining License for Cannabis Oil Production
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES/
WINNIPEG, April 24, 2017 /CNW/ - DELTA 9 CANNABIS INC. (TSXV: NINE) ("Delta 9" or the "Company") is pleased to announce that Health Canada has approved the Company's application for an amendment to its cannabis production and sale license which will allow it to produce bottled cannabis oils under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR"). The license amendment was issued on April 20, 2018 and is valid until August 30, 2019.
"This is another important step for Delta 9 in preparing for legalization in Canada, but also in working with our partners in Germany, where we have signed an export agreement," said Delta 9 CEO John Arbuthnot.
Delta 9 announced the signing of a non-binding letter of intent on March 27, 2018 with Global Group Kalapa S.L. and Canpharma GMBH for the exportation of medical cannabis and cannabis oils to Germany. As part of that agreement, Delta 9 agreed to produce cannabis oil, and agreed to become GMP (Good Manufacturing Process) certified.
Also this week Delta 9 engaged QNR Associates of Edmonton, Alberta to help plan the upgrade of the Company's Winnipeg facility to the standards required of GMP certification. Currently the facility is certified under the GPP (Good Production Practices) protocol, which is required under the ACMPR program in Canada.
The Company also recently announced that it is building a second cannabis production facility in Calgary, Alberta in partnership with Westleaf Cannabis Inc., known as the "Delta West" facility. This facility will include a GMP certified lab for the production of cannabis oil and all legally allowed cannabis extracts and derivatives.
This month Delta 9 also submitted its application for cannabis retail outlets in Saskatchewan under the Provincial Government's RFP process, which closed on April 10, 2018.
"Our management believes there is a strong and generally underserved market in the Prairie Provinces, and we have focused our goals on becoming a market leader in Manitoba, Saskatchewan and Alberta," said Arbuthnot. "Our expansion in all of these provinces is actually proceeding faster than expected, and obtaining our license for cannabis oils was one more crucial step on our path."
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) Delta 9's expansion plans; (ii) Delta 9's production of cannabis and cannabis oils; and (iii) demand for and sale of Delta 9's products. 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.