Delta 9 Achieves Milestone Agreement with Ahahswinis Green Investments Micro Cultivation Partner
WINNIPEG, Manitoba, Nov. 19, 2020 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) ("Delta 9" or the "Company"), is pleased to announce that it has completed its final services milestone under an agreement with Ahahswinis Green Investments Ltd (“Ahahswinis”) which is 100% owned by Hupacasath First Nation. Ahahswinis is an arms length third party in which Delta 9 has no ownership control or interest.
As one of Delta 9’s micro cultivation partners, Ahahswinis entered into a Strategic Cooperation Agreement (“SCA”) with the company whereby Delta 9 provides services relating to the cannabis production facility design and construction, development of standard operating procedures and sanitation programs, consulting on Health Canada licensing, and other services supporting the acquisition of the Health Canada license. On November 13, 2020, Ahahswinis confirmed it has reached its final milestone under the SCA and has been granted a cannabis micro cultivation license from Health Canada (the “Health Canada License”).
“We are pleased with having achieved this major milestone in our agreement with Ahahswinis and thrilled that they are the first Delta 9 micro cultivators in Canada to be 100% wholly owned by a First Nation and receive a Health Canada Licence for our proprietary and turn-key 'Grow Pod' systems”, said John Arbuthnot, Founder and CEO of Delta 9. “We are continuing to work with First Nations in Canada to develop our micro cultivation services so that our platform can be the "go to" platform for cannabis entrepreneurs looking to produce premium quality cannabis products.”
The Company's cannabis production methodology is based around a modular, scalable, and stackable production unit called a "Grow Pod", which are retrofitted standard 40-foot shipping containers. Ahahswinis’s facility has been designed and built using this turn key and state of the art Grow Pod system. Once cultivation begins, Delta 9 plans to purchase premium quality cannabis products from Ahahswinis for distribution through the Company's established distribution network, and through Delta 9's branded retail stores.
“I would like to thank Delta 9 for providing us with a turn-key platform to grow cannabis and for their continued support as we begin production in December 2020", said James Tatoosh, President. "Their proven grow pod design made it easier to receive a Health Canada license and apply and receive funding from the Nuu Chah Nulth Economic Development Corp. (NEDC). We look forward to being a part of this new industry producing small batch, premium grown, craft cannabis.”
The Hupacasath First Nation has owned and occupied their traditional territory in Central Vancouver Island for thousands of years. Their goal is to enhance the quality of life for their people by providing jobs and economic development opportunities so families can support themselves. They have invested $1.9 million in the 4,560 square foot micro cultivation operation with 12 Delta 9 Grow Pods, located outside of Port Alberni Vancouver Island, British Columbia.
For more information contact:
Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
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About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. Delta 9's wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. Delta 9's shares trade on the Toronto Stock Exchange under the symbol "DN" and on the OTCQX under the symbol "VRNDF". For more information, please visit .
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) Ahahswinis’s proposed micro cultivation operations; (ii) Delta 9's intention to sell Ahahswinis’s premium cannabis products; and (iii) Delta 9's development of micro cultivation services. 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 Ahahswinis’s cannabis production not being as anticipated, as well as all risk factors set forth in the annual information form of Delta 9 dated March 19, 2020 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.
