48North Cannabis Corp. Acquires Good & Green for Next Generation Cannabis Products
November 8th, 2018
Exclusive, News, Press Releases, Top News
In late October of this 2018, 48North Cannabis Corp. (TSX-V: NRTH) entered into a binding letter agreement to acquire all issued and outstanding common shares of privately-held Good & Green, a socially-responsible, organic cannabis brand. Combined with a variety of vertically integrated partnerships, investors are keen to watch the movement of 48North as it takes command as a leader in both cannabis manufacturing and consumer packaged goods.
Good & Green
The acquisition provides an additional 46,000 square feet of licensed indoor cultivation and manufacturing facility, situated on five-acres of land in Brantford, Ontario. This site has an initial production area of 14,000 square feet and another 25,500 square feet will be immediately available for additional indoor cultivation. The site will also create a laboratory designed for pre and post-production that will precipitate large-scale extraction and next-generation product, research, and development. The Brantford indoor facility is expected to produce 2,500 kilograms of dried cannabis in 2019.
This significant production footprint will add to 48North’s existing licensed facility in Kirkland Lake, Ontario, and projects the Brantford-area farm to boost production to an expected 40,000 kilograms of sun-grown cannabis in 2019.
Good & Green’s senior team, including Jeannette VanderMarel and Daniel Goldberg, have been involved in the MMPR/ACMPR/Cannabis Act since its inception. Together they have 12-plus years of experience and have developed over a million square feet of federally licensed cannabis cultivation space.
Goldberg, co-founder and current CEO of Good & Green, is pleased to be combining forces with 48North, a company that he says “shares our commitment to the highest environmental, social and governance standards, to developing high-quality and consistent products and to achieving best-in-class financial performance.”
VanderMarel, co-founder and President of Good & Green who was a co-founder as well of The Green Organic Dutchman (TGOD), is just as enthusiastic: “48North continues to be a leader in developing cannabis brands and products with a future-focus that looks beyond flower and oil. We look forward to adding our expertise and significant low-cost organic production profile to further develop this dynamic and innovative vertically-integrated cannabis company.”
After closing of the acquisition, set for late November, VanderMarel will join the Board of Directors of 48North and become co-CEO. Goldberg, assigned as Senior Advisor, will focus on strategy, business and corporate development, strategic partnerships, communications, as well as investor and government relations for 48North.
48North’s assets also include a license by Health Canada for cultivation, sales, and extraction of cannabis by using unique genetics sourced from MariPharm B.V. As holder of the first cannabis cultivation license in the Netherlands and as member of the International Cannabinoid Research Council for 20 years, Maripharm B.V. has been researching the application and effects of medical cannabis in partnership with governments and universities for over 25 years. With a large-scale, sun-grown 100-acre outdoor farm, MariPharm B.V. brings expertise and experience to 48North by creating compliant, consistent, and distinctive CBD and THC products.
48North’s Growing Portfolio
Currently 48North has a growing portfolio of brands that include Latitude, a women’s cannabis platform; DelShen Therapeutics Corp., the company’s existing wholly-owned Licensed Producer; and Mother & Clone, producers of a rapid-acting sublingual cannabis nanospray.
The opportunity to leverage a combined portfolio of authentic, socially responsible, high-quality cannabis brands, along with the diversity and range of brands, will increase access to multiple demographic segments through complimentary values-driven brands.
Playing By The Numbers
48North Cannabis Corp targets production cost at $0.25 per gram, a cost basis that is currently a fraction of the lowest-cost producer.
With strong access to immediately available capital, the concurrent financing from this acquisition provides liquidity to support the continued expansion of both companies (including the development of Good & Green’s 100-acre farm). The anticipated large-scale extraction capabilities should significantly increase 2019 production and facilitate the rapid development of innovative, next-generation cannabis products.
48North Cannabis Corp. (TSX-V: NRTH) cultivates premium cannabis products for the health and wellness market. The company partners with leading consumer-packaged companies in the food, beverage, cosmetic, and skincare market. By leveraging a well-arranged supply chain, 48North is prepared to take a commanding lead in the formulation, production, and distribution of next generation cannabis-infused products.
As a future-focused cannabis company, 48North’s objective addresses female-driven health and wellness issues, but also looks to serve future advancements in the cannabis industry through the development and manufacturing of proprietary products and brands for a variety of consumers.
Please click here to see the company’s Investor Kit.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
Follow Us on Social Media
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: http://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.