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Delta 9 Cannabis Inc DLTNF

Delta 9 Cannabis Inc. is a Canada-based vertically integrated cannabis company. The Company operates through three segments: Wholesale Cannabis, Retail Cannabis and Merchandise and Devices, and Business to Business. The Company sells cannabis products through its wholesale and retail sales channels and sells its cannabis growing pods to other businesses. Its cannabis products include dried cannabis and pre-rolled joints. Its edibles and vapes include vape pens and concentrates, edibles, and drinkables. The Company, through its wholly owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis products and operates a 95,000-square-foot Health Canada licensed production facility in Winnipeg, Manitoba, Canada. It also owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand. It is focused on producing and selling cannabis oils, extracts, and derivative products.


GREY:DLTNF - Post by User

Bullboard Posts
Post by gnote1on Nov 09, 2020 7:22pm
210 Views
Post# 31867724

Lloydminster Store!

Lloydminster Store!NIce to see the deal has been done and store is open.

Delta 9 Acquires Saskatchewan Retail Cannabis Store
11/09/2020 06:00 PM ET

Delta 9 Acquires Saskatchewan Retail Cannabis Store

WINNIPEG, Manitoba, Nov. 09, 2020 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) ("Delta 9" or the "Company"), is pleased to announce that it has closed a transaction with Auxly Cannabis Group Inc. and Kolab Project Inc. (the "Vendors") to acquire all or substantially all of the Vendors' assets relating to the operation of a retail cannabis store in Lloydminster, Saskatchewan (the "Transaction"). The acquisition is anticipated to be completed through the Company's wholly-owned subsidiary, Delta 9 Cannabis Store Inc., and pursuant to the previously announced purchase agreement among Delta 9 Cannabis Store Inc. and the Vendors dated August 31, 2020.

"We are pleased to have finalized our transaction with Auxly and Kolab to establish Delta 9's first foothold in the Saskatchewan retail cannabis market," said John Arbuthnot, CEO of Delta 9. "Delta 9's strategy of vertical integration is further strengthened with the move into Saskatchewan, and unites Delta 9's Western Canada retail strategy by joining its existing Manitoba and Alberta retail presence, and expands its base for future expansion opportunities."

The purchase price paid by Delta 9 Cannabis Store Inc. relating to the Transaction was $875,000, subject to customary adjustments (the "Purchase Price"). $750,000 of the Purchase Price was satisfied through the issuance of 1,282,270 common shares in the capital stock of the Company (each a "Common Share") at a deemed price of $0.5849 per Common Share, which is the 15-day volume weighted average price per Common Share on the Toronto Stock Exchange as at the closing date for the Transaction. The balance of the Purchase Price was paid in cash.

The final closing of the Transaction remains subject to the approval of the Toronto Stock Exchange.



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