WINNIPEG, Manitoba, Oct. 26, 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 Saskatchewan based Micro Cultivation partner, Paradise Cannabis LTD. (“Paradise”). Paradise is an arm’s length third party in which the Company has no ownership control or interest.
As one of Delta 9’s Micro Cultivation partners, Paradise entered into a Strategic Cooperation Agreement (“SCA”) with the company whereby Delta 9 provides services relating to the cannabis production facility design, 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 October 23, 2020, Paradise confirmed it had reached its final milestone under the SCA and has been granted its cannabis micro cultivation licenses from Health Canada (the “Health Canada License”).
“We are delighted that Paradise has received a Health Canada Licence for twelve of our proprietary and turn-key "Grow Pod" systems and will begin cultivation of craft quality cannabis”, said John Arbuthnot, Founder and CEO of Delta 9. “Our turn key platform for Grow Pods and services continues to prove one of the best options for cannabis industry entrepreneurs seeking licensing and support services.”
The Company's cannabis production methodology is based around a modular, scalable, and stackable production unit called a "Grow Pod", which are based on retrofitted 40-foot shipping containers. Paradise’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 Paradise for distribution through the Company's established distribution network, and through Delta 9's branded retail stores. Delta 9 has now successfully licensed over 72 Grow Pods in third party facilities across Canada.
“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", said Doug McGillivray, President of Paradise. "We look forward to being a part of this new industry producing small batch, passionately grown, craft cannabis. You will find our premium Paradise Cannabis products at Delta 9 retail locations soon!”
Paradise has developed a state-of-the-art micro cultivation facility, located south of Regina, Saskatchewan. This brand-new facility houses twelve new grow pod systems. Paradise expects this first facility to be the first step in a more significant growth plan, as it builds Saskatchewan’s leading craft cannabis company.
The well-rounded Paradise team operates a 6th generation farm with 7,800 acres and a 4,500 square foot micro cultivation facility. The team consists of experienced farmers and medical cannabis growers and became interested in growing cannabis commercially to broaden their crop output and diversify their farming operation.
The Paradise Team is committed and passionate about growing premium craft cannabis and looks forward to sharing more details on what customers can expect from its new offerings.
For more information contact:
Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Mobile: 204-898-7722
E-mail: ian.chadsey@delta9.ca
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 www.delta9.ca.
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) Paradise's proposed micro cultivation operations; (ii) Delta 9's intention to sell Paradise'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 Paradise’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.