48North Cannabis Corp. announced the appointment of Michael Highdale as Chief Operating Officer, effective immediately.
Michael is a results-oriented CPG executive with extensive experience in leading large scale and complex businesses in the food and beverage industry. Before joining 48North, Michael was the Vice-President, Operations at Sofina Foods Inc., one of Canada’s leading manufacturers of primary and further processed protein products for both retail and foodservice customers as well as international markets.
“I am thrilled to have Michael, an experienced leader in the food and beverage space, join the Company’s industry leading team as COO. In recent months, 48North has made significant progress in professionalizing its operational and manufacturing capacities. Without question, Michael has the experience required to continue implementing these improvements, ensuring that 48North’s facilities remain first-class in the cannabis industry and beyond,” said Charles Vennat, CEO of 48North.
With 48North moving towards its second season of outdoor harvest, this enhancement to its executive team will help ensure a continued focused on the cultivation of high-quality cannabis and emphasis on meeting the strong demand for its products. The Company will continue to provide updates as 48North executes on its strategy.
48North has granted an aggregate of 500,000 stock options (each an “Option'”) to certain directors, officers, and employees of the Company. The Options vest through the passage of time and/or the achievement of specific goals. The specific goals for the Options vary based upon the duties and responsibility of the recipient. Each Option is exercisable into one common share (“Share”) of the Company at a price of $0.21 per Share for a period of three years from the date of grant. The Options have been granted pursuant to the Company’s Stock Option Plan which has been previously approved by the Company’s shareholders and the TSX Venture Exchange.
48North Cannabis Corp. is a vertically integrated cannabis company focused on manufacturing high-quality products, building progressive and thought-provoking brands, and low-cost cultivation. 48North is developing formulations and manufacturing capabilities for its own proprietary products, as well as positioning itself to contract manufacture similar products for third parties.