48North Cannabis Corp. Signs Supply Agreement with Good & Green

Published: October 1, 2018

48North Cannabis Corp. Signs Supply Agreement with Good & Green

48North Cannabis Corp. has entered a supply agreement with Good & Green, a socially-responsible, organic cannabis company and late-stage ACMPR applicant. Under the terms of the Agreement, signed September 28, 2018, 48North will pay Good & Green $1,500,000 in exchange for 6,000 kilograms of organically sun-grown, dried cannabis, as permitted under the Cannabis Act, for use in extraction, to be delivered on or before December 31, 2019.

This Agreement follows 48North’s announcement that it received a supplemental license from Health Canada for the extraction and production of cannabis oil and marks another key milestone towards the Company’s commitment to produce second-generation cannabis products focused on the women’s health and wellness market. The additional access to 6,000 kilograms of dried cannabis significantly increases 48North’s ability to produce low-cost, extracted cannabis products, including the recently announced licensing deal with Mother & Clone’s proprietary, rapid-absorption, sublingual nanospray.

“We look forward to collaborating with Good & Green given their extensive experience in the production of organically grown cannabis,” said Alison Gordon, Chief Executive Officer at 48North. “This arrangement provides 48North with a meaningful amount of organically sun-grown cannabis, which is essential to developing second-generation products.”

“With its acquisition of a 100-acre farm in southwest Ontario, Good & Green is excited to be a first mover in outdoor cannabis cultivation in Canada, as permitted under the Cannabis Act,” said Jeannette VanderMarel, President at Good & Green. “Today’s announcement is consistent with Good & Green’s commitment to partner with best in class companies and we are looking forward to working with the great team at 48North.”