Delta 9 Sells Interest in Calgary Facility to Westleaf

Published: January 29, 2019

Delta 9 Sells Interest in Calgary Facility to Westleaf

Delta 9 Cannabis Inc. has entered into a definitive agreement to sell its 50% interest in the Delta West extraction facility to Westleaf Inc. Under the Definitive Agreement, Westleaf has agreed to issue an aggregate of 5,600,000 common shares in the capital of Westleaf in consideration for the acquisition of Delta 9’s 50% interest in the project. Closing of the transaction is expected to occur on or about January 31, 2019.

“We feel that this transaction creates significant value for Delta 9 and its shareholders, representing a substantial return on our original investment in the Delta West facility,” said John Arbuthnot, CEO of Delta 9. “This move will allow us to streamline our allocation of capital and allow Delta 9 to focus on continued expansion of our Winnipeg based cultivation facilities, continued expansion of our Delta 9 Cannabis Stores unit, and allow us to explore other strategic investments in the industry.”