Delta 9 Receives Manitoba’s first Cannabis Distributor License
2022年10月25日 - 7:00AM
DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) ("Delta 9" or the
"Company"), is pleased to announce that, through its wholly owned
subsidiary Delta 9 Logistics Inc., it has received a Cannabis
Distributor License (the “License”) from the Liquor Gaming and
Cannabis Authority (the “LGCA”) of Manitoba, making the Company the
first licensed distributor of cannabis products in the province.
Under the License, Delta 9 is authorized to
acquire, store, sell and deliver cannabis in accordance with The
Liquor, Gaming and Cannabis Control Act (Manitoba). The Company’s
distribution services will allow out-of-province suppliers to
improve logistics efficiencies and reduce shipping costs into the
Manitoba market and will provide Delta 9 with additional
diversified revenue streams.
“We see Delta 9’s entry into the distribution
services space to be the logical next step in the Company’s
vertical integration strategy,” said John Arbuthnot, CEO of Delta
9, “Our existing relationships with the Canadian cannabis
industry’s leading suppliers and centralized warehouse presence in
Winnipeg make us the ideal provider of these market services.”
Retail cannabis sales in Manitoba for the twelve
months ending August 30, 2022, exceeded $169 Million, according to
data from Statistics Canada, with more than 150 licensed retail
stores in operation as of September 30, 2022. The Company intends
to begin executing distribution agreements with suppliers
immediately and anticipates distribution shipments will begin in
Q4, 2022.
The Company’s License is valid from October 20,
2022, and expires September 30, 2023.
For more information contact:
Investor & Media
Contact:Ian Chadsey, VP Corporate
AffairsMobile:
204-898-7722E-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 "DLTNF". 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) the Company’s intent to provide distribution services in
Manitoba, and (ii) the Company’s ability to produce revenue from
distribution 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 the Company’s Distribution Services not being
as anticipated, as well as all risk factors set forth in the annual
information form of Delta 9 dated March 31, 2022 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.
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