48North Announces an Exclusive Licensing Agreement with APCNA Holdings LLC, for its Nationwide Cannabis Topical Brand, Apothecanna

TORONTO, Oct. 17, 2019 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH) is pleased to announce that it has signed an exclusive licensing agreement with U.S.-based APCNA Holdings LLC. ("Apothecanna"), to bring its best-selling, premium cannabis topicals brand to Canadian consumers.

Apothecanna, an established U.S cannabis brand focused on organic topical formulations, made without the use of artificial ingredients, fillers, parabens, or GMO ingredients, has been a leading topicals brand in the United States since its founding in 2009. Apothecanna has developed a suite of next-generation health and wellness cannabis products including, but not limited to: pain relief creams, a skincare line, sex oils, and other therapeutic cannabis-based topicals.

48North is focused on delivering best-in-class and innovative next-generation cannabis products to Canadian consumers. To that end, the Company strongly believes that value-added cannabis products that have succeeded in mature U.S markets, will also succeed in the Canadian marketplace. The agreement with Apothecanna, on the heels of the Company's previously announced licensing agreements with Avitas and Mother & Clone, builds on 48North's growing portfolio of popular U.S-based cannabis brands.

"Without question, Apothecanna is one of the leading topical cannabis brands in the United States. Since 2009, Apothecanna has led the charge in combatting cannabis stigma through spreading the wisdom of traditional plant medicine. They have successfully formulated a suite of best-in-class health and wellness products and developed an industry-leading brand. We are so excited to announce that Apothecanna's products will soon be available for Canadian consumers," said Alison Gordon, CEO of 48North.

"Great partnerships require shared values, and, like us, 48North is all about innovation and performance. Their commitment to sustainability and all-natural ingredients gave us the confidence we needed to expand our business into Canada. We look forward to combining our formulations and expertise with 48North's high-quality outdoor cannabis with the vision of normalizing cannabis through sport with the help of Good:Farm and 48North," said James Kennedy, Founder and CEO, of Apothecanna.

Under the terms of the licensing agreement signed October 16, 2019, 48North will license Apothecanna intellectual property and manufacturing techniques for domestic consumption in Canada.

These products will be produced and marketed in accordance with applicable Canadian laws and regulations for the adult-use recreational cannabis market.

About 48North

48North Cannabis Corp. (TSXV: NRTH) is a vertically integrated cannabis company focused on the health and wellness market through cultivation and extraction, as well as the creation of innovative, authentic brands for next-generation cannabis products. 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. 48North operates Good:Farm, a 100-acre organic cannabis farm that is expected to produce more than 40,000 kg of organic, sun-grown cannabis, securing a significant first-mover advantage in the production of low-cost, next-generation, extract-based cannabis products. In addition, 48North operates two indoor-licensed cannabis production sites in Ontario. 48North cultivates unique genetics at its wholly owned subsidiary, DelShen Therapeutics Corp. ("delshen") and processes cannabis and manufactures next-generation cannabis products at Good & Green Corp. ("Good & Green"), both Licensed Producers under the Cannabis Act. 48North has a growing portfolio of brands that include Latitude, a women's cannabis platform (explorelatitude.com); Mother & Clone, a rapid-acting sublingual cannabis nanospray (momandclone.com); Avitas, a single-strain vaporizer cartridge (avitasgrown.com) and Quill, a leader in the manufacturing of beautifully designed, lifestyle-focused and sleek vape products (quill.me).

About Apothecanna

Apothecanna, a true innovator in the US cannabis space that is focused on high performance topicals, has been a leader in the United States cannabis market since its founding in 2009. Apothecanna's formulas blend all-natural, premium plant-based extracts that are created without the use of artificial ingredients, fillers, parabens, or GMO ingredients. Apothecanna has developed a range of next-generation cannabis products including pain relieving and calming creams and oils that are focused on enhancing performance by complimenting active lifestyles and recovery routines.

DISCLAIMER & READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Please refer to the Company's SEDAR filings for further details concerning the risks associated with the Company's business. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

SOURCE 48North Cannabis Corp.

Alison Gordon, Chief Executive Officer, ([email protected]); Connor Whitworth, Director of Corporate Affairs, ([email protected]), [phone]