48North Cannabis Corp. Signs Key Supply Agreement with Medical Cannabis by Shoppers

TORONTO, May 7, 2020 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV:NRTH), is pleased to announce that it has signed a key supply agreement with Medical Cannabis by Shoppers Drug Mart Inc. ("Shoppers"), a subsidiary of Shoppers Drug Mart Inc.

Under the terms of the agreement, 48North will become a supplier of cannabis and cannabis products through the Shoppers online sales platform. As a result, 48North-branded products and licensed brands will now be available to Medical Cannabis by Shoppers™ patients across Canada.

To begin, the Company will be introducing Apothecanna by 48North, an established U.S cannabis brand focused on natural topical formulations, made without the use of artificial ingredients, fillers, parabens, or GMO ingredients. Apothecanna has been a leading topicals brand in the United States since its founding in 2009.

"Partnering with trusted brands like Medical Cannabis by Shoppers has been a cornerstone of 48North's growth plan since the beginning. The Company continues to sign agreements and build meaningful partnerships with a collection of the most beloved and trusted brands in Canada. Today's news, announced on the heels of the Company's agreements with Indigo and Pax, continues to build on 48North's momentum," said Charles Vennat, CEO of 48North.

"48North can now truly say that its brand and products are available across the country. We could not be prouder to partner with one of the most respected brands in Canadian retail, we look forward to bringing our high-quality, consistent and natural product offerings to medical cannabis patients," continued Charles.

Successfully signing a supply agreement with Shoppers is indicative of 48North's renewed commitment to improving operations, investing in product development, and supporting high-quality experiences for Canadian consumers.

48North applauds the hard work that Shoppers has done to ensure that all Canadians have access to quality products as well as trusted guidance from their specialized medical cannabis advisors.

The agreement is for a three-year term, subject to certain termination rights and is renewable for an additional two years.

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 which produces organically-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.

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. Public health crises, including the ongoing novel coronavirus (COVID-19) pandemic, could have significant economic and geopolitical impacts that may adversely affect the Company's business, financial condition and/or results of operations.

SOURCE 48North Cannabis Corp.

Connor Whitworth, Senior Director of Corporate Affairs, 48North, [phone] ext. 316, [email protected]