48North Provides Update on its Investment in Friendly Stranger Holdings Corp.

TORONTO, Jan. 16, 2020 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV: NRTH) is pleased to announce that Friendly Stranger Holdings Corp. ("Friendly Stranger") has granted trademark licenses for the use of its trusted and recognized brand to six Ontario retail license holders. Friendly Stranger branded retail locations will open their doors in early 2020.

In August 2019, 48North announced that it made a strategic investment of $1.25 million in Friendly Stranger. The investment was intended to facilitate Friendly Stranger's aggressive expansion plans and specific intention to enter the legal retail cannabis market.

As Canada's most iconic cannabis culture shop, widely revered for its friendly and knowledgeable service, this announcement reconfirms 48North's belief that Friendly Stranger is well-positioned to succeed in the retail cannabis market.

In addition to the strategic investment, Friendly Stranger and 48North entered into a preferred partnership initiative that guarantees 48North a presence in all existing and future Friendly Stranger retail locations, a commitment to stock 48North products without listing fees, co-branding opportunities, and a number of other strategic collaborative initiatives.   

"48North is pleased to see that Friendly Stranger is successfully delivering on its aggressive growth strategy by opening six retail locations across the Greater Toronto and Hamilton Area by early 2020. Friendly Stranger's commitment to always offering a best-in-class cannabis retail experience will ultimately result in successful, consumer friendly dispensaries. I look forward to consumers purchasing 48North products at a future Friendly Stranger location," said Alison Gordon, CEO of 48North.

The following locations will open their doors in early 2020:

• 501 Church Street, Toronto
• 1135 Richmond Street, London
• 1025 Plains Road East, Burlington
• 204 Ritson Road, Oshawa
• 237 Queen Street West, Toronto
• 101 Osler Drive, Dundas

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 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); Quill, a leader in the manufacturing of beautifully designed, lifestyle-focused and sleek vape products (quill.me) and Sackville & Co, a leading U.S.-based cannabis brand focused on design-forward cannabis accessories and CBD products (sackvilleandco.com).

ABOUT FRIENDLY STRANGER HOLDINGS CORP.

A long-standing retail champion of cannabis culture, Friendly Stranger Holdings Corp ("FSHC") is dedicated to ongoing long-term contribution within the Canadian cannabis market through the launch of numerous retail locations across the country. With strategic investments, such as acquiring the iconic cannabis culture stores Happy Dayz, FSHC continues to evolve and execute their ongoing growth strategy.

www.friendlystranger.com www.happy-dayz.ca Instagram: @the_friendly_stranger @happy.dayz420 Twitter: @friendlystrnger @happy__dayz Facebook: Friendlystranger.ca Happy.dayz.ca

DISCLAIMER & READER ADVISORY
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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]); James Jesty, President, [email protected]