Delta 9 Enters into Cannabis Supply Agreement with Ontario Cannabis Store
WINNIPEG, Manitoba, June 23, 2020 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) (“Delta 9” or the “Company”), is pleased to announce that on June 23, 2020 it entered into a Master Cannabis Supply Agreement (the “Agreement”) with Ontario Cannabis Retail Corporation (doing business as “Ontario Cannabis Store”) (“OCS”).
The Agreement provides for the supply by Delta 9 of branded cannabis products and accessories to OCS for sale in retail cannabis stores in Ontario and online sales of recreational cannabis products and accessories to customers in Ontario. Concurrently with entering into the Agreement, Delta 9 entered into a Data Subscription Agreement with OCS, under which OCS will supply point-of-sale data pertaining to Delta 9 product sales at the retail level.
We are pleased to continue to grow the presence of Delta 9 products in retail channels across Canada by entering into the Master Supply Agreement with OCS,
said John Arbuthnot, CEO of Delta 9.
The Ontario retail and online market presents tremendous opportunity for sales of a range of Delta 9 cannabis products, and we look forward to further opportunities for Delta 9 products to reach customers coast-to-coast.
On entering into the Agreement, Ontario became the sixth Canadian province where Delta 9 has entered into supply agreements with provincial authorities for the supply of cannabis products into provincial recreational cannabis markets, with Delta 9 currently also supplying recreational cannabis products to Manitoba, Saskatchewan, Alberta, British Columbia, and Newfoundland.
For more information contact:
Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Delta 9 Cannabis Inc. is a vertically integrated cannabis company focused on bringing the highest quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels and sells its cannabis grow pods to other businesses. 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 "VRNDF". 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 the Company's potential expansion plans; and (ii) all necessary regulatory approvals for the Transaction being obtained. 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 risk that the necessary regulatory approvals are not obtained as well as all risk factors set forth in the annual information form of Delta 9 dated March 19, 2020 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.