WINNIPEG, Manitoba, April 06, 2020 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (DN.TO) (VRNDF) ("Delta 9" or the "Company"), is pleased to announce that it has completed its final services milestone under an agreement with another Micro Cultivation partner, Oliver Acres Ltd., (operating as “Cypress Craft”). Cypress Craft is an arms length third party in which the Company has no ownership control or interest.
As one of the Company’s micro cultivation partners, Cypress Craft, entered into a Strategic Cooperation Agreement (“SCA”) with Delta 9 whereby Delta 9 provides services relating to the cannabis production facility design and construction, development of standard operating procedures and sanitation programs, consulting on Health Canada licensing, and other services supporting the acquisition of the Health Canada license. On April 3, 2020, Cypress Craft confirmed it has reached its final milestone under the SCA and has been granted a cannabis micro cultivation license from Health Canada (the “Health Canada License”).
“We are delighted that Cypress Craft has received a Health Canada Licence for their facility, using our proprietary and turn-key "Grow Pod" systems” and thrilled that they are one of the first rural farmers to become a micro cultivator in Manitoba,” said John Arbuthnot, Founder and CEO of Delta 9.
The Company's cannabis production methodology is based around a modular, scalable, and stackable production unit called a "Grow Pod", which are retrofitted standard 40-foot shipping containers. Cypress Craft’s facility has been designed and built using this turn key and state of the art Grow Pod system. Once cultivation begins, Delta 9 plans to purchase premium quality cannabis products from Cypress Craft for distribution through the Company's established distribution network, and through Delta 9's branded retail stores.
“I would like to thank Delta 9 for providing us with a turn-key platform to grow cannabis and for their continued support as we begin production," said Doug Oliver, Founder. "I look forward to being a part of this new industry producing small batch, passionately grown, craft cannabis. You will find our premium Cypress Craft products at Delta 9 retail locations soon!”
The Oliver’s operate a 4th generation farm and have a (4,560) square foot micro cultivation facility, located in the rural municipality of North Cypress, Manitoba. Doug Oliver and sons Brett and Bryce Oliver are experienced farmers and became interested in growing cannabis commercially to broaden their crop output and diversify their farming operation.
For more information contact:
Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
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 "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: (i) Cypress Craft's proposed micro cultivation operations; (ii) Delta 9's intention to sell Cypress Craft’s premium cannabis products; and (iii) Delta 9's development of micro cultivation 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 Cypress Craft’s cannabis production not being as anticipated, 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.