Yahoo Finance Delta 9 Completes First Export of Cannabis to Australia, Receives Seven Additional Export Permits
WINNIPEG, Manitoba, Feb. 13, 2023 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC. (TSX:DN) (OTCQX:DLTNF) (“Delta 9” or the “Company”) is pleased to announce that it has completed its first shipment of bulk dried cannabis flower to a customer in Australia, marking the Company’s first export of dried cannabis flower material to an international market. The Company has also received seven additional export permits from Health Canada and intends to complete multiple shipments of dried cannabis flower and cannabis extracts to the Australian market in the first and second quarter of 2023. The shipments are anticipated to include approximately 100 Kg of dried cannabis flower material and 6 Kg of cannabis distillate.
The expansion marks a significant milestone for Delta 9 as it enters the global cannabis market. “This shipment is our first step of many planned sales into the Australian medical cannabis market,” said John Arbuthnot, CEO of Delta 9. “We see significant emerging market opportunities in international markets playing out over the next several years and anticipate that exports of cannabis products will become a key growth driver for us.”
Delta 9 views the international market as an emerging opportunity to increase revenue from its cannabis operations. The Company is optimistic that an increasing number of global markets will refine regulations, allowing for lower-barrier access to high-quality cannabis products produced by trusted suppliers from Canada.
For more information contact:
Investor & Media Contact:
Ian Chadsey VP Corporate Affairs
Mobile: 204-898-7722
E-mail: ian.chadsey@delta9.ca
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. 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 “DLTNF”. 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 plans to complete cannabis export shipments from Canada. 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 all risk factors set forth in the annual information form of Delta 9 dated March 30, 2022 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.
