Delta 9 partner Oceanic Releaf receives five new retailers
BURIN, Newfoundland, June 01, 2021 (GLOBE NEWSWIRE) – DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”) is pleased to announce that its strategic partner Oceanic Releaf Inc. (“Oceanic”) has obtained five new store licenses at cannabis retail in the province of Newfoundland and Labrador from the Newfoundland and Labrador Liquor Corporation (NLC). Delta 9 holds a 5% interest in the operations of Oceanics’ production facilities, existing retail stores and retail store expansion plans and has a 20 year supply agreement with Oceanic and the Government of Newfoundland and Labrador.
“We look forward to continuing our work with Oceanic to expand their retail network in Newfoundland. Said John Arbuthnot, CEO of Delta 9. “The opening of five more Oceanic cannabis stores in Newfoundland will allow us to better understand the cannabis purchasing preferences of our customers and in turn allow us to better adapt our product portfolio to the local market. “
Oceanic has entered into a Strategic Cooperation Agreement (“SCA”) with Delta 9 which provides a variety of services related to the production of cannabis, the development of standard operating procedures and sanitation programs, marketing services to develop the Oceanic brand and other services supporting the Oceanic acquisition. License from Health Canada.
“This is an exciting day and a milestone for Oceanic as we continue to expand our commercial footprint in Newfoundland – across the Trans-Canada Highway,” said Taylor Giovannini, President of Oceanic. “We are very excited. to be able to supply and serve as many local communities with premium quality cannabis grown from our own 65,000 square foot production facility as well as the best cannabis producers in Canada. These new stores will be modeled after our business retail space of 2,300 square feet. location in Burin – which also has the first cannabis drive-thru in Canada. We look forward to bringing this and other innovative approaches to increase accessibility across the province “
On May 28, 2021, the NLC announced eight names and locations of qualified candidates for the recent Licensed Cannabis Retailer (LCR) RFP and Oceanic was awarded five licenses at: Avalon Business Park, Whitbourne, 6 Sweetland’s Hill, Bonavista, 20 High St., Channel-Oort aux Basques, 350 Torbay Road, St. John’s, and 134 Trans Canada Highway, Clarenville. The provincial agency announced earlier this year plans to add up to 16 new cannabis retail stores to its current number of 30. The DP opened earlier this year and closed on May 11, with a scheduled opening date for the new stores on September 1, 2021..
For more information, contact: Investor and media contact: Ian Chadsey VP Corporate Affairs Mobile: 204-898-7722 E-mail: [email protected]
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 channels and sells its cannabis grow pods to other companies. 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 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.
Based in the picturesque rural setting of the Burin Peninsula in Newfoundland and Labrador, Oceanic is a vertically integrated cannabis company operating from a 65,000 square foot grow facility. Using state-of-the-art equipment and techniques, Oceanic will produce top-quality, fresh and clean cannabis in one of the last unspoiled regions of the world. Oceanics’ vision is to provide retail products and experiences that will reflect the best of what Newfoundland and Labrador has to offer: creativity, personality and bravery – a rare experience for any cannabis user. With seven outlets in development, Oceanic is closer than ever to delivering on that promise.
Forward-looking information disclaimer
Certain statements contained in this press release are forward-looking statements, which reflect management’s expectations regarding the Company’s future business plans and other matters. Forward-looking statements consist of statements which are not purely historical, including statements regarding beliefs, plans, expectations or intentions regarding the future. The forward-looking statements contained in this press release include statements relating to the Company’s expansion plans. These statements are subject to risks and uncertainties which may cause actual results, performance or developments to differ materially from those contained in the statements, including all risk factors set forth in Delta 9’s annual information form. dated March 31, 2021 which has been filed. on SEDAR. No assurance can be given that any of the events anticipated by forward-looking statements will occur or, if they do occur, what benefits the Company will derive from them. Readers are urged to carefully consider these factors when evaluating the forward-looking statements contained in this press 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 intention or obligation to publicly update any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as required. by the applicable securities. laws.