WINNIPEG, Sept. 21, 2018 /CNW/ - DELTA 9 CANNABIS INC.
(TSXV: NINE) (OTCQX: VRNDF) ("Delta 9" or the "Company") is pleased
to announce the Company has qualified to trade on the OTCQX® Best
Market. Delta 9 upgraded to OTCQX from the Pink® market.
Delta 9 begins trading today on OTCQX under the symbol
"VRNDF." U.S. investors can find current financial disclosure
and Real-Time Level 2 quotes for the company on
www.otcmarkets.com.
"Delta 9 joins over 40 Canadian companies that have chosen to
upgrade to our OTCQX Best Market this year," said Jason Paltrowitz, Executive Vice President of
Corporate Services at OTC Markets Group. "Trading on OTCQX provides
companies with increased visibility and more efficient trading for
their global investors. We look forward to supporting Delta 9 and
their shareholders in the U.S. market."
Delta 9 Chief Executive Officer John
Arbuthnot says that trading on the OTCQX comes at an
opportune time for the Company, and for US investors.
"Our company is in final preparations for the historic
legalization of recreational cannabis across Canada," explained Arbuthnot. "We have been
dramatically ramping up our production to prepare for this emerging
market, and we are among the few companies in Canada that will have retail outlets open for
business on Day One of legalization. Exposure to OTC investors
really could not come at a better time."
Full legalization of cannabis begins in Canada on October 17,
2018 as the federal Cannabis Act takes effect.
Delta 9 has prepared for legalization by raising more than
$60 million over the past year, and
launching an aggressive expansion of its facility that is expected
to increase production to 17,500,000 grams of cannabis per year by
the end of 2019. The Company is currently building and licensing a
second large-scale facility in Calgary,
Alberta with partner firm Westleaf Cannabis Inc.
Additionally, the Company is building out a network of retail
cannabis outlets, with the first expected to open in Winnipeg, Manitoba on October 17 for the first day of legal sales in
Canada.
Delta 9 was sponsored for OTCQX by McMillan LLP, a qualified
third-party firm responsible for providing guidance on OTCQX
requirements and recommending membership.
About Delta 9 Cannabis Inc.
Delta 9 Cannabis was the
fourth producer in Canada licensed
to produce legal cannabis. Delta 9 now operates its wholly-owned
subsidiary, Delta 9 Bio-Tech Inc., as a licensed producer of
medical marijuana pursuant to the ACMPR and operates an 80,000
square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 also owns
50 per cent of the 70,000 square foot Delta West facility in
Alberta, and co-owns the Delta 9
Lifestyles cannabis retail operation. Delta 9's shares trade on the
TSX Venture Exchange under the symbol "NINE".
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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. Often, but
not always, forward-looking statements and information can be
identified by the use of words such as "plans", "expects" or "does
not expect", "is expected", "estimates", "intends", "anticipates"
or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved.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. Forward-looking statements in this release
include: the statement that Delta 9 will be opening a network of
retail cannabis stores; the statement that the first of the
cannabis retail stores will be open and operating on October 17; the expansion of the facility with
the goal of increasing expansion of cannabis to 17,500,000 grams
per year; and the potential licensing of the Delta West production
facility, which is subject to Health Canada inspection and
approval.
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.
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SOURCE Delta 9 Cannabis Inc.