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WINNIPEG, MB – October 24, 2022 – DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) (“Delta 9” or the “Company”), is pleased to announce that, through its wholly owned subsidiary Delta 9 Logistics Inc., it has received a Cannabis Distributor License (the “License”) from the Liquor Gaming and Cannabis Authority (the “LGCA”) of Manitoba, making the Company the first licensed distributor of cannabis products in the province.
Under the License, Delta 9 is authorized to acquire, store, sell and deliver cannabis in accordance with The Liquor, Gaming and Cannabis Control Act (Manitoba). The Company’s distribution services will allow out-of-province suppliers to improve logistics efficiencies and reduce shipping costs into the Manitoba market and will provide Delta 9 with additional diversified revenue streams.
“We see Delta 9’s entry into the distribution services space to be the logical next step in the Company’s vertical integration strategy,” said John Arbuthnot, CEO of Delta 9, “Our existing relationships with the Canadian cannabis industry’s leading suppliers and centralized warehouse presence in Winnipeg make us the ideal provider of these market services.”
Retail cannabis sales in Manitoba for the twelve months ending August 30, 2022, exceeded $169 Million, according to data from Statistics Canada, with more than 150 licensed retail stores in operation as of September 30, 2022. The Company intends to begin executing distribution agreements with suppliers immediately and anticipates distribution shipments will begin in Q4, 2022.
The Company’s License is valid from October 20, 2022, and expires September 30, 2023.
For more information contact:
Investor & Media Contact:
Ian Chadsey, VP Corporate Affairs
E-mail: [email protected]
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