WINNIPEG, Manitoba, May 25, 2020 (GLOBE NEWSWIRE) — DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: VRNDF) (“Delta 9” or the “Company”), is pleased to see the Manitoba Government pushing forward on the third phase of its retail cannabis expansion.
Delta 9 will be undertaking multiple expansion strategies and applying for licenses to open additional cannabis retail outlets in Manitoba, as a part of the third phase of retail cannabis expansion announced last week by the Manitoba Government.
On Friday May 22, 2020, Manitoba Minister of Crown Services Jeff Wharton announced that the Manitoba Government would be moving forward on its plan for an open and competitive cannabis retail market. Beginning June 1, 2020, the Province will open the cannabis retail application process to all prospective retailers for a new controlled-access license as well as the previous age-restricted license for operators of stand-alone retail stores.
“This move will enable local entrepreneurs to create jobs and support Manitoba’s economy, which is a critical step as we work toward rebuilding Manitoba in the wake of COVID-19,” said Minister Wharton.
“We are very pleased with the government’s announcement to expand and create an open and competitive cannabis retail landscape in the Province. As Manitoba’s largest cannabis industry employer and only vertically integrated cannabis company, we feel we are uniquely qualified to provide this important product and service to Manitobans,” said Arbuthnot. “We look forward to supporting the governments initiative and continuing to invest and create jobs here in the Province.”
In response to this announcement, the Company will undertake multiple strategies in its Manitoba retail expansion, namely;
|(i)||The Company will continue to build out a chain of corporate owned and operated “Delta 9 Cannabis Store” branded store fronts across the Province. The Company plans to open up to 12 retail locations over the next 24 months.|
|(ii)||The Company is exploring franchise opportunities which would allow local entrepreneurs to open stand-alone “Delta 9 Cannabis Store” branded store fronts under the age-restricted license category. The Company will provide its franchise partners with a turn-key platform which leverages the benefits of its expertise in cannabis retail including, store design, training and staff education programs, inventory tracking, financial plans, standard operating procedures, and systems, as well as support from its corporate head office.|
|(iii)||The Company is exploring franchise opportunities to open Delta 9 Express “Store-in-Store” operations under the controlled-access license category. The Company will partner with retail operators such as gas stations, hoteliers, convenience stores, etc. to provide a turn-key platform for such retailers to add Delta 9 cannabis products to their product offerings as well as providing training and staff education programs, inventory tracking, and support from its corporate head office.|
Parties who are interested in establishing an age-restricted or controlled-access Delta 9 franchise should contact the Company at email@example.com.
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. 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 “VRNDF”. For more information, please visit https://invest.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) the expansion of the Company’s retail cannabis business segment; and (ii) the roll-out of the Manitoba Government’s third phase of retail cannabis expansion in Manitoba. 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 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.