17:02:04 EDT Fri 18 Jun 2021
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Delta 9 Cannabis Inc
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Close 2021-02-09 C$ 0.60
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Delta 9's Oceanic receives cultivation licences

2021-02-09 18:08 ET - News Release

Mr. John Arbuthnot reports


Delta 9 Cannabis Inc.'s strategic partner Oceanic Releaf Inc. has been granted its cannabis cultivation licences from Health Canada for standard cannabis and processing operations. Delta 9 owns a 5-per-cent equity stake in Oceanic's production facility operations and a retail store and has a 20-year supply agreement with Oceanic and the government of Newfoundland and Labrador.

"We look forward to continuing working with Oceanic on expanding their cultivation and retail operations in Newfoundland," said John Arbuthnot, chief executive officer of Delta 9. "We are very excited to be able to offer the residents of Newfoundland and Labrador the best selection of cannabis products and to work with Oceanic to create a world-class production facility."

Oceanic has a strategic co-operation agreement (SCA) with Delta 9 that provides a variety of services relating to the cannabis production, development of standard operating procedures and sanitation programs, marketing services to develop the Oceanic brand, and other services supporting the acquisition of the Health Canada licence.

"This is a major milestone for Oceanic and an exciting day for Oceanic as we become a vertically integrated cannabis producer," said Taylor Giovannini, president of Oceanic. "We are so excited to be able to supply the local market, and beyond, with premium cannabis cultivated right here in our province. Having just opened the first of what we hope will be many retail experiences across the province, including the area's first cannabis drive-through. We're happy to be bringing some well-deserved good news stories to our cannabis industry."

Oceanic owns an existing 63,000-square-foot production facility that will begin growing cannabis hydroponically in a 15,000-square-foot portion of the building. This section of the facility is equipped with state-of-the-art cultivation equipment, and includes some of the latest technology surrounding climate control and grow room automation. Oceanic plans to incorporate more innovative sustainability in future phases of expansion. Oceanic expects this phase of the operation to be the first step in a more significant growth strategy to eventually utilize the entire production facility.

Oceanic acquired a variety of 30-plus cultivars that vary between sativa and indica cannabis strains and include various levels of CBD (cannabidiol) and THC (tetrahydrocannabinol) levels. The initial plan is to begin production with five cannabis strains. Oceanic is a vertically integrated cannabis company focused on bringing the highest-quality cannabis products to market. Oceanic recently opened a 2,300-square-foot cannabis store in the province of Newfoundland and Labrador, which is located in Burin Bay Arm, on Dec. 15, 2020. The new store is the largest cannabis retail store in the area, offering a drive-through option for customers who want to remain in their cars when they make a purchase. This was the first drive-through cannabis store in Canada. Oceanic will also open a store in St. John's, Nfld., by the end of 2021, and will have plans to expand throughout Newfoundland and Labrador.

About Delta 9 Cannabis Inc.

Delta 9 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, Man., 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.

About Oceanic Releaf Inc.

Oceanic is a vertically integrated cannabis company operating out of a 65,000-square-foot cultivation facility. Oceanic opened its first of two retail stores in December, 2020. Oceanic will offer fresh, clean products from one of the last unspoiled areas in the world. It will produce premium cannabis for both medicinal and recreational use. With a vast range of products that will suit each individual preference, its offerings are guaranteed to please. The company believes that high-quality cannabis can change the world. Based in the rural Newfoundland setting of the Burin peninsula, Oceanic's cultivation facility is housed in a converted secondary processing plant nestled in the community of Burin. Oceanic seeks to bring positive change to communities through employment and wellness initiatives. It believes Oceanic, its products and its retail experiences will reflect the best of what the province has to offer: creativity, personality and bravery, an uncommon experience for the keen cannabis consumer.

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