Northeast pot producer inks deal with cannabis major: 48North cashes up, adds second operation in southwestern Ontario.

• Date: 01 January 2019

A Toronto cannabis grower, with an operation near Kirkland Lake, has struck a supply and financing agreement with Canadian weed giant Canopy Growth Corporation.

48North Cannabis Corp. announced Dec. 3 that it has entered into two agreements to supply the Smith Falls-headquartered producer with dried cannabis grown at its DelShen Therapeutics facility, just outside of Kirkland Lake.

48North is also receiving $3 million from Canopy in exchange for three per cent ownership of the company.

The total volume of the supply agreement is estimated to be a minimum of 1,200 kilograms and deliverable over the course of 12 months...