48North to Introduce Premium Cannabis Brand in Canada

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48North Cannabis (OTCMKTS:NCNNF) has signed an exclusive licensing agreement with U.S.-based Arbor Pacific to introduce a premium cannabis brand in Canada.

Premium Cannabis Brand

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The premium brand is Avitas, which is available at more than 500 stores in Washington, Oregon, and Colorado. It is one of the best-selling single strain vaporizer cartridges in the U.S.

Avitas offers additive-free, single strain, ultra-refined and purified vaporizer cartridges. Single strain vaporizer cartridges represent the fastest-growing, next-generation cannabis product category in the U.S., 48North said in a statement.

Avitas Licensing Agreement

48North plans to bring next-generation cannabis products to Canadian consumers in fall 2019.

Under the agreement, 48North will license Avitas’ intellectual property and manufacturing techniques for domestic consumption in Canada, and for global export from Canada. The company will be the exclusive Canadian licensed producer of all present and future Avitas products as part of the deal.

“Without question, partnering with respected, well-established and well-recognized U.S.-brands like Avitas will be critical to 48North’s success in the development of next-generation cannabis products for the adult-use recreational cannabis market,” 48North CEO Alison Gordon said in a statement.

48North operates two indoor-licensed cannabis production sites in Ontario with more than 86,000 square feet of production capacity. In addition, the company expects to operate a 100-acre organic farm for sun-grown cannabis.

“Pending Health Canada approval, 48North’s 100-acre outdoor cannabis farm (“The Good Farm”) in Brant County, Ont., will be critical to 48North’s vape strategy. The Good Farm is expected to provide 48North with 40,000 kilograms of dried cannabis at a low-cost margin. Low-cost, high-quality cannabis will be critical in the development of next-generation cannabis products like vape cartridges,” Gordon stated.

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