48North Cannabis (TSXV: NRTH) (OTC: NCNNF) said that it received its outdoor cultivation license from Health Canada for its 100-acre organic farm in Brant County, Ontario.

Good Farm

Dubbed Good Farm, the facility will become one of the largest-ever licensed cannabis operations in the world, according to a company’s statement.

The licensing of Good Farm will allow 48North to harvest in excess of 45,000 kilograms of dried cannabis in 2019 across its three Canadian facilities.

The company has also signed three supply agreements for cannabis from its Good Farm, including a historic outdoor cannabis agreement with the SQDC (the exclusive distributor of cannabis in Quebec) for 1,200 kg of dried cannabis; a supply agreement to provide 2,460 kilograms of dried cannabis to AGLC; and an agreement with Humble + Fume for 6,000 kg of dried cannabis and trim.

48North says it is on the track to produce over 40,000 kilograms of outdoor-grown organic cannabis this year at what is expected to be the lowest-cost per gram in Canada.

“Receiving the outdoor cultivation license from Health Canada for our Good Farm is an absolute game-changer for 48North and the cannabis industry,” Jeannette VanderMarel, the co-CEO of 48North, states.

Alison Gordon, the co-CEO of 48North, says that the company “is now better positioned than ever to deliver on its commitment to deliver high-quality cannabis products to the Canadian and international cannabis markets.”

“48North knows that consumer packaged goods brands looking to get into the cannabis space need a low-cost, consistent, and organic cannabis inputs, 48North’s Good Farm, without question, fulfills this need,” Gordon notes.

48North says that Good Farm has a number of strategic advantages, including ultra-low-cost cannabis, environment-friendly, and energy-efficient production. In addition, the company believes that the farm will provide a source of relief to the national shortage of recreational cannabis.