Delta 9 Cannabis Inc. Signs Letter of Intent with Pharmasave
WINNIPEG, April 10, 2018 /CNW/ – DELTA 9 CANNABIS INC. (TSXV: NINE) (“Delta 9” or the “Company”) has entered into a non-binding letter of intent (the “Letter of Intent”) to become a preferred supplier of medical cannabis to Pharmasave.
Delta 9 Cannabis was the fourth company chosen as a Licensed Producer in Canada, and has now signed an LOI to become a Preferred Supplier of medical cannabis through the Pharmasave chain of member-owned pharmacies. (CNW Group/Delta 9 Cannabis Inc.)
Pharmasave is a member owned and governed cooperative of more than 650 independent community pharmacies across Canada. Pharmasave believes that pharmacists, as medication management experts, play an important role in helping to improve patient care. For more than a year, Pharmasave has been providing education and resources on medical cannabis to help Pharmasave pharmacists understand more about the current regulations and learn more about the possible uses, benefits and risks of medical cannabis. Pharmacists can provide advice on potential drug-to-drug interactions and the therapeutic value of treatment options to patients and allied health professionals to help them make educated and informed decisions about products and monitoring.
Following execution of the Letter of Intent, the two companies are jointly working to conclude definitive agreements for supply and distribution of Delta 9’s medical cannabis through Pharmasave pharmacists, pending changes to Canadian legislation that would allow such distribution.
Delta 9 CEO John Arbuthnot says the agreement is part of Delta 9’s ongoing commitment to supplying patients with the medical products they need in a timely and reliable manner.
“There has been a lot of discussion about the upcoming legalization of recreational cannabis, but we at Delta 9 remain committed to providing our medical cannabis patients with the products they require,” Arbuthnot said. “Pharmasave and its member stores provide the expertise and professionalism this industry needs to ensure patients are receiving the correct products, and good advice on how to use these products for their particular condition or symptoms.”
“We believe this agreement with Pharmasave is a critical part of professionalizing the medical cannabis industry, and we are dedicated to providing the best products and service possible to our patients.”
The parties are currently working on agreement terms to ensure compliance with the Access to Cannabis for Medical Purposes Regulations (Canada) and all other applicable laws and regulations.
About Delta 9 Cannabis Inc.
Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical marijuana pursuant to the ACMPR and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9’s shares trade on the TSX Venture Exchange under the symbol “NINE”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 execution of definitive supply and distribution agreements between Pharmasave and Delta 9; and (ii) anticipated changes to cannabis legislation in Canada. 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 that Delta 9’s currently contemplated expansion and development plans may cease or otherwise change, Delta 9’s production of cannabis may be lower than expected, Delta 9 may not obtain the required approvals from Health Canada, demand for Delta 9’s products may be lower than anticipated, Delta 9’s cost to produce its grow pods may be higher than expected and all other risk factors set forth in the filing statement of Delta 9 dated October 25, 2017 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.
SOURCE Delta 9 Cannabis Inc.
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Gary Symons, Director of Communications, firstname.lastname@example.org, 250.300.9352 Copyright CNW Group 2018