Delta 9 obtained a production license from Health Canada in December 2013, followed by a license to distribute medical cannabis in March 18, 2014.
In May 2017, Delta 9 began working towards becoming a publicly traded company entering into an amalgamation agreement with SVT Capital Corp. On November 1st, 2017, Delta 9 Cannabis Inc. (formerly SVT Capital Corp.) (the “Company“) announced that it had completed its intended reverse takeover transaction (the “Transaction”), pursuant to which the Company has acquired all of the issued and outstanding shares of Delta 9 Bio-Tech Inc. (“Delta 9”) by way of a three-cornered amalgamation among the Company, Delta 9 and 10240907 Canada Corp. (“Newco”). The Company then began trading as a Tier 2 Industrial Issuer on the TSX Venture Exchange (the “TSXV”) under the symbol “NINE” at market open on Monday, November 6, 2017.
Delta 9 has established itself in its 80,000 square foot production facility in East Winnipeg and Production capacity is expected to increase from the current 1,000 kilograms per year, to 17,000 kilograms of high grade cannabis by 2020 with the creation of 300 new jobs.
Delta 9 Cannabis Inc. (TSXV:NINE) (“Delta 9” or the “Company”) is pleased to announce that it has entered into a limited partnership agreement with Westleaf Cannabis Inc. (“Westleaf”) and Delta West Inc. for the joint development of a large-scale cannabis production facility located in Southern Alberta (the “Project”). The entering into of a non-binding letter of intent in connection with the Project was previously announced by the Company on January 24, 2018. Delta West Inc. acts as general partner of the limited partnership formed by Delta 9 and Westleaf.
Delta 9 and Westleaf each own a 50% interest in the Project and will each initially contribute $3 million to the limited partnership, to be used together with debt financing, for initial development of the Project. The Project includes the planned retrofit of an existing building that will be equipped to support indoor cannabis cultivation, research and development, processing, and extraction operations as well as house a fulfillment centre to supply Canadian and global markets.
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