- 48North Cannabis (TSXV:NRTH) has signed a supply agreement with the medical cannabis subsidiary of Shoppers Drug Mart
- The company will supply its cannabis brands and products for purchase via Shoppers’ online sales platform
- 48North plans to start with the introduction of its cannabis topical brand, Apothecanna, to Shoppers’ patients
- The supply agreement has an initial three-year term, but is renewable for an additional two years
- 48North Cannabis (NRTH) is up 5.71 per cent, and is currently trading for $0.18 per share
48North Cannabis (TSXV:NRTH) has signed a key supply agreement with the medical cannabis subsidiary of Shoppers Drug Mart.
Medical Cannabis by Shoppers Drug Mart signed the three-year agreement, which is renewable for an additional two years.
Per the agreement, 48North will supply its cannabis brands and products for purchase on the Shoppers’ online sales platform. This will extend the reach of 48North’s branded products to patients of Medical Cannabis by Shoppers all over Canada.
The company is planning to kick off the agreement by introducing its cannabis topical brand, Apothecanna, to Shoppers’ customers. The brand has enjoyed great popularity in the United States since 2009.
As the three-year supply agreement progresses, 48North will add more of its various cannabis brands and products to Shoppers’ offering.
48North’s CEO, Charles Vennat, welcomed the agreement.
“Partnering with trusted brands like Medical Cannabis by Shoppers has been a cornerstone of 48North’s growth plan since the beginning. The company continues to sign agreements and build meaningful partnerships with a collection of the most beloved and trusted brands in Canada.
“Today’s news, announced on the heels of the company’s agreements with Indigo and Pax, continues to build on 48North’s momentum. 48North can now truly say that its brand and products are available across the country,” he said.
Charles went on to say that the company looks forward to bringing its products to medical cannabis patients.
48North Cannabis (NRTH) is up 5.71 per cent, and is trading for $0.18 per share, as of 10:18am EDT.