48North and humble+fume Launch State-of-the Art Manufacturing Facility for Cannabis 2.0 Products
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8North Cannabis Corp. (48North or the Company) (TSXV:NRTH), formally announced the creation of Fume Labs, a strategic partnership between 48North and Humble and Fume (humble+fume).
Building on the success of the previously announced extraction partnership and outdoor supply agreement between 48North and humble+fume, the two companies will combine forces to supply the legal cannabis vaporizer market in the most cost-effective and efficient manner.
Fume Labs, the cannabis-focused manufacturing and extraction entity birthed out of this strategic partnership will operate out of 48North's fully-licensed processing and propagation facility GoodHouse, located in Brantford, ON (Facility).
Fume Labs will service this strategic partnership in several mutually advantageous ways, including, but not limited to
the manufacturing of 48North's and humble+fume branded cannabis products, specializing in the concentrate extraction and refinement, formulation and filling, and packaging and distribution of vaporizer products;
the contract manufacturing of cannabis products for other Licensed Producers and cannabis brands;
Fume Labs will leverage humble+fume's extensive nationwide sales and distribution network, and act as the sales agency for products produced at the Facility; and
Fume Labs will be a natural partner for 48North's GoodFarm, one of Canada's lowest-cost cannabis cultivation facilities located 10-minutes away from the Facility. To that end, Fume Labs will purchase 48North cannabis biomass, subject to certain conditions.
Both 48North and humble+fume will uniquely benefit from this strategic partnership, these benefits include, but are not limited to industry-leading extraction expertise, a consistent input of high-quality and low-cost cannabis biomass, access to nationwide distribution and sales channels, and as a result will expect to see significant operational cost savings.
48North and humble+fume are each responsible for 50 per cent of the aggregrate shared expenses and each company will be entitled to 50 per cent of the net revenue from any vaporizer product finished at the Facility. 48North will be the party responsible for manufacturing, packaging, marketing, and promoting, and selling products from Fume Labs under the authority of its cannabis licenses.
In addition, 48North is pleased to announce that is has secured product listings for vaporizer products in new Canadian markets, including British Colombia, Saskatchewan, Manitoba, and New Brunswick. As a result, 48North products will become available in 7 out of 10 Canadian provinces, representing over 95 per cent of the population.
✔️ 48North and humble+fume Launch State-of-the Art Manufacturing Facility for Cannabis 2.0 Products
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