INVESTOR PRESENTATION JULY 2020
48NORTH CANNABIS CORP.
TSXV: NRTH
INVESTOR PRESENTATION PAGE 02
FORWARD-LOOKING STATEMENTS
DISCLAIMER AND CAUTIONARY STATEMENTSThis presentation is current as of July 15, 2020, and contains “forward-looking information” within
the meaning of applicable Canadian securities laws and “forward-looking statements” within the
meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “Forward-
Looking Statements”). These include, but are not limited to, statements with respect to the future
financial or operating performance of 48North Cannabis Corp. and its subsidiaries (“48North” or the
“Company”), the market conditions, business strategy, corporate plans, objectives and goals, the
estimates of the timing, cost, nature and results of corporate plans, or the strategy for the
development of the Company’s cannabis business. All statements, other than statements of
historical fact, that address activities, events or developments that the Company believes, expects
or anticipates will, may, could or might occur in the future are Forward-Looking Statements. The
words “expect,” “anticipate,” “estimate,” “may,” “could,” “might,” “will,” “would,” “should,”
“intend,” “believe,” “target,” “budget,” “plan,” “strategy,” “goals,” “objectives,” “projection” or the
negative of any of these words and similar expressions are intended to identify Forward-Looking
Statements, although these words may not be present in all Forward-Looking Statements.
FORWARD-LOOKING STATEMENTSAre subject to a number of risks and uncertainties that may cause the actual events or results to differ
materially from those discussed in the Forward-Looking Statements, and even if events or results
discussed in the Forward-Looking Statements are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on, the Company. Should one
or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in the Forward-Looking Statements.
The Company’s Forward-Looking Statements are based on beliefs, expectations and opinions of
management on the date the statements are made. A number of important facts could cause actual
results to differ materially from those indicated by the Forward- Looking Statements, including, but
not limited to, the risks described herein. For the reasons set forth above, investors should not place
undue reliance on Forward-Looking Statements. The Company undertakes no obligation to update its
Forward-Looking Statements to reflect events or circumstances after the date of this presentation or
to reflect the occurrence of unanticipated events other than as required by law. Accordingly, readers
should not place undue reliance on Forward-Looking Statements.
The information contained in this presentation and its attachments is privileged, confidential and
protected from disclosure. Please ensure that you do not forward, disseminate, distribute or copy this
presentation and its attachments.
© 2020 48North Cannabis Corp. All rights reserved. 48North Cannabis Corp., the 48North logos, and all other products or service names are trademarks of 48North Cannabis Corp. or their respective owners.
INVESTOR PRESENTATION PAGE 03
CORPORATE OVERVIEW
48North is a vertically integrated Licensed Producer focused on manufacturing high-quality products, building progressive and thought-provoking brands, and low-cost cultivation.
48North’s assets include a disruptive, large-scale, low-cost, 100-acre
outdoor farm; two modern, indoor licensed facilities; and partnerships
with leaders in cannabis, manufacturing and consumer packaged goods.
As industry trends shift to the point where there is more supply than
demand, 48North’s ability to compete on both cost and quality is a key
differentiator.
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48NORTH’S DIFFERENTIATORS
AUTHENTICITY 48North is a locally bred, Canadian-focused Licensed Producer with popular
products, a memorable brand, and a clear vision for more conscious cannabis
consumption. Unlike so many of its peers, 48North has resisted the temptation
to embark on “global conquest” in an effort to rapidly scale up and
accumulate wealth. The company has stayed nimble. It has stayed focused on
its products and its brand.
DOMESTIC FOCUSSeveral of our competitors have faced criticism of unrestrained perceived
growth, 48North’s relatively simplified focus on the Canadian market presents
a competitive advantage. As Canadian consumers demand quality and
consistency, we make this our primary focus. 48North has supply agreements
in seven Canadian provinces, representing 95% of the population.
PRODUCT AND BRAND FIRST STRATEGY48North develops consistent, high-quality, well-branded, and accessible
cannabis products that are in high demand by Canadian consumers. While this
demand and recognition is a differentiator from 48North’s immediate
competitors, it needs to be matched by reliable supply, broad distribution,
and commitment to consistency.
LOW COST, HIGH-QUALITYOne of 48North’s clear market advantages is the company’s ability to cultivate outdoor cannabis at a fraction of the cost without sacrificing quality. In addition, 48North cultivates high-quality, craft, small-batch
cannabis at its indoor facility, delshen. As industry trends shift to the point
where there is more supply than demand, 48North’s ability to beat
competitors on both cost and quality is a key differentiator.
INVESTOR PRESENTATION PAGE 05
CORPORATE OVERVIEW
40,000 sq. ft. cultivation and
processing facility in Kirkland Lake,
Ontario
Premium indoor-grown cannabis for retail distribution
100-acreoutdoor
cultivation inBrant County,
Ontario
46,000 sq. ft. manufacturing and processing facility
in Brantford, Ontario
Manufacturing, contract manufacturing, processing, packaging,
and distribution of cannabis from
Good:Farm
Premium sun-grown cannabis
for retail and next-generation
products
INVESTOR PRESENTATION PAGE 06
Licensed Production Facilities
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OUTDOOR CULTIVATION
100-acre outdoor farm.
Summer/Fall 2020 will mark 48North’s second planting at Good:Farm.With a year of experience cultivating cannabis under its belt, 48North believes it continues to have a significant head start on its competitors.
Organic cultivation is certified by Clean Green. Clean Green cannabis
processor/handler certification is for the processor/handler who maintains a
clean and sustainable business environment. In addition, 48North is a leader in
the regenerative organic farming movement.
One of the largest cultivation facilities in the world with over 3.7 million square feet of cultivation space.
Next-generation cannabis products such as vapes and topical products are
most cost effectively manufactured with cannabis grown outdoors, without
compromising cannabinoid and terpene content.
INVESTOR PRESENTATION PAGE 08
OUTDOOR CULTIVATION
Next generation cannabis products require high-quality, low-cost and
consistent inputs, cannabis cultivated outdoors is the most efficient and
effective ingredient for the development of these products.
Production is expected to be one of the most environmentally friendly and energy-efficient method of cannabis cultivation in the country.
$0.50
$1.00
$1.50
$2.00
INDOOR GREENHOUSE OUTDOOR
INVESTOR PRESENTATION PAGE 09
INDOOR CULTIVATION
40,000 sq. ft. state-of-the-art indoor cultivation facility located on 800 acres of land.
Annualized production capacity expected of approximately 2,000 kg of dried cannabis.
Licensed to cultivate and sell cannabis as well as produce, extract and sell cannabis oil (topical products, edibles, vapes, etc.).
At delshen, 48North cultivates high-quality, small-batch craft cannabis for the
premium dried flower market.
INVESTOR PRESENTATION PAGE 10
PROCESSING, MANUFACTURING AND PACKAGING
GOOD: HOUSE FUME LABS46,000 sq. ft. state-of-the-art indoor processing facility located on five acres. Facility is expandable to 350,000 sq. ft.
10-minutes away from the Good:Farm, Good:House serves as the processing, manufacturing, packaging, and distribution hub for 48North’s outdoor cultivation site.
Semi-manual and automated packaging lines for dried flower, an excise tax
stamping line, secure storage space, pre-roll manufacturing capacity and
topical production capacity.
At Good:House, 48North manufactures its own products, and contracts
manufactures products for other Licensed Producers, cannabis brands, and
pharmaceutical companies.
Licensed to cultivate cannabis and process cannabis oil.
Fume Labs, a strategic partnership with humble+fume, located within the
Good:House, is pushing the boundaries of cannabis concentrates, defining a
higher standard for extraction and leading the industry in formulation expertise.
Our platform offers the end-to-end production and distribution of market-
ready products that deliver high-quality and authentic cannabis experiences.
Fume Labs can currently process approximately 30,000 kg of cannabis biomass annually
For comparisons sake, 30,000 kg of extraction capacity would enable the company to supply the market with approximately five million concentrate
vaporizers, among other products, annually.
Experience developing products with C02, ethanol and solvent less extraction processes.
INVESTOR PRESENTATION PAGE 11
Wholesale and Contract Manufacturing Business
INVESTOR PRESENTATION PAGE 12
WHOLESALE AND CONTRACT MANUFACTURING OPERATION, pt. 1
FORMULATIONS
THIRDPARTY
TESTING
DISTILLATE
WINTERIZED CO2
BUBBLE HASH
FULL MELT DRY SIFT HASH
LIVE ROSIN
DRY SIFT ROSIN
LIVE ROSIN PODS
SOLVENTLESS PODS
WHITE HASH
QUALITY ASSURANCE
LICENSEDPRODUCERS
CANNABISBRANDS
PHARMAOTHER
LICENSEDPRODUCERS
48North, through its strategic partnership with humble+fume, has the capacity to contract manufacture cannabis products for Licensed Producers, cannabis brands and pharmaceutical companies, this includes Pax Labs.
INVESTOR PRESENTATION PAGE 13
WHOLESALE AND CONTRACT MANUFACTURING OPERATION, pt. 2
FORMULATIONS
THIRDPARTY
TESTING
TOPICALS
PREROLLS
DRIED FLOWER
QUALITY ASSURANCE
LICENSEDPRODUCERS
48NORTHPRODUCTS
CANNABISBRANDS
PHARMA
OTHER LICENSED
PRODUCERS
48North has the capacity to contract manufacture cannabis products for Licensed Producers, cannabis brands and pharmaceutical companies.
INVESTOR PRESENTATION PAGE 14
48North Consumer-facing
Business
INVESTOR PRESENTATION PAGE 15
48NORTH’S CANADIAN DISTRIBUTION CHANNELS
NorthernTerritories
Yukon
BritishColumbia
Alberta
Nunavut
Manitoba
Saskatchewan Ontario
Quebec
Newfoundland and Labrador
NewBrunswick
NovaScotia
Prince Edward Island
Canadian Population by Province
* This graphic represents provinces in which 48North has signed supply agreements, currently 48North products are available in Ontario, Alberta, Quebec, Saskatchewan, and British Columbia
INVESTOR PRESENTATION PAGE 16
BRAND
High quality products
All 48North brands embody these fundamental pillars, consistently reinforcing a powerful, values-based positioning. Specifically, these are reinforced by:
Progressive, thought-provokingbrands
Natural alternatives when it comes to therapies and medical solutions and
Striving for Better
INVESTOR PRESENTATION PAGE 17
BRAND
At 48North, we believe that high-quality cannabis is the result of sustainable production and farming techniques. Our quality products are clean and free from pesticides, ensuring you can inhale (and exhale) with the greatest of ease.
For a life well lived, head well north.
INSTAGRAM@48nrth
WEBSITE48nrth.com
INVESTOR PRESENTATION PAGE 18
BRAND
Apothecanna, a true innovator in the US cannabis space that is focused on
high performance topicals, has been a leader in the United States cannabis
market since its founding in 2009. Apothecanna's formulas blend all-natural,
premium plant-based extracts that are created without the use of artificial
ingredients, fillers, parabens, or GMO ingredients.
48North has signed an exclusive licensing agreement with U.S-based APCNA
Holdings LLC., to bring its best selling, premium cannabis topical brand to
Canadian consumers.
INSTAGRAM@apothecanna
WEBSITEapothecanna.com
48North signed an exclusive Canadian Licensing Agreement with Apothecanna, the company does not own the Apothecanna brand
INVESTOR PRESENTATION PAGE 19
BRAND
Avitas is uniquely poised to take advantage of the cannabis-curious audience focussed on health and wellness. Avitas is concerned about what consumers are putting in their bodies and offers premium, high-quality cannabis products. 48North is licensing Avitas’ proprietary 100-per-cent natural, additive-free, single-strain, ultra-refined and purified products, including vape-pens.
INSTAGRAM@avitas_grown
WEBSITEavitasgrown.com
48North signed an exclusive Canadian Licensing Agreement with Avitas, the company does not own the Avitas brand
INVESTOR PRESENTATION PAGE 20
ACCESSORIES LINE
F8 accessories exist to connect and deepen people’s relationship with the objects that inhabit their everyday world. F8 believes design should be purposeful, versatile and stimulating, crafted with lasting style that inspires individual exploration and expression.
WEBSITEf8te.ca
INVESTOR PRESENTATION PAGE 21
CUSTOMER ACTIVATION RESOURCE
Latitude is an interactive, omni-channel that empowers cannabis users to connect, engage and share their personal storieswith cannabis. Latitude exists as a book, a website, a newsletter and storytelling events.
INSTAGRAM@explorelatitude
WEBSITEexplorelatitude.com
FLOWER
48North flower continues to expand our portfolio of products across formats and tiers
PRE-ROLLS TOPICALSHASH VAPES
BEST
BETTER
GOOD
Granddaddy Purple 3x0.35 g
Strain Hunters™ Franco’s Lemon Cheese™ 3x0.5 g
Green Crush 3.5 g Power Plant 3.5 g Kosher Kush 3.5 g
Paris OG 3.5 g Coming Soon Coming Soon
Strain Hunters™ Franco’s Lemon Cheese™ 3.5 g
Strain Hunters™ Holy Punch 3.5 g
Fleur Du Jour 3.5 g
Extra Strength Body Oil, 28 g Coming Soon
Extra Strength Body Oil, 60 g
Extra Strength Body Oil, 236 g Coming Soon
Daytrip EclipseAll-in-One Pen 0.4g
Moonlight ShadowAll-in-One Pen 0.4g
Daytrip Eclipse PAX Pod, 0.5g
Moonlight ShadowPAX Pod, 0.5g
Traditional PressedHashish 1.0 gComing Soon
Green CrushAll-in-One Pen, 0.4g COMING AUG ‘20
Silver Lemon 1:1All-in-One Pen, 0.4g COMING AUG ‘20
Super Citrus Haze0.5 g
Green CrushPAX Pod, 0.4g COMING AUG ‘20
Silver Lemon 1:1PAX Pod, 0.4g COMING AUG ‘20
INVESTOR PRESENTATION PAGE 22
INVESTOR PRESENTATION PAGE 23
Management Team
INVESTOR PRESENTATION PAGE 24
MANAGEMENT TEAM
CHARLES VENNATCHIEF EXECUTIVE OFFICERCharles, an accomplished entrepreneur with extensive experience working in highly-regulated sectors, most recently as President of Bastos of Canada Ltd., a manufacturer of tobacco products, focuses on driving the corporation's business plan and strategic vision.
RICHARD MELOFFSVP, SALES AND COMMERCIALIZATIONRichard brings more than 12 years of experience in product development and general management to his role as senior vice-president, sales and commercialization at 48North. He holds a JD/MBA from the University of Toronto and a BA from McGill University.
DAVID HACKETTCHIEF FINANCIAL OFFICERDavid is a CPA, CA and holds an MBA from the Richard Ivey School of Business at the University of Western Ontario and brings more than 20 years of financial and management leadership to 48North.
KIRSTEN GAUTHIERCHIEF MARKETING OFFICERKirsten is an entrepreneur and creative leader with more than 21 years of award-winning experience who brings innovative solutions and brand-building skills to 48North.
STEPHEN LACROCEVP OF CORPORATE DEVELOPMENTSteven brings over 8 years of experience from the automotive industry, with a background in manufacturing finance and asset management. A leader in the management of capital investment strategies and planning, Steven offers a wealth of knowledge in lean manufacturing, strategic corporate planning and financial analysis.
INVESTOR PRESENTATION PAGE 25
Board of Directors
INVESTOR PRESENTATION PAGE 26
BOARD OF DIRECTORS
THE HONOURABLE MARTIN CAUCHONMr. Cauchon was first elected to political office in October 1993 in the federal riding of Outremont. He has held many cabinet positions, including Minister of National Revenue, Minister of Justice and Attorney General of Canada. As Justice Minister, he introduced in 2003 legislation decriminalizing the possession of small amounts of cannabis.
ALAIN DUBUCMr. Dubuc is an economist, author and journalist. He is the national affairs columnist for the Montréal Daily La Presse and is the recipient of numerous awards, including the National Newspaper Award for editorial commentary and the Public Policy Forum Hyman Solomon Award for excellence in journalism. He sits on several boards, including the Institute for Research on Public Policy and the McGill Institute for the Study of Canada. He has written seven books on economics and political subjects and was named an Officer of the Order of Canada in 2011.
WILLIAM ASSINIMr. Assini is CPA/CA and was both a Senior Vice President and a Partner at PriceWaterhouseCoopers LLP for more than 20 years, where he had advisory responsibility for southwestern Ontario. Mr. Assini is currently a director and audit chair of IG Wealth Management, R.F.A. Bank of Canada and IG Trust Company. He was also a past director of GoviEx Uranium Inc., M.R.S. Trust Company, Canada Fluorspar Inc. and Mettrum Health Corporation.
ANN DARCHEMs. Darche is a marketing and consumer trends specialist with a 20-year career in Montreal advertising agencies. The agency she helped build and administer, Allard Johnson (now KBS), has become one of Canada’s leading advertising firms. A respected speaker, she has been heard regularly on Radio Canada sharing her views on trends, breakthroughs and market disruptions. Ms. Darche also serves as a director for Groupe Germain Hotels and KDC, a leading North American contract manufacturer of health and beauty care products.
LIEUTENANT GENERAL JAMES C. GERVAIS (RETIRED)
Mr. Gervais is a retired Army Commander of the Canadian Armed Forces who also served 12 years as a public servant as Assistant Deputy Minister to Canada’s Governor General. In retirement, he has been a director on the boards of several mining companies and has served as the Chairman of the Board of Commissionaires Ottawa, the largest not-for-profit security firm employing military and RCMP veterans.
SUSAN NICKLE
Susan is an accomplished and strategic executive, committed to operational and governance excellence. Currently, Susan is the Executive Vice President, Chief People Officer and General Counsel at London Health Sciences Centre.
INVESTOR PRESENTATION PAGE 27
MILESTONES
JUN 2018
Listed on the TSXV: NRTH
Received necessary licenses at delshen, Good & Green, and
Good:Farm
Raised $68.25 MM through a variety of vehicles, including
investment from Canopy Growth Corp.
Began retail distribution in Ontario,
Quebec and Alberta
Commenced contract manufacturing
business, Fume Labs
Continue launching next-generation
cannabis products
Building on the Pax agreement, announce
additional contract manufacturing partners
at Fume Labs
Complete build-out of Phase 2 at Good:House, complete state
of the art drying facilities at Good:Farm, receive license
amendments Good:Farm
Continue launching products and brands
Canada wide
SEPT 2018 TO
MAR 2019
JAN 2018 TO
MAY 2019APR 2019 FEB 2020
ONGOING ONGOINGJUN 2020
TO AUG 2020
AUG 2020
INVESTOR PRESENTATION PAGE 28
CAPITAL STRUCTURE
Shareholder Ownership
CAPITALIZATION TABLE (AS OF MAY 31, 2020)
Basic Common Shares Outstanding
Options and RSU’s
Broker Compensation Options
Warrants
Total Issued and Outstanding (Fully Diluted)
176,030,500
18,706,090
1,846,457
19,237,739
215,820,785
Cash (as of March 31, 2020) $17,821,274
NRTH (TSX-V)
*As of June 2, 2020Stock PriceAverage Volume
Market Cap
52 Week High
52 Week Low
$0.23
737,430
39,820,000
0.99
0.07
INVESTOR PRESENTATION PAGE 29
INVESTMENT HIGHLIGHTS
LOW-COST PRODUCTION
Outdoor cannabis grown at approximately $0.25/gram
from Good:Farm
NEXT GENERATION PRODUCTS
Focused on innovative next-generation products for health and wellness market
DIFFERENTIATED BRANDS
Strong, authentic and trusted brands
STRATEGIC PARTNERS
Best-in-class companies and organizations providing industry-
leading expertise, capabilities, brands and products
EXPERIENCED TEAM
Proven management and Board of Directors with strong
character, passion and exceptional industry
experience
PROFITABILITY
Committed to a profit-oriented approach driven by disciplined investments, industry-leading yields, operational excellence
and low-cost production
CORPORATE SOCIAL RESPONSIBILITY
Substantive commitment to all stakeholders and communities with
publicly stated objectives and reporting with strong corporate culture to
attract and retain best-in-class people
INVESTOR PRESENTATION JULY 2020
CONTACT US
Connor WhitworthSenior Director of Corporate [email protected]
48North Cannabis Corp. 257 Adelaide Street West, Suite 500Toronto ON M5H 1X9
48nrth.com