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48North Cannabis Corp. (V:NRTH)

Business Focus: Alternative Medicine

Sector:  Healthcare Industry:  Pharmaceuticals
See Regulatory Filings on SEDAR
Company Contact
Address: 243 Queen Street West, Suite 200
Toronto CA M5V 1Z4
Tel: N/A
IR: See website
Key People
Business Overview
48North Cannabis Corp is a Canada-based company, which manufactures cannabis-based products for medical purposes. The Company's subsidiary, DelShen Therapeutics, is a licensed producer of medical cannabis in Canada. 48North Cannabis Corp grows genetics sourced from MariPharm BV, a Netherlands-based phytopharmaceutical company engaged in the research and cultivation of cannabis for medical purposes. DelShen Therapeutics is regulated by the Access to Cannabis for Medical Purposes Regulations (ACMPR) and the facility is located on an approximately 800-acres of owned land near Kirkland Lake, Ontario, Canada. DelShen Therapeutics operates in an approximately 40,000-square-foot closed-box facility, which produces more than 2,000 kilograms of cannabis annually.
Financial Overview
For the nine months ended 31 March 2020, 48NorthCannabis Corp revenues increased 23% to C$5.3M. Net lossincreased from C$3.4M to C$21.6M. Revenues reflect Revenueincrease of 43% to C$6.2M. Higher net loss reflects Generaland administrative increase from C$4.3M to C$12.8M(expense), G/Lon Valuation of Inventory increase fromC$2.2M to C$8.5M (expense), Sales and marketing increasefrom C$1.4M to C$4.2M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $5.81M as of Sep 30, 2020
EBITDA (TTM): -$22.75M as of Sep 30, 2020
Net annual income (TTM): -$26.36M as of Sep 30, 2020
Free cash flow (TTM): -$36.11M as of Sep 30, 2020
Net Debt Last Fiscal Year: N/A
Shares outstanding: 186,530,833 as of Nov 20, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization