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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: 257 Adelaide Street West, Suite 500
Toronto ON M5H 1X9
Tel: N/A
IR: See website
Key People
Martin Cauchon
Chairman of the Board
Charles Vennat
Chief Executive Officer, Director
Alison Gordon
Co-Chief Executive Officer
Jeannette Nancy Vandermarel
Co-Chief Executive Officer
David Hackett
Chief Financial Officer
Kevin Helfand
Chief Operating Officer
Kirsten Gauthier
Chief Marketing Officer
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 2021, 48NorthCannabis Corp revenues increased from C$5.2M to C$15.3M.Net loss before extraordinary items increased 17% toC$24.5M. Revenues reflect Canada segment increase of 7% toC$5.6M. Higher net loss reflects FV Adjustments onBiological Assets increase from C$9M (income) to C$648K(expense), Impairment offixed assets increase from C$0K toC$4.8M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $20.84M as of Mar 31, 2021
Annual revenue (TTM): $18.77M as of Mar 31, 2021
EBITDA (TTM): -$16.51M as of Mar 31, 2021
Net annual income (TTM): -$37.81M as of Mar 31, 2021
Free cash flow (TTM): -$25.08M as of Mar 31, 2021
Net Debt Last Fiscal Year: $3.67M as of Mar 31, 2021
Shares outstanding: 225,312,227 as of Jul 20, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization