48North Cannabis Corp. Reports Voting Results of Special Meeting of Shareholders

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TORONTO, March 22, 2018 /CNW/ - 48North Cannabis Corp. (the "Corporation" or "48North") announced today that at the 48North Special Meeting of Shareholders (the "Meeting") held Tuesday, March 20, 2018, in Toronto, shareholders voted unanimously for the special resolution approving the amalgamation of Kramer Capital Corp. ("Kramer") with 48North.

The scrutineers' report by TSX Trust Company confirmed that a total of 45,535,047 shares were represented personally or by proxy, or 77.79% of the issued and outstanding common shares of 48North. The scrutineers' report confirmed that a quorum was present and that the Meeting was duly constituted.

Of the 45,535,047 shares voted, 100% voted in favour of the amalgamation, the complete details of which were provided by Kramer in a press release dated March 8, 2018.

Summary of Amalgamation

• On February 28, 2018, 48North entered into a definitive agreement with Kramer whereby Kramer will acquire, subject to certain conditions, all of the outstanding securities of 48North (the "Transaction").
  
  
• The acquisition is to be completed by way of a three-cornered amalgamation. Upon completion of the Transaction, 48North will become a wholly-owned subsidiary of Kramer, and Kramer will change its name to "48North Cannabis Corp." The combined entity will continue the business of 48North.

About 48North

48North is a private, vertically integrated cannabis company with 150 shareholders. Its first ACMPR-licensed facility is located on 800 acres of owned land near Kirkland Lake, Ont., and operated by its wholly owned subsidiary, DelShen Therapeutics Corp. 48North grows unique genetics sourced from MariPharm BV, a Netherlands-based phytopharmaceutical company with over 25 years of experience in the research and cultivation of cannabis for medical purposes. Its genetics are grown to exacting standards, ensuring patients can count on receiving the highest-quality cannabis products. 48North's values are rooted in the land they are planted on, and 48North has entered into a first-of-its-kind community benefits agreement with certain of its First Nations investors.

DelShen is authorized by Health Canada as a licensed producer of dried and fresh cannabis and cannabis oil for medical purposes pursuant to the ACMPR. DelShen's licence to produce cannabis was granted on Feb. 28, 2017, and pertains to the facility, a state-of-the-art, closed-box, 40,000-square-foot building with an additional 200,000 square feet of production space planned within the current security perimeter.

About Kramer

Kramer was incorporated under the laws of Alberta and continued into British Columbia in August, 2016. The Transaction, once completed, is intended to constitute Kramer's qualifying transaction pursuant to Policy 2.4 of the corporate finance manual of the TSX Venture Exchange ("Exchange").  Kramer is a reporting issuer in the provinces of British Columbia, Alberta and Ontario, and its common shares are listed and posted for trading on the NEX board of the Exchange. In accordance with the policies of the Exchange, the common shares of Kramer are currently halted from trading and will remain halted until further notice. Kramer's head office in located in Vancouver, B.C.

Forward-looking statements

Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended.

There can be no assurance that such forward-looking statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law, and the Company does not assume any liability for disclosure relating to any other company mentioned herein.

SOURCE 48North Cannabis Corp.