Delta 9 Cannabis Inc (TSX:DN) said it has completed its first shipment of bulk dried cannabis flower to a customer in Australia, marking the company’s first export of dried cannabis flower material to an international market.
The company said it has also received seven additional export permits from Health Canada, and intends to complete multiple shipments of dried cannabis flower and cannabis extracts to the Australian market in the first and second quarter of 2023. The shipments are anticipated to include approximately 100 kilograms of dried cannabis flower material and six kilograms of cannabis distillate.
Delta 9 said the expansion marks a “significant milestone” as it enters the global cannabis market.
“This shipment is our first step of many planned sales into the Australian medical cannabis market,” said John Arbuthnot, chief executive officer of Delta 9 in a statement.
“We see significant emerging market opportunities in international markets playing out over the next several years and anticipate that exports of cannabis products will become a key growth driver for us,” he added.
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Delta 9 said it views the international market as an emerging opportunity to increase revenue from its cannabis operations, adding that it is optimistic that an increasing number of global markets will refine regulations, allowing for lower-barrier access to high-quality cannabis products produced by trusted suppliers from Canada.
Delta 9 is a vertically integrated cannabis company focused on bringing the highest-quality cannabis products to market. The company sells cannabis products through its wholesale and retail sales channels, and sells its cannabis grow pods to other businesses.
Delta 9’s wholly-owned subsidiary, Delta 9 Bio-Tech Inc., is a licensed producer of medical and recreational cannabis, and operates an 80,000-square-foot production facility in Winnipeg, Manitoba, Canada. Delta 9 owns and operates a chain of retail stores under the Delta 9 Cannabis Store brand.