CBD OIL

A hands-on cannabis college focused on industry education, training, career placement, medical cannabis and more has expanded to central Florida.

Learn Sativa University’s (SATU) hands-on program has been in operation for roughly four years. The university started in a 1,000-square-foot building, but has recently expanded to a 5-acre cannabis farm and training facility in Apopka, Fla., said Patrick O’Brien, SATU founder and CEO.

The primary purpose of the college is pretty “straightforward,” O’Brien said. 

“We aim towards two paths, and we’re looking for two types of individuals: either ones looking to land rewarding careers in the industry, or individuals looking to start businesses. Whether it be in cultivation, dispensary, or anything along those lines, we can assist with business plans, curriculum and everything from top to bottom,” he said.

He said that the campus features an indoor climate-controlled grow and a 50,000-square-feet outdoor greenhouse where students can learn through hands-on training. The college also offers online training for those who cannot attend in person.

SATU’s hands-on and online courses include Marijuana Cookbook, Marijuana Laws, Marijuana Careers, Marijuana History, Marijuana Growing and Dispensary Management.

Each course is a one-time 8-hour class, and students receive a certificate tailored to the subject upon completion, he said.

© Courtesy of Learn Sativa University

© Courtesy of Learn Sativa University

The university also provides in-person students with lunch, books, study materials, lab equipment and much more.

“We provide everything from top to bottom to ensure that they’re prepared,” O’Brien said. “Typically, what ends up happening is a lot of people will come out here. They’ll take a vacation with their family. They’ll go ahead and complete the course, and then they can fly home. And then some of them tend to want to stay for the advanced courses, or others will come back a month or two later for those.”

“A lot of people want to test the waters at first because it’s still very crazy to hear the idea that there’s an actual cannabis college where you can come and acquire this knowledge,” he added.

SATU has had over 50,000 students enroll in either an online or hands-on course to date, and O’Brien said he’s had students from places like Brazil, Puerto Rico, Colombia and India.

While the courses prepare students for entry-level positions in the industry, O’Brien said several local companies and larger corporations have reached out to the SATU seeking qualified individuals to fulfill open positions.

“We have billion-dollar companies right now coming to us, like Curaleaf,” he said. “[These] companies are coming to us asking us for staff that are qualified, trained and have expertise in what we’re preparing them for, and it’s very exciting because now we have students in all these different management positions that only request Learn Sativa students within those facilities. That’s not all companies, but the ones especially local to us.”

“And beyond that, we’re starting to see a lot of the companies out in the [recreational] states currently requesting this,” he added. “The states themselves are requesting that you have a school backing to get the license, and they’re using our school to do that. It’s an amazing thing.”

© Courtesy of Learn Sativa University

Additionally, SATU features a dispensary that sells in-house products made by students.

“Some of the students that really take to creating incredible products, we will partner up, work with them and do a share so that they actually get a cut of products they sell through that program,” he said. “So, it’s a way for us to allow students to test out some of their products, and those change once in a while, but it just depends on who comes through the door.”

For example, an SATU student from Colombia who has a background in chemistry created a CBG oil, O’Brien shared, and the college worked alongside him to help launch that product.

“Essentially, what we’re providing to our students is a set of instructions,” he said. “They follow them; they end up with an end result. Sometimes it’s incredible. Sometimes it’s mediocre. It just depends how much they put into it.”

“The beauty I think behind this program is the networking,” he said. “If all you’re lacking is a little bump of tools, that little toolset you need, or the skills, maybe you need to just develop them; that’s what we provide you. So, long as you’re willing to swing that hammer, the sky’s the limit.”

A hands-on cannabis college focused on industry education, training, career placement, medical cannabis and more has expanded to central Florida.

Learn Sativa University’s (SATU) hands-on program has been in operation for roughly four years. The university started in a 1,000-square-foot building, but has recently expanded to a 5-acre cannabis farm and training facility in Apopka, Fla., said Patrick O’Brien, SATU founder and CEO.

The primary purpose of the college is pretty “straightforward,” O’Brien said. 

“We aim towards two paths, and we’re looking for two types of individuals: either ones looking to land rewarding careers in the industry, or individuals looking to start businesses. Whether it be in cultivation, dispensary, or anything along those lines, we can assist with business plans, curriculum and everything from top to bottom,” he said.

He said that the campus features an indoor climate-controlled grow and a 50,000-square-feet outdoor greenhouse where students can learn through hands-on training. The college also offers online training for those who cannot attend in person.

SATU’s hands-on and online courses include Marijuana Cookbook, Marijuana Laws, Marijuana Careers, Marijuana History, Marijuana Growing and Dispensary Management.

Each course is a one-time 8-hour class, and students receive a certificate tailored to the subject upon completion, he said.

© Courtesy of Learn Sativa University

© Courtesy of Learn Sativa University

The university also provides in-person students with lunch, books, study materials, lab equipment and much more.

“We provide everything from top to bottom to ensure that they’re prepared,” O’Brien said. “Typically, what ends up happening is a lot of people will come out here. They’ll take a vacation with their family. They’ll go ahead and complete the course, and then they can fly home. And then some of them tend to want to stay for the advanced courses, or others will come back a month or two later for those.”

“A lot of people want to test the waters at first because it’s still very crazy to hear the idea that there’s an actual cannabis college where you can come and acquire this knowledge,” he added.

SATU has had over 50,000 students enroll in either an online or hands-on course to date, and O’Brien said he’s had students from places like Brazil, Puerto Rico, Colombia and India.

While the courses prepare students for entry-level positions in the industry, O’Brien said several local companies and larger corporations have reached out to the SATU seeking qualified individuals to fulfill open positions.

“We have billion-dollar companies right now coming to us, like Curaleaf,” he said. “[These] companies are coming to us asking us for staff that are qualified, trained and have expertise in what we’re preparing them for, and it’s very exciting because now we have students in all these different management positions that only request Learn Sativa students within those facilities. That’s not all companies, but the ones especially local to us.”

“And beyond that, we’re starting to see a lot of the companies out in the [recreational] states currently requesting this,” he added. “The states themselves are requesting that you have a school backing to get the license, and they’re using our school to do that. It’s an amazing thing.”

© Courtesy of Learn Sativa University

Additionally, SATU features a dispensary that sells in-house products made by students.

“Some of the students that really take to creating incredible products, we will partner up, work with them and do a share so that they actually get a cut of products they sell through that program,” he said. “So, it’s a way for us to allow students to test out some of their products, and those change once in a while, but it just depends on who comes through the door.”

For example, an SATU student from Colombia who has a background in chemistry created a CBG oil, O’Brien shared, and the college worked alongside him to help launch that product.

“Essentially, what we’re providing to our students is a set of instructions,” he said. “They follow them; they end up with an end result. Sometimes it’s incredible. Sometimes it’s mediocre. It just depends how much they put into it.”

“The beauty I think behind this program is the networking,” he said. “If all you’re lacking is a little bump of tools, that little toolset you need, or the skills, maybe you need to just develop them; that’s what we provide you. So, long as you’re willing to swing that hammer, the sky’s the limit.”

A hands-on cannabis college focused on industry education, training, career placement, medical cannabis and more has expanded to central Florida.

Learn Sativa University’s (SATU) hands-on program has been in operation for roughly four years. The university started in a 1,000-square-foot building, but has recently expanded to a 5-acre cannabis farm and training facility in Apopka, Fla., said Patrick O’Brien, SATU founder and CEO.

The primary purpose of the college is pretty “straightforward,” O’Brien said. 

“We aim towards two paths, and we’re looking for two types of individuals: either ones looking to land rewarding careers in the industry, or individuals looking to start businesses. Whether it be in cultivation, dispensary, or anything along those lines, we can assist with business plans, curriculum and everything from top to bottom,” he said.

He said that the campus features an indoor climate-controlled grow and a 50,000-square-feet outdoor greenhouse where students can learn through hands-on training. The college also offers online training for those who cannot attend in person.

SATU’s hands-on and online courses include Marijuana Cookbook, Marijuana Laws, Marijuana Careers, Marijuana History, Marijuana Growing and Dispensary Management.

Each course is a one-time 8-hour class, and students receive a certificate tailored to the subject upon completion, he said.

© Courtesy of Learn Sativa University

© Courtesy of Learn Sativa University

The university also provides in-person students with lunch, books, study materials, lab equipment and much more.

“We provide everything from top to bottom to ensure that they’re prepared,” O’Brien said. “Typically, what ends up happening is a lot of people will come out here. They’ll take a vacation with their family. They’ll go ahead and complete the course, and then they can fly home. And then some of them tend to want to stay for the advanced courses, or others will come back a month or two later for those.”

“A lot of people want to test the waters at first because it’s still very crazy to hear the idea that there’s an actual cannabis college where you can come and acquire this knowledge,” he added.

SATU has had over 50,000 students enroll in either an online or hands-on course to date, and O’Brien said he’s had students from places like Brazil, Puerto Rico, Colombia and India.

While the courses prepare students for entry-level positions in the industry, O’Brien said several local companies and larger corporations have reached out to the SATU seeking qualified individuals to fulfill open positions.

“We have billion-dollar companies right now coming to us, like Curaleaf,” he said. “[These] companies are coming to us asking us for staff that are qualified, trained and have expertise in what we’re preparing them for, and it’s very exciting because now we have students in all these different management positions that only request Learn Sativa students within those facilities. That’s not all companies, but the ones especially local to us.”

“And beyond that, we’re starting to see a lot of the companies out in the [recreational] states currently requesting this,” he added. “The states themselves are requesting that you have a school backing to get the license, and they’re using our school to do that. It’s an amazing thing.”

© Courtesy of Learn Sativa University

Additionally, SATU features a dispensary that sells in-house products made by students.

“Some of the students that really take to creating incredible products, we will partner up, work with them and do a share so that they actually get a cut of products they sell through that program,” he said. “So, it’s a way for us to allow students to test out some of their products, and those change once in a while, but it just depends on who comes through the door.”

For example, an SATU student from Colombia who has a background in chemistry created a CBG oil, O’Brien shared, and the college worked alongside him to help launch that product.

“Essentially, what we’re providing to our students is a set of instructions,” he said. “They follow them; they end up with an end result. Sometimes it’s incredible. Sometimes it’s mediocre. It just depends how much they put into it.”

“The beauty I think behind this program is the networking,” he said. “If all you’re lacking is a little bump of tools, that little toolset you need, or the skills, maybe you need to just develop them; that’s what we provide you. So, long as you’re willing to swing that hammer, the sky’s the limit.”

Sleep health is a large and growing global market. According to Statista, the global market value of the sleep market was $432B in 2019 with an expected CAGR of 6.3% from 2019 to 2024. Supplements are a growing category of popular sleep health products with common ingredients including melatonin, valerian root, and more recently cannabinoids such as CBD and CBN.

RealSleep is a cannabinoid formulation company developing personalized products to improve sleep outcomes. RealSleep’s product strategy has been developed by top scientists and sleep experts, and clinically tested to aid individuals seeking to fall asleep faster, sleep deeper and cut down on sleep disturbances. Their studies have shown that 90% of people taking RealSleep have reported experiencing better sleep immediately

We spoke with Michael Kamins, co-founder and partner of OpenNest Labs and RealSleep, about RealSleep’s innovation in personalized formulations for better sleep. Kamins founded RealSleep as an incubated company under OpenNest Labs, where he is also a founding partner. Michael is the Chief Community Officer of the Wholistic Research and Education Foundation, and just led the world’s largest study on CBD and general health with Wholistic and Radicle Science, where he is also an advisor. Prior to RealSleep, Michael worked in tech where he was an early employee at Musical.ly (now TikTok) building brand partnerships.

Aaron Green: How did you get involved in the cannabis industry?

Michael Kamins: I got into the industry professionally about two and a half years ago, but my relationship with the plant goes back to high school. Prior to jumping into this space, I was working primarily in digital media. I was an early employee at Musical.ly, (eventually rebranded as TikTok), leading global music partnerships and growth. I helped grow that business by leveraging the social capital of music artists and celebrities and doing partnerships with record labels. At the end of 2018, I really saw the opportunity in the cannabis space. One of my best friends in Los Angeles, Dr. Jeff Chen, someone I did my MBA with at UCLA, became the founder and executive director of cannabis research at UCLA Medical. Seeing all the clinical research that he was doing and the objective health outcome data coming out of that research was really a huge inspiration to me. I saw a massive whitespace and opportunity to help build that bridge between the medical community and the cannabis marketplace. There’s been almost a century of cannabis prohibition setting back our scientific understanding of the plant. We know more about the rivers and plants in the Amazon than we do about the composition and compounds within the cannabis plant with regards to their wellness benefits.

I met my partners, Tyler Wakstein, Kris Bjornerud and Max Goldstein and we started a cannabis venture studio called OpenNest Labs, which is building out a diversified portfolio of cannabis consumer brands. We are focused on leveraging our collective experience at building ventures and communities and rallying those communities around a brand.

Over the last two and a half years, it’s been super exciting building brands that you see on shelves. We’re still in the early stages right now of building brand loyalty. A lot of cannabis consumers are still going into dispensaries and asking, “what is the cheapest product that I can buy with the highest potency?”

Green: Tell me about RealSleep, how did you come up with the idea and what is the basic concept for the end user?

Kamins: RealSleep comes from the passion that I had developed for medicinal aspects of the cannabis and hemp plant, thinking about not only THC and CBD – which are two major cannabinoids in the plant – but also thinking about the other 120 plus cannabinoids, each with their own unique properties.

It turns out that half the world’s population suffers from one poor night of sleep a week, and sleep issues lead to the highest rate of other comorbidities. We were thinking about the addressable sleep market, with ourselves being a part of that market, and wanting to build products that would help not only ourselves, but the countless other people around the world that suffer from poor sleep too, as it impacts their daily lives.

I’ve had issues with sleep myself. I have a genetic hearing condition called tinnitus. It’s a ringing in your ears that other people can experience environmentally from exposure to loud noises. I’ve had loud ringing in my ears my entire life even in quiet situations, like right before I go to sleep. I’ll often be lying in bed awake for an hour or two unable to sleep with the ringing. Everyone else on the team has had their own sleep issues and realized the profound negative impact of lack of sleep on other areas of health and wellness, whether it be next day energy or immunity.

We felt that by leveraging our access to the medical research community and even running clinical research on our own to validate the efficacy of the product relative to other products on the shelves, we could create a product that was safe and effective. We came across a clinical trial on insomnia and CBD by one of our research partners, the Wholistic Research and Education Foundation. What we saw from a lot of that anecdotal data was that CBD, and hemp in general, really helps to provide restful and restorative sleep.

CBD and CBN are two highly effective compounds for sleep and melatonin is by far the most widely researched and used over the counter sleep aid. We are sourcing clinical research on other ingredients such as valerian root, L-Theanine and GABA, and the list of ingredients goes on. We were interested in formulating a product that incorporates these safe and effective ingredients.

We noticed from our research and our access that sleep is as unique to an individual as their fingerprint. Take brainwave patterns when you are sleeping as an example. No one person’s patterns are the same. You could essentially identify an individual based on those patterns. One solution, or one product, is not going to help everyone. So, we worked with UCLA and the head of their laboratory of sleep and circadian medicine, a gentleman by the name of Dr. Chris Caldwell, to understand the science of sleep. He is one of the most renowned sleep researchers in the world and is the head of our scientific advisory board for RealSleep. We’ve done clinical studies with over 900 people and 10,200 nights of sleep and used this data to develop a personalization engine in the form of a quiz that takes 90 seconds and allows us to map ingredients to specific answer selections. From these answers we deliver products that are customized to the individual consumer specific to their unique needs

We’re proud of the journey that we’ve gone on to understand the science and research behind sleep and to develop this personalization engine variations of products that work for each individual and their unique needs.

Green: Tell me how the questionnaire and personalization engine works. I understand the ingredient profile will change based on the customer’s responses?

Kamins: Sleep impacts an individual’s general health and wellness. For me, if I don’t sleep well, my next day is filled with anxiety, and that anxiety leads to worse sleep; it’s a vicious cycle. For other people, it could be a metabolic issue that leads to poor sleep or poor sleep that leads to weight issues. The list of other health issues and diseases linked to poor sleep goes on. So, while we’re looking at combating sleep to prevent other health issues down the road, one person who’s looking to get better sleep to improve one aspect of their life could be different from another person and the area of life they are looking to improve upon.

The quiz is essentially a combination of validated, reliable and flexible measures of patient reported outcomes. We use a combination of gold standard patient reported sleep questionnaires, one of which is called the Pittsburgh Sleep Quality Index, another being the RAND MOS scale, and others. We also work with our scientific advisory board and machine learning experts to advise us on customizing these questions with logic. We then use the responses to generate the appropriate formulations for our customers.

The questions cover everything from very specific questions on sleep, like sleep latency (the time it takes to get the bed) or sleep fragmentation (the number of times you wake up in the middle of the night) sleep duration, sleep quality, and then other areas of health that you’re looking to improve upon. Examples include metabolism, cardiovascular health, skin health, anxiety and stress. So, all these things factor into the different ingredients that we layer into the formulation.

Let’s say you don’t have a problem getting to sleep, but you wake up a lot of times in the middle of the night. Your formulation might be very different from someone who has trouble getting to sleep, but they don’t wake up in the middle of the night. Overall, one of our big goals with the formulation of all these products is that they increase your next day cognitive alertness by giving you that high sleep quality and restorative sleep. We don’t want to make anyone groggy the next day. Because overall, what you’re trying to achieve with sleep is you want to be ready to go the next day and be able to perform at your peak.

Green: So, you mentioned CBD, CBN and melatonin already as ingredients. Are there any other ingredients?

Kamins: Depending on what your answer selections are for the quiz, we will layer in L-Theanine, valerian root, Ashwagandha and even some of the other novel cannabinoids like CBC (cannabichromene). We have about 24 different ingredients that we can layer in, so it just depends. When you look at all the permutations and combinations of formulations and dosages, it’s in the trillions. From a supply chain standpoint, we’ve simplified it in a way that makes it very easy to funnel people into one of many predefined combinations of ingredients and dosage levels.

Our algorithm is an unstructured machine learning algorithm. The more people that take the quiz and the more people that provide feedback on their sleep score makes our programming and our personalization engine smarter.

Green: How does your manufacturing and packaging work?

Kamins: We have a strong relationship with a pharmaceutical partner that we have been growing even before RealSleep. It is a pharmaceutical manufacturing facility underneath a regional health care provider in the state of California. Everything they do is incredible. It’s a state-of-the-art facility and focused on complete transparency and building the products with the highest efficacy and safety profiles. They’re based in LA, and they’ve been such a pleasure to build our supply chain with.

Green: What kind of trends are you looking at in the formulation space?

Kamins: From a cannabinoid side, there’s been a bit more of a look towards some of the novel cannabinoids that have traditionally catered to a niche consumer base that is educated on cannabis. From being inside the industry, it’s very easy for me to talk about all the different cannabinoids, but a lot of people still don’t even know the difference between THC and CBD.

Our goal overall is to build efficacious products and educate people on all the different formulations and the different ingredients going in. Outside of cannabis, this year we’ve seen a large boom in consumer demand for Ashwagandha. There’s just so much hype around it in terms of how it impacts stress and energy and even libido, which is interesting. It’s probably the hottest non-cannabinoid ingredient that we’ve seen. Specific to sleep, the combination of L-Theanine and GABA and how they potentiate each other is impactful. Then there’s valerian root, which has been a big one over the last few years for sleep.

Green: Last question. What are you most interested in learning about?

Kamins: A personal interest of mine over the last few years is understanding from a scientific perspective, each of the cannabis compounds in greater detail. I think part of it is just really the curiosity to know the unknown. We’re at a point in the industry where there are still so many unknowns on the science-side of cannabinoids.

My passion for science has led me to support medical researchers in the space, so much so that I am an advisor and chief community officer to a nonprofit medical research organization called the Wholistic Research and Education Foundation, which to date has funded over six and a half million dollars in human clinical trials with cannabinoid rich therapeutics. One we’re currently conducting at UC San Diego is studying the impact of CBD on autism and other neurological conditions. That’s given me incredible exposure to research in the space. I am also a strategic advisor to a for profit medical research organization called Radicle Science, which is a very swiftly running clinical research for CBD and other cannabis brands in the space.

All in all, I’m driven by the possibilities that come with continuing to unlock the science behind the plant. By doing so, we can innovate products with efficacy and can educate people who are uninformed about the therapeutic benefits of cannabis, which will in turn benefit the industry and society. Striving for research breakthroughs and being transparent about our findings is going to help us destigmatize cannabis and legitimize the industry. 

Green: That concludes the interview. Thanks, Michael!

Kamins: Thanks, Aaron.

A hands-on cannabis college focused on industry education, training, career placement, medical cannabis and more has expanded to central Florida.

Learn Sativa University’s (SATU) hands-on program has been in operation for roughly four years. The university started in a 1,000-square-foot building, but has recently expanded to a 5-acre cannabis farm and training facility in Apopka, Fla., said Patrick O’Brien, SATU founder and CEO.

The primary purpose of the college is pretty “straightforward,” O’Brien said. 

“We aim towards two paths, and we’re looking for two types of individuals: either ones looking to land rewarding careers in the industry, or individuals looking to start businesses. Whether it be in cultivation, dispensary, or anything along those lines, we can assist with business plans, curriculum and everything from top to bottom,” he said.

He said that the campus features an indoor climate-controlled grow and a 50,000-square-feet outdoor greenhouse where students can learn through hands-on training. The college also offers online training for those who cannot attend in person.

SATU’s hands-on and online courses include Marijuana Cookbook, Marijuana Laws, Marijuana Careers, Marijuana History, Marijuana Growing and Dispensary Management.

Each course is a one-time 8-hour class, and students receive a certificate tailored to the subject upon completion, he said.

© Courtesy of Learn Sativa University

© Courtesy of Learn Sativa University

The university also provides in-person students with lunch, books, study materials, lab equipment and much more.

“We provide everything from top to bottom to ensure that they’re prepared,” O’Brien said. “Typically, what ends up happening is a lot of people will come out here. They’ll take a vacation with their family. They’ll go ahead and complete the course, and then they can fly home. And then some of them tend to want to stay for the advanced courses, or others will come back a month or two later for those.”

“A lot of people want to test the waters at first because it’s still very crazy to hear the idea that there’s an actual cannabis college where you can come and acquire this knowledge,” he added.

SATU has had over 50,000 students enroll in either an online or hands-on course to date, and O’Brien said he’s had students from places like Brazil, Puerto Rico, Colombia and India.

While the courses prepare students for entry-level positions in the industry, O’Brien said several local companies and larger corporations have reached out to the SATU seeking qualified individuals to fulfill open positions.

“We have billion-dollar companies right now coming to us, like Curaleaf,” he said. “[These] companies are coming to us asking us for staff that are qualified, trained and have expertise in what we’re preparing them for, and it’s very exciting because now we have students in all these different management positions that only request Learn Sativa students within those facilities. That’s not all companies, but the ones especially local to us.”

“And beyond that, we’re starting to see a lot of the companies out in the [recreational] states currently requesting this,” he added. “The states themselves are requesting that you have a school backing to get the license, and they’re using our school to do that. It’s an amazing thing.”

© Courtesy of Learn Sativa University

Additionally, SATU features a dispensary that sells in-house products made by students.

“Some of the students that really take to creating incredible products, we will partner up, work with them and do a share so that they actually get a cut of products they sell through that program,” he said. “So, it’s a way for us to allow students to test out some of their products, and those change once in a while, but it just depends on who comes through the door.”

For example, an SATU student from Colombia who has a background in chemistry created a CBG oil, O’Brien shared, and the college worked alongside him to help launch that product.

“Essentially, what we’re providing to our students is a set of instructions,” he said. “They follow them; they end up with an end result. Sometimes it’s incredible. Sometimes it’s mediocre. It just depends how much they put into it.”

“The beauty I think behind this program is the networking,” he said. “If all you’re lacking is a little bump of tools, that little toolset you need, or the skills, maybe you need to just develop them; that’s what we provide you. So, long as you’re willing to swing that hammer, the sky’s the limit.”

OTTAWA and TORONTO, Sept. 01, 2021 (GLOBE NEWSWIRE) — PRESS RELEASE — HEXO Corp. and 48North Cannabis Corp. have announced that they have completed the previously announced arrangement, pursuant to which HEXO has acquired all of the issued and outstanding common shares of 48North by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

Under the terms of the arrangement, each former shareholder of 48North is now entitled to receive 0.02366 of a common share in the capital of HEXO for each 48North Share held immediately prior to the completion of the arrangement. It is anticipated that the 48North Shares will be de-listed from the TSX Venture Exchange as of the close of trading on or about Sept. 2, 2021.

In order to receive the consideration, registered holders of 48North Shares will be required to deposit their share certificate(s) representing 48North Shares, together with a duly completed letter of transmittal, with TSX Trust Company, the depositary under the arrangement. Shareholders whose 48North Shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee regarding the receipt of the consideration.

Further information about the arrangement is set forth in the materials prepared by 48North in respect of the special meeting of 48North shareholders held on Aug. 17, 2021, which were mailed to 48North shareholders and filed under 48North’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Warrants

Warrants to purchase 48North Shares, other than those exercised prior to 12:01 a.m. (Toronto time) on Sept. 1, 2021, will continue to remain outstanding as warrants of 48North, which, upon exercise, will entitle the holder thereof to receive, in lieu of the number of 48North Shares to which such holder was theretofore entitled upon exercise of such 48North warrants, the consideration in the form of HEXO Shares that such holder would have been entitled to be issued and receive if, immediately prior to the effective time, such holder had been the registered holder of the number of 48North Shares to which such holder was theretofore entitled upon exercise of such 48North warrants. All other terms governing the warrants, including, but not limited to, the expiry term, exercise price and the conditions to and the manner of exercise, will be the same as the terms that were in effect immediately prior to the effective time, and shall be governed by the terms of the applicable warrant indenture or the applicable warrant certificate.

As required by the warrant indentures in respect of the applicable warrants, HEXO has entered into supplemental warrant indentures in respect of such warrant indentures governing applicable warrants. A copy of each such supplemental warrant indenture will be available on 48North’s and HEXO’s respective SEDAR profiles at www.sedar.com.

Listed 48North Warrants 

Prior to the completion of the arrangement, 48North had outstanding one class of warrants to purchase 48North Shares listed on the TSX-V under the trading symbol ‘NRTH.WT.’ It is anticipated that the listed 48North warrants will be listed and commence trading on the Toronto Stock Exchange (TSX) under the symbol ‘HEXO.WT.A’ as of the opening of trading on Sept. 3, 2021. The listed 48North warrants will then remain listed on the TSX until the earliest to occur of their exercise, expiry or de-listing. HEXO has entered into a supplemental warrant indenture in respect of the Listed 48North warrants, a copy of which will be available on 48North’s and HEXO’s respective SEDAR profiles at www.sedar.com.

Options

Holders of 48North options have received replacement options under the arrangement, exercisable for HEXO Shares at the same conversion ratio applicable to the 48North Shares. All other terms and conditions of the replacement options, including the term of expiry, vesting, conditions to and manner of exercising, are the same as the 48North options for which they were exchanged, and any certificate or option agreement previously evidencing 48North options now evidences (and shall be deemed to evidence) such replacement options.

Other Matters 

48North has been granted exemptive relief from certain continuous disclosure and insider reporting requirements by the applicable securities regulators. Holders of Listed 48North warrants will be directed to reference, and rely on, the public disclosure filings of HEXO in lieu of those of 48North.

In connection with the completion of the arrangement, each of the officers and directors of the boards of directors of 48North and its subsidiaries resigned.

HEXO’s and 48North’s operations are subject to a variety of laws, regulations and guidelines relating to the marketing, acquisition, manufacture, management, transportation, storage, sale and disposal of cannabis but also including laws and regulations relating to health and safety, the conduct of operations and the protection of the environment. To the knowledge of HEXO’s management, HEXO and 48North have been and, following the completion of the arrangement, continue to be in compliance with all such laws. More specifically, to the knowledge of HEXO’s management, HEXO is in compliance with applicable laws in the jurisdictions in which it operates. Changes to such laws, regulations and guidelines due to matters beyond the control of HEXO and 48North may cause adverse effects to HEXO’s and 48North’ combined operations.

Advisors and Counsel

Cormark Securities Inc. acted as financial advisor to 48North. Norton Rose Fulbright Canada LLP acted as legal counsel to HEXO, and Bennett Jones LLP acted as legal counsel to 48North.