- One-year,
$12 million supply agreement signed with Tilray Inc. to support medical
cannabis patients
- State-of-the-art
hybrid greenhouse technology and cultivation operations enable 7ACRES to
grow premier cannabis sustainably and at scale
- Ramping
up to produce an estimated 50,000 kg at full capacity in 2019
- 7ACRES
named ‘Brand of the Year’ at the 2018 Canadian Cannabis Awards
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF)
(FRA: 53S1) continues to build on its reputation as a global organization that
produces and distributes consumer-centric, proprietary cannabis plant products.
The company’s mission, aptly stated in an investor presentation (http://ibn.fm/gjNk3), is to
“make a positive impact on people and the planet by continuing to grow better
cannabis businesses globally.”
The Supreme Cannabis Company, through 7ACRES, its wholly
owned subsidiary and award-winning Canadian Licensed Producer, provides a
high-quality, premier product and brand that reflect the desires of a
discriminating cannabis consumer. Company financials show that the
440,000-square-foot facility operated by 7ACRES in Ontario is on track to reach
full production capacity in 2019.
7ACRES has received Health Canada approval to begin
cultivating approximately 30,000 square feet of additional flowering rooms at
its Kincardine, Ontario, facility, which raises the total flowering room space
to 120,000 square feet (from 90,000 square feet) and increases the annual
production capacity estimate to 17,500 kg (from approximately 13,300 kg), as
detailed in a news release (http://ibn.fm/LmlII).
The facility’s potential capacity is expected to reach
approximately 50,000 kg per year in 2019 due to increased production
efficiencies and the completion and licensing of all 25 flowering rooms. 7ACRES
also received licensing approval for production space designated for plant
micropropagation, which Supreme Cannabis will begin at the facility to bring
additional agricultural sciences to its high-quality cannabis production.
“Scaling our 7ACRES facility is a top priority and today’s
announcement is another significant step forward towards completing that goal,”
Supreme Cannabis president and founder John Fowler said in the January 28 news
release. “7ACRES-branded dried flower has received enthusiastic reviews from
consumers across Canada. With this additional production capacity, we’ll be
able to better satisfy the demand from cannabis enthusiasts coast-to-coast.”
Shipments of the 7ACRES-branded high-end cannabis products
have already been made to six of Canada’s provinces through distribution
agreements made with provincial government channels. The company announced in
early February that it has entered into supply agreements with two additional
provinces (http://ibn.fm/jY1QC).
In December, 7ACRES was recognized as ‘Brand of the Year’ at
the 2018 Canadian Cannabis Awards presented by Lift & Co.
(TSX.V: LIFT). The Canadian Cannabis Awards celebrate Canadian cannabis,
distinguishing the people, companies and products that make it great. The award
recognizes the enormous effort behind creating a brand, strategy, culture,
image and impact that resonate in the public consciousness (http://ibn.fm/cThSQ).
A recent article in MarketRealist.com reviewed several
analysts’ recommendations for the company’s stock, noting that Supreme Cannabis
has provided an impressive return of 47 percent year-to-date. Among the
summarized comments, the article points out that Cormark Securities raised
Supreme Cannabis’ target rating to a ‘Buy’, bringing it in line with several
other analysts’ recommendations (http://ibn.fm/aNQRz).
The company’s growth strategy includes a C$12 million supply
agreement with Tilray Inc. (NASDAQ: TLRY), a global leader in cannabis
research, cultivation, processing and distribution, to supply dried cannabis
for one year in support of medical cannabis patients in Canada. Supreme
Cannabis has also partnered with several Canadian cannabis retailers including
Aurora Cannabis, Emerald Health Botanicals, Namaste and Zenabis, among others.
In addition, through a distribution partnership with Medigrow Lesotho (PTY)
Limited, the company intends to export CBD and cannabis oil to international
markets in the European Union and South America.
For more information, visit the company’s website at www.Supreme.ca
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