Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) and Blissco Cannabis (CSE: BLIS)
(OTCQB: HSTRF) (FRA: GQ4B:GR) on Thursday announced that the Supreme
Court of British Columbia has issued a final order approving the previously
announced plan of arrangement between the two companies. Per the terms of an
arrangement agreement dated May 16, 2019, Supreme Cannabis will acquire all
issued and outstanding common shares of Blissco. The companies plan to close
the acquisition on July 12, 2019. “With the closing of this acquisition,
Supreme Cannabis will expand its portfolio to include a consumer-focused brand
that specializes in products for the premium global wellness category,” Supreme
Cannabis CEO Navdeep Dhaliwal stated in the news release. “In addition to
gaining an established wellness brand, Supreme Cannabis will acquire Blissco’s
facility built to EU GMP standards that has been extracting oils for the
Canadian market since August 2018. Blissco’s scaled capabilities allow for
Supreme Cannabis’ high-quality inputs to be processed in-house, creating a
near-term large-scale extraction opportunity to serve multiple brands under the
Supreme Cannabis umbrella. As we integrate Blissco’s operations, we continue to
identify strong synergies between our businesses to create long term value.”
To view the full press release, visit http://ibn.fm/OG7Nr
About Supreme Cannabis
The Supreme Cannabis Company is a global diversified
portfolio of distinct cannabis companies, products and brands. Since 2014, the
company has emerged as one of the world’s fastest-growing, premium plant
driven-lifestyle companies by effectively deploying capital, with an emphasis
on disciplined growth and high-quality products. Supreme Cannabis’ portfolio
includes 7ACRES, its wholly owned subsidiary and multi-award-winning brand;
Cambium Plant Sciences, a plant-genetics and cultivation IP company; Medigrow
Lesotho, a cannabis-oil producer located in southern Africa; Supreme Heights, a
investment platform focused on CBD brands in the UK and Europe; and a brand
partnership and licensing deal with Khalifa Kush Enterprises Canada. For more
information, visit the company’s website at www.Supreme.ca.
NOTE TO INVESTORS: The latest news and updates
relating to SPRWF are available in the company’s newsroom at http://ibn.fm/SPRWF
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