Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today
announced its entry into a definitive agreement under which it will acquire all
of the issued and outstanding shares of privately-held Truverra Inc. Per the
update, the acquisition will be effected by way of a three-cornered
amalgamation between Truverra, Supreme Cannabis and a wholly-owned subsidiary
of Supreme Cannabis. The transaction is valued at 14.7 million common shares of
Supreme Cannabis, with an approximate dollar value of $20,000,000 as of the
company’s closing price on July 16, 2019. “The recent introduction of Health
Canada’s amended cannabis regulations creates a distinct opportunity for
Supreme Cannabis to establish a leading position in the cannabis extracts
markets. With the acquisition of Truverra, we secure a Toronto-based facility
equipped to extract our high-quality inputs for concentrates and vaping liquids
in the near-term,” Supreme Cannabis CEO Navdeep Dhaliwal said in the news
release. “Truverra’s operations also provide an additional entry point into
Europe’s CBD wellness market, where Truverra Europe has successfully launched
multiple CBD products in various jurisdictions. Truverra’s Canadian and
European operations are managed by a senior leadership team with a wealth of
experience manufacturing and launching products in highly-regulated industries
such as life sciences and pharmaceuticals.”
To view the full press release, visit http://ibn.fm/fz5uC
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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