- Supreme
Cannabis recently debuted its platform to pursue opportunities in the UK
and European CBD health and wellness markets
- The
launch comes as Supreme Cannabis continues to advance toward an
acquisition of Truverra Inc. and its subsidiary, which sells CBD products
in select European markets
- The
strategic move provides investors with exposure to the fast-growing
European CBD space
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF)
(FRA: 53S1) is intensifying its focus on Europe with the launch of
London-based investment platform Supreme Heights. In addition, the company’s
previously announced acquisition of privately held, Toronto-based Truverra Inc.
is expected to close by August 30.
Supreme Heights will better enable Supreme Cannabis to make
strategic moves in the CBD health and wellness space in the United Kingdom and
Europe. Supreme Cannabis is structured to provide support services for premium
brands, as well as CBD offerings (http://ibn.fm/ky5LV).
“Supreme Cannabis is positioned to quickly act on attractive
opportunities and establish an early mover advantage in the space,” Supreme
Cannabis CEO Navdeep Dhaliwal stated in a news release. “Supreme Heights will
benefit from our experience launching some of the most premium cannabis brands
in Canada and from the strong leadership and the deep industry connections of
our UK partners.”
Supreme Heights CEO Patrick Morton said that, with the
guidance of Supreme Cannabis, his company would seek to make targeted
investments in value-add categories and diverse segments including vaporizers,
edibles, beverages, topicals and ancillary services.
In addition to gaining advanced infrastructure and
manufacturing capabilities, the acquisition of Truverra offers Supreme Cannabis
opportunities to address the international medical market. The companies
announced that Truverra would serve as Supreme Cannabis’s global medical brand,
building on an existing R&D platform as well as established CBD offerings
within Europe.
A Truverra subsidiary, which Supreme Cannabis will also
acquire, Netherlands-based Truverra Europe sells hemp-based CBD products in
select markets in Europe (http://ibn.fm/ty6Ph).
The transaction for 14.7 million common shares of Supreme Cannabis has a value
of approximately C$20 million (http://ibn.fm/xwiqW). Truverra Europe will give Supreme
Cannabis another distribution point in Europe. These acquisitions support the
company’s larger goal of creating new cannabis opportunities across the globe.
Supreme Cannabis is a Toronto-based company focusing on
pursuing opportunities and generating sustainable growth in what it sees as an
emerging global market. The company’s portfolio includes 7ACRES, an
award-winning brand; Blissco, a wellness cannabis brand and licensed producer;
Cambium Plant Sciences, a cultivation IP and plant genetics company; Medigrow
Lesotho, a Southern Africa cannabis oil producer; Supreme Heights, an
investment platform focused on CBD; 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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