Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) on
Tuesday announced the release of its financial and operating results for the
fourth quarter and fiscal year ended June 30, 2019. Among the results, the
company reported achievement of its first positive Adjusted EBITDA quarter of
$3.2 million, a 90% increase in net revenue to $19 million in Q4 2019, up from
$10 million in Q3 2019, as well as a 370% increase in fiscal total revenue to
$41.8 million in 2019, up from $8.9 million in 2018. “We end fiscal 2019 as one
of the few Canadian cannabis businesses building sustainable operations and
valuable brands, reporting $3.2 million in Adjusted EBITDA for the fourth
quarter,” Supreme Cannabis CEO Navdeep Dhaliwal said in the news release. “Our
positive Adjusted EBITDA and significant revenue growth in the fourth quarter
reflects the rapid scale of our 7ACRES business and continued strong sales
pricing for our brands from the provinces as we transition our premium supply
to recreational sales channels.”
To view the full press release, visit http://ibn.fm/S0tWN
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;
Blissco Cannabis Corp., a wellness cannabis brand and a multi-licensed
processor and distributor based in British Columbia; Truverra Inc., a global
medicinal cannabis brand and licensed cultivator; Cambium Plant Sciences, a
plant genetics and cultivation IP company; Medigrow Lesotho, an cannabis oil
producer located in southern Africa; Supreme Heights, an 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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