- Supreme
Cannabis to retrofit 107,000 square foot facility; creating centralized
manufacturing, processing, packaging center for internal and third-party
use
- Supreme
Cannabis releases comprehensive operational update, including plans for
producing cannabis 2.0 products from the company’s operating assets
- SPRWF
CEO provides update on company’s plan for focused infrastructure and
brands, giving a detailed overview of SPRWF business
The
Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), a
global diversified portfolio of cannabis companies, recently published a
comprehensive press release that provided operational updates on its facilities
and plans for manufacturing its cannabis 2.0 products (http://ibn.fm/DR0q6). Shortly
thereafter, SPRWF released a strategic update presentation from its CEO in
conjunction with the company’s annual shareholder meeting (http://ibn.fm/Y02q9).
In this informative video update, Supreme Cannabis CEO
Navdeep Dhaliwal walks investors through an informative overview on Supreme
Cannabis and the industry it operates in. The presentation offers a great
opportunity for investors to learn more about the Company’s performance in
fiscal 2019 and go forward strategy for fiscal 2020 and beyond. Through this
20-minute presentation, viewers can expect to gain insights on the Company’s
approach to building centers of excellence, method to developing its branded
products and process for attracting top talent.
Highlighted in this video are the strides the company is
making towards building out its impressive suite of operating assets that serve
specific functions from seed to sale. These developments were announced just
prior to the company’s AGM. The press release announced the leasing of a
107,000-square-foot facility in Kitchener, Ontario, which will be retrofitted
to operate as the company’s dedicated and centralized manufacturing, processing
and packaging center (http://ibn.fm/nhHDk).
The Kitchener site will be developed in three stages, with the first phase
complete and awaiting licensing.
After receiving a cannabis processing license from Health
Canada, packaging and value-added processing can occur. By Q4 FY2020, Supreme
Cannabis plans to begin whole-flower packaging and pre-roll manufacturing for
Supreme Cannabis brands at the location. To generate additional revenue,
Supreme Cannabis intends for the Kitchener facility to package, distribute and
brand third-party cannabis inputs from quality cultivators as well as move into
more cannabis 2.0 categories.
With Kitchener dedicated to value-add manufacturing,
processing and packaging, the company has focused the operations of its other
facilities as well. In the same operational update, Supreme Cannabis announced
that, after receiving a license amendment that allows for the sale of cannabis
2.0 products, its Blissco facility would fill and package the company’s 7ACRES
branded PAX Era vaporizer pods. The company’s Scarborough, Ontario, facility
also received a processing license in November and will begin manufacturing
concentrates, a product category that will showcase 7ACRES’ best in class
flower inputs. The Blissco facility has received a license amendment that
allows for the sale of cannabis 2.0 products and will now fill and package the
company’s 7ACRES brand PAX Era vaporizer pods after.
As a result of continued focus on both brand elevation and
production , Supreme Cannabis Company reported a 62% gross margin for the
latest quarter (http://ibn.fm/MhS2d).
The continued production of high-quality value-add products is what allows for
the company to generate such impressive gross margins.
The Supreme Cannabis portfolio includes 7ACRES, an
award-winning brand; Cambium Plant Sciences, a cultivation IP and plant
genetics company; Medigrow Lesotho, a Southern Africa cannabis oil producer;
Supreme Heights, the investment platform focused on CBD; Blissco Cannabis Corp,
a wellness cannabis brand and a multiprocessor and distributor based in British
Columbia; Truverra Inc., a global medicinal brand and licensed cultivator; 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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