Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) this
morning announced its projected revenue for the fiscal fourth quarter ended
June 30, 2019 and provided guidance for fiscal 2020. Per the update, the
company anticipates net revenue of about $19 million and positive adjusted
EBITDA for the fourth quarter 2019. Supreme Cannabis also expects sustained
revenue growth during 2020 as its wholly owned subsidiary 7ACRES scales
production, new and higher-margin products are introduced, and additional
brands start producing material revenue. The company plans to release audited
fourth quarter and annual results on September 17, 2019. “Our company has taken
deliberate steps to grow in a focused, responsible and compliant manner,
building a strong core business and an authentic brand and then expanding into
new lines of business and international markets,” Supreme Cannabis CEO Navdeep
Dhaliwal stated in the news release. “In a sector dominated by headlines, our
measured approach to capital deployment and brand-building sets us apart. We
believe our preliminary results demonstrate the strength of our business during
an inflection point within the industry, path towards profitability and
continued disciplined growth. Looking forward, we remain focused on building
our portfolio of premium consumer experience driven brands.”
To view the full press release, visit http://ibn.fm/N6Mw4
About Supreme Cannabis Company Inc.
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 multiaward-winning
brand; Blissco Cannabis Corp., a wellness cannabis brand and a multi-licensed
processor and distributor based in British Columbia; Cambium Plant Sciences, a
plant-genetics and cultivation IP company; Medigrow Lesotho, a 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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