- The Supreme Cannabis Company is building on its motto to “simply grow better” by increasing flowering space, rolling out a new product line and entering international trade
- The company expects to begin limited distribution of a new proprietary cannabis oil line this month, with expanded reach by June, including a yet-to-be announced brand
- Supreme Cannabis’ subsidiary, 7ACRES, is a ‘Brand of the Year’ award recipient that will provide the input trim for the high-terpene, adult-use oil product line
Premium cannabis producer The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is making final preparations for this month’s roll out of its oil products line to adult-use consumers in select Canada markets, taking yet another step forward in its push to “simply grow better” while it also develops its international operations.
The proprietary oil product line, including a new, yet-to-be-announced brand, will use the company’s super-critical CO2 technology to deliver a purified cannabis oil reformulated with naturally occurring terpenes, as found in subsidiary 7ACRES’ trademarked High-End Cannabis, for an award-caliber plant-based experience. The company is anticipating a limited introduction this month, with expansion to a handful of Canadian provinces by June (http://ibn.fm/9lgSr).
7ACRES has received numerous honors, including recognition as ‘Brand of the Year’ at the 2018 Canadian Cannabis Awards conducted each year by Lift & Co. (TSX.V: LIFT). Supreme Cannabis President and Founder John Fowler was recently recognized by High Times as one of its ‘100 Most Influential People in Cannabis’ (http://ibn.fm/6HZxc), further demonstrating the company’s gravitas.
Supreme Cannabis entered a three-year contract last year with MediPharm Labs Inc. to create the proprietary oil product line. Under the agreement, 7ACRES will supply a minimum of about 1,000 kilograms of high-quality cannabis trim each year to MediPharm as source material for chemical property extraction and the production of at least 200,000 40-millileter units of premium, high-terpene adult-use cannabis oil products (http://ibn.fm/M3K19). The oil products will then be sold under Supreme Cannabis’ brands.
7ACRES’ existing award-winning brand is currently available through agreements with eight of Canada’s 10 provinces.
The company has been boosting its output capacity ahead of the expected product growth. In March, Supreme Cannabis announced that it will increase its flower cultivation space by 60,000 square feet following approvals granted by Health Canada for new rooms at its Ontario facility. The new growth will increase the facility’s flowering space to 180,000 square feet, utilizing 18 flowering rooms for an estimated 26,250 kilograms of annual production output.
Once licenses have been finalized for the facility’s remaining seven flowering rooms later this year, output is expected to nearly double to approximately 50,000 kilograms (http://ibn.fm/n0QPf).
Supreme Cannabis is building on its coast-to-coast supplier status through additional agreements that include a long-term global distribution strategic alliance with Medigrow Lesotho (PTY) Limited for medical cannabis oil to be produced in Lesotho and exported to international markets, as well as a letter of intent with Malta Enterprises, the economic development agency of the Mediterranean island nation, to use one of Europe’s principal commercial entry points for exporting medical-use cannabis to international markets in the European Union, pending the acquisition of necessary licenses.
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