- 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://cnw.fm/9LMce). Shortly thereafter, SPRWF released a strategic update presentation from its CEO in conjunction with the company’s annual shareholder meeting (http://cnw.fm/J7Jj9).
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://cnw.fm/gFDY2). 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://cnw.fm/JaL3o). 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://cnw.fm/FIRE
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