- The Supreme Cannabis Company Inc. is Canada’s only coast-to-coast premium cannabis producer
- Supreme’s wholly owned subsidiary produces sustainably scaled, high-quality cannabis yields
- The company has entered into a definitive agreement to acquire Truverra Inc.
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) works with an eye to providing the world’s best cannabis products and emerging as a top competitor in the cannabis marketplace. As Canada’s only coast-to-coast premium cannabis producer, Supreme is engaged in widespread distribution and has an expert team of passionate professionals and employees. Furthermore, Supreme Cannabis secured a place among the highest revenue-recording, publicly traded cannabis companies in Canada with reported revenues of C$8.85 million for its fiscal year ended June 30, 2018.
“As a result of the successful execution of our strategy, we have generated significant revenue growth both for the quarter and the year-end period,” Supreme Cannabis CEO Navdeep Dhaliwal stated in a news release. “We look forward to building on this growth as we expand domestically and internationally.”
One of the company’s strengths lies in its wholly owned subsidiary, 7ACRES. With the end to 100 years of cannabis prohibition, the Canadian market is set to flourish and expand, and 7ACRES is ideally positioned to make the most of this opportunity. Situated in a 440,000-square-foot cultivation facility in Kincardine, Ontario, 7ACRES operates by the motto of ‘Craft quality, commercial scale’. One of the first 40 federally licensed cannabis producers in Canada, 7ACRES concentrates on producing sustainably scaled, premium-quality products. The fact that six Canadian provinces have signed an agreement with Supreme is a testament to 7ACRES’ exemplary quality cannabis.
In addition, on July 17, 2019, Supreme announced a definitive agreement with the privately held Truverra Inc. The deal involves the transaction of 14.7 million common shares of Supreme Cannabis, with an approximate value of $20,000,000 (http://cnw.fm/kZ74p). “The recent introduction of Health Canada’s amended cannabis regulations creates a distinct opportunity for Supreme Cannabis to establish a leading position in the cannabis extracts markets,” Dhaliwal added. “With the acquisition of Truverra, we secure a Toronto-based facility equipped to extract our high-quality inputs for concentrates and vaping liquids in the near-term.”
With the completion of this deal, Supreme will further strengthen its position in the global cannabis market. Truverra sells a wide range of CBD products (http://cnw.fm/y67UV) to international markets through its subsidiaries, Truverra (Europe) B. V. and Canadian Clinical Cannabinoids Inc. (“CCC”). CCC’s 5,000-square-foot licensed facility in Ontario is focused on producing cannabis derivative extracts for Legalization 2.0, or the second round of regulations in Canada, which are scheduled to commence around fall 2019.
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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