- Supreme Cannabis recently debuted its platform to pursue opportunities in the UK and European CBD health and wellness markets
- The launch comes as Supreme Cannabis continues to advance toward an acquisition of Truverra Inc. and its subsidiary, which sells CBD products in select European markets
- The strategic move provides investors with exposure to the fast-growing European CBD space
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is intensifying its focus on Europe with the launch of London-based investment platform Supreme Heights. In addition, the company’s previously announced acquisition of privately held, Toronto-based Truverra Inc. is expected to close by August 30.
Supreme Heights will better enable Supreme Cannabis to make strategic moves in the CBD health and wellness space in the United Kingdom and Europe. Supreme Cannabis is structured to provide support services for premium brands, as well as CBD offerings (http://cnw.fm/F8bAa).
“Supreme Cannabis is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space,” Supreme Cannabis CEO Navdeep Dhaliwal stated in a news release. “Supreme Heights will benefit from our experience launching some of the most premium cannabis brands in Canada and from the strong leadership and the deep industry connections of our UK partners.”
Supreme Heights CEO Patrick Morton said that, with the guidance of Supreme Cannabis, his company would seek to make targeted investments in value-add categories and diverse segments including vaporizers, edibles, beverages, topicals and ancillary services.
In addition to gaining advanced infrastructure and manufacturing capabilities, the acquisition of Truverra offers Supreme Cannabis opportunities to address the international medical market. The companies announced that Truverra would serve as Supreme Cannabis’s global medical brand, building on an existing R&D platform as well as established CBD offerings within Europe.
A Truverra subsidiary, which Supreme Cannabis will also acquire, Netherlands-based Truverra Europe sells hemp-based CBD products in select markets in Europe (http://cnw.fm/1E0b8). The transaction for 14.7 million common shares of Supreme Cannabis has a value of approximately C$20 million (http://cnw.fm/Q9lWl). Truverra Europe will give Supreme Cannabis another distribution point in Europe. These acquisitions support the company’s larger goal of creating new cannabis opportunities across the globe.
Supreme Cannabis is a Toronto-based company focusing on pursuing opportunities and generating sustainable growth in what it sees as an emerging global market. The company’s portfolio includes 7ACRES, an award-winning brand; Blissco, a wellness cannabis brand and licensed producer; Cambium Plant Sciences, a cultivation IP and plant genetics company; Medigrow Lesotho, a Southern Africa cannabis oil producer; Supreme Heights, an investment platform focused on CBD; 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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