- Supreme Cannabis Company pursuing new opportunities to build innovative cannabis businesses worldwide
- Its unique 7ACRES licensed producer subsidiary sets the company apart
- Supreme Cannabis is experiencing significant revenue growth
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) actively concentrates on its mission to grow sustainable cannabis businesses. Since 2014, the Toronto, Canada-based company has been at the center of the cannabis space, including forming 7ACRES as the first licensed producer focused on growing high-quality cannabis in high quantities. Supreme Cannabis’ wholly owned operating subsidiary and flagship brand, 7ACRES is committed to delivering on the company’s “craft quality, commercial scale” mantra.
Supreme Cannabis Company’s impressive growth also stems from its strong portfolio, powerful distribution partners and impressive industry agreements, including a one-year C$12 million supply agreement with Tilray Inc. to support medical cannabis patients (http://cnw.fm/G6JLs). Another industry agreement includes an exclusive consulting services agreement with Khalifa Kush Enterprises Canada ULC (an affiliate of Khalifa Kush Enterprises LLC), with an aim to develop and bring to market a line of premium cannabis products, including pre-rolls, extracts, capsules and cannabis oils, which Supreme Cannabis will sell under the KKE brand (http://cnw.fm/uyM9E).
Regarding its portfolio, 7ACRES is positioned to become Canada’s foremost cultivator of consistently first-rate commercial cannabis. One of Canada’s first 40 federally licensed cannabis producers, 7ACRES operates a 440,000-square-foot facility in Kincardine, Ontario, and was federally licensed to begin production on March 11, 2016 (http://cnw.fm/kSL7Y).
Supreme Cannabis’ state-of-the-art greenhouse, technology and careful cultivation practices underwent development to enable 7ACRES to grow premier cannabis sustainably and at scale. In essence, 7ACRES merges the best practices in indoor cannabis cultivation with the strength of the sun. The result is indoor-quality buds with sun-grown characteristics. 7ACRES was recognized as ‘Brand of the Year’ at the 2018 Canadian Cannabis Awards presented by Lift & Company (http://cnw.fm/Nq0ek).
Pertaining to distribution, Supreme Cannabis has supply agreements in place throughout eight Canadian provinces, as well as a partnership with Medigrow Lesotho Limited targeting the export of medical cannabis oil for the international market. Moreover, Supreme Cannabis has partnerships with Canadian cannabis retailers, including Aurora Cannabis, Emerald Health Botanicals, Namaste, Zenabis and others, to further its distribution in the medical cannabis market (http://cnw.fm/wV6YD).
Supreme Cannabis Company is seeing its initiatives bear fruit in increased revenues. For Q2 2019, the company’s revenue was $7.72 million, a 359 percent increase over revenue of $1.68 million in Q2 2018. Furthermore, that figure represents a 50 percent increase from Q1 2019 revenues of $5.14 million (http://cnw.fm/hI4M1).
In a news release, Navdeep Dhaliwal, chief executive officer of Supreme Cannabis, noted, “We’re pleased with our second-quarter results, which show meaningful revenue growth quarter over quarter and continue to reflect our strong operational execution. Since Supreme received its license more than two years ago, we have been one of the fastest scaling licensed producers in Canada, demonstrated by one of the strongest first years of revenue in the sector.”
With a vision of being a worldwide cannabis leader, Supreme Cannabis Company continues to identify new opportunities to build unique cannabis businesses globally. The company estimates it can reach full production capacity in 2019, which would mean an increase from its present 17,500 kg to 50,000 kg annual production. For investors, Supreme Cannabis Company offers the potential for sustained growth in the dynamic cannabis sector.
For more information, visit the company’s website at www.Supreme.ca
CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.