Wednesday, November 21, 2018

Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTC: SPRWF) (FRA: 53S1) Achieves Record Revenues for Q1 2019

  • Supreme Cannabis’ mission is to grow the world’s best cannabis and become a leader in the industry
  • The company has its “7ACRES” modern grow facility
  • Supreme Cannabis recently reported its Q1 financial results
Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTC: SPRWF) (FRA: 53S1) engages in the production of medical cannabis in Canada. Its corporate mission is to grow the world’s best cannabis and become a leader in the global industry. The company formed 7ACRES as the first licensed producer centered on growing high-quality cannabis in high quantities. Supreme Cannabis Company is headquartered in Toronto, Ontario.
Ever since 7ACRES was federally licensed to produce on March 11, 2016, Supreme Cannabis has been pursuing its mission of becoming the foremost international cultivator of cannabis. The company is proficient at cultivating high-quality cannabis at scale. Since 2014, Supreme has been at the center of the cannabis space in pursuit of the significant opportunity in cannabis, rooted in Canada, with global opportunities on the horizon as well.
Regarding its 7ACRES initiative, Supreme’s state-of-the-art greenhouse, technology and careful cultivation practices underwent development to enable 7ACRES to grow high-quality cannabis sustainably and at scale. 7ACRES’ hybrid greenhouse is located in Kincardine, Ontario (http://nnw.fm/Zv2kb). This is a 340,000-square foot facility. Here, indoor-quality buds are produced with sun-grown characteristics.
7ACRES’ facility is the largest of its type to grow with advanced HVAC and CO2 enrichment utilizing full-spectrum sunlight. This is instead of the limited-spectrum lamps used by numerous hybrid growers. 7ACRES has a current capacity of 13,333 kilograms of dried cannabis annually. Plans are to boost production by mid-2019 to a rate of 50,000 kilograms annually (http://nnw.fm/8JzvU).
Supreme Cannabis employs a supplier/distributer/retailer model. This model allows the company to concentrate on its pursuit of the best cultivation practices and plants without the requirement to invest in packaging, retail, physician education or clinics. This model ensures that Supreme can focus on cultivating craft quality cannabis at commercial scale.
Recently, Supreme Cannabis announced record revenues for Q1 2019 (the three months ended September 30, 2018). Revenue for Q1 was $5.14 million. This represents a 229 percent increase from Q1 2018 ($1.56 million) and a 45 percent increase from the prior quarter ($3.55 million). Moreover, after Q1 2019, Supreme made first shipments of 7ACRES-branded high-end cannabis to six of Canada’s provincially regulated adult-use channels (http://nnw.fm/cBO3C).
Navdeep Dhaliwal, Supreme Cannabis Chief Executive Officer, said in a news release, “Supreme Cannabis’ results in the first quarter mark a solid beginning to a historic year in a competitive, dynamic and rapidly evolving marketplace. Q1 2019 results are continued validation for the successful execution of our strategy for our 7ACRES business to establish a competitive advantage in quality driven regulated cultivation at scale.”
As legalization grows beyond Canada, Supreme Cannabis plans to continue to identify new prospects to build unique cannabis businesses worldwide. Its 7ACRES is on course to become Canada’s leading cultivator of consistently first-rate commercial cannabis. The company will use this as a springboard to increase its portfolio of companies and offer growth opportunities to shareholders looking to embrace all that the cannabis sector offers.
For more information, visit the company’s website at www.Supreme.ca
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