- The Company now has six provincial supply agreements and is listed in provinces from coast-to-coast.
- Supreme is now one of only six cannabis companies with five or more provincial supply agreements.
- Supreme Cannabis' 7ACRES product to be listed as a premium offering.
TORONTO, Aug. 28, 2018 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company" (TSXV: FIRE) (OTC: SPRWF) (FRA: 53S1), announced that the Company's wholly owned subsidiary, 7ACRES, has entered into supply agreements with the Nova Scotia Liquor Corporation ("NSLC") and the PEI Cannabis Management Corporation ("PEICMC") to supply recreational cannabis to their respective retail stores beginning October 17, 2018.
Nova Scotia and PEI become Supreme Cannabis' fifth and sixth provincial recreational partners alongside Ontario, British Columbia, Alberta and Manitoba. Supreme Cannabis joins a select group of leading cannabis companies that have secured supply agreements with five or more provinces to-date, including: Canopy Growth (TSX:WEED)(NYSE:CGC), Aphria (TSX:APH), Aurora (TSX:ACB), Tilray (NASDAQ:TLRY), and Organigram (TSXV:OGI).
"We are excited to finalize these agreements with the provinces of Nova Scotia and Prince Edward Island," said John Fowler, CEO of Supreme Cannabis. "We expect to be one of Canada's few producers who will be in stores coast-to-coast when the Canadian recreational market kicks off on October 17th, and the only major producer to be listing exclusively as a premium offering. We're eager for cannabis enthusiasts in both Nova Scotia and PEI to discover 7ACRES' offerings and experience what we believe to be the highest-quality cannabis being grown at scale in Canada."
The Company will provide updates on further provincial partners as they become available. With an annual production capacity expected to reach 50,000 kg once the 7ACRES facility is fully operational, the Company is committed to supplying premium-quality cannabis flower to the Canadian recreational market from coast-to-coast.
About Supreme Cannabis
The Supreme Cannabis Company (TSXV: FIRE, OTC: SPRWF, FRA: 53S1) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Company's portfolio includes its wholly-owned subsidiary and flagship brand 7ACRES.
7ACRES is a federally licensed producer of medical cannabis operating inside a 342,000-square-foot facility in Kincardine, Ontario. 7ACRES is dedicated to providing consumers with a premium-quality product that recognizes its customers are informed, discerning and value a brand and culture that aligns with their principles. 7ACRES brand success has been reflected in provincial supply agreements, where 7ACRES' product is consistently listed in the highest brand category available to recreational consumers.
The Company's growing portfolio also includes an equity investment and long-term global distribution partnership with Lesotho-based Medigrow for the exporting of medical-grade cannabis oil.
The Supreme Cannabis Company has consistently set the standard for innovation in the sector, including the design of growing facilities and development of operational excellence metrics. We are confident that together with our flagship brand, proprietary technology and products, truly unique culture, and industry-leading team, we will deliver our shareholders consistent long-term value creation.
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to anticipated events or results and include, but are not limited to, expectations regarding our regulatory environment and potential changes in law, the growth in our capacity and sales, our future position of high quality product, the competitive landscape in the Canadian recreational cannabis market and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may" "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking statements are current as of the date they are made and are based on applicable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's Annual Information Form dated January 22, 2018 ("AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE The Supreme Cannabis Company, Inc.
For further information: Investor Relations, Scott Davidson, Bayfield Strategy, Inc., Phone: 416-466-6265, Email: [email protected], Website: supreme.ca