- Supreme Heights, based in London, UK to pursue investment opportunities in the UK and Europe
- Targeting investments in differentiated UK & European CBD health and wellness brands
TORONTO, June 24, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), today announced the launch of Supreme Heights, an investment platform based in London, UK focused on opportunities in the UK and Europe's CBD health and wellness space. Supreme Heights intends to make strategic investments in and provide support services to differentiated high-growth health and wellness businesses with focused brands and premium CBD offerings.
Supreme Cannabis has launched Supreme Heights as a separate entity that will solely address opportunities in the UK and Europe's CBD health and wellness market. Supreme Heights will benefit from Supreme Cannabis' regulatory, product commercialization, supply chain, marketing and capital markets expertise and corporate support services. Supreme Cannabis' management team has immense experience supporting health and wellness companies operating in Canada and international markets. Supreme Heights will draw on the Company's experience launching premium brands.
"The rapidly evolving CBD markets in the UK and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share. Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "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. We look forward to driving value for Supreme Cannabis shareholders through this investment platform."
Patrick Morton will serve as CEO of Supreme Heights. Based in London, UK, Patrick brings over a decade of capital markets' experience and deep industry relationships to Supreme Heights. Mr. Morton is a co-founder of Cannabis Invest UK, the UK's Leading Cannabis Investor Conference. Mr. Morton has spent the past three years building a network of local and global cannabis and CBD companies, developing relationships with the UK and Europe's institutional and high net worth investors and fuelling discussion and action around global cannabis investment opportunities.
"Over the last three years, Supreme Cannabis has built and scaled its cannabis business in Canada, a country setting international standards for cannabis frameworks and regulations. With Supreme Cannabis, we have gained a valuable strategic partner with a top tier management team and highly developed corporate services," said Patrick Morton, CEO of Supreme Heights. "With guidance from Supreme Cannabis, we intend to make targeted investments in wellness brands that provide exposure to value-add categories in the UK and Europe's CBD market, including vaporizers, edibles and beverages, topicals and ancillary services. We are committed to positively contributing to this emerging industry and intend to support companies that share our standards for quality, sustainability and innovation."
Supreme Heights' Board and Management Team
Supreme Heights will benefit from the proven leadership and deep industry experience of its established board and management team.
Patrick Morton, CEO
Patrick Morton is the co-founder of Cannabis Invest UK, which hosts the largest professional cannabis investment conference in the UK and Europe, having featured $50 billion of presenting companies at events in London and Geneva. Prior to joining the cannabis industry in 2017, Patrick spent 13 years in the capital markets industry, primarily as an equity research analyst on top-ranked teams with RBC Capital Markets and the Macquarie Group. Patrick is a CFA Charter holder and holds a BComm in Finance from McGill University.
Navdeep Dhaliwal, Chairman
Navdeep Dhaliwal is the Chief Executive Officer and a Director of Supreme Cannabis. Mr. Dhaliwal is also a Director of Medigrow Lesotho, a Licensed Producer in the Kingdom of Lesotho. Prior to joining Supreme Cannabis, Mr. Dhaliwal was the Principal of NLX Capital Corp., a Canadian merchant bank and venture investment firm, and Vice President of corporate development for Novalux Energy Corporation, a renewable energy developer. Mr. Dhaliwal began his career with KPMG LLP, where he specialized in financial institutions and real estate.
Nick Davis, Director
Nick Davis is the Chief Executive Officer of Memery Crystal, one of the UK's leading law firms in specialist areas, regularly cited in Chambers UK and The Legal 500, and a market leader in the UK cannabis sector. Nick specializes in corporate finance with expertise in flotations, equity capital markets and mergers & acquisitions. Nick advises on public company listings on both the Main Market and AIM and has extensive experience acting for other issuers, NOMAD/brokers and sponsors. Nick also recently led the Memery Crystal team on the NEX listing of a medicinal cannabis investment vehicle, which was the second ever public listing of a cannabis vehicle on the NEX.
Scott Walters, Director
Scott Walters is the Vice President of Corporate Development at Supreme Cannabis. Since 2013, Mr. Walters has been focused on developing and commercializing positive-impact businesses in the Canadian medical cannabis sector. Mr. Walters is the founder and former CEO of Molecular Science Corporation. Previously, he was a co-founder of THC BioMed, one of Canada's first medical cannabis licensed producers, Canabo Medical—one of Canada's first medical clinics focused on providing medical advice to cannabis patients—and Empower Clinics, one of the fastest growing medical cannabis clinic networks in the U.S. Pacific Northwest.
Riyaz Lalani, Director
Riyaz is Chief Corporate Officer of Supreme Cannabis. Over the last two decades, Mr. Lalani has advised public companies, boards of directors, private equity funds and hedge funds across North America. Prior to founding Bayfield Strategy Inc., a leading communications and stakeholder relations firm, Mr. Lalani was the Chief Operating Officer of a leading shareholder services firm in Canada. Beforehand, he was the head of research for an international asset manager in New York and Toronto.
The completion of the investment by Supreme Cannabis in Supreme Heights is subject to, among other things, the negotiation and execution of a mutually agreeable investment agreement and related documents and the satisfaction or waiver of any conditions precedent to the consummation of such investment.
About Supreme Cannabis
The Supreme Cannabis Company, Inc., is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's fastest-growing, premium plant driven-lifestyle companies by effectively deploying capital, with an emphasis on disciplined growth and high-quality products.
Supreme Cannabis' portfolio includes 7ACRES, its wholly-owned subsidiary and multi-award-winning brand; Cambium Plant Sciences, a plant genetics and cultivation IP company; Medigrow Lesotho, a cannabis oil producer located in southern Africa; and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.
Supreme Cannabis trades as FIRE on the Toronto Stock Exchange (TSX: FIRE), SPRWF on the OTC Exchange in the United States (OTCQX: SPRWF) and 53S1 on the Frankfurt Stock Exchange (FRA: 53S1). Follow us on Instagram, Twitter, Facebook and YouTube.
We simply grow better.
About Supreme Heights
Supreme Heights targets investments in high quality, differentiated brands with defendable business models and strong management teams in the UK and European branded CBD health & wellness segment. Partners of Supreme Heights benefit from the industry experience, knowledge and unique intellectual property of Supreme Cannabis. Supreme Heights works collaboratively with Supreme Cannabis to diligently assess investment opportunities, identify synergies and advance the businesses in its portfolio. Follow Supreme Heights on Instagram, Twitter and Facebook.
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. 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 in this news release include, but are not limited to, statements regarding Supreme Cannabis' investment in Supreme Heights (including the entering into of definitive agreements and closing conditions), the proposed board and management of Supreme Heights, the proposed investment focus of Supreme Heights, the benefits of Supreme Cannabis's product, marketing and capital markets expertise and support services to Supreme Heights and the future opportunities in the CBD market in the UK and Europe generally. 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, regulatory risks and changes in law in the UK and Europe, market and general economic risks, the risks associated with international and foreign operations and the factors discussed in the "Risk Factors" section of the Company's Annual Information Form dated October 2, 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 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.
SOURCE The Supreme Cannabis Company, Inc.
For further information: Scott Davidson, Investor Relations, Email: firstname.lastname@example.org, Phone: 416-466-6265, supreme.ca