Supreme Cannabis Approved for Additional Production Capacity
- Supreme Cannabis receives approval for additional 20,000 sq.ft. of flowering rooms at 7ACRES facility
- New flowering rooms expected to support an increase in annual production potential to 13,330kg
TORONTO, Sept. 5, 2018 /CNW/ – The Supreme Cannabis Company (“Supreme Cannabis” or the “Company”) (TSXV: FIRE) (OTCQX: SPRWF) (FRA: 53S1), announced that it has obtained Health Canada approval to commence cultivation on approximately 20,000 square feet of additional flowering rooms at its 7ACRES facility.
The additional flowering rooms will increase total potential flowering capacity to 90,000 square feet and, assuming a current yield, will bring 7ACRES’ annual production potential from 10,000kg to 13,330kg.
As the first coast-to-coast premium cannabis brand in Canada, 7ACRES is already one of the fastest scaling producers in the country. This flowering room expansion continues to increase our capacity and improve our ability to meet the demand of cannabis enthusiasts upon legalization of adult use cannabis in Canada.
John Fowler, CEO of Supreme Cannabis
Completion of flowering rooms at the 342,000-square foot 7ACRES facility remains on schedule for completion in December 2018. 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)(OTCQX: 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 cannabis producer operating 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 with the provinces of Ontario, British Columbia, Alberta, Manitoba, Nova Scotia and Prince Edward Island. With six provincial partners, 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), Organigram (TSXV:OGI), and CannTrust Holdings (TSX:TRST).
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.
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