- Supreme Cannabis to supply the province of Ontario with recreational cannabis
- Supreme Cannabis will supply its 7ACRES brand of high-end cannabis flower
TORONTO, Aug. 21, 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 a supply agreement with the Ontario Cannabis Store (“OCS”) to supply cannabis for online sales when the recreational market launches on October 17, 2018. Under the agreement, 7ACRES will also supply recreational cannabis to Ontario’sprivate retailers when the retail framework is approved and implemented by the Province.
The supply agreement is for a 24-month period with renewal options. As the province releases more information on category listings, the Company will provide further updates. In all provincial supply agreements secured to date (British Columbia, Alberta, and Manitoba), 7ACRES products have been listed at the highest brand category.
With Ontario expected to be the largest recreational cannabis market in the nation, this supply agreement is a major milestone for our Company. We anticipate the full 7ACRES lineup will be placed in the premium category by the OCS validating the quality of our product offerings and our strategy of catering to discerning cannabis enthusiasts who, by the Ontario government’s own estimation, will drive the majority of recreational sales.
John Fowler, CEO of Supreme Cannabis
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.