TORONTO, March 7, 2019 /PRNewswire/ – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), today announced the strengthening of its board of directors (the “Board”) with the appointment of a new independent director, Kenneth R. McKinnon, Q.C. As an experienced corporate executive and director, Mr. McKinnon brings substantial financial oversight and business advisory experience to the Company’s Board.
Mr. McKinnon is currently a Partner at Citrus Capital Partners Ltd. and serves on the board of Touchstone Exploration Inc., and Alvopetro Energy Ltd. His previous director experience includes Petrominerales Ltd. and Lightstream Resources Ltd. where he served as Chairman from 2011 -2016. Mr. McKinnon also served on the Board of Governors of the University of Calgary and as a Director of Alberta Innovates, holding positions on the Executive Committee and as Chairman of the Compensation and Governance Committees in each organization.
“Mr. McKinnon brings a wealth of governance expertise and experience to our already robust board of directors,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “As a management team, we benefit greatly from our Board’s stewardship and oversight. This addition will be of great value as we continue to execute on our strategic imperatives for 2019 and position Supreme Cannabis for long-term growth in the international cannabis market.”
I’m pleased to be joining the board of Supreme Cannabis at this important inflection point in the Company’s history within an exciting and dynamic market environment,
As the Company embarks on a period of tremendous growth and differentiation, I look forward to working with the management team to implement the best practises in corporate governance.
Following Supreme Cannabis’s recent graduation to the Toronto Stock Exchange, the Board reviewed its existing corporate governance and, in line with best practice, decided to increase the number of independent directors sitting on the Board. As such, the Company has also accepted the resignation of Mr. Scott Walters, who served as a director of the Company since 2016 before becoming a member of Supreme’s management team in 2018. The Board thanks Mr. Walters for his service and contribution and notes that he will continue to play a valuable role on Supreme Cannabis’ senior management team as its Vice President of Corporate Development.
About Supreme Cannabis
The Supreme Cannabis Company (TSX: 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 multi-award-winning brand, 7ACRES.
7ACRES is a federally licensed producer of cannabis operating inside a 440,000-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 its “Brand of the Year” award at the 2018 Canadian Cannabis Awards, “Best Licensed Producer Branding” award at the 2018 AdCann Advertising Awards and 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 been a leading innovator 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.