Supreme Pharma (TSXV: FIRE) (OTC: SPRWF) reported receipt of the long-awaited amendment to its cultivation license at 7 Acres today. The ability to sell took so long that a website was created to monitor the situation. Here is the update:
The company issued a terse press release with the title “Supreme Receives Sales Approval”:
TORONTO, ONTARIO–(Marketwired – June 28, 2017) – Supreme Pharmaceuticals Inc. (“Supreme” or the “Company”) (TSX VENTURE:FIRE) is pleased to announce that its wholly-owned operating subsidiary, 7ACRES, has been granted its permission to sell under the Access to Cannabis for Medical Purposes Regulations.
Supreme’s 7 Acres facility is a hybrid greenhouse in Kincardine, Ontario. The company has a differentiated, wholesale-only business model. The gap between licensing for cultivation on March 11, 2016 and the amendment for sale today was the longest yet for any ACMPR LP. The company grows from seed rather than from clone, which added several weeks, and it was hit with another delay earlier this year when a nutrient the company uses was caught in a regulatory inquiry.
Shareholders have waited a long time, but now it’s official!