- Supreme Cannabis to supply the province of British Columbia with 553 kg of cannabis for
the recreational market
- All Supreme Cannabis' 7ACRES product to be listed in the
top-tier brand category in BC
TORONTO, July 11, 2018 /CNW/ - The Supreme Cannabis
Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV:FIRE),
today announced that the Company's wholly owned subsidiary, 7ACRES,
has entered into a memorandum of understanding ("MOU") with the
British Columbia Liquor Distribution Board ("BCLDB") to supply
recreational cannabis to BC's private cannabis retailers.
Under the terms of the MOU, 7ACRES will supply the BCLDB with
553 kg of cannabis over a 12-month period. All 7ACRES product will
be listed in the top-tier brand category in BC – consistent with
other provincial supply agreements 7ACRES has signed.
"British Columbia is a
bellwether province for the recreational cannabis space – we
consider it one of the most informed and discerning consumer
markets for cannabis in the country. It is a testament to our
brand, culture and our people that we will be listed in the highest
brand category in BC," said John
Fowler, CEO of Supreme Cannabis.
British Columbia becomes
Supreme Cannabis' third provincial recreational partner alongside
Manitoba and Alberta. 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 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.
Please
visit www.supreme.ca and www.7ACRES.com for
more information.
Forward-Looking Information
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 and include,
but are not limited to, expectations regarding our regulatory
environment and potential changes in law, the growth in our
capacity and sales, our future position of high quality product and
other statements that are not historical facts. Particularly,
information regarding our expectations of future results, targets,
performance achievements, prospects or opportunities is
forward-looking information. 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 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, the
factors discussed in the "Risk Factors" section of the Company's
Annual Information Form dated January 22,
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 ("SEDAR") 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE The Supreme Cannabis Company, Inc.