The Supreme Cannabis Company (“Supreme” or the “Company”) (TSXV:FIRE), today announced that it has obtained Health Canada approval to commence cultivation on approximately 30,000 square feet of additional flowering rooms at its 7ACRES facility. The new capacity is expected to double 7ACRES’ estimated annual production from 5,000kg to 10,000kg.
“Since receiving its license just over 24 months ago, 7ACRES has demonstrated that it is one of the fastest scaling producers in the industry, having added more than 60,000 square feet of flowering capacity over this brief period,” said John Fowler, CEO of Supreme. “With this capacity expansion, 7ACRES is positioned as a top producer and the leading recreational brand for adult consumers seeking a high-quality product.”
Total completion of growing rooms at the 342,000-square foot 7ACRES facility is on schedule for completion in December 2018.
To date, the Company has announced supply agreements with the provinces of Manitoba and Alberta, and have submitted applications with other provinces. 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.
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.