Supreme Cannabis Company Inc OTCMKTS: SPRWF 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 multiple award wins, including the “Brand of the Year” award at the 2018 Canadian Cannabis 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. Together with our flagship brand, proprietary technology and products, unique culture, and industry-leading team, we seek to deliver our shareholders consistent long-term value creation.
On March 22nd, 2019, the company announced that the Company expects its previously announced oil products line to be introduced to adult-use consumers in select Canadian markets starting April 2019.
Supreme Cannabis plans to initially ship oil products to select markets before expanding distribution of its cannabis oil line to additional provinces which is expected by the end of June 2019. Each bottle will contain a proprietary blend of highly-purified cannabis oils and terpenes derived from plants grown by 7ACRES.
“Premium oils require premium cannabis,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “Our formulation will leverage super-critical CO2 technology to produce a high quality, purified cannabis oil which we re-formulate with the naturally occurring cannabis terpenes from our 7ACRES’ High-End CannabisTM. The result is a unique, plant-based cannabis oil that carries the award-winning qualities of our flower into an oil product for consumers looking for a premium cannabis oil experience.”
Supreme Cannabis has 180,000 sq. ft. of production capacity following Health Canada’s approval, which translates to an estimated 26,250 kilograms per year—a 50 percent increase from its prior production estimates. The company hopes to further expand its production capacity to 50,000 kilograms per year, which would make it one of the largest licensed producers in the country during a critical supply shortage.
“With 18 of 25 flowering rooms at 7ACRES now approved by Health Canada, production space at our facility is near the finish line,” said Supreme Cannabis President and Founder John Fowler in the press release announcing the expansion. “With our multi-award winning 7ACRES brand now available in 8 out of 10 provinces, we look forward to completing construction of the facility so that cannabis enthusiasts coast to coast will be able to enjoy what we believe to be the highest quality cannabis grown at scale in the country.”
The company’s 7ACRES brand has received multiple cannabis industry awards, including “Brand of the Year” at the 2018 Canadian Cannabis Awards. In addition, the company’s provincial supply agreements consistently list the brand in the highest brand category available to recreational consumers. The company believes that premium categorizations are leading to higher profit margins than many of their competitors that target the low end of the market.
Launching Oil Products
Supreme Cannabis also announced that it expects to launch cannabis oil products into the recreational market beginning next month. Cannabis oil sales have been significantly outpacing cannabis flower sales as the market matures. According to Health Canada, licensed producers sold 4,455 kilograms of cannabis oil to consumers in September 2018 (the last reported data) compared to just 1,755 kilograms of cannabis flower.
“Premium oils require premium cannabis,” says Supreme Cannabis CEO Navdeep Dhaliwal. “Our formulation will leverage supercritical CO2 technology to produce a high quality, purified cannabis oil which we reformulate with the naturally occurring cannabis terpenes from our 7ACRES High-End Cannabis™. The result is a unique, plant-based cannabis oil that carries the award-winning qualities of our flower into an oil product for consumers looking for a premium cannabis oil experience.”
The company plans to initially ship oil products to select markets before expanding distribution of its cannabis oil line to additional provinces by June 2019. Each bottle will contain a proprietary blend of highly purified cannabis oils and terpenes derived from plants grown by 7ACRES, which differs from the bulk oils produced by many other cannabis oil manufacturers in Canada and around the world.