- The Supreme Cannabis Company focuses on high-quality cannabis products via its 7ACRES subsidiary
- The company also has a strategic equity investment in Medigrow Lesotho
- Supreme has signed a letter of intent with Malta Enterprises
- BMO recently initiated coverage of Supreme
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) concentrates on growing the world’s best cannabis and becoming a leader in the global industry. The company’s flagship brand is 7ACRES, which is its licensed producer subsidiary that operates a 440,000-square-foot facility in Kincardine, Ontario. The 7ACRES subsidiary received ‘Brand of the Year’ recognition at the 2018 Canadian Cannabis Awards presented by Lift & Co. (TSX.V: LIFT) (http://cnw.fm/WAE1e). Headquartered in Toronto, Ontario, Supreme Cannabis focuses on serving its customers with premium product quality and advancing its mass cultivation capability.
Supreme Cannabis announced in 2018 its investment in Medigrow Lesotho Ltd. and also its establishment of an international cannabis oil distribution partnership. Supreme entered into a definitive agreement to complete a $10 million strategic equity investment in Medigrow Lesotho, a federally licensed producer of cannabis in the Kingdom of Lesotho in Africa. The Lesotho Ministry of Health licensed Medigrow Lesotho to cultivate and manufacture medical cannabis and cannabis oil products (http://cnw.fm/Aki5T). Medigrow Lesotho is part of Medigrow Africa, a network of African cannabis growers.
Lesotho is an independent constitutional monarchy and the home of more than two million people, and it is known as an innovator in the implementation of processes for the growing of medical cannabis. Working with Medigrow Lesotho, The Supreme Cannabis Company is committed to lifting many out of poverty via the creation of new jobs and other programs (http://cnw.fm/Oe077). The whole process of cannabis production and processing there takes place at a state-of-the-art production facility.
Supreme is now developing a legal and logistical link to allow the use of the island nation of Malta in the Mediterranean as a legal gateway for imports to the European Union (EU). This link is important for the eventual importing of the forthcoming EU GMP-certified cannabis oil from Lesotho. Supreme recently announced its entry into a letter of intent (LOI) with Malta Enterprises, the economic development agency of Malta. This LOI is the initial step in Supreme’s application for a cannabis production license in Malta.
This license would permit Supreme Cannabis to produce and process cannabis for medical use within Malta and to export cannabis for medical use to specified global markets. Malta is a strategic European hub. Moreover, it is home to healthy, existing pharmaceutical-and- nutraceutical manufacturing industries with wide-ranging expertise. If the license is approved, Supreme’s plan is to produce products containing EU GMP-quality cannabis oil, as well as to go after regulated medical cannabis distribution opportunities in the EU.
In a news release (http://cnw.fm/3Wo11), Navdeep Dhaliwal, The Supreme Cannabis Company’s chief executive officer, said, “Using the intellectual property and expertise we’ve gained in Canada, we intend to deliver high-quality cannabis products to medical patients in multiple international markets.”
The Supreme Cannabis Company is diligently moving ahead with its worldwide medical cannabis strategy and its focus on establishing real, revenue-generating business operations in profitable EU markets. The company continues to innovate in the cannabis sector through its design of growing facilities and the development of operational excellence metrics. Supreme offers investors a global opportunity with its Malta and Lesotho initiatives.
In addition, BMO Capital analyst Tamy Chen has recently initiated coverage on Supreme, indicating the company’s growing recognition.
For more information, visit the company’s website at www.Supreme.ca
NOTE TO INVESTORS: The latest news and updates relating to SPRWF are available in the company’s newsroom at http://cnw.fm/SPRWF
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