- 7ACRES cultivation facility’s increase in space set to grow production capacity by 50 percent, reaching approximately 26,250 kg
- BMO Capital Market analysts initiated coverage of The Supreme Cannabis Company at Market Perform
- The company is set to launch its line of premium cannabis oil products in April 2019
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), a leading company in the cannabis industry that’s committed to providing premium brands and products, is seeking to grow the world’s best cannabis and become a leader in the global industry. As legalization spreads around the world, the cannabis industry continues to evolve from a market once limited to illicit recreational activity into one marked by innovative products utilized for myriad purposes, including medicinal, pharmaceutical, and health and wellness applications. Investors are realizing the lucrative potential of cannabis products, and companies such as The Supreme Cannabis Company are poised to become industry leaders.
Recently BMO Capital Markets analysts Tamy Chen, CFA, and Peter Sklar, CPA, initiated coverage of The Supreme Cannabis Company at Market Perform. This included a C$2.50 per share price target, which represented a 15 percent premium to the then-current market price. Given more brand development, the analysts anticipate a potential C$3.00 share price (http://cnw.fm/T0OcC), especially with “accelerating sales, ramping production, and strategic international acquisitions.”
The Supreme Cannabis Company anticipates reaching multiple milestones this year. As of March 2019, the company has amassed growing room space of 180,000 square feet at its 7ACRES cultivation facility. This growth will enable production capacity to increase by 50 percent, reaching approximately 26,250 kg (http://cnw.fm/6SwId). Additionally, supply agreements are in place throughout eight Canadian provinces. As such, the company’s target goals continue to increase to match its evolving production capacity, which could potentially reach approximately 50,000 kg in the near future.
Supreme Cannabis president and founder John Fowler noted the significance of the company’s increased facility square footage. He described (http://cnw.fm/nXkH8) the expansion as “a major milestone, which represents a 50 percent increase in our estimated annual production capacity. With 18 of 25 flowering rooms at 7ACRES now approved by Health Canada, production space at our facility is near the finish line.” Noting the availability of the company’s 7ACRES brand in eight of 10 Canadian provinces, Fowler stated that he looks forward to serving “what [company leaders] believe to be the highest quality cannabis grown at scale in the country.”
In another step to increase its industry presence, The Supreme Cannabis Company recently announced an anticipated launch of its previously detailed cannabis oil products. These products are set to be released to the adult-use consumer market in select Canadian provinces beginning in April 2019. Each bottle of oil will contain the company’s proprietary blend of highly purified cannabis oils and terpenes harvested from plants grown by 7ACRES.
Supreme Cannabis CEO Navdeep Dhaliwal believes that the company’s focus on premium cannabis will deliver a superior cannabis oil experience. He added, “Our formulation will leverage super-critical CO2 technology to produce a high-quality, purified cannabis oil,” which is then re-formulated with the naturally occurring terpenes found in 7ACRES’ high-end cannabis. The resulting oil promises consumers a premium experience (http://cnw.fm/5rnjT).
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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