TSXV: FIRE
TORONTO, Nov. 7, 2017 /CNW/ - Supreme Pharmaceuticals Inc.
("Supreme" or the "Company") (TSXV: FIRE) is pleased
to announce 7ACRES has commenced production in the newly
constructed flowering rooms recently approved by Health
Canada. Yesterday, over 3,000 plants of a specially selected
phenotype of cannabis called "Wappa" were hand-transplanted into
the first of three 10,000 sq. ft. flowering rooms. Wappa was
selected for the inaugural planting due to its favourable
early-stage market feedback, growth characteristics and terpene
content. The transplanting was completed in a single-day process,
required to ensure the uniformity of the end product. The
remaining 20,000 sq. ft. will be fully planted over the balance of
November 2017, increasing 7ACRES'
anticipated annual output capacity to over 5,000 kg per year.
"Today marks an important growth milestone for 7ACRES as
Canada's leading
cultivation-focused Licensed Producer," said John Fowler, CEO of Supreme. "Adding an
additional 30,000 sq. ft. of flowering rooms quadruples our
production capacity and moves us closer to achieving our goal of
growing premium quality cannabis flowers at scale. The
additional output increases our ability to establish national
strategic partnerships with Licensed Producers that are seeking to
provide Canadian patients with premium cannabis. As well, the
expansion also represents the next step in scaling 7ACRES in
preparation for the Canadian adult use market."
Supreme anticipates the first harvests from the additional
flowering rooms will be completed in the first quarter of calandar
2018.
Licensed Producers and/or ACMPR applicants interested in
procuring premium quality dried cannabis flowers or trim may
contact wholesale@7ACRES.com.
About Supreme
Supreme is a Canadian publicly traded company established as the
leading premium cultivator and distributor of sun grown cannabis
through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally
licensed producer of medical cannabis pursuant to the ACMPR
operating inside a 342,000 sq. ft. hybrid-facility. This facility
combines the best technology of indoor production with the
efficiencies and sustainability of a greenhouse, in a single
large-format production footprint. Please visit supreme.ca and
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, expectations
regarding our production capacity, technology and operations and
other statements that are not historical facts. Particularly,
information regarding our expectations of future results, targets,
performance achievements, prospects or opportunities is
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"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 "Risks and Uncertainties" section of the
Company's Management's Discussion & Analysis dated May 30, 2017 ("MD&A"). A copy of the MD&A
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 MD&A 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.
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accuracy of this release.
SOURCE Supreme Pharmaceuticals Inc.