- Supreme Cannabis to supply 7ACRES' premium brand recreational
cannabis to Alberta's private
cannabis retailers and through AGLC's online consumer portal
TORONTO, July 5, 2018 /CNW/ - The Supreme Cannabis
Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV:FIRE),
today announced that the Company's wholly-owned subsidiary, 7ACRES,
has entered into a supply agreement with the Alberta Gaming, Liquor
& Cannabis Commission ("AGLC") to supply recreational cannabis
to Alberta's private cannabis
retailers and the AGLC's online cannabis store,
www.albertacannabis.org.
Under the terms of the agreement, 7ACRES will supply the AGLC
with recreational cannabis upon legalization. The AGLC has
communicated that they plan to evaluate product demand of the
recreational market in order to inform their supply needs for the
remainder of the year.
"We are very excited to serve as a trusted partner to the AGLC
and Albertans. Alberta
offers a unique opportunity for quality-driven brands as it is one
of the most sophisticated private retail markets in the country and
its approach to retailing cannabis recognizes that ensuring quality
and offering a selection of products are critical steps towards
impacting the illicit market," said John
Fowler, CEO of Supreme Cannabis. "Supreme Cannabis
anticipates broad provincial acceptance that 7ACRES' lineup is a
premium brand, and as such will be ranked as a top-tier product in
their stores."
Alberta becomes Supreme
Cannabis' second provincial recreational partner. The Company will
provide updates on further provincial partners as they become
available.
About Supreme Cannabis
Supreme Cannabis is a Canadian publicly traded company committed
to becoming a leading cultivator and distributor of sun grown
cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a
federally licensed producer of cannabis pursuant to the ACMPR
operating inside a 342,000 sq. ft. Hybrid Facility. The Hybrid
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
www.supreme.ca and www.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, the listing of 7ACRES's
products in top-tier brand categories, entry into agreements with
future provincial partners and other statements that are not
historical facts. Particularly, information regarding our
expectations of future results, targets, performance achievements,
prospects or opportunities is forward-looking information. Often,
but not always, forward-looking statements can be identified by the
use of forward-looking terminology such as "may" "will", "expect",
"believe", "estimate", "plan", "could", "should", "would",
"outlook", "forecast", "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 "Risk Factors" section of the Company's
Annual Information Form dated January 22,
2018 ("AIF"). A copy of the AIF 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 AIF 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE The Supreme Cannabis Company, Inc.