- Supreme Cannabis to sell 7ACRES premium dried cannabis to
Tilray®
- Agreement is estimated to be in excess of C$2 million
TORONTO, Sept. 10, 2018 /CNW/ - The Supreme Cannabis
Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV: FIRE)
(OTCQX: SPRWF) (FRA: 53S1), announced that the Company's wholly
owned subsidiary, 7ACRES, has entered into a supply agreement to
provide dried cannabis to Tilray Canada Ltd., a subsidiary of
Tilray Inc. (NASDAQ: TLRY), a global leader in cannabis research,
cultivation, processing and distribution currently serving tens of
thousands of patients in 11 countries spanning 5 continents.
The value of this initial supply agreement is estimated to be in
excess of C$2 million. Dried
cannabis provided to Tilray by 7ACRES will be used primarily to
support medical cannabis patients in Canada, including Tilray's robust patient
population.
"We are pleased to enter into this agreement with Tilray. As one
of Canada's first licensed
producers, Tilray has been an industry leader in patient services
and quality assurance. We believe this agreement demonstrates the
quality of the 7ACRES dried flower, and the infrastructure,
management and systems that support our brand positioning," said
John Fowler, CEO of Supreme
Cannabis.
About Supreme Cannabis
The Supreme Cannabis Company
(TSXV: FIRE) (OTCQX: SPRWF) (FRA: 53S1) 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 flagship brand 7ACRES.
7ACRES is a federally licensed cannabis producer operating a
342,000-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 provincial supply agreements with the provinces
of Ontario, British Columbia, Alberta, Manitoba, Nova
Scotia and Prince Edward
Island.
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 consistently set the standard
for innovation in the sector, including the design of growing
facilities and development of operational excellence metrics. We
are confident that together with our flagship brand, proprietary
technology and products, truly unique culture, and industry-leading
team, we will deliver our shareholders consistent long-term value
creation.
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 growth in our
capacity and sales, our future position of high quality product,
the completion of the Sale to Tilray 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.
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SOURCE The Supreme Cannabis Company, Inc.