TORONTO, Jan. 9, 2019 /CNW/ - The Supreme Cannabis
Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV: FIRE)
(OTCQX: SPRWF) (FRA: 53S1) announced today that it has received
conditional approval from the Toronto Stock Exchange (the "TSX") to
graduate from the TSX Venture Exchange ("TSXV") and list its common
shares on the TSX.
"Graduating to the TSX will broaden our investment appeal and
leave us well positioned to execute on our strategic imperatives
for 2019, which is why we're pleased to add this milestone to our
list of accomplishments for the year," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "Our
Company had a banner year that was headlined by our wholly-owned
subsidiary, 7ACRES, generating the sixth highest revenue among
Canadian licensed cannabis producers this past quarter. On a
revenue basis, the first year of cannabis sales for 7ACRES was one
of the best among any Canadian licensed cannabis producer,
validating our belief that long-lasting value flows from
foundational investments in high-end cannabis cultivation. Looking
forward, we are eager to build on these accomplishments and make
significant advancements by cementing 7ACRES as a leading premium
flower brand, establishing export channels for Medigrow, launching
jointly-developed products with Khalifa Kush Enterprises and more
in 2019."
Final approval of the listing is subject to the Company meeting
certain customary conditions required by the TSX. Supreme Cannabis
will issue a statement once the TSX confirms the date on which
trading on the TSX will commence. Upon completion of the final
listing requirements, Supreme Cannabis' common shares will be
delisted from the TSXV and will commence trading on the TSX under
the symbol "FIRE".
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 award-winning
brand, 7ACRES.
7ACRES is a federally licensed producer of cannabis operating
inside 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 its "Brand of the Year" award win at the 2018
Canadian Cannabis Awards, and in provincial supply agreements where
7ACRES' product is consistently listed in the highest brand
category available to recreational consumers.
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 been a leading innovator 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.
Stay Connected:
For more information, please visit The Supreme Cannabis
Company and 7ACRES websites.
Follow us on Twitter, Facebook, or Instagram.
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, our innovation, expectations regarding
long-term value creation, listing on the TSX and the timing thereof
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 October 2,
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.