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Supreme Pharmaceuticals Inc (CVE:FIRE) Achieves Significant Revenue Milestone

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Supreme Pharmaceuticals Inc (CVE:FIRE) reported that 7ACRES’ first month of sales surpassed $1.5 million, and that such sales will be posted in the quarter closed September 30, 2017. The initial sales exhibit a notable milestone for company and demonstrate their ability to grow premium cannabis, offer commercial quantities of a top-quality offering to their retail associates and navigate the regulatory procedure. John Fowler, the CEO of Supreme, expressed that the initial sales provide additional validation of their ability to execute on their unique, focused and scalable business model.

The details

Mr. Fowler said that 7ACRES is establishing a new top product division in the Canadian ACMPR market. Their unique Hybrid Facility combines the know-how of indoor grow with the quality of full spectrum sunlight to manufacture cannabis targeted at the premium division of the market. The passionate team is dedicated to maintaining their quality standards as they advance their cultivation. For Supreme Pharmaceuticals, SunGrown is a premium product segment manufactured by combining the technology of indoor grow and the sun to manufacture beautiful terpene-rich cannabis.

As the major business-to-business focused Licensed Producer in Canada, the company is working toward fixing a standard for B2B cannabis deals. Due to the stringent regulatory oversight of legal cannabis industries, large commercial B2B deals need intensive due diligence. Supreme needs potential and active customers to partake in a B2B due diligence procedure including pesticide testing, physical inspection, chemical analysis and a thorough assessment of the 7ACRES Hybrid Facility.

Supreme Pharmaceuticals has a market cap of nearly $263 million and is attempting to become a major supplier of affordable medicinal cannabis by applying commercial agriculture measures to medical cannabis manufacturing. The company has projected cannabis production of 10,000 kilograms for this year, with a projected value of $35 million. At the close of 2016, the firm raised $55 million via a convertible debenture that compensates shareholders 10% annually until maturity in January 2019.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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