Supreme Cannabis Company Inc (OTCMKTS:SPRWF) should be on the radar as a potential breakout candidate if the stock is able to push above its key resistance level in the vicinity of $1.85/share. In addition, the company just announced a realignment of its senior leadership in order to further position the Company for global growth and continued operational success.
As stated in its release, “John Fowler, currently Chief Executive Officer of the Company, will assume the role of President of the Company, and Navdeep Dhaliwal, currently the President of the Company, will assume the role of Chief Executive Officer of the Company, effective at the end of the business day on September 24, 2018. Both individuals will continue to serve as members of the Company’s board of directors.”
Supreme Cannabis Company Inc (OTCMKTS:SPRWF), carrying a capital value in the market of $454.44M, 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 producer of medical 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.
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7ACRES brand success has been reflected 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.
Moreover, the company focuses on the production and sale of medical marijuana in Canada. The company was formerly known as Supreme Resources Ltd. and changed its name to Supreme Pharmaceuticals Inc. in February 2014. Supreme Pharmaceuticals Inc. was incorporated in 1979 and is headquartered in Vancouver, Canada.
As they put it, “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 consistent long-term value creation to our shareholders.”
Movin’ On Up
As discussed earlier, the company has been building out its executive team. In addition, SPRWF also just announced that the Company’s wholly-owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada Ltd.
“We are excited to be entering into this agreement with Tilray, an organization – like Supreme Cannabis – that focuses on the end user and demands leading quality assurance standards,” said John Fowler, President of The Supreme Cannabis Company.
“Tilray has built an industry-leading global medical distribution platform, which has resulted in robust demand for high-quality cannabis products. We are happy to provide 7ACRES premium products alongside Tilray’s well-regarded and existing lineup to support medical patients around the world.”
Unless you have been living under a rock, anything associated with TLRY has been big news. Given the elevation in board and C-suite talent, and this new agreement, we wouldn’t be surprised to see some interesting things ahead for SPRWF.
This is an exciting story, and we look forward to a follow-up chapter as events transpire.
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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