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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Anticipates Approval From Health Canada For Additional Flowering Rooms



Supreme Cannabis Company Inc (OTCMKTS:SPRWF) has announced the completion of 19 flowering rooms at 7ACRES. The company will complete the 25 flowering rooms at this facility by the end of March 31, 2019. Following the completion of the flowering rooms, the greenhouse capacity will be 300,000 sq. Ft. The total capacity at 7ACRES will be more than 440,000 sq. Ft. The annual output from 7ACRES would reach 50,000 Kg by mid-2019.

High-quality cannabis at 7ACRES facility

Supreme will produce high-quality cannabis on a massive scale for commercial use at the unique 7ACRES facility in Canada. The flowering rooms at this facility will get high-quality indoor lighting with the help of sophisticated HPS lighting technology. Superior lighting will help to improve the production of cannabis and terpene. The modular design of the facility allows varying environmental conditions in the flowering rooms to facilitate cannabis production and mitigates crop loss.

Construction update

Supreme has completed the construction of 19 flowering rooms in December 2018. The company expects to complete three flowering rooms in January 2019, one additional room in February 2019, and two additional rooms in March 2019. Therefore, 7ACRES will complete 25 flowering rooms by the end of March 2019. The company will complete the administrative area and primary office in March 2019.

Health Canada approval is vital for the expansion activities of Supreme. The company will ensure a simultaneous review of the completed rooms by Health Canada.

Founder and President of Supreme, John Fowler, is pleased with the progress of construction activities at the 7ACRES facility in Ontario. The cannabis cultivation at this facility is on par with international standards to produce high-quality cannabis on a massive volume. The company expects to deliver high-quality cannabis to produce cannabis-derived products like edibles and vape pens as the market expands.

7ACRES facility in Kincardine, Ontario has obtained federal approval for cannabis production inside the 342,000 sq. Ft. The facility is designed to provide premium quality cannabis products for the consumers. The 7ACRES brand is featured in the Brand of the Year award in 2018.

Supreme reported revenue of $5.14 million in Q1 2019 representing a growth of 229.5% when compared to Q1 2018. However, its net loss increased to $5.39 million in Q1 2019. The company inked several supply facts worth more than $14 million with Tilray. It also signed accords for the supply of adult cannabis in six provinces in Canada.

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