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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Finds Funding and Support in Concert

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) is another Canadian cannabis patch play to catch the “sell the news” bug following last week’s grand announcement of legal adult-use activity in Canada. We all knew it was coming. And the space still got hyped into it. So, it should come as no surprise to see this reaction. That said, Supreme is likely one to watch in the aftermath of this “monetization” process.

To build that out further, the company just announced that, further to its news release dated September 27, 2018, the Company has completed its bought deal offering for gross proceeds of $100 million, including the exercise in full of the underwriters’ over-allotment option, comprised of 6.0% senior unsecured convertible debentures of Supreme Cannabis at the issue price of $1,000 per Debenture, with a syndicate of underwriters, co-led by GMP Securities L.P. and BMO Capital Markets, and including Cormark Securities Inc., Eight Capital, Beacon Securities Limited and P.I. Financial Corp.

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) promulgates itself as a company that engages in the production of medical cannabis in Canada.

The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!

The company was formerly known as Supreme Pharmaceuticals Inc. and changed its name to The Supreme Cannabis Company, Inc. in December 2017. The Supreme Cannabis Company, Inc. was incorporated in 1979 and is headquartered in Toronto, Canada.

The Company’s portfolio includes its wholly-owned subsidiary and flagship 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 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 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.

 

Aftermath

As noted above, SPRWF just announced that, further to its news release dated September 27, 2018, the Company has completed its bought deal offering for gross proceeds of $100 million, including the exercise in full of the underwriters’ over-allotment option, comprised of 6.0% senior unsecured convertible debentures of Supreme Cannabis at the issue price of $1,000 per Debenture, with a syndicate of underwriters, co-led by GMP Securities L.P. and BMO Capital Markets, and including Cormark Securities Inc., Eight Capital, Beacon Securities Limited and P.I. Financial Corp.

SPRWF has had a rough past five days of trading action, with shares sinking something like -26% in that time. It will be interesting to see if this news can help to shift that tone. So far, it has obviously helped to some extent, but not enough to repair recent damage.

According to the release, “The Company intends to use the net proceeds of the Offering for the construction and development of its existing and planned facilities in Canada. This includes the Company’s facility in Kincardine, Ontario under construction and the development and construction of a facility on land purchased by the Company that is situated adjacent to such facility. The balance of the net proceeds will be used for general working capital purposes. In addition, the Company views the completion of the Offering as an important milestone in qualifying for graduation to the Toronto Stock Exchange alongside other leading mature licensed producers in the Canadian cannabis industry.”

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) generated sales of $3.5M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 71.3% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($55.9M against $22.9M).

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!

   

Learn More About PLSI at your brokerage today!

         

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade


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Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play