Supreme Pharmaceuticals Inc. (TSXV:FIRE) is pleased to announce the purchase of an approximately six acre property adjacent to the 7ACRES facility in Kincardine, Ontario. Supreme expects to build an indoor cultivation facility ("Lot 16") to produce high quality, "California-Style" cannabis for the premium product segment.
Supreme is currently in the design phase of the project and intends to break ground in the summer of 2018. The Company intends to complete the project by the end of 2019. Supreme anticipates that Lot 16, once fully operational and subject to licensing by Health Canada, will produce 10,000 kg per year of premium "California-Style" indoor cannabis. Supreme intends on using lighting, HVAC and irrigation infrastructure ideally suited to cultivating premium cannabis cultivars. Lot 16 is expected to employ Supreme's proprietary post-harvest processes to produce dried cannabis flower that is slow-dried, artisanal cured and finished by hand. Supreme intends to market the Lot 16 dried cannabis flower as an ultra-premium consumer product and pursue favorable pricing economics with current and future retail partners. Supreme acquired the Lot 16 land for $1,927,200.
"Supreme's goal is to be synonymous with quality and a leader in the premium segment for cannabis flower," said John Fowler, CEO of Supreme. "Since inception, we have been resolute in our belief that cannabis consumers are quality driven and willing to pay a premium for cannabis flowers with exceptional qualities. We believe the premium product segment for dried flower will be significantly under-supplied in Canada given the industry focus on low-cost cannabis and traditional greenhouse infrastructure. Lot 16 represents the next step in the development of our Kincardine Campus, and additional progress towards Supreme being a dominant player in the premium segment for dried cannabis flower in Canada."
John Fowler, CEO and Director
About Supreme
Supreme is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside a 342,000 sq. ft. Hybrid Greenhouse facility. The Hybrid Greenhouse combines the best technology of indoor production with the efficiencies and sustainability of a greenhouse, in a single large-format production footprint. Please visit www.supreme.ca and www.7acres.com for more information.
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Supreme Purchases Adjacent Land for Ultra-Premium Cannabis Facility
