TORONTO, Dec. 5, 2019 /PRNewswire/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) provides an operational update on the Company's focused infrastructure that serves dedicated functions from seed to sale.
Supreme Cannabis Kitchener.
Supreme Cannabis introduces its dedicated manufacturing, processing and packaging facility located in Kitchener, Ontario ("Supreme Cannabis Kitchener" or the "Kitchener Facility"). In response to internal requirements and foreseeable market demand, the Company leased the Kitchener Facility, which is a 107,000 square foot facility with desirable structural features for large-scale processing, packaging and shipping. The Kitchener Facility will function as a central manufacturing, processing and packaging centre for Supreme Cannabis brands and, once the Kitchener Facility is complete, Supreme Cannabis intends to package, distribute and brand third-party cannabis inputs from quality-focused cultivators. The Kitchener Facility's strategic location in Canada's innovation hub, Kitchener, Ontario, provides access to a large and skilled labour force, highways and airports, and two of the Company's other nearby operating assets.
Supreme Cannabis will be retrofitting and licensing the existing facility in three phases. The Company has completed the first phase of construction on the Kitchener Facility, which includes a retrofitted multi-purpose processing clean room. At this stage, the Company has submitted its application to Health Canada for a cannabis processing license. This license will allow Supreme Cannabis to conduct product packaging and value-added processing at the Kitchener Facility. In Q4 FY2020, the Company expects to begin whole flower packaging and pre-roll manufacturing for Supreme Cannabis brands at the Kitchener Facility.
"With Supreme Cannabis Kitchener, we add the infrastructure to centralize internal processing and manufacturing and the ability to act as a packaging, manufacturing and distribution partner for third-party producers," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "Centralizing this increasingly important function in the value chain will create manufacturing, packaging and distribution synergies across our brands and allow for our existing operating assets to maintain a focus on their core capabilities. With this manufacturing centre of excellence, we gain the flexibility to respond to market trends such as working with third-party cannabis cultivators and long-term optionality to move into additional cannabis 2.0 product categories."
"With the addition of this operating asset, we welcome Sándor Wolkensperg as General Manager of Supreme Cannabis Kitchener," added Mr. Dhaliwal. "Sándor brings diverse experiences to this new role having previously led food processing, tobacco manufacturing and commercial packaging operations. Our Kitchener Facility will benefit from Sándor's expertise in regulated operations, experience working on brown-field facility start-ups and track record of successfully leading large teams through transformational periods of growth."
In his role as General Manager of Supreme Cannabis Kitchener, Mr. Wolkensperg will provide senior on-site leadership, oversee a diverse team, conduct operations planning and measure execution and performance. Prior to joining Supreme Cannabis Kitchener, Mr. Wolkensperg served as Vice President of Operations for Rimowa North America ("Rimowa"), a luxury brand owned by the global luxury conglomerate LVMH. At Rimowa, Mr. Wolkensperg led manufacturing, supply chain and logistics across multiple complexes serving North and South American markets. Mr. Wolkensperg's 30 plus years of operations experience also includes his role as Director of Operational Excellence at an international Fortune 500 company and over ten years of operational leadership positions in the regulated food and tobacco industries, including roles at Maple Leaf Foods and Imperial Tobacco Canada.
"The Kitchener Facility follows the same centre of excellence approach we have taken across Supreme Cannabis' existing suite of operating assets. With phased construction at the Kitchener Facility underway, we look for near-term opportunities to utilize the specific capabilities and expertise at each of our facilities," said John Griese, COO of Supreme Cannabis. "Health Canada recently granted two of our operating assets additional licenses that will allow for the near-term production of the Company's cannabis 2.0 products. We have created long-term opportunities for international revenue by building our Kitchener, Blissco and Scarborough facilities to a pharmaceutical manufacturing standard and preparing these sites to meet GMP compliance standards."
In Q2 FY2020, Supreme Cannabis completed construction on its 12,000 square foot facility in Langley, BC (the "Blissco Facility") adding ethanol-based extraction to its existing CO2 extraction capabilities. In October 2019, Blissco received a license amendment from Health Canada, which allows for the sale of cannabis 2.0 products. With this license amendment and the capacity to produce over 7,000,000 tincture bottles annually, Blissco's state-of-the-art extraction facility will process product for 7ACRES' vaporizer partnership with Pax Labs, Inc. ("PAX"). Going forward, in addition to producing high quality, full spectrum oil for the Blissco brand, the Blissco Facility will use its extraction expertise to fill 7ACRES' PAX Era vaporizer pods. The company expects to introduce 7ACRES pods for the PAX Era by the end of Q3 FY2020.
In Q1 FY2020, Supreme Cannabis closed the acquisition of Truverra and acquired a 5,000 square foot facility licensed under Canadian Clinical Cannabinoids Inc. in Scarborough, Ontario ("Supreme Cannabis Scarborough"). Supreme Cannabis Scarborough provides R&D space for the Company to test new products and develop medicinal science intellectual property. In November 2019, Supreme Cannabis Scarborough received its processing license from Health Canada, which will allow for the processing of cannabis concentrates. With the intention of scaling future concentrate manufacturing capabilities at the Kitchener Facility, the Company will complete small-batch concentrate manufacturing and testing at Supreme Cannabis Scarborough. Supreme Cannabis expects to introduce limited 7ACRES branded high end concentrate products to the Canadian market in Q4 FY2020.
Supreme Cannabis has determined that Cambium Plant Science's ("Cambium") genetics business will continue to operate out of the 7ACRES cultivation facility in Kincardine, Ontario. The Company is no longer proceeding with capital expenditure on the construction of the previously announced Cambium facility.
About Supreme Cannabis.
The Supreme Cannabis Company, Inc. is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's fastest-growing, premium plant driven-lifestyle companies by effectively deploying capital, with an emphasis on disciplined growth and high-quality products.
Supreme Cannabis' portfolio includes 7ACRES, its wholly-owned subsidiary and multi-award-winning brand; Blissco, a wellness cannabis brand and a multi-licensed processor and distributor based in British Columbia; Truverra Inc., a global medicinal cannabis brand and licensed cultivator; Cambium Plant Sciences, a plant genetics and cultivation IP group; MG Health Lesotho, a cannabis oil producer located in southern Africa; Supreme Heights, an investment platform focused on CBD brands in the UK and Europe and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.
Supreme trades as FIRE on the Toronto Stock Exchange (TSX: FIRE), SPRWF on the OTC Exchange in the United States (OTCQX: SPRWF) and 53S1 on the Frankfurt Stock Exchange (FRA: 53S1). Follow us on Instagram, Twitter, Facebook and YouTube.
We simply grow better.
Certain statements made in this press release may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results including, but not limited to: the filling and packaging of 7ACRES' PAX Era vaporizer pods at the Blissco Facility; Supreme Cannabis Scarborough manufacturing concentrates; foreseeable market demand; the function of the Kitchener Facility as a central manufacturing, processing and packaging centre for Supreme Cannabis brands; the intention to package, distribute and brand third-party cannabis inputs from quality focused cultivators at the Kitchener Facility; the retrofitting and licensing of the Kitchener Facility in three phases; the Health Canada license allowing Supreme Cannabis to conduct product packaging and value-added processing at the Kitchener Facility; the expectation to begin whole flower packaging and pre-roll manufacturing for Supreme Cannabis brands at the Kitchener Facility in Q4 FY2020; the infrastructure at the Kitchener Facility to centralize internal processing and manufacturing; the ability of the Company to act as a packaging, manufacturing and distribution partner for third-party producers; the creation of manufacturing, packaging and distribution synergies across Supreme Cannabis brands; gaining the flexibility to respond to market trends such as working with third-party cannabis cultivators and long-term optionality to move into additional cannabis 2.0 product categories; the responsibilities of Mr. Wolkensperg at the Company and his impact on the business and operations of the Company; the near-term production of the Company's cannabis 2.0 products; meeting GMP compliance standards; the production capacity at the Blissco Facility; Blissco's state-of-the-art extraction facility processing product for 7ACRES' vaporizer partnership with Pax; producing high quality, full spectrum oil for the Blissco brand; the Blissco Facility using its extraction expertise to fill 7ACRES' PAX Era vaporizer pods; the expectation to introduce 7ACRES pods for the PAX Era by the end of Q3 FY2020; the processing of cannabis concentrates at Supreme Cannabis Scarborough; the intention of scaling future concentrate manufacturing capabilities at the Kitchener Facility; completing small-batch concentrate manufacturing and testing at Supreme Cannabis Scarborough; the expectation to introduce limited 7ACRES branded high end concentrate products to the Canadian market in Q4 FY2020; the continuation of Cambium's genetics business operating out of the 7ACRES cultivation facility in Kincardine, Ontario; and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking information as discussed in the "Risk Factors" section of the Company's Annual Information Form dated September 17, 2019 ("AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
SOURCE The Supreme Cannabis Company, Inc.
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