NetworkNewsBreaks – Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) (FRA: 53S1) Releases Q2 2019 Financial and Operating Results

Supreme Cannabis Company (TSX.V: FIRE) (OTCQX: SPRWF) (FRA: 53S1) this morning announced the release of its financial and operating results for the three and six months ended December 31, 2018. According to the update, Q2 2019 highlights include: revenue of $7.72 million, reflecting a 359 percent increase from Q2 2018 and a 50 percent increase from Q1 2019; a net comprehensive loss of $1.55 million, compared net losses of $2.03 million in Q2 2018 and $5.39 million in Q1 2019. In addition, Supreme Cannabis strengthened its balance sheet during the quarter by raising gross proceeds of $100 million through a bought deal offering of 6 percent unsecured convertible debentures due 2021 led by GMP Securities L.P. and BMO Capital Markets. The company’s wholly-owned subsidiary, 7ACRES, was deemed Brand of the Year at the 2018 Canadian Cannabis Awards and completed first shipments of its branded cannabis to six of Canada’s provincially regulated adult-use channels. Supreme Cannabis also engaged Medipharm Labs Co. to facilitate launch of the company’s cannabis oil products line and entered into a international partnership agreement with Khalifa Kush Enterprises to develop and launch premium cannabis products for the Canadian and international markets excluding the U.S.

“During the second quarter we made our first shipments of 7ACRES-branded product to adult-use markets in six provinces,” Supreme Cannabis CEO Navdeep Dhaliwal said in the news release. “The consumer feedback has been overwhelmingly positive. Cannabis enthusiasts are vocal about their passion for high-quality cannabis. We believe 7ACRES has quickly established itself as Canada’s only premier cannabis producer at scale. With construction on the flowering room at 7ACRES scheduled to be completed by the end of March, we’re looking forward to increasing our production capacity to help meet consumer demand and drive further revenue growth throughout the year.  This quarter validated many aspects of our consumer driven market thesis and demonstrates the strength of our intellectual property around scaled cultivation.”

To view the full press release, visit http://nnw.fm/nu4PI

About Supreme Cannabis

The Supreme Cannabis Company 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 multi-award-winning brand, 7ACRES. 7ACRES is a federally licensed producer of cannabis operating inside a 440,000-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 its “Brand of the Year” award at the 2018 Canadian Cannabis Awards, “Best Licensed Producer Branding” award at the 2018 AdCann Advertising Awards and 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 been a leading innovator in the sector including the design of growing facilities and development of operational excellence metrics. It is confident that together with its flagship brand, proprietary technology and products, truly unique culture, and industry-leading team, the company will deliver its shareholders consistent long-term value creation. For more information, visit the company’s website at www.Supreme.ca.

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Latest News

Dog reunited with family 101 days after California wildfire

Feb 20, 2019

PARADISE, Calif. — A dog named Kingston is back with his family 101 days after he jumped out of their truck as they fled a devastating Northern California wildfire. The 12-year-old Akita was reunited Monday with the Ballejos family, who fled the town of Paradise late last year, Sacramento television station KXTV reported . "When I found out, (it) just about brought me to tears," said Gabriel Ballejos, Kingston's owner. "I'm so proud of him. I can't believe it. He's a true survivor, and it's a testament to the American spirit." Ballejos said they never lost hope and kept posting...

Yelich, Brewers focus on clean slate after near-miss in 2018

Feb 20, 2019

PHOENIX — Christian Yelich has already had conversations with some of his Milwaukee Brewers teammates about their biggest message this spring after coming up one win short of the World Series. "What you did last year means nothing basically. Whether it was good or bad for you as an individual or as a team, it means absolutely nothing. It doesn't matter," Yelich said. "We all start with a clean slate. It's all what are you going to do in 2019 to help the Brewers win." Even for the young slugging outfielder who was the NL MVP after nearly winning the...

Ducks retire Hall of Fame defenseman Niedermayer's No. 27

Feb 20, 2019

ANAHEIM, Calif. — Scott Niedermayer accomplished a lot during his 18-year NHL career. The Hall of Fame defenseman added one more to the list on Sunday night when he became the ninth player to have his number retired by two teams. The Anaheim Ducks raised Niedermayer's No. 27 to the rafters at the Honda Center, honoring their former team captain, who helped lead them to their only Stanley Cup title in 2007. He first had his number retired by the New Jersey Devils in 2011. The Ducks honored Niedermayer before their game against Washington and culminated a week of events...

NYC's Chinatown welcomes Year of the Pig with vibrant parade

Feb 20, 2019

NEW YORK — Drums, dragons and dancers paraded through New York's Chinatown on Sunday to usher in the Year of the Pig in the metropolis with the biggest population of Chinese descent of any city outside Asia. Confetti and spectators a half-dozen or more deep at points lined the route of the Lunar New Year Parade in lower Manhattan. "The pig year is one of my favorite years, because it means lucky — everybody likes lucky — and, for me, a relationship or family" and a better life, Eva Zou said as she awaited the marchers. "Because I just moved...

Israeli leader pledges funds for museum for Jewish WWII vets

Feb 20, 2019

JERUSALEM — Israel's prime minister says his government will allocate the necessary funds to complete the long-promised establishment of a museum honoring Jewish World War II veterans. Benjamin Netanyahu says Sunday he has "immense respect" for the Jewish fighters and they "deserve" a memorial. The project has been bogged down in bureaucratic stalemate for years as donor money dried up. The museum appeared doomed when Netanyahu's government did not renew its matching funds commitment four years ago. The story of the 1.5 million Jews who fought the Nazis — and the 250,000 who died in battle — has long been...

Search

About Us

Tale Out is your go-to website when it comes to global travel and lifestyle news. If you need suggestions for the most relaxing places for vacation or some zen spa retreat, we have it all here in Tale Out.

Contact us: sales@taleout.com