Seattle, Washington--(Newsfile Corp. - April 22, 2019) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1). The company is well-known for its exceptional leadership team and ultra-premium cannabis products sold under the award-winning 7ACRES brand. Through their 440,000 sq. ft. facility in Kincardine, Ontario, the company produces uncompromised products that are consistently listed in the highest brand category available to recreational consumers.
The Canadian cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of adult-use cannabis last year and the upcoming legalization of edibles later this year. While many companies have focused on scaling up their production capacity at any cost, investors may want to shift focus to companies focused on disciplined growth and high-quality products as the industry matures.
Bringing Quality to Cannabis Oils
Altria Group's $12.8 billion investment in JUUL for a mere 35% stake underscores the consumer shift from cigarettes to vape pens. The same concerns about smoke inhalation, offensive odors and indiscreet consumption are driving consumers from cannabis flower to cannabis oil. For example, Colorado cannabis flower sales fell from a 67% market share in 2014 to 44% market share by 2018.
Canada plans to legalize cannabis edibles and beverages later this year. By doing so, demand for cannabis oils could experience a significant increase. These products may be more palatable to consumers that are hesitant to smoke cannabis flower or use cannabis oils in vape pens. The new product categories could also create opportunities for higher profit margins as consumers may be willing to pay more for a unique experience.
Supreme Cannabis may not be a first-mover in the cannabis oil space, but its commitment to quality could make it a market leader. Using the ultra-premium cannabis grown at its 7ACRES facility, the company leverages supercritical CO2 technology to produce a high-quality, purified cannabis oil that carries the award-winning qualities of its flower into an oil product for consumers seeking a premium cannabis oil experience.