I saw this posted on reddit which outlines the early stages of Supreme vs. its peers that started off around the same time. It's very eye opening to see how Supreme has always been the laggard of the bunch, moving much slower than the pack, and delivering the lowest ROI from the bunch. Hindsight is 20/20 but obvoiuslu picked the wrong horse here from the get go.
7ACRES was started in 2012, and used to be known as AMMCan (Advanced Medical Marijuana Canada; it is listed as such on Health Canada's LP website). SL had been public even before 7ACRES' nearly two year wait time as an applicant. Supreme Pharmaceuticals used to be known as Supreme Resources until a name change was proposed in January 2014 as the company explored opportunities in the medical marijuana sector. In May 2014, SL purchased 7ACRES' greenhouse for $4.5 MM ($1.0 MM in cash + $3.5 MM in a vendor mortgage). In July 2014, the company split the stock 1:5 to reduce the share count. Since then, the company has invested over $5.0 MM in capex retrofitting the currently operating 40,000 sq ft for cannabis production. 7ACRES was the 30th license granted by Health Canada when the company received a license to cultivate in March 2016.
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OrganiGram was formed in early 2013, imported ready-made grow and vegetation rooms from the US, submitted its license application for the Moncton facility in July 2013, received a license to sell in March 2014. OrganiGram was the 14th company to receive a license from Health Canada.
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CGC Tweed Farms, formerly known as Prime1 Construction Services (Park Lane), was still an applicant when it was acquired by Tweed Marijuana Inc. in June 2014. The 350,000 sq. ft. greenhouse was acquired for $3.6 MM cash and 519,031 shares related to milestones. The facility received a license to cultivate only two months later, which shows that Health Canada may expedite the licensing process if
-CGC Tweed was formed in early 2010, submitted its license application for the flagship Smiths Falls facility (former Hershey Chocolate factory) in September 2013, received a license to cultivate in November 2013, and subsequently a license to sell in January 2014.
My point is they were in the game for so long already, yet under performed. They went the B2B route, which in this environmental landscape and how weeds evolved so quickly in the past 3 years their business plan hasn't worked for them.
When I started investing in Weed stocks in Early 2016 APHA - $1.93 ($125 MM) CGC - $2.74 ($284 MM) MT - $2.31 ($91 MM) OGI - $1.16 ($77 MM) SL (FIRE) - $0.40 ($48 MM)
Currently, APHA - $9.37 ($2.29 B) CGC - $61.20 ($21.12 B) MT - (Bought out) OGI - $9.39 ($1.44 B) SL (FIRE) - $1.93 ($565 MM)