Good morning
I appreciate you sharing your concerns with us. This week, the sector is down and our recent announcement on a significant leadership transition is also likely impacting the stock price. I would like to assure you that Supreme Cannabis has the necessary capital, excellent leadership, consumer brands and focused assets in place to operate in this challenging market and succeed long term.
With the recent leadership change, the company continues to pursue its goal of transitioning the business towards a consumer packaged goods model, where our brands offer a portfolio of products that address consumer preferences across the Canadian market. As we transition our business from a wholesale model to recreational sales, we are building out the operating assets, creating the brands and attracting the people necessary to drive success.
In January, we will complete construction on our 440,000 square foot premium cultivation facility, 7ACRES. With this facility nearly complete, we are building out the Kitchener Facility, a central manufacturing, processing and packaging centre for Supreme Cannabis brands and third-party cannabis inputs. In addition to 7ACRES, Supreme Cannabis' Blissco facility in Langley, BC is fully operational, producing premium CBD oils and preparing to fill 7ACRES Pax Era pods for cannabis 2.0. From a brands perspective, we have strong consumer brands that address specific market segments. Our portfolio continues to grow as we broaden our addressable market by introducing products and brands for consumers beyond cannabis enthusiasts. I encourage you to check out our comprehensive list of brands: https://www.supreme.ca/brand-portfolio
As the cannabis industry enters its next phase, Supreme Cannabis is attracting top talent to its senior team. Most recently, John Griese joined the company at Chief Operating Officer, bringing unparalleled cannabis and CPG Experience. John has held executive level positions in operations and supply chain with Nestle and Pepsico. In addition to John, Joel Toguri recently joined our team as SVP Commercial, Joel brings over 20 years of regulated industry knowledge from both the cannabis and alcohol and beverage space. As we begin the search for our next CEO, we believe our focused business, industry leading culture and exceptional team will continue to attract top personnel.
The Board will look for an individual with the skills and experience to accelerate our profitable growth and transformation into a leading cannabis CPG company. In the interim, there are few people more ideally suited than Colin Moore to take on the role of CEO. Colin has 40 years of experience driving growth and efficiencies in consumer businesses like Starbuck, as well as deep familiarity with the Company and management team as a Board director. With Colin’s expertise and deep understanding of the business, he will begin accelerating the company’s transformation toward a branded consumer model. Under his leadership, we look forward to driving growth in the near term.
Please let me know if you have any further questions or concerns.
Regards,