- Supreme Cannabis to supply the province of British Columbia with 553 kg of cannabis for
the recreational market
- All Supreme Cannabis' 7ACRES product to be listed in the top-tier brand category in BC
TORONTO, July 11, 2018 /CNW/ - The Supreme Cannabis
Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV:FIRE), today announced that the Company's wholly owned subsidiary,
7ACRES, has entered into a memorandum of understanding ("MOU") with the British Columbia Liquor Distribution Board ("BCLDB") to
supply recreational cannabis to BC's private cannabis retailers.
Under the terms of the MOU, 7ACRES will supply the BCLDB with 553 kg of cannabis over a 12-month period. All 7ACRES product
will be listed in the top-tier brand category in BC – consistent with other provincial supply agreements 7ACRES has signed.
"British Columbia is a bellwether province for the recreational cannabis space – we consider
it one of the most informed and discerning consumer markets for cannabis in the country. It is a testament to our brand, culture
and our people that we will be listed in the highest brand category in BC," said John Fowler, CEO
of Supreme Cannabis.
British Columbia becomes Supreme Cannabis' third provincial recreational partner alongside
Manitoba and Alberta. The Company will provide updates on
further provincial partners as they become available. With an annual production capacity expected to reach 50,000 kg once the
7ACRES facility is fully operational, the Company is committed to supplying premium-quality cannabis flower to the Canadian
recreational market from coast-to-coast.
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 flagship brand 7ACRES.
7ACRES is a federally licensed producer of medical cannabis operating inside a 342,000-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 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 consistently set the standard for innovation in the sector, including the design of growing
facilities and development of operational excellence metrics. We are confident that together with our flagship brand, proprietary
technology and products, truly unique culture, and industry-leading team, we will deliver our shareholders consistent long-term
value creation.
Please visit www.supreme.ca and www.7ACRES.com for more information.
Forward-Looking Information
Certain statements made in this press release may constitute forward-looking information under applicable securities laws.
These statements may relate to anticipated events or results and include, but are not limited to, expectations regarding our
regulatory environment and potential changes in law, the growth in our capacity and sales, our future position of high quality
product 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 statements are current as of the date they are made and
are based on applicable 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 statements, including, without limitation, the factors
discussed in the "Risk Factors" section of the Company's Annual Information Form dated January 22,
2018 ("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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE The Supreme Cannabis Company, Inc.
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