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

Orangutan mother blinded by air gun pellets in Indonesia

Mar 20, 2019

SIBOLANGIT, Indonesia — An orangutan mother has been blinded after being shot with at least 74 air gun pellets on Indonesia's Sumatra island, where threats to the endangered species have increased as the palm oil and paper industries shrink its jungle habitat. An X-ray showed at least 74 air gun pellets in her body, including four in her left eye and two in the right, said veterinarian Yenny Saraswati with the Sumatran Orangutan Conservation Program. The great ape, named "Hope" by her rescuers, also had several wounds believed to have been caused by sharp objects, she said Monday. Hope also...

Jakarta's 1st subway to ease frustration, sweat and fumes

Mar 20, 2019

JAKARTA, Indonesia — Commuting in Indonesia's gridlocked capital will for some involve less frustration, sweat and fumes when its first subway line opens later this month. The line is the latest of infrastructure improvements nationwide that officials hope will help the giant but laggard nation catch up with its neighbors. The 16-kilometer (10-mile) system running south from Jakarta's downtown is the first phase of a development that if fully realized will plant a cross-shaped network of stations on the teeming city of 30 million people. A $2.4 billion elevated rail network linking Jakarta and its satellite cities is also taking...

Asian stocks edge up on stimulus hopes after Chinese data

Mar 20, 2019

SINGAPORE — Asian markets were mostly higher Thursday as slowing Chinese industrial output left traders hopeful of more assurances from Beijing. Japan's benchmark Nikkei 225 gained 0.7 percent to 21,431.28 and the Kospi in South Korea was up 0.1 percent at 2,149.48. Hong Kong's Hang Seng added 0.1 percent to 28,840.30. Australia's S&P/ASX 200 rose 0.1 percent to 6,167.00. The Shanghai Composite lost 0.6 percent to 3,010.06. Shares were flat in Taiwan but fell in Singapore and the Philippines. China's industrial output grew 5.3 percent in the first two months of 2019 from the same period last year, official data...

Malaysia shuts 111 schools as toxic waste sickens students

Mar 20, 2019

KUALA LUMPUR, Malaysia — Toxic waste illegally dumped into a river in southern Johor state sickened scores of students and teachers, prompting Malaysia's government to order 111 schools to close Wednesday. Education Minister Maszlee Malek earlier Wednesday told 34 schools to shut down and later said that number was up to 111 schools. He didn't give details. More than 500 people were treated for breathing difficulties, dizziness, nausea and vomiting after inhaling toxic fumes from the waste. Officials said 166 people were hospitalized, and several were under intensive care. Environment Minister Yeo Bee Yin was quoted by the country's Bernama...

Indonesia, experts wary of linking Boeing crashes

Mar 20, 2019

JAKARTA, Indonesia — Two fatal crashes of Boeing 737 Max 8 planes less than five months apart have raised alarm, but experts are wary of linking the two. The head of Indonesia's National Transportation Safety Committee, Soerjanto Tjahjono, said Tuesday it was unclear if the cause of Sunday's disaster in Ethiopia was similar to the still-undetermined reason for a Lion Air crash in October. Tjahjono said his agency is waiting for Ethiopian authorities to respond to its offer to assist with the investigation into the crash that killed all 157 people aboard. The Max 8 operated by Indonesia's Lion Air...