In a recent media release, The Supreme Cannabis Company, Inc. announced that the Company’s wholly owned subsidiary, 7ACRES, has entered into a supply agreement with the New Brunswick Liquor Corporation to supply recreational cannabis to its retail stores and has been registered as a supplier in the province of Saskatchewan.
The two provinces become 7ACRES’ seventh and eighth provincial partners alongside British Columbia, Alberta, Manitoba, Ontario, Nova Scotia and PEI.
“We’re excited to announce that 7ACRES-branded products will be available for adult-use in eight Canadian provinces coast-to-coast,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “In a short amount of time, 7ACRES has won multiple awards and received overwhelmingly enthusiastic consumer feedback. Our Company has made it a priority to expand 7ACRES’ domestic distribution so that more Canadians will be able to experience our High-End CannabisTM products.”
In addition, the company recently received approval from the Depository Trust Company (DTC) of New York to make the Company’s shares DTC eligible.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be “DTC eligible”. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for certain investors.
“DTC eligibility greatly simplifies the process of trading our common stock in the United States, further improving our investment appeal south of the border,” said Navdeep Dhaliwal, CEO of Supreme Cannabis.
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 the Municipality of Kincardine, Ontario and 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 multiple award wins, including the “Brand of the Year” award at the 2018 Canadian Cannabis Awards, and in provincial supply agreements where 7ACRES’ product is consistently listed in the highest brand category available to recreational and medicinal 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.
“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,” says CEO Dhaliwal.