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CAN (ON): Supreme acquires 6 acres for indoor cannabis facility

Supreme has purchased an approximately six acre property adjacent to the 7ACRES facility in Kincardine, Ontario. Supreme expects to build an indoor cultivation facility ("Lot 16") to produce high quality, "California-Style" cannabis for the premium product segment.

Supreme is currently in the design phase of the project and intends to break ground in the summer of 2018. The Company intends to complete the project by the end of 2019. Supreme anticipates that Lot 16, once fully operational and subject to licensing by Health Canada, will produce 10,000 kg per year of premium "California-Style" indoor cannabis. Supreme intends on using lighting, HVAC and irrigation infrastructure ideally suited to cultivating premium cannabis cultivars. Lot 16 is expected to employ Supreme's proprietary post-harvest processes to produce dried cannabis flower that is slow-dried, artisanal cured and finished by hand. Supreme intends to market the Lot 16 dried cannabis flower as an ultra-premium consumer product and pursue favorable pricing economics with current and future retail partners. Supreme acquired the Lot 16 land for $1,927,200.  

"Supreme's goal is to be synonymous with quality and a leader in the premium segment for cannabis flower," said John Fowler, CEO of Supreme. "Since inception, we have been resolute in our belief that cannabis consumers are quality driven and willing to pay a premium for cannabis flowers with exceptional qualities. We believe the premium product segment for dried flower will be significantly under-supplied in Canada given the industry focus on low-cost cannabis and traditional greenhouse infrastructure. Lot 16 represents the next step in the development of our Kincardine Campus, and additional progress towards Supreme being a dominant player in the premium segment for dried cannabis flower in Canada", says John Fowler, CEO and Director of Supreme.

For more information:
Supreme Pharmaceuticals
202 – 20 De Boers Dr, Toronto ON
M3J 0H1
Phone: (416) 630-7272

Publication date: 12/19/2017



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