Supreme Cannabis' wholly owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada, a subsidiary of Tilray.
This agreement is a guaranteed commitment to purchase. It will cover the twelve-month period starting October 1, 2018 and is estimated to have a value of approximately C$12 million. As was the case with the recently announced deal between the two companies, the dried cannabis provided to Tilray by 7ACRES will be used primarily to support medical cannabis patients in Canada, including Tilray's robust patient population.
"We are excited to be entering into this agreement with Tilray, an organization – like Supreme Cannabis – that focuses on the end user and demands leading quality assurance standards," said John Fowler, President of The Supreme Cannabis Company. "Tilray has built an industry-leading global medical distribution platform, which has resulted in robust demand for high quality cannabis products. We are happy to provide 7ACRES premium products alongside Tilray's well-regarded and existing lineup to support medical patients around the world."