Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) this morning announced its projected revenue for the fiscal fourth quarter ended June 30, 2019 and provided guidance for fiscal 2020. Per the update, the company anticipates net revenue of about $19 million and positive adjusted EBITDA for the fourth quarter 2019. Supreme Cannabis also expects sustained revenue growth during 2020 as its wholly owned subsidiary 7ACRES scales production, new and higher-margin products are introduced, and additional brands start producing material revenue. The company plans to release audited fourth quarter and annual results on September 17, 2019. “Our company has taken deliberate steps to grow in a focused, responsible and compliant manner, building a strong core business and an authentic brand and then expanding into new lines of business and international markets,” Supreme Cannabis CEO Navdeep Dhaliwal stated in the news release. “In a sector dominated by headlines, our measured approach to capital deployment and brand-building sets us apart. We believe our preliminary results demonstrate the strength of our business during an inflection point within the industry, path towards profitability and continued disciplined growth. Looking forward, we remain focused on building our portfolio of premium consumer experience driven brands.”
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About Supreme Cannabis Company Inc.
The Supreme Cannabis Company is a global, diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the company has emerged as one of the world’s fastest-growing, premium, plant-driven, lifestyle companies by effectively deploying capital with an emphasis on disciplined growth and high-quality products. Supreme Cannabis’ portfolio includes 7ACRES, its wholly owned subsidiary and multiaward-winning brand; Blissco Cannabis Corp., a wellness cannabis brand and a multi-licensed processor and distributor based in British Columbia; Cambium Plant Sciences, a plant-genetics and cultivation IP company; Medigrow Lesotho, a cannabis-oil producer located in Southern Africa; Supreme Heights, an investment platform focused on CBD brands in the UK and Europe; and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada. For more information, visit the company’s website at www.Supreme.ca.
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