- The company has entered an exclusive partnership with PAX Labs
- Supreme recently appointed a new chief information officer and a VP of talent
- The vaping market is projected to reach $47.11 billion by 2025, with North American markets expected to represent the largest share at $20.49 billion
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is out to grow the world’s best cannabis and become a leader in the global industry. As Canada’s only coast-to-coast, premium-cannabis producer, SPRWF sees itself at the center of a global shift toward legalizing cannabis. The company is expanding through strategic partnerships and a strong leadership team. By effectively deploying capital and focusing on disciplined growth and high-quality products, Supreme Cannabis has positioned itself as one of the world’s fastest-growing, premium plant-driven lifestyle companies.
SPRWF is accelerating its growth into the vaporizer market. In June, the company announced an exclusive partnership with PAX Labs (http://cnw.fm/uGG9V). Pending Canada’s federal legalization of vaporizable products, the company will become a foundational brand partner and supplier for PAX Era in Canada. 7ACRES, a wholly owned subsidiary of SPRWF, will be one of only four licensed producers to create cannabis oil pods for the PAX Era, and Supreme Cannabis anticipates selling the branded Era pods coast-to-coast in Canada.
“We have been working hard to ensure Canadian consumers will be able to enjoy quality cannabis concentrates in a convenient pod format,” PAX Canadian General Manager Tim Pellerin stated in a news release (http://cnw.fm/d3Eoe). “That is why we are excited to launch our immersive PAX Era experience with quality products from four powerhouse cannabis companies — Aphria, Aurora, Organigram, and Supreme Cannabis.”
PAX operates with the mission of establishing cannabis as a force for good. PAX does not manufacture, produce or sell cannabis, but instead designs and develops premium, app-controlled vaporization technologies and devices. The PAX mobile app allows the user to manage vapor, potency and flavor output. The app also has a security feature that locks the vaporizer from unwanted use. The PAX Era has the added ability to adjust vapor delivery based on the strength of the pull, making sure that no drop is wasted.
PAX has already proven itself as the best-selling pen-and-pod system in the U.S. vaping market and has sold 1.5 million devices worldwide. In 2018, e-cigarettes represented a $3.6 million market in the United States alone (http://cnw.fm/Gl6Kr). By 2025, the global e-cigarette and vaping market is projected to reach $47.11 billion, with North America expected to have the largest part of that share at $20.49 billion.
The fastest-growing segment of this market is expected to be modular devices that allow users to adjust vapor output to preference (http://cnw.fm/q88AO). In this respect, PAX is ahead of the game, already offering this ability to consumers through its mobile app.
“Together, we expect to deliver 7ACRES’ multi-award-winning flower extracted into oils exclusively for use in North America’s best-selling premium vaporizer, the PAX Era,” added Supreme Cannabis CEO Navdeep Dhaliwal (http://cnw.fm/9iySj). “7ACRES has established itself as the leading Canadian brand for high-end cannabis flower at scale, and as we extend our brand into newly available product categories, we are committed to maintaining the same level of quality our discerning consumer has come to expect. As our brand portfolio grows, we look forward to working with PAX to deliver additional premium brand experiences onto the PAX Era platform.”
In addition, SPRWF continues its next stage of growth with new appointments (http://cnw.fm/xAwd6). Ash Rajendra, an experienced information technology and business leader with a deep understanding of vertically integrated products, has been named the company’s new CIO. As the new VP of talent, Valerie Rother brings more than 16 years of experience in recruitment, talent management and HR business practices to the company. Supreme Cannabis also announced that John Fowler has resigned as director, a role he had held since 2014. Fowler will take on the new position of chief advocacy officer and managing director.
“We are excited to welcome Mr. Rajendra and Ms. Rother to the Supreme Cannabis team,” continued Dhaliwal. “Both bring a wealth of experience and knowledge to drive the company’s next phase of growth. Coupled with our recreational brand, 7ACRES, and the recent addition of our wellness brand, Blissco, and our anticipated acquisition of our global medical brand, Truverra, Supreme Cannabis has evolved as a global leader in premium cannabis brands and products. Our team continues to grow and evolve to meet the demands of this fast-moving industry.”
In additional to 7ACRES, the company’s portfolio includes Cambium Plant Sciences, Medigrow Lesotho, and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.
For more information, visit the company’s website at www.Supreme.ca
NOTE TO INVESTORS: The latest news and updates relating to SPRWF are available in the company’s newsroom at http://cnw.fm/SPRWF
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