- The company recently announced the upcoming acquisition in an all-stock transaction worth approximately C$48 million
- The alignment of values stemming from this transaction emphasizes Supreme’s dedication to providing premium products, education, support and customer care on a global level
- The acquisition takes Supreme one step closer to becoming a leading global provider of cannabis for personal wellbeing
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), Canada’s only coast-to-coast premium cannabis producer, recently announced its entry into a definitive arrangement agreement to acquire Blissco Cannabis Corp. in an all-stock transaction worth approximately C$48 million (http://cnw.fm/3Zkgp). Blissco has built a distinct premium wellness brand that is expected to complement Supreme Cannabis’ growing portfolio.
Supreme Cannabis is one of the world’s fastest-growing premium plant-driven lifestyle companies. Blissco is set to join the company’s growing portfolio, which already includes 7ACRES, Cambium Plant Sciences, Medigrow Lesotho and Khalifa Kush Enterprises Canada.
Based in British Columbia, Blissco is a multi-licensed processor, cultivator and distributor of premium cannabis. The company is dedicated to providing premium products, education, support and customer care on a global level. From its beginnings, Blissco has valued environmental stewardship, health, wellness and personal well-being.
“Supreme Cannabis is the best-positioned company in the cannabis space to help Blissco achieve its ambition of delivering innovative, quality-assured, full-spectrum cannabis products to the world,” CEO Damian Kettlewell, who founded Blissco in 2013, stated in a news release. “By merging with Supreme Cannabis, Blissco shareholders will benefit from the combined expertise of both companies in growing premium cannabis brands, producing and procuring high-quality inputs, commercializing new products and ensuring regulatory compliance. Blissco shareholders will also benefit from Supreme Cannabis’ enhanced trading liquidity on the TSX and greater access to capital that will allow us to focus and accelerate Blissco’s premium wellness business.”
Per the update, Kettlewell will continue to lead Blissco, remain employed at Supreme Cannabis and retain 75 percent of his shares for a minimum of two years.
Blissco has worked hard to build a distinct brand, and this strategic partnership with Supreme Cannabis is expected to allow the company to focus on the production and commercialization of its premium wellness products. Together, Supreme Cannabis and Blissco will move toward the combined vision of improving global well-being with cannabis.
The arrangement will require approval by Blissco shareholders, and closing is subject to the approval of the Supreme Court of British Columbia, conditional approval from the TSX for listing the Supreme Cannabis Shares to be issued in connection with the Arrangement, receipt of required regulatory approvals and other customary conditions of closing.
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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