- In line with Health Canada’s amended cannabis regulations, Supreme Cannabis has reaffirmed its expanded product strategy
- Supreme Cannabis plans to debut a range of cannabis extract offerings, including vaping liquids, concentrates, oils and tinctures
- Health Canada’s amended regulations permit the legal production and sale of three additional types of cannabis products, including cannabis edibles, extracts and topicals
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is prepared to meet Health Canada’s amended cannabis regulations, which include three additional types of cannabis products: cannabis edibles, extracts and topicals (http://cnw.fm/C4st8).
The company’s strategy is to target premium brands, leverage its coast-to-coast distribution in Canada and expand into the international cannabis market. Supreme Cannabis’ expanded product strategy includes adding high-quality cannabis extracts, including vaping liquids, concentrates, oils and tinctures, to its brand portfolio.
Supreme Cannabis also plans to enter the extracts category through its agreement with vaporizer firm Pax Labs Inc. Terms of the agreement call for Supreme Cannabis subsidiary 7ACRES to become one of only four licensed producers to supply cannabis pods for the PAX Era vaporizer in Canada.
Supreme Cannabis also intends to commercialize and develop a product lineup that includes extracts and oils through its partnership with Khalifa Kush Enterprises of Canada ULC. Its proposed acquisition of Blissco Cannabis Corp. will also provide for new product development – under the Blissco brand – of oils and topicals for the wellness consumer.
Regarding the cannabis extracts market, Supreme Cannabis CEO Navdeep Dhaliwal said in a news release, “Supreme Cannabis has positioned brands, secured partnerships and developed inputs to address this meaningful segment of the market and introduce high-quality cannabis products as early as possible.” Dhaliwal added that the cannabis-extracts market represents some 35 percent of industry sales in some legal U.S. states.
New Health Canada regulations are expected to come into effect October 17, 2019. On July 15, license holders can start to submit requests for license amendments. On October 17, license holders can begin to submit new product notifications. Mid-December 2019 is the earliest anticipated date when new products can be sold, per a Health Canada release (http://cnw.fm/TMh7z).
Supreme Cannabis is a Toronto-based company that is focusing on pursuing opportunities and generating sustainable growth in what it sees as an emerging global market.
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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