The Supreme Cannabis Company (TSXV: FIRE) announced this morning that the company has obtained additional Health Canada approval to expand its state-of-the-art 7ACRES cultivation facility, located in Kincardine, Ontario, to feature an additional 30,000 sq. ft. of flowering rooms.
The new cultivation capacity for Supreme Cannabis’ 7ACRES facility will double the company’s estimated annual production to 10,000kg.
The 7ACRES facility is a state-of-the-art cultivation facility combining the best aspects of indoor and greenhouse cultivation. This allows the facility to implement careful cultivation practices that allows 7ACRES to produce high quality cannabis at scale. The public cannabis company provides premium branded 7ACRES cannabinoid derived products to consumers in Canada.
Supreme Cannabis is expected to completely finish cultivation of its 342,000 sq. ft. facility at the end of this year which solidifies the company’s position as a major retailer to the Canadian recreational cannabis market, which is set to become legal this October. Canada’s Parliamentary Budget Officer (PBO) projected that marijuana sales would be between CA$4.2 billion and CA$6.2 billion.
You may be interested
Lender420 Provides Funding Solutions to Fit Your Company’s Equipment NeedsEditor - September 24, 2018
Purchasing equipment involved in the cultivation, processing, manufacturing, and distribution of the cannabinoid-derived products can be one of the most expensive costs of setting up a successful…
Elixinol Global to increase ownership in Elixinol Japan to 50.5%Editor - September 24, 2018
Public company Elixinol Global Limited (ASX: EXL; OTCQX: ELLXF), a prominent producer of industrial hemp derived CBD products announced yesterday that its wholly-owned subsidiary, EXL International Holdings,…
Canopy River Begins Trading on the Toronto Stock Exchange (TSX)Editor - September 21, 2018
Yesterday, Canopy Rivers Inc. (TSXV:RIV) announced that their company has began trading on the TSX Venture Exchange under the ticker symbol RIV. The company works in conjunction with…