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.