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
Columbia Care Receives Licenses from Maltese GovernmentEditor - November 15, 2018
Columbia Care LLC. has announced this morning that the company has gain approval from Malta Enterprises, the regulatory economic development agency in the country, to receive licenses…
Tilray Announces Impressive 2018 Q3 FinancialsEditor - November 14, 2018
Wholly-owned subsidiary of Privateer Holdings, Inc., Tilray (NASDAQ: TLRY), has announced the company’s third quarter financial statements for 2018 this morning. Earlier this year, Tilray debuted its…
Valens Signs Cannabidnoid Extraction and R&D Agreement with Harvest OneEditor - November 14, 2018
Valen GroWorks Corp. (CSE: VGW) (OTC-QB: MYMSF) has announced this morning that the company has entered into an agreement with Harvest One (TSXV:HVT) to provide services in…