The Supreme Cannabis Company, Inc. (TSXV:FIRE), has announce today that the company has entered into a definitive agreement to fund Medigrow Lesotho with a strategic equity investment of C$10,000,000 in exchange for 10% ownership of the company.
Subject to international regulatory approval, Supreme Cannabis and Medigrow Lesotho have also entered into a long-term distribution partnership to offer high grade cannabis oils on a global scale.
Supreme Cannabis will look to the South African based operation in Lesotho to supply the company with extracted cannabis oils. Medigro is currently licensed to cultivate and manufacture cannabis and cannabis oil products in South Africa.
Supreme Cannabis currently operates one of the largest, legally operated, cannabis cultivation facilities in the world called 7ACRES. The 342,000 sq. ft. Hybrid Facility combines top of the line indoor grow equipment with sustainable greenhouse farms techniques to ensure high yields and quality.