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- As of calendar year-end, 7ACRES has 19 completed flowering rooms
- Completion of all 25 flowering rooms scheduled for March 2019
- Administrative offices and other facilities scheduled for completion by mid-2019
- Health Canada approval of additional flowering rooms expected in the near term
TORONTO, Jan. 2, 2019 /CNW/ – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSXV: FIRE) (OTCQX: SPRWF) (FRA: 53S1), announces that as of calendar year-end, 7ACRES has 19 completed flowering rooms and is on track for all 25 flowering rooms to be completed in March 2019. Once completed, 7ACRES will have a greenhouse footprint of approximately 300,000 square feet, with the total facility reaching over 440,000 square feet. Supreme Cannabis expects 7ACRES to reach its estimated annual output of 50,000 kg by the middle of calendar 2019.
Management believes the 7ACRES facility is unique in Canada for its ability to produce high-quality cannabis on a commercial scale. Each of the facility’s modular flowering rooms utilize industry-leading HPS lighting technology to provide “indoor” quality lighting that is supplemented by the sun to improve terpene and cannabinoid production. The facility’s modular design allows each flowering room to provide variable environmental conditions tailored to the specific needs of the crop in production, while also reducing the risk of crop loss.
An updated timeline of construction completion is as follows:
- December 2018 – 19 total flowering rooms completed.
- January 2019 – 3 additional flowering rooms are expected to be completed.
- February 2019 – 1 additional flowering room is expected to be completed.
- March 2019 – 2 additional flowering rooms are expected to be completed, representing the completion of all 25 flowering rooms.
- Mid-2019 – primary office and administrative area are expected to be completed.
Expansion of the facility is subject to Health Canada regulatory approvals. As flowering rooms are completed, Supreme Cannabis intends to look for opportunities to streamline the Health Canada review process, such as by having groups of completed rooms reviewed simultaneously for licensing.
“We are thrilled with the progress made at our facility in Kincardine, Ontario and are excited to announce that we are nearing completion for all of our flowering rooms,” said John Fowler, President & Founder of Supreme Cannabis. “In our view, 7ACRES sets the international standard for cannabis cultivation and allows us to grow craft-quality cannabis at scale. We believe consumer behaviour has validated our thesis that people prefer higher-quality flower and are willing to pay more for it, and as the market expands for derivative products such as vape pens and edibles we expect consumers will prefer products extracted from the highest quality inputs.
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