Supreme’s 7ACRES Continues to Impress
Ash Stringer
November 14th, 2019
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2018 was a stellar year for cannabis advocates as the green rush of marijuana legalization swept the globe, including California, the world’s fifth biggest economy, legalizing recreational marijuana and Canada becoming the first G20 nation to do so; however, 2019 may go down – surprisingly – as the year of a cannabis shake-out. Despite retreating stock prices, some companies are thriving and moving ahead of their peers, achieving brand recognition and increasing recreational sales.
From its headquarters in Toronto, Canada, The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF), continues to develop its formidable portfolio of assets that set it apart from peers, including its foundational asset, the award-winning 7ACRES brand and up-and-coming brand Blissco.
More Awards for the Trophy Case?
7ACRES is widely recognized as a premium brand that commands a premium price. The company’s over 600 skilled employees include seasoned cannabis vets devoted to cultivars with uncompromised aroma and flavor. The bright minds that selected some of the 7ACRES leading strains have now been moved over to Cambium Plant Sciences, a new subsidiary of Supreme Cannabis that will focus on the development and licensing of next generation cannabis plant genetics and cultivation IP.
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The quality of the 7ACRES team and product is evident; 7ACRES regularly finds itself at the podium of some of the most well-known cannabis awards in the industry. Amongst other accolades, 7ACRES was named “Craft Grower of the Year” at the Grow Up 2019 Awards, “Brand of the Year” at the 2018 and 2019 Canadian Cannabis Awards and was awarded the “Best Marketing Campaign” of the year at the 2019 O’Cannabiz Awards for its “Respect the Plant” campaign.
On November 8, Lift & Co. hosted the Canadian Cannabis Awards. Once again, 7ACRES received a wide variety of nominations. Rebecca Phillips, Production Director/Master Grower at 7ACRES, was up for “Women in Weed – Trailblazer” and Melanie Carruthers, Master Grower at 7ACRES, was nominated for “Top Master Grower”. For the second year in a row, 7ACRES took home the “Brand of the Year” award.
Consumers Love Premium Goods
7ACRES will not offer low-quality product to consumers. Once thought to be a counterintuitive strategy, the company has proven its model with many of its sell-out premium strains asked for by name throughout Canada.
The strategy actually dovetails perfectly into data showing consumers don’t mind opening their wallets for legal, hand-crafted marijuana. In fact, a study of 724 people published on PubMed concluded that consumers view cannabis sold legally as being of higher quality than that on the black market and that higher prices for legal products won’t impact buying habits to avoid illegal purchases.
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This research supports other data that shows 85% of cannabis enthusiasts won’t buy products that have subpar scent and 63% won’t make purchases of marijuana products that don’t pass their visual inspection.
From its 440,000 square-foot indoor hybrid facility, 7ACRES produces best-in-class cannabis. 7ACRES is clearly differentiating itself with higher-quality and higher-priced products. In September, 7ACRES launched its latest high-end brand, Jack Haze, into its extensive distribution network throughout Canada. As 7ACRES’ first sativa dominant strain, Jack Haze – a play on the famous Jack Herer strain – delivers high THC content with a rare terpinolene forward profile.
Blissco Integrated, Diversified Revenue from Wellness Products
Blissco is an established wellness brand as a distributor and retailer in British Columbia producing cannabis oils since August 2018 that is ready to ramp up operations. This month, the company received a new licensing approval from Health Canada for the sale of full spectrum cannabis oil products from its facility in Langley, British Columbia.
After acquiring Blissco earlier this year, Supreme has been nose down integrating and advancing the business, while initiating construction on a commercial-scale ethanol-based extraction lab to expand upon the existing CO2-based extraction facility. The new facility should be completed by the end of the year, with the capacity to produce over 7 million tincture bottles per annum.
Supreme management expects the Blissco brand expansion to add meaningfully to sales during fiscal 2020, which began at the start of July.
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