Supreme Cannabis Announces Key Additions to Executive Team
TORONTO, Aug. 24, 2018
- Supreme Cannabis adds top-level talent to leadership team to accelerate the company's strategic priorities, drive global growth, and build long-term shareholder value
TORONTO, Aug. 24, 2018 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSXV:FIRE) (OTC:SPRWF) (FRA:53S1), announced three senior leadership appointments to accelerate the company's strategic priorities and global growth.
"Over the last year, we have made significant progress in becoming a leading premium brand in the Canadian recreational market, having secured to-date supply agreements with Ontario, British Columbia, Alberta and Manitoba and anticipate being coast-to-coast on October 17," said Supreme Cannabis CEO John Fowler. "Our ability to execute on our Canadian recreational market strategy while simultaneously making investments that position the company for long-term growth is a testament to our people. Across the entire business, from our frontline operators to our senior executives, Supreme Cannabis is home to talented people passionate about the cannabis industry. These leadership appointments advance our objective to create shareholder value and propel Supreme Cannabis forward."
- Vice-President, Corporate Development: Scott Walters is a director of Supreme Cannabis and is the founder and former CEO of Molecular Science Corporation. Mr. Walters will focus on execution of the Company's growth strategy, work closely with business units to deliver top line growth, drive productivity to enable this growth, and invest in new areas of disruptive innovation.
Mr. Walters brings more than 20 years of capital markets experience and has focused on legal cannabis industries since 2013. In his most recent position, Mr. Walters took a mobile cannabis testing business from concept to dealer licensed status and multi-year contracted revenue with Canopy Growth (TSX: WEED)(NYSE: CGC) in under 18 months. Mr. Walters also has developed successful cannabis start-up's focused on providing medical sales channels, cannabis products and scalable services to the sector. He previously developed and led THC BioMed (now TSX-V: THC), Canabo Medical (now TSX-V: ALEF) and Empower Clinics (now CSE: EPW).
- Vice-President, Sales: Craig Young will continue evolving Supreme's sales strategy, building a top-tier sales team, forming strong relationships with provincial cannabis boards and private retailers to position Supreme Cannabis' current and future brands for retail success
Mr. Young has been instrumental in developing strong relationships with provinces coast-to-coast and securing supply agreements with four provinces to-date. Mr. Young comes to Supreme Cannabis with over 15 years of experience in the beverage alcohol industry. He has held senior roles with both the New Brunswick Liquor Corporation and The Nova Scotia Liquor Corporation. For the past ten years, he was a senior manager for Treasury Wine Estates, the world's largest publicly traded wine company (ASX: TWE) leading sales efforts across Canada, with a focus on the premium brand categories.
- Vice-President, Government Relations and International Affairs: Barinder Bhullar is currently a Principal of Mainland Strategies. Mr. Bhullar will guide Supreme Cannabis' international and emerging markets strategy to take advantage of the global market opportunity for medical cannabis. He will also lead government relations across Canada for the Company.
Mr. Bhullar is a public affairs strategic advisor with over a decade of experience in public policy, strategic communications and politics. He has served in a variety of senior roles within Government, including, Director of Policy in the office of the B.C. Premier, where he worked to ensure specific policy development aligned with the broader objectives of government. In this role, he led a team responsible for strategic planning and cross-government coordination. As Senior Director of International Missions for the British Columbia Government, Mr. Bhullar identified and led execution of targeted international trade missions and events, ensuring missions delivered trade and investment outcomes for BC. Mr. Bhullar engaged with external parties both in Canada and in International Markets to encourage business to business, and business to government relationships. His experience with dealing with major International companies will bring a tremendous asset to the Company.
The appointments are subject to customary approvals of the TSX Venture Exchange.
Grant of Stock Options
In addition to the aforementioned leadership changes, the Company granted 375,000 stock options (each an "Option") to various employees, directors and consultants pursuant to the Company's Employee Stock Option Plan (the "Plan"). Each Option has an exercise price of $1.50 and is exercisable at any time prior to August 23, 2023, subject to the terms and conditions of the Plan.
About Supreme Cannabis
The Supreme Cannabis Company (TSXV:FIRE) (OTC:SPRWF) (FRA:53S1) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Company's portfolio includes its wholly-owned subsidiary and flagship brand 7ACRES.
7ACRES is a federally licensed producer of medical cannabis operating inside a 342,000-square-foot facility in Kincardine, Ontario. 7ACRES is dedicated to providing consumers with a premium-quality product that recognizes its customers are informed, discerning and value a brand and culture that aligns with their principles. 7ACRES brand success has been reflected in provincial supply agreements, where 7ACRES' product is consistently listed in the highest brand category available to recreational consumers.
The Company's growing portfolio also includes an equity investment and long-term global distribution partnership with Lesotho-based Medigrow for the exporting of medical-grade cannabis oil.
The Supreme Cannabis Company has consistently set the standard for innovation in the sector, including the design of growing facilities and development of operational excellence metrics. We are confident that together with our flagship brand, proprietary technology and products, truly unique culture, and industry-leading team, we will deliver our shareholders consistent long-term value creation.
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to anticipated events or results and include, but are not limited to, expectations regarding our regulatory environment and potential changes in law, future supply agreements with provinces and territories in Canada, our future position of high quality product and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may" "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking statements are current as of the date they are made and are based on applicable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's Annual Information Form dated January 22, 2018 ("AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE The Supreme Cannabis Company, Inc.