Toronto-based cannabis producer Supreme Pharmaceuticals Inc. (TSXV: FIRE) announced that its subsidiary 7ACRES began cultivation in new flowering rooms recently approved by Health Canada.
They hand-transplanted 3,000 plants of the “Wappa” cannabis phenotype yesterday in the first of three 10,000 sq. ft. flowering rooms. Wappa was selected due to strong market feedback, growth characteristics and terpene content. The company plans to plant the remaining 20,000 sq. ft. in November 2017, increasing capacity to over 5,000 kg per year.
Supreme is a Canadian publicly traded company aspiring to be the leading cultivator and distributor of premium sun-grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES operates in a 342,000 sq. ft. hybrid facility.
Supreme stock closed at $1.39. Supreme is roughly the 25th largest cannabis as measured by its market cap of $270.13m.