Cambium Plant Sciences to disrupt cannabis industry through the development and licensing of next generation cannabis plant genetics and cultivation IP.
Supreme Cannabis will invest approximately $14 million for the construction of a state-of-the-art, 34,000 sqft research and development facility located in Goderich, Ontario.
TORONTO, April 22, 2019 /PRNewswire/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), today announced the launch of Cambium Plant Sciences ("Cambium"), located in Goderich, Ontario. Cambium, a wholly-owned subsidiary of Supreme Cannabis, aims to lead the agricultural revolution of cannabis genetics, redefining consumer experiences and cultivation economics across the global cannabis industry.
With the systematic application of research, technology and science, Cambium will focus on developing the next generation of premium cannabis genetics for recreational, medical and wellness applications. Cambium's innovative mission is to supply agriculturally-focused, disease resistant, premium seed stock to the rapidly growing global cannabis market.
"Our proprietary genetics selection methodology and ability to cultivate high-end cannabis at scale at 7ACRES has created strong industry demand for our proprietary genetics and cultivation techniques. It was as a result of the demand that we saw a global opportunity to create a company whose sole focus is innovating plant genetics and cultivation IP for the global cannabis market. We believe genetics are the foundation of proprietary cannabis products in the long term," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "Cambium will develop cultivars that benefit our in-house brands, as well as our domestic and global cultivation and manufacturing partners. Initially, Cambium is expected to benefit from 7ACRES' established genetics, existing infrastructure and the unparalleled plant knowledge of its team."
Leading Cambium as General Manager is Dr. Alan Darlington. Dr. Darlington joined Supreme Cannabis' wholly-owned subsidiary, 7ACRES as the Director of Special Projects, where he has been successful in improving the agricultural performance of 7ACRES' award winning genetics. Dr. Darlington holds a PhD from the University of Guelph in greenhouse systems and has over 30 years of experience leading and working with diverse multidisciplinary teams to develop plant-based IP.
"Cannabis has not yet had the benefit of the agricultural revolution that transformed commercial agriculture on a global scale over the past century. We believe, Cambium will play a leading role in advancing the cannabis industry by revolutionizing strain development to enhance the broader industry's outputs," said Dr. Alan Darlington, General Manager of Cambium. "From the next blockbuster recreational strain, to disease resistant agricultural seed stock, Cambium will seek to improve the economic profile of cannabis production by pushing the boundaries of the cannabis plant."
Supreme Cannabis will invest approximately $14 million to develop a world leading facility for cannabis-focused research and innovation. The Cambium facility will include the development of proprietary growing rooms for testing and selection of new genetics, breeding rooms for the creation of new seed stock, and supporting infrastructure in the existing 34,000 sqft facility. Supreme Cannabis expects to commence the retrofitting of the Cambium facility in the early summer of 2019 and Cambium has commenced the Health Canada licensing process.
The Supreme Cannabis Company, Inc., is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's fastest-growing, premium plant driven-lifestyle companies by effectively deploying capital, with an emphasis on disciplined growth and high-quality products.
Supreme Cannabis' portfolio includes 7ACRES, its wholly-owned subsidiary and multi-award-winning brand; Cambium Plant Sciences, a plant genetics and cultivation IP company; Medigrow Lesotho, a cannabis oil producer located in southern Africa; and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.
Supreme trades as FIRE on the Toronto Stock Exchange (TSX: FIRE), SPRWF on the OTC Exchange in the United States (OTCQX: SPRWF) and 53S1 on the Frankfurt Stock Exchange (FRA: 53S1). Follow us on Instagram, Twitter, Facebook and YouTube.
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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, the results and benefits of Cambium Plant Sciences' work, the conversion of the Goderich facility 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 October 2, 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.