The Supreme Cannabis Company, Inc. Supreme Cannabis’ premium wellness brand and a multi-licensed processor and distributor, has received licensing approval from Health Canada for the sale of cannabis oils from its facility in Langley, British Columbia (the “Facility”).
The cannabis oil sales license granted by Health Canada (the “License”) allows Blissco to sell full spectrum cannabidiol (CBD) oil products. As previously announced, Supreme Cannabis closed its acquisition of Blissco in the first quarter of fiscal 2020. The Company has since integrated, focused and advanced Blissco’s business, initiating construction on a large-scale ethanol based extraction lab to expand upon Blissco’s existing CO2-based extraction capability. By the end of calendar year 2019, Supreme Cannabis expects that the Facility will have the capacity to produce over 7,000,000 tincture bottles annually. Supreme Cannabis also expects the Blissco brand to meaningfully contribute to projected revenue in fiscal 2020.
“With the receipt of the License and expanded extraction capacity, Blissco will be positioned to address the growing unmet demand for high-quality CBD oil products across Canada,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “Blissco’s legacy of premium whole flower products established a brand that represents quality and authenticity to wellness consumers. For over a year, Blissco’s team developed advanced oil processing and formulation capabilities based on the same ethos. Consumers will soon be able to experience high-quality CBD oil products from a premium wellness brand they have come to trust. The team at Blissco has developed sophisticated expertise and diligently executed against ambitious business objectives, their hard work and vision has led to this significant milestone.”
Blissco anticipates launching its first CBD oil product to the Canadian market in the second quarter of fiscal 2020 and introducing a suite of complementary cannabis extract products in subsequent quarters.
Supreme Cannabis is also pleased to announce that Todd McAdam has assumed the role of General Manager of the Facility. Mr. McAdam is a highly experienced operations professional with a career that spans more than 30 years in the food and beverage industries. Mr. McAdam most recently served as General Manager at Labatt Breweries of Canada’s Turning Point Brewery in British Columbia. Mr. McAdam will manage and support the production, sale and distribution of Blissco’s high-quality products.