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Supreme Cannabis Company Receives a Prime U.S. Upgrade

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The Supreme Cannabis Company Inc. (TSXV:FIRE) has qualified to trade on the OTCQX Best Market in the U.S.

SmallCapPower | September 4, 2018: The Supreme Cannabis Company Inc. (TSXV:FIRE) has qualified to trade on the OTCQX Best Market, this according to the OTC Markets Group Inc. (OTCQX:OTCM), operator of financial markets for 10,000 U.S. and global securities.

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Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group, remarked, “Trading on OTCQX will enable Supreme Cannabis to efficiently provide their U.S. investors with current information and greater transparency. We are pleased to welcome Supreme Cannabis to our OTCQX Best Market and look forward to supporting the company as it builds long-term shareholder value.”

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Supreme Cannabis commenced trading on QTCX under the ticker ‘SPRWF’ on Wednesday. The Company was sponsored for OTCQX by McMillan LLP, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.

Supreme Cannabis CEO John Fowler said, “We are excited about qualifying for the OTCQX market.  Considering the Company’s anticipated growth outlook in the near-term, which includes being on shelves coast-to-coast when the legal recreational cannabis market launches on October 17, 2018, moving up to OTCQX is an appropriate next step in the Company’s growth plan. Being traded on OTCQX will allow for greater exposure, accessibility, and liquidity for the investment community as we continue to execute on our strategy of building a global cannabis company.”

The Supreme Cannabis Company’s portfolio includes its wholly-owned subsidiary and flagship brand 7ACRES, a federally-licensed producer of medical cannabis operating inside a 342,000-square-foot facility in Kincardine, Ontario. Also, the Company’s growing portfolio includes an equity investment and long-term global distribution partnership with Lesotho-based Medigrow for export of medical-grade cannabis oil.

The Supreme Cannabis Company trades at a market capitalization of C$549.85 million with price-to-book multiple of 3.81x.

Disclosure: Neither the author nor his family own shares in the company mentioned above.

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