- In a YouTube interview, Supreme Cannabis CEO Navdeep Dhaliwal stated that investors should focus on the company’s strong balance sheet
- Supreme Cannabis reported $41.8 million in sales for FY2019, as compared to $8.9 million in FY2018, marking a 370 percent year-over-year jump; the company also reported its first positive adjusted EBITDA
- Dhaliwal further noted that the performance of subsidiary 7ACRES is key to the company’s growth
The Supreme Cannabis Company Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), a global diversified portfolio of cannabis companies, projects that its fiscal 2020 net revenues will increase to an estimated $150 million to $180 million, with a positive adjusted EBITDA. In FY2019, Supreme Cannabis reported net revenues of $41.8 million, including its first positive adjusted EBITDA quarter of $3.2 million (http://cnw.fm/yACv7). FY2019 net revenue total itself was a 370 percent improvement compared to the company’s $8.9 million in cannabis sales posted for FY2018.
Supreme Cannabis CEO and director Navdeep Dhaliwal said during a YouTube interview with Evan Veryard, president of Capital 10X, that he believes the cannabis industry is entering a period where companies with strong business fundamentals will dominate.
“It’s an inflection point,” Dhaliwal noted in the interview in reference to Supreme Cannabis’ projections for FY2020 net revenues (http://cnw.fm/RRv6Q). “You’re starting to see a real separation between strong businesses and strong core operations that are going to be strong, dominant long-term with competitive advantage. We’re excited about this period in the market because business fundamentals are going to take over and a lot of the noise is going to go away.”
In the interview, Dhaliwal noted that investors should look at the strong balance sheet of Supreme Cannabis. “We have a very healthy cash balance, and we’re fully funded for all our planned business objectives,” he observed, adding that Supreme Cannabis is in a good position to receive non-diluted debt financing from tier-one lenders and to “fulfill all of our obligations, specifically to debentures which are due in 2020 and 2021… It is really about balance: building strong businesses, investing prudently in growth and taking a data-driven approach. Test and validate and then a scale approach. That’s our strategy.”
As a diversified consumer-driven business, Supreme Cannabis is also focused on high-margin, premium quality products, Dhaliwal observed. The company wants to please its highly discerning consumers with the highest quality products. One example of that focus, he pointed out, is the company’s 7ACRES subsidiary, which recently launched Jack Haze, its first proprietary strain.
Jack Haze is 7ACRES’ first sativa-dominant strain with rare sensory characteristics (http://cnw.fm/tN0zL). Plans call for more unique strains to be introduced in the future as the company differentiates 7ACRES’ high-end flower offering and earns premium pricing across Canada.
The Supreme Cannabis portfolio includes 7ACRES, an award-winning brand; Cambium Plant Sciences, a cultivation IP and plant-genetics company; Medigrow Lesotho, a Southern Africa cannabis-oil producer; Supreme Heights, the investment platform focused on CBD; Blissco Cannabis Corp, a wellness cannabis brand and a multiprocessor and distributor based in British Columbia; and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.
For more information, visit the company’s website at www.Supreme.ca
NOTE TO INVESTORS: The latest news and updates relating to SPRWF are available in the company’s newsroom at http://cnw.fm/SPRWF
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