Supreme Pharmaceuticals (CSE:SL) has announced that its wholly-owned subsidiary, 7 ACRES, has received license renewal to cultivate cannabis.
As quoted in the press release:
Supreme also understands that Health Canada is in the final phase of its review of 7 ACRES’ application (the “Application“) for the authorization to sell bulk cannabis. The Application was submitted in November 2016 followed by a site inspection in January 2017.
In light of recent events facing the industry relating to certain licensed producer’s purported use of unapproved pesticides, Health Canada has increased its focus on the cultivation methods and cultivation inputs used by all licensed producers not only with respect to pesticides but also nutrients and fertilizers. Supreme has always been transparent with Health Canada regarding its cultivation methods and the use of cannabis-specific nutrients (collectively the “Nutrients“), recording all such use in its Standard Operating Procedures (“SOPs“) which are subject to ongoing audit by Health Canada. The Nutrients used by 7 ACRES are a specialty brand of cannabis-specific fertilizers developed and manufactured in Maple Ridge, BC by Remo Brands Ltd. As part of the ongoing review process, Health Canada has asked Supreme to work with Remo Brands Ltd. to provide reasonable data that the Nutrients comply with all relevant safety guidelines and applicable law.
“Supreme is committed to patient safety and the quality of our cannabis,” stated John Fowler, CEO. “We agree with and support Health Canada’s increased rigor and its precautionary efforts relating to the Nutrients as well as the regulator’s increased vigilance of our fledgling industry which we see as positive for our sector’s growth.”