Supreme Cannabis Announces Exclusive Partnership with PAX Labs
- Supreme Cannabis becomes one of only four initial supply partners for the PAX Era.
- 7ACRES-branded vaporizer oil will be sold exclusively in Era-compatible pods.
- Partnership will accelerate Supreme Cannabis' growth into the anticipated vaporizer market.
TORONTO, June 7, 2019 /PRNewswire/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), today announced it has entered into an agreement with Pax Labs, Inc. ("PAX"), to become a foundational brand partner and supplier for the PAX Era in Canada, pending the federal legalization of the vaporizable products.
PAX and Supreme Cannabis come together to enter Canada's attractive vaporizer market with two of the most proven brands in their respective categories. Through this partnership, Supreme Cannabis' wholly-owned subsidiary, 7ACRES, becomes one of only four licensed producers chosen as initial partners to create cannabis oil pods for the PAX Era. PAX is a market leader with over 1.5 million devices sold worldwide and an established reputation as the best-selling pen-and-pod system in the U.S. Supreme Cannabis' partnership with PAX will accelerate the growth of the Company's vaporizable product category, where Supreme Cannabis' proven brand-building ability and high-quality flower offer a distinct market advantage.
"Supreme Cannabis is excited to be partnering with PAX to provide consumers with the ultimate vaporizing experience. Together, we expect to deliver 7ACRES' multi-award winning flower extracted into oils exclusively for use in North America's best-selling premium vaporizer, the PAX Era," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "7ACRES has established itself as the leading Canadian brand for high-end cannabis flower at scale, and as we extend our brand into newly available product categories, we are committed to maintaining the same level of quality our discerning consumer has come to expect. As our brand portfolio grows, we look forward to working with PAX to deliver additional premium brand experiences onto the PAX Era platform."
Under the terms of the agreement, 7ACRES-branded vaporizer oil will be sold exclusively in Era-compatible pods. Supreme Cannabis may also create pods for the Pax Era under different brands. The Company anticipates selling 7ACRES-branded Era Pods coast-to-coast in every jurisdiction where Supreme Cannabis has provincial supply agreements.
In addition to PAX's agreement with Supreme Cannabis, PAX also signed supply agreements with Aurora Cannabis Inc. (NYSE: ACB), Aphria Inc. (TSX: APHA) (NYSE: APHA), (TSX: ACB), and Organigram Holdings Inc. (NASDAQ: OGI).
About Supreme Cannabis
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 Cannabis 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.
We simply grow better.
About PAX Labs
PAX is a leader in the design and development of premium app-controlled vaporization technologies and devices. Headquartered in San Francisco, PAX has revolutionized the consumer experience through innovation and product design, and is committed to taking the guesswork out of cannabis with products that offer quality, transparency and predictability. PAX has sold more than 500,000 Era devices for oil concentrates and over one million devices in the flower vaporizer category. PAX is committed to its mission: establishing cannabis as a force for good. For more information, please visit paxvapor.com.
PAX Labs does not manufacture, produce or sell cannabis.
Forward-Looking Information.
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. 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.
SOURCE The Supreme Cannabis Company, Inc.
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