Supreme Cannabis Expects to Complete 7ACRES Facility in December

An aerial view of the 7ACRES facility in Kincardine, Ontario (Supreme Cannabis)

Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) last week reported its financial and operating results for the first quarter ended September 30. In its earnings release, the company noted that it expects the 7ACRES’s cultivation facility to be completed by the end of the calendar year 2019.

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The company did not mention the exact date for the facility to fully complete the construction work. However, it noted that 7ACRES’ major infrastructure is complete and construction is expected to have a lower impact on capital expenditure in the second quarter of 2020.

Last month, the company completed construction on the facility’s two-story central processing, administrative and laboratory spaces (Center Core), adding around 48,900 sq. ft. of operational space to the facility.

In addition to completing construction on the Center Core, 7ACRES has commissioned an automated bottling line capable of filling up to 12,000 3.5-gram containers per day. The company is expected to commission a second and third automated bottling line in fiscal 2020. The additional in-house packaging capabilities will complete 7ACRES’ transition from a wholesale business to a premium consumer brand by the third quarter of 2020.

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