HomeMy WebLinkAboutThe Lucknow Sentinel, 2016-09-07, Page 4Supreme Pharmaceuticals
looking to make 7 ACRES world's
largest producing med pot facility
CONTINUED FROM > PAGE 10
Supreme Pharmaceuticals
CEO John Fowler said the
harvest came nearly three
years to the day since 7
ACRES, formerly Advanced
Medical Marihuana Canada
(AMMCan), set out to refur-
bish the existing
340,000 -square -foot Bruce
Energy Centre Greenhouse
property as a subsidiary
owned by Supreme
Pharmaceutical.
"The first harvest is a mile-
stone event for Supreme and
7 ACRES, and everyone in
Kincardine and Bruce
County that was behind us,
said Fowler.
From a capital market per-
spective, Fowler said, the
company has been doing
"very well" both in terms of
stock price and manage-
ment's ability to raise capital
to fund the 80,000 -square -
foot, multi -million -dollar
expansion of the
greenhouse's Phase 1 grow-
ing space.
"When Phase 1 is com-
plete, we expect to be pro-
ducing a capacity of 10,000
kilograms per year, which
will cement our position as
one of the world's leading
cultivators of legal cannabis,"
Fowler said, who added they
have had international inter-
est in their business but their
focus is within Canadian
borders.
"Our focus is on one thing,
building out the entire
greenhouse in preparation
for recreational sales, as well
as the growth of the medical
marihuana market here in
Canada," he said.
Fowler said their goal for
the 310,000 -square -feet of
grow space is to produce
between 50,000 and 100,000
kilograms per year. Their
most recent competitor's
50,000 -kilogram goal will
require 1 -million -square -
feet of space.
"So we are three to six
times more efficient per
square foot," he said.
The efficiency comes from
the greenhouse's `hybrid'
design that allows for the
benefits of growing indoors
but also uses a combination
of grow lights and natural
light.
Fowler commended the
staff and management at the
Kincardine facility as well,
for making it happen in a
way that has allowed the
company to move forward
swiftly.
"The team has done a
great job of transitioning into
production, of professional-
izing the business and of act-
ing in a manner becoming of
a much more mature busi-
ness," he said. "It's just fan-
tastic what they've achieved,
not just the output of the first
crop, but the level of compli-
ance and innovation and
improvement we've had,
even over our first half-year
Wednesday, September 7, 2016 • Lucknow Sentinel 11
A mature cannabis plant bud.
of cultivation. In addition,
more than half the staff and
the senior management
team have invested their
own money into the current
private placement so they
can own a piece of what
we're all building together."
Fowler said the most
recently private investment
numbers represent a
$500,000 investment from
Troy Patterson/Editor
their staff, as well as nearly
$2 million from across Bruce
County.
"It's truly a local busi-
ness... proudly rooted in Kin-
cardine," he said.
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