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“Supreme Cannabis is the best positioned company in the cannabis space to help Blissco achieve its ambition of delivering innovative, quality assured full-spectrum cannabis products to the world,” said Damian Kettlewell, CEO of Blissco. “By merging with Supreme Cannabis, Blissco shareholders will benefit from the combined expertise of both companies in growing premium cannabis brands, producing and procuring high-quality inputs, commercializing new products, and ensuring regulatory compliance. Blissco shareholders will also benefit from Supreme Cannabis’ enhanced trading liquidity on the TSX and greater access to capital that will allow us to focus and accelerate Blissco’s premium wellness business.”

“Blissco has built a distinct and authentic premium wellness brand. Through our strategic partnership and prior investment in the company, we developed a deep understanding of the business and a high level of confidence in the senior management team. This transaction will allow Blissco to focus its business around the production and commercialization of cannabis oils and topicals for the premium wellness consumer,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “Blissco shares our vision, mission, and values. Through this transaction, we will combine best-in-class processes, commercialization, marketing and brand building expertise, and skilled management, ensuring we continue to achieve our vision to improve global well-being with cannabis.”

Transaction Highlights.

Share-based offer to enable upside participation.
Under the terms of the Arrangement Agreement, Supreme Cannabis will acquire all of the issued and outstanding Blissco Shares not already owned by Supreme Cannabis, representing a total value of approximately $48 million. Each Blissco Share will be exchanged for 0.24 of a common share of Supreme Cannabis (the “Supreme Cannabis Shares”). Shareholders of both companies will benefit from the combined companies’ expanded product offerings, infrastructure and consumer reach. Through the acquisition, Blissco will join Supreme Cannabis’ exclusive portfolio of premium brands and operate as Supreme Cannabis’ health and wellness business.

Expands Canada’s only premium-focused brand portfolio.
Blissco’s established premium wellness brand provides a platform from which the combined company will launch new products for this growing consumer segment. Through the acquisition of Blissco, Supreme Cannabis cements its position as Canada’s only premium cannabis company producing at scale.

Provides advanced extraction capabilities.
Based in Langley, BC, Blissco operates a 18,000 square foot production facility with advanced extraction capabilities. Blissco has completed phase 1 of construction of its state-of-the-art cannabis oil extraction lab. Blissco has been producing cannabis oils since receiving its production license in August 2018.

United and committed leadership team.
Upon closing the Arrangement, Blissco’s CEO, Damian Kettlewell will continue to lead Blissco while benefiting from Supreme Cannabis’ expertise, infrastructure and access to capital. Mr. Kettlewell has committed to remaining employed at Supreme Cannabis as well as retaining at least 75% of his shares for a minimum of two years.

Board Approvals.
The Arrangement was unanimously approved by both companies’ boards of directors, and by a special committee of independent directors of Blissco (the “Special Committee”). Deloitte LLP (“Deloitte”) acted as an independent financial advisor to the Special Committee and has provided a verbal opinion to the Special Committee that, as of the date of such opinion, and subject to the assumptions, limitations and qualifications on which such opinion is based, the consideration to be received by Blissco shareholders pursuant to the Arrangement is fair, from a financial point of view, to such shareholders, other than Supreme Cannabis. The board of directors of Blissco unanimously recommends that Blissco shareholders vote in favour of the resolution to approve the Arrangement.

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 common shares trade under the symbol FIRE on the Toronto Stock Exchange (FIRE.TO), SPRWF on the OTC Exchange in the United States (SPRWF) and 53S1 on the Frankfurt Stock Exchange (53S1.F). Follow us on Instagram, Twitter, Facebook and YouTube.
We simply grow better.

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 and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. 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.

Supreme Cannabis Announces April Speaking Engagements

The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (FIRE.TO) (SPRWF) (53S1.F) is pleased to announce the Company’s participation at select capital markets conferences in April.

GMP Securities’ Cannabis Conference, Toronto, ON

April 16, 2019 : Navdeep Dhaliwal , Chief Executive Officer, to present to investors and attend 1-on-1 meetings.

Benzinga’s Cannabis Capital Conference, Toronto, ON

April 17, 2019 : Scott Walters , VP Corporate Development, to participate in a panel discussion: “LPs Navigate the Quickly-Changing Canadian Market”

April 18, 2019 : Steve Chan , VP Investor Relations & Corporate Communications, to present to investors.

Jefferies’ Cannabis Summit, New York, NY

April 17, 2019 : Navdeep Dhaliwal , Chief Executive Officer, to attend 1-on-1 meetings.

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; Medigrow Lesotho, a cannabis oil producer located in southern Africa ; and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada.

Supreme trades as FIRE on the Toronto Stock Exchange (FIRE.TO), SPRWF on the OTC Exchange in the United States (SPRWF) and 53S1 on the Frankfurt Stock Exchange (53S1.F). Follow us on Instagram, Twitter, Facebook and YouTube.

We simply grow better.

SOURCE The Supreme Cannabis Company, Inc.