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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) Posts Robust Revenues in Q1 2020: Secures Credit Facility Of $90 Million From Bank Of Montreal

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Supreme Cannabis Company Inc (OTCMKTS:SPRWF) has posted robust revenues of $11.4 million in Q1 2020, an increase of 122% when compared to the same period last year. Its subsidiary 7Acres contributed $10.5 million to the total revenues of Supreme. The consumer-facing brands are in high demand. However, its revenues declined from the previous quarter on account of reduced demand and pricing in the wholesale market, and mechanical failure in the grow rooms of 1, 2, and 3 at 7Acres.

Prepares for future quarters

Supreme is preparing for robust performance in the future quarters. It holds back the products from wholesale channels and plans to ramp up quality products that serve as inputs for the flower convenience products, and the products derived from cannabis that comprise vaporizer oils, CBD oils, and pre-rolled joints. The company is transforming 7Acres for recreational needs and improves packaging capacity at this facility.

Secures a credit facility of $90 million

Supreme is one of the few companies to secure a credit facility of $90 million that includes $20 million revolving credit and a $70 million term loan from the Bank of Montreal, which acts as the leading financier for the group of lenders. It indicates the strengths of management, operations, and business at Supreme to deliver robust results going forward.

Construction at 7Acres

The construction at 7Acres facility reached a pivotal point by the end of Q1 2020. It has completed the two-story administrative, central processing, and laboratory spaces in October 2019 and thus adding an operational space of 48,900 Sq. Ft. The company will get the license for this space to accommodate growing production needs in the future.

The 7Acres facility also inaugurated an automated bottling line that can fill up to 12,000 containers (each consists of 3.5 grams) daily. It plans to inaugurate second and third bottling lines in 2020. With the completion of additional packaging facilities, 7Acres would transform completely into the premium consumer brand from the wholesale business by Q3 2020.

Completes acquisitions

Supreme completed the takeover of Truverra, and Blissco in Q1 2020. Health Canada granted a cannabis oil sales license for the 12,000 Sq. Ft. facility of Blissco after Q1 2020.

The company appointed a senior vice president. Joel Toguri would take charge of Sr. VP (commercial) and contributes over 20 years of experience in the regulatory industry.

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Project 7 Group LLC of U.S.A Agrees To Sell And Promote CBD And CBG Enriched Hemp Seeds Of Maple Leaf Green World Inc (OTCMKTS:MGWFF)

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Maple Leaf Green World Inc (OTCMKTS:MGWFF) has entered a pact with Project 7 Group LLC of USA to sell and promote its CBD and CBD enriched hemp seeds. The first-year sales target is set at $10 million (minimum). It can be renewed every year.

Welcomes Project 7 Group

Maple Leaf is pleased to welcome the team of Project 7 Group. It expects that Project 7 Group will improve global and domestic sales significantly. The privately held company – Project 7 Group operates with its offices situated in California, Washington, Nevada, New Mexico, Texas, Colorado, Arizona, and Wyoming. It specializes in hemp and cannabis financing, sourcing of seed and clone genetics, sales of raw hemp and concentrates, CBD extraction, CBD product manufacturing, and CBD product formulation. The company has a dedicated team to ensure the best project outcomes.

Receives hemp seed cultivation license

Maple Leaf received the hemp seed cultivation license on December 3, 2019, for CBD enriched hemp. It will also cultivate CBG (Cannabigerol) enriched hemp seeds. The non-psychoactive cannabinoid – CBG offers great potential to provide medical relief for the ailments that cannot be cured with CBD.

Commences greenhouse expansion in CA

Maple Leaf has commenced the Greenhouse expansion in California. It is renovating the two existing greenhouses on its 20-acre site located in Riverside County, California. The company expects to complete the renovation in mid-February 2020. It expects to commence cultivation soon.

Maple Leaf is in discussions with several overseas and North American buyers to sell its CBG enriched hemp. The company already signed a letter of intent with Lin International, which is based in Singapore last year. Maple Leaf will supply feminized hemp seeds to hemp projects in South East Asia. Lin International expects to obtain hemp cultivation licenses for its land of 500 hectares in Lao People’s Democratic Republic. It is exploring opportunities in other Southeast Asian nations.

Maple Leaf is expanding the greenhouses to an additional 1,000 Sq. Ft. to meet the growing demand for CBG enriched hemp. The company’s growing capacity will increase to 7,000 Sq. Ft. Maple Leaf also years to acquire two to four greenhouses anticipating the supply contracts.

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Neutra Corp (OTCMKTS:NTRR) Aims To Become A Vertically Integrated Producer And Distributor Of Hemp Derived CBD Health Products With Fresh Private Equity

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Neutra Corp (OTCMKTS:NTRR) is planning to support its vertical integration campaign with the fresh round of private equity. It will use the funds to become a vertically integrated producer and distributor of the hemp-derived CBD health products.

Private equity to support accomplishments in 2020

Chief Executive Officer of Neutra, Sydney Jim, said the private equity received on January 1, 2020, is a welcome sign for the company to strengthen its long term position and compete and achieve success. The company will use the funds to pursue its goals and strategies. It enjoyed successful 2019 and hopes to maintain better accomplishments in 2020 with the fresh round of private equity.

CBD offers a variety of medical benefits

The multi-purpose and natural hemp compound offers a variety of medical benefits. According to the feedback from users, it offers relief from reduced effects of seizures, anxiety, and slows down in neurodegenerative disorders. It also provides relief from pain and alleviates the side effects of certain cancer treatments. Users do not suffer from any form of addiction.

The market for hemp-derived products expects to touch $22 billion by the year 2022. It is on the backdrop of improved health benefits enjoyed by the users of CBD. The sales of CBD last year are $390 million.

Neutra gets a boost from TDA’s administrative rules

Neutra is almost closer to realize its dream of becoming a vertically integrated company because the administrative rules framed by the Texas administration regarding the production of hemp are public comments stage. On adoption of these rules, the Texas Administration (TDA) still needs to get the nod of USDA (the US Department of Agriculture) to issue licenses for growing hemp.

TDA expects to process the license applications in H1 2020. Neutra will grow its hemp on receipt of the license. The company will use the grown hemp for the production of CBD products and distribute them under one roof. Sydney said it is a big development. The demand for hemp-derived CBD products in Texas is huge. It is economical to produce hemp in the state. The company will also benefit from logistics.  Combined gives Neutra a solid footprint in the southern US.

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AeroGrow Manufacturing, A Subsidiary Of Grow Solutions Holdings Inc (OTCMKTS:GRSO), Hires EngComp Services To Provide Certified Construction Documents For $1.5 Million PO

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AeroGrow Manufacturing, a subsidiary of Grow Solutions Holdings Inc (OTCMKTS:GRSO), has announced hiring EngComp to provide certified construction documents. As per the terms of the contract, EngComp will provide certified documents for the first $1.5 million PO of the total $10.5 million PO placed by Foundation Farms. EngComp also provides building permit support and design project management services.

Certified construction documents to get building permits

The certified construction documents are necessary to help receive the building permits. AeroGrow expects to complete the planned facility by the end of this month and begin the construction. Grow Solutions is well-positioned for the repeatable design that helps to produce Pure Roots Urban Farm facilities on a large scale.

Builds three Pure Roots Urban Farm facilities in Canada

Grow Solutions is in discussions to construct three Pure Roots Urban Farm facilities this year in Canada. It is striving to establish its presence in the indoor agro/ food industry. The company will put in significant efforts in 2020 to make Pure Roots Urban Farms a household name to those that deliver beyond the organic produce.

Chief Executive Officer and President of Grow Solutions, Chad Fischl, said the company is excited to work with EngComp, which has strong ties to the community and its designs. EngComp is proven to deliver complex projects in time and within the scheduled budget. It offers specialized services in planning, cost estimation, risk analysis, and project management services. Chad said the company re-engaged EngComp to provide its vital plans to the customers.

President of EngComp, Jason Mewis, said the company is pleased to see that this project is moving to become a commercial facility. EngComp is involved in the design since its inception. The new facilities offer a solution to ensure food security.

Grow Solutions acquires Pure Roots

Grow Solutions has taken over Pure Roots Holdings Inc in 2019 via a share exchange deal. Pure Root possesses licensing rights to AeroPod Vertical indoor grow system. It entered a pact to sell its AeroPods to a firm based in B.C. the company started the design and packaging for those products. Grow Solutions is confident to move forward in 2020 with its anticipated grow markets that include indoor vertical ag-tech, plant-based diets, and cannabis, and reliable partners.

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