Tiverton based 7ACRES, has a supply agreement with the Ontario Cannabis Store ("OCS") to supply cannabis for online sales when the recreational market launches on October 17, 2018.
Under the agreement, 7ACRES will also supply recreational cannabis to Ontario's private retailers when the retail framework is approved and implemented by the province.
The supply agreement is for a 24-month period with renewal options.
The company expects to have an annual production capacity of 50,000 kg once the 7ACRES facility is fully operational. In all provincial supply agreements secured to date (British Columbia, Alberta, and Manitoba), 7ACRES products have been listed at the highest brand category.
"With Ontario expected to be the largest recreational cannabis market in the nation, this supply agreement is a major milestone for our Company," said John Fowler, CEO of Supreme Cannabis. "We anticipate the full 7ACRES lineup will be placed in the premium category by the OCS validating the quality of our product offerings and our strategy of catering to discerning cannabis enthusiasts who, by the Ontario government's own estimation, will drive the majority of recreational sales."
