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Supreme Pharmaceuticals Inc makes first MMPR revenue

Supreme provided the group with six strains for production and future sale to the producer's registered clients.

A high-tech growing facility.
“The genetics business diversifies our revenue while remaining committed to supporting the aggregate growth of the legal cannabis industry in Canada," Fowler has said.

Supreme Pharmaceuticals Inc (CSE:SL) has made its first MMPR (marijuana for medical purposes regulations) revenue, it told investors.

The Canada-listed group has completed its first sale of cannabis genetics to another Canadian licensed producer (LP), it told investors.

Supreme provided the group with six strains for production and future sale to the producer's registered clients.

Supreme chief executive John Fowler said: "We believe strongly in the importance of good genetics to produce medical cannabis that is high quality, desirable in the marketplace and economical for the producer.

"I am very proud of my team for identifying and executing on this revenue opportunity, well in advance of obtaining our sales licence for dried marijuana."

In May, the group announced the start of its business-to-business sales model by entering into letters of intent for the sale of dried marijuana to five fully licensed Canadian licensed producers and this marks the commencement of the second leg of the group's business.

“The genetics business diversifies our revenue while remaining committed to supporting the aggregate growth of the legal cannabis industry in Canada," Fowler has said.

It's been a busy week for the firm, having raised C$3.62mln from a share and a warrant issue to expand its Kincardine greenhouse facility after strong demand  for its medical-use marijuana.

Quick facts: Supreme Pharmaceuticals

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CSE:SL
Market: CSE
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