The Supreme Cannabis Company (FIRE.T) and Khalifa Kush Enterprises Canada unveiled their first product, KKE Oil today, but don’t tell anyone, okay? We wouldn’t want to piss off the government.
We started writing about Supreme’s relationship with Wiz Khalifa back in December.
No excitement, no glamour, no fun: The Federal government’s rules on cannabis advertising are embarrassing for companies like Supreme.
More on that later.
KKE Oil is a high THC oil with precise dosing, and one of the first ever recreational-focused cannabis oils available to consumers in Canada.
Canada is the first country out of the U.S. to sell KKE products. They’re expected to land in British Columbia and Ontario stores by the end of the week, Alberta in early July and other provinces throughout the year. KKE Oils are the first release in the partnership between Supreme Cannabis and KKE.
Khalifa Kush is the cannabis brand of American hip-hop artist, Wiz Khalifa. If you bought some KKE Oil or another type of his non-branded product in Canada, you wouldn’t know that unless you had the internet at home or on your phone. Or watched television. And had an interest in cannabis or hip hop. Or read Equity.Guru.
Khalifa selected Supreme subsidiary 7ACRES’ Sensi Star strain to debut the line.
Supreme can’t actually advertise using his likeness or get him to publicly endorse his own product, because that would be against the rules. But say—what if it were done over the internet? The government has something for that, and it’s what we’ve come to expect from our elected pearl clutchers in Ottawa.
“Communicated by means of a telecommunication, where the person responsible for the content of the promotion has taken reasonable steps to ensure that the promotion cannot be accessed by a young person,”
Reasonable steps? What the hell does that even mean?
Despite the regulatory ridiculousness, Wiz Khalifa is still fired up about doing business up here:
“I’m excited to bring our first products to Canada and launch KKE Oils. They are an awesome, high-in-THC product that everyone will love. This is a legendary moment that will be followed by many more game changing releases KKE will launch with Supreme Cannabis over the next year,” Khalifa said.
Canadian regulations on weed marketing ban mass advertising, sponsorship, contests, endorsements and promotions that associate cannabis with attractive lifestyles. It’s a holdover from tobacco regulations, which came into effect because tobacco companies are (frequently) evil and in need of punishment.
Cannabis companies? Not so much.
Still, companies will find ways to take advantage of loopholes in bullshit regulations, and maybe we should applaud that when it’s not hurting anyone.
Supreme’s stock price has remained stable at $1.52.
They have 293,774,704 shares issued and outstanding and a market cap of $446.5 Million.
—Joseph Morton
Full Disclosure: Supreme Cannabis is an Equity.Guru marketing client.
