Supreme Cannabis (FIRE.T) gets its cannabis shipment to Israel, and gives update on COVID-19

04/02/2020

The Supreme Cannabis Company (FIRE.T) completed its first international cannabis shipment from Canada into Israel today.

They accomplished this because of their newly constituted partnership with Breath of Life International (BOL Pharma), which is Israel’s largest producer of medical cannabis and cannabis related products, which also allows them to offer Truvera-branded premium medical cannabis to Israeli patients.

“With the support of BOL Pharma, we navigated both Canada and Israel’s complex regulatory landscapes to achieve compliance with regulatory authorities in both countries, including Health Canada, the Canadian Food Inspection Agency and Israel’s Ministry of Health and Ministry of Agriculture and Rural Development. We benefited from BOL Pharma’s skilled team, international experience and solidified position as a leading medical cannabis company in Israel. As we pursue capital-light international opportunities, we will continue to look to Jeff Adams, Truverra’s CEO, and his exceptional team to build Truverra’s medical brand globally,” said Colin Moore, interim president and CEO of Supreme Cannabis.

BOL Pharma has been neck deep in research and development of cannabis-based products for 13 years. It’s the largest medical cannabis company in Israel, and the only one to handle all the stages of cultivation and production, and they’re expects at handling the strict standards enforced by the Israeli Ministry of Health as well as the good manufacturing practice standards set by the European Union (EU-GMP). At present, BOL Pharma is distributing Truverra’s medical cannabis in 10-gram containers to its network of pharmacies across Israel.

Truverra grows their cannabis out of Supreme’s 440,000 square foot premium indoor hybrid cultivation facility in Kincardine, Ontario. Truverra’s branded medical cannabis is grown specifically for the Israeli market, and Supreme continues to operate in the EU and UK through truverra.com, Truverra’s CBD e-commerce business.

“We are pleased to address the growing demand for premium indoor grown medical cannabis product in Israel through our first cannabis import from Canada. Supreme Cannabis is a partner that shares our high standards for quality and respect for patients and consumers. On March 30, Truverra products became available across pharmacies in Israel and we are already receiving positive feedback from patients. We look forward to continuing to work with Supreme Cannabis and to offering Truverra’s premium medical cannabis to patients in Israel,” said Dr. Tamir Gedo, CEO of BOL Pharma.

The obligatory COVID-19 Update

The measure of a company can be found in how well they treat their workers, and everything we’ve seen in all the various years of covering Supreme, unfortunate layoffs aside, suggests that this is one hell of a company to work for.

When a company spouts off something about their employees being their top priority, nine times out of ten it’s full of shit. Most companies don’t care about their employees. But from day one with Supreme, it’s evident that they do. Now during the COVID-19 pandemic Supreme is offering their front-line employees temporary recognition pay for their hard work. Do you think Amazon is doing that? No.

The cannabis industry has been designated an essential service, including production, cultivation and retail. Supreme has continued to work to mitigate risk and manage disruption in their operations during this time by instituting remote work whenever possible and increasing precautions at their facilities including shift sizes, separation between shifts, and additional sterilization procedures.

“As an essential business in Ontario and other Canadian provinces, Supreme Cannabis has the privilege to continue to produce products for our consumers, to provide income opportunities to our employees and to continue to support the communities we operate in,” said Moore.

As for disruptions. Sure. The company has had some minor external business disruptions because of the virus, including issues with suppliers and third-party testing delays, which have pushed launch dates for 7ACRES’ whole flower pre-rolls and PAX pods. That’s going to happen. There are going to be some delays. That’s unavoidable. It should almost be expected.

But the products will get through and business will resume.

—Joseph Morton

Full disclosure: The Supreme Cannabis Company is an equity.guru marketing client.

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