One cannabis penny stocks company released its fiscal year and Q4 results this morning.
Supreme Cannabis Company (TSXV:FIRE) (OTCQX:SPRWF) is on our radar; it announced record 2018 results which place it ahead of the pack. It also has a state-of-the-art facility nearing completion, making it more than prepared for further greatness in 2019.
Let’s take a look at this cannabis penny stocks company to see why it might excite investors.
Cannabis Penny Stocks: Supreme Cannabis Company
Supreme Cannabis is a Canada-based publicly-traded company. The company’s flagship brand, 7ACRES, focuses on cultivating high-quality cannabis.
In the company’s own words:
“We are committed to providing you with a High-End Cannabis experience, through the creation of better cannabis flower. We promise to drive the industry forward by constantly improving our techniques and practices.”
7ACRES Facilities and Potential
Operating out of Ontario, 7ACRES is a federally licensed cannabis producer.
Thus far 7ACRES has experienced a successful year, not only in sales, but by securing provincial supply agreements for BC, Manitoba, Prince Edward Island, Newfoundland, Alberta, and Ontario. This means the brand will be available coast to coast across Canada when legalization arrives October 17th. As a result, FIRE penny stocks show a lot of potential.
It will soon boast a 342,000-square-foot facility as construction on this site nears completion. Once finished, 7ACRES is poised to become one of Canada’s leading premium cannabis brands, as it will produce an estimated 50,000 kg of cannabis output yearly.
Supreme Cannabis Record Q4 Results
It’s a little surprising that FIRE stock was down at the close on Friday. Shares rested at $2.16 after reaching the day’s high of $2.20 just one hour previously.
However, the company starts a new week with astounding Q4 results, and I wonder if we will see a spike in share price when investors hear the good results.
Supreme Cannabis reported the highest revenue for any Canadian cannabis producer in 2018. A massive $8.85 million. The company saw its sales grow exponentially over the year, with a record sales quarter with 71% quarter-over-quarter growth.
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“Over the past twelve months, Supreme Cannabis executed on its plan to deliver strong financial growth, build proprietary value around regulated cultivation at scale, establish coast to coast distribution in recreational markets and make inroads into the international medical cannabis market with a strategic investment,” said Navdeep Dhaliwal, CEO of Supreme Cannabis.
This is a cannabis penny stocks company ahead of the pack. It is a leader in fiscal year revenue and will have coast to coast availability for consumers. Let’s see what happens with FIRE stock this week.
Featured Image: Depositphotos/© Jirsak
