Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) on Thursday commented on South Africa’s Department of Health removing Cannabidiol (“CBD”) from the country’s Schedule 7 list of highly controlled drugs. This move allows the legal sale of CBD products made in accordance with the government’s specified preparations. Medigrow Lesotho, the company’s international medical cannabis oil partner, is licensed by the Lesotho Ministry of Health to cultivate and manufacture medical cannabis and cannabis oil products in the Kingdom of Lesotho, a jurisdiction located within Southern Africa. Through its preferential global distribution agreement with Medigrow, Supreme Cannabis will be exploring opportunities to serve South Africa’s CBD market. “This meaningful change to South Africa’s legislation creates immense opportunity for Medigrow to manufacture and supply high-quality CBD oil to a neighboring jurisdiction,” Supreme Cannabis CEO Navdeep Dhaliwal stated in the news release. “We are pleased to see countries like South Africa adopting thoughtful changes to policy and implementing well-regulated systems with the potential to improve public health and wellness.”
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About Supreme Cannabis
The Supreme Cannabis Company is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the company has emerged as one of the world’s fastest-growing, premium plant driven-lifestyle companies by effectively deploying capital, with an emphasis on disciplined growth and high-quality products. Supreme Cannabis’ portfolio includes 7ACRES, its wholly owned subsidiary and multi-award-winning brand; Cambium Plant Sciences, a plant-genetics and cultivation IP company; Medigrow Lesotho, a cannabis-oil producer located in southern Africa; and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada. For more information, visit the company’s website at www.Supreme.ca.
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