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- Letter of intent is the first step to obtain a cannabis production license in Malta.
- Malta is strategically located to serve export markets throughout Europe.
TORONTO, March 11, 2019 /CNW/ – The Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced that the Company has signed a letter of intent with Malta Enterprises, the economic development agency of Malta.
The LOI is the first step of Supreme Cannabis’ application for a Cannabis Production License (the “License”) in Malta. Such License would allow the Company to produce and process cannabis for medical use within Malta, one of Europe’s principal commercial entry points, and to export cannabis for medical use to certain international markets. If approved, Supreme Cannabis intends to produce products containing EU GMP quality cannabis oil and pursue regulated medical cannabis distribution opportunities in the European Union.
“We’re pleased to announce that we have secured a letter of intent from Malta Enterprises, taking another step forward in our global growth strategy. Malta is not only a strategic hub for Europe, it is also home to robust existing pharmaceutical and nutraceutical manufacturing industries with a deep pool of expertise,” said Navdeep Dhaliwal, CEO of The Supreme Cannabis Company. “Using the intellectual property and expertise we’ve gained in Canada, we intend to deliver high-quality cannabis products to medical patients in multiple international markets.”