The past two sessions have featured an interesting pullback in shares of Supreme Cannabis Company Inc (OTCMKTS:SPRWF). This has been one of the most notable comeback stories in the Canadian cannabis patch thus far in 2018, with the stock as much as doubling since late December on strong volume. We have been fans of the story over that time, would suggest traders and investors keeping a close eye on the action in case we see a confluence support test of both the 50-day and 200-day moving averages, which could align in the $1.35 area if the stock dips a little bit further.

To make matters more interesting, the company just announced that its wholly owned subsidiary, 7ACRES, has entered into a supply agreement with the New Brunswick Liquor Corporation to supply recreational cannabis to its retail stores and has been registered as a supplier in the province of Saskatchewan. According to the release, Saskatchewan and New Brunswick become 7ACRES’ seventh and eighth provincial partners alongside British Columbia, Alberta, Manitoba, Ontario, Nova Scotia and PEI.

Supreme Cannabis Company Inc (OTCMKTS:SPRWF) trumpets itself as a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people, and uniquely innovative culture. The Company’s portfolio includes its wholly-owned subsidiary and flagship brand 7ACRES.

7ACRES is a federally licensed producer of medical cannabis operating inside a 342,000-square-foot facility in Kincardine, Ontario. 7ACRES is dedicated to providing consumers with a premium-quality product that recognizes its customers are informed, discerning and value a brand and culture that aligns with their principles. 7ACRES brand success has been reflected in provincial supply agreements, where 7ACRES’ product is consistently listed in the highest brand category available to recreational consumers.

The Company’s growing portfolio also includes an equity investment and long-term global distribution partnership with Lesotho-based Medigrow for the exporting of medical-grade cannabis oil.

According to company materials, “the company focuses on the production and sale of medical marijuana in Canada. The company was formerly known as Supreme Resources Ltd. and changed its name to Supreme Pharmaceuticals Inc. in February 2014. Supreme Pharmaceuticals Inc. was incorporated in 1979 and is headquartered in Vancouver, Canada. The Supreme Cannabis Company has consistently set the standard for innovation in the sector, including the design of growing facilities and development of operational excellence metrics. We are confident that together with our flagship brand, proprietary technology and products, truly unique culture, and industry-leading team, we will deliver consistent long-term value creation to our shareholders.”

As noted above, SPRWF just announced that its wholly-owned subsidiary, 7ACRES, has entered into a supply agreement with the New Brunswick Liquor Corporation to supply recreational cannabis to its retail stores and has been registered as a supplier in the province of Saskatchewan.

Recent action has seen 10% tacked on to share pricing for the stock in the past month. Moreover, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 82% above the average volume levels in play in this stock over the longer term.

“We’re excited to announce that 7ACRES-branded products will be available for adult-use in eight Canadian provinces coast-to-coast,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “In a short amount of time, 7ACRES has won multiple awards and received overwhelmingly enthusiastic consumer feedback. Our Company has made it a priority to expand 7ACRES’ domestic distribution so that more Canadians will be able to experience our High-End CannabisTM products.”