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Supreme Cannabis Company Inc (The)
Symbol FIRE
Shares Issued 354,332,704
Close 2019-12-20 C$ 0.65
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FP/wire say Supreme Cannabis sees Lesotho growing

2019-12-23 09:42 ET - In the News

Also In the News (C-APHA) Aphria Inc
Also In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Monday edition that Kekeletso Lekaota spends her work days nurturing rows of cannabis plants for harvest. A Bloomberg dispatch to the Post says that it is a crop that Ms. Lekaota had no experience with 18 months ago, when she saw an advertisement for a grower in her local newspaper. Now, the 27-year-old trains others how to cultivate the plants for MG Health, a supplier of pharmaceutical-grade cannabis products, at a farm and oil-extraction facility in Lesotho, the tiny, mountainous kingdom bordered on all sides by South Africa. Foreign investors including Canadian companies Supreme Cannabis, Canopy Growth and Aphria have since poured tens of millions of dollars into a handful of facilities, drawn by the low cost of production. MG Health, Lesotho's biggest commercial producer, received $10-million from Supreme Cannabis last year in exchange for 10 per cent of the business then known as Medigrow Lesotho Supreme has said that it eventually wants to export medical cannabis oils from Lesotho to Canada. MG Health plans to employ as many as 3,000 workers locally -- up from about 350 currently -- once it reaches full production in a few years. The company's primary market is South Africa.

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