FIRE Stock Soars 13% as Supreme Cannabis Acquires Truverra
FIRE stock is a notable cannabis stock gainer in Wednesday's trading session after The Supreme Cannabis Company (TSX:FIRE) (OTCQX:SPRWF) announced its acquisition of privately-held Truverra Inc.
Solid Boost for FIRE Stock
In a new development, Canada-based marijuana company Supreme Cannabis has announced that it has enacted an agreement to acquire Truverra Inc. Supreme will buy all the outstanding as well as existing issued shares of Truverra that will help in creating a three-way merger. The entities involved in that merger are going to be Supreme, Truverra, and The Transaction, which is a wholly-owned subsidiary of Supreme. With the acquisition of Truverra, Supreme will get its hands on its two subsidiaries: Canadian Clinical Cannabinoids Inc and Truverra Europe B. V. As the names of the Truverra subsidiaries suggest, the first one is involved in the Canadian market while the other one is involved in the European market.
It is a highly strategic acquisition for The Supreme Cannabis Company and has the potential to significantly boost its operations within a short span of time. The facilities that belong to Canadian Clinical Cannabinoids Inc are going to be turned into sites at which Supreme is going to engage in producing cannabis extracts of the highest quality. The company also plans to produce vaping liquids as well as concentrates at the said facility.
SPRWF stock is currently selling for $1.20 USD, up over 12% on the day. On the Canadian side, FIRE stock is up over 13% at $1.56 CAD.
Truverra Europe is involved in selling hemp CBD products in different parts of Europe, and it will allow Supreme to expand into new territory altogether. The whole process is expected to be completed by August 30.
Tie Up With Wiz Khalifa
Supreme Cannabis has been in the news recently after having tied up with rapper Wiz Khalifa’s Khalifa Kush Enterprises Canada and launched a premium line of CBD oil. The product in question is the KKE Oil, which is the first product from the stable of KKE brands to enter the Canadian market. Considering the fact that such a launch could end up being a highly successful one in the coming months, it is only natural that the profile of the cannabis collaborator is also going to rise. It could prove to be a highly important collaboration for Supreme.
What do you think of FIRE stock after Supreme's acquisition? Share your thoughts.
FIRE stock is trading sharply lower in Monday’s trading session despite The Supreme Cannabis Company (TSX:FIRE) (OTCQX:SPRWF) announcing that its wholly-owned subsidiary, Blissco, has launched a new full-spectrum CBD oil, called Pūr Dew.
Over the weekend, shares of the Supreme Cannabis Co. (TSX:FIRE)(OTCQX:SPRWF) skyrocketed off the back of the company’s Q3 results. FIRE stock has corrected since; currently selling for $1.98 on the TSX. …
TORONTO, March 7, 2019 /CNW/ – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX:FIRE) (OTCQX:SPRWF) (FRA: 53S1), today announced the strengthening of its board of directors (the “Board”) with the appointment of …
EDMONTON, AB, June 29, 2020 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced …
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on my research and understanding of the sector.
2) The Supreme Cannabis Company (“Supreme”) indirectly engaged Market Jar Media Inc. to issue this Article. Supreme engage MEPS Marketing (“MEPS”) as lead agency. MEPS engaged Native Ads Inc., who then engaged Market Jar. Market Jar Media Inc. has or expects to receive the following amounts from Native Ads Inc.: eighty seven thousand Canadian dollars for 19 campaign days (15 business days). In addition, Market Jar was re-engaged by Native Ads for a period of 367 campaign days (252 business days) in the amount of one hundred fifty two thousand Canadian dollars.
3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.
5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.
6) To the knowledge of Market Jar Media Inc., certain affiliates of MEPS own shares in the capital of Supreme. As Market Jar Media Inc. is not an affiliate of MEPS, it is unaware of whether MEPS will hold these shares in a long or short position.