Supreme Cannabis Appoints New Chief Information Officer and VP of Talent

• Ash Rajendra assumes role of Chief Information Officer.
• Valerie Rother assumes role of VP, Talent.
• Supreme Cannabis' Board of Directors announce search for new independent director.

TORONTO, July 24, 2019 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced today that Ash Rajendra has joined the company as Chief Information Officer ("CIO") where he will focus on ensuring Supreme Cannabis is well prepared to execute on its next phase of growth. The Company also announced the addition of a new VP, Talent, Valerie Rother to steward the Company's human capital and talent development program.

"We are excited to welcome Mr. Rajendra and Ms. Rother to the Supreme Cannabis team. Both bring a wealth of experience and knowledge to drive the Company's next phase of growth," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "Coupled with our recreational brand, 7ACRES, and the recent addition of our wellness brand, Blissco and our anticipated acquisition of our global medical brand, Truverra, Supreme Cannabis has evolved as a global leader in premium cannabis brands and products. Our team continues to grow and evolve to meet the demands of this fast-moving industry."

Mr. Ash Rajendra is an experienced information technology and business leader who has a deep understanding of vertically integrated products, including operating within a regulated environment. Most recently, Mr. Rajendra was the CIO at Just Energy (TSE: JE), which specializes in electricity, natural gas, solar and green energy around the world and serves approximately two million residential and commercial customers. As a member of Just Energy's executive management team, Mr. Rajendra was responsible for planning and execution of the company's global IT strategy. Prior to this Mr. Rajendra served as the CIO for Nordion, the world's largest producer of medical isotopes.

Ms. Valerie Rother has over 16 years of experience in recruitment, talent management and HR business practices. In her previous role as Director of People and Culture at Wave Financial, Ms. Rother oversaw its Talent Strategy and Acquisition Team in a high-volume, fast-paced environment.

The Board of Directors of Supreme Cannabis (the "Board") in line with best practices in respect of governance and insider participation on boards of directors, has determined to increase the number of independent directors serving on the Board. As a result, the Company has accepted the resignation of Mr. John Fowler, who has served as a Director of the Company since 2014.

The Board thanks Mr. Fowler for his service and contribution as a member of the Board. Mr. Fowler will continue to play a valuable role on Supreme Cannabis' senior management team in his new role as Chief Advocacy Officer & Managing Director, Flower and Concentrates. In this role, Mr. Fowler will continue to be an advocate for the cannabis plant, the cannabis industry, the Company and each of its recreational brands.

The Board looks forward to the opportunity to appoint a new independent board member who will bring a diverse background, experience and operating knowledge to Supreme Cannabis.

About Supreme Cannabis

The Supreme Cannabis Company, Inc., 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; Blissco Cannabis Corp., a wellness cannabis brand and a multi-licensed processor and distributor based in British Columbia; Cambium Plant Sciences, a plant genetics and cultivation IP company; Medigrow Lesotho, an cannabis oil producer located in southern Africa; Supreme Heights, an investment platform focused on CBD brands in the UK and Europe and a brand partnership and licensing deal with Khalifa Kush Enterprises Canada. 

Supreme trades as FIRE on the Toronto Stock Exchange (TSX: FIRE), SPRWF on the OTC Exchange in the United States (OTCQX: SPRWF) and 53S1 on the Frankfurt Stock Exchange (FRA: 53S1). Follow us on Instagram, Twitter, Facebook and YouTube.

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Forward-Looking Information

Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to anticipated events or results including the Company's next phase of growth, the closing of the acquisition of Truverra and the role of Chief Advocacy Officer & Managing Director, Flower and Concentrates and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking statements are current as of the date they are made and are based on applicable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements as discussed in the "Risk Factors" section of the Company's Annual Information Form dated October 2, 2018 ("AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information.

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SOURCE The Supreme Cannabis Company, Inc.