Supreme Cannabis Announces Financial Results for Q4 and Full-year 2020

Established a platform for strong revenue growth and operational efficiency with a strengthened balance sheet

2020 Fourth Quarter Highlights:

• Increased recreational sales net revenue by 27% quarter-over-quarter and 373% year-over-year, supported by brand expansion and the introduction of Cannabis 2.0 products
• 36 active retail SKUs listed, with presence in all 10 provinces
• Completed the first and second shipments of medical cannabis to Israel through its Truverra brand
• Right-sized operations delivering immediate cost savings, reducing quarter-over-quarter operating expenses (after restructuring) by 9% and 65% year over year
• Maintains a strong liquidity position including a cash balance of $28.4 million

Subsequent to Quarter End

• Strengthened the balance sheet through the partial conversion of its convertible debentures at a premium to the market price of the Company’s common shares and through the extension of the maturity on the remaining principal amount
• Amended its senior secured…