Supreme Cannabis Expands International Shipments To Australia, Minimal Details Provided

Supreme Cannabis (TSX: FIRE) this morning proudly announced that it has completed its first shipment of medical cannabis to Australia, as well as its fourth shipment of medical cannabis to Israel. The problem however, is that the company still has yet to provide any sufficient details in terms of shipment sizes.

The shipment of product to Australia is a first for the company, with the transaction consisting of private label product being sold in 10-gram containers that will be distributed to patients across the country. No details in terms of shipment size or dollar value were provided within the news release.

The company also announced that its fourth shipment of product under its partnership with Breath of Life International was conducted at the tail end of 2020, with the latest shipment reportedly the largest such shipment to date. Strains included under the transaction were reportedly Jean Guy and Sensi Star, which are to be sold under the Truverra label.

It’s unclear however how much significance these international shipments have on the firms balance sheet. Currently, the company aggregates both wholesale and international products sales under the same segment within its financial reporting, with the segment posting a decline on a year over year basis in the last set of financial results released by the company. Last quarter, net wholesale and international dried cannabis sales amounted to $4.4 million, as compared to $6.2 million in the year-ago period, with average selling prices per gram said to be lower year over year with no further details provided.

The Supreme Cannabis Company last traded at $0.18 on the TSX.

Information for this analysis was found via Sedar and Supreme Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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