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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index lost 15.69 points to 568.13 Wednesday. The Supreme Cannabis Company Inc. (FIRE: $1.35) said yesterday that it is expecting net fiscal fourth quarter revenue (for the period ending June 30, 2019) to be $19-million, compared with revenue of $9.9-million in fiscal Q3. After Supreme announced its revenue expectation for Q4, its stock soared 20 cents to $1.44 on 4.43 million shares. The company did not say exactly where the increased figure comes from, but it derives most of its revenue from its main operating subsidiary, 7acres. The subsidiary has a 440,000-square-foot indoor hybrid facility, where it says it can grow premium cannabis. Through 7Acres, Supreme secured a supply deal in which 7Acres will create cannabis oil pods for Pax Labs' Pax Era vaporizer. The vape is a similarly slick device to Pax Labs' popular Juul vape. According to the Winstem-Salem Journal, Juul had a 75.8-per-cent market share in the United States nicotine vape market last year. While the deal makes for easily promotable news, it is far from exclusive to Supreme. Pax Labs made supply deals with four fairly prominent Canadian companies: Supreme, Aphria Inc. (APHA: $8.52), Aurora Cannabis Inc. (ACB: $8.10) and Organigram Holdings Inc. (OGI: $7.17). Supreme was the only company chosen by Pax Labs with a market cap of under $1-billion (its market cap is just under $500-million as of today).

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