Sweet Citrus Spice! Supreme Cannabis’ 7ACRES Launches New Sativa Cultivar
September 10th, 2019
App, Exclusive, News, Top News
In recent years, consumers growing tired of bland beer with low-quality ingredients undergirded a craft beer movement that is still gaining steam. In fact, while overall beer volume sales dipped in 2018, craft beer sales increased 4% by volume and 7% by dollar sales, climbing to 24% of the $114.2 billion U.S. beer market.
The point is clear that consumers don’t mind digging into their wallets for better quality and an improved experience. This trend is becoming evident in the burgeoning legal cannabis industry as well and The Supreme Cannabis Company (TSX: FIRE)(OTCQX: SPRWF) is ahead of it, including launching a new high-end cannabis sativa cultivar this week, branded “Jack Haze,” through its subsidiary 7ACRES.
The Toronto-based company founded by John Fowler prides itself on differentiated consumer-driven premium products across market segments.
Fowler, named one of High Times’ 100 Most Influential People in Cannabis earlier this year, currently serves as Chief Advocacy Officer of Supreme Cannabis, in addition to Director and Vice-Chair of the Adult Use Committee at the Cannabis Counsel of Canada. In October 2018, Canada became the first G20 country to legalize recreational marijuana. The Cannabis Counsel of Canada has been instrumental in shepherding in the new industry and ensuring consumers are well represented.
The Sophisticated Consumer
When it comes right down to it, cannabis consumers may even be more discerning than beer drinkers given the broad spectrum of tastes, smells and effects that come from the plant and unique mixtures of its hundreds of cannabinoids, terpenes, flavonoids, etc. Plus, cannabis shoppers have the benefit of inspecting a product before purchasing, a convenience that generally isn’t afforded to consumers before dropping $20 on a six pack of craft brew.
Cannabis consumers often fancy themselves connoisseurs, employing their sensory evaluations in making buying decisions. Considering 85% of cannabis enthusiasts will not purchase products that have subpar scent and 63% will reject product that does not pass their visual inspection, smell and appearance are critical in building brand loyalty and winning over customers.
To that point, shoppers may be turning up their noses to the over-abundant supply of low-quality flower on the shelves at dispensaries. Take Ontario for example. Only eight months after adult-use legalization, 74% of SKUs sold by Ontario Cannabis Store, the only legal retailer of recreational cannabis in the populous province, were priced below C$10 per gram.
Jack Haze: Catering to Connoisseurs
7ACRES is not targeting the low-end market, instead relying on the quality of its products to attract and retain customers seeking luxury or exotic strains. Last year, the company released its first four premium product lines, all of which were indica leaning hybrids: Wappa, White Widow, Sensi Star and Jean Guy. Jean Guy fetches C$45.60 for 3.5 grams (C$13.03/gram).
Owing to its unique characteristics, the proprietary Jack Haze strain will retail for approximately C$49.99 for 3.5 grams (C$14.28/gram) at the Ontario Cannabis Store, according to a Supreme Cannabis investor presentation (please click above to receive the investor presentation). The price is actually quite competitive when put up against the popular U.S. premium strain called Topanga Canyon sold in California by Los Angeles-based Jungle Boys, which sells for US$26.00/gram (C$34.17/gram).
Jack Haze, the first sativa dominant strain and first proprietary strain of 7ACRES to hit the market, will soon be available in all eight Canadian provinces where 7ACRES products are already sold.
The company is marketing Jack Haze as having a high THC (tetrahydrocannabinol – the part of marijuana responsible for the psychoactive “high”) content with a terpinolene forward profile accounting for a complex aroma with notes of citrus, pine and warm spice and a crisp, zesty, evergreen flavor.
The novel name pays homage to the popular “Jack Herer” sativa strain, which was named eponymously after the famous American cannabis rights activist and “Emperor of Hemp” who passed away in 2010 at the age of 70.
“[Jack Haze’s] expression possesses a unique haze profile with a classic, sweet sativa smell and strong visual appeal,” said John Fowler in a statement on the product launch.
The team responsible for Jack Haze’s proprietary genetics selection will also be leading Cambium Plant Sciences, the new genetics business of Supreme Cannabis. Cambium will select and develop proprietary genetics for Supreme Cannabis’ brands, ensuring the production of differentiated and competitive cannabis products like Jack Haze.
“As we develop and introduce unique strains, we further differentiate 7ACRES’ high end flower offering and continue to achieve premium pricing across Canada,” added Fowler in the news release, reiterating the company’s commitment to abject quality.
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