Proactiveinvestors USA & Canada Supreme Pharmaceuticals https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Supreme Pharmaceuticals RSS feed en Thu, 23 May 2019 10:03:43 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Supreme Pharma closes C$10.61mln third financing tranche ]]> https://www.proactiveinvestors.com/companies/news/129848/supreme-pharma-closes-c1061mln-third-financing-tranche-129848.html Supreme Pharmaceuticals Inc. (CNSX:SL) said on Tuesday it has closed the third and largest tranche of a non-brokered private placement for proceeds of C$10,610,625, and aggregate proceeds from three tranches of C$14,949,755.

The company issued an aggregate 37,374,388 units at a price of 40 cents per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one common share of the corporation at a price of 50 cents for a period of three years from closing.

The company will use net proceeds of the financing for the expansion of the company's hybrid greenhouse facility and for general working capital purposes.

"This financing represents a big step in the growth of Supreme," said John Fowler, chief executive officer of Supreme.

"We are well positioned to complete our phase 1 expansion of the hybrid greenhouse to satisfy wholesale demand in excess of current capacity. The participation from existing shareholders, directors, management and local investors from Kincardine demonstrates our stakeholders' confidence in our organization and business plan. We are fortunate to have such a strong and supportive shareholder base moving forward."

The common shares and warrants issued are subject to a hold period that expires December 31. In aggregate, the company paid finders' fees of C$365,539 and issued 906,349 warrants across the three tranche closures.

In addition, the company issued 4,123,783 stock options to various employees, directors and consultants pursuant to the company's employee stock option plan. Each option has an exercise price of 75 cents and is exercisable at any time prior to August 29, 2021, subject to the terms and conditions of the plan.

The company also triggered the forced conversion of the remaining C$410,000 principal amount of secured convertible debentures issued April 23, 2015, through the issuance of 2,411,765 common shares, and will proceed to discharge the security previously granted in favour of the holders of secured convertible debentures.

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Tue, 30 Aug 2016 13:54:00 -0400 https://www.proactiveinvestors.com/companies/news/129848/supreme-pharma-closes-c1061mln-third-financing-tranche-129848.html
<![CDATA[News - Supreme closes mortgage on medical marijuana greenhouse ]]> https://www.proactiveinvestors.com/companies/news/129129/supreme-closes-mortgage-on-medical-marijuana-greenhouse-129129.html Supreme Pharmaceuticals Inc. (CNSX:SL) just closed a $4 million mortgage with a private lender for a hybrid greenhouse facility in Kincardine, Ontario, the company said on Monday.

Proceeds from the one-year, 12% fixed rate, interest-only mortgage were used to refinance a prior vendor take-back mortgage with respect to its wholly owned subsidiary, 8528934 Canada Ltd. (7 Acres).

Supreme Pharmaceuticals CEO John Fowler explained that this was a significant milestone for the company. "The hybrid greenhouse is exceeding performance expectations with a high-quality first crop nearing harvest in the 16,500-square-foot phase zero, while we expand the production area by 80,000 square feet into phase one."

The greenhouse is dedicated to growing medical-use marijuana and the company has agreements with five licensed producers. After completion of phase one of the project and subject to regulatory approval, Supreme expects total production capacity to rise to over 10,000 kilograms per year.

Supreme Pharma shares were up 2% at C$0.50 in Toronto on Monday.

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Mon, 08 Aug 2016 13:27:00 -0400 https://www.proactiveinvestors.com/companies/news/129129/supreme-closes-mortgage-on-medical-marijuana-greenhouse-129129.html
<![CDATA[News - Supreme Pharma closes second tranche of placement, raises $4.34mln ]]> https://www.proactiveinvestors.com/companies/news/128249/supreme-pharma-closes-second-tranche-of-placement-raises-434mln-128249.html Supreme Pharmaceuticals Inc. (CNSX:SL) closed the second tranche of its non-brokered private placement on Friday, raising $723,250 and combined proceeds of $4,339,130 as well as signalled a possible third tranche to come.

Supreme Pharmaceuticals develops an in-licensed technology aimed at targeting obesity.

In June the company made its first MMPR (marijuana for medical purposes regulations) revenue, it told investors. Read more.

Upon closure, the company issued 1,808,125 units at a price of 40 cents per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable for one common share of the corporation at a price of 50 cents for a period of three years from closing.

The common shares and warrants issued are subject to a hold period that expiries Nov. 15, 2016. The company paid aggregate finders' fees of $12,750 and issued 24,375 warrants to certain participating dealers in connection with the financing.

The company will use net proceeds of the financing for the expansion of the company's Kincardine hybrid greenhouse facility and for general working capital purposes. The company may complete a third tranche of the financing.

In addition, Supreme said it has entered into a sixth letter of intent (LOI) with respect to the long-term supply of dried cannabis to a licensed producer (as such term is defined in the marijuana for medical purposes regulations).

The LOI is on the same terms and subject to the same conditions as the company's initial five LOIs announced on May 20, 2015.

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Fri, 15 Jul 2016 09:20:00 -0400 https://www.proactiveinvestors.com/companies/news/128249/supreme-pharma-closes-second-tranche-of-placement-raises-434mln-128249.html
<![CDATA[News - Supreme Pharmaceuticals Inc makes first MMPR revenue ]]> https://www.proactiveinvestors.com/companies/news/127442/supreme-pharmaceuticals-inc-makes-first-mmpr-revenue-127442.html Supreme Pharmaceuticals Inc (CSE:SL) has made its first MMPR (marijuana for medical purposes regulations) revenue, it told investors.

The Canada-listed group has completed its first sale of cannabis genetics to another Canadian licensed producer (LP), it told investors.

Supreme provided the group with six strains for production and future sale to the producer's registered clients.

Supreme chief executive John Fowler said: "We believe strongly in the importance of good genetics to produce medical cannabis that is high quality, desirable in the marketplace and economical for the producer.

"I am very proud of my team for identifying and executing on this revenue opportunity, well in advance of obtaining our sales licence for dried marijuana."

In May, the group announced the start of its business-to-business sales model by entering into letters of intent for the sale of dried marijuana to five fully licensed Canadian licensed producers and this marks the commencement of the second leg of the group's business.

“The genetics business diversifies our revenue while remaining committed to supporting the aggregate growth of the legal cannabis industry in Canada," Fowler has said.

It's been a busy week for the firm, having raised C$3.62mln from a share and a warrant issue to expand its Kincardine greenhouse facility after strong demand  for its medical-use marijuana.

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Thu, 23 Jun 2016 07:35:00 -0400 https://www.proactiveinvestors.com/companies/news/127442/supreme-pharmaceuticals-inc-makes-first-mmpr-revenue-127442.html
<![CDATA[News - Supreme Pharma raises C$3.6mln for greenhouse expansion ]]> https://www.proactiveinvestors.com/companies/news/127349/supreme-pharma-raises-c36mln-for-greenhouse-expansion-127349.html Supreme Pharmaceuticals Inc (CSE:SL) has raised C$3.62mln from a share and a warrant issue to expand its Kincardine greenhouse facility after strong demand recently for its medical-use marijuana.

John Fowler, Supreme’s chief executive, said: "One month ago, we secured supply agreements with five Canadian medical marijuana licensed producers for substantially all of the expected output of phase 0 of our seven-acre hybrid greenhouse.

“Given the strong demand, we will begin phase 1 expansion of an additional 80,000 square feet of hybrid greenhouse area.

“The completion of phase 1 is projected to increase total production capacity to over 10,000 kilograms per year, subject to regulatory approval."

At that point the company may consider a second tranche of financing, said Fowler.

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Tue, 21 Jun 2016 08:18:00 -0400 https://www.proactiveinvestors.com/companies/news/127349/supreme-pharma-raises-c36mln-for-greenhouse-expansion-127349.html
<![CDATA[News - Supreme Pharmaceuticals set to ink cannabis genetics supply deal ]]> https://www.proactiveinvestors.com/companies/news/126795/supreme-pharmaceuticals-set-to-ink-cannabis-genetics-supply-deal-126795.html Supreme Pharmaceuticals Inc (CVE:SL) is set to ink a deal that will see it extend its previously announced diversification to encompass a business-to-business model.

It has agreed in principle to supply a Canadian licensed producer with multiple premium cannabis cultivars for production by the licensed producer, subject to obtaining applicable regulatory approvals, execution of definitive agreements and other customary closing conditions.

If all goes well, the transaction should complete within the next 60 days.

"Last month, we announced the commencement of our business-to-business sales model by entering into letters of intent for the sale of dried marijuana to five fully licensed Canadian licensed producers. Today marks the commencement of the second leg of our business: supply of high-quality cannabis genetics to other licensed producers,” said John Fowler, chief executive officer of Supreme.

“The genetics business diversifies our revenue while remaining committed to supporting the aggregate growth of the legal cannabis industry in Canada," Fowler added.

Shares in Supreme were unchanged on the news.

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Mon, 06 Jun 2016 11:25:00 -0400 https://www.proactiveinvestors.com/companies/news/126795/supreme-pharmaceuticals-set-to-ink-cannabis-genetics-supply-deal-126795.html
<![CDATA[News - Supreme Pharma makes marked progress in latest nine months ]]> https://www.proactiveinvestors.com/companies/news/126562/supreme-pharma-makes-marked-progress-in-latest-nine-months-126562.html Medical marijuana firm Supreme Pharmaceuticals Inc (CSE:SL) increased its cash position and narrowed the loss in the nine months to end March - a period in which it made considerable progress, it told investors.

The net loss for the period was $3.08mln against a loss of $4.76mln in the same period last year, it said.

Meanwhile, the group ended the period with $2.75mln compared to $107,000 at the end of March last year.

Several milestones have been toppled by the group this year and it opened a seven acre hybrid greenhouse facility in Kincardine, Ontario at the end of March, where first seeds were then sown.

That came after the firm obtained the key Marijuana for Medical Purposes (MMPR) licence, which was also granted in March.

The  plants are now progressing nicely towards an initial harvest which is expected in the third quarter, 2016.

Supreme also raised additional capital through the use of two warrant incentive programmes generating total proceeds of over $3.1mln.

The cash will be used for general working capital purposes as the firm moves through the cultivation stage in advance of expected revenues in the fourth quarter of 2016, it said.

Earlier this month, the group said it had secured letters of intent (LOIs) with five licenced producers over the long term supply of marijuana.

If they turn into definite agreements, it would mean the sale of more than 250kg of dried marijuana and 70 kg of dried marijuana trim in 2016, representing pretty much all of the group subsidiary's anticipated production for 2016, the firm told investors.

In addition, the agreements will be renewable for successive one-year periods.

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Tue, 31 May 2016 09:59:00 -0400 https://www.proactiveinvestors.com/companies/news/126562/supreme-pharma-makes-marked-progress-in-latest-nine-months-126562.html
<![CDATA[News - Supreme Pharma poised to sell almost all 2016 output ]]> https://www.proactiveinvestors.com/companies/news/126206/supreme-pharma-poised-to-sell-almost-all-2016-output-126206.html Medical marijuana grower Supreme Pharmaceuticals Inc (CSE:SL) is on a roll.

It has now secured letters of intent (LOIs) with five licenced producers over the long term supply of marijuana.

If they turn into definite agreements, it would mean the sale of more than 250kg of dried marijuana and 70 kg of dried marijuana trim in 2016, representing pretty much all of the group subsidiary's anticipated production for 2016, the firm said.

In addition, the agreements will be renewable for successive one-year periods.

John Fowler, Supreme's president and chief executive, told investors: "These LOIs validate our B2B business model, leveraging our competitive advantage as a single-licence producer operating one of the largest, most innovative production facilities in the country.

"Our goal is to support aggregate growth in the industry by providing leading retailers with high-quality, sun-grown cannabis and today is the first step towards that goal."

Supreme is the first LP in Canada to focus exclusively on a B2B model intended to provide stable, long-term supply to retail focused LPs, it added.

The deals are conditional upon various factors, including gaining regulatory approvals, a sales licence and completion of due diligence.

Last month the group struck a strategic tie-up with  top Spanish international cannabis seed developer. Dinafem Seeds, which will supply Supreme's wholly owned subsidiary, AMMCan with seeds to be used in the group's seven-acre (342,000-square-foot) facility in Ontario.

Dinafem will also supply Supreme with exclusive continuing consulting services.

That news comes hot on the heels of the new opening of Supreme's new greenhouse.

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Fri, 20 May 2016 09:13:00 -0400 https://www.proactiveinvestors.com/companies/news/126206/supreme-pharma-poised-to-sell-almost-all-2016-output-126206.html
<![CDATA[News - Supreme Pharmaceuticals Inc shapes medical marijuana strategy around Canada ]]> https://www.proactiveinvestors.com/companies/news/126107/supreme-pharmaceuticals-inc-shapes-medical-marijuana-strategy-around-canada-126107.html Legalising marijuana for medical use can still be a thorny topic in some countries.

But Supreme Pharmaceuticals Inc. is hoping to lead the way in harnessing its acceptance and benefits in Canada.

Supreme obtained regulatory approval to grow medical marijuana at its site in Kincardine, Ontario, in March.

The company is on track to harvest its first crop in the summer and hopes to get final approval to sell it in September or October.

In the US, four states have legalized the plant for recreational use and 12 others allow its consumption for medical purposes, although that remains a relatively small proportion of the country as a whole.

But in Canada, the medical marijuana business has legalised progressively in the last 15 years.

A key milestone came in 2014 when the government’s Health Canada arm introduced the Marijuana for Medical Purposes Regulations.

The government also said last month it will press ahead in 2017 with plans to legalise marijuana for adult recreational use.

That market is expected to be worth US$5bn a year by 2020 according to leading industry analysts.

Supreme is targeting a domestic medical market, which it expects to be worth about US$100mln by the end of this year and US$1.2bn by 2020.
 
Supreme’s president and chief executive, John Fowler, said he believed Canada was doing better than some other countries in overcoming concerns about using the plant for clinical purposes.

“I wouldn’t say the stigma has gone but we’re moving in the right direction,” he said.
 
Fowler began working in the medical marijuana sector more than 10 years ago.

He pursued a legal career to help medical marijuana patients with legal challenges relating to access, jobs and tenancies, working on major cases.

He now sees his mission as being not only to provide Canadians with access to high-quality, low-cost medical marijuana, but to work with physicians to improve their awareness and support for it.

“The hope is that the doctor will be more educated and more willing to subscribe to the company’s products,” he said.

Bottom line

Supreme and its wholly owned subsidiary, AMMCan, have set up a federally-licensed, seven-acre greenhouse in Kincardine on the shores of Lake Huron.  When fully operational, the company expects to be able to produce in excess of 50,000 KG per year.

Supreme has obtained exclusive rights to work with international seed supplier Dinafem.  The arrangement will provide Supreme with access to over 100 unique cannabis strains to put into production in the Kincardine greenhouse. 

"Choosing the right genetics is one of the most important aspects of producing high quality cannabis for both medical and recreational markets," Fowler said.

"It was important we seek out a partner like Dinafem to ensure we grow only the best genetics in our greenhouse which will maximize output, increase quality and have a direct impact on our bottom line."

Supreme has raised more than US$10mln, three quarters of which it has spent on fitting out the greenhouse and the rest of which it still has in the bank.

It expects those reserves to sustain it until it starts earning revenue from marijuana sales later this year.
 
Supreme is among about 25 companies holding 31 licences to produce medical marijuana.

The current market of about 45,000 patients is increasing at a rate of about 5,000 per month and is on track to more than double in this calendar year.

Supreme’s primary aim was to supply the consumer market direct by mail order.

But it is exploring the possibility of becoming more of a business-to-business supplier of licensed marijuana to other companies that would retail it.

Fowler said: “The benefits of that are long-term, stable revenue based on supply agreements, rather than volatile revenues from retail.”

Supreme has had to take extensive security precautions at Kincardine to prevent theft, such as high fencing and cameras, and the end product is stored in a vault.

“We like to joke that our marijuana in the vault will be more secure than our money in the bank,” Fowler said.
 
Fowler also acknowledges the general risk of abuse of the product. However it is worth pointing out marijuana consumption is seen to be less dangerous than tobacco or alcohol with few reported side effects, he said.

Strict regulation compels the company to ensure its products are not contaminated by pesticides or other substances that may be in marijuana bought from street dealers.

Supreme has international ambitions and is eyeing opportunities in countries such as Australia, Germany and Austria.

Canberra recently legalized marijuana for medical use and Berlin and Vienna are considering doing the same.

The company believes it will be able to generate US$200mln in annual domestic revenues within the next decade.  This keeps the company’s focus on executing on its domestic business as a top priority.

Fowler said: “It’s very important to me as the chief executive that we don’t allow the prospect of new markets to in any way negatively affect our primary market, which is right here in Canada.”

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Wed, 18 May 2016 10:40:00 -0400 https://www.proactiveinvestors.com/companies/news/126107/supreme-pharmaceuticals-inc-shapes-medical-marijuana-strategy-around-canada-126107.html
<![CDATA[News - Supreme Pharma appoints La Brier chairman, Dhaliwal CFO ]]> https://www.proactiveinvestors.com/companies/news/125205/supreme-pharma-appoints-la-brier-chairman-dhaliwal-cfo-125205.html Supreme Pharmaceuticals Inc. (CNSX:SL) said on Monday it has strengthened its board of directors, following receipt of the federal licence to cultivate marijuana at its seven-acre (342,000 square feet) hybrid greenhouse facility in Kincardine, Ontario.

Michael La Brier joins the board of directors as chairman. Mr. La Brier is a successful Toronto-based real estate developer. La Brier will be joined on the board by Scott Walters.

Meanwhile, Navdeep Dhaliwal, CA, a current director of Supreme, has been appointed the chief financial officer.

La Brier brings a wealth of entrepreneurial and governance experience to Supreme from his prior positions as president of Canderel Stoneridge, a large real estate development firm, and trustee and chair of the governance committee at Primaris REIT. La Brier will be replacing Chris Bechtel, who has stepped down as both chairman and director.

La Brier stated: "As a long-standing shareholder, I am excited to join the board and assist the management team in meeting its short-term and long-term growth objectives. Management has done a great job laying the groundwork for Supreme to obtain a leadership position in the cannabis market. With the licence in hand, I believe the road ahead for Supreme is bright."

Walters is a former investment banker and hedge fund manager who has become a leading figure in the emerging marijuana industry.

Walters was the start-up chief executive officer of another Canadian company that is now a licensed producer and currently is CEO of a successful US-based medical support business focused on the needs of patients suffering from chronic and disabling illnesses utilizing cannabinoids to improve their quality of life.

Dhaliwal has an extensive background in capital markets and the growth of new ventures. He is a chartered accountant and began his career with KPMG LLP. Mr. Dhaliwal replaces former interim CFO Cailin Ghelsen, who will remain with the company's finance department.

Supreme also announced that it has granted 800,000 options to purchase common shares of the company to the new directors pursuant to the terms of the company's option plan. The options have an exercise price of 75 cents.

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Mon, 25 Apr 2016 15:02:00 -0400 https://www.proactiveinvestors.com/companies/news/125205/supreme-pharma-appoints-la-brier-chairman-dhaliwal-cfo-125205.html
<![CDATA[News - Supreme Pharmaceuticals Inc strikes deal with top seed developer ]]> https://www.proactiveinvestors.com/companies/news/124449/supreme-pharmaceuticals-inc-strikes-deal-with-top-seed-developer-124449.html Medical marijuana group Supreme Pharmaceuticals Inc (CSE:SL) has struck a strategic tie-up with a top Spanish international cannabis seed developer.

Dinafem Seeds will supply Supreme's wholly owned subsidiary, AMMCan with high-quality seeds to be used in the group's seven-acre (342,000-square-foot) facility in Ontraio.

Dinafem will also supply Supreme with exclusive continuing consulting services.

It comes hot on the heels of the new opening of Supreme's new greenhouse.

"We are excited Supreme will be utilizing our genetics in their hybrid greenhouse," said Mr Gorospe, chief executive officer of Dinafem.

"Supreme's commitment to producing high-quality, sun-grown cannabis is aligned with our own commitment to producing the best genetics."

Supreme chief executive John Fowler added: "I have always admired Dinafem as a leader in the international cannabis market. Dinafem's commitment to quality and innovation is a perfect match for Supreme.

"It is critical to start from seed to ensure our plants are ideally suited to our hybrid greenhouse and our business objectives. I'm eager to see what Dinafem and Supreme will produce together."

Dinafem has also made considerable strides in the development of cannabidiol-rich cannabis varieties.

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Tue, 05 Apr 2016 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/124449/supreme-pharmaceuticals-inc-strikes-deal-with-top-seed-developer-124449.html
<![CDATA[News - Supreme Pharmaceuticals Inc reaches another milestone with greenhouse opening ]]> https://www.proactiveinvestors.com/companies/news/124218/supreme-pharmaceuticals-inc-reaches-another-milestone-with-greenhouse-opening-124218.html Medical marijuana group Supreme Pharmaceuticals Inc (CSE:SL) took another step forward as it opened a seven acre hybrid greenhouse facility in Kincardine, Ontario, where first seeds will be sown this week.

The firm said the grand opening, which played host to over 100 guests  followed on from the firm obtaining the key Marijuana for Medical Purposes (MMPR) licence granted on March 11 this year.

"The grand opening of our 7 Acre hybrid greenhouse and the first planting of seeds are exciting milestones for Supreme," said John Fowler, president of Supreme.

 "Our team has executed our business plan with great skill, efficiency, and precision. Our license was obtained, without deficiencies, on a single inspection. Now we are moving to commence cultivation less than three weeks later. I have confidence in our ability to produce high quality sun grown product at a competitive cost and execute on our business plan."

"Today is a great day for the company and for Kincardine," Mayor Eadie told the assembled, the firm reported.

"In 2014 Supreme came to town promising local employment and investment in our community. We are pleased they chose to put down roots in our Bruce Energy Centre and transform the existing greenhouse facility into a first rate operation.

"The Municipality of Kincardine looks forward to the next stage of Supreme's business." Ben Lobb, Member of Parliament for Huron-Bruce said.

"It has been a long process for the company to obtain the MMPR license.

"I was impressed with the group's dedication to their local community and unwavering commitment to become a licensed producer of sun grown, sustainable & affordable medical cannabis." 

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Wed, 30 Mar 2016 09:39:00 -0400 https://www.proactiveinvestors.com/companies/news/124218/supreme-pharmaceuticals-inc-reaches-another-milestone-with-greenhouse-opening-124218.html
<![CDATA[News - Supreme Pharmaceuticals completes second warrant issue ]]> https://www.proactiveinvestors.com/companies/news/123930/supreme-pharmaceuticals-completes-second-warrant-issue-123930.html Supreme Pharmaceuticals (CSE:SL) has raised US$1.01mln through a warrant incentive scheme, which will help it lower its cost of production and scale up quicker.

"We continue to receive strong support from our existing shareholder base. We have been busy as a company during the licensing process to ensure we hit the ground running," stated John Fowler, the medical marijuana group’s president.

 "This incentive program further adds to our treasury and will allow us to quickly execute on our business plan, which is focused on continually improving two key metrics: the cost of production and our ability to scale.”

Fowler added that it had also issued 1.47mln to staff and advisors at Supreme's wholly owned subsidiary, Advanced Medical Marihuana Canada (AMMCan) following its receipt of a licence to cultivate medical marijuana.

Last month, Supreme raised around C$2.1mln, also through a warrant programme.

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Mon, 21 Mar 2016 12:42:00 -0400 https://www.proactiveinvestors.com/companies/news/123930/supreme-pharmaceuticals-completes-second-warrant-issue-123930.html
<![CDATA[News - Supreme Pharmaceuticals offers further warrant incentive program ]]> https://www.proactiveinvestors.com/companies/news/122383/supreme-pharmaceuticals-offers-further-warrant-incentive-program-122383.html Supreme Pharmaceuticals (CSE:SL), the medical marijuana group, has offered again a limited time warrant exercise incentive program.

From February 16, shareholders can exercise around 4.1mln outstanding warrants issued after last year's July's private placing.

Holders who exercise such warrants before March 17 this year shall, in addition to the common share they would have received, get an additional share purchase warrant.

That will entitle the bearer to purchase one share at an exercise price of 55 cents before July 27, 2018, subject to  certain circumstances.

The incentive warrants, and any shares issuable upon thereof, will be subject to a four-month hold period from the date they were issued, said Supreme.

Last month, the group said it had closed its warrrant incentive programme, announced last month, and raised more than around $2.1mln.

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Wed, 10 Feb 2016 08:22:00 -0500 https://www.proactiveinvestors.com/companies/news/122383/supreme-pharmaceuticals-offers-further-warrant-incentive-program-122383.html
<![CDATA[News - Supreme Pharma closes warrant program; brings in $2.1mln ]]> https://www.proactiveinvestors.com/companies/news/121168/supreme-pharma-closes-warrant-program-brings-in-21mln-121168.html Supreme Pharmaceuticals (CSE:SL), the medical marijuana group, has now closed its warrrant incentive programme, announced last month, and raised more than around $2.1mln.

It issued 12.6mln shares and the same number of share purchase warrants.

As reported on December 2, those investors who held warrants as a result of April's placing were able to  exercise such warrants up to January 8 (Friday), and as well as the common share the holder would have received, received  an additional share purchase warrant, allowing them to buy purchase one common share  at an exercise price of 32 cents before April 23, 2020.

The firm said around $220,000 of the proceeds from the programme had been brought in via the exercise of warrants by certain directors or officers of the company.

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Mon, 11 Jan 2016 08:25:00 -0500 https://www.proactiveinvestors.com/companies/news/121168/supreme-pharma-closes-warrant-program-brings-in-21mln-121168.html
<![CDATA[News - Supreme Pharmaceuticals looks to strengthen coffers with warrant program ]]> https://www.proactiveinvestors.com/companies/news/120012/supreme-pharmaceuticals-looks-to-strengthen-coffers-with-warrant-program-120012.html Supreme Pharmaceuticals (CSE:SL) is looking for shareholders to further strengthen its coffers with a warrant exercise incentive program for a limited time period.

"We are pleased to be the first issuer on the Canadian Securities Exchange to utilize a warrant incentive program," said John Fowler, Supreme's president.

"We have enjoyed strong shareholder support this year, and management decided it is advantageous for Supreme to look to its existing securityholders to strengthen our treasury and accelerate go-to-market initiatives."

Those who hold warrants as a result of April's placing will, from December 7, be able to  exercise such warrants up to January 8 next year, and shall, as well as the common share the holder would have received, get an additional share purchase warrant.

These allow the holder to purchase one common share  at an exercise price of 32 cents before April 23, 2020.

If a holder of an April warrant does not take part in the incentive program, it will continue to be exercisable in accordance with the previous terms.

Last month, the medical marijuana group reported a narrower loss in its fiscal first quarter.

Net loss shrank to $0.5mln in the three months ended September 30, from a net loss of $2mln in the year-earlier period.

Supreme said it intends to generate revenue, once licensed, from the sale of dried marijuana and similar products to Canadian licensed producers pursuant to wholesale agreements.

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Thu, 03 Dec 2015 07:22:00 -0500 https://www.proactiveinvestors.com/companies/news/120012/supreme-pharmaceuticals-looks-to-strengthen-coffers-with-warrant-program-120012.html
<![CDATA[News - Supreme Pharma quarterly loss narrows ]]> https://www.proactiveinvestors.com/companies/news/119837/supreme-pharma-quarterly-loss-narrows-119837.html Supreme Pharmaceuticals (CSE:SL), a Canada-based development company focusing on medical marijuana, reported a narrower loss in its fiscal first quarter.

Net loss shrank to $0.5mln, or breakeven per diluted share, in the three months ended September 30, from a net loss of $2mln, or $0.01 loss per diluted share, in the year-earlier period, the Vancouver, British Columbia-based company said in a statement.

Supreme said it intends to generate revenue, once licensed, from the sale of dried marijuana and similar products to Canadian licensed producers pursuant to wholesale agreements.

Supreme added that even if its primary asset, the Supreme MMJ, becomes a licensed producer and commences growing, the company may continue to incur losses.

The company's cash used in operating activities during the three month period ended September 30, was $0.4mln, down from $1.4mln used in the year-earlier period.

On May 23, 2014, Supreme MMJ purchased a seven-acre greenhouse property  in Kincardine, Ontario in trust for Supreme.

The company said in the statement that it believes the Hybrid Greenhouse will combine the quality, standardization and environmental controls associated with “indoor” marijuana production with the efficiencies, scale and cost-effectiveness of greenhouse produced marijuana.

In the period, Supreme completed a repurposing of approximately 39,500 square feet of the Hybrid Greenhouse in this manner.

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Mon, 30 Nov 2015 08:37:00 -0500 https://www.proactiveinvestors.com/companies/news/119837/supreme-pharma-quarterly-loss-narrows-119837.html
<![CDATA[News - Supreme Pharmaceuticals appoints new director ]]> https://www.proactiveinvestors.com/companies/news/119449/supreme-pharmaceuticals-appoints-new-director-119449.html Supreme Pharmaceuticals (CVE:SL, CNSX:SL), a developer of medical marijuana, has appointed Navdeep Dhaliwal  as a director.

Dhaliwal's primary focus will be the development of Supreme's go-to-market strategy, in addition to corporate development and capital markets initiatives, the Vancouver, British Columbia-based company said in a statement on Thursday.

"This is an exciting time for Supreme," Dhaliwal was quoted in the statement as saying. "I am looking forward to working with Supreme's leadership team to leverage my experiences growing businesses, particularly in the on-line space."

Dhaliwal is a chartered accountant and currently serves as th principal of NLX Capital, a Toronto-based corporate development firm focused primarily on technology and renewable energy.

Dhaliwal was recently retained by a Toronto software company where he successfully expanded the company's business into South East Asia, where Dhaliwal has extensive business experience.

Dhaliwal has been involved in the Canadian medical marijuana space for two years prior to joining Supreme.

Concurrent with Dhaliwal's appointment, Supreme's board accepted the resignation of Allan Levien, a long-serving director of the company.

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Thu, 19 Nov 2015 11:06:00 -0500 https://www.proactiveinvestors.com/companies/news/119449/supreme-pharmaceuticals-appoints-new-director-119449.html
<![CDATA[News - Supreme Pharmaceuticals completes private placement of over C$684,000 ]]> https://www.proactiveinvestors.com/companies/news/109577/supreme-pharmaceuticals-completes-private-placement-of-over-c684000-109577.html Supreme Pharmaceuticals (CSE:SL) has closed a private placement financing, issuing a total of $684,449.82.

Supreme issued 4.026469 million units, each consisting of one common share and one warrant, at a price of 17 cents per unit. Each Warrant is exercisable for one Common Share at a price of $0.32 per share prior to July 27th, 2017.

“We were approached by local residents and key contactors who share our vision for the future of the medical marijuana industry and want to be a part of our journey. This type of support has been invaluable for us since day one, and will continue to be essential when we are able to move forward into the operating stage of our business," said Supreme’s president John Fowler.

Separately, Supreme extended the expiry date of warrants issued in connection to its private placement closing on September 22, 2015 and October 6, 2015.

The 4.478 million warrants issued on September 22, 2014, due to expire on September 22, 2015 will now expire September 22, 2016 while 897,000 warrants issued on October 6, 2014 with an expiry date of October 6, 2015 will now expire October 6, 2016.

At the end of last February, Supreme completed its move from British Columbia to Ontario, allowing it to focus resources on its flagship medical marijuana 342,000 sq. ft. hybrid greenhouse facility in Kincardine, Ontario, slated to produce up to 24 million grams of medical marijuana.

Supreme has been working steadily over the past year to develop Kincardine, since receiving the largest conditional pre-approval from Health Canada in January 2014.

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Fri, 31 Jul 2015 20:36:00 -0400 https://www.proactiveinvestors.com/companies/news/109577/supreme-pharmaceuticals-completes-private-placement-of-over-c684000-109577.html
<![CDATA[News - Supreme Pharmaceuticals completes $1.465 million private placement ]]> https://www.proactiveinvestors.com/companies/news/106413/supreme-pharmaceuticals-completes-1465-million-private-placement-61144.html

Supreme Pharmaceuticals (CSE:SL) has closed a private placement financing, issuing a total of $1,465,580 in secured convertible debentures, the company said Friday.

Supreme prepaid the 10% interest on the debentures issuing 3,834,837 interest units, each consisting of one common share and one warrant.

The debenture buyers also received 8,266,647 warrants. Each warrant can buy an additional common share at a price of 17 cents for a period of five years. The Debentures, Warrants and Common Shares issued are subject to a hold period that expires August 24, 2015.

At the end of last February, Supreme completed its move from British Columbia to Ontario, to focus resources on its flagship medical marijuana 342,000 sq. ft. hybrid Kincardine greenhouse facility, slated to produce up to 24 million grams of medical marijuana.

Supreme expects the lower operating overhead will allow the company to focus efforts on obtaining the required regulatory approvals, which are now in their final steps.

The company completed the security and infrastructure upgrades at the greenhouse, and is now ready to participate in the Health Canada pre-license inspection while preparing for its post-license operations by consulting with various health care providers, patient groups and wholesale partners.

Supreme has been working steadily over the past year to develop Kincardine, since receiving the largest conditional pre-approval from Health Canada in January 2014.

Supreme’s shares have been trading at a range of C$0.20-0.24 for the past week.

 

 

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Fri, 24 Apr 2015 09:30:00 -0400 https://www.proactiveinvestors.com/companies/news/106413/supreme-pharmaceuticals-completes-1465-million-private-placement-61144.html
<![CDATA[News - Supreme transitions operations to Ontario to focus efforts on Kincardine ]]> https://www.proactiveinvestors.com/companies/news/105419/supreme-transitions-operations-to-ontario-to-focus-efforts-on-kincardine-59755.html Supreme Pharmaceuticals (OTC PINK:SPRWF)(CSE:SL) said it has completed its transition of operations from British Columbia to Ontario, allowing it to focus its resources on its medical marijuana Kincardine facility and to lower costs.

It said the move has reduced operating overhead, and will better permit the company to focus efforts on obtaining the required regulatory approvals for Kincardine.

"Re-focusing our attention on Ontario is a big step in our journey to become a leading supplier of affordable medical marijuana in Canada," said president John Fowler in a statement.

"It allows us to concentrate on building our business around our flagship greenhouse facility. With our focus set squarely on Kincardine, I feel we are well positioned for future success."

Supreme said in December that it was ready for the final step prior to being approved for a production license at its Kincardine facility, delivering on expectations laid out at the beginning of 2014. 

The company completed the security and infrastructure upgrades at the greenhouse, and is now ready to participate in the Health Canada pre-license inspection, though no date has yet been set, Supreme said Monday. In the meantime, it continues to prepare for its post-license operations by consulting with various health care providers, patient groups and wholesale partners.

Supreme has been working steadily over the past year to develop Kincardine, and with strong support from the local community, it has been able to move relatively quickly to implement its proposed plan since receiving the largest conditional pre-approval from Health Canada in January 2014.

The company is planning to produce up to 24 million grams of medical marijuana at the 342,000 square foot Kincardine facility, and has had to build up the facility to meet regulatory requirements. 

As part of the transition to Ontario, Supreme said Brayden Sutton will resign as executive VP, effective immediately, but will continue on with the company as a consultant in the near term.

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Mon, 09 Feb 2015 14:28:00 -0500 https://www.proactiveinvestors.com/companies/news/105419/supreme-transitions-operations-to-ontario-to-focus-efforts-on-kincardine-59755.html
<![CDATA[News - Supreme Pharma raises more than expected from private placement amid continued support at Kincardine ]]> https://www.proactiveinvestors.com/companies/news/105200/supreme-pharma-raises-more-than-expected-from-private-placement-amid-continued-support-at-kincardine-59461.html Medical marijuana company Supreme Pharmaceuticals (CSE:SL) has closed an oversubscribed private placement financing, raising a total of $257,635, the company said Friday.

Supreme issued 780,712 units, made up of 780,712 common shares and 390,356 common share purchase warrants, at a price of 33 cents apiece. 

Every warrant can buy an additional common share at a price of 50 cents, for a period of two years. 

Supreme said last month that it is now ready for the final step prior to being approved for a production license at its Kincardine medical marijuana facility in Ontario, delivering on expectations laid out at the beginning of 2014.

The company completed the security and infrastructure upgrades at the greenhouse facility, and is ready to participate in the Health Canada pre-license inspection, though no date has yet been set.

Supreme has been working steadily over the past year to develop Kincardine, and with strong support from the local community, it has been able to move quickly to implement its proposed plan since receiving the largest conditional pre-approval from Health Canada last January.

The company is planning to produce up to 24 million grams of medical marijuana at the 342,000 square foot Kincardine facility, and has had to build up the facility to meet regulatory requirements. 

"This private placement represents another manifestation of the tremendous support we have enjoyed from the Kincardine community," said president John Fowler. 

"We were approached by a number of local residents and contractors who wanted to participate in the company's success by investing in the private placement. 

"That interest and enthusiasm resulted in the company raising more funds than initially expected. This type of backing, and the general support of the Kincardine community, is one of our greatest assets."       

Supreme said the proceeds will be used for general working capital needs.

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Fri, 23 Jan 2015 14:26:00 -0500 https://www.proactiveinvestors.com/companies/news/105200/supreme-pharma-raises-more-than-expected-from-private-placement-amid-continued-support-at-kincardine-59461.html
<![CDATA[News - Supreme Pharmaceuticals appoints lawyer John Fowler as president and director ]]> https://www.proactiveinvestors.com/companies/news/104792/supreme-pharmaceuticals-appoints-lawyer-john-fowler-as-president-and-director-58936.html Supreme Pharmaceuticals (OTC PINK:SPRWF)(CSE:SL) said it has appointed John Fowler as the president of the company, while also electing him to the board of directors.

Fowler, previously director of operations, began working in the medical marijuana sector over 10 years ago, pursuing a career in law to assist medical marijuana patients with legal issues ancilliary to medical marijuana use.

The company said he most recently worked at a prominent Toronto law firm.

Supreme also announced it has appointed Dr. Youbin Zheng, an associate professor and environmental horticulture chair at the University of Guelph, to its advisory board. According to Supreme, he has years of experience in horticulture research, especially in vegetable and ornamental plant production in greenhouses in Canada, England, Japan and China.

The news follows Supreme's announcement last week that it is now ready for the final step prior to being approved for a production license at its Kincardine medical marijuana facility in Ontario, delivering on expectations laid out at the beginning of 2014.

The company completed the security and infrastructure upgrades at the greenhouse facility, and is ready to participate in the Health Canada pre-license inspection, though no date had yet been set as of Friday last week.

Supreme has been working steadily over the past year to develop Kincardine, and with strong support from the local community, it has been able to move quickly to implement its proposed plan since receiving the largest conditional pre-approval from Health Canada in January.

The company is planning to produce up to 24 million grams of medical marijuana at the 342,000 square foot Kincardine facility, and has had to build up the facility to meet regulatory requirements. 

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Fri, 19 Dec 2014 14:14:00 -0500 https://www.proactiveinvestors.com/companies/news/104792/supreme-pharmaceuticals-appoints-lawyer-john-fowler-as-president-and-director-58936.html
<![CDATA[News - Supreme raises nearly double the proceeds it initially sought in financing ]]> https://www.proactiveinvestors.com/companies/news/104253/supreme-raises-nearly-double-the-proceeds-it-initially-sought-in-financing-58217.html Supreme Pharmaceuticals (CSE:SL) has closed the final tranche of the financing announced earlier this month, for total proceeds of some $1.8 million from the entire offering. It had initially expected to raise around $1 million.

In this latest tranche, Supreme issued 2.55 million units and 1.27 million share purchase warrants, at a price of 32 cents per unit, for proceeds of $0.82 million. Each warrant can be used to purchase an additional common share at a price of 50 cents prior to November 17, 2016.

The first and second closings of the financing together comprised of 5.57 million common shares and 2.78 million warrants issued.

"Having raised almost double the proceeds that we initially sought when we announced our raise just three weeks ago, we're pleased with the positive response we've had, and extremely gratified at the investment community's ongoing interest in Supreme," said a company director, who was not named, in a statement.

"With this raise now finalized, we have a strong balance sheet and are well-positioned to continue executing on our long-term growth strategy."

The company is planning to use the new funds for the continued development of its Kincardine medical marijuana facility, which is approaching the production phase. 

In early November, Supreme said it had the funding in place to complete the build out of its Kincardine facility, taking it through to the licensing stage and beyond.

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana at Kincardine, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility, which is expected this month.

The build out of Kincardine is expected to be completed by the end of November. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

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Tue, 18 Nov 2014 10:08:00 -0500 https://www.proactiveinvestors.com/companies/news/104253/supreme-raises-nearly-double-the-proceeds-it-initially-sought-in-financing-58217.html
<![CDATA[News - Supreme boosts size of private placement to $2.0 million ]]> https://www.proactiveinvestors.com/companies/news/104082/supreme-boosts-size-of-private-placement-to-20-million-57977.html Supreme Pharmaceuticals (CSE:SL) has bolstered the maximum size of its private placement announced earlier this month to $2.0 million from $1.0 million previously.

The non-brokered offering will now be made up of up to 6.25 million units at a price of 32 cents apiece. Each unit will consist of one common share and one half of a share purchase warrant, with every whole warrant good for an additional common share for a price of 50 cents for a period of two years from closing.

The company now expects to close the offering on around November 17, it said.

The offering comes on the heels of Supreme raising a total of $2.6 million from a two-part financing last month. The Vancouver, BC-based company will put all the money towards the development of its Kincardine medical marijuana facility, which is approaching the production phase. 

On Thursday, Supreme said it has the funding in place to complete the build out of its Kincardine facility, taking it through to the licensing stage and beyond.

The company also announced that chief executive officer David Stadnyk will move out of his role of CEO and director with Supreme. Brayden R. Sutton, currently executive VP for Supreme in Vancouver, will take on additional leadership responsibilities, while director George Tsafalas will step in as interim president.

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana at Kincardine, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility, which is expected this month.

Stadnyk said he expects the build out of Kincardine to be completed by the end of November. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

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Fri, 07 Nov 2014 10:34:00 -0500 https://www.proactiveinvestors.com/companies/news/104082/supreme-boosts-size-of-private-placement-to-20-million-57977.html
<![CDATA[News - Supreme secures funding for build out of Kincardine, CEO steps down ]]> https://www.proactiveinvestors.com/companies/news/104053/supreme-secures-funding-for-build-out-of-kincardine-ceo-steps-down-57947.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) now has funding in place to complete the build out of its Kincardine medical marijuana facility, taking it through to the licensing stage and beyond.

The news came in a statement released earlier today, which updated investors on the company's funding status and general progress ahead of an "Investor Meet and Greet" to be held today in Vancouver.

The company also announced that chief executive officer David Stadnyk will move out of his role of CEO and director with Supreme. Brayden R. Sutton, currently executive VP for Supreme in Vancouver, will take on additional leadership responsibilities, while director George Tsafalas will step in as interim president.

"I'm proud of what we've accomplished at Supreme over the last year, and the contributions that I could make in its early stages," said Stadnyk. 

"With our latest raise being finalized and with the management team we've assembled in Kincardine and Vancouver, I'm confident that the company is positioned for an exciting future." 

On Wednesday, the company announced the closing of the first tranche of a financing launched late last month, raising a total of almost $1 million for the development of Kincardine, which is approaching the production phase.

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana at Kincardine, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility, which is expected this month.

Stadnyk said he expects the build out of Kincardine to be completed by the end of November.

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Supreme also said that Chris Bechtel, who is currently on the company's advisory board, will be apppointed to the board of directors seat that is being vacated by Stadnyk, who will continue on as an advisory board member.

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Thu, 06 Nov 2014 11:32:00 -0500 https://www.proactiveinvestors.com/companies/news/104053/supreme-secures-funding-for-build-out-of-kincardine-ceo-steps-down-57947.html
<![CDATA[News - Supreme raises nearly $1 mln in first tranche of financing ]]> https://www.proactiveinvestors.com/companies/news/104028/supreme-raises-nearly-1-mln-in-first-tranche-of-financing-57909.html Supreme Pharmaceuticals (CSE:SL) has closed the first tranche of its financing announced late last month, raising a total of almost $1 million in proceeds for the development of its Kincardine medical marijuana facility.

The company issued 3.017 million units, made up of 3.017 million common shares and 1.5 million share warrants, at a price of 32 cents apiece. Every warrant can be exercised for one additional common share at a price of 50 cents for a period of two years. 

Supreme said company insiders, including directors and senior officers, purchased a total of 1.3 million units in the latest tranche.

The offering comes on the heels of Supreme raising a total of $2.6 million from a two-part financing last month. The Vancouver, BC-based company will put all the money towards the development of its Kincardine medical marijuana facility, which is approaching the production phase. 

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility. 

Supreme says it is expecting a pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Last week, Supreme said its medical marijuana facility in the South Okanagan, BC was rejected by Health Canada for a license to produce under the new regulatory regime. The company stood by its view that the site meets the criteria set forth by Health Canada with respect to acceptable locations and zoning, and is currently investigating its options.

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Wed, 05 Nov 2014 14:54:00 -0500 https://www.proactiveinvestors.com/companies/news/104028/supreme-raises-nearly-1-mln-in-first-tranche-of-financing-57909.html
<![CDATA[News - Supreme says rejection of South Okanagan marijuana facility a short-term setback, remains focused on flagship Kincardine site ]]> https://www.proactiveinvestors.com/companies/news/103914/supreme-says-rejection-of-south-okanagan-marijuana-facility-a-short-term-setback-remains-focused-on-flagship-kincardine-site-57769.html Supreme Pharmaceuticals (CNSX:SL) said its medical marijuana facility in the South Okanagan, BC has been rejected by Health Canada for a license to produce under the new regulatory regime.

The company, in a statement released late Wednesday, said the news was relayed to Supreme by one of its partners, the operator of the facility, and that the reason for the rejection is due to the fact that the current site is too close to a small number of residential buildings.

Supreme stood by its view that the site meets the criteria set forth by Health Canada with respect to acceptable locations and zoning, and is currently investigating its options.

"Although this represents a short-term setback for Supreme in British Columbia, as acknowledged in our September news release, the company remains focused on the development of our flagship project in Kincardine, Ontario," said chief executive officer, David Stadnyk, in a release.

"Construction of the Kincardine facility is progressing as expected and the company anticipates a pre-license inspection by Health Canada in November 2014." 

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana from Kincardine, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program, expected next month.

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Its South Okanagan facility was brought via an option to purchase the business associated with the site in April, in consideration for $150,000 in cash and $100,000 in common shares at a price of 5 cents apiece. The option is exercisable until April of next year, Supreme said.

Separately, the company also announced that it has increased the maximum size of its non-brokered private placement financing announced earlier this month to $1.5 million from $1.0 million previously. The placement will consist of up to 4.69 million units at a price of 32 cents each, with each unit made up of one common share and one half of a warrant. 

Every whole warrant will allow the holder to buy an additional common share for 50 cents, for a period of two years from closing. The financing, from which the proceeds will be used to fund the development of Kincardine, is now expected to close on around November 7.

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Thu, 30 Oct 2014 08:58:00 -0400 https://www.proactiveinvestors.com/companies/news/103914/supreme-says-rejection-of-south-okanagan-marijuana-facility-a-short-term-setback-remains-focused-on-flagship-kincardine-site-57769.html
<![CDATA[News - Supreme to raise another $1 mln for Kincardine medical marijuana facility ]]> https://www.proactiveinvestors.com/companies/news/103798/supreme-to-raise-another-1-mln-for-kincardine-medical-marijuana-facility-57616.html Supreme Pharmaceuticals (CSE:SL) says it will raise up to $1.0 million via a non-brokered private placement financing, with the funds to be used for the continued development of its Kincardine medical marijuana facility.

The company will issue up to 3.12 million units at a price of 32 cents apiece. Every unit will be made up of one common share, and one half of a share purchase warrant, with each whole warrant entitling the holder to buy an additional share for 50 cents, for a period of two years from closing.

The offering is expected to close November 17.

The news comes on the heels of Supreme raising a total of $2.6 million from a two-part financing earlier this month. The Vancouver, BC-based company will put all the money towards the development of its Kincardine medical marijuana facility, which is approaching the production phase. 

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility. 

In September, Supreme said that it anticipates being ready for the pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Late last month, Supreme also appointed start-up maven Chris Bechtel to its advisory board as the company gets ready to usher in a new development phase. Bechtel launched a small oil and gas business in Houstun Texas in 1983 that was sold to in 2006 to Weatherford International, one of the largest global providers of oil and gas services. 

Bechtel also has experience in the medical marijuana industry, after investigating the medical benefits of cannabis for an immediate family member. He has since become a private investor in over a half a dozen companies in the cannabis sector, as well as become a consultant and advisor to these businesses. 

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Thu, 23 Oct 2014 10:43:00 -0400 https://www.proactiveinvestors.com/companies/news/103798/supreme-to-raise-another-1-mln-for-kincardine-medical-marijuana-facility-57616.html
<![CDATA[News - Supreme raises $2.6 mln in latest financing for Kincardine medical marijuana facility ]]> https://www.proactiveinvestors.com/companies/news/103541/supreme-raises-26-mln-in-latest-financing-for-kincardine-medical-marijuana-facility-57231.html Supreme Pharmaceuticals (OTCBB:SPRWF) (CSE:SL) says it has closed the final tranche of its private placement financing, raising a total of $2.6 million in proceeds from two parts.

The company issued a total of 10.45 million common shares and 5.22 million warrants in the two tranches, of which 1.79 million common shares and 897,000 warrants were issued in the last tranche (at 25 cents per unit) for close to $449,000 in proceeds. 

Each warrant can be used to buy an additional common share of the company at a price of 50 cents, up until October 6 of next year.

The Vancouver, BC-based company will put the money towards the development of its Kincardine medical marijuana facility, which is approaching the production phase. 

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility. 

Last month, Supreme said that it anticipates being ready for the pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

In late September, Supreme also appointed start-up maven Chris Bechtel to its advisory board as the company gets ready to usher in a new development phase. Bechtel launched a small oil and gas business in Houstun Texas in 1983 that was sold to in 2006 to Weatherford International, one of the largest global providers of oil and gas services. 

Bechtel also has experience in the medical marijuana industry, after investigating the medical benefits of cannabis for an immediate family member. He has since become a private investor in over a half a dozen companies in the cannabis sector, as well as become a consultant and advisor to these businesses. 

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Mon, 06 Oct 2014 09:26:00 -0400 https://www.proactiveinvestors.com/companies/news/103541/supreme-raises-26-mln-in-latest-financing-for-kincardine-medical-marijuana-facility-57231.html
<![CDATA[News - Supreme Pharmaceuticals appoints start-up expert to its advisory board ]]> https://www.proactiveinvestors.com/companies/news/103387/supreme-pharmaceuticals-appoints-start-up-expert-to-its-advisory-board-56988.html Emerging medical marijuana producer Supreme Pharmaceuticals (OTCBB:SPRWF) (CSE:SL) has appointed start-up maven Chris Bechtel to its advisory board. 

Bechtel launched a small oil and gas business in Houstun Texas in 1983 that was sold to in 2006 to Weatherford International, one of the largest global providers of oil and gas services. 

He continues to run the original labs business as well as other divisions at Weatherford, representing total revenues of about $500 million. Bechtel also has experience in the medical marijuana industry, after investigating the medical benefits of cannabis for an immediate family member. 

He has since become a private investor in over a half a dozen companies in the cannabis sector, as well as become a consultant and advisor to these businesses. 

"We are thrilled by this addition to our team," said president and chief executive David Stadnyk. 

"Chris has a deep understanding of the cannabis industry, knows how to grow and run a large multinational business, and brings great strategic value to the company." 

The Vancouver, BC-based company is developing its Kincardine medical marijuana facility, which is approaching the production phase. Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility. 

Supreme said last week that it anticipates being ready for the pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

"Growing a fledgling startup into a successful international business was one of the most gratifying experiences of my career," said Bechtel. 

"Supreme is well on its way to taking the same journey, and I am excited to be able to support that process in an industry that can bring so many benefits to so many people."        

On Monday, Supreme said it closed the first tranche of its private placement financing, raising a total of $2.2 million so far. 

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Tue, 23 Sep 2014 10:39:00 -0400 https://www.proactiveinvestors.com/companies/news/103387/supreme-pharmaceuticals-appoints-start-up-expert-to-its-advisory-board-56988.html
<![CDATA[News - Supreme closes first tranche of financing, raises $2.2mln so far for Kincardine facility ]]> https://www.proactiveinvestors.com/companies/news/103354/supreme-closes-first-tranche-of-financing-raises-22mln-so-far-for-kincardine-facility-56958.html Supreme Pharmaceuticals (CSE:SL) says it has closed the first tranche of its private placement financing, raising a total of $2.2 million so far. 

The emerging medical marijuana producer issued 8.96 million units at a price of 25 cents apiece, which included 8.96 million common shares and 4.48 million warrants. Every warrant is good for one additional common share at a price of 50 cents, before September 22, 2015.

The company, in its statement released earlier Monday, said directors, senior officers and other insiders of Supreme bought up a total of 660,000 units in the financing. 

The Vancouver, BC-based company is planning to use the new funds to develop its Kincardine medical marijuana facility, which is approaching the production phase, as well as for general working capital.

Due to strong support from the local community, Supreme has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility. 

Supreme said last week that it anticipates being ready for the pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

The company's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been pre-approved to produce 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Based on the number of investors who have already submitted subscription agreements for the final tranche of its financing, Supreme said it expects to move quickly towards a second closing before the end of this month.

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Mon, 22 Sep 2014 10:27:00 -0400 https://www.proactiveinvestors.com/companies/news/103354/supreme-closes-first-tranche-of-financing-raises-22mln-so-far-for-kincardine-facility-56958.html
<![CDATA[News - Supreme Pharma hires Merriman Capital as its capital markets advisor ]]> https://www.proactiveinvestors.com/companies/news/103311/supreme-pharma-hires-merriman-capital-as-its-capital-markets-advisor-56894.html Supreme Pharmaceuticals (CSE:SL) says it has hired investment bank Merriman Capital, a subsidiary of Merriman Holdings, as its capital markets advisor. 

Merriman will act as principal american liaison to Supreme in connection with its US operations, according to the Vancouver, BC-based company's statement released late Wednesday. 

"We welcome Supreme to our platform of Capital Markets Advisory clients," said managing director and head of the capital markets advisory group, Douglas Rogers.

"Supreme has a unique market opportunity, executing its vertically integrated full suite of services for the medicinal marijuana industry within Canada."

Earlier this week, Supreme said it had made significant progress in the construction and required security implementation at its 342,000 square foot greenhouse facility in Kincardine, Ontario. 

The company said that due to strong support from the local community, it has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

Supreme anticipates being ready for the pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year. 

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been pre-approved to produce 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

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Thu, 18 Sep 2014 11:40:00 -0400 https://www.proactiveinvestors.com/companies/news/103311/supreme-pharma-hires-merriman-capital-as-its-capital-markets-advisor-56894.html
<![CDATA[News - Supreme Pharma on track for medical marijuana production before year-end ]]> https://www.proactiveinvestors.com/companies/news/103282/supreme-pharma-on-track-for-medical-marijuana-production-before-year-end-56857.html Medical marijuana company Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) says it has made significant progress in the construction and required security implementation at its 342,000 square foot greenhouse facility in Kincardine, Ontario. 

The company said that due to strong support from the local community, it has been able to move quickly to implement its proposed plan to produce up to 24 million grams of medical marijuana, for which it received conditional pre-approval from Health Canada in January.

To move to post-license production status, the company has to adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. Health Canada also has to perform a final inspection of the facility. 

Supreme said Wednesday it is already in receipt of the required security clearances for its key personnel, and has received all necessary approvals from the municipality, local law enforcement and local fire authorities. 

Marcomm Security Systems Group is currently working to complete the installation and commissioning of the electronic security systems to be used at the greenhouse, the company said. 

A level 8 storage vault capable of housing the company's production has been installed and the remaining physical security measures are near completion, according to Supreme's statement.

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year. 

The company said it anticipates being ready for the pre-license inspection by Health Canada to verify its compliance with the requirements of the new MMPR (Marijuana for Medical Purposes Regulations) program in November.

"Due to its size, local support the operational plan developed by management, the Greenhouse presents the opportunity to produce a large volume of high-quality, low-cost medical marijuana by applying commercial agriculture technology combined with the natural advantages of a greenhouse," said president and chief executive officer, David Stadnyk, in the release.

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been pre-approved to produce 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Canada's new MMPR program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

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Wed, 17 Sep 2014 09:28:00 -0400 https://www.proactiveinvestors.com/companies/news/103282/supreme-pharma-on-track-for-medical-marijuana-production-before-year-end-56857.html
<![CDATA[News - Supreme updates on financing as it announces new brand, website ]]> https://www.proactiveinvestors.com/companies/news/103092/supreme-updates-on-financing-as-it-announces-new-brand-website-56579.html Supreme Pharmaceuticals (CSE:SL) says that its up to $5 million private placement offering is anticipated to stay open until September 19, and that it reserves the right to either reject subscriptions, allocate on a pro ratas basis or increase the size of the financing in the event there is an over subscription of shares. 

The medical marijuana company said that as at September 3, any existing shareholder of Supreme will be eligible to purchase units under the recently adopted "existing security holder" prospectus exemption everywhere in Canada except Ontario and Newfoundland.

Under the new regulation, there is no longer a need for an existing shareholder to qualify under the accredited investor exemption in order to participate in the financing. 

The company is offering up to 20 million units at a price of 25 cents apiece, for total proceeds of up to $5.0 million to existing shareholders. 

The update on the financing came as Supreme undertook a major rebranding, saying it has developed a new website infrastructure complete with online store, corporate information, news, doctor's hub and other features. 

The new brand and website are anticipated to launch next Monday, the company said.

Supreme currently has a "pre-approved" license for a medical marijuana facility in southern Ontario, Canada. To move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. 

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year.  It recently said that construction is progressing efficiently, and that it anticipates inviting both Health Canada and the RCMP for a final security inspection in the early fall. 

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been approved for its proposed MMPR license for 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Canada's new MMPR (Marijuana for Medical Purposes Regulations) program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

Health Canada has been inundated with application requests, as the department predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

The funds from Supreme's offering will be used to finance the development of its new facility. 

"The amendment to the financing is an avenue that allows us to include our valued shareholders that wish to participate in our current placement," said a company director in a statement released earlier Thursday. 

"In addition, the new brand and fully integrated website bring the company one step closer to its goal of becoming a commercial producer of medical marijuana." 

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Thu, 04 Sep 2014 13:25:00 -0400 https://www.proactiveinvestors.com/companies/news/103092/supreme-updates-on-financing-as-it-announces-new-brand-website-56579.html
<![CDATA[News - Supreme Pharma appoints seasoned executive VP ]]> https://www.proactiveinvestors.com/companies/news/103052/supreme-pharma-appoints-seasoned-executive-vp-56524.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) has appointed Brayden R. Sutton as executive vice president, the company said Thursday. 

Supreme currently has a "pre-approved" license for a medical marijuana facility in southern Ontario, Canada. To move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. 

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year. It recently said that construction is progressing efficiently, and that it anticipates inviting both Health Canada and the RCMP for a final security inspection in the early fall. 

Sutton will be responsible for overseeing operations, assisting in the overall design and completion of the facilities, marketing, financing and business development.        

He has been involved on the research and analysis side of cannabis and cannabis related businesses for over 10 years, according to Supreme's statement released earlier Thursday.           

Sutton has more than 12 years of experience in the capital markets as an investor and financier since 2002. He is also president and CEO of CannabisHealth.com.        

"We are very pleased Brayden is joining the company as he will be a great addition to our management team with his thorough knowledge of the industry and deep understanding of our business," said president and chief executive officer, David Stadnyk.

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been approved for its proposed MMPR license for 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Canada's new MMPR (Marijuana for Medical Purposes Regulations) program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

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Thu, 28 Aug 2014 16:29:00 -0400 https://www.proactiveinvestors.com/companies/news/103052/supreme-pharma-appoints-seasoned-executive-vp-56524.html
<![CDATA[News - Supreme Pharma raising up to $5mln to fund development of Kincardine facility ]]> https://www.proactiveinvestors.com/companies/news/102847/supreme-pharma-raising-up-to-5mln-to-fund-development-of-kincardine-facility-56200.html Supreme Pharmaceuticals (CSE:SL) is raising up to $5 million via a non-brokered private placement financing, the medical marijuana company said Friday, with proceeds to be used to fund the development of its Kincardine facility. 

The placement will be made up of up to 20 million units at a price of 25 cents apiece, with each unit consisting of one common share and one half of a share purchase warrant. Every whole warrant will entitle the holder to buy an additional common share for 50 cents for a period of one year from closing.

The deal is expected to close around September 15, the company said. 

Supreme currently has a "pre-approved" license for a medical marijuana facility in southern Ontario, Canada. To move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. 

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year.  It recently said that construction is progressing efficiently, and that it anticipates inviting both Health Canada and the RCMP for a final security inspection in the early fall. 

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been approved for its proposed MMPR license for 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Canada's new MMPR (Marijuana for Medical Purposes Regulations) program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

Health Canada has been inundated with application requests, as the department predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

In July, Supreme also said that its newly formed US subsidiary is in the preliminary stages of evaluating medical cannabis investment opportunities within Arizona, including edibles, cultivation and dispensary operations, among other possibilities. 

"The US, like Canada, is an emerging market for cannabis usage medicinally, but there have been a limited number of states that have also legalized limited recreational use. 

This, together with the larger population of the US, makes it a natural market for the company to explore," said the company at the time.

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Fri, 15 Aug 2014 14:28:00 -0400 https://www.proactiveinvestors.com/companies/news/102847/supreme-pharma-raising-up-to-5mln-to-fund-development-of-kincardine-facility-56200.html
<![CDATA[News - Supreme Pharma's US subsidiary exploring potential marijuana investments in Arizona ]]> https://www.proactiveinvestors.com/companies/news/102417/supreme-pharmas-us-subsidiary-exploring-potential-marijuana-investments-in-arizona-55601.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) said Tueday that its newly formed US subsidiary is in the preliminary stages of evaluating medical cannabis investment opportunities within Arizona, with shares rising almost 6 percent on the back of the news.

The company told investors, in a statement released earlier today, that these opportunities include edibles, cultivation, and dispensary operations, among other possibilities. 

Supreme cautioned that there is no guarantee that an acquisition will be made, however.

Shares rallied 5.9 percent to 9 Canadian cents this morning, extending year-to-date gains to 80 percent. 

"The US, like Canada, is an emerging market for cannabis usage medicinally, but there have been a limited number of states that have also legalized limited recreational use. This, together with the larger population of the US, makes it a natural market for the company to explore," said the company. 

Indeed, Colorado became the first US state earlier this year to open recreational marijuana stores, with Washington becoming the second US state to allow pot sales to adults in July. Washington has issued its first 25 licenses to outlets under a heavily regulated and taxed system approved by voters in November 2012.

Arizona currently allows medicinal use of cannabis, and it is expected that it will allow for recreational use in the future. Supreme is planning to use the state as a launch pad to enter the US market, and evaluate additional acquisitions in states such as Nevada, Florida and others as they gradually allow for both medicinal and recreational marijuana sales.

Senior management is visiting the state of Arizona this week to begin looking at acquisition prospects, Supreme said.

"In an effort to mitigate market and legislative risk, we would like to be an international company," it said.

"We believe Arizona is a favourable market and we will begin evaluating various related ventures there to complement our Canadian property." 

Supreme currently has a "pre-approved" license for a medical marijuana facility in southern Ontario, Canada. To move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. 

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year.  It said Tuesday that construction is progressing efficiently, and that it anticipates inviting both Health Canada and the RCMP for a final security inspection in the early fall. 

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been approved for its proposed MMPR license for 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. 

Canada's new MMPR (Marijuana for Medical Purposes Regulations) program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

Health Canada has been inundated with application requests, as the department predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. So far, health regulators have only granted 13 licenses. 

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Tue, 22 Jul 2014 10:45:00 -0400 https://www.proactiveinvestors.com/companies/news/102417/supreme-pharmas-us-subsidiary-exploring-potential-marijuana-investments-in-arizona-55601.html
<![CDATA[News - Supreme Pharma proposes share consolidation in efforts to raise funds ]]> https://www.proactiveinvestors.com/companies/news/102372/supreme-pharma-proposes-share-consolidation-in-efforts-to-raise-funds-55542.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL), a company that is close to building a medical marijuana facility in Ontario, said Friday that it will be proceeding with a share consolidation so that its corporate structure is more in line with its peers.

The move will see every holder of five currently issued and outstanding shares receive 1 new share, the company said. Following completion, Supreme will have about 58.09 million new shares, compared ot the currently issued and oustanding 290.4 million shares. 

Supreme is not planning to change its name or trading symbol.

"Having less shares outstanding trading at a proportionately higher price should also facilitate the raising of the additional funds needed to complete construction at our Southern Ontario project so we can meet the conditions of our pre-build licence," said president and CEO David Stadnyk.

"That project is moving ahead on schedule and on budget," he added, referring to Supreme's "pre-approved" license in Southern Ontario for a medical marijuana facility. 

To move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot operation. If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year.   

Its management has already met with government officials and community stakeholders in the township where its Southern Ontario green house facility is located, and does not forsee any concerns in this area as construction progresses. 

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been approved for its proposed MMPR license for 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. The plan is to bring in the first phase of 60,000 square feet in the fourth quarter, with 6 to 10 strains of medicinal cannabis.

Canada's new MMPR (Marijuana for Medical Purposes Regulations) program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

Health Canada has been inundated with application requests, as the department predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. So far, health regulators have only granted 13 licenses. 

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Fri, 18 Jul 2014 11:02:00 -0400 https://www.proactiveinvestors.com/companies/news/102372/supreme-pharma-proposes-share-consolidation-in-efforts-to-raise-funds-55542.html
<![CDATA[News - Supreme Pharmaceuticals rallies over 17% amid Washington buzz ]]> https://www.proactiveinvestors.com/companies/news/102287/supreme-pharmaceuticals-rallies-over-17-amid-washington-buzz-55412.html Shares of Supreme Pharmaceuticals (CSE:SL), which has the largest pre-approved Marijuana for Medical Purposes Regulations (MMPR) license yet awarded, surged on Monday, up more than 17% at last check. 

The gains come amid the marijuana buzz created out of Washington, which last week became the second U.S. state to allow pot sales to adults. Seattle's first and only recreational marijuana store had to close on Friday after running out of stock, just three short days after retail sales began in Washington. The state issued its first 25 licenses to outlets under a heavily regulated and taxed system approved by voters in November 2012.

Supreme, whose medical marijuana facility in Canada will seek to take advantage of the sweeping regulatory changes underway on both sides of the border, rallied more than 17.6 percent to 10 Canadian cents on the Canadian Securities Exchange as 2:47pm ET Monday. Since listing on the exchange in April, the stock price has doubled.

Canada's new MMPR program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

Health Canada has been inundated with application requests, as the department predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. So far, health regulators have only granted 13 licenses. 

At present, Supreme has a “pre-approved” license in Southern Ontario for a medical marijuana facility, and to move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot operation.

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year.     

Its management has already met with government officials and community stakeholders in the township where its Southern Ontario green house facility is located, and does not forsee any concerns in this area as construction progresses. 

Supreme's biggest competitive advantage against all the other junior Canadian entrants in the medical marijuana sector is that it has been approved for its proposed MMPR license for 24,000 kg per year. Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market. The plan is to bring in the first phase of 60,000 square feet in the fourth quarter, with 6 to 10 strains of medicinal cannabis.

The value of the medical marijuana market in Canada is seen growing to as much as $1.5 billion annually, but if Washington and Colorado are any indication, recreational usage could bring the value to the multi-billion range.

Supreme also has another facility in British Columbia’s South Okanagan, and an application for an MMPR license to cover this operation has already been submitted. 

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Mon, 14 Jul 2014 15:22:00 -0400 https://www.proactiveinvestors.com/companies/news/102287/supreme-pharmaceuticals-rallies-over-17-amid-washington-buzz-55412.html
<![CDATA[News - Supreme Pharmaceuticals progresses application process for South Okanagan ]]> https://www.proactiveinvestors.com/companies/news/101870/supreme-pharmaceuticals-progresses-application-process-for-south-okanagan--54838.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) said Wednesday that its South Okanagan facility on which it has an option to acquire has received a request for additional information from Health Canada on the application for a medical marijuana producer's license.

The company told investors that the facility has already replied to the Department of Health Canada's request, which asked for additional information on external and internal security measures, updated site survey and aerial photographs, principal and proposed technical employees, and details on record keeping and information handling procedures.

The application by Supreme's facility is for a producer's license under Canada's new federal regulations, the Marijuana for Medical Purposes Regulations (MMPR), which were introduced back in April and led to a whole surge of new entrants into the sector.

The MMPR program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

Health Canada has been inundated with application requests, as the department predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. So far, health regulators have only granted 13 licenses. 

Supreme said the vendor of the South Okanagan facility has hired external consultants and specialists to help with the application process, who have been able to respond and provide the requested documentation quickly. 

Separately, the company noted that its management met with government officials and community stakeholders in the township where its second Southern Ontario green house facility is located, and does not forsee any concerns in this area as construction progresses. At present, Supreme has a “pre-approved” license in Southern Ontario, and to move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot facility.

If all goes according to plan, the company will be in position to start cultivation soon, and thus to turn on some significant revenue taps, with plans to start production in the fourth quarter of this year.           

"We are pleased to be making headway on both projects, being the South Okanagan and Southern Ontario facilities," said Supreme's management in a release Wednesday.

"The company is moving forward and will continue to update shareholders on continued progress."

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Wed, 18 Jun 2014 09:49:00 -0400 https://www.proactiveinvestors.com/companies/news/101870/supreme-pharmaceuticals-progresses-application-process-for-south-okanagan--54838.html
<![CDATA[News - Massive license puts Supreme Pharmaceuticals in medical marijuana driver’s seat ]]> https://www.proactiveinvestors.com/companies/news/101717/massive-license-puts-supreme-pharmaceuticals-in-medical-marijuana-drivers-seat-54633.html The rush into the growing medical marijuana business in reaction to new regulations adopted by the Canadian government in April 2014 has been nothing short of astounding.  It goes to reason, of course, that the quality of participants is varied – some companies are quite advanced, some are still finding their feet, and many fall in between the two extremes.  Only one, however, lays claim to having the largest pre-approved Marijuana for Medical Purposes Regulations (MMPR) license yet awarded, and that is Supreme Pharmaceuticals (CSE:SL) (OTCBB:SPRWF).

“The big competitive advantage we have is that we have been approved for our proposed MMPR license for 24,000 kg per year, and I know of no bigger license than that,” explains Supreme’s president and CEO David Stadnyk, referring to the company’s Southern Ontario facility acquired earlier this month.  “All we have to do is implement our security, which is already underway.”

At present, Supreme has a “pre-approved” license, and to move to post-license production status, the company must adopt the high-level security measures required by Health Canada at the 342,000 square foot facility.

“We are currently implementing all of the security Health Canada requires,” says Stadnyk.  “We are getting Level 9 security, which is the highest level.”

If all goes according to plan, Supreme Pharmaceuticals will be in position to start cultivation, and thus to turn on some significant revenue taps.  “We are planning for the fourth quarter of this year,” says Stadnyk in discussing the company’s target date for initial production.  “It could be the first quarter of next year if approvals run a bit longer, but we are targeting the fourth quarter.”

Given the size of the facility, Supreme will bring on production gradually, tailoring output to meet the strain and volume demands of the market.  “We will bring in the first phase of 60,000 square feet in the fourth quarter, with 6 to 10 strains of medicinal cannabis,” Stadnyk explains.

The flexibility to compartmentalize the facility is important, as uncertainty surrounding Health Canada’s ultimate regulatory direction introduces a similar degree of uncertainty into sales forecasts for marijuana growers.

The MMPR program was developed to replace the Medical Marijuana Access Regulations (MMAR) license regime, which had proven difficult to monitor owing to the many thousands of small-scale growers it covered.  The idea behind MMPR is to put licensed growing into the hands of a much smaller number of large commercial operations.

With the changeover scheduled to take place April 1, Health Canada chose at the last minute to hold over the MMAR program for an indefinite period owing to what it called “ongoing litigation and uncertainty arising from court decisions.”

“We believe the government will rule that the MMAR for individual-use licenses can’t happen anymore, and that next year there will be a huge spike in demand,” says Stadnyk.

Either way, the economics Stadnyk lays out for the facility point to a healthy income statement once production reaches a certain level.  “The costs are $1.50 to $2.00 per gram for us to produce, and we will have a range of sales prices of $2.00 to $12.00, with the average being in the $8.00 dollar range,” he explains.

Stadnyk puts the Canadian medical marijuana market at 30,000 to 40,000 users, many of which are currently covered under the MMAR program.  He sees the value of the market growing to as much as $1.5 billion annually.  “That’s just if it stays medical marijuana,” he says.  “If it goes recreational, we are looking at a multi-billion dollar market.”

Supreme’s CEO predicts a challenge under the North American Free Trade Treaty at some point to bring the potential for cross-border commerce in marijuana, perhaps not only on the medical side but also potentially in the recreational use segment.  And there is also the possibility of export sales to countries “such as Italy, Spain, and the Netherlands that have the regulatory process in place for selling marijuana.”

Supreme will need to find more cash at some point, but with approximately $1.2 million at its disposal, the company is comfortable in its ability to take the Ontario facility to the point at which Health Canada provides it with a stamp of approval to begin growing.

The company has another facility as well in British Columbia’s South Okanagan, and an application for an MMPR license to cover this operation has been submitted.  “We have received comments from Health Canada and are working on those comments.  Right now it is 3,000 sq feet.  The application looks good, the people are good, but we are still waiting.”

Supreme now boasts strong personnel on both sides of the country, as each facility had experienced people in place when it was acquired.  “Our acquisition in Ontario comes with 10 years of growing experience in the MMAR market and two lawyers who know the industry really well,” Stadnyk says.  “Supreme has all the ingredients, including the right team in place.”

“The reality is,” says Stadnyk, “that the company has one of the largest MMPRs to be awarded, and we intend on capitalizing on that and serving medicinal cannabis patients from coast-to-coast with high quality, low cost cannabis.”

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Mon, 09 Jun 2014 13:25:00 -0400 https://www.proactiveinvestors.com/companies/news/101717/massive-license-puts-supreme-pharmaceuticals-in-medical-marijuana-drivers-seat-54633.html
<![CDATA[News - Supreme Pharmaceuticals nears production at medicinal marijuana facility as construction starts on security upgrades ]]> https://www.proactiveinvestors.com/companies/news/101689/supreme-pharmaceuticals-nears-production-at-medicinal-marijuana-facility-as-construction-starts-on-security-upgrades-54603.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) has begun the construction of the required security upgrades on the Ontario greenhouse that it just acquired to produce medical marijuana. 

The company said it is working with mechanical engineers, security consultants, architects, fire and rescue consultants, electricians, quality assurance specialists and medical marijuana production specialists to ensure the facility meets or exceeds all requirements. 

The 342,000 square foot facility already has a pre-build license for the production of medical marijuana from Health Canada, but is required to complete security upgrades and endure a final inspection before receiving the final federal license. 

Under the terms of the license, the company will be able to build out and operate the facility which is capable of producing up to 24 million grams of medicinal marijuana per year. 

Construction has started on the core production and processing rooms and the high security areas of the facility, including a custom-designed vault, which will be about 1,200 square feet in area with insulated walls and locked steel security doors.

The company said the vault will be designed to meet Health Canada's requirements to store dried marijuana. 

"We are making the necessary investments to ensure our operation meets all federal, provincial and municipal requirements and exceeds all fire and safety regulations," said president and CEO of the Supreme-owned subsidiary that will operate the facility, Peter Herburger.           

Initial production is expected as soon as the fourth quarter of this year, with the company expecting it will take about 90 days to construct and implement the required security measures.

The introduction in April of the Marijuana for Medical Purposes Regulations (MMPR) in Canada makes it so that the only legal access to marijuana for medical use is now exclusively through producers that are licensed under the new regulations. Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

Just over two months since the new Federal rules kicked in, companies are moving quickly to assert themselves in a market that is set for explosive growth by anyone's standards. So far, only 14 licenses have been granted to date under MMPR, but Health Canada has been swamped by the number of applications from junior entrants given the expected growth in medical marijuana users in Canada over the next decade.

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Fri, 06 Jun 2014 09:23:00 -0400 https://www.proactiveinvestors.com/companies/news/101689/supreme-pharmaceuticals-nears-production-at-medicinal-marijuana-facility-as-construction-starts-on-security-upgrades-54603.html
<![CDATA[News - Supreme Pharmaceuticals closes deal for Southern Ontario medical marijuana facility, production expected in Q4 ]]> https://www.proactiveinvestors.com/companies/news/101620/supreme-pharmaceuticals-closes-deal-for-southern-ontario-medical-marijuana-facility-production-expected-in-q4-54513.html Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) said Tuesday it has closed its acquisition of the Southern Ontario-based company that holds a pre-build license to produce medical marijuana. 

To move from pre-build status to post-license production, Supreme said it must still complete the installation of the required security measures. Health Canada also still has to complete its final inspection of the facility. 

Initial production is expected by the fourth quarter of this year, Supreme said. The target company is anticipating it will take approximately 90 days to implement the required security measures. 

To acquire the company, Supreme has agreed to issue a total of 93.2 million shares at a deemed price of 7 cents apiece, half of which will be given at closing with the other half to be issued once the full license is granted. 

The 342,000 square foot facility, which is located 100 miles outside of Toronto, is capable of producing up to 24 million grams of medical marijuana per year. 

"This first acquistion by Supreme is a very real step in becoming a medical marijuana producer in Canada," said management in the release.

"This project has both the scale and the timing to make the company one of the leaders in this new field. While we continue to look at additional acquisitions, our immediate focus is to get this facility into production."

The introduction of the Marijuana for Medical Purposes Regulations (MMPR) in Canada makes it so that the only legal access to marijuana for medical use is now exclusively through producers that are licensed under the new regulations. Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

Just two months since the new Federal rules kicked in, companies are moving quickly to assert themselves in a market that is set for explosive growth by anyone's standards. So far, only 12 licenses have been granted to date under MMPR, but Health Canada has been swamped by the number of applications from junior entrants given the expected growth in medical marijuana users in Canada over the next decade.

Supreme's latest deal follows a similar transaction earlier this year, which saw the company formally submit an application for an MMPR license for its facility in the South Okanagan in BC, for which it recently bought an option to acquire.

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Tue, 03 Jun 2014 09:21:00 -0400 https://www.proactiveinvestors.com/companies/news/101620/supreme-pharmaceuticals-closes-deal-for-southern-ontario-medical-marijuana-facility-production-expected-in-q4-54513.html
<![CDATA[News - Supreme Pharma closes on Southern Ontario facility with pre-build medical marijuana license ]]> https://www.proactiveinvestors.com/companies/news/101464/supreme-pharma-closes-on-southern-ontario-facility-with-pre-build-medical-marijuana-license-54304.html Supreme Pharmaceuticals (CSE:SL)(OTCBB:SPRWF) has now closed its deal to acquire a 342,000 square foot green house in southern Ontario, where production of medical marijuana is set to commence shortly.

The facility, which is located 100 miles outside of Toronto, will begin producing after the installation of the required security measures and the subsequent receipt of final license approval under Canada's new federal regulations.

The company told investors Friday that it has already started the process of upgrading the property, which is located in a high-energy use industrial park next to an unlimited supply of electricity. Supreme also said the site has year-round access and is conveniently located in respect to shipping logistics. 

The news today follows Supreme's announcement earlier this week that it was visiting the facility as part of its due diligence efforts for the transaction. 

Under the terms of the deal, Supreme will pay $4.5 million for the facility, $1.0 million of which was already paid, with the remainder assumed under a vendor mortgage, payable on the second anniversary date from closing. No interest will accrue in the first year, with a rate of 7% in the second year.

The company said it appears that all local use permits are in place at the facility, such that production can begin immediately upon receipt of the final MMPR license. 

The introduction of the Marijuana for Medical Purposes Regulations (MMPR) makes it so that the only legal access to marijuana for medical use is now exclusively through producers that are licensed under the new regulations. Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

Just over six weeks since the new Federal rules kicked in, companies are moving quickly to assert themselves in a market that is set for explosive growth by anyone's standards. 

"We are pleased that this first step has been completed in Supreme achieving its goal of producing and selling medical marijuana," said management in the release Friday.

"While there is still significant work to be done, this bodes well for the company being able to execute its business plan."             

Supreme said it is now in the process of its due diligence review and negotiations of final agreements for the acquisition of the private company that holds the pre-build MMPR license for its 342,000 square foot facility. The acquisition is expected to close by the end of May.             

So far, only 12 licenses have been granted to date under MMPR, with many junior companies identifying a shortage given the expected growth in medical marijuana users in Canada over the next decade. Supreme's latest deal follows a similar transaction earlier this year, which saw the company formally submit an application for an MMPR license for its facility in the South Okanagan in BC, for which it recently bought an option to acquire.

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Fri, 23 May 2014 10:40:00 -0400 https://www.proactiveinvestors.com/companies/news/101464/supreme-pharma-closes-on-southern-ontario-facility-with-pre-build-medical-marijuana-license-54304.html
<![CDATA[News - Supreme Pharma to visit medical marijuana facility this week as part of due diligence ]]> https://www.proactiveinvestors.com/companies/news/101387/supreme-pharma-to-visit-medical-marijuana-facility-this-week-as-part-of-due-diligence-54206.html Shares of Supreme Pharmaceuticals (CSE:SL)(OTCBB:SPRWF) surged more than 14% on Friday after the medical marijuana company said that it is visiting the 342,000 square foot facility in Southern Ontario, which it has the option to purchase, early next week. 

The facility is located about 100 miles outside of Toronto, the company said. 

The visit, Supreme said, is part of the company's due diligence on the facility, where production is planned to begin upon the implementation of the required security measures and receiving a final medical marijuana producer's license under Canada's new federal regulations.

Under the terms of the agreement, Supreme has so far advanced an initial $250,000 to the current owner of the facility, and must pay another $750,000 by May 22 to close the transaction. Supreme said Friday that it has enough funds to make these payments.

With the total purchase price of the facility at $4.5 million, Supreme would own the property with a vendor mortgage of $3.5 million if it makes the second payment by May 22. The mortgage would be payable on the second anniversary date from closing, with no interest to accrue in the first year.

Less than six weeks since the new Federal rules kicked in that are aimed at commercializing the medical marijuana industry, companies are moving quickly to assert themselves in a market that is set for explosive growth by anyone's standards. 

The introduction of the Marijuana for Medical Purposes Regulations (MMPR) makes it so that the only legal access to marijuana for medical use is now exclusively through producers that are licensed under the new regulations. Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

"We are confident that the facility will be able to service a large grow operation from the details made out in the approved pre-build MMPR application, but will be inspecting the property in person," said Supreme's management in the release. 

"We will keep our community updated." 

The target facility has already been approved for a pre-build license under Canada's new federal regulations, under which it can produce up to 24 million grams of medicinal marijuana per year. 

Initial production is expected as soon as the fourth quarter of this year.

So far, only 12 licenses have been granted to date under MMPR, with many junior companies identifying a shortage given the expected growth in medical marijuana users in Canada over the next decade. Supreme's latest deal follows a similar transaction earlier this year, which saw the company formally submit an application for an MMPR license for its facility in the South Okanagan in BC, for which it recently bought an option to acquire.

Supreme's shares advanced 14.3% on Friday to settle at 8 cents, just a penny shy of its 52-week high.

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Tue, 20 May 2014 08:57:00 -0400 https://www.proactiveinvestors.com/companies/news/101387/supreme-pharma-to-visit-medical-marijuana-facility-this-week-as-part-of-due-diligence-54206.html
<![CDATA[News - Supreme Pharma makes second big move in medical marijuana space; stock surges ]]> https://www.proactiveinvestors.com/companies/news/101294/supreme-pharma-makes-second-big-move-in-medical-marijuana-space-stock-surges-54067.html Supreme Pharmaceuticals (CSE:SL) (OTCBB:SPRWF) has announced its second acquisition target in the medical marijuana space, signing a letter of intent to buy a Southern Ontario green house facility that has already been approved for a pre-build license under Canada's new federal regulations. 

Less than six weeks since the new Federal rules kicked in that are aimed at commercializing the industry, companies are moving quickly to assert themselves in a market that is set for explosive growth by anyone's standards. 

The introduction of the Marijuana for Medical Purposes Regulations (MMPR) makes it so that the only legal access to marijuana for medical use is now exclusively through producers that are licensed under the new regulations. Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

Supreme said Tuesday that under the terms of the MMPR license, its Southern Ontario-based target company can build out and operate a 342,000 square foot facility that can produce up to 24 million grams of medicinal marijuana per year. 

The stock was halted in advance of the news today, and resumed trading shortly after the announcement, with shares jumping 40% since that time to 7 Canadian cents.

The company has paid an initial $250,000 under the terms of the letter of intent, and must advance an additional $750,000 by May 22, at which time Supreme will own the facility, which covers about 7 acres and was originally built by Agriculture Canada. 

Supreme will also have a two-year period to pay the vendor another $4.5 million. 

To move from pre-build status to an official MMPR license, the target company must complete the installation of the required security measures, Supreme said, followed by a final inspection by Health Canada. 

Initial production is expected as soon as the fourth quarter of this year. Supreme took note Tuesday that it has the necessary funds to close on the initial portion of the transaction, which is still subject to final documentation.

Once Supreme owns the facility, it has also agreed to buy all of the shares of the target company in exchange for 45% of its own stock, subject to regulatory approval.

"This new acquisition is in line with Supreme's goal of becoming a national company with its potential acquisitions in both British Columbia and Southern Ontario," said Supreme's management in the release.

"We believe this transaction could provide significant upside potential for our shareholders. We have made this strategic acquisition to build long-term value for our shareholders." 

So far, only 12 licenses have been granted to date under MMPR, with many junior companies identifying a shortage given the expected growth in medical marijuana users in Canada over the next decade. 

Supreme's deal today follows a similar transaction earlier this year, which saw the company formally submit an application for an MMPR license for its facility in the South Okanagan in BC, for which it recently bought an option to acquire.

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Tue, 13 May 2014 11:38:00 -0400 https://www.proactiveinvestors.com/companies/news/101294/supreme-pharma-makes-second-big-move-in-medical-marijuana-space-stock-surges-54067.html
<![CDATA[News - Investors should be impressed with uniqueness of Supreme Pharma's potential: Financial Press ]]> https://www.proactiveinvestors.com/companies/news/101113/investors-should-be-impressed-with-uniqueness-of-supreme-pharmas-potential-financial-press-53810.html Shares of Supreme Pharmaceuticals (CSE:SL) were on the rise Thursday, up more than 16% on the back of an article in Financial Press that highlighted the company's fast progress in the medical marijuana sector. 

The sector is quickly developing, with new entrants continually flooding the field after new Federal rules kicked in on April 1, which are aimed at commercializing the medical marijuana industry. Under the new Health Canada program, the only legal access to marijuana for medical use will exclusively be through producers that are licensed under the new regulations.

So far, only 12 licenses have been granted to date, with many junior companies identifying a shortage given the expected growth in medical marijuana users in Canada over the next decade. 

Indeed, Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024, and that the number of users could increase 10-fold within five years. 

"Many companies have announced plans, but few even have any deals in the pipeline," the article read. 

Supreme Pharma is one of the few, with the company earlier this week formally submitting an application for a medical marijuana producer's license under Health Canada's regulations for its facility in the South Okanagan, for which it recently bought an option to acquire.

The facility is currently producing and selling marijuana under the older MMAP license, but with a recent court decision to extend the MMAP program, Supreme will be able to continue to operate under its current licenses while awaiting the new commercial Marijuana for Medical Purposes Regulations (MMPR) license. 

Supreme's plan is to use a roll-up strategy, where the main goal is to reduce costs through economies of scale. 

"Rollups may also have the effect of rationalizing competition in crowded and fragmented markets—which this space certainly is-- where there are often many small participants but room for only a few to succeed. In this regard, Supreme plans to acquire multiple producing facilities and apply for several separate MMPR licenses increasing the company's chances of a successful application," read the Financial Press article.

The author takes note of other medical marijuana entrants in Canada that have announced actual deals, all of which have seen "nicely enhanced stock activity." One of these, Enertopia (CSE:TOP), which announced a joint venture with Lexaria for a producing medical marijuana facility, rose from 10 cents in January to 80 cents at the end of March.

Earlier in April, Tweed Marijuana (CVE:TWD), one of the 12 producers licensed so far by Health Canada, listed on the Toronto Venture Exchange to become Canada’s first publicly traded medical marijuana company, and is already up more than 6,877% since listing on April 4. Its marijuana, which is expected to be ready for sale imminently, is produced out of a converted Hershey’s factory in Smiths Falls, Ontario.

"Investors should be impressed with the uniqueness of Supreme's potential. Unlike a lot of its peers, it has solid deals underway as it builds to become a leader in the Life Sciences/Medical Marijuana space: With deep R&D to bring other opportunities, therapies and products to market," the Financial Press article concludes.

"At this stage of development, investors would be wise to keep an eye on Supreme's progress, as evidenced by the milestones it has already achieved in a very short time frame."

Shares of Supreme were up 16.7% in Toronto on Thursday, at 3.5 cents. 

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Thu, 01 May 2014 13:18:00 -0400 https://www.proactiveinvestors.com/companies/news/101113/investors-should-be-impressed-with-uniqueness-of-supreme-pharmas-potential-financial-press-53810.html
<![CDATA[News - Supreme Pharmaceuticals formally submits medical marijuana producer license application for first facility ]]> https://www.proactiveinvestors.com/companies/news/101025/supreme-pharmaceuticals-formally-submits-medical-marijuana-producer-license-application-for-first-facility-53692.html Supreme Pharmaceuticals (CSE:SL)(OTCBB:SPRWF) said it has formally submitted an application for a medical marijuana producer's license under Health Canada's new regulations for its facility in the South Okanagan, for which it recently bought an option to acquire.

The producing facility, which will from now onwards be referred to as facility 1, formally submitted an application for a commercial license under the Marijuana for Medical Purposes Regulations (MMPR), which came into effect on the first day of this month.

The company said it hired specialist legal council as well as security and consulting firms with previous experience in the sector to ensure all areas of the Health Canada application criteria were met. The Health Canada program is aimed at commercializing the medical marijuana industry, with the only legal access to marijuana for medical use now exclusively through producers that are licensed under the new regulations.

Supreme said the current production facility has been constructed to "full commercial standards" and was designed to meet all relevant local and provincial government requirements. The company is confident that the existing facility will need only minor upgrades to meet the requirements of the new MMPR license, it added.

Supreme's statement read: "The company is aware that the licensing process involves a rigorous review of the applicant by multiple authorities and can take several months with no guarantee of success. 

"However, Facility 1's management team is confident that their prior experience and expertise in the industry and the high commercial standard of the facility will meet Health Canada's requirements for a full commercial MMPR license." 

The company also said it is currently reviewing other medical marijuana operations in Western Canada for possible investment. It already announced earlier this month that it is in talks to purchase another medical marijuana facility in the lower mainland of British Columbia.

For the South Okanagan facility, the company paid $150,000 in cash and 2.0 million common shares for the option to acquire the asset. The option will expire 60 days after receiving notice that a conditional commercial production license under Health Canada's new regulations has been granted. If Supreme exercises the option to purchase, it will have to pay $1.25 million in cash and common shares. 

Supreme is not the only one to sniff out the potential in the medical marijuana space, with a flood of new entrants --- listed on both the Canadian Securities Exchange the TSX Venture Exchange --- emerging in the past few months, including GreenBank Capital (CSE:GBC), Enertopia (CSE:TOP), Lexaria (CSE:LXX), Abattis Bioceuticals (CSE:ATT) and Next Gen Metals (CSE:N), among many others.  Health Canada predicts the burgeoning industry will be worth some $1.3 billion by 2024.

Earlier in April, Tweed Marijuana (CVE:TWD), one of the 12 producers licensed so far by Health Canada, listed on the Toronto Venture Exchange to become Canada’s first publicly traded medical marijuana company, and is already up more than 7,200% since listing on April 4. Its marijuana, which is expected to be ready for sale imminently, is produced out of a converted Hershey’s factory in Smiths Falls, Ontario.

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Mon, 28 Apr 2014 09:46:00 -0400 https://www.proactiveinvestors.com/companies/news/101025/supreme-pharmaceuticals-formally-submits-medical-marijuana-producer-license-application-for-first-facility-53692.html
<![CDATA[News - Supreme Pharma pays option to acquire medical marijuana facility; shares rise ]]> https://www.proactiveinvestors.com/companies/news/101005/supreme-pharma-pays-option-to-acquire-medical-marijuana-facility-shares-rise-53663.html Shares of Supreme Pharmaceuticals (OTCBB:SPRWF)(CSE:SL) were on the rise Friday, lately up by 10% after the company said it has completed the payment for the option to acquire a producing medical marijuana facility in the South Okanagan of British Columbia.

Finalizing the deal established earlier this week, the company paid the option price with $150,000 in cash and 2.0 million common shares. 

The option will expire 60 days after receiving notice that a conditional commercial production license under Health Canada's new regulations has been granted. If Supreme exercises the option to purchase, it will have to pay $1.25 million in cash and common shares. 

"After extensive due diligence on the industry and the facility, I am pleased to report that we have acquired the option on the facility," said president and CEO David Stadnyk in a statement on Tuesday, when the terms of the deal were announced. 

"This is pivotal step forward for the company in securing a non-resource asset and making the medical marijuana field our primary focus."

The facility, which has been in production since May of last year via personal license holders, includes three green houses, a purpose-designed drying room, processing machinery, an office, and indoor equipment storage. All electrical, plumbing, security, and related plant and equipment are built to full commercial standards, according to Supreme's statement. 

The company said the facility aims to produce "healthy, robust marijuana with high THC concentrations" rather than significant quantities of a lesser quality product. 

Supreme is planning to apply for a commercial license for the facility under the newly established Marijuana for Medical Purposes Regulations (MMPR), which came into effect on the first day of this month. The company said the application is nearly finished, and is anticipated to be submitted by the end of April. 

Specifically, the application will be for a production license of 45 kilograms per month of medical marijuana, to be produced in a significantly larger facility. Supreme cautioned that there is no guarantee the application will be successful. 

The decision to acquire the option for the South Okanagan facility comes after the company said it also began negotiations last week to purchase another producing medical marijuana facility in the lower mainland of British Columbia. 

The medical marijuana business has been a booming sector for Canadian juniors lately, with one after the other making their way into the arena as massive reform is underway in the industry. Health Canada estimates that the market could be worth $1.3 billion by 2024.

Shares of Supreme were up at 5 cents this morning, an increase of 10% on the Canadian Securities Exchange. 

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Fri, 25 Apr 2014 10:27:00 -0400 https://www.proactiveinvestors.com/companies/news/101005/supreme-pharma-pays-option-to-acquire-medical-marijuana-facility-shares-rise-53663.html