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Supreme Pharmaceuticals completes second warrant issue

Last updated: 12:42 21 Mar 2016 EDT, First published: 08:42 21 Mar 2016 EDT

1-Imperial-Innovations-(2)
"This incentive program further adds to our treasury and will allow us to quickly execute on our business plan"

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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