JUNE 22, 2016
TORONTO, ONTARIO — (Marketwired) — 06/22/16 —
Supreme Pharmaceuticals Inc. (the “Company” or “Supreme”) (CSE:SL)(OTC PINK:SPRWF) via its wholly owned subsidiary is pleased to announce it has completed its first sale of cannabis genetics to another Canadian Licensed Producer (the “LP”). Pursuant to the transaction, Supreme provided the LP with 6 strains for production and future sale to the LP’s registered clients. The sale represents Supreme’s first MMPR revenue.
John Fowler, CEO of Supreme stated: “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 license for dried marijuana.”
Canadian Licensed Producers or applicant companies interested in receiving genetic starting materials may contact email@example.com.
Supreme is a Canadian publicly traded company committed to becoming a leading supplier of affordable medical cannabis through its wholly-owned subsidiary 7 Acres (formerly AMMCan) 7 Acres is a federally licensed producer of medical marijuana pursuant to the MMPR operating a 342,000 sq. ft. hybrid greenhouse facility. The Hybrid Greenhouse combines the best technology of indoor production with the efficiencies and sustainability of a greenhouse, in a single large- format production footprint. Please visit www.supreme.ca and www.7acres.comfor more information.
This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These risks and uncertainties include, but are not limited to, the Company’s ability to satisfy the conditions associated with its cultivation license, the Company’s ability to obtain a sales license and the related timing considerations, the ability to satisfy conditions to closing of the proposed materials supply transactions, performance by the Company and counter-parties of their obligations under the materials supply transactions, the availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, including uncertainties relating to the quality and quantities of production, and anticipated and unanticipated costs and delays. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com. This news release contains “forward- looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995.
Source: Supreme Pharmaceuticals Inc.