APRIL 14, 2014
April 14th, 2014, Calgary, AB – Supreme Pharmaceuticals Inc. (the “Company”) (SPRWD – OTC) (“SL” – TSX.V) reports that the Company has entered into negotiations with a producing medical marijuana facility to acquire that business. This is in addition to the South Okanagan producing facility currently under evaluation. The parties have agreed to an exclusive 45-day negotiating period. There is no guarantee that an agreement will be reached and will subject to regulatory approval.
If Supreme is successful in securing an agreement with this producing company, of which there is no assurance, it will apply for a commercial MMPR licence in regard to this facility, and there is no guarantee that such a license will be granted. The facility is located in the lower mainland of British Columbia and currently operates under MMAP licensing; the business has been producing medical marijuana for several years on wholly owned property.
A further news release will be issued upon completion or termination of negotiations.
President and CEO, David Stadnyk stated: “Our goal is to secure several medical marijuana producing facilities, each with a MMPR license. There is no assurance that we will be able to secure such facilities. This is a critical year for MMPR licences and we plan on making several applications to Health Canada.”
SUPREME PHARMACEUTICALS INC.
President & CEO
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FORWARD LOOKING 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. This news release includes forward-looking statements with respect to the up grading of the facility, the timing on completetion of the MMPR License conditions and the start of production. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. 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 and such factors as the Company failing to finish the upgrading of the facility and put the same into production in accordance within the terms of the MMPR license. 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.