APRIL 25, 2016
TORONTO, ONTARIO — (Marketwired) — 04/25/16 —
Supreme Pharmaceuticals Inc. (the “Company” or “Supreme”) (CSE:SL)(OTC PINK:SPRWF) is pleased to announce the strengthening of its Board of Directors, following receipt of the federal license to cultivate marijuana at its 7 acre (342,000 sq. ft.) 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. Mr. 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. Mr. La Brier will be replacing Chris Bechtel, who has stepped down as both Chairman and Director. Mr. La Brier stated: “As a longstanding shareholder, I am excited to join the board and assist the management team in meeting its short 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 license in hand, I believe the road ahead for Supreme is bright.”
Mr. La Brier will be joined on the Board by Scott Walters. Mr. Walters is a former investment banker and hedge fund manager who has become a leading figure in the emerging marijuana industry. Mr. Walters was the start-up CEO 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.
In addition, Navdeep Dhaliwal, CA, a current director of Supreme, has been appointed the Chief Financial Officer. Mr. 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 $0.75.
Supreme is a Canadian publically traded company committed to becoming a leading supplier of affordable medical cannabis through its wholly-owned subsidiary AMMCan. AMMCan is a federally licensed producer of medical marijuana pursuant to the MMPR operating a 7 Acre 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.ammcan.com for more information.
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. 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 availability of further financing, consumer interest in its products, competition, regulation, operational and technological risks, 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.
Source: Supreme Pharmaceuticals Inc.