SEPTEMBER 26, 2017
TORONTO, Sept. 26, 2017 /CNW/ – Supreme Pharmaceuticals Inc. (“Supreme” or the “Company“) (TSXV: FIRE) is pleased to announce exciting changes and additions to our senior leadership team as the Company prepares for growth.
“Our business is driven by a commitment to quality. The quality of our products, the quality of our facility and most of all: the quality of our leadership team,” said John Fowler, CEO of Supreme. “Since inception, we have focused on developing 7ACRES into a platform for cultivating high-quality cannabis at scale. Now that we have commenced commercial sales of our high-quality cannabis, we are preparing to accelerate our domestic and international growth initiatives. Ensuring that we have the right leadership and human resources is critical to supporting those growth initiatives.”
Navdeep Dhaliwal appointed President of Supreme
Mr. Navdeep Dhaliwal has been appointed President of Supreme after serving as Chief Financial Officer during the first stage of the Company’s development. Mr. Dhaliwal will focus on capital markets, international growth and strategic initiatives such as investments and acquisitions.
“Supreme’s advantage is a focus on cultivation with an ambition to be a leading cultivator of cannabis in federally legal and regulated markets, globally,” said Mr. Dhaliwal. “We view cultivation at scale as the riskiest aspect of the cannabis business, but also the area that offers a superior opportunity to build the most proprietary value. Our philosophy is that cultivation should be centralized and standardized. The 7ACRES intellectual property position we have built can be exported to global markets. Our strategy of aligning with retail distribution partners, including as we expand internationally, will ensure we continue to maintain focus on our core competency. We believe continuing to improve our intellectual property position in cultivation and leveraging it globally will create long-term shareholder value,” stated Mr. Dhaliwal.
Omer Azeez appointed VP Marketing & Regulatory Affairs
Supreme is pleased to announce the appointment of Mr. Omer Azeez to the position of Vice President, Marketing & Regulatory Affairs. Mr. Azeez brings over 18 years of domestic and international marketing experience in highly government-regulated markets from his tenure at Philip Morris International. Mr. Azeez’s track record of developing award-winning strategic initiatives targeting consumer and enterprise audiences strengthens Supreme’s wholesale distribution strategy.
Mr. Azeez stated, “I am excited to join the dynamic leadership team at Supreme and look forward to adding immediate value by leveraging my experience to establish our wholesale distribution models and long term marketing strategy.”
Dimitre Naoumov appointed Chief Financial Officer
Supreme is pleased to announce the appointment of Mr. Dimitre Naoumov, CPA, CA as Chief Financial Officer. Mr. Naoumov has spent nine years at KPMG LLP where he quickly rose to Senior Manager and a key member of the Technology, Media and Telecommunications practice based out of Toronto, Canada. Mr. Naoumov assisted some of Canada’s largest and most respected public companies with financial reporting, regulatory compliance and corporate transactions. Mr. Naoumov also has extensive experience helping small cap companies during the growth stage with corporate governance, disclosure and accounting best practices.
Mr. Naoumov commented, “I am enthusiastic to join Supreme at such an exciting time for the Company as well as the Canadian cannabis industry. The leadership team’s vision, passion and long term plan for growth is inspiring and I look forward to working with them to drive the business forward.”
Supreme anticipates the changes and additions to its leadership team will take effect by the end of October of this year.
Grant of Stock Options
In addition to the aforementioned leadership changes, the Company granted 3,005,000 stock options (each an “Option“) to various employees, directors and consultants pursuant to the Company’s Employee Stock Option Plan (the “Plan“). Each Option has an exercise price of $1.45 and is exercisable at any time prior to September 25, 2022, subject to the terms and conditions of the Plan.
Supreme is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside 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.com for more information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company’s periodic filings with Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, other factors could cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: regulatory or political change; limited operating history; and competition. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
Investor Relations: Phone: 416-630-7272 ext. 222, Email: IR@supreme.ca, Website: www.supreme.ca