SEPTEMBER 03, 2014
September 3rd, 2014, Vancouver, BC – Supreme Pharmaceuticals Inc. (the “Company”) (“SL” – CSE) wishes to announce its intention to offer securities under the previously announcednon-brokered private placement (see news release dated August 15th, 2014) of up to 20 million units in the capital of the corporation (“Units”) at a price of $0.25 per Unit for aggregate gross proceeds of up to $5,000,000 (the “Financing”) to existing holders of common shares of the Corporation (“Existing Shareholders”). Any Existing Shareholder of Supreme as at September 3, 2014 will be eligible to purchase Units pursuant to the recently adopted “existing security holder”prospectus exemption in all Canadian jurisdictions other than Ontario and Newfoundland. Under the new regulation, there is no longer a need for an existing shareholder to qualify under the “accredited investor” exemption in order to participate in the Financing, however subscribers who do not receive advice regarding the suitability of their investment from a registered investment dealer may not purchase more than $15,000 of securities of Supreme under this exemption in any 12 month period.
In the event there is an over subscription of shares, the Company reserves the right to either reject subscriptions at its discretion, allocate on a pro rata basis or increase the size of the Financing. It is anticipated that the offering will be open until September 19th, 2014.
A director of the Company stated, “The amendment to the financing is an avenue that allows us to include our valued shareholders that wish to participate in our current placement. In addition, the new brand and fully integrated website bring the Company one step closer to its goal of becoming a commercial producer of medical marijuana.”
In addition, the company pleased to report that it has recently undergone a major rebranding and developed a new website infrastructure complete with online store, corporate information, news, doctor’s hub, and more. The new brand and website are anticipated to launch on Monday, September 8th, 2014 at www.supreme.ca.
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 closing date of the Offering, the availability of the “existing security holder” exemption for purchases of Units under the Financing and the launch date for the new website. 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 close the offering, the Units not being eligible for purchase through certain exemptions from the prospectus requirement and failure to launch the website as anticipated. 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.