Supreme Enters Into Negotiations for an Additional Medical Marijuana Producing Facility
April 14 2014 - 8:00AM
Marketwired
Supreme Enters Into Negotiations for an Additional Medical
Marijuana Producing Facility
CALGARY, ALBERTA--(Marketwired - Apr 14, 2014) - Supreme
Pharmaceuticals Inc. (the "Company") (OTCBB:SPRWF) (TSX-VENTURE:SL)
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.
David
Stadnyk, President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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 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 harbor
provisions of the Private Securities Litigation Reform Act of
1995.
Supreme Pharmaceuticals Inc.(647)
340-6744info@supremepharmaceuticals.comwww.supremepharmaceuticals.comSupreme
Pharmaceuticals Inc.#772 Alastair Ross Technology Centre3553 31st
Street NWCalgary Alberta, T2L 2K7