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Supreme Pharma Takes a Step Closer to Commercialization

Ryan Allway

June 6th, 2014

News, Top Story

[stockchart symbol=”SPRWF”]

Supreme Pharmaceuticals Inc. [stockquote symbol=”SPRWF”], an aspiring licensed producer of medical marijuana under Canada’s MMPR program, recently announced that it began the construction of required security upgrades to its recently acquired greenhouse designed to grow medical marijuana. With an MMPR license already in hand, the company only needs to pass the final Health Canada facility inspection.

“We are very excited to commence the construction of the security measures, including the security vault,” said President and CEO of the company’s operating subsidiary Peter Herburger in a recent press release. “We are making the necessary investments to ensure our operation meets all federal, provincial and municipal requirements and exceeds all fire and safety regulations.”

Under the terms of its MMPR license, the company can build and operate the 342,000 square foot facility capable of producing up to 24 million grams (24,000 kilograms) of medical marijuana per year. According to a prior press release, management anticipates initial production of medical marijuana beginning in the fourth quarter of 2014 after the security measures are implemented and approved.

“This project has both the scale and the timing to make the company one of the leaders in this new field,” said the company’s management team in the press release. “While we continue to look at additional acquisitions, our immediate focus is to get this facility into production.”

Under the terms of the acquisition agreement, the company issued a total of 93,211,063 shares at $0.07 per share with half issued on closing and half issued upon granting of the full MMPR license from Health Canada. Some 70 million or so shares will be released over a three-year period in 15% tranches every six months beginning on December 1, 2014 in order to limit shareholder dilution.

Supreme Pharmaceuticals Inc. shares fell 0.41% in mid-day trading on Friday afternoon following the news, but are trading up more than 400% so far this year.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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