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JV mining companies aren't prospering on the Canadian frontier like before. True business people don't stop when one opportunity is impeded - they pave new roads.
Unlike the other Canadian mining companies, Supreme Pharmaceuticals isn't the first medicinal-substance related venture for CEO, David Stadnyk. He co-founded Praxis Pharmaceuticals Inc. (now Pharmaxis Pharmaceuticals Inc.) and served as its President since August 2002. Check Stadnyk's business background and you'll see why Supreme is poised to do what the other mining-turned-marijuana related companies won't.
SPRWF
Morning, guys...looks like we're gearing up for a better day. Hopefully so and it extends the rest of the week.
SPRWF
Padlock applied!
SPRWF
My imaginary counsel just advised to plead the 5th on your inquiry.
:)
Haha. You might wanna give her a ring and find out what you can, so you can feel more solid about your potential entry.
More findings to come...
CFO George Tsafalas's Business Week profile:
Source: http://investing.businessweek.com/research/stocks/private/person.asp?personId=5645695&privcapId=225412256&previousCapId=3188588&previousTitle=SUPREME%20PHARMACEUTICALS%20INC
Chief Financial Officer, Eupraxia Pharmaceuticals Inc.
Background:
Mr. George Tsafalas serves as the Chief Executive Officer and President of Giant Exploration Inc. Mr. Tsafalas serves as the Chief Operating Officer of Canadian Energy Exploration Inc. He serves as the Chief Financial Officer of Eupraxia Pharmaceuticals Inc. He served as the Chief Financial Officer of Birch Lake Energy Inc., from July 27, 2010 to February 15, 2012. He served as the Chief Executive Officer and President of Canamex Resources Corp (Alternate Name: AXQP Inc) from April 11, 2008 to February 26, 2009. Mr. Tsafalas serves as the President and Chief Executive Officer of a Private Oil and Gas Exploration Company. Mr. Tsafalas has over ten years of senior management experience in the oil and gas sector, as well as in the hospitality industry and professional sports sectors. He served as Chief Financial Officer of Canadian Energy Exploration Inc., until September 2011. Mr. Tsafalas served as an Administration Consultant of Park Place Energy Corp. He served as the President and Chief Executive Officer Fairchild International Corporation from June 6, 2002 to November 15, 2004 and served as its Consultant since November 15, 2004. He served as the President and Chief Executive Officer of Energy Quest, Inc. from June 6, 2002 to November 15, 2004. From 2002 to 2006, he provided consulting roles and administrative contributions to various junior oil and gas companies. He has been a Director at Supreme Resources Ltd. since October 02, 2013. He serves as a Director of First Sahara Energy Inc. He has been a Director of Giant Exploration Inc since March 4, 2011. He served as a Director of Guerrero Exploration Inc. from March 29, 2010 to January 2013. He served as a Director of Canamex Resources Corp. from April 11, 2008 to February 26, 2009. He served as a Director of Canadian Energy Exploration Inc since August 5, 2008. Mr. Tsafalas served as a Director of Fairchild International Corporation from June 6, 2002 to November 15, 2004.
Board Members Memberships (Past - Present):
Director
First Sahara Energy Inc.
2002-2004
Former Chief Executive Officer, President and Director
Fairchild International Corp.
2008-2009
Former Chief Executive Officer, President and Director
Canamex Resources Corp.
2008-N/A
Chief Operating Officer
Canadian Energy Exploration Inc.
2010-2013
Former Director and Chairman of Audit Committee
Guerrero Exploration Inc.
2011-Present
Chief Executive Officer, President, Director and Member of Audit Committee
Giant Exploration Inc.
2013-Present
Director
Supreme Pharmaceuticals Inc.
CEO David Stadnyk's Business Week profile:
Source: http://investing.businessweek.com/research/stocks/people/person.asp?personId=534549&ticker=SL:CN&previousCapId=3188588&previousTitle=SUPREME%20PHARMACEUTICALS%20INC
David Alexander Stadnyk
Chief Executive Officer, President and Director, Supreme Pharmaceuticals Inc.
Background:
Mr. David Alexander Stadnyk, also known as Davis, has been the Chief Executive Officer at Supreme Resources Ltd since October 2013 and serves as its President. Mr. Stadnyk serves as the President of Fifth Avenue. He serves as the President and Chief Executive Officer of First Sahara Energy Inc. Mr. Stadnyk has been the Chief Executive Officer, President, Chief Financial Officer and Treasurer of Patch Energy Inc., since January 2003. He founded the TEAM 1040 AM Sports Radio Station. Mr. Stadnyk served as the Chief Executive Officer and President of Guerrero Exploration Inc. until January 2013. He served as Chief Operating Officer of Richland Resources Inc. from October 2007 to February 2008. Mr. Stadnyk has diverse experience in corporate management and finance. He owned Vancouver 86ers/Whitecaps Inc. He served as a Consultant of Patch International Inc. Mr. Stadnyk served as Secretary and Treasurer of Patch International Inc., and Praxis Pharmaceuticals Inc. from August 2002 to April 2006 and served as its Chairman, Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. He co-founded Praxis Pharmaceuticals Inc. (now Pharmaxis Pharmaceuticals Inc.) and served as its President since August 2002. Mr. Stadnyk served as President of Patch International Inc. from 1998 to 2006 and Secretary from June 19, 1998 to October 20, 2000. He served as a Financial Director of Pharmaxis Ltd. He served as the President of Patch Oilsands Ltd ("Oilsands") from August 31, 2002 to April 7, 2006. He served as the Chairman of Board, President and Secretary of Goanna Resources, Inc., (Now known as Fairchild International Corporation) from June 1997 to March 1999. Mr. Stadnyk served as a Consultant of Fairchild International Corp. since November 15, 2004. He served as the Chief Operating Officer of Shengrui Resources Co., Ltd. from October 2007 to February 2008. Mr. Stadnyk Founded Park Place Canada. He served as the Chairman of Park Place Energy Corp. from December 17, 2007 to May 13, 2008 and served as its Chief Executive Officer until November 2007 and President from July 30, 2007 to November 2007. He served as Principal Accounting Officer and Principal Financial Officer of Park Place Energy Corp. and its Secretary and Treasurer since 30 July 2007. He served as the President of Park Place International Company until May 2008. He served as the President of A.C. Global Capital Group Corp. from July 1999 to September 2002. He served as a Consultant of Micron Enviro Systems Inc (aka Britannia Mining Inc). He served as the Chief Executive Officer and President of Alexander News International Inc., from July 1994 to February 1997. He founded and served as the President of Starlight Sports and Entertainment Inc. He co-founded Arsenal Energy Inc. Mr. Stadnyk serves as the Chairman of Stadnyk Foundation Inc. He Founded the Vancouver Angels/Breakers, Vancouver's first Women's professional soccer team, and Vancouver Ravens Lacrosse team. He serves as the Chairman of Grand Slam Radio and Stadnyk Corporate Group. Mr. Stadnyk served as the Chairman of Starlight Sports & Entertainment, a sports entertainment company that owned the Vancouver Whitecaps and Vancouver Breakers, professional soccer teams, from October 1999 to May 2002. He served as an Honorary Chairman of Patch International Inc. since April 8, 2006. Mr. Stadnyk was a licensed stockbroker at Midland Walwyn Capital Inc., Yorkton Securities Inc., and Georgia Pacific Securities Corp. from 1988 to 1991 in Canada. He serves as a Director of First Sahara Energy Inc. Since February 2002, he has been a Director of Patch Energy Inc. Mr. Stadnyk has been Director at Supreme Resources Ltd since October 02, 2013. He serves as a Director of Fifth Avenue. He has been Director at Giant Exploration Inc. since July 26, 2011. He served as a Director of Guerrero Exploration Inc. since March 19, 2010. He served as an Independent Director of Birch Lake Energy Inc. from July 29, 2010 to December 31, 2011. Mr. Stadnyk served as a Director of Arsenal Energy Inc. (TSX: AEI), a Canadian oil and gas exploration company. From July 1997 to September 2000, Mr. Stadnyk served as an Executive Director of Alexander Cox & Co. He served as a Director of Canadian Energy Exploration Inc. from July 30, 2008 to March 24, 2011. He served as a Director of Patch International Inc., from June 19, 1998 to October 20, 2000 and again served as its Director from August 2002 to April 8, 2006. Mr. Stadnyk served as a Director of ST Online Corp. since July 2007. He served as a Director of Quantum Rare Earth Developments Corp. (aka Butler Resource Corp and NioCorp Developments Ltd). He served as a Director of Park Place Energy Corp. from July 6, 2007 to May 13, 2008. Mr. Stadnyk is a Graduate of the University of British Columbia.
Board Members Memberships (Past - Present):
Former Director
NioCorp Developments Ltd.
Director
Arsenal Energy, Inc.
Chief Executive Officer, President and Director
First Sahara Energy Inc.
2002-2006
Former President and Director
Patch International Inc., Prior to Reverse Merger with Damascus Energy Inc.
2002-N/A
Former Chief Executive Officer, President, Chief Financial Officer, Principal Accounting Officer, Treasurer and Director
Praxis Pharmaceuticals Inc.
2007-N/A
Former Director
ST Online Corp.
2007-2008
Former Chairman and President of Park Place International Company
Park Place Energy Corp.
2008-2011
Former Director and Member of Corporate Governance, Compensation & Nominating Committee
Canadian Energy Exploration Inc.
2010-2011
Former Independent Director and Member of Corporate Governance, Compensation & Nominating Committee
Birch Lake Energy Inc.
2010-N/A
Former Chief Executive Officer and President
Guerrero Exploration Inc.
2011-Present
Director and Chairman of Audit Committee
Giant Exploration Inc.
2013-Present
Chief Executive Officer, President and Director
Supreme Pharmaceuticals Inc.
David Stadnyk's LinkedIn profile:
http://ca.linkedin.com/pub/dir/David/Stadnyk
David Stadnyk
President and CEO at Supreme Pharmaceuticals Inc.
Canada | Financial Services
Current: Founder & Senior Partner at Stadnyk and Partners, President and CEO at Supreme Pharmaceuticals Inc., President and CEO at First Sahara Energy...
Past: Co-Founder and Director at Eupraxia Pharmaceuticals Inc., President and CEO at Guerrero Exploration Inc., Director at Birch Lake Energy Inc., Dir...
Education: The University of British Columbia, University of Victoria
Summary: David Stadnyk has more than 25 years of investment banking experience and he has been involved in raising equity capital funds for over $500 MM.
As you can see, Supreme Pharmaceuticals is the only pharma company Stadnyk owns. Not to mention, he owns other businesses, held by Stadnyk and Partners.
It seems as if the CEO (David Stadnyk) and CFO (George Tsafalas) both hold a large amount of shares in Supreme Pharmaceuticals.
Comment left by board member of Stockhouse.com:
Source: http://www.stockhouse.com/companies/bullboard/v.sl/supreme-pharmaceuticals-inc/4?postid=22365902
"David Stadnyk and George Tsafalas own 7.73 million shares"
"These are the 2 guys brought on in October of last year to turn this company around. They both bought into the .005 cent financing one month prior to being appointed to the board. And neither have sold a single share yet. Stadnyk purchased 4.73 million shares and Tsafalas 3 million shares. Why would they buy heavily into the company, take control over the company, and still hold their shares today unless HUGE things were planned?
Insider name: Stadnyk, David
Insider's Relationship to Issuer: 4 -
Director of Issuer, 5 -
Senior Officer of Issuer Ceased to be Insider: Not applicable
Security designation: Common Shares 2350678 2013-10-10 2013-10-11
Direct Ownership : 00 - Opening Balance-Initial SEDI Report 4,000,000 2350675 2013-10-10 2013-10-11
Indirect Ownership : RRSP 00 - Opening Balance-Initial SEDI Report 730,000
Security designation: Warrants (Common Shares) 2350687 2013-10-10 2013-10-11
Direct Ownership : 00 - Opening Balance-Initial SEDI Report 4,000,000 Common Shares 4,000,000
Insider name: Tsafalas, George
Insider's Relationship to Issuer: 4 -
Director of Issuer Ceased to be Insider: Not applicable
Security designation: Common Shares 2350695 2013-10-10 2013-10-11
Direct Ownership : 00 - Opening Balance-Initial SEDI Report 3,000,000
Security designation: Warrants (Common Shares) 2350698 2013-10-10 2013-10-11
Direct Ownership : 00 - Opening Balance-Initial SEDI Report 3,000,000 Common Shares 3,000,000"
Finding information about what's going on here on the Canadian side (TSX: TL) on Stockhouse.com - will post, as I gather info.
SPRWF
SPRWF: New Canadian MMJ Play! (Update)
For those of you who may have seen this ticker halted yesterday:
The SEC didn't halt it; the Canadian regulatory body for markets/securities did—IROC (Investment Industry Regulatory Organization of Canada)
Reason for halt: "Pending news" — released today; updated from yesterday's PR (private placement addition)
Evidence: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=66607692&topic=SPRWF&symbology=null&cp=off&webmasterId=89753
Based on IIROC's policy, it's common for them to halt a stock for pending news—either upon company request, to prevent any market advantages, and/or to the review the authenticity of the content within the pending press release.
Evident by SPRWF resuming trading today, there's nothing awry with the company and they have satisfied IIROC's screening of today's updated press release.
Also...yesterday I contacted the T/A:
Computershare Trust Company of Canada Inc.
Transfer Agent
510 Burrard St.
3rd Floor
Vancouver, BC, V6C 3B9
604-661-9400
I spoke to an "Evelyn." She said she wasn't abreast on the current float amount, but confirmed that the issued and outstanding shares are 128,074,362 (for Supreme's ticker on the TSX - SL) – as listed here under Supreme Pharamceuticals' Investors Info: http://www.supremepharmaceuticals.com/index.php/investors/investors-info.
Feel free to contact them/her, to confirm it for yourself, if you'd like.
I also contacted the company directly to find out the share structure for SPRWF, today. When I receive a response, I will post that amount in a sticky on the SPRWF board.
SPRWF: New Canadian MMJ Play! (Update)
For those of you who may have seen this ticker halted yesterday:
The SEC didn't halt it; the Canadian regulatory body for markets/securities did—IROC (Investment Industry Regulatory Organization of Canada)
Reason for halt: "Pending news" — released today; updated from yesterday's PR (private placement addition)
Evidence: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=66607692&topic=SPRWF&symbology=null&cp=off&webmasterId=89753
Based on IIROC's policy, it's common for them to halt a stock for pending news—either upon company request, to prevent any market advantages, and/or to the review the authenticity of the content within the pending press release.
Evident by SPRWF resuming trading today, there's nothing awry with the company and they have satisfied IIROC's screening of today's updated press release.
Also...yesterday I contacted the T/A:
Computershare Trust Company of Canada Inc.
Transfer Agent
510 Burrard St.
3rd Floor
Vancouver, BC, V6C 3B9
604-661-9400
I spoke to an "Evelyn." She said she wasn't abreast on the current float amount, but confirmed that the issued and outstanding shares are 128,074,362 (for Supreme's ticker on the TSX - SL) – as listed here under Supreme Pharamceuticals' Investors Info: http://www.supremepharmaceuticals.com/index.php/investors/investors-info.
Feel free to contact them/her, to confirm it for yourself, if you'd like.
I also contacted the company directly to find out the share structure for SPRWF, today. When I receive a response, I will post that amount in a sticky on the SPRWF board.
That's a good question. I'm gonna give them a call right now and find out.
SPRWF: New Canadian MMJ Play! (Update)
For those of you who may have seen this ticker halted yesterday:
The SEC didn't halt it; the Canadian regulatory body for markets/securities did—IROC (Investment Industry Regulatory Organization of Canada)
Reason for halt: "Pending news" — released today; updated from yesterday's PR (private placement addition)
Evidence: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=66607692&topic=SPRWF&symbology=null&cp=off&webmasterId=89753
Based on IIROC's policy, it's common for them to halt a stock for pending news—either upon company request, to prevent any market advantages, and/or to the review the authenticity of the content within the pending press release.
Evident by SPRWF resuming trading today, there's nothing awry with the company and they have satisfied IIROC's screening of today's updated press release.
Also...yesterday I contacted the T/A:
Computershare Trust Company of Canada Inc.
Transfer Agent
510 Burrard St.
3rd Floor
Vancouver, BC, V6C 3B9
604-661-9400
I spoke to an "Evelyn." She said she wasn't abreast on the current float amount, but confirmed that the issued and outstanding shares are 128,074,362 – as listed here under Supreme Pharamceuticals' Investors Info: http://www.supremepharmaceuticals.com/index.php/investors/investors-info
Feel free to contact them/her, to confirm it for yourself, if you'd like.
SPRWF
SPRWF: New Canadian MMJ Play! Today's PR...
Supreme Updates Option to Purchase Press Release and Announces Private Placement
CALGARY, ALBERTA--(Marketwired - Mar 25, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business until March 23, 2015 for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will, subject to prior approval of the TSXV, make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new Marijuana for Medical Purposes Regulation ("MMPR") regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned medical marijuana business (the "Vendor") is currently producing marijuana under Medical Marijuana Access Program ("MMAP") licences and with Friday's court injunction to extend the MMAP program, will be able to continue to operate under its current licences past the April 1st, 2014 deadline until a trial can be held to argue this further, currently anticipated to be in 9 months. The Vendor will be applying for the new MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production. There is no assurance that such a license will be granted to the Vendor, which will be a key condition in the Company's decision as to whether to exercise the option or not.
British Columbia is known for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts estimate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a satisfying one for our shareholders."
The Company also announces that it is undertaking a non-brokered private placement of up to $500,000 by the issuance of units at $0.075, with each unit consisting of one common share and one warrant entitling the holder to purchase one additional share for 2 years at $0.10. The Company will pay commissions to those arms length finders assisting in the private placement of 8% cash, and 8% in finder's warrants to purchase shares at $0.075 for 2 years. Proceeds will be used for general working capital.
The Company will issue a further press release when further information becomes available for publication.
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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Today's PR...
Supreme Updates Option to Purchase Press Release and Announces Private Placement
CALGARY, ALBERTA--(Marketwired - Mar 25, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business until March 23, 2015 for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will, subject to prior approval of the TSXV, make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new Marijuana for Medical Purposes Regulation ("MMPR") regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned medical marijuana business (the "Vendor") is currently producing marijuana under Medical Marijuana Access Program ("MMAP") licences and with Friday's court injunction to extend the MMAP program, will be able to continue to operate under its current licences past the April 1st, 2014 deadline until a trial can be held to argue this further, currently anticipated to be in 9 months. The Vendor will be applying for the new MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production. There is no assurance that such a license will be granted to the Vendor, which will be a key condition in the Company's decision as to whether to exercise the option or not.
British Columbia is known for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts estimate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a satisfying one for our shareholders."
The Company also announces that it is undertaking a non-brokered private placement of up to $500,000 by the issuance of units at $0.075, with each unit consisting of one common share and one warrant entitling the holder to purchase one additional share for 2 years at $0.10. The Company will pay commissions to those arms length finders assisting in the private placement of 8% cash, and 8% in finder's warrants to purchase shares at $0.075 for 2 years. Proceeds will be used for general working capital.
The Company will issue a further press release when further information becomes available for publication.
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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Today's PR...
Supreme Updates Option to Purchase Press Release and Announces Private Placement
CALGARY, ALBERTA--(Marketwired - Mar 25, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business until March 23, 2015 for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will, subject to prior approval of the TSXV, make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new Marijuana for Medical Purposes Regulation ("MMPR") regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned medical marijuana business (the "Vendor") is currently producing marijuana under Medical Marijuana Access Program ("MMAP") licences and with Friday's court injunction to extend the MMAP program, will be able to continue to operate under its current licences past the April 1st, 2014 deadline until a trial can be held to argue this further, currently anticipated to be in 9 months. The Vendor will be applying for the new MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production. There is no assurance that such a license will be granted to the Vendor, which will be a key condition in the Company's decision as to whether to exercise the option or not.
British Columbia is known for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts estimate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a satisfying one for our shareholders."
The Company also announces that it is undertaking a non-brokered private placement of up to $500,000 by the issuance of units at $0.075, with each unit consisting of one common share and one warrant entitling the holder to purchase one additional share for 2 years at $0.10. The Company will pay commissions to those arms length finders assisting in the private placement of 8% cash, and 8% in finder's warrants to purchase shares at $0.075 for 2 years. Proceeds will be used for general working capital.
The Company will issue a further press release when further information becomes available for publication.
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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Next ATTBF or NXTTF?
Supreme Acquires Option to Purchase Producing Medical Marijuana Facility
CALGARY, ALBERTA--(Marketwired - Mar 24, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business for up to twelve months for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new MMPR regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned Medical Marijuana business (the "Vendor") is currently producing Marijuana under the MMAP licence and with Friday's court decision to extend the MMAP program will be able to continue to operate under its current licences past the April 1st 2014 deadline. The Vendor will be applying for the new and much-coveted MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production.
British Columbia is world renowned for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts speculate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. Medical marijuana as an industry is flourishing. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders tremendous upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a very satisfying one for our shareholders."
SUPREME PHARMACEUTICALS INC.
David Stadnyk, President & CEO
The TSX has not reviewed and does not accept 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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Next ATTBF or NXTTF?
Supreme Acquires Option to Purchase Producing Medical Marijuana Facility
CALGARY, ALBERTA--(Marketwired - Mar 24, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business for up to twelve months for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new MMPR regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned Medical Marijuana business (the "Vendor") is currently producing Marijuana under the MMAP licence and with Friday's court decision to extend the MMAP program will be able to continue to operate under its current licences past the April 1st 2014 deadline. The Vendor will be applying for the new and much-coveted MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production.
British Columbia is world renowned for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts speculate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. Medical marijuana as an industry is flourishing. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders tremendous upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a very satisfying one for our shareholders."
SUPREME PHARMACEUTICALS INC.
David Stadnyk, President & CEO
The TSX has not reviewed and does not accept 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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Next ATTBF or NXTTF?
Supreme Acquires Option to Purchase Producing Medical Marijuana Facility
CALGARY, ALBERTA--(Marketwired - Mar 24, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business for up to twelve months for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new MMPR regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned Medical Marijuana business (the "Vendor") is currently producing Marijuana under the MMAP licence and with Friday's court decision to extend the MMAP program will be able to continue to operate under its current licences past the April 1st 2014 deadline. The Vendor will be applying for the new and much-coveted MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production.
British Columbia is world renowned for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts speculate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. Medical marijuana as an industry is flourishing. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders tremendous upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a very satisfying one for our shareholders."
SUPREME PHARMACEUTICALS INC.
David Stadnyk, President & CEO
The TSX has not reviewed and does not accept 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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! (Update)
For those of you who may have seen this ticker halted yesterday:
The SEC didn't halt it; the Canadian regulatory body for markets/securities did—IROC (Investment Industry Regulatory Organization of Canada)
Reason for halt: Pending news — released today; updated from yesterday's PR (private placement addition)
Evidence: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=66607692&topic=SPRWF&symbology=null&cp=off&webmasterId=89753
Based on IIROC's policy, it's common for them to halt a stock for pending news—either upon company request, to prevent any market advantages, and/or to the review the authenticity of the content within the pending press release.
Evident by SPRWF resuming trading today, there's nothing awry with the company and they have satisfied IIROC's screening of today's updated press release.
Also...yesterday I contacted the T/A:
Computershare Trust Company of Canada Inc.
Transfer Agent
510 Burrard St.
3rd Floor
Vancouver, BC, V6C 3B9
604-661-9400
I spoke to an "Evelyn." She said she wasn't abreast on the current float amount, but confirmed that the issued and outstanding shares are 128,074,362 – as listed here under Supreme Pharamceuticals' Investors Info: http://www.supremepharmaceuticals.com/index.php/investors/investors-info
Feel free to contact them/her, to confirm it for yourself, if you'd like.
SPRWF
SPRWF: New Canadian MMJ Play! Today's PR...
Supreme Updates Option to Purchase Press Release and Announces Private Placement
CALGARY, ALBERTA--(Marketwired - Mar 25, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business until March 23, 2015 for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will, subject to prior approval of the TSXV, make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new Marijuana for Medical Purposes Regulation ("MMPR") regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned medical marijuana business (the "Vendor") is currently producing marijuana under Medical Marijuana Access Program ("MMAP") licences and with Friday's court injunction to extend the MMAP program, will be able to continue to operate under its current licences past the April 1st, 2014 deadline until a trial can be held to argue this further, currently anticipated to be in 9 months. The Vendor will be applying for the new MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production. There is no assurance that such a license will be granted to the Vendor, which will be a key condition in the Company's decision as to whether to exercise the option or not.
British Columbia is known for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts estimate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a satisfying one for our shareholders."
The Company also announces that it is undertaking a non-brokered private placement of up to $500,000 by the issuance of units at $0.075, with each unit consisting of one common share and one warrant entitling the holder to purchase one additional share for 2 years at $0.10. The Company will pay commissions to those arms length finders assisting in the private placement of 8% cash, and 8% in finder's warrants to purchase shares at $0.075 for 2 years. Proceeds will be used for general working capital.
The Company will issue a further press release when further information becomes available for publication.
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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Next ATTBF or NXTTF?
Supreme Acquires Option to Purchase Producing Medical Marijuana Facility
CALGARY, ALBERTA--(Marketwired - Mar 24, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business for up to twelve months for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new MMPR regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned Medical Marijuana business (the "Vendor") is currently producing Marijuana under the MMAP licence and with Friday's court decision to extend the MMAP program will be able to continue to operate under its current licences past the April 1st 2014 deadline. The Vendor will be applying for the new and much-coveted MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production.
British Columbia is world renowned for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts speculate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. Medical marijuana as an industry is flourishing. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders tremendous upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a very satisfying one for our shareholders."
SUPREME PHARMACEUTICALS INC.
David Stadnyk, President & CEO
The TSX has not reviewed and does not accept 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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! (Update)
For those of you who may have seen this ticker halted yesterday:
The SEC didn't halt it; the Canadian regulatory body for markets/securities did—IROC (Investment Industry Regulatory Organization of Canada)
Reason for halt: Pending news — released today; updated from yesterday's PR (private placement addition)
Evidence: http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=66607692&topic=SPRWF&symbology=null&cp=off&webmasterId=89753
Based on IIROC's policy, it's common for them to halt a stock for pending news—either upon company request, to prevent any market advantages, and/or to the review the authenticity of the content within the pending press release.
Evident by SPRWF resuming trading today, there's nothing awry with the company and they have satisfied IIROC's screening of today's updated press release.
Also...yesterday I contacted the T/A:
Computershare Trust Company of Canada Inc.
Transfer Agent
510 Burrard St.
3rd Floor
Vancouver, BC, V6C 3B9
604-661-9400
I spoke to an "Evelyn." She said she wasn't abreast on the current float amount, but confirmed that the issued and outstanding shares are 128,074,362 – as listed here under Supreme Pharamceuticals' Investors Info: http://www.supremepharmaceuticals.com/index.php/investors/investors-info
Feel free to contact them/her, to confirm it for yourself, if you'd like.
SPRWF
SPRWF: New Canadian MMJ Play! Today's PR...
Supreme Updates Option to Purchase Press Release and Announces Private Placement
CALGARY, ALBERTA--(Marketwired - Mar 25, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business until March 23, 2015 for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will, subject to prior approval of the TSXV, make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new Marijuana for Medical Purposes Regulation ("MMPR") regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned medical marijuana business (the "Vendor") is currently producing marijuana under Medical Marijuana Access Program ("MMAP") licences and with Friday's court injunction to extend the MMAP program, will be able to continue to operate under its current licences past the April 1st, 2014 deadline until a trial can be held to argue this further, currently anticipated to be in 9 months. The Vendor will be applying for the new MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production. There is no assurance that such a license will be granted to the Vendor, which will be a key condition in the Company's decision as to whether to exercise the option or not.
British Columbia is known for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts estimate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a satisfying one for our shareholders."
The Company also announces that it is undertaking a non-brokered private placement of up to $500,000 by the issuance of units at $0.075, with each unit consisting of one common share and one warrant entitling the holder to purchase one additional share for 2 years at $0.10. The Company will pay commissions to those arms length finders assisting in the private placement of 8% cash, and 8% in finder's warrants to purchase shares at $0.075 for 2 years. Proceeds will be used for general working capital.
The Company will issue a further press release when further information becomes available for publication.
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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
SPRWF: New Canadian MMJ Play! Next ATTBF or NXTTF?
Supreme Acquires Option to Purchase Producing Medical Marijuana Facility
CALGARY, ALBERTA--(Marketwired - Mar 24, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX-VENTURE:SL)(OTCBB:SPRWF) is pleased to announce that the Company has signed a conditional agreement with an arms-length South Okanagan-based company, whereby the Company has the option to purchase its producing medical marijuana business for up to twelve months for the sum of $1,000,000, payable in cash and shares, subject to regulatory approval. The Company is currently in a 10-business day due diligence period and if satisfied, Supreme will make a $100,000 option payment.
The medical marijuana industry in Canada is undergoing massive reform as a result of the new MMPR regulation scheduled to come into effect April 1st, 2014, or some date thereafter-pending legal review. The vendor of the optioned Medical Marijuana business (the "Vendor") is currently producing Marijuana under the MMAP licence and with Friday's court decision to extend the MMAP program will be able to continue to operate under its current licences past the April 1st 2014 deadline. The Vendor will be applying for the new and much-coveted MMPR licence to produce and sell commercial medical marijuana, a process expected to take several months. Health Canada has currently issued a total of twelve commercial licences and has advised that it will be issuing additional licences. The Company's initial assessment is that the Vendor and its advisors meet the criteria set forth by the government due to its advanced business plan and key industry veterans involved. The Vendor is a past and current producer and has been in business since July of 2013 with 4 licenses for personal production.
British Columbia is world renowned for its high quality marijuana production. Health Canada has reported that British Columbia produces 69.4% of the medical marijuana plants authorized for production within the country. British Columbia is prolific for both its agriculture and horticulture. The climate for growing marijuana in the Okanagan is arguably the best in the world. Analysts and industry experts speculate that this new commercial scale medical marijuana industry could reach $2.6 billion by 2016.
President and CEO Mr. David Stadnyk states, "We are excited to be able to enter into an agreement to purchase a business that is established and has a realistic chance of acquiring a major MMPR commercial license from Health Canada. Medical marijuana as an industry is flourishing. We are continuing to evaluate additional opportunities in both Canada and the United States, which will give our shareholders tremendous upside potential. We believe this industry is in its infancy and we are excited to be able to get into the business in the industry's early days. We think that this life science field complements the pharmaceutical and bio-medical devices that we are currently reviewing, and that 2014 will be a very satisfying one for our shareholders."
SUPREME PHARMACEUTICALS INC.
David Stadnyk, President & CEO
The TSX has not reviewed and does not accept 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.
David Stadnyk
President & CEO
(647) 340-6744
info@supremepharmaceuticals.com
www.supremepharmaceuticals.com
Report TOS
Most of the market isn't familiar with Canadian halts and probably thinks it had something to do with "shady activity" on the company's part—which obviously isn't the case. So it's reasonable to presume some who were holding shares are panic selling unnecessarily, and many watching & wanting to play are also unnecessarily leery about yesterday's halt. Give the market some time to digest the news and realize that nothing is "wrong" here.
If/when we get an update confirming a close on the option-to-purchase, that's when the real fireworks start. That said, based on the 10-day DD review mentioned, that wait shouldn't be longer than a week.
Until then, if you're in it, please don't start hyperventilating over fluctuations & throw around various pessimistic remarks. The company has replied promptly to everyone who has contacted them and seems to be in good standing. If/when they close on the purchase, your patience will pay off.
Good luck.
$SPRWF
Hopefully they close on the option-to-purchase & let us know the name of the business (which more than likely will have its existence authenticated by the TSX)...meaning the legitimacy of said business should be a non-factor.
That's when the chase to $0.50+ begins!
Like I've said, I'm long VGPR...and by that I mean years! Biocoal & biochar are revolutionary products and will making headlines in the future.
Thanks a lot for your efforts, paintpimp. Those of us who possess discernment can most definitely see the bigger picture here.
I just contacted the T/A:
Computershare Trust Company of Canada Inc.
Transfer Agent
510 Burrard St.
3rd Floor
Vancouver, BC, V6C 3B9
604-661-9400
I spoke to an "Evelyn." She said she wasn't abreast on the current float amount, but did confirm that the issued and outstanding shares are indeed 128,074,362 - as listed here under Supreme Pharamceuticals' Investors Info: http://www.supremepharmaceuticals.com/index.php/investors/investors-info
Feel free to contact them/her, to confirm it for yourself, if you'd like.
SPRWF
The company's website lists the issued & outstanding shares at 128,074,362
Source: http://www.supremepharmaceuticals.com/index.php/investors/investors-info
I just emailed them and inquired about the share structure. When I get the official numbers, I'll let the board know.
What's up, guys...
I tried calling the office 3 times, in the past hour, but didn't get an answer. Nevertheless, I just sent them an email - a copy of it is affixed below. Upon receiving correspondence, I will definitely share the applicable information with you all.
March 24, 2014
To Whom It May Concern:
I am currently a shareholder, under your ticker symbol SPRWF, and have a few questions about the company.
1. What is the official share structure (ie. authorized shares; outstanding shares; float)?
2. Will you be updating your profile on OTCMarkets.com? If so, when will that be taking place?
3. Is the stock being diluted in any way?
4. Are there any plans to increase the authorized shares in the near future (ie. 6-12 months)?
5. Are there any plans to fully report to the SEC and/or uplist to the OTCQX?
6. When can we expect an update/press release pertaining to the company mentioned in today's (3/24) press release?
If there is any other relevant information you could share with me, feel free to mention it. It would be greatly appreciated.
I look forward to hearing from you.
Sincerely,
Jesse F.
SPRWF
I don't see why you can't purchase with them. I have them, too, and bought on Friday.
Lol...
I guess you & I are gonna have to set up whatever gear we got then and print up some makeshift tickets, to sell at the door, before the show starts @ 9:30.
Where are the mikes, guitars, and drums? It's time to rock and roll!
Shares Issued and Outstanding: 128,074,362
http://www.supremepharmaceuticals.com/index.php/investors/investers-info
I'll be contacting them tomorrow, to confirm the share structure.
I'll be giving the office a call in the morning and will let you guys know what information I attain.
SPRWF
March 21st, 2014 Press Release:
http://finance.yahoo.com/news/supreme-evaluate-medical-marijuana-opportunities-120000193.html
Supreme to Evaluate Medical Marijuana Opportunities
Supreme Pharmaceuticals Inc. March 21, 2014 8:00 AM
CALGARY, ALBERTA --(Marketwired - Mar 21, 2014) - Supreme Pharmaceuticals Inc. (the "Company") (TSX VENTURE:SL)(SPRWF) is pleased to announce that its continued efforts to secure an exclusive license agreement for a medical device are making significant headway; the Company will continue to keep its shareholders up to date on negotiations. In addition to medical devices, the Company has recently come across opportunities within the medical marijuana industry. Companies and key contacts have approached management with opportunities and the Company is evaluating them accordingly. Given the medical marijuana industry's immense growth, management is excited to evaluate the merit of the opportunities.
This emerging multi-billion dollar industry is in the process of significant regulatory and legal reform that offers explosive growth opportunities to participants. Currently the industry as a whole is highly fragmented with significant changes scheduled for April 1st 2014 as stated on the Health Canada website. Supreme has been approached as a vehicle to consolidate fragmented growers and work with dispensaries to obtain the new Marijuana for Medical Purposes Regulations (MMPR) license. Currently management is reviewing a number of business plans and proposals as well as adding industry expertise to its advisory board.
Heath Canada states, "The Marijuana Medical Access Program (MMAP) ends on March 31, 2014. This is also the date that all Authorizations to Possess, Personal-Use Production Licenses and Designated-Person Production Licenses expire. As of April 1, 2014, the only legal access to marijuana for medical purposes will be through licensed producers under the Marijuana for Medical Purposes Regulations (MMPR), even if you have an authorization to possess or a license to produce that has a later date.
(http://www.hc-sc.gc.ca/dhp-mps/marihuana/index-eng.php)
Upcoming changes in medical marijuana licencing will allow for licensed producers to grow on a larger, commercial scale. In estimates from Health Canada the industry could be worth $1.3 billion by 2024, but analysts and industry experts speculate that this newly formed commercial scale medical marijuana business could reach $2.6 Billion by 2016. The United States is also undergoing medical marijuana reform with 20 states now recognizing legal medical marijuana. In addition Colorado and Washington State have legalized recreational use with additional states contemplating legalization.
President and CEO Mr. David Stadnyk states, "As a diversified life science company we are now looking into the medical marijuana industry as part of our duty to our shareholders to investigate potential transactions. As a company we continue to search for opportunities that provide value and the medical marijuana industry appears to be booming and may offer significant rewards to our shareholders. We have several key contacts with potentially valuable opportunities and we will evaluate them rigorously."
At this time, no transactions are in place, nor is there any assurance that a new project will be concluded in the future.
SUPREME PHARMACEUTICALS INC.
“David Stadnyk”
President & CEO
Contact Information
#772 Alastair Ross Technology Centre
3553 31st Street NW
Calgary Alberta, T2L 2K7
Phone: (647) 340-6744
Email: info@supremepharmaceuticals.com
Website: www.supremepharmaceuticals.com
The TSX has not reviewed and does not accept 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.