Vancouver, British Columbia–(December 15, 2014) – Supreme Pharmaceuticals (CSE:SL) (OTC PINK: SPRWF), announced the completion of security and infrastructure upgrades at its hybrid greenhouse facility located in southern Ontario, and awaits pre-license inspection by Health Canada. The 342,000 square foot greenhouse, purchased in May 2014, is located in Kincardine.
InvestmentPitch.com has produced a “video news alert” which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Supreme” in the search box.
The company has spent approximately $4 million in upgrades to transform the out-of-use tomato greenhouse into a highly secured, state-of-the-art, automated marijuana facility. These upgrades include a level 9 security vault capable of storing up to $150 million of dried marijuana, a sophisticated digital security system including intrusion detection and visual surveillance, along with sanitation and automation systems, all of which have been designed and installed to meet or exceed regulatory requirements set by Health Canada.
The company and its management team have carefully planned the upgrades to provide an optimal environment to manufacture high quality, low-cost medical marijuana. If successful in obtaining the license to produce medical marijuana subsequent to the pre-license inspection, the company expects to immediately commence growing in its first completed phase of the Facility. Subsequent phases of the facility are expected to be built out later in 2015 which will increase the productive capacity of the facility.
John Fowler, Director of Operations, stated: “The construction thus far has been a massive undertaking for us. We are excited to move forward in the licensing process and stay on track with our goal of providing high-quality, low-cost medical marijuana in the coming months.”
The company recently closed the second tranche of its private placement, placing a total of 5.6 million units at $0.32 for gross proceeds of $1.8 million. Each unit consisted of one share and ½ a warrant, with each warrant exercisable at $0.50 for 2 years. Management believes this funding will take the company through the licensing stage and beyond.
In November, the company announced changes and additions to the management team, which it considered were the final pieces to ensure Supreme’s future success as a leader in the medical marijuana industry.
The shares are currently trading at $0.38, and with 76.2 million shares outstanding, the company is capitalized at $29 million. For more information, please visit the company’s website, www.supreme.ca, call 604-674-2191 or email [email protected].
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing short three minute videos based on significant news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
[email protected]
Start your small cap medical marijuana research in the AGORACOM Small Cap Medical Marijuana Stocks Gateway: http://agoracom.com/portal/Small%20Cap%20Medical%20Marijuana%20Stocks
Tags: #smallcapstocks, $TSXV, CSE, medical Marijuana