Supreme Pharmaceuticals Inc.: Executive Management Visits Producing Facility as Part of Due Diligence
01 Avril 2014 - 3:26PM
Marketwired
Supreme Pharmaceuticals Inc.: Executive Management Visits Producing
Facility as Part of Due Diligence
CALGARY, ALBERTA--(Marketwired - Apr 1, 2014) - Supreme
Pharmaceuticals Inc. (the "Company") (OTCBB:SPRWF)(TSX-VENTURE:SL)
advises that management is currently visiting the producing medical
marijuana facility on which the Company may acquire an option to
purchase, as part of its due diligence. The facility is located in
the south Okanagan and the Company will get an onsite evaluation of
the complex as it enters the final stages of the due diligence
period. The 10 day due diligence period expires as of Friday April
4th, 2014. There is no assurance that the normal due diligence and
other conditions will be met successfully and the option acquired.
The Company will provide further updates as this matter
progresses.
The Company has signed a conditional agreement with an
arms-length South Okanagan-based company, whereby the Company may
acquire an 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.
President and CEO, David Stadnyk stated: "We are looking forward
to visit the facility and move this process along."
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 StadnykPresident &
CEO(647)
340-6744info@supremepharmaceuticals.comwww.supremepharmaceuticals.com
(TSXV:SL)
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