About Supreme Pharmaceuticals
Through its 7 ACRES subsidiary, SL is a licensed producer, and is somewhat unique for its focus on wholesale supply to other LPs. It received its license in March 2016, and its first harvest was in August 2016. The Company’s existing Health Canada license is for production only, and it has applied for the amendment required to be licensed to sell. SL operates a 342,000-square foot hybrid greenhouse facility in Kincardine, Ontario. The Company completed a $15.0M non-brokered financing at $0.40 per unit in August 2016 (full warrant, $0.50 for three years), with the proceeds to be used to fund the Phase I expansion that will take annualized capacity to 10,000 kg by June 2017. Once fully operational, management believes the existing facility could support annual production of 50,000 kg.