TORONTO, ONTARIO--(Marketwired - April 10, 2017) - Supreme Pharmaceuticals Inc. ("Supreme" or the "Company") (CSE:SL)(CSE:SL.CN) is pleased to announce that it has received conditional approval from the TSX Venture Exchange ("TSX.V") to list the Company's common shares on the TSX.V.
John Fowler, President and CEO, stated: "Graduating from the CSE to the TSX.V is an important milestone for Supreme. We enjoyed tremendous success throughout our time on the CSE, which provided us the flexibility we needed in the early stages of our growth. Graduating to the TSX.V prepares us for the next steps in the development of our cannabis business."
The Company would like to thank the CSE for its role in Supreme's success over the past three years.
Final approval of listing on the TSX.V is subject to Supreme satisfying certain customary conditions required by the TSX.V. Supreme expects that it will be able to satisfy all such conditions by mid-May 2017 and will provide an update once the TSX.V has issued a bulletin confirming the date on which trading on the TSX.V will commence. Following completion of all listing requirements, Supreme's common shares will be voluntarily delisted from the Canadian Securities Exchange and will begin trading on the TSX.V under a new symbol.
Supreme is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations operating inside a 342,000 sq. ft. Hybrid Greenhouse facility. The Hybrid Greenhouse combines the best technology of indoor production with the efficiencies and sustainability of a greenhouse, in a single large-format production footprint. Please visit www.supreme.ca and www.7acres.com for more information.
Cautionary Note Regarding Forward Looking Statements
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company's periodic filings with Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, other factors could cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; timing for completion of TSX.V approval; limited operating history; competition; inconsistent public opinion and perception of the medical-use marijuana industry; and regulatory or political change. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. The Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
Neither Canadian Securities Exchange nor the TSX Venture Exchange has reviewed, approved or disapproved the content of this news release.