Supreme Pharmaceuticals Inc. (TSXV:FIRE) is pleased to announce the closing of its previously announced bought deal private placement of 40,250 convertible debenture units, including the exercise of the Underwriters' over-allotment option, with a syndicate of underwriters, led by Canaccord Genuity Corp., including Beacon Securities Limited, Cormark Securities Inc., Eight Capital, GMP Securities L.P., and PI Financial Corp., for gross proceeds of approximately $40.25 million.
Supreme Pharmaceuticals Inc. ("Supreme" or the "Company") (TSXV: FIRE) is pleased to announce 7ACRES has commenced production in the newly constructed flowering rooms recently approved by Health Canada. Yesterday, over 3,000 plants of a specially selected phenotype of cannabis called "Wappa" were hand-transplanted into the first of three 10,000 sq. ft. flowering rooms.
Supreme Pharmaceuticals Inc.
Supreme Pharmaceuticals Inc. (TSXV: FIRE) is pleased to announce that 7ACRES has completed construction of three additional 10,000 sq. ft. flowering rooms at its Hybrid Facility, and applied to Health Canada for licensing. Subject to Health Canada approval, the additional flowering rooms will quadruple 7ACRES' flowering footprint from 10,000 sq. ft. to 40,000 sq. ft.
Yesterday, we reported a major milestone and probably the most significant news in Supreme Pharmaceuticals’ (FIRE.V) (SPRWF) history.
Although we were favorable on this news, we were cautious with the shares due to its market cap being larger than a few of its peers, which are more advanced and larger than Supreme.