Supreme Pharmaceuticals Inc.

CNSX : SL


Supreme Pharmaceuticals Inc.

August 15, 2014 12:44 ET

Supreme Pharmaceuticals Inc. Announces Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 15, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

Supreme Pharmaceuticals Inc. ("Supreme" or the "Company") (CSE:SL) is pleased to announce that it is undertaking a non-brokered private placement of up to 20 million units in the capital of the Corporation ("Units") at a price of $0.25 per Unit for aggregate gross proceeds of up to $5 million (the "Offering"). Each Unit will consist of one common share in the capital of the Corporation ("Common Share") and one-half of one Common Share purchase warrant (a "Warrant"), with each whole Warrant entitling the holder to purchase one additional Common Share for $0.50 for a period of 12 months from closing of the Offering. Closing is expected to occur on or about September 15, 2014. The Company may pay commissions to brokers who assist in completion of the private placement in accordance with applicable law and the policies of the Canadian Securities Exchange. The proceeds from the Offering shall be used to fund the development of the Company's Kincardine facility and general working capital purposes.

The Company is seeking subscribers (the "Subscribers") who are Accredited Investors (as the term is defined in the Securities Act (Alberta) or other legislation applicable in the jurisdiction in which such Subscribers resides), on a prospectus exempt private placement basis for the purpose stated herein. The purchased Units will be subject to resale restriction under applicable law.

The Units will be offered for sale by way of private placement exemptions available in Canada and in jurisdictions outside of Canada that are agreed to by the corporation.

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. This news release includes forward-looking statements with respect to the closing date of the Offering, commissions to be paid to brokers, the use of proceeds raised under the Offering and the investment eligibility of the Units and the underlying Common Shares and Warrants for certain registered accounts. 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 and such factors as the Company failing to close the offering, the Units and the underlying Common Shares and Warrants not being eligible for purchase through registered investment accounts and failure to secure the assistance of brokers to assist with the Offering. 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 harbour provisions of the Private Securities Litigation Reform Act of 1995.

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