Supreme Pharmaceuticals Inc. (OTC: SPRWF) (CSE: SL), an aspiring licensed producer of medical marijuana under Canada’s MMPR, recently announced the completion of security and infrastructure upgrades at the hybrid industrial greenhouse facility in Kincardine, Ontario. With the upgrades complete, the facility is ready for Health Canada’s pre-license inspection.
“The construction thus far has been a massive undertaking for us,” said Supreme Pharmaceutical Inc.’s Director of Operations John Fowler. “We are excited to move forward in the licensing process and stay on track with our goal of providing high-quality, low-cost medical marijuana in the coming months.”
Since acquiring the 342,000 square foot facility in May 2014, the company has installed nearly $4 million worth of upgrades to transform it from a tomato greenhouse to a highly secure, state of the art, automated medical marijuana facility. The upgrades include a level-9 security vault capable of storing up to$150 million worth of dried marijuana, as well as sophisticated digital security systems.
If management is able to obtain a license to produce medical marijuana after the pre-license inspection, they intend to immediately commence growing in its first completed phase of the facility. The next phases of the facility are expected to be built out later in 2015, which will increase the production capacity of the facility, although no date has been set as of yet for Health Canada’s inspection.
Shares of Supreme Pharmaceuticals Inc. rose more than 3% in early trading on Friday, December 12, 2014 following the news release.
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.