Supreme Pharma Negotiates For Additional Medical Pot Producing Facility

This potential deal is on top of the option to acquire a South Okanagan producing marijuana facility, a transaction which is currently in the midst of a due diligence period and on which a final decision is expected tomorrow.

Supreme said Monday that there is no guarantee that an agreement for this latest deal will be reached. If it is successful, it is planning to apply for a commercial license under the newly established Marijuana for Medical Purposes Regulations (MMPR) for this newest facility, which Supreme said is located in the lower mainland of British Columbia and currently operates under the old MMAP license.

“Our goal is to secure several medical marijuana producing facilities, each with a MMPR license,” said president and CEO David Stadnyk.

“There is no assurance that we will be able to secure such facilities. This is a critical year for MMPR licences and we plan on making several applications to Health Canada.”

The medical marijuana business has been a booming sector for Canadian juniors lately, with one after the other making their way into the arena in preparation for the massive reform in the industry.

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