|By Marketwired .||
|April 28, 2014 04:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/28/14 -- Supreme Pharmaceuticals Inc. (the "Company") (CSE:SL)(OTCBB:SPRWF) is pleased to report that the South Okanagan producing facility, which will from hereon in be referred to as "Facility 1", has now formally submitted an MMPR application to Department of Health Canada. As part of the months of preparations prior to the submission, Facility 1 engaged the services of specialist legal council, security, and consulting firms to ensure all areas of the Health Canada application criteria were met as fully as possible.
The current production facility has been constructed to full commercial standards and was designed to meet all relevant local and provincial government requirements. Supreme is confident that the existing facility will need only minor upgrades to meet the update requirements of the new MMPR license category, assuming it is successful in its application.
Facility 1 engaged a consulting firm that is experienced in MMPR applications and has had prior success. The consultants have provided valuable input into many aspects of the application requirements based on their prior experience with Health Canada officials and the MMPR application process. Facility 1 is also receiving additional expert consulting advice on the important matters of internal and external security.
The Company is aware that the licensing process involves a rigorous review of the applicant by multiple authorities and can take several months with no guarantee of success. However, Facility 1's management team is confident that their prior experience and expertise in the industry and the high commercial standard of the facility will meet Health Canada's requirements for a full commercial MMPR license.
The Company is currently reviewing other medical marijuana operations in Western Canada for possible investment opportunities.
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 issuance of the MMPR license. 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 exercise the option, acquire any producing facility and the facility's inability to acquire a MMPR license. 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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