Supreme Cannabis announces closing of C$25.9 million bought deal public offering

On February 19, 2021, The Supreme Cannabis Company, Inc. ("Supreme Cannabis") announced the closing of its previously announced bought deal public offering of 83,490,000 units for aggregate gross proceeds of C$25,881,900, including the full exercise of the over-allotment option granted to the underwriters in connection with the offering.

Each unit was comprised of one common share and one half of one common share purchase warrant of Supreme Cannabis (each full common share purchase warrant, a "Warrant"). Each Warrant is exercisable to acquire one common share of Supreme Cannabis until February 19, 2024 at an exercise price of C$0.40 per share, subject to adjustment in certain events.

The offering was conducted by a syndicate of underwriters led by BMO Capital Markets and including Stifel GMP, ATB Capital Markets Inc., Cormark Securities Inc., Eight Capital and Raymond James Ltd.

The net proceeds will be used to fund growth initiatives, as a reserve for strategic opportunities, and for working capital and general corporate purposes.

Further information can be found on Canada Newswire’s website.

Supreme Cannabis is a global diversified portfolio of distinct cannabis companies, products and brands.