Supreme Cannabis announces C$30 million ATM equity distribution program

On March 3, 2021, The Supreme Cannabis Company, Inc. ("Supreme Cannabis") announced that it established an at-the-market equity program (the “ATM Program”) allowing the company to issue and sell up to C$30,000,000 of common shares from treasury to the public, from time to time at prevailing market prices, through the Toronto Stock Exchange or another marketplace upon which the common shares are listed, quoted or otherwise traded, at the company’s discretion.

Distributions of the common shares will be made pursuant to the terms of an equity distribution agreement dated March 3, 2021 between Supreme Cannabis and BMO Capital Markets, as agent. The ATM Program will be effective until the earlier of March 24, 2023, unless terminated prior to such date by Supreme Cannabis or BMO Capital Markets.

The ATM Program is designed to provide Supreme Cannabis with additional financing flexibility should it be required in the future. Supreme Cannabis intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, working capital needs and capital expenditures, including the repayment of indebtedness.

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

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