Supreme Cannabis closes C$23 million overnight marketed public offering

On January 29, 2021, The Supreme Cannabis Company, Inc. ("Supreme Cannabis") announced the closing of its previously announced overnight marketed public offering of 121,049,000 units for aggregate gross proceeds of C$22,999,310, 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 January 29, 2024 at an exercise price of C$0.23 per share, subject to adjustment in certain events.

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