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news.Supreme Pharmaceuticals has reported that the company has entered into negotiations with a producing medical marijuana facility to acquire that business.
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This is in addition to the South Okanagan producing facility currently under evaluation. The parties have agreed to an exclusive 45-day negotiating period. There is no guarantee that an agreement will be reached and will subject to regulatory approval.
If Supreme is successful in securing an agreement with this producing company, of which there is no assurance, it will apply for a commercial MMPR licence in regard to this facility, and there is no guarantee that such a license will be granted.
The facility is located in the lower mainland of British Columbia and currently operates under MMAP licensing; the business has been producing medical marijuana for several years on wholly owned property.
Supreme Pharmaceuticals president and CEO David Stadnyk noted that the company’s goal is to secure several medical marijuana producing facilities, each with a MMPR license.
"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," Stadnyk added.