Category: Pharma & Biotech

Supreme Pharmaceuticals Announces Upsize of Previously Announced Bought Deal Private Placement to $35 Million

SHARE THIS POST October 18, 2017 Download this Press Release PDF Format (opens in new window) /NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/ TSXV: FIRE TORONTO, Oct. 18, 2017 /CNW/ – Supreme Pharmaceuticals Inc. (the “Company”) (TSXV:FIRE) announced today that it has amended its agreement with Canaccord Genuity Corp., as lead underwriter on behalf of a syndicate of underwriters (the “Underwriters”), to increase the size of its previously announced bought deal private placement of convertible debenture units (the “Convertible Debenture Units”) to $35,000,000. Under the terms of the amending agreement, the underwriters will now have an option to acquire up to 5,250 additional Convertible Debenture Units, each having the same terms as the Convertible Debenture Units above, which option is exercisable until the Closing Date (as hereinafter defined).  All other previously announced terms of the Offering (as hereinafter defined) remain unchanged. As previously announced, each Convertible Debenture Unit will consist of $1,000 principal amount of 8.0% senior unsecured convertible debentures (the “Convertible Debentures”) and 313 common share purchase warrants (the “Warrants”) of the Company (the “Offering”). The Convertible Debentures will bear interest from the date of closing at 8.0% per annum, payable annually in arrears on December 30, 2018 and thereafter semi-annually on the last day of June and December in each year and will mature two years following the closing of the Offering (the...

Read More

MYM Enters Partnership to Build one Million Square Foot Cannabis Production Facility in Australia

SHARE THIS POST October 18, 2017 |In News |By cris UNCODE.initHeader(); MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF) (the “Company” or “MYM”) is pleased to announce that it has entered into a strategic partnership with PUF Ventures Inc. (CSE: PUF) (Frankfurt: PU3) (OTCPK: PUFXF) (“PUF”) for the construction of a one million square foot greenhouse facility in northern New South Wales Australia called the Northern Rivers Project. The Northern Rivers Project is a partnership with the Richmond Valley Council—the local government in New South Wales, Australia—and PUF Ventures Australia (“PVA”)—a recently formed majority-owned subsidiary of PUF—to construct a one million square foot greenhouse operation, with large-scale manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products. MYM will own 35% of the Northern Rivers Project, which, at full scale, will have the capacity to produce 100,000 kilograms of high quality cannabis per year, worth between C$800 million and C$1.1 billion (based on current pricing metrics in the Australian cannabis marketplace). Australia has introduced progressive medical cannabis laws in the past few years, and are essentially where Canada was four years ago. Assuming recreational cannabis becomes legal and with a population of more than 24 million people, it is estimated that the cannabis market in Australia will grow to C$9 billion over the next 7 years making it a very attractive market. Being...

Read More