Supreme Cannabis announces the completion of an overnight public offering of $ 23 million, including the full exercise of the over-allotment option



TORONTO, January 29, 2021 / CNW / – Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced the completion of its previously announced overnight public offering (the “Offering”) to Company of 121,049,000 units (“Units”) for all of the gross proceeds of $ 22,999,310including the full exercise of the over-allotment option granted to subscribers in connection with the offering.

Each Unit consisted of one common share of the Company and one half of a warrant to purchase common stock of the Company (each complete warrant to purchase common stock, a “Warrant”). Each warrant is exercisable until one common share of the Company (a “Warrant Share”) is acquired January 29, 2024 at an exercise price of $ 0.23 per warrant share, subject to adjustment in certain cases.

The warrants trade today on the Toronto Stock Exchange under the symbol FIRE.WT.

The offer was carried out by a consortium of subscribers led by BMO Capital Markets, including ATB Capital Markets Inc., Cormark Securities Inc., Eight Capital, Stifel GMP and Raymond James Ltd.

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

The units were offered in each of the provinces of Canadaexcept Quebecaccording to a prospectus addition dated January 26, 2021 on the short-form basic shelf prospectus of the company dated April 22, 2020.

This press release constitutes neither an offer to sell nor the solicitation of an offer to buy any securities The United StatesAlso, no sale of the Securities may take place in any country in which such an offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the US Securities Act or any US securities law and may not be offered or sold The United States or to or for the account or benefit of any US person, without registration or an applicable exemption from the registration requirements of the US Securities Act and applicable state securities laws.

About Supreme Cannabis.

Supreme Cannabis Company, Inc. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is a globally diversified portfolio of diverse cannabis companies, products, and brands. Since 2014, the company has grown into one of the world’s leading manufacturers of recreational, wholesale and medical cannabis products.

The Supreme Cannabis brand portfolio offers diverse consumer and patient experiences with brands and products addressing recreational, wellness, medical and emerging consumer preferences. The company’s leisure brand portfolio includes 7ACRES, 7ACRES Craft Collective, Blissco, Sugarleaf and Hiway. Supreme Cannabis addresses national and international medical cannabis opportunities with its premium brand Truverra.

Supreme Cannabis brands are supported by a number of world-class resources that serve key functions in the value chain, including scaled-down cultivation, value-added processing, automated packaging and product testing, and research and development. Follow the company on Instagram, Twitter, Facebook, LinkedIn and YouTube.

We just grow better.

Forward-looking information.

Certain statements in this press release constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements and information may be identified by terms such as “anticipates,” “believes,” “targets,” “estimates,” “plans,” “expects,” ” can “,” will “,” could “or” be identified. would “. In this press release, forward-looking information and statements relate, among other things, to the use of the net proceeds from the offering. Forward-looking information may relate to expected events or results and other statements that are not historical facts. The forward-looking information is based on assumptions and estimates that the company deems appropriate and appropriate under the given circumstances. The forward-looking events and circumstances discussed in this press release may not occur and may arise due to known and unknown risk factors and uncertainties that affect the company, including the risks related to the COVID-19 epidemic, the cannabis industry, market conditions and economic circumstances factors affecting management’s ability to administer and operate the business and the stock markets in general differ materially. The forward-looking information contained in this press release is as of the date of this press release and the company undertakes no obligation to update or revise any forward-looking information as a result of new information, future events or otherwise, except as required by applicable securities laws.

SOURCE The Supreme Cannabis Company, Inc.

For more information: Craig MacPhail, Investor Relations, email: [email protected], Phone: 416-466-6265,

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