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Globe says Supreme Pharma grateful for start on CSE

2017-12-12 07:37 ET - In the News

See In the News (C-FIRE) Supreme Pharmaceuticals Inc (2)

The Globe and Mail reports in its Tuesday edition that Supreme Pharmaceuticals is a pot company which listed on the Canadian Securities Exchange (CSE) in 2014, giving it access to capital it could not source on its own. The Globe's Christina Pellegrini writes that chief executive officer John Fowler began his business with a handful of people, an application for a licence and a plan. Just three years later, he heads up a $400-million company with 130 employees, a grow-op in Kincardine, Ont., and now has a stock listing on the TSX Venture Exchange. "We had a good run on the CSE. I'll be eternally thankful," Mr. Fowler adds. "For us, it was the right time to graduate." The CSE has given issuers the chance to raise money. Now it has to give them a reason to stay longer. "Companies feel like when they hit a certain level, they have to go to the TSX-V," says CSE boss Richard Carleton. "We have got to make them think otherwise." The TMX Group's position banning U.S. cannabis investment has done the CSE a big favour. At a Bay Street gala in October, Mr. Carleton ran into Ungad Chadda, head of the listings business for TMX. "I hugged Ungad the other day," he says. "I did. I said, 'Dude, I love you, man!'"

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