An anonymous director reports
SUPREME ANNOUNCES CLOSING OF WARRANT INCENTIVE PROGRAM
Supreme Pharmaceuticals Inc. has closed the limited time incentive program, which commenced on Dec. 7, 2015. Pursuant to the incentive program, Supreme received aggregate proceeds of $2,107,487.25 through the issuance of 12,619,110 common shares and 12,619,110 common share purchased warrants. For more details regarding the incentive warrants, please see the company's news release dated Dec. 2, 2015.
Approximately $220,000 of the proceeds from the incentive program were raised through the exercise of warrants by certain directors and/or officers of the company. The transaction was unanimously approved by the disinterested members of the company's board of directors and implemented in accordance with the applicable exemptions under Multilateral Instrument 61-101.
We seek Safe Harbor.
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