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CA (ON): Supreme closes $4 million mortgage

Supreme Pharmaceuticals has closed a $4,000,000 mortgage with a private lender with respect of its wholly owned subsidiary, 8528934 Canada Ltd. and the 7 Acres' Hybrid Greenhouse in Kincardine, Ontario. The mortgage is a one-year, 12%, fixed-rate, interest only facility. The proceeds from the mortgage were used to re-finance the prior vendor-take back mortgage.

"This is another milestone for Supreme and our wholly owned subsidiary 7 Acres," said John Fowler, CEO of Supreme. "The Hybrid Greenhouse is exceeding performance expectations with a high quality first crop nearing harvest in the 16,500 sq. ft. 'Phase 0' while we expand the production area by 80,000 sq. ft. into 'Phase 1'."

For more information:
Supreme Pharmaceuticals
202 – 20 De Boers Dr, Toronto ON
M3J 0H1
Phone: (416) 630-7272
[email protected]
www.supreme.ca