Supreme Cannabis Files Prospectus Supplement

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TORONTO, Sept. two, 2020 /PRNewswire/ – The Supreme Cannabis Organization, Inc. (“Supreme Cannabis” or the “Organization“) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) is pleased to announce that additional to the previously announced amendments (the “Amendments“) to the terms of the Company’s outstanding six.% senior unsecured subordinated convertible debentures issued in October 2018 (the “Debentures“), it has filed a prospectus supplement that qualifies the issuance of up to 58,300,000 popular shares of the Organization to holders of Debentures (the “Debentureholders“) resident in eligible jurisdictions.

The Supreme Cannabis Company, Inc. (CNW Group/The Supreme Cannabis Company, Inc.)

In consideration of the reduction of the principal quantity of the Debentures by $63.five million, amongst other consideration, the Organization will problem an aggregate of 116.six million popular shares (the “Consideration Shares“) to Debentureholders. Debentureholders resident in eligible jurisdictions will get half of the Consideration Shares as freely-trading shares, and the other half of the Consideration Shares will be topic to a 4-month restricted period. Debentureholders resident in other jurisdictions will be entitled to get Consideration Shares topic to restricted periods, topic to applicable securities laws.

In order for eligible Debentureholders to get freely-trading Consideration Shares, such Debentureholders are reminded to instruct their CDS participants to make the suitable election with respect to jurisdiction of residency by means of CDS ahead of the election deadline (the “Election Deadline“), which is anticipated to be on or about September eight, 2020. Any eligible Debentureholder that fails to elect prior to the Election Deadline will get one hundred% of the Consideration Shares topic to a 4-month restricted period.

No action is expected by Debentureholders in order to get their entitlement to Consideration Shares or Accretion Debentures, other than eligible Debentureholders wishing to get freely-trading Consideration Shares getting expected to make the suitable election by means of CDS as described above.

On September 9, 2020 the Organization will enter into a supplemental trust indenture to implement the Amendments. At such time, all Amendments to the Debentures will develop into productive and Debentureholders will get their pro rata entitlement to Consideration Shares and Accretion Debentures.

As of September 9, 2020, trading of Debentures on the Toronto Stock Exchange will happen on a post-Amendment basis.

About Supreme Cannabis.

The Supreme Cannabis Organization, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a international diversified portfolio of distinct cannabis businesses, solutions and brands. Considering the fact that 2014, the Organization has emerged as 1 of the world’s most premium producers of recreational, wholesale and healthcare cannabis solutions.

Supreme Cannabis’ portfolio of brands caters to diverse customer and patient experiences, with brands and solutions that address recreational, wellness, healthcare and new customer preferences. The Company’s recreational brand portfolio contains, 7ACRES, Blissco, 7ACRES Craft Collective, Sugarleaf and Hiway. Supreme Cannabis addresses national and international healthcare cannabis possibilities by means of its premium Truverra brand.

Supreme Cannabis’ brands are backed by a focused suite of planet-class operating assets that serve crucial functions in the worth chain, like, scaled cultivation, worth-add processing, automated packaging and item testing and R&ampD. Stick to the Organization on Instagram, Twitter, Facebook, LinkedIn and YouTube.

We merely develop improved.

Forward-Searching Facts.

Specific statements produced in this press release, like statements regarding the proposed amendments to the Debentures and the completion and timing thereof, constitute “forward-searching data” inside the which means of applicable securities laws. Forward-searching data may possibly relate to anticipated events or final results and other statements that are not historical details. The forward-searching data contained in this press release is produced as of the date hereof, and the Organization is not obligated to update or revise any forward-searching data, regardless of whether as a outcome of new data, future events or otherwise, except as expected by applicable securities laws.

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Supply The Supreme Cannabis Organization, Inc.

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