Supreme Cannabis Files Prospectus Supplement

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TORONTO, Sept. two, 2020 /PRNewswire/ – The Supreme Cannabis Enterprise, Inc. (“Supreme Cannabis” or the “Enterprise“) (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 widespread shares of the Enterprise 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 Enterprise will challenge an aggregate of 116.six million widespread 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 via CDS just before 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 necessary 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 necessary to make the suitable election via CDS as described above.

On September 9, 2020 the Enterprise will enter into a supplemental trust indenture to implement the Amendments. At such time, all Amendments to the Debentures will come to be efficient 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 take place on a post-Amendment basis.

About Supreme Cannabis.

The Supreme Cannabis Enterprise, Inc., (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1), is a international diversified portfolio of distinct cannabis corporations, merchandise and brands. Due to the fact 2014, the Enterprise has emerged as one particular of the world’s most premium producers of recreational, wholesale and health-related cannabis merchandise.

Supreme Cannabis’ portfolio of brands caters to diverse customer and patient experiences, with brands and merchandise that address recreational, wellness, health-related and new customer preferences. The Company’s recreational brand portfolio consists of, 7ACRES, Blissco, 7ACRES Craft Collective, Sugarleaf and Hiway. Supreme Cannabis addresses national and international health-related cannabis possibilities via its premium Truverra brand.

Supreme Cannabis’ brands are backed by a focused suite of planet-class operating assets that serve important functions in the worth chain, such as, scaled cultivation, worth-add processing, automated packaging and item testing and R&ampD. Comply with the Enterprise on Instagram, Twitter, Facebook, LinkedIn and YouTube.

We just develop improved.

Forward-Hunting Information and facts.

Specific statements produced in this press release, such as statements regarding the proposed amendments to the Debentures and the completion and timing thereof, constitute “forward-seeking details” inside the which means of applicable securities laws. Forward-seeking details could relate to anticipated events or outcomes and other statements that are not historical information. The forward-seeking details contained in this press release is produced as of the date hereof, and the Enterprise is not obligated to update or revise any forward-seeking details, no matter if as a outcome of new details, future events or otherwise, except as necessary by applicable securities laws.

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Supply The Supreme Cannabis Enterprise, Inc.

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