Supreme Pharmaceuticals (
CSE: SL,
Forum) has been waiting on its MMPR from Health Canada for quite some time now, but the Canadian regulatory body has been in a bureaucratic funk, dragging its heels. Even though the Vancouver-based company cashed up recently and looks to be well-moneyed to bring about its end game of MMJ production, it has been at a relatively stand still and share price has reflected that.
Now as some industry analysts have speculated that the company may be better to tackle micro-greens than wait on HC to finally provide approval, the markets have mysteriously shown the company a fair bit of love today and SP has gone up considerably on no news.
This upward movement has led some to believe that there may have finally been some action on Health Canada’s behalf that might actually allow Supreme to move forward and dominate the space as it has promised since its inception. However, all of this is still conjecture and until there is some solid confirmation, this bounce may deflate as quickly as it came on.
Supreme Pharmaceuticals was in the news recently when
the MMJ hopeful was highlighted in the latest Medical Marijuana Update by Stockhouse’s own Chris Parry.
Shares were up 25.93% to $0.17 per share.
Currently there are 78.8m outstanding shares with a market cap of $13.4 million.
FULL DISCLOSURE: Supreme Pharmaceuticals is a Stockhouse Publishing client.