Supreme Pharmaceuticals (CSE:SL) is looking for shareholders to further strengthen its coffers with a warrant exercise incentive program for a limited time period.
"We are pleased to be the first issuer on the Canadian Securities Exchange to utilize a warrant incentive program," said John Fowler, Supreme's president.
"We have enjoyed strong shareholder support this year, and management decided it is advantageous for Supreme to look to its existing securityholders to strengthen our treasury and accelerate go-to-market initiatives."
Those who hold warrants as a result of April's placing will, from December 7, be able to exercise such warrants up to January 8 next year, and shall, as well as the common share the holder would have received, get an additional share purchase warrant.
These allow the holder to purchase one common share at an exercise price of 32 cents before April 23, 2020.
If a holder of an April warrant does not take part in the incentive program, it will continue to be exercisable in accordance with the previous terms.
Last month, the medical marijuana group reported a narrower loss in its fiscal first quarter.
Net loss shrank to $0.5mln in the three months ended September 30, from a net loss of $2mln in the year-earlier period.
Supreme said it intends to generate revenue, once licensed, from the sale of dried marijuana and similar products to Canadian licensed producers pursuant to wholesale agreements.