Supreme Updates Option to Purchase Press Release and Announces Private Placement

Supreme Pharmaceuticals Inc. (the "Company") (TSX VENTURE:SL)(OTCBB:SPRWF) is
pleased to announce that the Company has signed a conditional agreement with an
arms-length South Okanagan-based company, whereby the Company has the option to
purchase its producing medical marijuana business until March 23, 2015 for the
sum of $1,000,000, payable in cash and shares, subject to regulatory approval.
The Company is currently in a 10-business day due diligence period and if
satisfied, Supreme will, subject to prior approval of the TSXV, make a $100,000
option payment.


The medical marijuana industry in Canada is undergoing massive reform as a
result of the new Marijuana for Medical Purposes Regulation ("MMPR") regulation
scheduled to come into effect April 1st, 2014, or some date thereafter-pending
legal review. The vendor of the optioned medical marijuana business (the
"Vendor") is currently producing marijuana under Medical Marijuana Access
Program ("MMAP") licences and with Friday's court injunction to extend the MMAP
program, will be able to continue to operate under its current licences past the
April 1st, 2014 deadline until a trial can be held to argue this further,
currently anticipated to be in 9 months. The Vendor will be applying for the new
MMPR licence to produce and sell commercial medical marijuana, a process
expected to take several months. Health Canada has currently issued a total of
twelve commercial licences and has advised that it will be issuing additional
licences. The Company's initial assessment is that the Vendor and its advisors
meet the criteria set forth by the government due to its advanced business plan
and key industry veterans involved. The Vendor is a past and current producer
and has been in business since July of 2013 with 4 licenses for personal
production. There is no assurance that such a license will be granted to the
Vendor, which will be a key condition in the Company's decision as to whether to
exercise the option or not.


British Columbia is known for its high quality marijuana production. Health
Canada has reported that British Columbia produces 69.4% of the medical
marijuana plants authorized for production within the country. British Columbia
is prolific for both its agriculture and horticulture. The climate for growing
marijuana in the Okanagan is arguably the best in the world. Analysts and
industry experts estimate that this new commercial scale medical marijuana
industry could reach $2.6 billion by 2016.


President and CEO Mr. David Stadnyk states, "We are excited to be able to enter
into an agreement to purchase a business that is established and has a realistic
chance of acquiring a major MMPR commercial license from Health Canada. We are
continuing to evaluate additional opportunities in both Canada and the United
States, which will give our shareholders upside potential. We believe this
industry is in its infancy and we are excited to be able to get into the
business in the industry's early days. We think that this life science field
complements the pharmaceutical and bio-medical devices that we are currently
reviewing, and that 2014 will be a satisfying one for our shareholders."


The Company also announces that it is undertaking a non-brokered private
placement of up to $500,000 by the issuance of units at $0.075, with each unit
consisting of one common share and one warrant entitling the holder to purchase
one additional share for 2 years at $0.10. The Company will pay commissions to
those arms length finders assisting in the private placement of 8% cash, and 8%
in finder's warrants to purchase shares at $0.075 for 2 years. Proceeds will be
used for general working capital.


The Company will issue a further press release when further information becomes
available for publication.


SUPREME PHARMACEUTICALS INC.

David Stadnyk, President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FORWARD LOOKING INFORMATION

This News Release contains forward-looking statements. The use of any of the
words "anticipate", "continue", "estimate", "expect", "may", "will", "project",
"should", "believe" and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the expectations
and assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this News Release. Actual results could
differ materially from those currently anticipated due to a number of factors
and risks including various risk factors discussed in the Company's disclosure
documents which can be found under the Company's profile on www.sedar.com. This
News Release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Supreme Pharmaceuticals Inc.
David Stadnyk
President & CEO
[phone]
[e-mail]
www.supremepharmaceuticals.com