You call "preem" something that is cool, great, something that feelspremium. It's a positive adjective.
"This gonk ran drove the wall and flatlined, what a shame, his AV was actually preem".
"I got a preem gun here, Jackie gave it to me. May he rest in peace, see him in the major leagues!"
"All of these eddies just for me? Preeeeem!"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.