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]]>The industry is blossoming, and with that has come employment opportunities.
Universities are dedicating staff to run cannabis training programs. Kwantlen Polytechnic University’s Cannabis Career Training Program courses cover a wide gamut, from marketing in a heavily regulated environment to plant production to starting a cannabis business. And the institution says those courses are in high demand.
A quick search for cannabis jobs in B.C. alone yields hundreds of results with a plethora of positions, from “budtender” to “trimmer” to “cultivation manager” to GM positions for retail storefronts.
An Ottawa Canopy Growth facility alone is said to employ 1,300, and Aphria’s facility in Ontario employs roughly 1,000. In New Brunswick, Zenabis Global employs more than 400.
But there are thousands more positions across the country.
Statistics Canada reported in August that since the 2017-18 fiscal year, the numbers of companies and employees have “continued to grow rapidly,” reaching 175 companies and approximately 9,200 employees by April 2019.
And that number is surely risen since, but it’s the most recent data reported by Statistics Canada.
In a September 2019 labour force survey, released last week, Statistics Canada reported that employment in the agriculture sector saw a 3.6 per cent increase from September of 2018 to this past September.
According to Stats Can, about 60% of employees in cannabis establishments worked on cultivation, harvesting, processing, manufacturing and administration. Another 20% worked on packaging, marketing, sales and shipping activities. The remainder worked on quality assurance, research and development, security, engineering and general maintenance activities.
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]]>The post FSD PHARMA ANNOUNCES THE FILING OF AN AMENDED ANNUAL MD&A FOR 2018 appeared first on Investing in Cannastocks.
]]>The Amended 2018 MD&A was filed to address comments received from OSC staff and in order to improve the Company’s disclosure. Specifically, the Amended 2018 MD&A has been revised:
The revisions relate only to the management’s discussion and analysis and no changes were made to the financial statements for the relevant period.
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
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]]>The post FSD Pharma, Great Value Within The Cannabis Market appeared first on Investing in Cannastocks.
]]>The medical research and development Company terminated its joint venture agreement with Auxly Cannabis Group Inc. (TSX-V: XLY), which was a controversial move, but in hindsight, proved to be a seminal decision.
Intending to develop a portion of FSD Pharma’s cannabis cultivation facility, the Company had invested $7.5 million into construction by the time the agreement was terminated over contractual breaches.
Conventional wisdom in the cannabis industry has favoured growth over profitability. FSD decided to choose measured growth and control its expenses. Ending the Auxly relationship was not a popular decision at the time, but left unchecked, the joint venture would have only added to the market’s oversupply, along with compounding expenses for buildout and HR requirements, putting FSD into a very precarious financial situation.
This glut of supply (and a shortfall in sales), combined with packaging issues, distribution delays and regulatory challenges, led to a prudent decision by FSD’s leadership. In forecasting the industry challenges, the Company moved to protect its shareholder value by not investing precious resources into an expensive build out of the Cobourg, Ontario facility.
Even so, FSD still has tremendous production potential – nearly 4 million square feet of production space in one location — the worlds largest indoor facility.
Compared to the largest growers in Canada combined: Aurora Cannabis (TSX:ACB) , Aprhia Inc. (TSX:APH) and The Green Organic Dutchman (TSX:TGOD) can produce in excess of 1.5 million kg of cannabis a year at peak capacity, which is roughly 10 times current production.
Instead, FSD is looking deeper into its own resources. The Company will be the first in the cannabis industry to double-down its advance of R&D into synthetic cannabinoid compounds. Through FDA approved clinical trials, the goal will be to target the endocannibinoid system of the human body, with the grander objective to eventually commercialize cannabinoid-based prescription medications in United States and around the world. This would help alleviate pain and suffering of countless number of people, while targeting certain diseases of the central nervous system, some skin conditions and auto-immune musculoskeletal disorders.
First, the Company launched its Biosciences Division earlier this year and acquired US-based Prismic Pharmaceuticals for $17.5 million. This is a platform company, with a world class expert in the field, Dr. Ed Brennan as the President of the Division. FSD also assembled the most robust and highly qualified Scientific Advisory Board under the leadership of Dr. Larry Kaiser, President & CEO of Temple Health system.
FSD Pharma has also embarked on a plan to list on a major US exchange and retained Paul Weiss law firm for legal assistance through the process.
To increase visibility in the US capital markets and list on a major US exchange, on October 11th 2019, FSD announced the largest stock consolidation in the history of Canadian stock exchange. While this may not appear to be a popular decision at this time, much like the Company’s move to terminate its Auxly relationship,FSD’s leadership stands by this and views it to be just as seminal and appropriate.
Read more at https://stockhouse.com/news/newswire/2019/10/22/fsd-pharma-still-great-value-within-cannabis-market#M72PKZVo16O0QC09.99
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]]>The post FSD Pharma Announces Temporary Change to OTCQB Ticker Symbol to FSDDD appeared first on Investing in Cannastocks.
]]>The post FSD Pharma Announces Temporary Change to OTCQB Ticker Symbol to FSDDD appeared first on Investing in Cannastocks.
]]>The post FSD Pharma: Temporary Change in OTCQB Ticker Symbol to FSDDD appeared first on Investing in Cannastocks.
]]>The temporary change is protocol for exchange stocks that undergo structural events, such as the 1:201 share consolidation announced by FSD Pharma on October 11, 2019 to advance the Company’s strategic plan to increase visibility among U.S. investors and list on a major U.S. exchange.
About FSD Pharma
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
Forward-Looking Information
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release, including statements relating to the Consolidation and the Company’s intent to list on a major U.S. exchange, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
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]]>The post FSD PHARMA APPOINTS FORMER MEMBER OF U.S. CONGRESS TO ITS BOARD OF DIRECTORS, ANNOUNCES SHARE CONSOLIDATION appeared first on Investing in Cannastocks.
]]>“In welcoming Steve Buyer to the FSD Pharma Board of Directors and announcing a share consolidation, the Company has made an immense positive stride forward” said Raza Bokhari, MD, Executive Co-Chairman and CEO. “Steve’s addition has further strengthened the independence and profile of the FSD Pharma Board of Directors; his broad leadership experience and pharmaceutical industry relationships will help enhance our visibility, especially among U.S. Institutional investors and on U.S. Capitol Hill. The share consolidation or reverse split of our stock is timed to advance our strategic plan to raise the profile of our company in the U.S. capital markets, which includes listing on a major U.S. stock exchange in the near future” continued Dr. Bokhari.
“I’m pleased to be joining the FSD Pharma Board of Directors. The opportunity to participate in FSD’s growth at this stage is exciting. Unfortunately, auto immune diseases have clustered in my wife’s family. I am attracted by FSD’s medical research to tame and define the unknown by challenging the edges of medical science to provide relief to people suffering from fibromyalgia and other serious illnesses,” stated Mr. Buyer.
Stephen Buyer was a member of the United States House of Representatives, serving nine consecutive terms from January 1993 to January 2011. During Congressman Buyer’s long tenure in the Congress, he served on the Committees on Veterans Affairs, Armed Services, Judiciary, Energy and Commerce Committees and also served on the Military Compensation and Retirement Modernization Commission. He is presently the Managing Partner of the 10-Square Solution, LLC, focusing on business development, mergers and acquisitions, and representation before the federal government.
Congressman Buyer served as Chairman of the Committee on Veterans Affairs for the 109th Congress, as well as the Ranking Minority Member for the 110th and 111th Congresses. He centralized the VA’s IT architecture and was named to the Federal IT top 100. Congressman Buyer also served on the House Armed Services Committee from 1993 to 2001, including as Chair of the Subcommittee on Military Personnel in the 105th and 106th Congresses. He founded and co-chaired the National Guard and Reserve Components Caucus. He created the renewable energy portfolio for the Department of Defense and Veteran Affairs. He was the architect of TRICARE For Life and authored the U.S. military’s pharmacy redesign. His other Congressional assignments included service on the Health, Energy, and Technology subcommittees of the Committee on Energy and Commerce from 2001 to 2010, where he assisted in creating Medicare Part D, authored the electronic pedigree pharmaceuticals distribution system, served as a House Conferee on the Telecommunications Act of 1996, and lead the Congressional effort to reorganization of the U.S. Olympic Committee. He also served the House Committee on Judiciary from 1993 to 1999.
Congressman Buyer, as an Army Reserve officer, served four years on active duty, including a tour of duty in Iraq during the first Gulf War (1990-91) where he was awarded the Bronze Star as an Operational Law Judge Advocate. Prior to JAG, he was a Medical Service Corps Officer for 4 years. Congressman Buyer, after 30 years of service, retired with the rank of Colonel in the U.S. Army Reserve Judge Advocate General Corps.
Prior to his tenure in the United States Congress, Congressman Buyer served as a Special Assistant United States Attorney, Indiana Deputy Attorney General, and engaged in a private law practice.
Congressman Buyer is a distinguished military graduate of The Citadel in 1980 with a B.S. degree, and received his J.D. from Valparaiso University School of Law in 1984. He is a member of the Indiana and Virginia state Bars.
In addition, FSD is pleased to announce that its Board of Directors has approved the Consolidation on a 1:201 basis. Effective October 16, 2019, with a record date of October 17, 2019, the Company expects to begin trading the Class B Shares on the Canadian Securities Exchange on a post-Consolidation basis under its existing name and ticker symbol. The new CUSIP and ISIN for the Class B Shares are 35954B206 and CA35954B2066, respectively.
The Company currently has 1,582,966,252 Class B Shares outstanding and the Consolidation will reduce the issued and outstanding Class B Shares to approximately 7,874,809 Class B Shares. The Consolidation was approved by FSD shareholders at the Company’s special meeting held on January 22, 2019, and will allow the Company to continue to pursue the listing of the Class B Shares on a major U.S. exchange.
The Company will not be issuing fractional post-Consolidation FSD Shares in connection with the Consolidation. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional FSD Share, the number of post-Consolidation FSD Shares issued to such holder of FSD Shares shall be rounded down to the nearest whole number of FSD Shares. In calculating such fractional interests, all FSD Shares held by a beneficial shareholder shall be aggregated.
A letter of transmittal with respect to the Consolidation will be mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their certificates representing pre-Consolidation FSD Shares along with a completed letter of transmittal to the Company’s transfer agent, Computershare Investor Services Inc. (“Computershare”), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Computershare. All shareholders who submit a duly completed letter of transmittal along with their pre-Consolidation FSD Share certificate(s) to Computershare will receive a post-Consolidation share certificate. Shareholders who hold their FSD Shares through a broker or other intermediary and do not have FSD Shares registered in their name will not need to complete a letter of transmittal.
The exercise or conversion price and the number of FSD Shares issuable under any of the Company’s outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof. After the Consolidation, there will be approximately 1,033,782 stock options and warrants to purchase 576,499 Class B Shares outstanding.
The Class A Shares will also be consolidated on a 1:201 basis, such that post-Consolidation there will be 72 Class A Shares issued and outstanding, each Class A Share representing 276,660 votes on all matters. Based on the current issued and outstanding number of FSD Shares, the Class A Shares collectively represent approximately 72% of the voting rights.
For more information, please visit FSD News.
About FSD Pharma
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
Forward-Looking Information
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release, including statements relating to the Consolidation and the Company’s intent to list on a major U.S. exchange, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
For further information:
Zeeshan Saeed, President and Founder, FSD Pharma Inc.
zeeshan@fsdpharma.com
(416) 854-8884
Investor Relations
IR@fsdpharma.com
www.fsdpharma.com
Or
LHA Investor Relations
Miriam Weber Miller
MMiller@lhai.com
(212) 838-3777
The post FSD PHARMA APPOINTS FORMER MEMBER OF U.S. CONGRESS TO ITS BOARD OF DIRECTORS, ANNOUNCES SHARE CONSOLIDATION appeared first on Investing in Cannastocks.
]]>The post FSD PHARMA CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT AT $4.58 MILLION, EXTENDS OFFERING appeared first on Investing in Cannastocks.
]]>The net proceeds from the Private Placement will be used for the expansion of the Company’s biosciences division, including the research and development of PP-101 (micro-palmitoylethanolamide (micro-PEA) plus pregabalin) – the Company’s pre-clinical drug candidate for the treatment of symptoms related to fibromyalgia – and for general corporate purposes, including working capital, potential investments and acquisitions.
Given that members of senior management and board of directors participated in the Private Placement, that portion of the Private Placement constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). In its consideration and approval of the Private Placement, the board of directors of the Company determined that the Private Placement was exempt from the formal valuation and minority approval requirements of MI 61- 101 on the basis that the fair market value of the Private Placement to related parties did not exceed 25% of the market capitalization of the Company, in accordance with Sections 5.5 and 5.7 of MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Shares in the United States. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information visit the FSD Pharma website.
About FSD Pharma
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
Forward-Looking Information
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release.
This release includes forward-looking statements regarding the Company and anticipated transactions involving the Company. Forward-looking events and circumstances discussed in this release include statements regarding the completion of additional tranches of the Private Placement and the timing thereof, the expected size of the Private Placement, and the use of proceeds from the Private Placement. The subject or results of any forward-looking statement may not occur by any specified or expected dates or at all, and could differ materially as a result of known and unknown risk factors and uncertainties affecting the parties, including but not limited to failure to obtain investor participation in the Private Placement, market sentiment toward the Company’s securities, and lack of regulatory approval for the Private Placement. The outcome of the subject of any forward-looking statement cannot be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For further information:
Zeeshan Saeed, President and Founder, FSD Pharma Inc.
zeeshan@fsdpharma.com
(416) 854-8884
Investor Relations
IR@fsdpharma.com
www.fsdpharma.com
Or
LHA Investor Relations
Miriam Weber Miller
MMiller@lhai.com
(212) 838-3777
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]]>The post FSD Pharma inks Letter of Intent for joint cannabis extraction venture with World-Class Extractions appeared first on Investing in Cannastocks.
]]>FSD Pharma Inc (CSE:HUGE) (OTC:FSDDF) has signed a letter of intent to create a joint venture between its subsidiary FV Pharma Inc and World-Class Extractions Inc to operate a cannabis processing facility.
FSD and World-Class will each own 50% of the joint venture, which consists of a five-year lease agreement at FSD’s facility in Cobourg, Ontario beginning December 1. The plan is to extract cannabidiol (CBD) and other elements from cannabis and hemp plants.
At the facility, FV Pharma will install World-Class’ signature Boss Extraction and Processing units, which have been designed by its subsidiary Soma Labs Scientific. The units will occupy 5,000 square feet at the facility.
FSD has agreed to provide additional space if necessary to accommodate World-Class’s large capacity ethanol extraction system, known as Small Beast. FSD will also manage the equipment once it is up and running.
“This joint venture provides us with additional revenue opportunities as we process our pharmaceutical-grade cannabis flower into high-quality oil-based products to meet the increasing demand for such products in the medicinal space.”
World-Class CEO Rosy Mondin expressed similar sentiments.
“World-Class is thrilled to be the official extractor of FV Pharma, while opening up our processing operations to other Canadian producers,” Mondin said. “This milestone is incredibly significant as World-Class is now ready to accept new tolling contracts and officially begin to generate revenue in the near term.”
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]]>The post FSD PHARMA SIGNS LOI TO ESTABLISH JOINT VENTURE WITH WORLD-CLASS EXTRACTIONS TO DEPLOY FULL EXTRACTION PROCESSING CENTER appeared first on Investing in Cannastocks.
]]>– Joint Venture to develop, manage and operate cannabis extraction and processing center at FSD Pharma Facility in Cobourg, Ontario –
Toronto, September 25, 2019 – FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9) (“FSD Pharma”, “FSD” or “the Company”) today announced the signing of a letter of intent (“LOI”) to establish a joint venture (the “Joint Venture”) with the Company’s wholly-owned subsidiary, FV Pharma Inc. (“FV Pharma”), and World-Class Extractions Inc. (“World-Class”) (CSE: PUMP) (FRA: WCF) to develop, manage and operate a cannabis extraction and processing facility in Cobourg, Ontario (the “Facility”) to extract various cannabidiol and other valuable elements from cannabis and hemp plants. The “LOI” amends, supersedes and replaces, in its entirety, the Collaboration and License Agreement entered into as of November 23, 2018 by and between World-Class and FV Pharma. Following execution of the LOI, FSD Pharma and World-Class will each hold a fifty (50%) interest in the Joint Venture. The Joint Venture is expected to enter into a 5-year lease agreement with an additional 5-year option (the “Lease Agreement”) with FV Pharma to install the Boss Extraction and Processing unit(s) designed by World-Class’ subsidiary Soma Labs Scientific, occupying up to 5,000 sq. ft. of licensed indoor space at the Facility. The lease will commence December 1, 2019 and contain provisions for the expansion of the Facility during the first six (6) months of operation. Under the terms of the LOI, FSD Pharma has agreed to allocate additional finished space as required to expand the extraction and processing Facility to accommodate the installation of World-Class’ Small Beast (a large capacity ethanol extraction system) along with all the required peripheral equipment for the processing of crude into refined products.
The patent-pending Boss Extraction system provides proprietary systems and methods for producing cannabis extracts. Its technology can perform sub-critical CO2 extraction; combining proprietary max flow technology with advanced thermodynamics, automated features, and an exclusive plug and play design. The Boss features a maximum processing capability of up to 200 lbs per day, scalability add-on features, and continuous flow to produce extracts that have substantially greater concentrations of target cannabinoids and possess minimal contaminants. The Boss Extraction system is intended to provide third-party Licensed Producers with access to the technology needed to extract oil for value-added product production.
Once established, both parties to the Joint Venture will contribute the following resources to develop, manage and operate the cannabis extraction and processing center at the Facility:
Additional provisions under the Joint Venture once established:
The Joint Venture is expected to provide additional revenue and partnership opportunities for both parties as the processing center is capable of performing toll processing extraction for third-party Licensed Producers using FV Pharma’s processing license. The FV Pharma Facility, formerly Kraft Canada’s production facility, is located approximately one hour’s drive from Toronto and is equipped with numerous on-site resources, making it a favorable location for third-party toll processing contracts.
Raza Bokhari, MD, Executive Co-Chairman and CEO of FSD Pharma stated, “This is an important development for FSD Pharma, allowing the Company and World-Class to establish a processing center for on-site extraction of oil-based products and extracts at our Facility in Cobourg in 2019. Using FV Pharma’s processing license, the Joint Venture can begin processing once the Boss Extraction Systems are installed and our agreement is finalized. This Joint Venture provides us with additional revenue opportunities as we process our pharmaceutical-grade cannabis flower into high-quality oil-based products to meet the increasing demand for such products in the medicinal space.”
Rosy Mondin CEO of World-Class stated, “World-Class is thrilled to be the official extractor of FV Pharma, while opening up our processing operations to other Canadian producers. The toll processing model is economical as license holders can create valued added cannabis oil derivative products under their corporate brand(s) without major expenditures on in-house extraction machinery or requiring a processing license. This milestone is incredibly significant as World Class is now ready to accept new tolling contracts and officially begin to generate revenue in the near term.”
About FSD Pharma
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019. FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
For more information visit the FSD Pharma website.
About World-Class
World Class Extractions provides scalable extraction and processing solutions for the cannabis and hemp industries through two wholly-owned subsidiaries – Soma Labs Scientific and Greenmantle Products. World-Class develops advanced technology and processes for streamlined cannabis extraction, formulation and product development. World-Class is set to become an international leader and developer of industrial scale extraction and processing systems to produce high margin, quality cannabis products and premium consumer brands – from Green to Gold.
Forward-Looking Information
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release, including statements relating to the Private Placement and the expected size and closing thereof, constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Actual results and developments may differ materially from those contemplated by these. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information. The foregoing statements expressly qualify any forward-looking information contained herein.
For further information:
Zeeshan Saeed, President and Founder, FSD Pharma Inc.
zeeshan@fsdpharma.com
(416) 854-8884
Investor Relations
IR@fsdpharma.com
www.fsdpharma.com
Or
LHA Investor Relations
Miriam Weber Miller
MMiller@lhai.com
(212) 838-3777
The post FSD PHARMA SIGNS LOI TO ESTABLISH JOINT VENTURE WITH WORLD-CLASS EXTRACTIONS TO DEPLOY FULL EXTRACTION PROCESSING CENTER appeared first on Investing in Cannastocks.
]]>The post Full interview: FSD Pharma expects to report meaningful medical cannabis sales revenue in 3Q appeared first on Investing in Cannastocks.
]]>Dr. Bokhari says last week, the company reported modest 2Q earnings generated mostly from rental leases. Now, Dr. Bokhari says, because the company has secured a license to sell medicinal cannabis, revenues from this will be realized in its fiscal third quarter.
DISCOVER: FSD Pharma Joins The Stock Day Podcast to Discuss Their Expanding Revenue Potential
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet.
FSD’s wholly-owned subsidiary, FV Pharma, is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its full Sale for Medical Purposes license on June 21, 2019 . FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
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]]>