cannabis

Posts, updates and videos about cannabis – updated automatically.

FSD Pharma Announces New Leadership Appointment and Board Change

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), a licensed producer under the Cannabis Act, today announced that Sara May, Ph.D., has been appointed President of FV Pharma (“FV”), a wholly owned subsidiary of FSD Pharma, effective immediately. Dr. May replaces Thomas Fairfull, former President of FV Pharma, as Mr. Fairfull transitions out of the company.

Currently responsible for quality assurance at FV Pharma, Dr. May has over ten years of experience designing, implementing and managing large-scale research projects in the field, laboratory and greenhouse settings. Additionally, Dr. May has held numerous leadership positions within the medical cannabis industry where she oversaw project operations and implementation of quality control and quality assurance measures and standard operating procedures. Dr. May has accumulated expertise in National, International, Provincial and Regional Legislative Acts and Regulations.

“We are excited to elevate Dr. May’s current position to President of FV Pharma. Her significant experience managing cannabis operations has already proven a great addition to the company,” said FSD Pharma Executive Co-Chairman and CEO Dr. Raza Bokhari. “Her robust expertise has been remarkable and will support efficient advancement of the strategic objectives of FV and FSD Pharma.”

Additionally, FSD Pharma announced today that following the termination of FSD Pharma’s joint venture with Auxly Cannabis Group, Vladimir Klacar, Auxly nominated Director, has resigned from the Board of Directors at the request of the Company.

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new 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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Nic Johnson, Email: Nic.Johnson@russopartnersllc.com, Tel: (212) 845-4242

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FSD Pharma Enters into Five Year Supply and Loan Agreement with Canntab Therapeutics and World Class Extractions on Organic Hemp Deal

FSD enters into agreement for right/ option to purchase up to CAD$ 5 million of hemp crop for 5 years commencing in 2019

 

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), a licensed producer under the Cannabis Act, announced today that it has entered into a supply and loan agreement (the “Agreement”) with Canntab Therapeutics Ltd. (“Canntab”) and World Class Extractions Inc. (“World Class”) (collectively, the “Purchasers”) to purchase hemp flower from Thomas Elcome (the “Supplier”). Pursuant to the Agreement, the Supplier grants the Purchasers the right and option to purchase up to CAD$ 5.0 million of the Supplier’s hemp crop for a period of 5 years commencing in 2019 at a purchase price of CAD$ 100.0 per kg per 1% of CBD extracted from the flower.

On February 12, 2019, FSD announced that the Company had entered into a three-way supply agreement with Canntab, World Class and the Supplier to purchase up to 1,000 kg of the Supplier’s 2018 organic hemp crop. As with the 2018 hemp crop purchase, the Purchasers intend to extract CBD oil from the 2019-2024 organic hemp crops and process the oil into gel capsules and tablets at the FSD facility in Cobourg, Ontario. The anticipated purchase price for the 2019 crop is CAD$ 1.0 million plus applicable taxes. Of this amount, CAD$ 500,000 will be paid by the Purchasers as a loan to the Supplier in the form of equipment, to be paid back in the form of hemp.

“We intend to take full advantage of the option to purchase up to the maximum total value of organic hemp from Mr. Elcome over the next 5 years beginning with the purchase of CAD $1.0 million of organic hemp in 2019. The hemp industry is expanding at an incredible rate and is expected to grow into a multi-billion dollar industry in North America,” said Dr. Raza Bokhari, Executive Co-chairman & Interim CEO. “Our processing license, received last week, allows FSD to work with Canntab and World Class to process the hemp product into CBD oil, a significant saleable product that can be converted into gel capsules and tablets. Once the edibles legislation is in place later this year in Canada, as we anticipate, FSD will be ready to process and supply the market.”

“On February 19th, Canntab announced that we had begun to convert our interim facilities located within the FSD facility in Cobourg. This latest supply agreement will provide us with a significant amount of CBD oil over the next 5 years, which is required to manufacture our extensive suite of products for sale upon approval by Health Canada. This will include Canntab’s bi-layered hard pill consisting of both instant and extended release to be used in clinical trials to be conducted by Dr. Garbuz, subject to approval by the University of British Columbia Research Ethics Board,” stated Mr. Jeffrey Renwick, Chief Executive Officer of Canntab.

Michael McCombie, CEO of World Class, added, “This is yet another important supply agreement for World Class as it provides us with several years of raw hemp supply that we intend to process into CBD enriched oil and extracts at the FSD Facility. World Class’ continuous flow proprietary extraction technology is perfectly suited to process large scale hemp harvests into full spectrum oil and CBD. World Class is preparing for the next stage of growth for our company as we await approval for our CSE listing. We will have our equipment in place and expect to be processing alongside FSD and Canntab in the coming few months.”

“This supply and loan agreement signed with FSD, Canntab and World Class extends our relationship over several years. The team at our company look forward to providing the highest-quality hemp to meet the needs of our partners in this venture,” said Mr. Thomas Elcome, President of 10975443 Canada Inc.

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development.

About Canntab

Canntab Therapeutics is a Canadian cannabis oral dosage formulation company based in Markham, Ont., engaged in the research and development of advanced pharmaceutical-grade formulations of cannabinoids. Canntab has developed patent-pending technology to deliver standardized medical cannabis extract from selective strains in a variety of extended-release/sustained-release pharmaceutical dosages for therapeutic use. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace. Canntab’s primary focus is on providing cannabis-based products to medical professionals that can be used to deliver therapeutic treatments to their patients. Canntab trades on the Canadian Securities Exchange under the symbol PILL.

About World Class

World Class was incorporated under the Business Corporations Act (Ontario) on January 25, 2018 as a private company. World Class has developed a unique extraction process to produce quality, potent cannabis extracts. The extraction technology (the “WCE Technology”) uses ultrasound to effectively produce extracts from cannabis and hemp and isolate essential compounds found in plant material. The WCE Technology has a number of advantages over conventional extraction methods, including the ability to: (i) produce higher concentrated compounds; (ii) process larger volumes of cannabis or hemp; (iii) utilize undried cannabis or hemp in the process; (iv) utilize all parts of the cannabis or hemp plants, and, (v) reduce production time.

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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email:zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations, Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations, Nic Johnson / Caroline Cunningham, Email: Nic.Johnson@russopartnersllc.com / Caroline.Cunningham@russopartnersllc.com, Tel: (212) 845-4242 / (212) 845-4292

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FSD Pharma Receives Standard Processing License

FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9) announced today that its wholly-owned subsidiary, FV Pharma Inc. (“FV Pharma”), a licensed cannabis producer under the Cannabis Act, has received its Standard Processing License (the “Processing License”). According to Health Canada’s new Cannabis Act regulations, the Processing License is required for any facility that is processing more than the equivalent of 600 kg of dried flowers per year.

Dr. Raza Bokhari, Executive Co-Chairman and Interim CEO, stated, “This is a milestone for our Company and is welcome news for our Cobourg facility. Receiving the Processing License allows the Company to begin packaging cannabis for inspection by Health Canada. Effectively, this is the next step to applying for a pre-sale inspection, which we expect will be scheduled very soon. With the pre-sale inspection just around the corner, we anticipate receiving our sales license and begin generating a revenue stream.”

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 72 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new 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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Contact Information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations, Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Nic Johnson / Caroline Cunningham, Email: Nic.Johnson@russopartnersllc.com / Caroline.Cunningham@russopartnersllc.com, Tel: (212) 845-4242 / (212) 845-4292

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FSD Pharma Provides Update on Operations, Strategy and Leadership

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD”), a licensed producer under the Cannabis Act, today provided a corporate update on operations, strategy and leadership changes.

Management Changes

On February 6, 2019, the Company announced it had implemented changes in leadership and business practices to optimize operations. Accordingly, the Company announced that Dr. Raza Bokhari, Executive Co-Chairman, has been appointed interim Chief Executive Officer of FSD Pharma.

“It is with great pleasure that I return to the role of the interim CEO at such a momentous time for the company,” said Dr. Raza Bokhari, Executive Co-chairman & interim CEO.

Operational Update

To optimize operations, FSD’s Board of Directors terminated a definitive agreement with Auxly Cannabis Group Inc. (“Auxly”) on February 6th, 2019. FSD believes that Auxly was under clear obligation to develop all aspects of the company’s cannabis cultivation facility in mutually agreed upon staged phases. Auxly had made commitments anticipating that the first phase of construction would be completed and ready for Health Canada approval by the end of December 2018 which never materialized.

“We have unique and valuable assets poised to unlock sustainable shareholder value and reenergize execution of our company’s founding vision and mission,” said Dr. Raza Bokhari. “Our work is guided by our drive and passion to capitalize on the opportunities before us and ensure that our efforts serve the strategic and operational goals of the business, our employees and our shareholders.”

Dr. Raza Bokhari continued: “We have a clear plan moving forward to build a global retail and medicinal cannabis footprint. We intend to continue our 220,000 phase 1 building expansion and are assessing different opportunities with other potential strategic partners and construction companies including utilizing our cash, securities and other assets  on hand to continue progressing forward. We will update investors as soon as possible and only upon signing of definitive agreements. We will continue to optimize our 25,000 square foot licensed cultivation area adding high value varietals, while utilizing best practices in the latest agricultural science. We are making good progress with the much-anticipated sales license and we have a strong cash and asset position with no debt.

Strategic Partnerships

In 2018, FSD has made strategic investments totaling CDN $8 million in Cannara Biotech, SciCann Therapeutics (“SciCann”), Hightide Ventures, Huge Shops, and Pharmastrip Corp (“Pharmastrip”). These investments have quickly grown to nearly CDN $25 million as per current market value. Additionally, FSD recently signed royalty agreements with Canntab Therapeutics, Pharmastrip, World Class Extractions Inc., SciCann, and Solarvest BioEnergy Inc. which FSD expects to pay dividends over time.

“Acquisition of a platform company to advance R&D of synthetic and biosynthetic cannabinoids to commercial FDA approved drugs worldwide remains our ‘flagship’ strategy,” said Dr. Raza Bokhari. “We are confident that we will soon identify a suitable and compelling platform to execute on our strategic intent. We were disappointed that the intended acquisition of Therapix Biosciences did not materialize but are at the cusp of unlocking tremendous opportunities for the FDA approved application of synthetic and biosynthetic cannabinoids to address a variety of unmet needs in diseases of the central nervous system, sleep disorders, skin conditions, and to generate alternative treatment options to opioid based therapies.”

Shareholder Update

Shareholders of FSD Pharma met in a special meeting on January 22nd, 2019 and authorized the Board of Directors to consolidate class B shares and take additional steps that will enable the company to list on a major US securities exchange. The FSD Pharma Board is actively engaged in evaluating the appropriate exchange and the optimum time to do so.

The Company believes these are transformational times for the medicinal cannabis industry and for FSD Pharma shareholders, employees, and stakeholders.

“My top priority is to focus on delivering sustainable and positive shareholder value that can withstand the test of time,” said Dr. Raza Bokhari. “To achieve this, we must strengthen our leadership team with gathering world class experience, expand our board with independent members and incorporate gender and cultural diversity in all of our ranks.”

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new 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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email:zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Nic Johnson / Caroline Cunningham, Email: Nic.Johnson@russopartnersllc.com / Caroline.Cunningham@russopartnersllc.com, Tel: (212) 845-4242 / (212) 845-4292

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Value Adds in the Cannabis Space

I have an article up at Seeking Alpha on adding value in the cannabis space.

FSD Pharma (C.HUGE) understood from the beginning that just growing cannabis for the Canadian recreational market was a relatively low margin business and that, over time, those margins would shrink.

While HUGE will certainly capitalize on opportunities in the recreational market, its real focus is on the pharmacological potential of cannabis.

Go read the whole thing.

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FSD Pharma Enters into Supply Agreement with Canntab Therapeutics and World Class Extractions on Organic Hemp Deal

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD”), a licensed producer under the Cannabis Act, announced today that it has entered into a supply agreement (the “Agreement”) with Canntab Therapeutics Ltd. (“Canntab”) and World Class Extractions Inc. (“World Class”) (the “Purchasers”) to purchase hemp flower from Thomas Elcome (the “Supplier”). Pursuant to the agreement, the Purchasers have agreed to buy approximately 1,000 kg of the Supplier’s 2018 hemp crop at a purchase price of $100.00 per kg per 1% of CBD extracted from the flower.

Working alongside Canntab and World Class, FSD will extract CBD from the organic hemp obtained in the purchase order. The Purchasers will process the hemp flower into gel capsules and tablets at the FSD facility in Cobourg, Ontario. This facility is currently being transformed into a large hydroponic indoor cannabis production and processing facility, with multiple business units co-supporting each other and operating under a single roof to exploit economies of scale and operational efficiencies.

The Purchasers are in the process of executing a second agreement with the Supplier for the right and option to purchase the Supplier’s entire 2019 hemp crop and beyond.

“We look forward to working with Canntab, World Class and Mr. Elcome to obtain and produce high-quality hemp and hemp derived products in this burgeoning market where the opportunity is sizable across North America,” said Dr Raza Bokhari, Executive Co-chairman & Interim CEO. “FSD recognizes the significant value and revenue potential that hemp holds in the cannabis industry and is confident in the excellence of Mr. Elcome’s product and the abilities of Canntab and World Class to produce.”

“This is an exciting industry where we see tremendous growth potential for our company and is a great opportunity for Canntab to begin processing at the FSD Facility. Our collaboration and profit sharing agreement signed in September provides us with up to 10,000 square feet of space at the facility to build, install and manufacture a suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets, and other types of cannabis-based products, including sleep aids and pain relievers. This agreement allows our three complimentary companies to realize a common goal of creating value for our shareholders,” stated Mr. Jeffrey Renwick, Chief Executive Officer of Canntab.

Michael McCombie, CEO of World Class, added, “World Class expects to begin installing our patent-pending proprietary extraction technology at the FSD’s Cobourg facility following our imminent listing on the CSE. This agreement will provide us with significant raw hemp supply for processing CBD enriched oil and extracts, which will be available for sale by World Class and/or conversion to gel capsules and tablets by Canntab.”

“FSD, Canntab and World Class are ideal companies to make the most of the 1,000 kg of organic hemp crop produced at my farm in Rockwood, Ontario,” said Mr. Thomas Elcome, President of 10975443 Canada Inc. “Preliminary testing has shown an average of 3% CBD and I am confident that we will be able to extract a very high quality and very valuable full spectrum CBD, and that this will be the beginning of a long and mutually beneficial relationship.”

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development.

About Canntab

Canntab Therapeutics is a Canadian cannabis oral dosage formulation company based in Markham, Ont., engaged in the research and development of advanced pharmaceutical-grade formulations of cannabinoids. Canntab has developed patent-pending technology to deliver standardized medical cannabis extract from selective strains in a variety of extended-release/sustained-release pharmaceutical dosages for therapeutic use. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace. Canntab’s primary focus is on providing cannabis-based products to medical professionals that can be used to deliver therapeutic treatments to their patients. Canntab trades on the Canadian Securities Exchange under the symbol PILL.

About World Class

World Class was incorporated under the Business Corporations Act (Ontario) on January 25, 2018 as a private company. World Class has developed a unique extraction process to produce quality, potent cannabis extracts. The extraction technology (the “WCE Technology”) uses ultrasound to effectively produce extracts from cannabis and hemp and isolate essential compounds found in plant material. The WCE Technology has a number of advantages over conventional extraction methods, including the ability to: (i) produce higher concentrated compounds; (ii) process larger volumes of cannabis or hemp; (iii) utilize undried cannabis or hemp in the process; (iv) utilize all parts of the cannabis or hemp plants, and, (v) reduce production time.

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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Nic Johnson / Caroline Cunningham, Email: Nic.Johnson@russopartnersllc.com / Caroline.Cunningham@russopartnersllc.com, Tel: (212) 845-4242 / (212) 845-4292

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FSD Pharma responds to and corrects misleading Auxly claims

FSD Pharma Inc.(CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9)  a licensed producer under the Cannabis Act, responded today to a press release by its former partner, Auxly Cannabis Group Inc. (“Auxly”) to correct misleading claims.

FSD Pharma strongly denies that it caused any breaches of the Streaming Agreement relating to its management and staffing obligations or otherwise, and rejects the claim that there are material issues with the infrastructure of its cultivation facility in Cobourg, Ontario.

“FSD’s Board and management team are focused on taking action to deliver on a strategy that promotes growth and creates shareholder value. Our work is guided by our drive to capitalize on the opportunities before us in this exciting space and ensure that our efforts serve the strategic and operational goals of the business.

As disclosed on Wednesday, February 6, FSD terminated the Definitive Agreement with Auxly. FSD believes that Auxly was under clear obligation to develop all aspects of the Company’s cannabis cultivation facility in mutually agreed upon staged phases. Auxly issued a press release on July 3, 2018 in which they anticipated that the first phase of construction would be completed and ready for Health Canada approval by the end of December 2018. We simply couldn’t wait any longer for our vendor to perform its obligations and therefore we terminated the agreement,” said Dr Raza Bokhari, Executive Co-chairman & Interim CEO .

Dr. Bokhari continued, “under the terms and conditions of the Streaming Agreement, FSD Pharma and Auxly are subject to a number of non-disclosure obligations that survive the termination. FSD Pharma intends to continue to live up to its surviving obligations, we are hopeful that Auxly will do the same.”

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new 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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Contact Information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Nic Johnson / Caroline Cunningham, Email: Nic.Johnson@russopartnersllc.com / Caroline.Cunningham@russopartnersllc.com, Tel: (212) 845-4242 / (212) 845-4292

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Cannara Biotech Enters Cannabinoid-Infused Beverage Product Category

Cannara Biotech Inc. (“Cannara Biotech” or the “Company”) (CSE: LOVE), a Montreal-based company that is building a vertically integrated cannabis company focused on cultivation and cannabis-infused products, today announced it has entered into a letter of intent with a leading Quebec microbrewery to develop cannabinoid-infused beverages. Following the regulations relating to edibles and beverages coming into effect next October, consumers will be able to purchase a variety of cannabinoid-infused beverages including non-alcoholic beer, kombucha and cider.

“Many of the world’s most successful beverage companies have aggressively invested in Cannabinoid-infused product development underscoring this product category’s market potential,” said Zohar Krivorot, President and CEO of Cannara Biotech. “This agreement also underscores our commitment in building Cannara Biotech into a premium Canadian cannabis company by leveraging our facility’s unique size and flexibility, partnering with industry leaders and supporting these joint ventures with both financial and human capital.”

Cannabinoid-infused beverage sales are forecasted to reach $260 million for North America by 2022, according to Canaccord Genuity. In addition to non-alcoholic cannabinoid-infused beer, this is the first of many partnerships that we intend to use the facility to execute our collaboration strategy to produce edibles, pet-products, cosmetics and other beverages for the Canadian market.

About Cannara Biotech Inc.
Cannara Biotech is building the largest indoor cannabis cultivation facility in Quebec, a modern and secure 625,000 square foot facility located in Farnham, less than 45 minutes from Montreal. Leveraging Quebec’s low electricity costs, Cannara’s facility will produce high-grade indoor hydroponically grown cannabis and derivative products for the Canadian and international markets. Working with partners, Cannara will generate licensing revenues, rental revenues and revenue streams from joint-venture arrangements leveraging this valuable property. For more information, visit our website: www.cannara.ca

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Cannara Biotech Inc.

For further information: Sabrina Williams, Communications Manager, sabrina.williams@cannara.ca, T: 514-543-4200 ext. 265; Zohar Krivorot, President & CEO, zohar@cannara.ca; Lennie Ryer CPA, CA, CFE, Chief Financial Officer, lennie@cannara.ca

Related Links

http://cannara.ca/

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FSD Pharma Signs Collaboration and Profit-Sharing Agreement with Pharmastrip for Production and Delivery of Organic Medical Cannabis Infused in Oral Thin Film Strips

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company), a licensed producer under the Cannabis Act, announced today that it has completed a strategic investment of $1.5 million in Pharmastrip Corp. and signed a definitive collaboration and profit sharing agreement with the company, effective January 23, 2019. Under the terms of the agreement, FSD will install Pharmastrip proprietary equipment at its facility in Cobourg, Ontario. FSD will use the equipment to manufacture organic medical cannabis infused in oral thin film strips. Pharmastrip will grant FSD an exclusive, perpetual license to manufacture and sell the oral thin film strips in Canada.

FSD will seek all approvals and licenses required under the Access to Cannabis for Medical Purposes Regulations and manufacture the product in compliance with all applicable laws and regulations. FSD will submit an application to Health Canada in order to obtain the license to produce and sell the products. FSD will be responsible for all costs, expenses and fees payable to complete and submit the application. Profits from the sale of the products will be shared equally by both parties.

Zeeshan Saeed, Founder and President of FSD, commented, “FSD made this strategic investment because of the potential we see in alternative delivery methods for cannabis, such as Pharmastrip’s oral thin strips. We expect the demand for alternative delivery methods for both THC and CBD to increase as the market continues to develop. We are excited to install Pharmastrip’s proprietary equipment under this collaboration agreement at our Cobourg plant and look forward to beginning production once the necessary license has been granted.”

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).

FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new 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 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 the company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.

SOURCE FSD Pharma Inc.

For further information: Contact Information: Zeeshan Saeed, President, Founder and Director, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Nic Johnson / Caroline Cunningham, Email: Nic.Johnson@russopartnersllc.com / Caroline.Cunningham@russopartnersllc.com, Tel: (212) 845-4242 / (212) 845-4292

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FSD Pharma Announces Signing of LOI with Solarvest to Develop and Test Pharma-Grade Cannabinoids out of Algae

FSD Pharma Inc. (CSE: HUGE) (OTC:  FSDDF) (“FSD Pharma“) and Solarvest BioEnergy Inc. (TSX-V: SVS) (“Solarvest“) (collectively, the “Parties“), a technology company which has developed an algal-based flexible production platform capable of producing health products, are pleased to announce that they have signed a non-binding letter of intent (“LOI“). The parties intend to enter into a definitive agreement (the “Collaborative Research Agreement“), under which Solarvest would conduct research using its algal expression technology to develop pharma-grade cannabinoids (the “Project Cannabinoids“), the Parties would make mutual investments into one another, and Solarvest would grant FSD Pharma an exclusive license over a subset of the Project Cannabinoids and certain royalty rights over all of the other Project Cannabinoids.

The Collaborative Research Agreement

The Parties intend to use commercially reasonably efforts to execute the definitive Collaborative Research Agreement within 30 days, provided that, subject to the receipt of any regulatory approvals including the TSX Venture Exchange, FSD Pharma may extend this by up to an additional 60 days.

CBD Research Project

Solarvest plans to develop and carry out a research project (the “CBD Research Project“) using its algal expression system for the purpose of developing a proof of concept that algae can express the Project Cannabinoids (the “Proof of Concept“). The Parties intend to develop a formal budget and timelines to carry out the CBD Research Project under the Collaborative Research Agreement, and will establish a joint scientific review committee, comprised of representatives from both Parties, to assess the progress of the CBD Research Project against these budgets and timelines.

License and Royalties

Once Solarvest successfully develops the Proof of Concept, the Parties intend to enter into one or more license agreements (together, the “Exclusive License Agreement“), under which Solarvest will grant FSD Pharma an exclusive, worldwide license over any use of the Project Cannabinoids to produce prescription drugs that can treat diseases affecting the central nervous system (the “FSD Licensed Indications“). The Exclusive License will contain terms and conditions usually contained in agreements of a similar nature.

In addition to the licensing arrangement, Solarvest will pay a royalty fee to FSD Pharma on Solarvest’s sale or licensing of any of the Project Cannabinoids, other than the FSD Licensed Indications, equal to 5% of the net sales or net license fees, provided that once Solarvest has paid an aggregate of $3,000,000 in royalty fees, the royalty percentage will be reduced to 3%.

Mutual Investments

The Parties intend, within three days following the receipt of all necessary approvals of the Collaborative Research Agreement, to make the following investments into one another:

a)   FSD Pharma will issue 10,000,000 common shares in the capital of FSD (“FSD Shares“) to Solarvest at a deemed price of $0.30 per FSD Share;

b)   Solarvest will issue 3,000,000 units of Solarvest (“Solarvest Units“) to FSD Pharma at a deemed price of $0.20 per Solarvest Unit, each Solarvest Unit being comprised of one (1) common share in the capital of Solarvest (a “Solarvest Share“) and one (1) warrant (a “Solarvest Warrant“), each Solarvest Warrant being exercisable into one additional Solarvest Share at an exercise price of $0.25 for a period of two (2) years following the issuance thereof; and

c)   Solarvest will issue a convertible debenture to FSD Pharma in the principal amount of $2,400,000 (the “Solarvest Debenture“).  The Solarvest Debenture will have a term of five (5) years, bear interest at a rate of 3% per annum, and be convertible into Solarvest Shares at a conversion price of $1.00 per Solarvest Share, provided that FSD Pharma will be required to convert the Solarvest Debenture should Solarvest Shares close at a price of at least $1.20 for a period of 20 consecutive trading days.

“If successful this could dramatically disrupt current cannabis cultivation methods for medical purposes.  It could reduce the majority of time, space and costs associated with cannabis cultivation for medical purposes specifically cannabis with GMP Certification.  We are very pleased to collaborate with Solarvest on the development of promising alternative methods of cannabinoid production using algal technology” said Zeeshan Saeed, President and Founder of FSD Pharma. “We have been impressed by Solarvest’s management knowledge and operations and believe that future commercial production of cannabinoids using their algal-based production platform combined with our proposed investment in Solarvest have the potential to create significant value for our shareholders.”

“This is an exciting opportunity for FSD Pharma and is in line with our company’s strategic direction. We are continuing to focus our attention and efforts on advanced synthetic cannabinoid R&D and production for the purpose of finding better treatment outcomes for certain diseases of the central nervous system, sleep disorders, certain skin conditions and also looking into effective ways of combating the scourge opioid epidemic in North America. We look forward to working with Solarvest and anticipate positive results from their research study using algae technology to produce pharma-grade bio-synthetic cannabinoids,” added Dr. Raza Bokhari, Executive Co-Chairman of the Board of Directors of FSD Pharma.

About FSD Pharma

FSD Pharma is focused on the development of the highest quality indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome. The Company has 25,000 square feet available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).
FSD facilities sit on 72 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 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. FV Pharma’s vision is to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world. FV Pharma intends to cover all aspects of this exciting new industry, including cultivation, legal, processing, manufacturing, extracts and research and development.

About Solarvest

Solarvest is an algae technology company whose production platform provides it with an extremely flexible system capable of being adapted to produce numerous products.  The company has successfully produced “Organic Omega 3 DHA” fruit gummies and food boosting powders.  The platform has also successfully demonstrated (news release dated March 16th, 2015) the expression of bone morphogenetic protein, a high value therapeutic protein. The Company has successfully produced recombinant viral antigens (immune stimulating proteins), Cecropins (antimicrobial peptides/protein) and has completed a feasibility study for the expression of CBD and THC as a way to produce cannabinoids in sterile GMP facilities.

Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts 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 the FSD Pharma’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Parties’ plans to develop and carry out the CBD Research Project, Solarvest’s development of the Proof of Concept, the ability of the Parties to commercialize the Project Cannabinoids, the execution of the Exclusive License Agreement, and the Parties’ intentions to make equity investments into one another. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that the requisite regulatory and board of direct approvals are not obtained, the failure of Solarvest to develop the Proof of Concept, and the failure of the Parties to successfully commercial the Project Cannabinoids. The forward-looking information contained in this press release is made as of the date hereof, and the neither FSD Pharma nor Solarvest is 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.

SOURCE FSD Pharma Inc.

For further information: FSD Pharma Inc., Zeeshan Saeed, President and Co-Founder, Telephone: (416) 854-8884, Email: zeeshan@fsdpharma.com; Solarvest BioEnergy Inc., Gerri Greenham, Chief Executive Officer, Telephone: (416) 420-0947, Email: ggreenham@solarvest.ca

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