cannabis

Posts, updates and videos about cannabis – updated automatically.

FSD Pharma Closes Deal to Acquire Prismic Pharmaceuticals

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) and Prismic Pharmaceuticals Inc. (“Prismic”), a US-based specialty R&D pharmaceutical company (the “Parties”), announced today that, on June 28, 2019, they finalized the acquisition by FSD Pharma of all of the issued and outstanding securities of Prismic (the “Transaction”). Pursuant to the terms of a previously-announced securities exchange Agreement, FSD Pharma has acquired all outstanding common and preferred shares of Prismic for an aggregate purchase price of approximately US$17.5 million (CAD$23.4 million based on an exchange rate of US$1 to CAD$1.3349), satisfied by the issuance of approximately 102.7 million Class B subordinate voting shares in the capital of FSD Pharma (each, an “FSD Share”) at a deemed price of CAD$0.2275 (US$0.1704) per FSD Share. In addition, FSD Pharma has agreed to assume approximately US$3.05 million of outstanding Prismic long- and short-term liabilities. All of the outstanding Prismic stock options and warrants have been converted into options and warrants to purchase FSD shares, with the number and exercise price of such securities having been adjusted in accordance with the exchange ratio under the Agreement.

The FSD Shares issued to the former Prismic shareholders were deposited into escrow at the closing of the Transaction, and are subject to an 18-month staggered release.

FSD Pharma will continue to be led by Raza Bokhari, MD, Executive Co-Chairman & CEO. Zachary Dutton, co-founder of Prismic, will continue to serve as the CEO of Prismic, reporting to Edward Brennan, Jr. MD, FACS, President of the FSD Biosciences Division. Peter Moriarty, co-founder and previous Chairman of the Board of Prismic, has been named Chairman of the newly-formed FSD BioPharmaceutical Industry Advisory Board.

Dr. Raza Bokhari, Executive Co-Chairman and CEO stated, “On behalf of the FSD Pharma shareholders and Board of Directors, it is with immense pleasure that I welcome Prismic shareholders and stakeholders to the FSD Pharma family. Over the past several weeks, Dr. Brennan and our M&A team have worked very closely with the Prismic leadership to finalize this transaction under budget and ahead of schedule. I must commend Dr. Brennan on his laser sharp focus and attention to detail and I must also express my special gratitude to Zach Dutton and Peter Moriarty for their efforts in resolving some outstanding issues to close the transaction.”

Dr. Bokhari continued, “the Prismic acquisition represents strategic depth in the vision and mission of FSD Pharma and signals a paradigm shift in the overall outlook of the company. We are relying heavily on the expertise of Dr. Brennan, who is a seasoned pharmaceutical industry veteran with substantial experience from working at Glaxo Smith Kline and Johnson & Johnson to navigate us through the various stages of the FDA approval process for drug development, with the goal of eventually making synthetic cannabinoid prescription medications available for commercial use to help alleviate the pain and suffering of patients. We are confident, Peter Moriarty, another well-known pharmaceutical industry veteran, who was also one of the founders of Shire Pharmaceuticals, will make a meaningful contribution to the FSD Pharma story as the Chairman of the BioPharmaceutical industry advisory board.”

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 additional information on the company, please visit our website at www.fsdpharma.com.

About Prismic Pharmaceuticals

Prismic is a US-based specialty pharmaceutical company dedicated to addressing the opioid crisis by developing novel non-addictive prescription drugs for the treatment of pain, inflammation, and neurological disorders, based on formulations utilizing the company’s micro-PEA development platform (palmitoylethanolamide with particle sizes of 0.6 – 10 microns). Such formulations take advantage of micro-PEA’s “synergistic” or “entourage” effect on certain drugs impacting the endocannabinoid system. This means that lower doses of those drugs may be administered together with micro-PEA to achieve the desired therapeutic effect. This includes the potential combination or concomitant use of micro-PEA formulations with drugs such as THC, CBD, certain anticonvulsants, and opioids where studies have indicated opioid-sparing and tolerance delaying properties of micro-PEA may impact the development of dependence in patients. Prismic’s first prescription drug candidate, PP-101, a 600 mg tablet of micro-PEA, is anticipated to commence a Phase 2/3 accelerated clinical development program in 2020 as a concomitant medication to be administered with pregabalin (Pfizer’s Lyrica®) for the treatment of fibromyalgia.

Prismic was founded by three healthcare industry veterans, Zachary DuttonDanilo Casadei Massari, and Peter Moriarty, who was also one of the founders of Shire Pharmaceuticals.

Forward-Looking Information

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements: that the Transaction will represent a paradigm shift for the Company; that Prismic’s drugs under development will have the capability of addressing the opioid crisis; that the combined resources and leadership teams of FSD Pharma and Prismic will be positioned to execute on clinical development programs and on delivering highly effective products that safely address pain, inflammation and neurological disorders with high unmet clinical needs; that lower doses of certain drugs may be administered together with micro-PEAs to achieve a desired therapeutic effect; regarding the expected timing of Prismic’s Phase 2/3 accelerated clinical development program for Prismic’s PP-101 drug candidate; and statements regarding the expected benefits to the Company and its shareholders as a result of the Transaction. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that Prismic’s proposed drug formulations may not achieve FDA or other necessary regulatory approvals; that Prismic’s micro-PEA formulations may not work as expected or at all; that legislative changes may have an adverse effect on the business and product development of products of the Company and Prismic; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President and Founder, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Or LHA Investor Relations: Miriam Weber Miller, +1 212-838-3777, MMiller@lhai.com; Media Relations: Ned Berkowitz, Email: Ned.Berkowitz@russopartnersllc.com, Tel: (646) 942-5629

Posted in featured_news | Tagged , , , , , | Leave a comment

World Class Announces Appointment of Anthony Durkacz as Chair of the Board of Directors

World Class Extractions Inc. (the “Company” or “World Class”) (CSE: PUMP) is pleased to announce that, effective immediately, it has appointed Anthony Durkacz as Chair of the Board of Directors. Mr. Durkacz was recently appointed to the Company’s Board of Directors in conjunction with its recent merger with Quadron Cannatech Corporation.

Mr. Durkacz is currently the Co-Chair and a Director of FSD Pharma Inc. (CSE: HUGE) and has been a Director and Executive Vice President of First Republic Capital Corp. (“First Republic”) since January 2014. First Republic acted as lead finder in several of the Company’s prior private placement financings, and has raised in excess of $25,000,000 on behalf of the Company to date. Mr. Durkacz holds an Honours Bachelor of Business Administration from Brock University with a major in both Accounting and Finance. He has vast experience in financing, mergers and acquisitions and structuring micro-cap companies to go public. “I am honoured to be selected as the Chairman of the Board and look forward to getting to work with other board members and management to build shareholder value. We are in a most exciting growth phase in the hemp and cannabis extraction industries globally especially in America, Canada and Europe. With the significant previously stated extraction capacity we expect to have later this year, I look forward to assisting management in signing contracts and agreements to produce and sell large scale quantities of high quality CBD and other Cannabinoids with our leading edge extraction technology.” stated Mr. Durkacz.

Forward-Looking Statements

Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward- looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.

Neither 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.

Posted in featured_news | Tagged , , , | Leave a comment

FSD Pharma Receives Full “Sale for Medical Purposes” Cannabis License from Health Canada

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), announced today that its wholly-owned subsidiary FV Pharma Inc. (“FV Pharma”) has received its Full Sale for Medical Purposes license to sell cannabis under the Cannabis Act (Canada). The license is effective as of June 21, 2019.

The latest amendment to the license, originally granted on April 18, 2019, allows the FSD facility in Cobourg, Ontario to supply and sell cannabis products, including dried and fresh cannabis to the medicinal use marketplace. FV Pharma can now begin delivering cannabis to patients who hold prescriptions from authorized healthcare providers.

Raza Bokhari, M.D., Executive Co-Chairman and CEO stated, “Achieving this final step in the sales licensing process is much awaited positive news for all of our shareholders and stakeholders. I am grateful for their continued support and patience. Everyone at our Cobourg facility has worked diligently under the leadership of Dr. Sara May, who deserves special recognition for her commitment to excellence. We can now serve the needs of patients who rely on medicinal cannabis products to manage a range of illnesses and diseases.”

Dr. Bokhari continued, “We would not have realized this coveted milestone without the vision and missionary commitment of our founders Zeeshan Saeed and Anthony Durkacz, who right from the outset through sheer grit, hard work and unwavering conviction in the promise of the medicinal cannabis ecosystem, provided their tireless support to me as board members and trusted colleagues and others before me to make this day possible. I am thankful for their support and the vote of confidence of the entire FSD Pharma Board of Directors, as we begin writing the next chapters of the FSD Pharma story.”

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 that is licensed at its Ontario facility and expansion is currently underway.

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 by 2025.

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 Sale for Medical Purposes license on April 18, 2019. 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. For additional information on the company, please visit our website at www.fsdpharma.com.

Forward-Looking Information

Neither 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 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.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President and Founder, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com Or LHA Investor Relations: Miriam Weber Miller, +1 212-838-3777, MMiller@lhai.com; Media Relations: Ned Berkowitz, Email: Ned.Berkowitz@russopartnersllc.com, Tel: (646) 942-5629

Posted in featured_news | Tagged , , , , , | Leave a comment

Early Warning News Release of World Class Extractions Inc.

In accordance with the requirements of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103“), World Class Extractions Inc. (the “Reporter“) announces that it has acquired beneficial ownership and control over 71,650,447 common shares (“Common Shares“) in the capital of Quadron Cannatech Corporation (“Quadron“), which represents 100% of the issued and outstanding Common Shares.

This announcement is made in connection with the completion of the plan of arrangement (“Arrangement) on June 17, 2019, pursuant to which the Reporter acquired all of the Common Shares. Under the terms of the Arrangement, each former holder of Common Shares received two common shares in the capital of the Reporter (each, a “World Class Share“). For details of the Arrangement, please see the Reporter’s press release dated June 17, 2019.

Immediately prior to the closing of the Arrangement that triggered the requirement for this announcement, the Reporter did not have beneficial ownership and control over any Common Shares. Immediately after the completion of the Arrangement, the Reporter owns 71,650,447 Common Shares, representing 100% of the issued and outstanding Common Shares. As a result of the Arrangement, Quadron became a wholly-owned subsidiary of the Reporter.

The purpose of the Arrangement was to enable the Reporter to acquire all of the outstanding Common Shares. The Reporter holds the Common Shares for investment purposes and may, in the future, increase or decrease its ownership of Common Shares or other securities of Quadron, from time to time depending upon, among other things, the business and prospects of Quadron and future market conditions.

For further information or to obtain a copy of the early warning report filed under applicable securities legislation in connection with the transactions set forth hereunder, please go to the Reporter’s profile on SEDAR, at www.sedar.com, or contact Rosy Mondin at 1-604-473-9569.

This news release contains “forward-looking information” within the meaning of applicable securities law relating to, future plans and intentions of the Reporter and associated matters. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things that the plans of the Reporter may change. The statements in this press release are made as of the date of this release.

info

Posted in featured_news | Tagged , , , | Leave a comment

World Class Extractions and Quadron

World Class Extractions (CNSX:PUMP) Anthony Durkacz & Quadron Cannatech (CNSX:QCC) Rosy Mondin join the Midas Letter Raw video to explain the advantages of the companies’ merger.

One advantage that is already apparent is that the companies have two first class spokespeople in Durkacz and Mondin. A bit advantage in the crowded cannabis sector.

Posted in update | Tagged , , , , | Leave a comment

World Class and Quadron Announce Closing of Plan of Arrangement

World Class Extractions Inc. (“World Class”) (CSE: PUMP) and Quadron Cannatech Corporation (“Quadron”) (CSE: QCC) are pleased to announce that that they have completed their previously announced plan of arrangement (the “Arrangement”) under the provisions of the Business Corporations Act (British Columbia), pursuant to which World Class has acquired all of the common shares of Quadron (the “Quadron Shares”) following Quadron’s amalgamation with World Class’s wholly-owned subsidiary, 1212476 B.C. LTD., to form a new wholly-owned subsidiary of World Class continuing as “Quadron Cannatech Corporation” (“Amalco”).

“The merger of Quadron Cannatech with World Class Extractions accelerates the pace and effectively increases progress towards our strategic goals of becoming the world’s largest extraction company in terms of capacity,” said Rosy Mondin, the new Chief Executive Officer of World Class. “The reconstituted management and board have diverse and strategically-relevant backgrounds to address the global opportunities arising in the cannabis and hemp industries.”

Under the terms of the Arrangement, each former Quadron shareholder is now entitled to receive two common shares of World Class (“World Class Shares”), for each Quadron Share held prior to the Arrangement (the “Consideration”). In addition, options and warrants to purchase Quadron Shares will continue to remain outstanding as options and warrants of Amalco, which, upon exercise, will entitle the holders to receive the Consideration that such holders would have been entitled to be issued if, prior to the closing date of the Arrangement, such holders had exercised their options or warrants. It is anticipated that the Quadron Shares will be delisted from the Canadian Securities Exchange (“CSE“) as of the close of trading on June 17, 2019.

Pursuant to the letter of transmittal mailed to Quadron shareholders as part of the material in connection with the special meeting of Quadron shareholders held on June 7, 2019 (the “Meeting”), in order to receive the Consideration to which they are entitled, registered holders of Quadron Shares will be required to deposit their share certificate(s) representing Quadron Shares, together with a duly completed letter of transmittal, with Capital Transfer Agency, ULC, the depositary under the Arrangement. Shareholders whose Quadron Shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee with questions regarding the receipt of the Consideration.

Management and Board Changes

Upon completion of the Arrangement, the board of World Class was reconstituted to consist of Rosy Mondin, Chand Jagpal, Anthony Durkacz, Dr. Raza Bokhari and Donal Carroll. Ms. Mondin and Mr. Jagpal were nominees of Quadron, Mr. Durkacz and Dr. Bokhari were nominees of World Class, and Mr. Carroll was a joint nominee of World Class and Quadron. In addition, Ms. Mondin was appointed Chief Executive Officer, Leo Chamberland was appointed President and Zara Kanji was appointed Chief Financial Officer of World Class, while Michael McCombie resigned as Chief Executive Officer and Donal Carroll resigned as Chief Financial Officer of World Class.

Advisors

M Partners Inc. provided a fairness opinion to the Board of Directors of Quadron that the Arrangement is fair, from a financial point of view. First Republic Capital Corporation (“First Republic”) acted as financial advisor to World Class. In addition to other fees and expenses payable to First Republic, World Class paid a success fee (the “Success Fee”) to First Republic and Canaccord Genuity Corp. equal to, respectively, approximately 2.73% and 0.77% of the aggregate fair market value of the World Class Shares issuable by World Class to Quadron’s shareholders, payable in World Class Shares.

About World Class Extractions

World Class is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. World Class intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.

For more information, visit: www.wcextractions.com.

About Quadron

Quadron, through its wholly owned subsidiaries, provides turn-key extraction and processing solutions for the cannabis industry including proprietary industrial grade equipment, custom build processing facilities, ancillary products, and scientific services. Quadron delivers streamlined, costeffective and innovative solutions to help licensed growers, producers and processors develop market ready products all to achieve quicker ROI.

For more information, visit: www.quadroncannatech.com.

Neither 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.

Cautionary Note Regarding Forward-Looking Statements: This news release includes statements containing forward-looking information regarding World Class and Quadron and their respective businesses. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, and include statements in this press release concerning the expected timing by which Quadron will be de-listed from the CSE, and our expectations of the benefits associated with combination of World Class and Quadron. Such statements are based on the current expectations of the management of World Class and Quadron. Such forward-looking events and circumstances may not occur when anticipated or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting World Class or Quadron, including risks regarding the cannabis industry, economic factors, the equity markets generally, risks associated with growth and competition and those risk factors referred to in the management information circular of Quadron prepared in connection with the Meeting. Although World Class and Quadron have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in this news release, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information cannot be guaranteed. Except as required by applicable securities laws, statements in this news release containing forward-looking information speak only as of the date on which they are made and World Class and Quadron undertake no obligation to publicly 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.

 

Contact Information

World Class Extractions Inc.
Rosy Mondin
Chief Executive Officer


Investor Relations Contact
Christina Rao,
VP, Investor Relations
(604) 723-7480
Posted in featured_news | Tagged , , , , , , | Leave a comment

FSD Pharma Adds Biotech/LifeSciences Industry veteran James A. Datin and Robert J. Ciaruffoli, Former Chairman & CEO of Parente Beard/Baker Tilly to Board of Directors

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), today announced the appointment of James A. Datin and Robert J. Ciaruffoli, CPA to the Company’s Board of Directors.

“It is an honor to welcome Jim Datin and Bob Ciaruffoli to the FSD Pharma Board of Directors,” said Dr. Raza Bokhari, Executive Co-Chairman and CEO. “The experience and expertise they both bring as c-level entrepreneurial executives, leaders and board members of impressive organizations will add tremendous value to FSD. Both gentlemen have been instrumental in achieving outstanding growth for their respective companies, in raising capital to fuel growth opportunities and in driving sustainable shareholder value.”

“I’m pleased to be joining the FSD Pharma Board of Directors,” said Mr. Datin. “The opportunity to contribute at this stage in FSD’s growth is exciting. As a biotech life sciences executive with extensive experience as a member of more than 30 Board of Directors of PE backed and public companies, I am looking forward to helping the leadership and Biosciences Division in realizing FSD’s vision to meaningfully advance into the biopharmaceutical industry.”

“I am very happy to join the board of Directors. The cannabinoid ecosystem is evolving at a very rapid pace and FSD’s leadership focus to incorporate good governance and independence at FSD Board level is very impressive; my lifetime experience as an auditor and accountant I believe is a timely addition” added Mr. Ciaruffoli.

Over the course of his 30+ year career, James A. Datin has been a successful CEO, raised capital for entrepreneurs to grow companies, and has managed companies throughout the United States, Europe and Asia. He has also completed more than 50 transactions including venture investments, buyouts, acquisitions, mergers, IPOs, licensing and partnership agreements.

Mr. Datin is the current President & Chief Executive Officer of BioAgilytix, a leading global bioanalytical contract research organization (CRO) that supports the development of novel therapeutic biologics. Since he became CEO, BioAgilytix has grown its customer base and significantly increased its facility footprint and capacity, including expansion to Europe with the acquisition of Hamburg-based laboratory IPM Biotech. With his leadership, the company has been named to the Inc. 5000 list of Fastest Growing Private Companies in America six times, was named CRO of the Year in North Carolina, and has achieved industry-leading customer satisfaction as measured by an independent marketing firm. BioAgilytix was recently acquired by Cobepa, a PE fund.

Mr. Datin was previously EVP and Managing Director at Safeguard Scientifics, Inc., where he led the Deal/investment team. He was also CEO of Touchpoint Solutions and is a former board member of Intralinks, where he chaired the audit committee. The company was acquired by TA & Associates. Jim was also Chairman of the Board for five years at Clarient, a cancer diagnostics company, when it was acquired by GE Healthcare in December 2010. In addition, Jim was Chairman of the Board of Laureate Pharma.

Mr. Datin holds an Advanced Management Degree from the Wharton School at The University of Pennsylvania, a Master of Business Administration Degree from the University of New Haven and a Bachelor of Business Administration Degree from Marshall University.

Robert J. Ciaruffoli is a co-founder and vice-chairman of Broad Street Angels, a 100 member Philadelphia based angel investor network which invests in start-up entrepreneurial businesses with high growth potential. Broad Street Angels is the largest angel investor network in the Philadelphia region.

Mr. Ciaruffoli is a CPA and served as the chairman and CEO of the Parente Beard/Baker Tilly accounting and advisory firm. During his tenure as chairman and CEO, he and his team transitioned the firm from a Pennsylvania practice to a multi-state super-regional firm. In 2014, he orchestrated a merger of the Parente Beard and Baker Tilly Virchow Krause firms to create the 12th largest US accounting and advisory firm.

Mr. Ciaruffoli also served on the board of directors and executive committee of Baker Tilly International, the eighth largest global accounting network. During his tenure on the board and the executive committee, Baker Tilly International grew from an unranked network to the eighth largest global accounting network.

Throughout his career, Mr. Ciaruffoli has served on numerous for-profit and not-for-profit boards. Presently, he is the President of the board of directors of The Pennsylvania Society, a board member of Ben Franklin Technology Partners, a board member of eureQa – a SaaS cloud based automated platform for testing digital applications, and a member of the finance committee of the Archdiocese of Philadelphia. He was also the past chairman of the Pennsylvania State Board of Accountancy.

Mr. Ciaruffoli holds a Bachelor of Science in Accounting from Kings College, Wilkes-Barre, Pennsylvania and has proudly served in the United States Marine Corps (1970 – 1972).

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 that is licensed at its Ontario facility and expansion is currently underway.

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 by 2025.

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 Sale for Medical Purposes license on April 18, 2019. 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. For additional information on the company, please visit our website at www.fsdpharma.com.

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 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.

SOURCE FSD Pharma Inc.

For further information: Investor Relations Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations, Ned Berkowitz, Email: Ned.Berkowitz@russopartnersllc.com, Tel: (646) 942-5629; Zeeshan Saeed, President and Founder, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884

Posted in featured_news | Tagged , , , , , , | Leave a comment

World Class and Quadron Announce Approval of Quadron Shareholders to Plan of Arrangement

World Class Extractions Inc. (CSE: PUMP) (“World Class“) and Quadron Cannatech Corporation (“Quadron“) (CSE: QCC) are pleased to announce that, at the special meeting of the shareholders of Quadron held on June 7, 2019 (the “Meeting“), the shareholders of Quadron voted in favour of a special resolution to approve the proposed transaction, pursuant to which, among other things, World Class will acquire all of the issued and outstanding shares of Quadron, by way of a court-approved plan of arrangement (the “Arrangement“) as previously announced on April 16, 2019.

The Arrangement required approval by (i) at least two-thirds of the votes cast by holders (“Quadron Shareholders“) of common shares in the capital of Quadron (“Quadron Shares“) present in person or by proxy at the Meeting, and (ii) a majority of the votes cast excluding the votes of Quadron Shares held or controlled by “interested parties” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. At the Meeting, the Arrangement was approved by (i) 99.97% of the votes cast by all of the Quadron Shareholders eligible to vote at the Meeting, and (ii) 99.96% of the votes cast by all of the Quadron Shareholders eligible to vote at the Meeting excluding votes of Quadron Shares held or controlled by interested parties. Approximately 37% of the total issued and outstandring Quadron Shares were voted in person or proxy at the Meeting.

It is expected that Quadron will apply for a final order of the Supreme Court of British Columbia in respect of the Arrangement on June 11, 2019. Completion of the Arrangement remains subject to customary closing conditions, which are set out in the Arrangement Agreement, a copy of which can be found on the SEDAR profiles of World Class and Quadron at www.sedar.com. Assuming that the conditions to closing of the Arrangement are satisfied or waived, it is expected that the Arrangement will be completed on or before June 17, 2019. Further information about the Arrangement is set forth in the materials prepared by Quadron in respect of the Meeting, which were mailed to Quadron Shareholders and filed under Quadron’s profile on SEDAR at www.sedar.com.

World Class Options

World Class is also pleased to announce the grant of 300,000 incentive stock options to a business consultant. The stock options entitle the holder thereof to acquire one common share of World Class at a price of $0.17 per share for a period of two years.

About World Class

World Class is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. The Company intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.

For more information, visit: www.wcextractions.com.

On behalf of the Board of Directors of
WORLD CLASS EXTRACTIONS INC.

Michael McCombie
Chief Executive Officer
mike@wcextractions.com

About Quadron

Quadron, through its wholly owned subsidiaries, provides turn-key extraction and processing solutions for the cannabis industry including proprietary industrial grade equipment, custom build processing facilities, ancillary products, and scientific services. Quadron delivers streamlined, costeffective and innovative solutions to help licensed growers, producers and processors develop market ready products all to achieve quicker ROI.

For more information, visit: www.quadroncannatech.com.

On behalf of the Board of Directors of
QUADRON CANNATECH CORPORATION

Rosy Mondin
Chief Executive Officer
rosy@quadroncannatech.com

Investor Relations Contact:

KIN Communications Inc.
Caleb Jeffries, VP, Investor Relations
1-866-684-6730
QCC@kincommunications.com

Neither 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.

Cautionary Note Regarding Forward-Looking Statements: Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward looking statements in this news release include, but are not limited to, statements with respect to the timing for the completion of the Arrangement and the satisfaction of closing conditions. There can be no assurance that the Arrangement will be completed. Forward looking statements are based on certain assumptions. While Quadron and World Class consider these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45457

info

Posted in featured_news | Tagged , , , , , | Leave a comment

FSD Pharma Adds Two More Prominent Cannabis Researchers to Scientific Advisory Board

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), is pleased to announce the addition of two distinguished cannabis researchers to the company’s Scientific Advisory Board (“SAB”).

“It is with great pride that we welcome Dr. Ziva Cooper and Dr. Mallory Loflin to our Scientific Advisory Board. The board, which also includes Dr. Daniel Piomelli and Dr. Ryan Vandrey, is shaping into a very robust body of scientists and researchers under the leadership of my good friend Dr. Pollack and I commend him for his leadership. We are counting on the invaluable input of our SAB members as we continue to explore the value add of potential applications of medicinal grade cannabis and synthetic cannabinoid pharmaceuticals,” said Dr. Raza Bokhari, FSD Executive Co-Chairman & Chief Executive Officer.

Ziva Cooper, Ph.D., is the Research Director of UCLA’s Cannabis Research Initiative in the Semel Institute for Neuroscience and Human Behavior in the Department of Psychiatry and Biobehavioral Sciences. Dr. Cooper has been overseeing and publishing studies investigating cannabis neurobiology and dependence for over 10 years, including studies examining the effects of these drugs on experimentally induced pain. After receiving her Ph.D. in Biopsychology in 2007 in the field of preclinical psychopharmacology, she moved to Columbia University to focus on translating preclinical studies of psychoactive substances to the clinic using controlled human drug-administration studies. Dr. Cooper’s current research involves understanding the neurobiological, pharmacological, and behavioral variables that influence both the therapeutic potential and adverse effects of cannabis and cannabinoids. She previously served on the National Academies of Sciences Committee on the Health Effects of Cannabis that recently published a comprehensive consensus report of the health effects of cannabis and cannabinoids. Dr. Cooper is a member of the Editorial Board of Cannabis and Cannabinoid Research.

Mallory Loflin, PhD, is a research scientist for Veterans Affairs San Diego Healthcare System (VASDHCS) and an Assistant Professor of Psychiatry within the University of California, San Diego (UCSD) School of Medicine. Dr. Loflin’s entire research career has been dedicated to the study of cannabinoids, with the aim of informing both prevention efforts for problematic use and development of cannabinoid-based therapeutics. She is currently conducting as Principal Investigator (PI) the first VA-funded cannabinoid clinical trial, “Cannabidiol as an Adjunctive to Prolonged Exposure for the Treatment of PTSD,” as part of a Career Development Award (CDA-2) funded by VA Clinical Science Research & Development (CSR&D). Dr. Loflin is also a co-investigator and consultant on four other ongoing cannabis and cannabinoid research studies, and currently holds a DEA research registration for schedule 1 controlled substances at VA San Diego. She is currently engaged in training efforts for advanced specialization in private-public drug development as part of her CDA-2 award’s training plan.

The SAB is led by Chairman Charles V. Pollack, Jr., M.A., M.D., FACEP, FAAEM, FAHA, FACC, FESC, FCPP, an international leader in emergency medicine and founder of The Lambert Center for the Study of Medicinal Cannabis and Hemp at Thomas Jefferson University.

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 that is licensed at its Ontario facility and expansion is currently underway.

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 by 2025.

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 Sale for Medical Purposes license on April 18, 2019. 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. For additional information on the company, please visit our website at www.fsdpharma.com.

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 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.

SOURCE FSD Pharma Inc.

For further information: Zeeshan Saeed, President and Founder, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884; Investor Relations: Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations: Ned Berkowitz, Email: Ned.Berkowitz@russopartnersllc.com, Tel: (646) 942-5629

Posted in featured_news | Tagged , , , , , | Leave a comment

Dr. Raza Bokhari, FSD Pharma Executive Co-Chairman and CEO to Participate in Biotech-Focused Panel at the 2019 BIO International Convention

FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), announced today that Executive Co-Chairman and Chief Executive Officer, Dr. Raza Bokhari, will be featured in the 2019 BIO International Convention’s panel presentation, “Building a Winning Team for Biotech Business Success – Lessons You Can Learn from Industry Veterans and Former NFL Player Turned Broadcaster Solomon Wilcots,” on June 4 in Philadelphia, PA.

Moderated by Mr. Wilcots, the panel will feature an interactive discussion on how industry leaders in biotech create a culture committed to winning and why these approaches are applicable to fast-growing, emerging biotech companies today. Joining Dr. Bokhari will be Mei Mei Hu, CEO of United Neuroscience; Bill Newell, CEO of Sutro BioPharma; and Gil Van Bokkelen, Chairman and CEO of Athersys.

Details of the panel are as follows:

Panel:

Building a Winning Team for Biotech Business Success – Lessons You Can Learn from Industry Veterans and Former NFL Player Turned Broadcaster Solomon Wilcots

Date:

Tuesday, Jun 4, 2019

Time:

3:15 p.m. ET

Location:

107AB, Level 100, Pennsylvania Convention Center, Philadelphia, PA

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 that is licensed at its Ontario facility and expansion is currently underway.

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 by 2025.

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 Sale for Medical Purposes license on April 18, 2019. 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. For additional information on the company, please visit our website at www.fsdpharma.com.

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 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.

SOURCE FSD Pharma Inc.

For further information: Investor Relations, Email: IR@fsdpharma.com, Website: www.fsdpharma.com; Media Relations, Ned Berkowitz, Email: Ned.Berkowitz@russopartnersllc.com, Tel: (646) 942-5629; Zeeshan Saeed, President and Founder, FSD Pharma Inc., Email: zeeshan@fsdpharma.com, Telephone: (416) 854-8884

Organization Profile

Posted in featured_news | Tagged , , , , , | Leave a comment