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”), 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.
The Canadian Cannabis market peaked – using the Canadian Marijuana Index – in early January of 2018. The Index topped 1000. It dropped a bit from there and, the Monday before legalization on Wednesday, October 17, touched 858. The index is now hovering around 500. Reality has caught up with the recreational marijuana business and the market caps of many of the producer stocks are adjusting downward to reflect that reality.
FSD Pharma Inc. (“FSD Pharma”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) today congratulated strategic partner Canntab Therapeutics Limited (“Canntab”) on the launch of a research partnership with leading orthopaedic surgeon Dr. Don Garbuz, M.D. Dr. Garbuz will be the lead investigator on a clinical research study at the University of British Columbia subject to the University’s approval that aims to show the potential for reduction or elimination of the use of opiates in orthopaedic patients using Canntab’s sustained release tablets. Canntab will create the tablets for the study in Cobourg, Ontario with FSD Pharma in furtherance of their collaboration and license agreement dated September 17, 2018.
- Partnership formed with Dr. Don Garbuz, an award winning orthopaedic surgeon and medical researcher, credited with over 120 peer reviewed publications.
- The parties will seek to conduct a clinical study with orthopaedic patients, using Canntab’s sustained release tablets.
- The study aims to show the potential for reduction or elimination of the use of opiates in patients, a major epidemic throughout North America.
- The study will also seek to show the efficacy of Canntab’s cannabis products for pain management and improvements in patient overall health outcomes.
Canntab Therapeutics Limited (CSE: PILL, FSE: TBF1) (“Canntab” or the “Company”), today announces the launch of a research partnership with world-renowned orthopaedic surgeon, Dr. Don Garbuz, M.D. (Head of the Division of Lower Limb Reconstruction and Oncology of the Department of Orthopaedics at the University of British Columbia), subject to approval of the University of British Columbia where the proposed clinical trial will take place. The aim of the study is to examine and quantify the efficacy of Canntab products in decreasing the duration and quantity of postoperative use of opioid medications and in the management of preoperative pain. Dr. Garbuz shall be the Lead Investigator for the research study.
Canntab Therapeutics Limited (CSE: PILL, FSE: TBF1) (“Canntab” or the “Company”) is a company with a clear vision of becoming the leader in solid oral dosage formulation of cannabis. Their unique products offer advantages to the medical community, patients, adult use consumers and governments. Canntab is pleased to provide this corporate update to its shareholders.
Canntab Therapeutics Limited (CSE: PILL) (“Canntab” or the “Company“) a leader in the development of precision oral dose cannabis tablets and capsules, is pleased to announce that it has filed an application to become a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (the “License“), and that it received confirmation from Health Canada that its application had been received. The License, if granted by Health Canada, would allow the Company to process cannabis products at its current production facility in Markham, Ontario with minimal additional capital expenditures as compared to a new purpose-built facility.