FSD Pharma Inc. (NASDAQ: HUGE) CSE;HUGE or the “Company”), today announced it has entered into definitive agreements with certain institutional investors for the purchase and sale of 1,500,000 shares of the Company’s Class B Subordinate Voting Shares (“Shares”) at a price of C$6.75 per Share pursuant to a private placement resulting in gross proceeds of approximately C$10.125 million. The Company has also agreed to issue common share purchase warrants to purchase 1,500,000 Shares of the Company. The warrants will have a five year-term and an exercise price of C$9.65 per share. The closing of the offering is expected to occur on or about June 8, 2020, subject to the satisfaction of customary closing conditions including applicable exchange approvals. The Company has granted the investors an option to acquire up to an additional C$10.125 million of units on the terms set forth above for a period of 30 days following the initial closing.
FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced that the U.S. Food and Drug Administration (FDA) has given the company permission to submit an Investigational New Drug Application (IND) for the use of FSD-201 (ultramicronized palmitoylethanolamide, or ultramicronized PEA) to treat COVID-19, the disease caused by the SARS-CoV-2 virus. Severe COVID-19 is characterized by an over-exuberant inflammatory response that may lead to a cytokine storm and ultimately death. FSD Pharma is focused on developing FSD-201 for its anti-inflammatory properties to avoid the cytokine storm associated with acute lung injury in hospitalized COVID-19 patients.
FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced the sale of its 12% equity interest in Cannara Biotech Inc. (CSE: LOVE) (“Cannara”) to a consortium of buyers for cash proceeds of more than $7.7 million (the “Share Sale Transaction”).
FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9) (“FSD Pharma” or the “Company”) announced that its Class B Subordinate Voting Shares (the “Shares”) will commence trading on the Nasdaq Capital Market under the symbol ‘HUGE’ today, January 9, 2020. The Company’s Class B Subordinate Voting Shares will continue to trade on the Canadian Securities Exchange under the symbol ‘HUGE’.
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) today announced that its Class B Subordinate Voting Shares (the “Shares”) have been approved for listing on the NASDAQ Capital Market (“NASDAQ”) under the symbol ‘HUGE’. Trading on the NASDAQ is expected to commence at market open on Thursday, January 9, 2020.
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company”) announces that Nasdaq has approved its application to have its Class B Subordinate Voting Shares (the “Shares”) listed on the Nasdaq Capital Market (“Nasdaq”). FSD Pharma expects the Shares to commence trading on Nasdaq in the near future.
World-Class Extractions Inc. (“World-Class”) (CSE:PUMP)(FRA:WCF) announces its first multi-year joint venture agreement (the “Joint Venture“) with FV Pharma Inc. (HUGE) (FSDDF) (0K9), a wholly-owned subsidiary of FSD Pharma Inc. (“FSD“). Under the direction of FV Pharma, World-Class will setup and manage the operations of “Cobra”, a large capacity extraction and processing facility in Cobourg, Ontario, owned by FSD Pharma (the “Facility“) to extract various cannabinoids and other valuable elements from cannabis and hemp plants.
World-Class Extractions Inc. (“World-Class”) (PUMP.CN)(FRA:WCF) announces that it has obtained additional provincial CRN pressure-vessel certification for its proprietary, automated, next-generation “BOSS” CO2 Extraction System. The BOSS is now officially certified in British Columbia, Alberta and Ontario.
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.