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.
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.
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”).
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”).
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.
The Board of Directors of FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), unanimously voted Raza Bokhari, M.D., Executive Co-Chairman of the Board, as permanent Chief Executive Officer. Dr. Bokhari has served as interim CEO of the Company since February.
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”) would like to congratulate High Tide Inc. (CSE: HITI) (OTCQB: HITIF) (FRA: 2LY) (“High Tide”) on the recent announcement from Alberta Gaming, Liquor and Cannabis lifting the moratorium on issuing cannabis licenses and accepting license applications. The announcement is an encouraging sign of steadily improving cannabis supply levels in Alberta and is a positive step for companies like High Tide that have numerous stores ready and waiting to retail cannabis products.
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD” or the “Company”), today announced the appointment of pharmaceutical industry leader, Edward J. Brennan, Jr., M.D., FACS, as President of its biosciences division. Dr. Brennan has more than 25 years’ experience in leadership roles at major pharmaceutical companies and clinical research organizations.
World Class Extractions Inc. (“World Class”) (CSE: PUMP) (FRA:WCF) is pleased to announce that its acquisition target Quadron Cannatech Corporation (the “Company” or “Quadron”) (CSE: QCC), will begin to take reservations to toll process hemp or cannabis with the “BIG BEAST”, a fully automated, touch screen control continuous flow Ethanol Extractor System. The “BIG BEAST is the latest addition to the BEAST family of extractors, with estimated processing capacity of up to 20,000 kg of biomass per day – over 5,000,000 kg of biomass annually.