Cannabis investors have had a series of rude shocks in the past few months. Right now, people still believe in the cannabis opportunity are much more selective in their investment choices. They want companies with real assets, cash on hand, a real business plan, proprietary intellectual property and a well-defined market.
World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF) (the “Company” or “World-Class“), a vertically integrated provider of advanced extraction and processing systems is pleased to announce the signing of a binding Letter of Intent (“LOI“) to establish a joint venture (the “Joint Venture“) with Canntab Therapeutics Limited (CSE:PILL.CN) (“Canntab“) to set-up, manage and operate a cannabis and hemp extraction and processing facility at Canntab’s manufacturing center in Markham, Ontario (the “Facility“).
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.
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.
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.
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.