FSD Pharma Inc. announces acquisition to expand in Newfoundland for production and sales
•Strategic investment of $40 million to bring economic benefits to province of NewfoundlandFSD Pharma Inc. (“FSD” or the “Company”) (CSE:HUGE) (OTC: FSDDF) is pleased to announce a binding agreement to purchase 51% of Atlantic Island Cannabis Inc. (to be renamed FSD Atlantic Pharma Inc.) effective July 4, 2018. The agreement involves a strategic investment of $40 million to drive production and sales of legal cannabis in the province of Newfoundland. In the first phase of the project, an indoor high quality 45,000 square foot cannabis production facility will be set up in Freshwater, Carbonear, Newfoundland. This site is expected to bring about economic benefits for the province and to create 200 local, management and construction jobs through a phased expansion approach. Phase two of the project will involve a further expansion of the indoor grow facility to up to approximately 300,000 square feet for the production and processing of legal cannabis.