Tag: Prismic Pharmaceuticals

FSD Pharma Inc. Announces C$10.125 Million Private Placement

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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. read more

FSD Pharma Begins Phase 1 In-human Safety and Tolerability Study of Ultra Micro-Palmitolylethanolamide (PEA)

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FSD Pharma Inc. (Nasdaq: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma” or the “Company”) today announced receipt of approval from the Ethics Committee of the Alfred Hospital, part of the Alfred Health group of hospitals serving the state of Victoria in Australia, to initiate a Phase 1, randomized, double-blind, placebo-controlled study to evaluate the safety, tolerability and pharmacokinetics of single and multiple ascending doses of ultra-micronized-PEA in normal healthy volunteers. read more

FSD Pharma and Solarvest Enhance Commitment to CBD Research Project

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FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma”) and Solarvest BioEnergy Inc. (TSX-V: SVS) (“Solarvest”) (collectively, the “Parties”), are pleased to announce that, further to their press release of May 7, 2019, the Parties have agreed to amendments to the Collaborative Research and Development Agreement (the “Research Agreement”) designed to accelerate progress of the research project that Solarvest is carrying out (the “CBD Research Project”). Under the amended Research Agreement, FSD Pharma has agreed to issue additional class B subordinate voting shares (“FSD Shares”) to Solarvest, which will enable Solarvest to fund the CBD Research Project. In addition, Solarvest has appointed Dr. Edward J. Brennan, Jr., M.D., FACS (“Dr. Brennan”), currently the President of FSD Pharma’s BioSciences Division, to the board of directors of Solarvest. read more

FSD Pharma Receives Approval to List its Shares on Nasdaq

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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. read more

FSD Pharma Closes Deal to Acquire Prismic Pharmaceuticals

SD acquires platform company to advance R&D of targeted application of micro-Palmitoylethanolamide impacting the human endocannabinoid system
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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. read more

FSD Pharma to Acquire Prismic Pharmaceuticals

This transaction positions FSD to help contribute to addressing the opioid crisis through use of synthetic cannabinoids
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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, announced today that they have entered into a securities exchange agreement dated April 22, 2019 (the “Agreement”) pursuant to which FSD Pharma has agreed to acquire all of the outstanding securities of Prismic (the “Transaction”). Prismic is developing novel non-addictive prescription drugs with unique safety profiles with the goal of addressing the opioid crisis based on formulations utilizing micro-palmitoylethanolamide’s (“PEA”) “entourage” effect on certain drugs impacting the endocannabinoid system. read more