TORONTO, Sept. 17, 2018 /CNW/ – FSD Pharma Inc. (“FSD” or the “Company”) (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9) today announced that it has joined the Cannabis Marketing Resource Center (“CMRC”) provided by Snipp Interactive Inc. (“Snipp”) (OTCQB: SNIPF; TSX-V: SPN), a global provider of digital marketing promotions, rebates and loyalty solutions. FSD has now joined some of the largest licensed producers in Canada that currently use the CMRC and the technology solutions provided by Snipp.
“As the Cannabis industry begins to scale, it becomes important to invest in best of breed software and technology solutions to enable companies like ours to sell our products across the ecosystem from seed to sale. We look forward to working with Snipp, a leader in supplier/customer activation and retention programs, to develop such programs and learn from their expertise in similar regulated industries like Pharmaceuticals, Alcohol & Tobacco”, said Anthony Durkacz, Director of FSD Pharma.
“We are very excited by the continued interest received in our CMRC. FSD is a great example of a forward looking company that intends to run a vertically integrated business that is already thinking through the finer points of their future business and operating model. With the successes they have already had, I am sure that our relationship is only just beginning today and will evolve along with their business needs,” said Atul Sabharwal, CEO of Snipp.
The goal of the CMRC is to help Cannabis companies hit the ground running by leveraging SNIPP’s deep expertise and the flexible technology platforms it has engineered for highly-regulated industries, which have unique requirements compared to other consumer-oriented segments. The CMRC resource center is designed to help cannabis-related companies launch sophisticated solutions that are also legally-compliant, a very important aspect for all firms in the cannabis space.
Stock Options Granted
Pursuant to its Stock Option Plan, the Board approved the grant of 2,000,000 stock options for class B subordinate voting shares of the Company (the “Options”) on September 14, 2018 to certain officers of the Company. The Options vest immediately and are exercisable at a price of $0.60 for a period of five years.
Stock Option Plan
The Company’s stock option plan was approved by the Board on February 19, 2018 (the “Stock Option Plan”). The Stock Option Plan provides that the aggregate number of securities reserved for issuance will be 10% of the number of common shares of the Corporation issued and outstanding from time to time.
The Stock Option Plan was established to provide incentive to qualified parties to increase their proprietary interest in the Corporation and thereby encourage their continuing association with the Corporation. Management proposes stock option grants to the Board based on such criteria as performance, previous grants, and hiring incentives. All grants require Board approval. The Stock Option Plan is administered by the Board and provides that options will be issued to directors, officers, employees or consultants of the Corporation or a subsidiary of the Corporation. The Board has full and final authority with respect to the granting of all options under the Stock Option Plan. A copy of the Stock Option Plan is available on the Company’s issuer profile on SEDAR at www.sedar.com.
About FSD Pharma (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9)
FSD Pharma through its wholly-owned subsidiary FV Pharma, is a licensed producer of marijuana under the Access to Cannabis for Medical Purposes Regulations (ACMPR) having received its cultivation license on October 13, 2017. Headquartered at the former Kraft plant in Cobourg, Ontario, approximately an hour’s drive from Toronto, FV Pharma management’s mission is to transform the facility into the largest hydroponic indoor cannabis facility in the world. FV Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts and research and development. For more information about FSD Pharma, please visit www.fsdpharma.com.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the Corporation’s indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking-information.
The foregoing statements expressly qualify any forward-looking information contained herein.