TORONTO – October 29, 2018 – The Board of Directors of FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) is pleased to announce the appointment of Dr. Raza Bokhari as interim CEO and Co-Chairman of the Board of Directors, replacing Thomas Fairfull.
Dr. Bokhari brings a wealth of knowledge in global business and healthcare services. He currently serves as the Chairman & CEO of PCL, a global diagnostic provider of addiction screening and opioid prescription medication monitoring, including designer drugs and synthetic cannabinoids. He is also the managing partner of RBx Capital, LP and Recipient of Philadelphia Business Journal’s “40 under 40” award. Physician turned entrepreneur, Dr. Bokhari has over the past several years developed outstanding expertise in aggregating and accelerating life sciences and healthcare services companies. He has a vast knowledge base of developing creative concepts, implementing programs and forming strategic alliances. Dr. Bokhari has a Doctor of Medicine degree from the University of Punjab, Rawalpindi Medical College, and an Executive MBA from Temple University, Fox School of Business & Management.
Thomas Fairfull will retain his role as President and Chief Executive Officer of FV Pharma Inc., the Company’s wholly-owned subsidiary and licensed producer under the Cannabis Act. “With the arrival of Dr. Raza Bokhari, FSD’s global vision has begun to take shape and I am pleased to relinquish my role as CEO and Chairman of the Board of FSD to allow the Company to reach the next level, while at the same time allowing me to focus on building the largest hydroponic indoor-grow facility in the world and obtaining our sales license from Health Canada. It has been an honour to lead the talented team of executives and board members of FSD Pharma and I now pass on the reigns to Dr. Raza to take the company further into the medicinal cannabis space and to help finalize our acquisition of Therapix Biosciences Ltd. over the coming few weeks and other important initiatives in the coming months.”
Additional Board Appointments
The Board of Directors is also pleased to announce the appointment of Zeeshan Saeed to the position of President of FSD Pharma Inc. and of Anthony Durkacz as Co-Chairman of the Board.
“As co-founders of FSD Pharma, both Zeeshan and Anthony have been critical to the success of the Company to date and I look forward to working more closely with them during this transformational time for the medicinal cannabis industry and for FSD Pharma shareholders as we look to strengthen our leadership team and FSD Pharma Board,” said Dr. Raza Bokhari. “I want to personally thank Thomas for his vision and dedication to the Company and I expect continued success for him and the team at our Cobourg facility,” continued Dr. Bokhari.
Zeeshan Saeed is a successful entrepreneur and a founding member of FV Pharma Inc. who was instrumental in the raising of the original seed capital. He also played an integral role in bringing together a team of professionals in the development of the corporation business plan as well as bringing key relationships to the Company. He has experience in international capital markets and has helped various startups with the process of raising initial funding and getting listed on various stock exchanges. Mr. Saeed is a Founder of FSD Pharma and was in the role of EVP prior to his promotion as President. He is an Engineer by trade. Mr. Saeed commented, “This is an opportunity for real growth at FSD Pharma. We are in the process of mobilizing the right resources, scientists, researchers, consultants and employees to achieve a unique position in the marketplace. Not only will we be able to supply the recreational cannabis market with unique and innovative brands, but we will be delivering leading-edge cannabinoid-based products to treat numerous ailments on an international level.”
Anthony Durkacz is currently a Director of FSD Pharma and a Director and Executive Vice President at First Republic Capital Corp. since January 2014. First Republic Capital Corp. acted as the exclusive agent of the Company and has raised approximately $53,000,000.00 of equity capital to date. Mr. Durkacz holds an Honours Bachelor of Business Administration from Brock University with a major in both Accounting and Finance. He has vast experience in financing, mergers and acquisitions and structuring companies to go public. “I am honoured to be working alongside Dr. Raza, Zeeshan, the Board and everyone at the Company to assist with the acquisition of Therapix Biosciences Ltd. and with the execution of the Company’s exciting new growth strategy in the medicinal cannabis space. I believe the world is on the verge of the most exciting frontier in medicine in history and FSD Pharma has the opportunity to be a leader. I also intend to continue to help build the Company’s international profile as well as its institutional and retail investment base and relentlessly build shareholder value,” stated Mr. Durkacz.
About FSD Pharma (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9)
FSD Pharma is focused on the development of the highest quality indoor grown pharmaceutical grade cannabis and on the research and development of cannabinoid therapies targeting a multitude of ailments. The Company is currently in phase 1 of its growth plans with 25,000 square feet of indoor grow space available at its Ontario facility and an additional 220,000 square feet in development with an expected completion date of January 2019. The facility sits on 72 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 square feet. Pending approval by Health Canada, the expanded 220,000 square feet of grow space is expected to be operational in the first quarter 2019.
FV Pharma, a wholly-owned subsidiary of FSD Pharma, is a licensed producer of cannabis having received its cultivation license under the Access to Cannabis for Medical Purposes Regulations (ACMPR) on October 13, 2017 and is now operating under the recently enacted Cannabis Act. 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.
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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.