Category Archives: Editors Choice

FSD Pharma Signs Binding LOI to Acquire Therapix Biosciences, a NASDAQ Traded Pharmaceutical Company Focusing on the Development of Cannabinoid-Based Treatments, to Create Medical Cannabis Industry Innovator

• Transaction combines two highly complementary businesses; the significant production and distribution of medical and recreational products by FSD Pharma, and the premium and differentiated medical and pharmaceutical brands by Therapix Biosciences;
• Brings together highly competent scientific and business leadership teams to execute upon a shared vision to deliver proprietary cannabinoid platform technologies to both professional and retail markets globally;
• Transaction strategic part of FSD Pharma’s interest to pursue access to international capital markets to attract high-quality, high-profile financial and strategic investors to participate in accelerating company growth plans and establishing a strong position in cannabinoid research space;
• Transaction focuses on Therapix proprietary IP and related technology and assets pertaining to all clinical stage pharmaceutical assets applications;
• Therapix Biosciences shareholders to receive $48 million USD of FSD Pharma stock;
• The Transaction is subject to the shareholder approval of both parties and further subject to additional pre-conditions required to be met prior to closing the Transaction no later than three months following the execution of a definitive agreement.

TORONTO – October 22, 2018 – FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today the signing of a binding letter of intent (the “LOI”) to acquire Therapix Biosciences Ltd. (“Therapix Biosciences” or “Therapix”) (NASDAQ: TRPX) effective October 22, 2018. The Transaction (the “Transaction”) combines two highly-complementary businesses and creates a medical cannabis industry innovator focused on the research and development of advanced cannabinoid treatments.

Therapix Biosciences shareholders will receive $48 million (USD) of FSD stock upon closing of the Transaction. The Transaction is structured at a fixed price of $48M USD ($62.4M CAD), representing approximately 130 million class B subordinate shares of FSD Pharma and nearly 10% of the Company today. The final number of class B subordinated shares and percentage ownership of the Company will fluctuate based on the 20 day average of the FSD Pharma stock closing price on the date the Transaction is finalized. The Transaction is arms’ length and no finders fees have been paid. It is anticipated that the common shares of the Company will continue to be listed on the Canadian Securities Exchange (CSE) and the Frankfurt Stock Exchange (FRA), and the Company intends to apply to list on NASDAQ, subject to regulatory approvals.

The terms of the LOI will be superseded by a definitive agreement, which FSD Pharma and Therapix intend to execute within 30 days.

“The intended acquisition of Therapix Biosciences at this time is a pivotal step in the evolution of our company by entering the high-value medical cannabis market. In addition to growing products for the direct to consumer retail cannabis market in Canada, we are now developing a new class of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia, irritable bowel syndrome and several other disease areas. With this acquisition, FSD Pharma is signaling our commitment to furthering very high-value pharmaceutical R&D clinical programs centered on cannabinoid molecules, a number of which are actively under way at several distinguished medical institutions across the globe, including among others, the Therapix’ investigator-initiated Phase IIa study at Yale University Medical Center in the U.S. for Tourette syndrome Program, the preparations for commencing anticipated subsequent Phase IIb studies at the Hannover and Munich University Medical Schools in Germany for Tourette syndrome program, and collaboration with Assuta Medical Centers in Israel to develop therapeutic products in the field of sleeping disorders. Our strategy also involves pursuing access to the international capital markets to attract high-quality, high-profile financial and strategic investors in this space who can participate in and assist with accelerating our growth plans and establishing a strong position in this area”, said Dr. Raza Bokhari, Director of FSD Pharma and Chairman of the M&A committee.

Ascher Shmulewitz, MD PhD, Chairman and interim CEO of Therapix, stated, “Our research at Therapix is focused on a multifaceted, clinical drug development program that is poised to potentially yield novel, breakthrough therapeutic discoveries to benefit mankind and medicine in ways we have never before seen. We are excited to join FSD Pharma to be part of one of the fastest growing, most forward-thinking companies in this sector. Our combined resources and highly competent scientific and business leadership teams, position the combined entity well to execute upon our shared vision to deliver proprietary cannabinoid platform technologies to both the professional and retail markets globally. Our proprietary technologies and active, mature clinical research programs are focused on delivering safer, more effective cannabinoid-based products that address a broad spectrum of large-market diseases with high unmet clinical needs.”

Professor Raphael Mechoulam, the ‘Godfather of Medicinal Cannabis’, who co-discovered “the entourage effect” of the endocannabinoid system, and is Chairman of the Therapix Scientific Advisory Board, commented, “I hope this proposed transaction will help unlock the full potential of the endocannabinoid system within the human body in enhancing quality of life and improving treatment outcomes.”

“We are very pleased to announce our intention to acquire Therapix Biosciences. Their concerted efforts to advance the scientific work of Professor Rafael Mechoulam speaks for itself. It is a huge step forward in realizing our vision and mission to become a leading global player in Cannabinoid based pharmaceuticals, medicinal Marijuana in addition to the recreational use of Cannabis” said Anthony Durkacz and Zeeshan Saeed, Co-founders and Directors of FSD Pharma.

The Transaction is subject to a number of customary conditions, including, but not limited to, the negotiation and execution of relevant transaction documents, regulatory approvals, completion of satisfactory due diligence by FSD Pharma and Therapix, and approval of the Transaction by the shareholders of Therapix. Subject to the satisfaction of these conditions and other conditions precedent, the Transaction is anticipated to be completed by Q1 2019.

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. FSD Pharma, through its wholly-owned subsidiary, FV Pharma Inc., has applied for a Pre-Sales License Inspection from Health Canada, which is the last step prior to the issuance of a Sales License under the ACMPR.

About FSD Pharma (CSE: HUGE) (OTCQB: 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.

About Therapix Biosciences Ltd.

Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of Senior Executives and Scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on repurposing an FDA-approved cannabinoid: THX-110 for the treatment of CNS disorders, THX-120 for the treatment of sleep disorders and the treatment of pain; THX-130 for the treatment of Mild Cognitive Impairment (MCI) and Traumatic Brain Injury (TBI); and THX-150 for the treatment of infectious diseases. Please visit our website for more information at www.Therapixbio.com.

Forward-Looking Information

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.

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. This release contains forward-looking information relating to the acquisition of Therapix, including the execution of a definitive agreement and the completion of the proposed Transaction on the terms or within the timeframe contemplated herein, or at all, the proposed listing of the FSD Shares on the NASDAQ, the development of the Corporation’s indoor cannabis facility, the commencement of operations at the expanded facility, the Corporation’s ability to obtain a Sales License from Health Canada and other general business goals and objectives. The forward-looking information contained in this press release is made as of today, 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.

FSD Pharma Featured on CTV Toronto

TORONTO, Oct. 17, 2018 /CNW/ – FSD Pharma Inc. (“FSD” or the “Company”) (CSE: HUGE) is pleased to provide shareholders and interested parties with a link to the CTV Toronto program segment featuring interviews with executives and employees at the Company’s facility in Cobourg. In the segment, CEO and President Thomas Fairfull, Director Anthony Durkacz, and EVP and Director Zeeshan Saeed discuss job creation and the Company.

Interested shareholders and parties please visit: https://toronto.ctvnews.ca/video?clipId=1515888


Continue Reading

FSD Pharma and SciCann Therapeutics to Attend the CannX International Medical Cannabis Convention in Tel Aviv Israel

Toronto – October 14, 2018 – FSD Pharma Inc. (“FSD Pharma”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) is pleased to announce that its Head of Scientific Advisory Board, Dr. Zohar Koren, will attend the 3rd International Medical Cannabis Conference, (“CannX”) in Tel Aviv, Israel from October 14 to 16, 2018.

The CannX convention is a central annual meeting point of global leaders in all areas related to medical cannabis and cannabinoid medicine. The convention will feature the latest scientific developments in this rapidly evolving field, including cultivation, extraction and manufacturing cutting-edge technologies and clinical research breakthroughs. The convention will also showcase Key Opinion Leaders that are physicians and researchers including Professor Rafael Mechoulam, the Israeli scientist who was the first to discover the human endocannabinoid system. Continue Reading

FSD Pharma Congratulates High Tide Inc. for Closing Oversubscribed Private Placement and Announces $2 Million Lead Order

TORONTO, Oct. 10, 2018 /CNW/ – FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: OK9) (“FSD Pharma” or the “Company”) would like to congratulate High Tide Inc. (“High Tide”) on closing the second tranche of its brokered private placement (the “Offering”), for gross proceeds of approximately $18.3 million. The Offering, which was initially a $10 million financing, was upsized by over 83% due to strong demand from over 135 participating investors.

In line with its strategic direction, FSD Pharma has placed a lead order of $2 million in the Offering, for 1,449,276 special warrants of High Tide. This is the second time that the Company has provided a lead order in funding High Tide. FSD Pharma’s strategic investments and partnerships across the burgeoning Canadian cannabis industry continue to pave the way for the Company to achieve milestones in Canada and internationally. FSD Pharma will remain a strong support to High Tide as both companies continue to grow, and will continue to work collaboratively with High Tide as a supplier of cannabis products and accessories across Canada.

“In addition to High Tide currently being in various stages of securing dozens of retail locations for Cannabis sales in Alberta, British Columbia and Saskatchewan, with the change in recreational cannabis distribution policy by the new Ontario provincial government, we believe it offers a number of new exciting retail opportunities in Canada’s biggest province and we see further value in our partner High Tide,” stated Zeeshan Saeed, EVP and Director of FSD Pharma.

For more information on FSD Pharma: http://fsdpharma.com

About FSD Pharma

FSD Pharma owns, through its wholly-owned subsidiary FV Pharma Inc., a license to produce marijuana under the Access to Cannabis for Medical Purposes Regulations (ACMPR), which was originally granted on October 13, 2017. Headquartered at the former Kraft plant in Cobourg, Ontario, approximately an hour’s drive from Toronto, FSD Pharma’s management’s mission is to transform the facility into the largest hydroponic indoor cannabis facility in the world. FSD Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts and research and development.

About High Tide

High Tide is a privately-held, Alberta-based, retail-focused cannabis corporation. It is among the most vertically-integrated companies in the Canadian cannabis market, with portfolio subsidiaries including RGR Canada Inc., Smoker’s Corner Ltd., Famous Brandz Inc., Canna Cabana Inc. and the majority of KushBar Inc. High Tide’s strategy as a parent company is to extend and strengthen its retail-focused integrated value chain, while providing a complete customer experience and maximizing shareholder value.

For more information about High Tide Inc., visit www.hightideinc.ca

Forward-Looking Information

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.

FSD Pharma Begins Construction of Heritage Museum and Flagship Dispensary in Ontario

Cobourg, Ontario – October 9, 2018/CNW/ – FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) is pleased to announce that construction has commenced of its heritage museum and flagship dispensary at the former Kraft plant in Cobourg, Ontario, headquarters of its wholly-owned subsidiary FV Pharma Inc. (“FV Pharma”). Local politicians and media will be in attendance at the ribbon-cutting ceremony on October 9, 2018 at 11:30 EST in Cobourg at the Head office located at 520 William Street. Honoured invited guests include Cobourg Mayor Gil Brocanier who will be in attendance and the Hon. Kim Rudd, MP for Northumberland and Peterborough South who is expected to attend. All national media are welcome with media credentials.

Thomas Fairfull, President and CEO of FSD Pharma stated, “We welcome politicians and media to this momentous event where we begin converting the historic Certo building located at the former Kraft plant into a heritage museum and on-site dispensary. The Certo building is an important part of Cobourg’s history and the Company intends to preserve this unique building.” Continue Reading

FSD Pharma welcomes legislation to allow private retail of cannabis in Ontario

TORONTO, Sept. 27, 2018 /CNW/ – FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company), which, through its wholly-owned subsidiary FV Pharma Inc. (“FV Pharma”), is a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations, today congratulates the Ontario government for introducing legislation that would open up recreational cannabis retail to the private sector. FSD Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts, research and development.

“We are excited that the Ontario government has decided to open up the retail market for recreational cannabis to the private sector and recognize this as a great opportunity for the growth of our sector,” said Thomas Fairfull, President and CEO of FSD Pharma. Continue Reading

FSD Pharma Added to Leading Cannabis ETF with Significant 1.9% Weighting

TORONTO, September 27, 2018 /CNW/ – FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) is pleased to announce that Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) has added the Company to the Horizons Marijuana Life Sciences Index ETF (“HMMJ:TSX”) as part of the quarterly rebalance of the constituent holdings of HMMJ. The Company stock has a 1.9% weighting in HMMJ. According to Horizons ETFs, “As at September 5, 2018, HMMJ had reached over CAD $1 billion in assets under management – a rare achievement for the Canadian ETF marketplace”.[1]

“We are thrilled to be included in HMMJ, which is the largest ETF offering direct exposure for investors to North American life sciences companies that have significant business activities in the marijuana industry. FSD Pharma expects to continue to deliver on its current business strategy and expansion plan in preparation for adult-use legalization on October 17, 2018,” said Anthony Durkacz, Director of FSD Pharma.

[1] http://www.newswire.ca/en/releases/archive/September2018/26/c3045.html

About FSD Pharma (CSE: HUGE) (OTCQB: 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.

Forward-Looking Information

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.

FSD Pharma Receives First Delivery of Canntab Equipment with a Capacity to Manufacture Approx. 1,500,000 Tablets Per Day

TORONTO, Sept. 25, 2018 /CNW/ – FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company), which, through its wholly-owned subsidiary FV Pharma Inc., is a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations, is pleased to announce that the Company has received its first delivery of manufacturing equipment at its Cobourg plant from Canntab Therapeutics Limited (CSE:PILL) (“Canntab”), a leader in the rapidly growing cannabis pill market. The manufacturing equipment consists of a fully GMP High output Tablet press capable of pressing more than 1,500,000 tablets per day, as well as blending machinery, large scale process and drying equipment and packaging equipment.

Mr. Jeffrey Renwick, Chief Executive Officer of Canntab, stated, “With this first delivery of manufacturing equipment at the Cobourg plant, we can begin the process of setting up our manufacturing space in collaboration with FSD Pharma. We expect manufacturing of our suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets to begin in earnest.”

Zeeshan Saeed, EVP and Director of FSD Pharma, added, “We are thrilled that Canntab is moving so quickly to set up its manufacturing facility at our Company. We too are moving quickly to build out our own 220,000 square feet of additional manufacturing capacity in Cobourg in collaboration with Auxly. This is truly an exciting time at FSD Pharma.”

FSD Pharma and Canntab previously announced the signing of a definitive collaboration and profit sharing agreement (the “Agreement”) effective September 17, 2018. Under the terms of the Agreement, FSD Pharma will assist Canntab to obtain a license to process and sell cannabis products pursuant to the Cannabis Act (the “License”), and will provide Canntab with space at its facility (the “FSD Facility”), which is located just one hour east of Toronto in Cobourg, Ontario (the “Transaction”).

FSD Pharma will provide Canntab with up to 10,000 square feet of space at the FSD Facility (the “Canntab Premises”). Canntab will build and install, at its expense, its own manufacturing facility within the larger FSD Facility that will operate in accordance with Good Manufacturing Practices, at which it will produce a suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets, and other types of cannabis-based products, including sleep aids and pain relievers (the “Canntab Products”).

FSD Pharma and Canntab see tremendous opportunity in offering pharmaceutical quality cannabis based tablets, as many doctors are adverse to prescribing smoked cannabis as a solution to patients’ health concerns. The Canntab Premises are intended to be used to supply Canadian and International markets such as Australia and Germany, which legally allow cannabis. FSD Pharma will work with Canntab to prepare the necessary items to submit an application from Canntab to Health Canada to obtain the License, which will be attached to the Canntab Premises. In particular, FSD Pharma will assist with the following aspects of the application:

a) drafting, or coordinating the drafting of, all application materials;
b) sourcing all necessary third-party consultants required to prepare the application; and
c) communicating with Health Canada throughout the application process.

In consideration of FSD Pharma’s services, Canntab will grant FSD Pharma certain royalty and profit sharing rights in connection with the sale of the Canntab Products. Canntab will provide FSD Pharma with 50% of the profits that Canntab receives on any retail sales of Canntab Products through channels that are established by FSD Pharma and FSD Pharma will be entitled to retain 50% of the profits on FSD Pharma’s sales of the Canntab Products. In addition, Canntab will pay FSD Pharma a royalty of 3.5% of Canntab’s sale price for all Canntab Products that are manufactured and sold from the Canntab Premises. Canntab may also purchase the oil that it requires for the Canntab Products from FSD Pharma.

About FSD Pharma

FSD Pharma, owns, through its wholly-owned subsidiary FV Pharma Inc., a license to produce marijuana under the Access to Cannabis for Medical Purposes Regulations (ACMPR) which was originally granted on October 13, 2017. Headquartered at the former Kraft plant in Cobourg, Ontario, approximately an hour’s drive from Toronto, FSD Pharma’s management’s mission is to transform the facility into the largest hydroponic indoor cannabis facility in the world. FSD Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts and research and development. Please visit www.fsdpharma.com for more information.

About Canntab

Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab’s mission is to put the “Medical” into medicinal cannabis!

Forward-Looking Information

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.

Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.

FSD Pharma and Scicann Therapeutics Launch Cardiovascular Research Program in Tel Aviv University

Toronto – September 23, 2018/CNW/ – FSD Pharma Inc. (“FSD Pharma” or “FSD”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) is pleased to announce the launch of a comprehensive sponsored research program in Tel Aviv University together with its strategic R&D partner, SciCann Therapeutics Inc. (“SciCann”), focused on the cardiovascular disease field. The new research program is aimed at the development of novel and proprietary cannabinoid-based treatments for the prevention and treatment of atherosclerosis, the underlying factor for most cases of stroke and cardiac stenosis events in the western world.

Dr. Zohar Koren, Co-founder and CEO of SciCann stated, “The prevalence of Coronary Artery Disease (CAD) among adults in North America is estimated at 8% of the population and considered to be the number one killer disease in the western world. There is a high unmet need for novel, safe and natural therapies that will ameliorate the damage caused by atherosclerotic plaques to the arteries and cardiovascular system and we believe that smart and targeted modulation of the endocannabinoid system may offer a new approach to treat this devastating progressive disease. We are highly excited to launch this new research program in Tel Aviv University and use the sophisticated and advanced labs that it offers for the execution of this program.” Continue Reading

FSD Pharma inc. announces $7.5 Million Dollar at $1 per share investment as part of existing strategic alliance with Auxly Cannabis Group Inc.

TORONTO, September 20, 2018 /CNW/ – FSD Pharma Inc. (“FSD” or the “Company”) (CSE:HUGE) is pleased to announce that pursuant to the approved construction and development budget announced on July 3, 2018 (Link), Auxly Cannabis Group Inc. (TSX.V – XLY) (“Auxly”) has made an equity investment into the Company at $1.00 per Class B Subordinate Voting Share for total proceeds of $7.5 million. No fees were paid to brokers in connection with the transaction.

All of the securities issued in connection with the Offering are subject to a hold period expiring on January 20, 2019.

Proceeds of the financing will be deployed toward construction of the 220,000 square foot cultivation footprint that FSD and Auxly are jointly developing pursuant to their strategic alliance and streaming agreement previously announced on March 5, 2018 (the “Joint Cultivation Footprint”) (Link). The buildout of the Joint Cultivation Footprint is currently underway in Cobourg, Ontario and will include dedicated space for large scale extraction capabilities. Continue Reading