TORONTO – December 20, 2018 – FSD Pharma Inc. (“FSD Pharma” or “FSD”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) has completed a strategic investment of $1.3 million or just under 9.9% in Huge Shops, a Toronto-based cannabis retailer. Huge Shops has a strategic alliance with Chairman’s Brands, parent company of Coffee Time, a well-established operator of retail coffee shops with more than 75 locations in Canada and other locations worldwide.
As part of the investment, Huge Shops has the option to acquire a minimum of ten retail locations under Chairman’s umbrella of properties, and, subject to availability and further negotiation, purchase additional Coffee Time sites. Huge Shops has identified ten initial key locations across Ontario, which meet the company’s strategic objective to become a premiere recreational cannabis supplier. Under the province’s current model for recreational cannabis, Huge Shops will file expressions of interest with the Alcohol and Gaming Commission of Ontario (AGCO) in the five designated regions across Ontario in order to obtain one of the province’s first retail locations while strengthening its foothold in Canada’s largest market. Huge Shops stores will be branded and operated independently of Coffee Time shops, but the agreement provides access to the Coffee Time’s highly experienced retail management team and large commercial real estate portfolio.
FSD Pharma Executive Co-Chairman and Co-Founder, Anthony Durkacz, says, “Huge Shops’ strategic alliance with Chairman’s Brands enables the company the ability to quickly create a network, with a well-established consumer base, in key demographic areas throughout the province. FSD Pharma, through its investment in Huge Shops, will offer leading cannabis products to consumers in the province.”
As the province rolls out its private retail model, Huge Shops is planning rapid expansion in key markets throughout Ontario to meet its target of operating 75 locations pursuant to the company receiving its retail operator license.
Huge Shops President and Director, Michael Potts, says, “FSD’s investment and our partnership Chairman’s Brands will help us achieve our goal of rapidly reaching Ontario’s 14 million consumers (1), an estimated CAD $2.3 billion opportunity (2). The strategic alliance gives us an advantage by allowing us to avoid cumbersome leasing arrangements, a problem facing many competitors in our industry.”
Steve Michalopoulos, Vice President of Brand Development at Chairman’s Brands stated, “The legalization of cannabis in Canada presents tremendous opportunity for companies across a number of industries that have a retail footprint. We’ve been observing closely what’s been happening in the Cannabis space and what other brands have been doing within the coffee space. Aligning our coffee brand with Huge Shops presents opportunity to carefully evaluate our real estate network and potentially maximize the real estate to the benefit of all stakeholders. We were very careful to strategically align ourselves with a group that has the wherewithal and capability of building a sustainable long term business”.
The first retail shop is expected to open by April 1, 2019, pending receipt of a retail operator’s license.
Toronto, ON, December 17, 2018 − FSD Pharma Inc. (“FSD” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) would like to congratulate High Tide Inc. (“High Tide”) for its listing approval and commencement of trading on the Canadian Securities Exchange (“CSE”) today under the stock symbol “HITI”.FSD has been a founding shareholder of High Tide since participating in its non-brokered private placement that closed on May 2, 2018, while adding to its position by participating in High Tide’s offering of special warrants that closed on October 2, 2018.
Anthony Durkacz, Co-Chairman of the Board and Founder of FSD, said, “I am extremely proud of Raj Grover and his team at High Tide for achieving this incredible milestone. High Tide is an established company with nearly 10 years of experience in developing highly competitive products and retail concepts and I am pleased that its shares are now widely available on the CSE to investors. The High Tide group of companies has achieved a lot over the last decade, especially over the last year, and FSD looks forward to working with High Tide on mutually beneficial growth opportunities long into the future.”
During 2018, the High Tide group of companies – RGR Canada, Famous Brandz, Smoker’s Corner, Canna Cabana and the majority of KushBar – was strategically reorganized to form a vertically-integrated accessory and cannabis network prior to legalization. Over the course of the year, the company successfully completed an offering of special warrants, opened its first four retail cannabis stores in Alberta with over 20 more currently in various stages of construction, secured approximately 20 retail locations in Ontario, acquired one of the industry’s foremost e-commerce platforms in Grasscity and recently announced a brokered private placement of convertible debentures. Continue Reading
Toronto – December 12, 2018 – FSD Pharma Inc. (“FSD Pharma”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) today announced that it is the featured company in the CannaInvestor Magazine December 2018 Issue. CannaInvestor Magazine is the leading industry investment magazine for cannabis investors, analysts, executives, entrepreneurs, and the financial media. The digital version of the magazine is accessible and free to all subscribers who enter their email address. FSD Pharma’s cover feature can be found by clicking on this link https://joom.ag/0j5a or visiting CannaInvestor Magazine’s website www.cannainvestormag.ca. Continue Reading
TORONTO–(BUSINESS WIRE)–FSD Pharma Inc. (“FSD Pharma”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9), which, through its wholly-owned subsidiary, FV Pharma Inc. (“FV Pharma”), is a licensed producer pursuant to the Cannabis Act, announced today that it has entered into a definitive Collaboration and License Agreement (the “Agreement”) with World Class Extractions Inc. (“World Class”), a company that has developed a unique extraction process designed to produce quality, potent cannabis extracts. World Class is also in the process of completing its own previously announced reverse takeover of CBD Med Research Corp. (the “RTO”), and submitted its initial listing application to the Canadian Securities Exchange (the “CSE”) late last week.
Under the terms of the agreement and a related lease, FSD Pharma will provide World Class with space at its 620,000 square foot facility in Cobourg, Ontario (the “FSD Facility”), assist it in obtaining an extraction license from Health Canada, and provide World Class with the raw cannabis needed to produce cannabis extracts. In return, World Class will provide FSD Pharma with certain royalty rights over the profits derived from the sale of those cannabis extracts.
FSD Pharma will provide World Class with up to 5,000 square feet of space at the FSD Facility (the “World Class Premises”). World Class will build and install, at its expense, its own manufacturing facility within the larger FSD Facility, at which it intends to extract and process CBD enriched oil and other extracts (the “World Class Products”). In addition, FSD Pharma will assist World Class in preparing an application to Health Canada under the Cannabis Act to obtain the necessary license (the “License”) to carry out its cannabis extraction activities. In particular, FSD Pharma will assist with the following components of the application:
a) drafting, or coordinating 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.
FSD Pharma will, through FV Pharma, also provide World Class with substantial assistance in producing the World Class products. During the period prior to World Class obtaining the License, the parties will produce the World Class products under a license that FV Pharma intends to obtain. In addition, FSD Pharma will provide World Class with all of the raw cannabis needed to produce the World Class Products, both before and after World Class obtains the License.
As consideration for the significant assistance provided by FSD Pharma, there will be no capital obligations required. All considerations will be paid in the form of a tolling fee structure whereby World Class will retain 7% of the value of all World Class Products produced at the World Class Premises, which will be payable, at World Class’s option, in cash or World Class Products.
Rupert Haynes, CEO of FSD Pharma commented, “FSD Pharma has entered into this agreement to take advantage of World Class’s proprietary WCE Technology, which we believe provides us with a competitive advantage due to its unique benefits, such as the ability to process live and wet cannabis plants in their entirety. Under the terms of the agreement, we will have access to the highest quality CBD extracts produced from our own indoor, hydroponically-grown cannabis plants. We intend to work closely with the World Class team to help expedite the application process and the granting of the company’s extraction license from Health Canada.”
Michael McCombie, CEO of World Class stated, “Setting up our operations in the FSD Pharma facility ensures that we have access to both a steady supply of quality cannabis plants for processing and to a team of experts in the license application process. We expect to be listed on the CSE shortly and will be setting up our operations at the FSD Pharma facility in early 2019. This is an exciting time for World Class to be entering the cannabis marketplace with our patent-pending proprietary WCE technology and to be supplying the growing market for CBD extracts.” Continue Reading
Toronto – December 3, 2018 – FSD Pharma Inc. (“FSD” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today that the Company has traded over four Billion Class B subordinate voting shares in its first six months of trading on the Canadian Securities Exchange (“CSE”). During the period of May 29, 2018 to November 29, 2018, the Company traded exactly 4,041,346,300 Class B subordinate voting shares on the CSE. This is the largest total quantity of share volume ever traded by a CSE listed issuer within one year of consecutive days of trading as confirmed by the CSE.
The Company wishes to again thank all its shareholders and stakeholders for their support to date, which has resulted in another record-breaking launch into the Canadian cannabis marketplace.
TORONTO, November 30, 2018 – FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) today reported its financial and operational results for the third quarter of fiscal 2018, ended September 30, 2018. These filings are available for review on the Company’s SEDAR profile at www.sedar.com.
Financial and Operational Highlights for the Company:
• Mark to market investment gain of $6.8 million in Q3
• Positive Earnings per share in Q3 of $0.003
• Strong cash position, exiting September 30, 21018 with $33.8 million and no debt
• Successfully achieving transformational milestones of targeting all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extraction and cannabinoid pharmaceutical research and development
• Received license to sell to other licensed producers while also increasing production footprint
• Construction timeline and budget remain in line with expectations for the 220,000 square foot phase 1 expansion at the facility in Cobourg in partnership with Auxly Cannabis Group Inc.
• Full sales license in progress for Cobourg facility
The construction in Cobourg, Ontario remains on schedule with cultivation expected to commence in the first half of 2019. The Company maintained a strong balance sheet with cash of $33.8 million, no debt, and continues to execute on the transformational vision of becoming the largest indoor grow facility in the world, while also having expertise in processing, manufacturing, extraction and cannabinoid pharmaceutical research and development.
FSD Pharma continues to realize the financial benefits of its strategic investments in the cannabis space, which is evidenced by the Company’s Q3 mark to market profit of $6.8 million for its investment portfolio. Investments in strategic partners as of September 30, 2018 had a market value of $20.1 million adding to the strength of the balance sheet.
The Company recently added tremendous depth to both its senior executive team and its Board of Directors. FSD Pharma intends to continue to build out its team to ensure a successful transformation into being a global leader in cannabinoid pharmaceutical based treatments and will continue to invest heavily in research and development to realize this vision.
“We are pleased with our achievements since going public. We continue to work tirelessly towards our goal of becoming a global leader in cannabinoid pharmaceutical based treatments,” said Zeeshan Saeed, President and Founder of FSD Pharma. “Construction with our partners Auxly is on schedule and we expect to have our sales license shortly. Our strong balance sheet affords us the luxury of being able to ensure success as we transform the Company into a renowned leader in the cannabinoid pharmaceutical space, while building out the largest indoor cultivation facility in the world.”
On Behalf of the Board of Directors,
FSD Pharma Inc. Continue Reading
Toronto – November 29, 2018 – FSD Pharma Inc. (“FSD Pharma”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today that Dr. Zohar Koren, CEO of its Strategic Partner SciCann Therapeutics (“SciCann”) and Head of its Scientific Advisory Board, will present at the International Cannabinoid-Derived Pharmaceuticals Summit (“iCDP Summit”) in Boston, on December 11-12, 2018.
The iCDP Summit is a central meeting place for leading pharma companies, research experts and clinical pioneers in the field of Cannabinoid Derived Pharmaceutical development, including delegates of field leaders such as GW Pharmaceuticals plc, Tilray Inc. and GB Sciences Inc. The Summit speakers and participants will discuss issues such as complex Cannabinoid pharmacology, formulations and delivery systems, clinical studies, patient education and commercial challenges.
Dr. Koren will present the latest scientific results achieved by SciCann in the field of anti-inflammatory CBD based therapies and discuss the revolutionary implications these breakthrough technologies can have for the benefit of patients suffering from acute and chronic inflammation such as inflammatory bowel diseases, auto-immune disorders and cardiovascular conditions. He will also discuss the line of proprietary CBD combination products licensed from SciCann to FSD Pharma for commercialization in Canada.
Dr. Raza Bokhari, Co-Chairman and interim CEO of FSD Pharma, stated “Dr. Koren has set for himself the goal of becoming a leading pharmaceutical developer of novel and disruptive cannabinoid derived products and this is a great opportunity for him to share his research and unique findings with global key opinion leaders and scientific experts in the field of cannabinoid research attending the Summit. We are happy to have him as the Head of our Scientific Advisory Board and look forward to working with him and his team.”
For more information on the conference: http://international-cdp.com/
Toronto – November 28, 2018 – FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today that the Company’s facility and land located at 520 William Street in Cobourg, Ontario has a Fair Market Value of $105,000,000 according to a recent Comprehensive Property Value Assessment by a commercial real estate assessment specialist issued on November 20, 2018.
Due to the nature of the property, the current value assessment was conducted using the Cost Approach and incorporated property improvements of over $10,000,000 by the Company since acquisition, ongoing Joint Venture Capital Improvements by Auxly Cannabis Group Inc. (TSX.V – XLY) of over $50,000,000 and Government-Issued Licenses for the production and sale of cannabis attached to the footprint of the property. Also considered in the assessment were unique features of the site, including its classification as a special use/purpose government food-grade facility with train access directly on the property, an on-site power generating station, and substantial ongoing capital renovations under Health Canada Guidelines and Specifications.
In the opinion of the commercial real estate assessment specialist, the property as a whole at the time of completion and operation of approximately 3,000,000 square feet would have an overall property value of an estimated $420,000,000 (at an average cost of 250 dollars per square foot to build out). At full capacity, the facility is expected to produce 400 million grams of dried cannabis flower per year.
Dr. Raza Bokhari, interim CEO and Co-Chairman of the Board commented, “The Company continues to collaborate with our partner Auxly to build out our Cobourg facility, which currently includes 620,000 square feet of building space available with a phased-in plan over the next 6 years to build out a total of 3,896,000 square feet. We are pleased to see that our ongoing efforts are paying off, both in terms of grow space expansion and capital investment.” Continue Reading
– Management addition comes as FSD accelerates specialty cannabinoid pharmaceutical global expansion strategy –
TORONTO – November 26, 2018 – FSD Pharma Inc. (“FSD Pharma” or “FSD”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today the appointment of Rupert Haynes as Chief Executive Officer. Mr. Haynes is a highly accomplished healthcare executive with nearly three decades of global pharmaceutical experience having most recently held the position of Head of Global Marketing at GW Pharmaceuticals (Nasdaq: GWPH) in the United Kingdom. In his new role with FSD Pharma, Mr. Haynes will continue to work out of the United Kingdom, which will support FSD Pharma’s strategy of expanding its global footprint. Interim CEO and Co-chairman of the board, Dr. Raza Bokhari will remain in place as CEO until Mr. Haynes officially assumes the role.
“Mr. Haynes has an impressive track record in pipeline and product development which is directly relevant to FSD’s vision of becoming a global cannabinoid based pharmaceutical leader,” said Dr. Raza Bokhari, Co-chairman of the Board. “He blends world class specialty pharmaceutical experience with a fast-paced biotech mindset that will help accelerate FSD’s growth and global expansion strategy by assembling a top tier management team and pursuing targeted mergers & acquisitions. On behalf of the Board, I welcome him to the company.”
As head of Global Marketing at GW Pharmaceuticals, Mr. Haynes oversaw the strategic development of the firm’s cannabinoid portfolio including numerous cannabinoid pipeline products across dozens of therapeutic areas, but primarily neurological, neurodegenerative and neuropsychological conditions. Mr. Haynes was also involved in the strategic planning & development of Epidiolex®, an FDA-approved cannabidiol, for the treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome. Before GW, Mr. Haynes held numerous commercial roles, including senior leadership positions, at both large pharma and bespoke biotech firms which include Sobi, UCB Pharma, Bristol-Myers Squibb Ltd, UK, and Pharmacia & Upjohn Ltd, UK. Continue Reading
TORONTO – November 14, 2018 – FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today the appointment of David Urban to the Company’s Board of Directors.
Mr. Urban is an accomplished business and government relations executive. He advises companies ranging in size from start-ups to the Fortune 100 on interaction with government in order to maximize stakeholder and shareholder value. In the field of politics, Mr. Urban has achieved success serving as an advisor to campaigns at the highest levels, including the President of the United States, the United States Senate and United States House of Representatives. In addition to his role as a government consultant and political advisor, Mr. Urban is a frequent contributor to CNN as a political commentator.
“It is an honor to welcome David Urban to the FSD Pharma Board of Directors. David has been a good friend and a personal advisor to us on policy relating to our industry in Washington, DC,” said Dr. Raza Bokhari, interim CEO and Co-Chairman of the Board. “His experience influencing public policy debates and as a bi-partisan government relations leader at the highest level will powerfully amplify FSD Pharma’s message regarding the compelling role that synthetic cannabinoids can play in effectively treating neurological disorders and finding a better solution to counter the opioid epidemic.”
“Our vision for FSD Pharma to become a global leader in medicinal cannabis is beginning to solidify. David’s legislative acumen will be of vital importance as we embark on a quest to affect the conversation on this very important topic in the US capitol,” said Anthony Durkacz Co-chairman & Co-Founder.
“David’s joining the Board as an independent Director is an important milestone for the Company and we welcome his expertise in advancing education and awareness about the potential contribution that cannabinoids can have in addressing the opioid epidemic,” added Zeeshan Saeed, President and Co-Founder.
“I’m pleased to be joining the FSD Pharma Board of Directors,” said Mr. Urban. “As the United States Congress and current Administration look at innovative ways to address the national crisis of opioid abuse, dependence, and overdose, I believe it’s important to work on a bi-partisan basis to expand awareness of research and development of synthetic cannabinoid pharmaceuticals as a viable option to this crisis.”
Mr. Urban joins the Board of Directors bringing important high-level experience and expertise in public policy, legislative and political arenas. Continue Reading