TORONTO, Aug. 2, 2018 /PRNewswire/ - FSD Pharma Inc. ("FSD") (CSE: HUGE) (OTC: FSDDF), is pleased to announce the appointment of Dr. Raza Bokhari to its Board of Directors, effective immediately.
Dr. Bokhari 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. 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. An effective "change agent", with several years of experience and expertise in start-up and turn-around businesses, he is adept at turning around financially struggling companies. Dr. Bokhari recognizes the special role of private equity funds, venture capital money, and leveraged debt partners in executing accelerated growth trends in healthcare services and cancer diagnostics and therapeutics.
"We welcome Dr. Bokhari to the Board of Directors of FSD with his wealth of knowledge in international pharmaceuticals and we thank Mr. Donal Carroll, our current CFO for his work as a Board Member. Under current corporate law, Mr. Carroll has resigned his position to make room for our newest board member, Dr. Bokhari," stated Thomas Fairfull, President and Chief Executive Officer of FSD. "I look forward to working with both of these experienced and talented professionals in their new capacities," continued Mr. Fairfull.
Recognizing his zeal and passion for innovative entrepreneurship, Temple University's Fox School of Business and Management nominated him "Entrepreneur in Residence" for the academic year 2001-2002. In October 2004, Philadelphia Business Journal (PBJ) named Dr. Bokhari's company, Parkway Clinical Laboratories (PCL) as one of the top three small businesses to work for in the greater Philadelphia area. In 2001, he acquired financially distressed Lakewood Pathology Associates (LPA). During his term as the President and CEO until May 2007, the company grew ten times in revenue, expanded its client base to more than 25 states and created more than a hundred new jobs in the region. In June 2005, 2006, and 2007, PBJ also recognized LPA as one of the fastest growing top 25 companies in South Jersey. In 2006, LPA was included in the Philadelphia 100® fastest growing companies of the region. In May 2006, Dr. Bokhari sold LPA to a Chicago based PE fund, Water Street Healthcare Partners. The company received a $50 million equity commitment and produced an IRR of 3,684% (EBITDA x 8.3). In July 2008, he finalized the merger of PCL with Rosetta Genomics (ROSG), a global biotech R&D Company leading the microRNA revolution in cancer diagnostics and targeted therapeutics, to help execute Rosetta's global commercialization efforts; the transaction produced an IRR of 137% (EBITDA x 27).
In April of 2016, Dr. Bokhari was named co-chair of the $100 Million centennial campaign to commemorate the 100 year anniversary of the Fox School of Business at Temple University, which he kicked off by making a $1 million leadership contribution. This follows his November 2006 $1 million gift to Temple University. In recognition of his support to Temple University and for promoting entrepreneurship in the region and beyond, the suite housing the Fox Business Innovation & Entrepreneurship Institute was named "Raza Bokhari Innovation & Entrepreneurship Suite".
Dr. Bokhari is frequently retained as a consultant for due diligence by PE and VC funds focused in investing in life sciences/bio-tech and healthcare services companies. Regional, national and international media outlets and newspapers have either interviewed him or published his profile as an industry expert and community/civic leader. Dr. Bokhari has also spoken before professional organizations and academic institutions, including the US Congressional Caucus at Capitol Hill in Washington DC.
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. More information on Dr. Bokhari is available at www.razabokhari.com.
About FSD Pharma Inc. (CSE:HUGE) (OTC:FSDDF)
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.
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 establishment of an M&A committee. There is no assurance that any M&A transaction will be completed, nor any assurance as to the terms or timing of any such transaction. M&A transactions are subject to a number of conditions including due diligence and third party consents. Transactions of this kind are also subject to a number of risks, including competition from other parties, more particularly described in FSD's public filings. 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.
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SOURCE FSD Pharma Inc.
Released August 2, 2018
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