FSD Pharma Inc. Welcomes Official Passing of Cannabis Act in Canada
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TORONTO, June 22, 2018 /CNW/ – FSD Pharma Inc. (“FSD” or the “Company”) (CSE:HUGE), welcomes the official passing of Bill C-45, the Cannabis Act in Canada.
Bill C-45 formally received Royal Assent Thursday morning in Canada’s Parliament. The bill officially becomes law on October 17, 2018 when retail sales begin, according to an announcement by Canada’s federal government. The law effectively signals the end of 95 years of prohibition on the sale and consumer use of cannabis in Canada, a historic moment for Canadians and the cannabis sector. Canada is the first G7 country to legalize the adult consumer use of cannabis.
“FSD Pharma commends the Canadian Government for its leadership and rational debate on the cannabis issue” said Thomas Fairfull, CEO. “With the public concern being front and center to the debate, Canadians and Canada’s youth will now benefit from a well-regulated system that serves to protect the public from a currently unregulated black market. Canada has demonstrated world leadership in establishing legislation for the production, sale and distribution of medicinal cannabis. The country has now demonstrated further global leadership on the consumer level.”
Mr. Fairfull further commented, “FSD is currently executing its business strategy to produce, sell and distribute high-quality low-cost pharmaceutical-grade cannabis on a national level from the world’s largest indoor hydroponic facility. As we continue to build scale in the achievement of our company mission, we will focus on producing and delivering innovative products to the cannabis sector and to Canadian consumers.”
About FSD Pharma Inc.
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 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 regulations services accept responsibility for the adequacy or accuracy of this release.
SOURCE FSD Pharma Inc.
For further information: Investor Relations, Email: IR@fsdpharma.com, Website: www.fsdpharma.com