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.
Ontario-based FV Pharma intends to operate one of the largest production facilities in North America, with plans to hire 1,500 employees over the next several years. The Company purchased the former Kraft plant in Cobourg in 2016 and expects to utilize the entire 3.8 million square foot facility for the production of various strains of cannabis, including many ancillary products. The company anticipates reaching full production capacity by 2021, with retail being a key element of the Company’s growth.
“Ensuring equal access to retail licenses is what is most important to our company as we plan our growth in Ontario. We look forward to working with this administration to ensure the licensing rules are fair and the true economic potential for the province can be realized,” concluded Fairfull.
For more information on FSD Pharma: https://fsdpharma.com/
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.
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.
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