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FSD Pharma Inc. goes public, progresses with business plan

The cannabis company is focused on building the world’s largest indoor hydroponic cultivation and processing facility

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The company continues to build out its state-of-the-art hydroponic cultivation and processing facility in Cobourg, Ontario

FSD Pharma (CSE:HUGE) announced today that it has started trading publicly on the Canadian Securities Exchange (CSE), as well as continuing to cultivate its business through financing, licensing, investing and operational goals.

“Today marks an exciting achievement for us to become a publicly traded on the CSE…” said Thomas Fairfull, president and chief executive officers of FSD. “The Canadian cannabis industry is developing with pace and we believe quality cannabis will be the backbone of all our future cannabis, cannabis products, ancillary business and pharmaceutical development initiatives.”

The company says it is committed to cultivating the highest quality cannabis at scale through building out its state-of-the-art hydroponic cultivation and processing facility in Cobourg, Ontario – the world’s largest.

“Going forward, we will continue to aggressively pursue our business plan and update our shareholder community in an ultimate effort to deliver significant shareholder value,” said Fairfull.

Other highlights

FSD Pharma has also been busy checking a number of items off its list, including these highlights:

  • The company closed on the purchase of the former KRAFT food manufacturing facility in Cobourg, Ontario, which is owned with no debt. The facility is an existing 620,000 sq/ft indoor facility sitting on a 70 acre parcel of land.

  • It has raised $53,000,000 of equity capital to date, led exclusively by First Republic Capital

  • In October 2017, FSD Pharma’s wholly owned subsidiary FV Pharma Inc. obtained its ACMPR license to cultivate as a federally licensed producer

  • It developed a strategic partnership with Cannabis Wheaton Income Corp. (CVE:CBW). Wheaton will develop the company’s cultivation facility (receiving 49.9% of all cannabis and cannabis related production from the facility) and it is anticipated that at full capacity, 200,000,000 grams of dried cannabis flower will be received by FV Pharma annually.

Shares of FSD Pharma were at C$0.13 on Tuesday.

Quick facts: FSD Pharma

Price: 6.3 CAD

CSE:HUGE
Market: CSE
Market Cap: $49.24 m
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FSD Pharma CEO updates corporate moves, progress at hydroponic cannabis facility

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on 20/2/19

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