FSD Pharma Completes Harvest and Passes Analytical Testing of Second Lot
January 08 2019 - 10:00AM
InvestorsHub NewsWire
FSD Pharma
Completes Harvest and Passes Analytical Testing of Second
Lot
Company in position for
pre-sales license inspection, last step to issuance of a Sales
License
Toronto, ON --
January 8, 2019 -- InvestorsHub
NewsWire -- FSD Pharma Inc. (“FSD
Pharma” or the “Company”) (CSE: HUGE) (OTC: FSDDF) (FRA:
0K9) is pleased to announce that its wholly-owned
subsidiary, FV Pharma Inc. (“FV Pharma”), a licensed cannabis
producer under the Cannabis Act, has completed
the harvest of its second lot of cannabis and successfully passed
all analytical testing, thereby positioning the Company to request
a Pre-Sales License Inspection from Health Canada. The
Pre-Sales License Inspection is the last step prior to the issuance
of a Sales License under the Cannabis Act and
Regulations.
Zeeshan Saeed, President
and Founder of FSD Pharma stated, “With the completion of
analytical testing and the recent addition of grow rooms to our
license, we are now positioned to submit our readiness report for a
pre-sale inspection, while at the same time being able to
continuously cultivate and harvest all existing licensed space so
as to maximize supply to the medicinal and recreational markets.
This is yet another significant step in the Company’s strategic
implementation of its business plan to be the largest indoor
licensed producer of cannabis.”
About
FSD Pharma
FSD Pharma is
focused on the development of the highest quality indoor grown,
pharmaceutical grade cannabis and on the research and development
of novel cannabinoid-based treatments for several central nervous
system disorders, including chronic pain, fibromyalgia and
irritable bowel syndrome. The Company has 25,000 square feet
available for production at its Ontario facility with an additional
220,000 square feet currently in development (with an estimated
cost of $250 per square foot to be completed in
2019).
FSD facilities
sit on 72 acres of land with 40 acres primed for development and an
expansion capability of up to 3,896,000 square
feet.
FSD's
wholly-owned subsidiary, FV Pharma, is a licensed producer under
the Cannabis Act and Regulations, having received its
cultivation license on October 13, 2017. FV Pharma’s vision is
to transform its current headquarters in a Kraft plant in Cobourg,
Ontario into the largest hydroponic indoor grow facility in the
world. FV Pharma intends to cover all aspects of this exciting new
industry, including cultivation, legal, processing, manufacturing,
extracts and research and development.
Forward-Looking Information
Neither the
Canadian Securities Exchange nor its regulation services provider
accept responsibility for the adequacy or accuracy of this
release.
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.
Additional
Information:
Zeeshan Saeed, President and Founder, FSD Pharma
Inc.
Email: zeeshan@fsdpharma.com
Telephone: (416)
854-8884
Investor
Relations
Email: IR@fsdpharma.com
Website: www.fsdpharma.com
Media
Relations
Ned Berkowitz
Email: Ned.Berkowitz@russopartnersllc.com
Tel: (646) 942-5629
SOURCE FSD Pharma
Inc.
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