TORONTO--(BUSINESS WIRE)--FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today that in celebration of its wholly-owned subsidiary FV Pharma Inc. having been awarded a sales license by Health Canada, the company is hosting a media event at its headquarters in Cobourg at 520 William St., a former Kraft plant. Presenting at the event are the Company’s senior management team members, local MP, Kim Rudd and Cobourg Mayor, John Henderson.
“Our company has received incredible support from the local community. It is through this support that we were able to achieve this milestone,” said President and Co-Founder Zeeshan Saeed. “The sales license is the last step in our official entrance to the national cannabis market. This allows us to accelerate investment in production, add jobs, and contribute to the local economy in a meaningful and responsible way. We are committed to Cobourg and the surrounding region and are confident that we can find the employees we need from the local talent pool,” added Saeed.
The company has committed publicly that it will be adding a number of jobs over the next few years as it ramps up activities. Most of these jobs will be sourced from the local talent pool.
“It is great to see an investment of this scale come to our community. We know the hard work and diligence that FSD Pharma went through to get to this point and I am confident that they will be a great corporate citizen for this region for years to come,” said local Member of Parliament, Kim Rudd.
Cobourg Mayor John Henderson, added, “We congratulate FSD Pharma for this milestone achievement and welcome them and the opportunities they will be creating for the community. Today the Town of Cobourg celebrates with the company, and we look forward to being a partner in its continued growth.”
FSD Pharma’s wholly-owned subsidiary, FV Pharma Inc., was awarded the Sales License on April 18, 2019. The company had previously obtained its cultivation license in October 2017, and its processing license in February 2019. The Kraft facility was purchased by FSD Pharma in 2016.
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.
FSD facilities sit on 70 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. For additional information on the company, please visit our website at www.fsdpharma.com.