TORONTO--(BUSINESS WIRE)--FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDD) (FRA: 0K9) (“FSD” or the “Company”) today announced that the Company’s Class B Shares are trading on the OTCQB under the ticker symbol FSDDD for 20 business days, effective as of October 16, 2019. On November 13, 2019, the OTCQB symbol will revert to FSDDF.
The temporary change is protocol for exchange stocks that undergo structural events, such as the 1:201 share consolidation announced by FSD Pharma on October 11, 2019 to advance the Company’s strategic plan to increase visibility among U.S. investors and list on a major U.S. exchange.
About FSD Pharma
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis. The Company is licensed to cultivate cannabis in approximately 25,000 square feet of its facility.
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 and its full Sale for Medical Purposes license on June 21, 2019. FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
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, including statements relating to the Consolidation and the Company’s intent to list on a major U.S. exchange, 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 FSD Pharma's current belief or assumptions as to the outcome and timing of such future events. Actual future results and developments may differ materially. The forward-looking information contained in this press release is made as of the date hereof, and FSD Pharma 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.