#FSDPharma

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FSD Pharma Plots German Expansion After Aura Investment

FSD Pharma is targeting expansion in Germany and other European markets after agreeing to a share exchange transaction with Aura Health. Toronto-based Aura has set about building an international portfolio of vertically integrated cannabis assets over the past couple of years. It has a particular focus on Israel and Germany, and it is in the process of acquiring 80% of German distributor Pharmadrug for €5 million ($5.7 million). It will now help FSD Pharma secure EU GMP certification for its facility, a former Kraft food production plant in Cobourg, Ontario. That will allow FSD Pharma to export to the lucrative EU market, where medicinal cannabis sales are increasing after a number of countries legalized it. The European medicinal cannabis market is forecast to hit €58 billion ($65.6 billion) by 2028, according to Prohibition Partners. Germany is the largest economy on the continent and it is the major market for cannabis sales, ahead of the Netherlands and Italy. Aura Health is becoming well established there and FSD Pharma aims to join the party after agreeing to exchange 13,181,019 of its common shares for 13,562,386 Aura shares. The shares will be placed in escrow and released when the agent is satisfied.

A Consulting Agreement

As part of the deal, Aura will lend FSD its expertise in cracking the European market. It is expected that FSD will now become a preferred supplier to Pharmadrug for the German market. The Hamburg-based distributor, soon to become part of the Aura Health empire, will purchase 1,000kg per year from FSD when it becomes GMP-certified at a price of $7 per gram. “This agreement with Aura Health establishes a distribution channel for FSD in Germany and the Eurozone and allows the company to expand its footprint internationally,” said FSD founder and president Zeeshan Saeed. “As production at our Cobourg facility grows and following receipt of our euGMP certification, we will be able to supply our high-quality cannabis products to the medical markets in Europe.” Aura Health operates cannabis dispensaries in Nevada, Arizona and Florida, while it is building up a leading Israeli cannabis company and extending its tentacles across Europe.

Shares Soar After Milestone

It has been a busy week for FSD, which saw its share price increase 24.4% after gaining a license to sell medicinal cannabis across Canada. The plan is to ramp up production at its Ontario facility and invest in additional grow capacity. The sales license means that Canntab Therapeutics Limited (CSE: PILL) can now begin selling CBD and THC capsules in Canada and abroad. FSD and Canntab entered a collaboration and profit sharing agreement in Sept. 2018, with FSD providing space at its Cobourg facility and help in obtaining this coveted license. FSD has also agreed to buy US-based research and development specialist Prismic Pharmaceuticals Inc. for $17.5 million in shares. FSD said it wanted to purchase a firm that is dedicated to producing FDA-approved applications of synthetic cannabinoids. Shares in FSD opened at $0.28 today, up from $0.22 a month ago. Read the full article

[grizzlemedia-blog]

Auxly Cannabis and FSD Pharma Terminate Joint Venture for Cultivation Facility

Ontario-based Auxly Cannabis Group Inc. (TSX.V: XLY) officially terminated the company’s prior agreement with FSD Pharma Inc. (CSE: HUGE). $XLY $HUGE #marijuanastocks Read the full article

[stephanhokanson]

RT @tomangell: Today a former GOP congressman who repeatedly voted against medical marijuana measures joined the board of Canadian cannabis company @FsdPharma. In reply to our query about the evolution, the firm’s president sent a bizarre email about compensation. https://t.co/Q6kQ2dt6oa https://t.co/Swl955ZxyD

Today a former GOP congressman who repeatedly voted against medical marijuana measures joined the board of Canadian cannabis company @FsdPharma. In reply to our query about the evolution, the firm’s president sent a bizarre email about compensation.https://t.co/Q6kQ2dt6oa pic.twitter.com/Swl955ZxyD

— Tom Angell 🌳📰 (@tomangell) October 11, 2019

via Twitter https://twitter.com/stephanhokanson October 11, 2019 at 01:13PM

[capital10x]

Former Congressman Joins FSD Pharma Board

Ontario-based medical cannabis producer FSD Pharma Inc. (CSE: HUGE) has appointed former U.S. congressman Stephen Buyer to its board of directors. #marijuanastocks #potstocks $HUGE Read the full article

[capital10x]

FSD Pharma Names Bokhari Permanent Chief Executive

FSD Pharma (CSE: HUGE) has named Raza Bokhari as permanent chief executive after he impressed the board during a four-month interim stint at the firm. #marijuanastocks #potstocks Read the full article