April 1, 2019 MJ Shareholders
April 1st, 2019
Canada’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of recreational cannabis last year and the upcoming legalization of oils, concentrates and edibles. Investors have many opportunities in the space, but few companies offer both a massive production footprint and strategic investments in new technologies that could revolutionize the industry.
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) is best-known for its massive cannabis production facility that’s under construction in a former Kraft Foods plant, but it has also made compelling investments in a number of innovative technologies in the space. After its recent restructuring, investors may want to take a closer look at the stock as new management re-focuses on unlocking long-term shareholder value.
New FV Pharma President
FSD Pharma recently announced the appointment of Sara May, Ph.D., to President of FV Pharma, a wholly-owned operating subsidiary of FSD Pharma. Dr. May brings over a decade of experience designing, implementing and managing large-scale research projects in field, laboratory, and greenhouse settings, making her uniquely suited for the position. She replaces Mr. Thomas Fairfull who will be transitioning out of the company.
“We are excited to elevate Dr. May’s current position to President of FV Pharma. Her significant experience managing cannabis operations has already proven a great addition to the company,” said FSD Pharma Executive Co-Chairman and CEO Dr. Raza Bokhari in a recent press release. “Her robust expertise has been remarkable and will support efficient advancement of the strategic objectives of FV and FSD Pharma.”
The company also announced that Vladimir Klacar, Auxly Cannabis Group’s nominated Director, has resigned from the Board of Directors at the request of the company following the termination of the company’s joint venture with Auxly Cannabis Group. However, the company’s board still contains many leading cannabis industry voices, including David Urban, Gerald Goldberg, CPA, CA, and many others.
Pivotal Moment in History
Dr. Sara May’s promotion to President of FV Pharma comes on the heels of a wider corporate shakeup. In early-February, the company appointed Dr. Raza Bokhari to interim Chief Executive Officer of FSD Pharma and terminated the company’s joint venture with Auxly Cannabis Group Inc. to continue advancing its flagship cultivation facility after experiencing delays from the originally scheduled December 2019 readiness date.
“We have a clear plan moving forward to build a global retail and medicinal cannabis footprint,” said Dr. Bokhari in the press release announcing the prior updates. “We intend to continue our 220,000 phase 1 building expansion and are assessing different opportunities with strategic partners and construction companies including utilizing our cash, securities and other assets on hand to continue progressing forward.”
In addition to advancing its cultivation plans, the company continues to invest in next generation technologies that could pay big dividends. For example, the company made a $1.5 million strategic investment in Pharmastrip Corp., which is developing a medical cannabis-infused oral thin film strip technology, and signed a non-binding letter of intent with Solarvest BioEnergy Inc. to research the use of algae to produce cannabinoids at scale.
FSD Pharma Inc.’s (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) recent management shake-up and joint venture termination underscore its determination to deliver shareholder value by advancing its projects and investments. With the appointment of an experienced FV Pharma president and ongoing investments in new technologies, investors may want to take a closer look at the company over the coming months.
For more information, visit the company’s website at www.fsdpharma.com.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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