FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) is a life sciences holding company dedicated to building a portfolio of assets and biotech solutions. The company has announced its entry into a firm agreement in connection with the sale of its former Cobourg, Ontario-based cannabis processing facility and the 64.43-acre property on which the facility is located (the “transaction”). In consideration of the purchase of the facility, the purchaser has agreed to pay a cash sum of CAD$16,500,000, including a deposit of CAD$660,000 (the “deposit”). FSD Pharma received the deposit on Feb. 24, 2022, and the transaction, which is subject to the satisfaction of a number of conditions, is expected to close on May 31, 2022. If closed, the injection of money will be non-dilutive to shareholders.
To view the full press release, visit https://ibn.fm/L6jG0
About FSD Pharma Inc.
FSD Pharma is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences Inc., a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc., a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. For more information, visit the company’s website at www.FSDPharma.com.
BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
To receive SMS text alerts from BioMedWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.BioMedWire.com
BioMedWire is part of the InvestorBrandNetwork