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.
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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.
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