FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A), a life-sciences holding company dedicated to building a portfolio of assets and biotech solutions, has entered into an agreement with Tekkfund Capital Corp. According to the contract, Tekkfund will help structure and assist with FSD Pharma business development strategies. In return, FSD Pharma has agreed to pay a C$12,500 monthly fee as well as issue 7,000 Class B subordinate voting shares every month to Tekkfund for the duration of the agreement, which is for 24 months initially but allows for an extension. According to the announcement, those shares will be subject to a four-month hold, which is in accordance with Canadian Securities Exchange regulations. In March, FSD Pharma also issued 30,000 Class B subordinate voting shares to Crystal Research Associates LLC; those shares were issued in conjunction with the preparation of a research report that Crystal has performed; those shares will also be subject to a four-month hold.
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About FSD Pharma Inc.
FSD Pharma, with only 38.4 million shares issued or outstanding, 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, ultramicronized palmitoyl ethylamine (“PEA”) or FSD-PEA, formerly called FSD-201. Lucid Psycheceuticals Inc. is a wholly owned subsidiary 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 about the company, please visit www.FSDPharma.com.
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