FSD Pharma (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced that its subsidiary FV Pharma has received its full sale for medical purposes license to sell cannabis under the Cannabis Act of Canada.
The license, effective as of June 21, allows the FSD facility in Cobourg, Ontario, to supply and sell cannabis products, including dried and fresh cannabis to the medicinal use marketplace.
FV Pharma can now begin delivering cannabis to patients who hold prescriptions from authorized healthcare providers.
“Achieving this final step in the sales licensing process is much awaited positive news for all of our shareholders and stakeholders. We can now serve the needs of patients who rely on medicinal cannabis products to manage a range of illnesses and diseases,” stated Raza Bokhari, executive co-chairman and CEO.
FSD Pharma Cannabis Business
FSD Pharma is focused on the development of the indoor grown, pharmaceutical grade cannabis and on the research and development of novel cannabinoid-based treatments for several central nervous system disorders, including chronic pain, fibromyalgia and irritable bowel syndrome.
The company has 25,000 square feet that is licensed at its Ontario facility and expansion is currently underway. FSD facilities sit on 70 acres of land with 40 acres primed for development and an expansion capability of up to 3,896,000 square feet by 2025.
FSD’s subsidiary FV Pharma is a licensed producer under the Cannabis Act and Regulations, having received its cultivation license on October 13, 2017 and its sale for medical purposes license on April 18, 2019.
FV Pharma is working to transform its current headquarters in a Kraft plant in Cobourg, Ontario into the largest hydroponic indoor grow facility in the world.
