Company Also Reports Q1 2019 Financial Results
TORONTO–(BUSINESS WIRE)–#FSDDF–The Board of Directors of FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF)
(FRA: 0K9) (“FSD” or the “Company”), unanimously voted Raza Bokhari,
M.D., Executive Co-Chairman of the Board, as permanent Chief Executive
Officer. Dr. Bokhari has served as interim CEO of the Company since
February.
“It is a high honor to assume such an awesome responsibility at this
very important inflection point in our Company’s history,” said Dr.
Bokhari. “I am counting on our hardworking and enterprising team, our
esteemed board members and the generous support of our shareholders and
stakeholders to guide me in my role as CEO. We aim to deliver
sustainable, positive shareholder value in this groundbreaking,
disruptive cannabinoid-based industry where we hope to have the
potential to help alleviate pain and suffering for people around the
world, through the use of medicinal grade cannabis and synthetic and
biosynthetic cannabinoid pharmaceuticals.”
Anthony Durkacz, FSD founder & Executive Co-Chairman said, “As interim
CEO, Dr. Bokhari has already navigated the company through some tough
decisions, and he is rapidly advancing our strategic vision and mission
to become a market leader in medicinal cannabis and cannabinoid
pharmaceutical applications.” It was a logical and easy decision for the
board to unanimously appoint Dr. Bokhari permanent CEO in addition to
his role as the Executive Co-Chairman. I have no doubt in my mind that
he will lead FSD to better days ahead.”
Dr. Bokhari brings a wealth of knowledge in global business and
healthcare services. He currently serves as the Chairman of the Board of
PCL, a nearly 50-year-old global diagnostic provider of addiction
screening and opioid prescription medication monitoring, including
designer drugs and synthetic cannabinoids. He is also the managing
partner of RBxCapital, LP, a multi-strategy, multi-stage PE fund focused
on investing primarily within the healthcare and cannabinoid space. Dr.
Bokhari is the Recipient of Philadelphia Business Journal’s “40 under
40” award and has over the past several years developed outstanding
expertise in aggregating and accelerating life sciences and healthcare
services companies. He has a vast knowledge base of developing creative
concepts, implementing programs and forming strategic alliances. Dr.
Bokhari has a Doctor of Medicine degree from the University of Punjab,
Rawalpindi Medical College, and an Executive MBA from Temple University,
Fox School of Business & Management.
On May 30, the company also reported its financial results for the three
months ended March 31, 2019. These filings are available for review on
the Company’s SEDAR profile at www.sedar.com.
About FSD Pharma
FSD Pharma is focused on the development of the highest quality 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 wholly-owned 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’s vision is to transform its current
headquarters in a Kraft plant in Cobourg, Ontario into the largest
hydroponic indoor grow facility in the world. FV Pharma intends to cover
all aspects of this exciting new industry, including cultivation, legal,
processing, manufacturing, extracts and research and development. For
additional information on the company, please visit our website at www.fsdpharma.com.
Forward-Looking Information
Neither the Canadian Securities Exchange nor its regulation services
provider accept responsibility for the adequacy or accuracy of this
release.
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words “could”,
“intend”, “expect”, “believe”, “will”, “projected”, “estimated” and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking information
and are based on FSD Pharma’s current belief or assumptions as to the
outcome and timing of such future events. Actual future results may
differ materially. Actual results and developments may differ materially
from those contemplated by these. The forward-looking information
contained in this press release is made as of the date hereof, and FSD
Pharma is not obligated to update or revise any forward-looking
information, whether as a result of new information, future events or
otherwise, except as required by applicable securities laws. Because of
the risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward looking-information. The
foregoing statements expressly qualify any forward-looking information
contained herein.
Contacts
Investor Relations
Email: IR@fsdpharma.com
Website:
www.fsdpharma.com
Media Relations
Ned Berkowitz
Email: Ned.Berkowitz@russopartnersllc.com
Tel:
(646) 942-5629
Zeeshan Saeed, President and Founder, FSD Pharma Inc.
Email: zeeshan@fsdpharma.com
Telephone:
(416) 854-8884