TORONTO, Sept. 25, 2018 /CNW/ – FSD Pharma Inc. (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9) (“FSD Pharma” or the “Company), which, through its wholly-owned subsidiary FV Pharma Inc., is a licensed producer pursuant to the Access to Cannabis for Medical Purposes Regulations, is pleased to announce that the Company has received its first delivery of manufacturing equipment at its Cobourg plant from Canntab Therapeutics Limited (CSE:PILL) (“Canntab”), a leader in the rapidly growing cannabis pill market. The manufacturing equipment consists of a fully GMP High output Tablet press capable of pressing more than 1,500,000 tablets per day, as well as blending machinery, large scale process and drying equipment and packaging equipment.
Mr. Jeffrey Renwick, Chief Executive Officer of Canntab, stated, “With this first delivery of manufacturing equipment at the Cobourg plant, we can begin the process of setting up our manufacturing space in collaboration with FSD Pharma. We expect manufacturing of our suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets to begin in earnest.”
Zeeshan Saeed, EVP and Director of FSD Pharma, added, “We are thrilled that Canntab is moving so quickly to set up its manufacturing facility at our Company. We too are moving quickly to build out our own 220,000 square feet of additional manufacturing capacity in Cobourg in collaboration with Auxly. This is truly an exciting time at FSD Pharma.”
FSD Pharma and Canntab previously announced the signing of a definitive collaboration and profit sharing agreement (the “Agreement”) effective September 17, 2018. Under the terms of the Agreement, FSD Pharma will assist Canntab to obtain a license to process and sell cannabis products pursuant to the Cannabis Act (the “License”), and will provide Canntab with space at its facility (the “FSD Facility”), which is located just one hour east of Toronto in Cobourg, Ontario (the “Transaction”).
FSD Pharma will provide Canntab with up to 10,000 square feet of space at the FSD Facility (the “Canntab Premises”). Canntab will build and install, at its expense, its own manufacturing facility within the larger FSD Facility that will operate in accordance with Good Manufacturing Practices, at which it will produce a suite of novel cannabis oral dose delivery platforms, including gel capsules and tablets, and other types of cannabis-based products, including sleep aids and pain relievers (the “Canntab Products”).