FSD Pharma Announces New Leadership Appointment and Board Change
Dr. Sara May has been appointed as President of FV Pharma
Vladimir Klacar departs from FSD Pharma's Board of Directors
TORONTO, March 13, 2019 /CNW/ - FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) ("FSD" or the "Company"), a licensed producer under the Cannabis Act, today announced that Sara May, Ph.D., has been appointed President of FV Pharma ("FV"), a wholly owned subsidiary of FSD Pharma, effective immediately. Dr. May replaces Thomas Fairfull, former President of FV Pharma, as Mr. Fairfull transitions out of the company.
Currently responsible for quality assurance at FV Pharma, Dr. May has over ten years of experience designing, implementing and managing large-scale research projects in the field, laboratory and greenhouse settings. Additionally, Dr. May has held numerous leadership positions within the medical cannabis industry where she oversaw project operations and implementation of quality control and quality assurance measures and standard operating procedures. Dr. May has accumulated expertise in National, International, Provincial and Regional Legislative Acts and Regulations.
We are excited to elevate Dr. May's current position to President of FV Pharma. Her significant experience managing cannabis operations has already proven a great addition to the company,
said FSD Pharma Executive Co-Chairman and CEO Dr. Raza Bokhari.
Her robust expertise has been remarkable and will support efficient advancement of the strategic objectives of FV and FSD Pharma.
Additionally, FSD Pharma announced today that following the termination of FSD Pharma's joint venture with Auxly Cannabis Group, Vladimir Klacar, Auxly nominated Director, has resigned from the Board of Directors at the request of the Company.
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 available for production at its Ontario facility with an additional 220,000 square feet currently in development (with an estimated cost of $250 per square foot to be completed in 2019).
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.
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. 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.
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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 the company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the development of the company's indoor cannabis facility and its business goals and objectives. The forward-looking information contained in this press release is made as of the date hereof, and the company 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.