FSD Pharma signs MOU to supply Sask. market with pot
FSD PHARMA ENTERS INTO SASKATCHEWAN WHOLESALE SUPPLY MOU OF UP TO 5,000 KILOGRAMS WITH HIGH TIDE VENTURES
FSD Pharma Inc.'s wholly owned subsidiary, FV Pharma Inc., has entered into a non-binding memorandum of understanding (MOU) with High Tide Ventures Inc. dated July 18, 2018, to supply the Saskatchewan market on a wholesale basis with up to 5,000 kilograms of cannabis products over the next year when available. FSD Pharma is working together with Auxly (formerly Cannabis Wheaton Income Corp.) to achieve its mission to develop the largest hydroponic indoor cannabis cultivation facility in Cobourg, Ontario, Canada.
High Tide is in the process of becoming a licensed wholesaler of cannabis products in the province of Saskatchewan. Thomas Fairfull, President and CEO of FSD Pharma, stated,
This non-binding MOU is the result of FSD Pharma's focus on growing high quality indoor hydroponic cannabis, which I expect will yield more opportunities to build on our relationship in the near future." Raj Grover, President & Chief Executive Officer of High Tide, added, "High Tide has achieved an important strategic milestone by securing its first wholesale business partner for Saskatchewan and its 51 retail cannabis outlets. It is very important to us to be able to provide the highest quality of indoor grown cannabis. We want to ensure that High Tide is able to offer consumers a variety of options that they actually enjoy
High Tide is focused on becoming a strong downstream player in the legal recreational cannabis industry in Canada. Through its subsidiaries, High Tide has also applied for over 30 retail cannabis licenses and associated development permits in Alberta, with applications in British Columbia expected to be submitted shortly.
About FSD Pharma Inc. (CSE:HUGE) (OTC:FSDDF)
FSD Pharma, owns, through its wholly-owned subsidiary FV Pharma Inc., a license to produce marijuana under the Access to Cannabis for Medical Purposes Regulations (ACMPR) which was originally granted on October 13, 2017. Headquartered at the former Kraft plant in Cobourg, Ontario, approximately an hour's drive from Toronto, FSD Pharma's management's mission is to transform the facility into the largest hydroponic indoor cannabis facility in the world. FSD Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts and research and development. Please visit www.fsdpharma.com for more information.
About FV Pharma
FV Pharma is a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR), having received its cultivation license on October 13, 2017. Headquartered at the former Kraft plant in Cobourg, Ontario, approximately an hour's drive from Toronto, FV Pharma management's mission is to transform the facility into the largest hydroponic indoor cannabis facility in the world. FV Pharma intends to target all legal aspects of the cannabis industry, including cultivation, processing, manufacturing, extracts and research and development. For more information about FV Pharma, please visit www.fvpharma.com.
