TORONTO, Sept. 13, 2018 /PRNewswire/ - FSD Pharma Inc. ("FSD" or the "Company") (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9) is pleased to announce that it intends to launch a strategic partnership into the Jamaican cannabis market as part of its plan to expand internationally. FSD has signed a Letter of Intent ("LOI") effective September 10, 2018 with JJAMACANN Inc. ("JJAMACANN") to form a joint venture operating as FSD Jamaica ("FSD Jamaica"). FSD Jamaica expects to partner locally with Nature's Purest Limited ("NPL"), a Jamaican corporation with a cultivation license and existing operations in Jamaica.
"We are excited to be working with a world-class and knowledgeable team of local experts and entrepreneurs with extensive cannabis cultivation experience. Jamaica has historically produced some of the best cannabis over the past 50 years. FSD Jamaica intends to take advantage of the ideal climate and soil conditions on the NPL property and surrounding area to produce the highest quality cannabis, hemp and cannabinoid products possible. FSD Jamaica is well-positioned to bring Jamaican branded, world class medical and recreational products to market by 2019," said Anthony Durkacz, Director of FSD.
As part of the LOI, FSD Jamaica will establish an experimental centre for the development of cannabis and cannabinoid ("CBD") genetics suitable to cultivate in Jamaica with the intent to create a genetics and seed bank of innovative cannabis and hemp products for the Jamaican market and the Canadian market where permitted.
"NPL was the second company to be granted a cultivation license in Jamaica. It is located in the beautiful mountains of Ulster Springs Trelawny and the property is fed by crystal clear spring water surrounded by many agricultural crops and experienced workers. The combined genetics library of FSD Jamaica and NPL will allow for the breeding of high THC & CBD plants that will be cultivated using medical grade extraction processes. This strategic partnership compliments FSD's business model of producing the highest quality medical grade product at scale," continued Mr. Durkacz.
About FSD Pharma (CSE: HUGE) (OTC: FSDDF) (FRA: 0K9)
FSD Pharma through its wholly-owned subsidiary FV Pharma, is a licensed producer of marijuana 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.
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 Corporation'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 Corporation'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 Corporation 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.
Neither the Canadian Securities Exchange nor its regulation services provider accept responsibility for the adequacy or accuracy of this release.
SOURCE FSD Pharma Inc.