The temporary change is protocol for stocks that trade on US exchanges that undergo structural events, such as the recent share consolidation of one new share for each 201 old shares, announced by FSD Pharma on October 11th, in order to advance the company's strategic plan to increase visibility among U.S. investors and list on a major U.S. exchange.
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I’m Cassandra Bolinski for Investmentpitch Media
FSD Pharma Inc. announced that its Class B shares, which trade on the OTCQB, will have a new symbol FSDDD for a period of 20 business days until November 13th, at which time the symbol will revert back to FSDDF.
The temporary change is protocol for stocks that trade on US exchanges that undergo structural events, such as the recent share consolidation of one new share for each 201 old shares, announced by FSD Pharma on October 11th, in order to advance the company's strategic plan to increase visibility among U.S. investors and list on a major U.S. exchange.
The company recently announced the appointment of former U.S. congressman Stephen Buyer to its Board of Directors.
Stephen Buyer was a member of the U.S. House of Representatives, serving nine consecutive terms from January 1993 to January 2011.
During Congressman Buyer’s long tenure in the Congress, he served on the Committees on Veterans Affairs, Armed Services, Judiciary, Energy and Commerce Committees and also served on the Military Compensation and Retirement Modernization Commission.
Stephen Buyer stated: "I'm pleased to be joining the FSD Pharma Board of Directors. The opportunity to participate in FSD's growth at this stage is exciting. Unfortunately, auto immune diseases have clustered in my wife’s family. I am attracted by FSD’s medical research to tame and define the unknown by challenging the edges of medical science to provide relief to people suffering from fibromyalgia and other serious illnesses.”
Raza Bokhari, MD, Executive Co-Chairman and CEO, stated: “In welcoming Steve Buyer to the FSD Pharma Board of Directors and announcing a share consolidation, the Company has made an immense positive stride forward. Steve’s addition has further strengthened the independence and profile of the FSD Pharma Board of Directors; his broad leadership experience and pharmaceutical industry relationships will help enhance our visibility, especially among U.S. Institutional investors and on U.S. Capitol Hill. The share consolidation or reverse split of our stock is timed to advance our strategic plan to raise the profile of our company in the U.S. capital markets, which includes listing on a major U.S. stock exchange in the near future”
FSD Pharma is focused on the research and development of novel cannabinoid-based treatments for several central nervous system disorders including chronic pain, fibromyalgia and irritable bowel syndrome, and on the development of the highest quality indoor grown, pharmaceutical-grade cannabis.
FSD Pharma has 25,000 square feet licensed to cultivate cannabis at its Cobourg, Ontario facility, the former Kraft plant, which sits on 70 acres of land with 40 acres primed for development, and an expansion capability of up to 3.9 million 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 and its Sale for Medical Purposes license on June 21, 2019.
FV Pharma intends to cover all aspects of the cannabis industry, including cultivation, legal, processing, manufacturing, extracts and research and development.
FSD Pharma’s shares are trading at $7.30.
For more information, please visit the company’s website, www.FSDpharma.com, or contact Zeeshan Saeed, President and Co-Founder at 416-854-8884 or email zeeshan@FSDpharma.com.
For investor relations in Canada email IR@FSDpharma.com.
In the United States, contact Miriam Weber Miller of LHA Investor Relations, who can be reached at 212-838-3777 or by email at MMiller@lhai.com.
I’m Cassandra Bolinski for Investmentpitch Media
