The license is required for any facility that is processing more than the equivalent of 600kg of dried flowers per year, per Health Canada’s new cannabis act regulations.
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Dr Raza Bokhari, FSD’s interim CEO, said the processing license would bring its subsidiary closer to applying for a pre-sale inspection as well as a sales license.
“Receiving the processing license allows the company to begin packaging cannabis for inspection by Health Canada,” said Bokhari, in a statement. “With the pre-sale inspection just around the corner, we anticipate receiving our sales license and begin generating a revenue stream.”
Based in Toronto, FSD Pharma focuses on the development of indoor grown, pharmaceutical-grade cannabis and the development of cannabinoid-based treatments for central nervous system disorders such as chronic pain and irritable bowel syndrome.
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