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FSD Pharma wins standard processing license

The processing license will bring FSD's subsidiary FV Pharma Inc a step closer to securing a sales license

cannabis cultivation facility
FSD focuses on the development of indoor grown, pharmaceutical-grade cannabis

FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) announced Tuesday that its subsidiary FV Pharma Inc, a licensed Canadian cannabis producer, has received its standard processing license.

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.

READ: FSD Pharma and Canntab Therapeutics forge pact with World Class Extractions to strike hemp deal

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.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Price: 3.64 CAD

CSE:HUGE
Market: CSE
Market Cap: $53.59 m
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