FSD Pharma Inc, (CSE:HUGE), wholly owns FV Pharma, a Canadian licensed cannabis producer under ACMPR aiming to develop the largest legal indoor cannabis facility in the world. As such, FV Pharma has acquired the former Kraft Foods (NASDAQ:KHC) production plant in Cobourg, Ontario and is converting it for cannabis cultivation with its joint venture partner, Auxly Cannabis Group (TSXV:XLY) (“Auxly”).
As part of the agreement, Auxly will design and develop all aspects of the facility in staged phases. FV Pharma’s joint venture partner will receive a 49.9 percent stream of all cannabis produced at the facility and will also participate in the company’s governance. Auxly CEO Chuck Rifici is the co-founder of Canopy Growth (TSX:WEED) and has signed on to assist FV Pharma in their burgeoning operation.
By retrofitting a former food production facility, FV Pharma is following in the footsteps of two of the world’s largest cannabis companies by market cap, Canopy Growth and Aphria (TSX:APH), which also began their work with the acquisition of Hershey’s and Heinz facilities, respectively. At over 3.8 million square feet, FV Pharma’s completed facility aims to be the largest legal indoor cultivation and processing space in the world.
Having been granted its production license in late 2017, the company is currently cultivating and in the process of obtaining the sales and provisions portion of the license and will be applying for the Dealers License. This is being done so the company will be able to engage in research and development related to the extraction of CBD rich cannabis oil for use in the production of concentrated cannabis oil extracts, infused sublingual sprays, vapes, capsules, edibles and the like. FV Pharma plans on expanding their product line beyond dried cannabis flower to also include pharmaceuticals, vaporizer cartridges, edibles and more.
FV Pharma’s experienced management team is led by CEO and president, Thomas Fairfull. As the founder of dynaCERT Inc. (TSXV:DYA), the most actively traded TSXV stock in 2016, Fairfull brings years of experience in the biotechnology and cannabis industries to the company’s helm.
Company Highlights
ACMPR licensed producer
$53,000,000 of equity capital raised to date
Plans in place to develop world’s largest legal indoor hydroponic cannabis production facility
100 percent ownership of former Kraft Foods facility measuring 32 acres, leaving 40 acres available for construction
Latest cultivation technologies to be employed at the facility
Management team with expansive knowledge in cannabis cultivation techniques
$35 million on-hand and no debt
