FSD Pharma Announces Agreement For Sale Of Cobourg Facility For C$16,500,000

Author: Bill Haddad | February 25, 2022 09:32am

FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FRA: 0K9A) ("FSD Pharma" or the "Company"), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, announced today that it has entered into a firm agreement in connection with the sale of its former cannabis processing facility (the "Facility") located in Cobourg, Ontario and the 64.43 acre property on which the facility is located (the "Transaction"). In consideration for the purchase of the Facility, the Purchaser has agreed to pay a cash sum of CAD$16,500,000, including a deposit of CAD$660,000 (the "Deposit"). The Deposit was received by the Company on February 24, 2022 and the Transaction is expected to close on May 31, 2022. If closed the injection of money will be non-dilutive to shareholders. The sale remains subject to the satisfaction of a number of conditions.

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