Defaulter wrote: CSE: HUGE
OTC: FSDDF
FRA: 0K9
TORONTO, Aug. 30, 2018 /PRNewswire/ - FSD Pharma Inc. ("FSD Pharma" or the "Company") (CSE: HUGE) (OTC: FSDDF) reported its financial and operational results for the second quarter of fiscal 2018, ended June 30th, 2018. These filings are available for review on the Company's SEDAR profile at www.sedar.com.
Highlights of The Company:
- Completion of 25,000 square feet solely owned by FSD Pharma
- Construction underway of the Auxly partnership Phase 1 approx. 220,000 Sq Ft expansion at Cobourg, Ontario, with a total budget of $55,000,000
- Construction of Phase 1, approx. 105,000 Sq FT by Cannara partnership at the facility close to Montreal, Quebec underway
- The first cannabis crop has been harvested and tested which is an essential step in the granting of a sales license
- Strong Cash position at June 30, 2018 with $31.7 Million Cash and even more in liquid assets
- No Debt
The construction in Coburg, Ontario remains on schedule with cultivation expected to commence in the first half of 2019. The Company maintained a strong balance sheet with cash of $31,700,000, no debt, significant assets and continues to execute on management's vision of becoming the largest indoor grow facility in the world with total grow capacity, once completed, in excess of 3,000,000 square feet. With an expected annual output of 400,000,000 grams of which FSD Pharma would benefit 200,000,000 grams.
BlueSkiesAhead wrote: I’m new to the board here but have had my eye on HUGE for a while. Currently HUGE has 25K square feet of cultivation space but the additional 220,000 square feet is supposed to be operational by the end of this year. Has it been stated what they believe their annual yield in KGs is once this space is operational by years end?
thanks in advance and GLTA
Cheers,
BSA