NEWS: FP Says FSD Pharma Anxiously Waiting for Licence The Financial Post reports in its Saturday, Oct. 27, edition that the cannabis industry is still reeling from sky-high demand in the second week of legalization with growers expressing frustration at the length of time it is taking to get licensed as shelves sit empty.
A Bloomberg dispatch to the Post reports that FSD Pharma director Anthony Durkacz says, "We're biting our nails and I think our shareholders are biting their nails, too." FSD Pharma is an Ontario-based producer that received its cultivation licence a year ago and is still waiting for its sales licence. Mr. Durkacz says, "We want to be supplying." The process of getting a sales licence from Health Canada is onerous, according to Mr. Durkacz. He says after receiving a cultivation licence, a grower must produce two full crops, send them off for testing, get its sales software audited, and then submit a completed application for the sales licence, which can take up to 341 days to process. "So even after you've done everything and done everything right you could be waiting up to a year to get the licence," he says. While some growers wait for their licences, others are struggling to keep up with demand.
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