GrahamB wrote: FSD Posts loss of millions in Saale of Coburg Facility
This is what an honest headline should have read, in my opinion
Funny, yet tragic, to read the headline that the Gong Show of the factory in Coburg is finally over.
Once again, the story is twisted to seem as if it’s some sort of successful end to some thing that is anything but.
Does anybody remember a time, when the actual value was quoted at over 400 million. The actual expenditures, exceeded over 60 million in direct costs for the build out alone, in real shareholder losses, money spent and promotion regarding securing a cannabis licence,
but much much more indirect cost in potential losses, and in the promises that this town was given for the development of the museum, thousands of jobs, and the potential real economic growth.
We often forget these types of promises that are made, result in real economic loss that could’ve been used towards actual productive activity, rather than the type of charade that has been happening here.
That there are posters here who try to promote this off of the sad end, It’s pathetic and wrong in my view
TORONTO, Nov. 28, 2018 /CNW/ - FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today that the Company’s facility and land located at 520 William Street in Cobourg, Ontario has a Fair Market Value of $105,000,000 according to a recent Comprehensive Property Value Assessment by a commercial real estate assessment specialist issued on November 20, 2018.
Due to the nature of the property, the current value assessment was conducted using the Cost Approach and incorporated property improvements of over $10,000,000 by the Company since acquisition, ongoing Joint Venture Capital Improvements by Auxly Cannabis Group Inc. (TSX.V – XLY) of over $50,000,000 and Government-Issued Licenses for the production and sale of cannabis attached to the footprint of the property. Also considered in the assessment were unique features of the site, including its classification as a special use/purpose government food-grade facility with train access directly on the property, an on-site power generating station, and substantial ongoing capital renovations under Health Canada Guidelines and Specifications.
In the opinion of the commercial real estate assessment specialist, the property as a whole at the time of completion and operation of approximately 3,000,000 square feet would have an overall property value of an estimated $420,000,000 (at an average cost of 250 dollars per square foot to build out). At full capacity, the facility is expected to produce 400 million grams of dried cannabis flower per year.
https://www.newswire.ca/news-releases/fsd-pharma-facility-valued-at-105000000-with-3000000-ft-expansion-assessed-at-420000000-701421671.html