FSD Pharma Inc. (NASDAQ: HUGE) entered into an agreement with Tekkfund Capital Corp to structure and assist “with certain business development strategies.”
During the duration of this agreement, the company will pay Tekkfund a monthly fee of around CA$12,500 ($9696,75) as well as monthly issuance of 7,000 Class B subordinate voting shares. The initial duration of the agreement will be 24 months.
In addition, on March 9 FSD Pharma issued Crystal Research Associates 30,000 Class B subordinate voting shares at the closing market price. The issuance was in consideration for the preparation of a research report conducted by Crystal.
Earlier this year the company announced the selling of a cannabis facility for almost $13 million and is currently developing psychedelic-based medicines, such as Lucid-Psych, a proprietary molecule in preclinical stages designed to treat depression.
Photo: Courtesy of Cytonn Photography on Unsplash
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