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Cannabis company FSD Pharma subsidiary FV Pharma names Sara May as president

Currently responsible for quality assurance at FV Pharma, May has more than 10 years of experience designing, implementing and managing large-scale research projects

A marijuana plant
FV Pharma is a licensed producer under Canada’s Cannabis Act and Regulations

FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) said Wednesday that Sara May is being promoted to president of a wholly owned subsidiary, FV Pharma.

Currently responsible for quality assurance at FV Pharma, she has more than 10 years of experience designing, implementing and managing large-scale research projects in the field, lab and greenhouse settings, FSD Pharma said.

Holding a Ph.D., she has worked in numerous leadership roles within the medical cannabis industry, the company said. She has overseen project operations and implementation of quality-control and quality-assurance measures, according to FSD Pharma, adding that May has expertise in national, international, provincial and regional regulation.

READ: FSD Pharma subsidiary wins standard processing license

“We are excited to elevate Dr May’s current position to president of FV Pharma,” FSD Pharma Executive Co-Chairman and CEO Dr Raza Bokhari said in a statement. “Her significant experience managing cannabis operations has already proven a great addition to the company.”

May is replacing Thomas Fairfull, who is preparing to leave the company.

Separately, FSD Pharma announced that after the termination of FSD Pharma’s joint venture with Auxly Cannabis Group (CVE:XLY) (OTCMKTS:CBWTF), Vladimir Klacar, the Auxly-nominated director, has resigned from the board.

Licensed producer

FV Pharma is a licensed producer under Canada’s Cannabis Act and Regulations, having received its cultivation license in October 2017. The subsidiary plans to transform a former Kraft plant in Cobourg, Ontario, into the world’s largest hydroponic indoor grow facility.

Its parent company has 25,000 square feet available for production at its Ontario facility, with an additional 220,000 square feet in development for an estimated cost of $250 per square foot. That addition is expected to be completed in 2019.

Shares of FSD Pharma slipped C$0.01 to C$0.20 in Wednesday's Canadian trading. They were down US$0.01 to US$0.16 on the OTC Markets.

–This story has been updated to give the latest stock prices–

Contact Dennis Fitzgerald at [email protected]

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