TORONTO, July 3, 2018 /CNW/ – PRESS RELEASE – FSD Pharma Inc. (CSE:HUGE) has provided an update on the progress of the joint venture between its wholly-owned subsidiary, FV Pharma Inc. and Auxly Cannabis Group Inc.
The first phase of the build-out of the FV Pharma facility in Cobourg, Ontario has been approved in an updated construction and development budget provided by Auxly. Of the current 620,000 square feet of building space available, 220,000 square feet will be developed and fully funded. As part of this project, Auxly will contribute $55,000,000 to build out the Facility.
The 220,000 square feet of cultivation and ancillary space will include a research and development lab focused on advancements in LED lighting, nutrient testing, breeding and genetics research. The first phase will also contain a dedicated space for large-scale extraction capabilities. The company expects first phase construction to be completed and ready for Health