FSD Pharma Signs LOI to Establish Joint Venture with World-Class Extractions to Deploy Full Extraction Processing Center
Retrieved on:
Wednesday, September 25, 2019
Following execution of the LOI, FSD Pharma and World-Class will each hold a fifty (50%) interest in the Joint Venture.
Key Points:
- Following execution of the LOI, FSD Pharma and World-Class will each hold a fifty (50%) interest in the Joint Venture.
- World-Class Extractions, through Soma Labs Scientific, will provide the Joint Venture with all of the extraction and processing equipment required, assuming all direct costs.
- Additional provisions under the Joint Venture once established:
World-Class is entitled to nominate 2 of the 5 directors of the Joint Venture. - Using FV Pharmas processing license, the Joint Venture can begin processing once the Boss Extraction Systems are installed and our agreement is finalized.