FSD Pharma Inc. (“FSD Pharma” or “FSD”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) in response to Therapix Biosciences’ termination of the company’s binding letter of intent (LOI) to be acquired by FSD Pharma, Dr. Raza Bokhari, Executive Co-Chairman of the Board of FSD Pharma, released the following statement:“While we are disappointed that Therapix Biosciences has given notice to terminate, we determined through the course of our negotiations and due diligence that a reset of some of the terms was in our shareholders’ best interests. FSD Pharma remains very interested in synthetic cannabinoid platforms and will continue to pursue accretive opportunities in this area.”
Bokhari added, “It is important to note that our efforts to gain full US exchange listing are advancing as planned. We are also in active and positive conversations with potential strategic and investment partners across the globe”.
On October 22, FSD Pharma announced the signing of the binding LOI to acquire Therapix Biosciences as part of the company’s strategic objective to develop pharmaceutical assets in the cannabinoid research space.