TORONTO, September 13, 2018 /CNW/ – PRESS RELEASE – FSD Pharma Inc.has announced that it intends to launch a strategic partnership into the Jamaican cannabis market as part of its plan to expand internationally. FSD has signed a Letter of Intent (LOI) effective Sept. 10, 2018 with JJAMACANN Inc. to form a joint venture operating as FSD Jamaica. FSD Jamaica expects to partner locally with Nature’s Purest Limited (NPL), a Jamaican corporation with a cultivation license and existing operations in Jamaica.
“We are excited to be working with a world-class and knowledgeable team of local experts and entrepreneurs with extensive cannabis cultivation experience. Jamaica has historically produced some of the best cannabis over the past 50 years. FSD Jamaica intends to take advantage of the ideal climate and soil conditions on the NPL property and surrounding area to produce the highest quality cannabis, hemp and cannabinoid products possible. FSD Jamaica is well-positioned to bring Jamaican branded, world class medical and recreational products to market by 2019,” said Anthony Durkacz, director of FSD.
As part of the LOI, FSD Jamaica will establish an experimental center for the development of cannabis and cannabinoid (CBD) genetics suitable to cultivate in Jamaica with the intent to create a genetics and seed bank of innovative cannabis and hemp products for the Jamaican market and the Canadian market where permitted.
“NPL was the second company to be granted a cultivation license in Jamaica. It is located in the beautiful mountains of Ulster Springs Trelawny and the property is fed by crystal clear spring water surrounded by many agricultural crops and experienced workers. The combined genetics library of FSD Jamaica and NPL will allow for the breeding of high THC and CBD plants that will be cultivated using medical grade extraction processes. This strategic partnership compliments FSD’s business model of producing the highest quality medical grade product at scale,” continued Durkacz.