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Breaking News: FSD Pharma Signs Binding LOI to Acquire Therapix Biosciences (NASDAQ: TRPX)

4,274 views · Published 22 October 2018 · 7:22 · Indexed 10 October 2026

Channel: RICH TV SHOW · 2018 · News & Politics

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Breaking News: FSD Pharma Signs Binding LOI to Acquire Therapix Biosciences (NASDAQ: TRPX - RICH TV LIVE - October 22, 2018 - FSD Pharma Signs Binding LOI to Acquire Therapix Biosciences, a NASDAQ Traded Pharmaceutical Company Focusing on the Development of Cannabinoid-Based Treatments, to Create Medical Cannabis Industry Innovator
TORONTO
Transaction combines two highly complementary businesses; the significant production and distribution of medical and recreational products by FSD Pharma, and the premium and differentiated medical and pharmaceutical brands by Therapix Biosciences;
Brings together highly competent scientific and business leadership teams to execute upon a shared vision to deliver proprietary cannabinoid platform technologies to both professional and retail markets globally;
Transaction strategic part of FSD Pharma’s interest to pursue access to international capital markets to attract high-quality, high-profile financial and strategic investors to participate in accelerating company growth plans and establishing a strong position in cannabinoid research space;
Transaction focuses on Therapix proprietary IP and related technology and assets pertaining to all clinical stage pharmaceutical assets applications;
Therapix Biosciences shareholders to receive $48 million USD of FSD Pharma stock;
The Transaction is subject to the shareholder approval of both parties and further subject to additional pre-conditions required to be met prior to closing the Transaction no later than three months following the execution of a definitive agreement.
FSD Pharma Inc. (“FSD Pharma” or the “Company”) (CSE: HUGE) (OTCQB: FSDDF) (FRA: 0K9) announced today the signing of a binding letter of intent (the “LOI”) to acquire Therapix Biosciences Ltd. (“Therapix Biosciences” or “Therapix”) (NASDAQ: TRPX) effective October 22, 2018. The Transaction (the “Transaction”) combines two highly-complementary businesses and creates a medical cannabis industry innovator focused on the research and development of advanced cannabinoid treatments.
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