FSD Pharma strengthens expertise to explore insurance coverage for medical cannabis in Canada

FSD Pharma Inc (CSE:HUGE) (OTCMKTS:FSDDF) announced it had signed an agreement to explore insurance coverage for medical cannabis throughout Canada.

The licensed producer of pharmaceutical-grade cannabis is contracting the services of Joseph L. Romano, a lawyer with a strong track record in personal injury law.

Romano has been working for nearly 13 years to assist people coping with chronic pain to have access to medical cannabis.

READ: Cannabis company FSD Pharma subsidiary FV Pharma names Sara May as president

As part of the consulting agreement, Romano will add strategic insight on the inner workings of third-party actions, WSIB claim handling, first-party coverage and no-fault benefits across Canada. Additionally, he will assist in identifying strategic acquisitions for FSD Pharma.

“We are very excited to engage Mr. Romano in advance of our anticipated sales license,” said Dr. Raza Bokhari, executive co-chairman and interim CEO at FSD Pharma. “This is a very timely and important agreement for FSD Pharma to maximize the opportunities in the Canadian market for our products and fits well with our strategy of establishing the company as a leader in medical cannabis.”

FSD Pharma grows medical-grade cannabis at its 25,000 square foot facility in Ontario, with an additional 220,000 expected to be added by the end of 2019.

Shares of FSD Pharma were trading at C$0.23 in Canada and US$0.17 in the US before market open on Thursday.

Contact Angela at [email protected]

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Story by ProactiveInvestors