TORONTO, May 25, 2018 (GLOBE NEWSWIRE) -- Xorax Family Trust ("Xorax") acquired 5,000 Class A multiple voting shares (the "Acquired Shares") (the "Class A Multiple Voting Shares") of FSD Pharma Inc. (formerly, Century Financial Capital Group Inc.) (the "Issuer"). The Acquired Shares represent 33.33% of the issued and outstanding Class A Multiple Voting Shares of the Issuer.
On May 24, 2018, the Issuer completed its acquisition of 100% of the issued and outstanding securities of FV Pharma Inc. ("FV Pharma") by way of a "three-cornered" statutory amalgamation of FV Pharma and a wholly-owned subsidiary of the Issuer (the "Acquisition").
In connection with the closing of the Acquisition, the Issuer issued 15,000 Class A Multiple Voting Shares to the former holders of FV Pharma Class A voting shares.
Following completion of the Acquisition, Xorax has control over 5,000 Class A Multiple Voting Shares of the Issuer, representing 33.33% of all the issued and outstanding Class A Multiple Voting Share of the Issuer.
The acquisition of the Acquired Shares by Xorax was made for investment purposes. Xorax may from time to time dispose of, or acquire, additional securities of the Issuer as circumstances warrant.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear at www.sedar.com.
Contact Information:
Xorax Family Trust
rehansk@gmail.com