FSD Pharma, which launched a medicinal cannabis production facility in Cobourg, Ont., will be cancelling its cannabis licences and closing the operation next month to focus on coronavirus work.
On Thursday, the biotech/pharmaceutical company announced it has notified Health Canada of its decision to forfeit its licences. It also plans to suspend all activities within 30 days and has begun the process of liquidating all assets, including the sale of its cannabis production facility in Cobourg.
The plant is based on William Street at the former Kraft Foods plant.
Global News Peterborough reached out to the Town of Cobourg for comment. Mayor John Henderson said he has no further comment at this time regarding the company’s announcement.
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