Raza Bokhari, Executive Co-Chairman of the Board and CEO of FSD Pharma (CSE:HUGE) was featured in a sponsored interview published by Midas Letter. In the interview, Raza talks about the strategic stock consolidation that host James West says, “seems to have been done with a specific objective in mind.” Raza says the company presents, “a huge opportunity for us and our shareholders in this eco system that is groundbreaking.”
Raza also cited the need for uplisting and stock consolidation to attract “institutional-grade investment.”
FSD Pharma announced a share consolidation on October 11, 2019. According to the press release:
Effective October 16, 2019, with a record date of October 17, 2019, the Company expects to begin trading the Class B Shares on the Canadian Securities Exchange on a post-Consolidation basis under its existing name and ticker symbol. The new CUSIP and ISIN for the Class B Shares are 35954B206 and CA35954B2066, respectively.
The Company currently has 1,582,966,252 Class B Shares outstanding and the Consolidation will reduce the issued and outstanding Class B Shares to approximately 7,874,809 Class B Shares. The Consolidation was approved by FSD shareholders at the Company’s special meeting held on January 22, 2019, and will allow the Company to continue to pursue the listing of the Class B Shares on a major U.S. exchange.