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FSD Pharma picks up 12.25% stake in cannabis cultivator Cannara Biotech

FSD Pharma Inc. acquired about 12.25% stake in Canadian cannabis cultivator Cannara Biotech Inc.

Cannara Biotech was formed following the merger of the company with Dunbar Capital Corp. and 11038427 Canada Inc.

Canadian cannabis company FSD now owns 85,003,750 common shares of Cannara and may increase or decrease its ownership, subject to the terms of an escrow arrangement.

Cannara, which completed the acquisition of Dunbar on Dec. 31, 2018, said its common shares began trading on the Canadian Securities Exchange on Jan. 14 under the symbol LOVE.