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Quantum Biopharma Announces Intention to Complete Debt Settlements and Provides Corporate Update
Quantum BioPharma (NASDAQ:QNTM) has announced several corporate updates. Effective August 30, 2024, Donal Carroll will become CFO, Nathan Coyle will be Controller, and Jason Sawyer will be Head of Finance and M&A. The company has cancelled 32,690 options with exercise prices ranging from $84.50 to $189.15 per Class B Share. Additionally, 32,690 RSUs were grantedto certain participants, vesting after one year or upon successful implementation of the MS MAD study.
The Board has approved $450,000 bonuses for executives Anthony Durkacz, Zeeshan Saeed, and Donal Carroll. To preserve cash, these bonuses will be settled in Class B Shares at $5.44 per share, subject to CSE policies. The debt settlements are considered related party transactions but are exempt from formal valuation and minority approval requirements under MI 61-101.
The Board has approved $450,000 bonuses for executives Anthony Durkacz, Zeeshan Saeed, and Donal Carroll. To preserve cash, these bonuses will be settled in Class B Shares at $5.44 per share, subject to CSE policies. The debt settlements are considered related party transactions but are exempt from formal valuation and minority approval requirements under MI 61-101.
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