Quantum Biopharma Announces Intention to Complete Debt Settlements and Provides Corporate Update
Quantum Biopharma Announces Intention to Complete Debt Settlements and Provides Corporate Update
TORONTO, ON / ACCESSWIRE / August 23, 2024 / Quantum BioPharma Ltd. (formerly, FSD Pharma Inc.) (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91) ("Quantum BioPharma" or the "Company"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, is pleased to announce the following corporate updates.
多倫多,安大略/ ACCESSWIRE/2024年8月23日/量子生物製藥有限公司(原名FSD Pharma Inc.)(納斯達克:QNTM)(CSE:QNTM)(FRA:0K91)("量子生物製藥"或"公司"), 一家致力於構建創新資產和生物技術解決方案組合的生物製藥公司, 高興地宣佈以下公司更新。
Changes in Management
管理變動
Effective August 30, 2024, Donal Carroll will assume the role of Chief Financial Officer and Nathan Coyle will assume the role of Controller. In addition, the Company has appointed Jason Sawyer as the Head of Finance and Mergers and Acquisitions for the Company.
自2024年8月30日起,唐納爾·卡羅爾將擔任首席財務官,納森·科爾將擔任財務主管。此外,公司任命傑森·索耶爲公司財務和併購主管。
Option Cancellation
期權取消
Effective today, the Company has cancelled an aggregate of 32,690 options ("Options") to purchase class B subordinate voting shares in the capital of the Company ("Class B Shares"), which were previously granted to board members, advisory board members, employees, advisors and consultants of the Company (each a "Participant"). Management reviewed the Company's outstanding Options and determined that certain Options granted to such Participants under the Company's equity incentive plan (the "Equity Incentive Plan"), at exercise prices ranging from $84.50 to $189.15 per Class B Share, no longer represented a realistic incentive to motivate such Participants.
公司今日起取消了總共32,690個期權("期權"),用以購買公司資本中的B類有投票權普通股("B類股"), 這些期權曾授予公司董事會成員、諮詢董事會成員、公司員工、顧問以及諮詢師(每位"參與者"). 管理層審查了公司未激勵計劃(Equity Incentive Plan)下的未行使期權,並確定授予給這些參與者的特定期權,行權價格介於84.50美元至189.15美元,已不再代表鼓勵這些參與者的現實激勵。
RSU Grant
RSU授予
The Company also announces the grant of restricted share units (each, an "RSU") pursuant to the Equity Incentive Plan. The Company granted an aggregate of 32,690 RSUs to certain Participants. Each RSU granted vests the earlier of: (i) one year; and (ii) the successful implementation of the MS MAD study conducted by Ingenu of Australia, subject to acceleration in the event of a takeover bid or change of control.
公司還宣佈根據激勵股權計劃授予限制性股票單位(RSU). 公司總共授予32,690個RSU給特定參與者. 每個授予的RSU給予以下方提前實施的權利: (i) 一年; 和 (ii) 澳洲Ingenu公司進行的MS MAD研究的成功實施,但在發生收購買盤或控制權變更時可以加速實施。
All of the RSUs (and any Class B Shares issuable upon their settlement) are subject to a four month and one day hold period pursuant to the policies of the Canadian Securities Exchange (the "CSE") and applicable securities laws.
所有的RSU(及其結算後可發行的B類股)將受加拿大證券交易所的政策和適用證券法規的持有期限限制爲四個月一天。
Debt Settlement
債務結算
The Company also announces that the board of directors of the Company (the "Board") authorized and approved bonuses (together, the "Management Bonuses") in the amount of $450,000 to each of Anthony Durkacz, Zeeshan Saeed and Donal Carroll, officers of the Company, (together, the "Executives") pursuant to the terms and conditions of certain executive agreements entered into between the Company and each of the Executives (together, the "Executive Agreements"). Pursuant to the terms and conditions of the respective Executive Agreements, each Executive is entitled to certain annual bonuses, based on the Executive and Company meeting certain performance milestones, calculated on the basis of 70% of the respective Executive's base salary for the second year of employment and 80% of the respective Executive's base salary for the third year of employment, which equates to a bonus payment of $210,000 and $240,000, respectively, for each Executive for each year of service (each, a "Bonus Payment").
公司還宣佈,公司董事會(以下簡稱「董事會」)已授權並批准向公司職員Anthony Durkacz、Zeeshan Saeed和Donal Carroll(以下簡稱「高管」)支付獎金(合稱「管理獎金」) ,每人金額爲45萬美元,根據公司與每位高管簽訂的特定高管協議的條款和條件(合稱「高管協議」)。根據各自高管協議的條款和條件,每位高管有權享受一定的年度獎金,基於高管和公司達成一定的績效里程碑,根據第二年僱傭期的各自高管基本工資的70%和第三年僱傭期的各自高管基本工資的80%進行計算,每位高管每年的服務將分別獲得21萬美元和24萬美元的獎金(每位高管,稱爲「獎金支付」)
Subject to compliance with CSE policies, the Company and Executives have determined that to preserve the Company's cash, they intend to settle the Bonus Payments into Class B Shares at a deemed price of $5.44 per Class B Share (together, the "Debt Settlements"). The Common Shares would be subject to a four month and one day hold period pursuant to the polices of the CSE and applicable securities laws.
在遵守CSE政策的前提下,公司和高管決定爲了保護公司的現金,他們打算以每股5.44美元的價格以b類股份結算獎金支付(合稱「債務結算」)。根據CSE和適用的證券法規的規定,普通股將受到爲期四個月加一天的持有期限限制。
The Company intends to complete the Debt Settlements in or around the first week of September 2024, and will disseminate a subsequent press release once completed.
公司打算在2024年9月的第一週或前後完成債務結算,並在完成後發佈下一份新聞稿。
Related Party Transaction
相關方交易
Each Debt Settlement constitutes a "related party transaction", as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101") due to the involvement of each of the Executives, who are officers of the Company, and would require the Company to receive minority shareholder approval for, and obtain a formal valuation for the subject matter of, the transaction in accordance with MI 61-101, prior to the completion of each such transaction. In its consideration and approval of the Debt Settlements, the Board determined that each Debt Settlement was exempt from formal valuation and minority approval requirements of MI 61-101. The Company intends to rely on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of the participation of the Executives in the Debt Settlements as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the Executives, exceeds 25% of the Company's market capitalization (as determined under MI 61-101).
每筆債務結算都構成「關聯方交易」,根據《多方協議61-101 - 少數股東保護特殊交易》(以下簡稱「MI 61-101」)的定義,由於涉及高管公司職員,公司需獲得少數股東批准並獲得交易標的的正式估值,方可完成每項交易。在考慮和批准債務結算時,董事會確定每筆債務結算可豁免MI 61-101的正式估值和少數股東批准要求。公司打算依據MI 61-101第5.5(a)和5.7(1)(a)條的豁免規定,分別就高管參與債務結算事宜的交易標的(根據MI 61-101確定)的公允市值和交易的對價的公允市值是否超過公司的市值(根據MI 61-101確定)的25%進行判斷。
About Quantum BioPharma
關於Quantum BioPharma Quantum BioPharma是一家專注於構建創新資產和生物技術解決方案的生物製藥公司,用於治療具有挑戰性的神經退行性和代謝性疾病以及酒精濫用疾病,並且具有處於不同開發階段的候選藥物。通過其全資子公司Lucid Psycheceuticals Inc.(「Lucid」),Quantum BioPharma專注於其主導化合物Lucid-MS(以前稱爲Lucid-21-302)(「Lucid-MS」)的研究和開發。 Lucid-MS是一種已獲得專利的新化合物,在臨床前模型中顯示可以預防和逆轉髓鞘降解,這是多發性硬化的基本機制。 Quantum BioPharma發明了unbuzzd,並將其OTC版本轉讓給一家由行業資深人士領導的公司Celly Nutrition Corp.(「Celly Nutrition」)。 Quantum BioPharma目前持有Celly Nutrition 25.71%的股權(截至2024年3月31日)。與Celly Nutrition的協議還包括unbuzzd銷售額的7%版稅支付,直到向Quantum BioPharma支付了2.5億美元爲止。達到2.5億美元后,版稅將永久下降到3%。此外,Quantum BioPharma持有大約1.3億加元的巨額稅務虧損轉嫁額,有望在未來用於抵消適用於未來利潤的稅務應付義務。Quantum BioPharma保留產品類似或供藥品和醫療用途的另類配方的100%權利。Quantum BioPharma通過其全資子公司FSD Strategic Investments Inc.保持一系列戰略投資,這代表了以住宅或商業物業擔保的貸款。
Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("Lucid"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302) ("Lucid-MS"). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd and spun it out its OTC version to a company, Celly Nutrition Corp. ("Celly Nutrition"), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of March 31, 2024) of Celly Nutrition at . The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Additionally, Quantum BioPharma retains a large tax loss carry forward of approximately C$130 million and could be utilized in the future to offset tax payable obligations against future profits. Quantum BioPharma retains 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.
本新聞稿包含特定的"前瞻性陳述",依適用的加拿大證券法。任何表示或涉及預測、期望、信念、計劃、投射、目標、假設或未來事件或業績(經常但不總是通過"相信"、"預料"、"期望"、"預計"、"計劃"、"估計"、"等待"、"打算"、"計劃"、"預測"、"目標"或"期望"、"希望"的詞語或短語來識別)都不是歷史事實的陳述,可能是前瞻性陳述。此處包含的前瞻性信息和前瞻性陳述包括但不限於以下聲明:Donal Carroll擔任首席財務官,Nathan Coyle擔任控制器,Jason Sawyer擔任公司融資與併購主管的職務;公司打算完成債務結算及其時間安排;公司打算依賴於MI 61-101中規定的豁免權;成功實施MS MAD研究;公司專注於研發Lucid-MS以預防和逆轉髓鞘降解;公司打算利用其大額稅務虧損來抵消未來應付稅款義務;公司打算保留100%的權利開發用於藥品和醫療用途的類似產品或其他配方;公司打算通過FSD Strategic Investments Inc.保持一系列戰略投資。
Forward Looking Information
前瞻性信息
This press release contains certain "forward-looking statements" within the meaning of applicable Canadian securities law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: Donal Carroll assuming the role of Chief Financial Officer, Nathan Coyle assuming the role of Controller and Jason Sawyer assuming the role of Head of Finance and Mergers and Acquisitions for the Company; the Company's intention to complete the Debt Settlements and the timing thereof; the Company's intention to rely on the exemptions set out in MI 61-101; the successful implementation of the MS MAD study; the Company's focus on the research and development of Lucid-MS to prevent and reverse myelin degradation; the Company's intention to utilize its large tax loss to offset future tax payable obligations against future profits; the Company's intention to retain 100% of the rights to develop products for pharmaceutical and medical uses; and the Company's intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.
本新聞稿包含特定的"前瞻性陳述",依適用的加拿大證券法。任何表示或涉及預測、期望、信念、計劃、投射、目標、假設或未來事件或業績(經常但不總是通過"相信"、"預料"、"期望"、"預計"、"計劃"、"估計"、"等待"、"打算"、"計劃"、"預測"、"目標"或"期望"、"希望"的詞語或短語來識別)都不是歷史事實的陳述,可能是前瞻性陳述。此處包含的前瞻性信息和前瞻性陳述包括但不限於以下聲明:Donal Carroll擔任首席財務官,Nathan Coyle擔任控制器,Jason Sawyer擔任公司融資與併購主管的職務;公司打算完成債務結算及其時間安排;公司打算依賴於MI 61-101中規定的豁免權;成功實施MS MAD研究;公司專注於研發Lucid-MS以預防和逆轉髓鞘降解;公司打算利用其大額稅務虧損來抵消未來應付稅款義務;公司打算保留100%的權利開發用於藥品和醫療用途的類似產品或其他配方;公司打算通過FSD Strategic Investments Inc.保持一系列戰略投資。
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company will complete the Debt Settlements on the timelines indicated herein; the Company will be able to rely on the exemptions set out in MI 61-101; Donal Carroll will assume the role of Chief Financial Officer, Nathan Coyle will assume the role of Controller and Jason Sawyer will assume the role of Head of Finance and Mergers and Acquisitions for the Company; the MS MAD study will be successfully implemented; the Company's assessment of market conditions, its ability to gain market share, and its potential competitive edge are accurate; the Company will have the ability to carry out its plans with respect to its new innovation and offerings, including its ability to conduct research and development of Lucid-MS; the Company will retain 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses; the Company will seek new business opportunities; the Company will increase efficiency in its processes and partnerships; and the Company will have the ability to carry out its other goals and objectives.
該新聞稿中的前瞻性信息是基於某些假設和預期的未來事件,即:公司將按照此處所示的時間表完成債務支付;公司將能夠依賴於MI 61-101中提供的豁免規定;Donal Carroll將擔任首席財務官的職務,Nathan Coyle將擔任電機控制器的職務,Jason Sawyer將擔任公司的財務與併購部門的負責人的職務;MS MAD研究將成功實施;公司對市場情況的評估、獲取市場份額的能力以及其潛在的競爭優勢是準確的;公司將能夠根據其新的創新和產品提供的計劃,包括進行Lucid-MS的研發;公司將保留100%的權利來開發具有醫藥和醫療用途的相似產品或替代配方;公司將尋求新的業務機會;公司將提高其流程和合作夥伴關係的效率;公司將能夠實現其其他目標和計劃。
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: risk that any of Donal Carroll, Nathan Coyle and/or Jason Sawyer will not assume their new roles; risk that the MS MAD study will be not be implemented; the Company's inability to complete the Debt Settlements on the timelines set out herein or at all; the Company's inability to rely on the exemptions set out in MI 61-101, in respect of the participation of the Executives in their respective Debt Settlements; the Company's inability to carry out its plans with respect to its new innovation and offerings; the Company's inability to utilize its tax loss; the Company's inability to retain 100% of the rights to develop products for pharmaceutical or medical uses; and the Company's inability to enhance its product development capabilities and/or maintain a portfolio of strategic investments; and the risks discussed in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2023, final short form base shelf prospectus dated December 22, 2023 and registration statement on Form F-3 containing a base shelf prospectus, each under the heading "Risk Factors". These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
這些陳述涉及已知和未知的風險、不確定性和其他因素,可能導致實際結果、績效或成就與此類陳述所暗示的結果有實質性差異,包括但不限於:Donal Carroll、Nathan Coyle和/或Jason Sawyer無法承擔其新職責的風險,MS MAD研究無法實施的風險;公司不能按照此處所示的時間表,或根本不能完成債務支付;公司無法依賴於MI 61-101中規定的豁免規定,以便高管在各自的債務支付中參與;公司無法按照其新的創新和產品提供計劃進行;公司無法利用其稅務損失;公司無法保留100%的權利來開發面向醫藥或醫療用途的產品;以及公司無法增強其產品開發能力和/或保持戰略投資組合;以及在公司的2023財年年度報告的「風險因素」一節中討論的風險。讀者應謹慎考慮這些因素,不應過分依賴前瞻性陳述。讀者應注意,上述清單並非詳盡無遺。儘管本新聞稿中包含的前瞻性陳述基於管理層認爲的合理假設,但公司無法保證實際結果與這些前瞻性陳述一致。本新聞稿中的前瞻性陳述在此謹以本警示聲明明確限定,並反映了公司於此日期的期望,並有可能在此後發生變化。公司無義務更新或修訂任何前瞻性陳述,無論是因爲新信息、估計或觀點、未來事件、結果或其他原因,也無義務解釋後續實際事件與此類前瞻性信息之間的任何重大差異,除非適用法律另有要求。
The reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at and on the EDGAR section of the United States Securities and Exchange Commission's website at www.sec.gov for a more complete discussion of such risk factors and their potential effects.
閱讀者被要求查看有關量子生物製藥的其他信息,包括其年度信息表,可以在SEDAR+網站上找到,並在美國證券交易委員會(SEC)的EDGAR部分網站www.sec.gov上找到,以便更全面地討論這些風險因素及其潛在影響。
Contact
聯繫人
Quantum BioPharma Ltd.
Zeeshan Saeed, Founder, Chief Executive Officer and Executive Co-Chairman of the Board
Email: info@QuantumBioPharma.com
Telephone: (416) 854-8884
Quantum BioPharma有限公司。
Zeeshan Saeed,創始人,首席執行官和執行聯席主席
電子郵件:info@QuantumBioPharma.com
電話:(416) 854-8884
SOURCE: Quantum BioPharma Ltd.
來源:量子生物製藥有限公司。