FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, has entered into a definitive agreement with Celly Nutrition Corp. According to the announcement, the Oct. 4, 2023, agreement outlines the distribution of a portion of FSD Pharma’s shareholdings of Celly Nu to certain securityholders of FSD Pharma. The company noted that it has scheduled a virtual meeting on Nov. 20, 2023, for FSD Pharma securityholders to consider and vote on a special resolution approving the agreement, or plan of arrangement. A prerevenue, early-stage research and development company, Celly Nu will focus on developing and manufacturing consumer products in the dietary supplement industry. Closing of the transaction is subject to several conditions, and the final details of the plan of arrangement are subject to change.
“There is no certainty that the transaction will be completed as currently proposed or at all,” the company stated in the press release. “There will be no change in FSD Pharma securityholders’ proportionate ownership in FSD Pharma Securities as a result of the plan of arrangement. In addition, holders of FSD Pharma options and nondistribution warrants as at the effective date of the plan of arrangement will have such FSD options and nondistribution warrants adjusted in accordance with their terms as a result of the transaction.”
To view the full press release, visit https://ibn.fm/XfeoB
About FSD Pharma Inc.
FSD Pharma Inc. is a biotechnology company with two candidates in different stages of development. Lucid Psychss Inc., a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-MS and UNBUZZD(TM). Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders. UNBUZZD is a proprietary formulation of natural ingredients, vitamins and minerals to help with liver and brain function for the purposes of potentially quickly relieving from the effects of alcohol consumption, such as inebriation, and restoring normal lifestyle. For more information about the company, please visit www.FSDPharma.com.
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