FSD Pharma (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) and Celly Nutrition Corp. (“Celly Nu”) today announced the closing of the previously proposed distribution of a portion of FSD Pharma’s holdings of common shares of Celly Nu (“Celly Nu shares”) to certain securityholders of FSD Pharma through a statutory plan of arrangement under section 182 of the Business Corporations Act (Ontario) (the “plan of arrangement”), per the arrangement agreement dated Oct. 4, 2023. As detailed in FSD Pharma’s press release dated Nov. 21, 2023, the record date of the plan of arrangement was set at Nov. 28, 2023. On Nov. 29, 2023, being the effective date for the distribution by FSD Pharma of a portion of its Celly Nu shares pursuant to the plan of arrangement, FSD Pharma securityholders, as defined in the announcement, received one (1) Celly Nu share for each class A share, class B share or FSD Pharma distribution warrant held. FSD Pharma securityholders also received new class A shares, class B shares and FSD Pharma distribution warrants (“new FSD Pharma securities”) in exchange for their class A shares, class B shares and FSD Pharma distribution warrants (the “share exchange”). Further details concerning the share exchange are set forth in the circular and arrangement agreement, each of which is available under FSD Pharma’s profile on SEDAR+.
To view the full press release, visit https://ibn.fm/sjmhk
About FSD Pharma Inc.
FSD Pharma 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”), FSD is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. FSD has also licensed UNBUZZD(TM), a proprietary formulation of natural ingredients, vitamins and minerals to help with liver and brain function for the purposes of quickly relieving individuals from the effects of alcohol consumption, for use in the consumer recreational sector, to Celly Nu and is entitled to a royalty on the revenue generated by Celly Nu from sales of products created using the technology rights granted under the licensing agreement. FSD continues its R&D activities to develop novel formulations for alcohol misuse disorders and continues the development of such treatments for use in the health care sector. FSD maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represent loans secured by residential or commercial property. For more information, visit the company’s website at www.FSDPharma.com.
About PsychedelicNewsWire
PsychedelicNewsWire (“PNW”) is a specialized communications platform with a focus on all aspects of psychedelics and the latest developments and advances in the psychedelics sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, PNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, PNW brings its clients unparalleled recognition and brand awareness. PNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from PsychedelicNewsWire, text “Groovy” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.PsychedelicNewsWire.com
Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.PsychedelicNewsWire.com/Disclaimer
PsychedelicNewsWire
San Francisco, CA
www.PsychedelicNewsWire.com
415.949.5050 Office
Editor@PsychedelicNewsWire.com
PsychedelicNewsWire is powered by IBN
