FSD Pharma Inc. Announces Results of Annual General Meeting of Shareholders and Other Corporate Updates

TORONTO, June 27, 2022–(BUSINESS WIRE)–FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (ENG: 0K9A) (“FSD-Pharma“or the”Company“), a life sciences holding company dedicated to building a portfolio of biotechnology assets and solutions, today announced the results of its annual general meeting of shareholders (“AGM“), held online and in virtual format only on June 23, 2022.

There were 164 shareholders represented in person or by proxy at the AGM holding 48 Class A Multiple Voting Shares (“Class A Shares“) and 7,885,958 Class B Subordinate Voting Shares (“Class B Shares“), representing 36.21% of the votes attached to the Class A Shares and the Class B Shares.

The detailed voting results for the election of FSD Pharma directors are presented below.

Candidate

vote for

% of votes for

Votes withheld

% of votes retained

Antoine Durkacz

20,584,760

97.26%

580 878

2.74%

Zeeshan Said

20,698,398

97.79%

467 240

2.21%

Donald Carroll

20,807,032

98.31%

358,606

1.69%

Adnan Bashir

20,804,734

98.29%

360 904

1.71%

Fernando Cugliari

13,377,981

63.21%

7,787,657

36.79%

Nitin Kaushal

13,677,611

64.62%

7,488,027

35.38%

Laurent Latowsky

20,359,349

96.19%

806 289

3.81%

Accordingly, the nominees for election as directors listed above have been elected as directors of the Company to serve until the close of the next annual meeting of shareholders or until their successors are elected or appointed.

In addition, at the AGM, the shareholders also reappointed MNP LLP as auditor of the Company and authorized the directors to fix the remuneration of the auditor. For further information on these matters, please refer to FSD Pharma’s management information circular dated May 20, 2022, available on SEDAR at www.sedar.com.

Company Updates

FSD Pharma remains active with its share repurchase program launched on December 30, 2021. The program specifies that the Company may repurchase up to 2,000,000 of its Class B subordinate voting shares, representing approximately 5% of all issued and outstanding Class B Subordinate Voting Shares. To date, 1,762,100 shares have been repurchased at market price, of which 1,663,100 shares have been returned to the treasury and withdrawn, leaving 38,407,124 shares outstanding.

Along the same lines, people who qualify as “insiders” by regulatory standards, including Anthony Durkacz, co-founder and interim CEO of FSD Pharma, Zeeshan Saeed, co-founder and chairman of FSD Pharma, Donal Carroll, director, etc HUGE on the open market. Insider transactions concerning FSD Pharma can be viewed by clicking on the following link: https://ceo.ca/api/sedi?symbol=HUGE&amount=&transaction=&insider=

FSD Pharma had a very active presence at BIO-2022 led by Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, which took place at the San Diego Convention Center from June 13-16, 2022. FSD Pharma participated in numerous meetings, establishing new breakthroughs for potential collaborations and partnerships as part of an ongoing effort to strengthen FSD’s current pipelines and global market access strategies.

Finally, the company was recently featured in an International Business Times article titled “From Multiple Sclerosis to Depression, Innovative Biotechnology Targets Total Brain Health.” The article discusses scientific and technological advances and talks extensively about FSD Pharma’s role as an innovator developing new drugs targeting neurological diseases. Interested persons are invited to read the article on: https://www.ibtimes.com/multiple-sclerosis-depression-innovative-biotech-aims-total-brain-health-3537452

About FSD Pharma

FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, Inc. (“FSD BioSciences“), a wholly-owned subsidiary, is focused on the pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEAS“) or FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc. (“Lucid“), a wholly-owned subsidiary, is focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for potential treatment of mental health disorders Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders.

Forward-looking information

Certain statements contained herein are “forward-looking statements”. Often, but not always, forward-looking statements can be identified by the use of words such as “anticipates”, “expects”, “anticipates”, “anticipates”, “estimates”, “intends”. , “anticipates”, “hopes”, “plans”, or “believes”, or variations of these words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “might” , “potentially” or “will” be made, occur or be achieved. The forward-looking statements contained in this press release include statements relating to the company’s AGM as well as company updates. FSD does not can assure you that these forward-looking statements will prove to be accurate.Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Because forward-looking statements relate to future events and conditions, by their very nature they require assumptions to be made and involve inherent risks and uncertainties. The Company cautions that although the assumptions are believed to be reasonable under the circumstances, these risks and uncertainties give rise to the possibility that actual results could differ materially from the expectations set forth in the forward-looking statements. Factors that could cause such material differences include, but are not limited to: the fact that the drug development efforts of Lucid and FSD BioSciences are at a very early stage; the fact that preclinical drug development is uncertain and that product candidates from Lucid and FSD BioSciences may never proceed to clinical trials; the fact that the results of preclinical studies and early-stage clinical trials may not be predictive of the results of later-stage clinical trials; the uncertain outcome, cost and timing of product development activities, preclinical studies and clinical trials of Lucid and FSD BioSciences; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval for Lucid’s and FSD BioSciences’ product candidates; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to Lucid’s and FSD BioSciences’ drug candidates; the initiation, conduct and completion of preclinical studies and clinical trials may be delayed, adversely affected or impacted by issues related to COVID-19; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for product candidates of Lucid and FSD BioSciences; and other risks. Further information regarding factors that could cause actual results to differ materially is included in the annual reports and other reports of the Company filed from time to time with the Canadian Securities Administrators on SEDAR (www.sedar.com) and with the United States Securities and Exchange Commission on EDGAR (www.sec.gov) under the heading “Risk Factors”. Any forward-looking statement contained in this press release speaks only as of its date. The Company does not undertake to update forward-looking statements, except as required by applicable securities laws.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220627005178/en/

contacts

Zeeshan Saeed, Founder, Chairman and Executive Co-Chairman of the Board, FSD Pharma Inc.
Email: [email protected]
Phone: (416) 854-8884

For information: [email protected]
Investor relations: [email protected]
Website: www.fsdpharma.com

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