Quantum BioPharma Ltd. Announces $600 Private Placement of Class A Multiple Voting Shares

Quantum BioPharma Ltd. (NASDAQ: QNTM), a biopharmaceutical company specializing in innovative biotech assets, has announced a non-brokered private placement of Class A Multiple Voting Shares (MVS) at $50 per share, aiming for gross proceeds of up to $600. This offering is anticipated to be fully subscribed by current MVS holders, including entities associated with CEO Zeeshan Saeed and director Anthony Durkacz. The transaction, classified as a related-party transaction under MI 61-101, utilized exemptions due to its modest size relative to the company's market capitalization. The proceeds from this placement are earmarked for general working capital purposes. In compliance with Canadian securities laws, all issued securities will be subject to a four-month-plus-one-day hold period.

Quantum BioPharma is at the forefront of developing treatments for challenging neurodegenerative and metabolic disorders, as well as alcohol misuse disorders, with a pipeline of drug candidates in various stages of development. The company's subsidiary, Lucid Psycheceuticals Inc., is actively researching and developing Lucid-MS, a patented compound designed to address myelin degradation, a key factor in multiple sclerosis. Additionally, Quantum BioPharma's strategic investments and partnerships, including its stake in Celly Nutrition Corp. and the development of UNBUZZD(TM), underscore its diversified approach to tackling complex health issues.