Quantum Biopharma Announces Closing of Third Tranche
Summary
Toronto, Ontario--(Newsfile Corp. - January 20, 2025) - Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FSE: 0K91) (Quantum BioPharma or the Company), is pleased to announce that it has closed a third tranche (Third Tranche) of the offering announced on December 5, 2024 (the December 5 NR) and has issued 1,480 Debenture Units (as defined in the December 5 NR) for $1,480,000.Due to decrease in the public market price of the Class B subordinate voting shares in the Company (each, a Share), the Company amend the terms of the Debenture Units as follows: reduce the conversion price per Share to $4.85; increase the number Warrants (as defined in the December 5 NR) included as part of each Debenture Unit to 103.093; reduce the exercise price per Warrant Share (as defined in the December 5 NR) to $5.25; and the obligations under the Debentures (as defined in the December 5 NR) will be secured against the Companys property pursuant to the terms of a general security agreementThe Company will use the proceeds from the Third Tranche for the ongoing development of the Companys business model and for general working capital purposes.All amounts in this press release are expressed in Canadian dollars.The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. 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.Certain information in this news release constitutes forward-looking statements under applicable securities laws. Forward-looking statements in this news release include statements relating to: the stated terms, use of proceeds, and timeline of the Offering; and the Companys issuance of the Debentures, Warrants (and the underlying Warrant Shares if exercised), and potential issuance of Shares (if the Debentures are converted).Forward-looking information in this press release are based on certain assumptions and expected future events, including but not limited to: the Company has the ability to carry out the Offering as stated; and the Company has the ability to issue the Debentures, Warrants (and the underlying Warrant Shares if exercised), and Shares (if the Debentures are converted).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: the Companys inability to carry out the Offering as stated; and the Companys inability to issue the Debentures, Warrants (and the underlying Warrant Shares if exercised), and Shares (if the Debentures are converted), as well 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 www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commissions website at www.sec.gov for a more complete discussion of such risk factors and their potential effects.Readers are cautioned that the foregoing list is not exhaustive. 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.Quantum BioPharma Ltd.Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the BoardEmail: Zsaeed@quantumbiopharma.comTelephone: (416) 854-8884THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237873