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/q08pj
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.
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 21000 (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
