FSD Pharma Inc Announces Key Dates for Distribution of Celly Nutrition Corp Shares

FSD Pharma Securityholders of record as of November 28, 2023 (the “Record Date”), will be entitled to receive Celly Nu Shares. This includes holders of all shares in FSD Pharma (“FSD Pharma Shares”) and holders of warrants exercisable for the purchase of class B subordinate voting shares, under specific conditions (“FSD Pharma Distribution Warrants”). The ex-dividend date for this distribution is set for November 27, 2023.

Under the terms of the Arrangement, FSD Pharma Securityholders are anticipated to receive one Celly Nu Share for each FSD Pharma Share or FSD Pharma Distribution Warrant they hold. Based on current holdings, this is expected to result in approximately 45,694,621 Celly Nu Shares being distributed to FSD Pharma Securityholders. The company will retain an estimated 154,305,379 Celly Nu Shares, assuming no changes in the number of FSD Pharma Shares and FSD Pharma Distribution Warrants before the Distribution Date.

Registered FSD Pharma Securityholders will receive DRS statements representing their entitled Celly Nu Shares around the Distribution Date, as per the Arrangement.

Additionally, a pivotal meeting for FSD Pharma Securityholders to vote on the Arrangement is scheduled for November 20, 2023. This will be followed by a final hearing at the Ontario Superior Court of Justice (Commercial List) on November 24, 2023, to seek approval for the Arrangement. These steps mark significant milestones in FSD Pharma Inc’s ongoing strategy to expand its footprint in the biopharmaceutical landscape and offer enhanced value to its stakeholders through this distribution arrangement with Celly Nutrition Corp.