Court Orders FSD Pharma to Move Shareholder Meeting Date to May 14, 2021, Imposes Requirement of an Independent Meeting Chair and Prevents Dr. Raza Bokhari and Other Directors from Voting Recently Issued Shares

About this update from Quantum Biopharma Ltd. Subordinate Voting Shares Class B

[{"type":"text","content":"Court Orders FSD Pharma to Move Shareholder Meeting Date to May 14, 2021, Imposes Requirement of an Independent Meeting Chair and Prevents Dr. Raza Bokhari and Other Directors from Voting Recently Issued SharesToronto, Ontario--(Newsfile Corp. - March 8, 2021) - The group of concerned shareholders (the \"Concerned Shareholders\") of FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9) (the \"Company\" or \"FSD\") which includes two founding directors, Anthony Durkacz and Zeeshan Saeed, are pleased to announce that they were successful in their request that the Ontario Superior Court of Justice (Commercial List) (the \"Court\") order the Company to accelerate the date of its previously called annual shareholders' meeting. The meeting will now be held on May 14, 2021. As a result of this earlier meeting date, the special meeting of the Company's shareholders called by the Concerned Shareholders for March 31, 2021 will not be required. This earlier meeting date will allow FSD to deal with the issues raised by the Concerned Shareholders while finally satisfying FSD's obligation to hold its long-overdue annual shareholders' meeting - an outcome that is in the best interest of all FSD shareholders.As requested by the Concerned Shareholders, the Court also ordered that Dr. Raza Bokhari, the Chair of FSD's board of directors (the \"Board\") and the Company's Chief Executive Officer, not act as chair of the meeting. Instead, an independent person will be appointed to ensure that the meeting is run in a fair and orderly fashion. The Concerned Shareholders have identified many actions by Dr. Raza Bokhari and other board members, Stephen Buyer, Robert Ciaruffoli, James Datin, Gerald Goldberg and Larry Kaiser, that have harmed shareholders. Among these is the issuance of at least 13,196,764 of Class B shares in just seven weeks - over 68% of the number outstanding on January 4, 2021, the date of the Concerned Shareholders' requisition of a shareholder meeting (the \"Requisition Date\"). These entirely unjustified issuances at a time when the Class B shares were already devalued have driven the share price to all-time lows and compounded shareholder losses. During this time, Dr. Raza Bokhari, Stephen Buyer, Robert Ciaruffoli, James Datin, Gerald Goldberg and Larry Kaiser, have lined their pockets by awarding themselves cash and Class B share...

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