FSD Management and Board Suffers Multiple Court Losses as Shareholder Meeting Approaches

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

[{"type":"text","content":"FSD Management and Board Suffers Multiple Court Losses as Shareholder Meeting ApproachesToronto, Ontario--(Newsfile Corp. - May 12, 2021) - On Monday, May 10, 2021, at the request of Messrs. Anthony Durkacz and Zeeshan Saeed, founding shareholders and members of the group of concerned shareholders (the \"Concerned Shareholders\") of FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FSE: 0K9A) (the \"Company\" or \"FSD\"), the Ontario Superior Court of Justice (Commercial List) (the \"Court\") issued an order appointing Ms. Carol Hansell as independent chair of the Company's shareholders' meeting to be held on May 14, 2021 (the \"Meeting\") and dismissed FSD's application challenging the Concerned Shareholders' information circular. This defeat is only the most recent in a series of Court orders against FSD management and directors obtained by the Concerned Shareholders that the Company has concealed, despite their importance.\"These consistent losses are clear evidence of Dr. Raza Bokhari's [the Company's Chief Executive Officer] poor grasp of fundamental corporate governance principles and his repeated breaches of court orders provide insight into his moral compass,\" said Anthony Durkacz. \"It is regrettable that Dr. Bokhari's latest misconduct implicated Senator Rick Santorum and resulted in a further waste of Company money. A simple respect for the law would have avoided this embarrassment for all of us.\" The most recent Court decision noted that Senator Santorum was compromised by a conflict of interest and was not to serve as the Meeting chair. The Court rejected his appointment and instead appointed Ms. Carol Hansell, a well-respected corporate governance expert, independent of all parties, to chair the Meeting.It has previously been disclosed to shareholders that, on March 5, 2021, the Court ordered (the \"March 5 Court Order\") the Company to hold the Meeting on May 14, 2021 and to appoint an independent chair agreed to by both parties to ensure that someone other than Dr. Raza Bokhari acted as chair of the Meeting. The Original Order also prohibited Dr. Raza Bokhari and his collaborating directors from voting shares at the Meeting that they had recently issued to themselves. What the Company failed to disclose is that, just a few weeks later, on April 9, 2021, the Court issued an injunction (the \"April 9 Court Order\") tha...

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