FSD Pharma Announces Closing of C$10.125 Million Private Placement to Institutional Investors

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

[{"type":"text","content":"\n\n\n\nFSD Pharma Announces Closing of C$10.125 Million Private Placement to Institutional Investors\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 9, 2020\n\n\n\nTORONTO, June 9, 2020 /CNW/ - FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE.CN) (FRA: 0K9A) (the \"Company\") announces the closing of a previously announced private placement of 1,500,000 of the Company's Class B Subordinate Voting Shares (\"Shares\") at a price of C$6.75 per Share and warrants to purchase 1,500,000 Shares (cumulatively, the \"Securities\") of the Company to certain institutional investors for gross proceeds, before deducting placement fees and other estimated offering expenses payable by the Company, of approximately C$10.125 million. The warrants have a five-year term and an exercise price of C$9.65 per share. \n\n \n \n \n \n \n \n\n \nThe Company has also granted the placement agents an option to arrange for purchases of up to an additional C$10.125 million of Securities on the terms above for a period of 30 days following the initial closing. The net proceeds from this private placement are expected to be used for working capital and other general corporate purposes.  \nThe securities sold in this private placement were issued pursuant to an exemption from registration under the Securities Act of 1933 (the \"Securities Act\"). The Securities have not been and will not be registered under the Securities Act, or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout FSD Pharma\nFSD Ph...

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