Quantum Biopharma Announces Closing of Initial Tranche of Private Placement Offering

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

[{"type":"text","content":"Quantum Biopharma Announces Closing of Initial Tranche of Private Placement Offering\nTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. TORONTO, March 20, 2026 (GLOBE NEWSWIRE) -- Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) (“Quantum BioPharma” or the “Company”), is pleased to announce that it has closed an initial tranche (“First Tranche”) of the offering announced on March 10, 2026 and March 11, 2026 (collectively, the “Announcement NRs”) and has issued 3,750 Debenture Units (as defined in the Announcement NRs) for $3,750,000. The Company will use the proceeds from the First Tranche for the ongoing development of the Company's business model and for general working capital purposes. One director of the Company (the “Director Subscriber”) participated in the Offering (as defined in the Announcement NRs) and subscribed for Debenture Units representing aggregate gross proceeds of $300,000. The participation by the Director Subscriber in the Offering constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction exceeds 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party aspects of the Director Subscriber’s participation in the Offering at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances in order to expedite the completion of the Offering. Debt Settlement In addition, the Company has completed an initial batch of the Debt Settlement (as defined in the Announcement NRs) by issuing an aggregate of 370,457 Class B subordinate voting shares in the Company (each, a “Class B Share”) to...

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