Quantum Biopharma Announces Non-Brokered Private Placement of Convertible Debenture Units for Gross Proceeds of Up to $5 Million

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

[{"type":"text","content":"Quantum Biopharma Announces Non-Brokered Private Placement of Convertible Debenture Units for Gross Proceeds of Up to $5 MillionTHIS 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, ON / ACCESSWIRE / December 5, 2024 / Quantum BioPharma Ltd. (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91) (\"Quantum BioPharma\" or the \"Company\"), is pleased to announce that it intends to complete a non-brokered private placement offering (the \"Offering\") of up to 5,000 convertible debenture units of the Company (the \"Debenture Units\") at a price of $1,000 per Debenture Unit (the \"Issue Price\").Each Debenture Unit will consist of (i) one secured convertible debenture having a face value of $1,000.00 (each a \"Debenture\"); and (ii) 80 class B common share purchase warrants (each a \"Warrant\") exercisable for 80 Class B subordinate voting shares in the Company (each, a \"Share\"). The Debentures will mature on the date that is 36 months from the date of issuance (the \"Maturity Date\") and shall bear interest at a rate of 1.25% per month, beginning on the date of issuance and payable in cash on the last day of each calendar quarter.The principal sum of the Debentures, or any portion thereof, and any accrued but unpaid interest, may be converted into class B Shares at a conversion price of $6.25 per class B Share. Each Warrant shall entitle the holder to acquire one additional class B Share (each, a \"Warrant Share\") at a price of $7.00 per Warrant Share, for a period of five (5) years from the date of issuance.The Company will use the proceeds from the Offering for the ongoing development of the Company's business model and for general working capital purposes.The Company may redeem the Debentures at any time prior to maturity, in whole or in part, upon fifteen days' notice and payment of certain penalties as applicable. The Company's obligations under the Debentures are collaterally secured by general security from the Company.The Company expects the Offering to be completed in tranches, with the first tranche closing the week of December 9, 2024.All amounts in this press release are expressed in Canadian dollars.The securities being offered have not been, nor will they be, registered under the United States Securities Act o...

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