FSD Pharma Inc. Announces Results of Annual General Meeting of Shareholders and Other Corporate Updates

FSD Pharma Inc. Announces Results of Annual General Meeting of Shareholders and Other Corporate Updates

Toronto, June 27, 2022 – FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRE: 0K9A) (“FSD Pharma” or the “Company”), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, announced today the results of its annual general meeting of shareholders (“AGM”), held online and in virtual-only format on June 23, 2022.

There were 164 shareholders represented in person or by proxy at the AGM holding 48 Class A Multiple Voting Shares (“Class A Shares”) and 7,885,958 Class B Subordinate Voting Shares (“Class B Shares”), representing 36.21% of the votes attached to the Class A Shares and Class B Shares.

The detailed results of the vote for the election of directors of FSD Pharma are set out below.

NomineeVotes For% Votes ForVotes Withheld% Votes Withheld
Anthony Durkacz20,584,76097.26%580,8782.74%
Zeeshan Saeed20,698,39897.79%467,2402.21%
Donal Carroll20,807,03298.31%358,6061.69%
Adnan Bashir20,804,73498.29%360,9041.71%
Fernando Cugliari13,377,98163.21%7,787,65736.79%
Nitin Kaushal13,677,61164.62%7,488,02735.38%
Lawrence Latowsky20,359,34996.19%806,2893.81%

As a result, the nominees for election as directors set out above were elected as directors of the Company to serve until the close of the next annual meeting of shareholders or until their successors are elected or appointed.

In addition, at the AGM, the shareholders also re-appointed MNP LLP as the Company’s auditor and authorized the directors to fix the auditor’s remuneration. For more information on these matters, please refer to FSD Pharma’s management information circular dated May 20, 2022, available on SEDAR at www.sedar.com.

Corporate Updates

FSD Pharma remains active with its share repurchase program initiated on December 30, 2021. The program specifies that the Company may repurchase up to 2,000,000 of its Subordinate Class B Voting Shares, representing approximately 5% of all issued and outstanding Subordinate Class B Voting Shares. To date, 1,762,100 shares have been repurchased at market prices out of which 1,663,100 shares have been returned to the treasury and retired leaving 38,407,124 shares outstanding.

Related, individuals qualified as “insiders” by regulatory standards, including FSD Pharma Co-Founder and interim Chief Executive Officer Anthony Durkacz, FSD Pharma Co-Founder and President Zeeshan Saeed, Director Donal Carroll etc. continue to add to their positions by purchasing shares of HUGE in the open market. The insider trades for FSD Pharma can be seen by clicking on the following link: https://ceo.ca/api/sedi?symbol=HUGE&amount=&transaction=&insider=

FSD Pharma had a very active presence at BIO-2022 led by Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, which took place at the San Diego Convention Center from June 13 – 16, 2022. FSD Pharma participated in numerous meetings, establishing new inroads for potential collaborations and partnerships as an ongoing effort to strengthen FSD’s current pipelines and global market access strategies.

Lastly, the Company was recently featured in an article by International Business Times, titled, “Multiple Sclerosis to Depression, Innovative Biotech aims for Total Brain Health.” The article discusses advances in science and technology and speaks at length about the role of FSD Pharma as an innovator developing new medicines targeting neurological diseases. Interested individuals are encouraged to read the article at: https://www.ibtimes.com/multiple-sclerosis-depression-innovative-biotech-aims-total-brain-health-3537452

About FSD Pharma

FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, Inc. (“FSD BioSciences”), a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc. (“Lucid”), a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders


Zeeshan Saeed, Founder, President and Executive Co-Chairman of the Board, FSD Pharma Inc.
Email: Zsaeed@fsdpharma.com
Telephone: (416) 854-8884

For information: info@fsdpharma.com
Investor Relations: ir@fsdpharma.com
Website: www.fsdpharma.com