FSD Pharma Inc. Announces Results of Annual General Meeting of Shareholders And Other Corporate Updates
FSD Pharma Inc. (NASDAQ: HUGE) held its annual general meeting on June 23, 2022, with 164 shareholders representing 36.21% of votes. Key results include the election of board members Anthony Durkacz, Zeeshan Saeed, Donal Carroll, Adnan Bashir, and others, with over 96% voting in favor. The AGM also re-appointed MNP LLP as the Company’s auditor. Furthermore, the Company continues an active share repurchase program, having bought back 1,762,100 shares. Insiders, including company executives, are purchasing additional shares, indicating confidence in FSD Pharma's future.
- 97.26% of votes for Anthony Durkacz, 97.79% for Zeeshan Saeed, and 98.31% for Donal Carroll indicate strong support for leadership.
- 1,762,100 shares repurchased, showcasing commitment to shareholder value.
- Insider buying activity reflects confidence in the company's future prospects.
- None.
Insights
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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
The detailed results of the vote for the election of directors of
Nominee |
Votes For |
% Votes For |
Votes Withheld |
% Votes Withheld |
|
20,584,760 |
|
580,878 |
|
|
20,698,398 |
|
467,240 |
|
|
20,807,032 |
|
358,606 |
|
|
20,804,734 |
|
360,904 |
|
|
13,377,981 |
|
7,787,657 |
|
|
13,677,611 |
|
7,488,027 |
|
|
20,359,349 |
|
806,289 |
|
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
Corporate Updates
Related, individuals qualified as “insiders” by regulatory standards, including FSD Pharma Co-Founder and interim Chief Executive Officer
Lastly, the Company was recently featured in an article by International Business Times, titled, “Multiple Sclerosis to Depression, Innovative Biotech aims for
About
Forward Looking Information
Certain statements contained herein are “forward-looking statements.” Often, but not always, forward-looking statement can be identified by the use of words such as “plans”, “expects”, “expected”, “scheduled”, “estimates”, “intends”, “anticipates”, “hopes”, “planned” or “believes”, or variations of such words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “might”, “potentially” or “will” be taken, occur or be achieved. Forward-looking statements contained in this press release include statements relating to the Company’s AGM as well as corporate updates. FSD cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Factors that may cause such material differences include without limitation: the fact that the drug development efforts of both Lucid and FSD BioSciences are at a very early stage; the fact that preclinical drug development is uncertain, and the drug product candidates of Lucid and FSD BioSciences may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of Lucid and FSD BioSciences; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the potential inability to obtain or maintain regulatory approval of the drug product candidates of Lucid and FSD BioSciences; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of Lucid and FSD BioSciences; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected, or impacted by COVID-19 related issues; the potential inability to obtain adequate financing; the potential inability to obtain or maintain intellectual property protection for the drug product candidates of Lucid and FSD BioSciences; and other risks. Further information regarding factors that may cause actual results to differ materially are included in the Company’s annual and other reports filed from time to time with the Canadian Securities Administrators on SEDAR (www.sedar.com) and with the
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Email: Zsaeed@fsdpharma.com
Telephone: (416) 854-8884
For information: info@fsdpharma.com
Investor Relations: ir@fsdpharma.com
Website: www.fsdpharma.com
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