FSD Pharma Issues Important Message to Shareholders and Response to Dissident Circular
FSD Pharma Inc. (Nasdaq:HUGE) alerts shareholders about a proxy contest initiated by dissident shareholders. The Company emphasizes the need for shareholders to vote in favor of management's proposed director nominees at the upcoming Annual & Special Meeting on May 14, 2021. FSD Pharma announces support from former Senator Rick Santorum as the independent chair of the Meeting. Additionally, the Company is focused on advancing its lead compound, FSD-201, and exploring M&A opportunities, including a potential acquisition of a late-stage asset expected to gain FDA approval soon.
- Support from Rick Santorum as independent chair could enhance credibility and shareholder confidence.
- Active pursuit of M&A opportunities may lead to expansion and new revenue streams.
- Expected FDA approval of a late-stage asset could significantly increase shareholder value.
- Ongoing proxy contest may distract from the Company's strategic initiatives and increase operational costs.
FSD Pharma Inc. (Nasdaq:HUGE) (CSE:HUGE) (the "Company" or "FSD Pharma") wishes to alert you to the events that have occurred since the Company filed its Management Information Circular (the "Circular") and the accompanying letter to shareholders related to the Annual & Special Meeting of shareholders scheduled for May 14, 2021, copies of which are available under the Company's SEDAR profile. On April 26, 2021, certain dissident shareholders issued an information circular which included misleading statements and baseless accusations towards the Company's management. In response, the Company issued the following letter to shareholders:
Dear fellow FSD Pharma Shareholder,
You recently received an alert from us that your investment in FSD Pharma Inc. ("FSD Pharma" or the "Company") is at a crossroad. The continuing self-serving actions by Anthony Durkacz, Zeeshan Saeed and the other dissident shareholders (collectively, the "Dissidents") highlight how dire the situation has become for the shareholders of the Company (the "Shareholders").
At the upcoming Annual and Special Meeting (the "Meeting") of Shareholders, it will be up to you to determine the best path forward. FSD Pharma recommends that Shareholders protect their interests and support value creation by voting FOR the director nominees proposed by management of the Company (the "Management Director Nominees") and all resolutions, using only the BLUE proxy. The Company is also pleased to announce that Rick Santorum, the former US Senator from Pennsylvania, and former US Presidential Candidate has agreed to be the independent chair of the Meeting. Sen. Santorum served as a United States Senator from Pennsylvania from 1995 to 2007. Sen. Santorum holds a BA from Pennsylvania State University, an MBA from the University of Pittsburgh and a J.D. degree with honors from Dickinson School of Law.
The current strategy continues to build positive momentum and offers a number of avenues to significant value creation for ALL Shareholders. Your Company is pursuing multiple applications of its lead compound, FSD-201 ultra-micronized palmitoylethanolamide ("PEA") and is also actively exploring other merger and acquisition (“M&A”) and licensing opportunities that could expand the drug development pipeline and generate new opportunities to create significant value for Shareholders. In fact, FSD Pharma has a letter of intent in place to acquire a controlling interest in a late stage asset that is expected to receive approval for commercialization from the FDA either in Q4 2021 or Q1 2022 – if we can just get beyond the distractions and cost of this proxy contest. There is positive operating momentum inside, and exciting opportunities for growth outside, your Company. Shareholders can learn more at
{
"@context": "https://schema.org",
"@type": "FAQPage",
"name": "FSD Pharma Issues Important Message to Shareholders and Response to Dissident Circular FAQs",
"mainEntity": [
{
"@type": "Question",
"name": "What is FSD Pharma's stock symbol?",
"acceptedAnswer": {
"@type": "Answer",
"text": "FSD Pharma's stock symbol is HUGE."
}
},
{
"@type": "Question",
"name": "When is the Annual & Special Meeting for FSD Pharma?",
"acceptedAnswer": {
"@type": "Answer",
"text": "The Annual & Special Meeting for FSD Pharma is scheduled for May 14, 2021."
}
},
{
"@type": "Question",
"name": "Who is chairing the Meeting for FSD Pharma?",
"acceptedAnswer": {
"@type": "Answer",
"text": "Former US Senator Rick Santorum will be the independent chair of the Meeting."
}
},
{
"@type": "Question",
"name": "What is FSD Pharma's lead compound?",
"acceptedAnswer": {
"@type": "Answer",
"text": "FSD Pharma's lead compound is FSD-201, an ultra-micronized form of palmitoylethanolamide (PEA)."
}
},
{
"@type": "Question",
"name": "What new opportunities is FSD Pharma exploring?",
"acceptedAnswer": {
"@type": "Answer",
"text": "FSD Pharma is exploring merger and acquisition opportunities to expand its drug development pipeline."
}
}
]
}
FAQ
What is FSD Pharma's stock symbol?
When is the Annual & Special Meeting for FSD Pharma?
Who is chairing the Meeting for FSD Pharma?
What is FSD Pharma's lead compound?
What new opportunities is FSD Pharma exploring?
