Quantum BioPharma Ltd. has announced its board approved the settlement of CAD$123,487.43 in debt through the issuance of Class B subordinate voting shares. The shares will be issued at a deemed price equal to the lower of CAD$4.26 or the closing price on the Canadian Securities Exchange on the trading day immediately before the debt settlement closes. The debt is owed to arm’s length creditors and insiders of the company. The securities issued in the settlement have not been registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption.
Quantum BioPharma Ltd.Company issuing shares to settle debt, diluting existing shareholders.