FSD Pharma announces distribution date for Celly shares

FSD Pharma announced that, further to its press release dated November 7, 2023, that its distribution date for the contemplated plan of arrangement is November 29, 2023. Subject to the satisfaction of all applicable closing conditions of the Arrangement, common shares in the capital of Celly Nutrition Corp. will be distributed to FSD Pharma Securityholders of record as of November 28, 2023 on the Distribution Date. The ex-dividend date is November 27, 2023. Holders of all shares in the capital of FSD Pharma and warrants exercisable for the purchase of class B subordinate voting shares, provided the applicable warrant certificate entitles the holder thereof to receive distributions substantially similar to those received by holders of class B subordinate voting shares on the Record Date will be eligible to receive Celly Nu Shares on the Distribution Date pursuant to Arrangement. As a result of the Arrangement, FSD Pharma Securityholders are expected to receive one Celly Nu Share in respect of FSD Pharma Share or FSD Pharma Distribution Warrant that is held by such FSD Pharma Securityholder. The Company expects that this will result in an aggregate of approximately 45,694,621 Celly Nu Shares being distributed to the FSD Pharma Securityholders and an aggregate of approximately 154,305,379 Celly Nu Shares retained by the Company, in each case assuming that the number of FSD Pharma Shares and FSD Pharma Distribution Warrants remains unchanged between today and the Distribution Date. It is expected that DRS statements representing the Celly Nu Shares to which the registered FSD Pharma Securityholders are entitled to under the Arrangement will be sent out on or about the Distribution Date. The special meeting of the FSD Pharma Securityholders to vote on the Arrangement is scheduled to be held on November 20, 2023. Additionally, the final hearing at the Ontario Superior Court of Justice to approve the Arrangement is scheduled for November 24, 2023.