FSD Pharma provides update on investment in Celly Nutrition

FSD Pharma provides an update on its investment in Celly Nutrition Corp. Celly Nutrition, announced April 8 that it has entered into a loan amending agreement in connection with the senior secured term loan made by FSD Pharma to Celly Nu, as previously announced on their joint press release dated November 30, 2023, to increase the principal of the Term Loan by $300,000 to $1,300,000. Pursuant to the Agreement, the interest payment due on the first annual anniversary of the Term Loan will be deferred and become payable together with the interest payment due on the second annual anniversary of the Term Loan. Celly Nu will continue to make interest payments as required by the original loan agreement, as amended, in respect of the Term Loan, and will provide FSD Pharma the option to convert any amounts outstanding into common shares of Celly Nu upon the occurrence of an event of default under the Agreement. The Term Loan continues to bear interest at 10% per annum payable on each anniversary and expires July 31, 2026.