FSD Pharma signs definitive agreement to launch UNBUZZD drink

FSD Pharma announced that it has executed a definitive agreement, signed July 31, 2023, with Celly Nutrition Inc. to grant exclusive rights to recreational applications for FSD Pharma’s alcohol misuse technology and launch UNBUZZD, a revolutionary rapid alcohol detoxification drink. Pursuant to the terms of the Agreement, FSD will receive a 7% royalty on revenue from the Celly Nutrition, until a total in the amount of $250,000,000 has been paid to FSD Pharma, at which point the rate is reduced to 3%. In addition, the Company has issued FSD 100,000,000 common shares in the capital of the Company as a licence fee and has issued FSD an anti-dilution warrant, entitling FSD to exercise the warrant any point in the next five years to increase their holding in the company to 25% for nominal consideration. Finally, the Celly Nutrition and FSD Pharma entered into a loan agreement, whereby FSD Pharma has agreed to loan the Celly Nutrition $1,000,000 on secured basis with a term of 3 years, which will bear interest at a rate of 10% per annum, payable on each anniversary.