Quantum Biopharma Announces Management Changes and Debt Settlement Plans

Quantum BioPharma Ltd. has announced several key corporate updates effective August 30, 2024. Donal Carroll will become Chief Financial Officer, Nathan Coyle will be the Controller, and Jason Sawyer will assume the role of Head of Finance and Mergers and Acquisitions.

The company also cancelled 32,690 options to purchase Class B shares and granted an equivalent number of restricted share units subject to certain conditions, including the completion of a study by Ingenu of Australia.

Additionally, Quantum BioPharma plans to settle management bonuses totaling $450,000 per executive into Class B shares to preserve cash. The estimated settlement date is around the first week of September 2024.

Each debt settlement with executives is classified as a "related party transaction" but is exempt from formal valuation and minority approval due to the terms of Multilateral Instrument 61-101.