Post by
Msabundance on Nov 23, 2020 5:27am
SETTLEMENT AGREEMENT
Such a wonderful idea! The Company entered into the Settlement Agreement in order to avoid the expense, burden and inconvenience associated with the continuance of the Settled Action.
Comment by
Msabundance on Nov 23, 2020 5:32am
That`s true! And also the Settlement Agreement provides for a full and final release of the Company, its officers, directors and various other related parties from any and all claims that arose or could have arisen from the claim issued by the plaintiff within the Settled Action.
Comment by
Msabundance on Nov 23, 2020 5:37am
In addition for that is the Pursuant to the Settlement Agreement, the Company will pay C$5,500,000, approximately C$4,600,000 of which the Company expects to be funded with the proceeds of insurance, leaving the Company with a net payment of approximately C$900,000.
Comment by
Msabundance on Nov 23, 2020 5:41am
Wow! FSD Pharma Inc.today announced the closing of previously announced definitive agreements with investors for the purchase and sale of 4,318,179 Class B Subordinate Voting Shares of the Company (“Shares”) and warrants to purchase 3,454,543 Shares (collectively, the “Securities”) at a purchase price of US$2.20 per Share in a registered direct offering.
Comment by
Msabundance on Nov 23, 2020 5:44am
The Company is indeed great because it has also granted A.G.P./Alliance Global Partners an option to arrange for purchases of up to an additional US$10.0 million of Securities on the terms above for a period of 30 days following the initial closing.
Comment by
Borat138 on Nov 23, 2020 4:08pm
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