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Quantum BioPharma Ltd C.QNTM

Alternate Symbol(s):  QNTM

Quantum BioPharma Ltd. is a Canada-based biopharmaceutical company. The Company is engaged in building a portfolio of assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. (Lucid), it is focused on the research and development of its lead compound, Lucid-MS, which is a patented new chemical entity to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis. Its unbuzzd beverage is a proprietary formulation of vitamins and minerals to help with liver and brain function for the purposes of relieving the effects of alcohol consumption and restoring a normal lifestyle. It maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.


CSE:QNTM - Post by User

Comment by wendhie05on Apr 09, 2021 3:30am
25 Views
Post# 32964969

RE:RE:RE:RE:RE:RE:RE:RE:Failure to Advance Stated Goals:

RE:RE:RE:RE:RE:RE:RE:RE:Failure to Advance Stated Goals:It became clear to Messrs. Durkacz and Saeed that Dr. Bokhari was actively obstructing them from exercising their rights as directors and that other Board members were supporting him. Messrs. Durkacz and Saeed were frustrated by the Board’s apparent lack of a sense of urgency to remedy the Company’s decline. While undertaking a strategic acquisition was a core component of the Company’s new business plan, no opportunities were currently under consideration, and none had been proposed during the many months that had passed since March 2020. As if to underscore the Company’s intransigence, on December 18, 2020, Mr. Durkacz received a further letter from the Company’s legal counsel essentially telling him to cease and desist from his efforts to have the Board consider the proposed opportunity. In this context, there appeared to be no effective path for advancing the Strategic Transaction, or any other strategic opportunity
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