Quantum BioPharma Ltd C.QNTM

Failure to Advance Stated Goals:

[wendhie05]

Dr. Bokhari and the Board have failed to achieve any of these objectives.
• While the Phase 2 Clinical Trial was approved in September 2020, to date only one patient has been enrolled in the trial out of an “expected” 352 patients.
• While the Company listed its Cobourg Property for sale in the first quarter of 2020, it remains unable to dispose of the property
. • Management has failed to identify any viable or appropriate strategic acquisition opportunities.

[wendhie05]

During this 12-month period, FSD’s Share price has further declined from $5.70 on March 2, 2020 to $2.60 on March 1, 2021. This decrease has occurred at a time when the Nasdaq Composite Index has increased by over 50%.

[wendhie05]

Further Failures by Dr. Bokhari and the Board: In November 2020, as the price of the Shares approached new lows, Messrs. Durkacz and Saeed, founding directors of the Company and two of the Concerned Shareholders, spoke to Dr. Bokhari, about this lack of progress and identified what they believed was a promising strategic acquisition opportunity (the “Strategic Transaction”). They were

[wendhie05]

While this might have been a simple difference of opinions on the perceived value of a strategic opportunity, which could have been easily debated among management and the Board and resolved, the circumstances that followed were something else entirely. The Concerned Directors quickly grew alarmed about FSD’s governance and the conduct of Dr. Bokhari and the Board (other than Mr. Durkacz and Mr

[wendhie05]

On December 16, 2020, Messrs. Durkacz and Saeed contacted the other Board members to propose a discussion of the Strategic Transaction. An independent member of the Board, Larry Kaiser, responded by suggesting a Board meeting be called and Dr. Bokhari replied to all Board members suggesting a Board call be scheduled for December 18, 2020. The following day, Dr. Bokhari cancelled the December 18

[wendhie05]

Consequently, on December 18, 2020, Messrs. Durkacz and Saeed exercised their right as directors to call a Board meeting to be held on Tuesday, December 22, 2020 (the “December 22 Board Meeting”). While several directors initially indicated their availability to attend the December 22 Board Meeting, Messrs. Durkacz and Saeed were later advised by FSD’s legal counsel in writing that a clear

[wendhie05]

Given the Company’s dire circumstances, Messrs. Durkacz and Saeed believed that the Board should be prepared to meet on a timely basis to consider the proposed Strategic Transaction and tried again to exercise their rights as directors to call a Board meeting – this time to be held on December 30, 2020 (the “December 30 Board Meeting”). Again Messrs. Durkacz and Saeed received a letter from FSD’s

[wendhie05]

During this time, Messrs. Durkacz and Saeed made several requests for access to the Company’s minute books and related governance records as they became concerned about apparent governance shortcomings. The Company did not provide access to these materials. Dr. Bokhari claimed they were unavailable, though was later able to make them available within 24 hours when questioned about these records

[wendhie05]

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

[mhaimillionaire]

Funny you guys keep attacking AD before proxy vote but that’s ok you are entitled to your opinion even if it’s wrong.

[mhaimillionaire]

According to the Company’s prospectus supplement dated February 11, 2021, the Class B Shares issued between February 1 and 10, 2021 were issued at a weighted average price of US$2.69 per Share. This can be compared to the average price of US$3.83 at which the Class B Shares were trading in the eight trading-day period following the launch of the 2020 ATM Offering. The Company made no use of the

[Mil_Man54]

Still at it pumper.....is AD looking over your shoulder and got you nervous......hope he's impressed.....I know we all are......LOL