InvestmentPitch Media Video Discusses FSD Pharma’s Granting of Exclusive Rights to Revolutionary Recreational Alcohol Misuse Technology to Celly Nutrition
23 6월 2023 - 7:00PM
FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE) (FSE:0K9A), a
biopharmaceutical company dedicated to building a portfolio of
innovative assets and biotech solutions for the treatment of
challenging neurodegenerative, inflammatory and metabolic
disorders, has entered into a non-binding letter of intent with
1319741 B.C. Ltd., an unlisted reporting issuer, which will be
renamed Celly Nutrition Inc.
It is intended that FSD Pharma and Celly Nutrition
or “Celly Nu” will enter into a definitive licencing and loan
agreement whereby FSD will provide Celly Nu an exclusive licence to
commercialize products developed using FSD’s IP for alcohol misuse
technology for recreational applications.
A Media Snippet accompanying this announcement is
available by clicking on the image or link below:
For more information, please view the
InvestmentPitch Media video which provides additional information
about this news and the company, including video comments from
Kevin Harrington about the new technology. The video is available
for viewing on “InvestmentPitch” and on
“YouTube”. If these links are not enabled, please
visit www.InvestmentPitch.com and enter “FSD
Pharma” in the search box.
Concurrent with closing of the transaction, FSD
intends to loan Celly Nu up to $1,000,000 on a secured basis with a
term of 3 years, bearing interest at 10% per annum. Celly Nu will
pay FSD a licence fee by issuing 100,000,000 shares and a 7%
royalty on gross revenue should a product be commercialized. FSD
may distribute some or all of the Celly Nu shares to its
shareholders in the future.
The product being developed, UNBUZZD™, is designed
to accelerate alcohol detoxification.
Celly Nu will appoint John Duffy as CEO. Mr. Duffy
is a strategy-driven and results-oriented Executive with close to
three decades of successful consumer goods experience. Most
recently, John was Co-Founder, Executive VP and Chief Commercial
Officer at Legends Access LLC where he created and managed the
influencer, social media and e-commerce platforms while developing
partnerships with fortune 500 clients. Prior to Legends Access,
John spent more than 22 years in the Coca-Cola system including
roles of increasing responsibilities across multiple functions,
including Vice President of National Sales, where he led the
customer management team responsible for the Coca-Cola systems’
largest foodservice distributor, Sysco.
FSD’s recently appointed Advisory Board members,
Kevin Harrington and Gerry David, who cumulatively have generated
billions of dollars of sales and value for brands and shareholders,
will be actively involved in Celly Nu, overseeing all operations,
including marketing, with Mr. David taking the position of
Chairman.
Gerry David is best known for his five-year tenure
as CEO at zero-calorie fitness drink maker Celsius Holdings, Inc.
where he spearheaded a turnaround that resulted in a global sales
explosion, influx of capital from notable strategic investors, and
a rise in market capitalization that increased shareholder value
35-fold by exceeding $9 billion.
Gerry David commented: “John is an excellent
communicator with tested organizational skills. He is a rare leader
that has demonstrated expertise across sales, marketing, and
operational functions as well as a passion for the development of
people.”
FSD Pharma’s Zeeshan Saeed and Dr. Lakshmi Kotra
will join the board of Celly Nu.
FSD will retain all rights to medical and
pharmaceutical applications under its umbrella to further develop
the franchise.
Zeeshan Saeed, President and Executive Co-Chairman,
stated: “We chose to differentiate pipelines compartmentalizing the
pharmaceutical products from recreational products to enable it to
be brought to market faster. I am thrilled to provide HUGE
shareholders an extremely rare opportunity to participate in a
company that not only has a strong and diverse pharmaceutical
pipeline, but also venerable marketing gurus Kevin Harrington and
Gerry David are paired for the first time to provide oversight and
direction for a first-in-class product.”
FSD Pharma is a biotechnology company with three
drug candidates in different stages of development.
The shares are trading at US$1.38 on NASDAQ. For
more information on the company’s drug candidates, please visit the
company’s website, www.FSDpharma.com, or contact Zeeshan Saeed,
Founder, President and Executive Co-Chairman, at 416-854-8884 or
email zsaeed@FSDPharma.com or IR@FSDPharma.com.
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Disclaimer
The information in this Investmentpitch Media Ltd
video is for the viewers information only. FSD Pharma has paid a
fee not exceeding $2,000 in cash to have its current news release
produced in video format. The corporate information is based on
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FSD Pharma (NASDAQ:HUGE)
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