Quantum BioPharma To Receive Settlement Of $2.35 Mln From Former CEO Raza Bokhari

(RTTNews) - Quantum BioPharma Ltd. (QNTM), Friday announced a settlement agreement with Dr. Raza Bokhari, where the former CEO will pay $2.35 million non-dilutive cash to the company to cover legal and other costs incurred over the past four years.

The settlement agreement concludes all outstanding issues and prevents any future litigation in various courts in Canada and the United States.

The company, formerly known as FSD Pharma Inc., added that the agreement also satisfies all outstanding monetary claims by the company, co-chairman and CEO Zeeshan Saeed, co-chairman Anthony Durkacz and other current or former employees, officers, Directors, affiliates or agents of the company as well as any and all legal and monetary claims by Dr. Bokhari.

Notably, Dr. Raza Bokhari, Quantum BioPharma Ltd, Zeeshan Saeed and Anthony Durkacz did not admit to any wrongdoing in the agreement, claiming that they all had been acting in the best interest of the company and shareholders.

In the pre-market hours, QNTM is trading at $12.75, up 1.35 percent on the Nasdaq.