Quantum BioPharma announces intention to declare special dividend of CVRs

Quantum BioPharma announced its intention to declare a special dividend consisting of Contingent Value Rights to be issued on a 1:1 basis to holders of the Company’s Class B Subordinate Voting Shares. Each CVR will entitle the holder to receive a pro rata portion of a minimum of 10% and a maximum of 50% of the net proceeds, ultimately recovered by the Company, if any, in connection with its legal action against CIBC World Markets, RBC Dominion Securities, and others, which seeks damages in excess of $700+ million related to alleged stock price manipulation and spoofing. The Board will approve the exact pay-out percentage at a later date. The record date for the proposed special dividend has not yet been set, and the Company will provide further updates in due course. The CVRs: Will not be listed on any exchange or marketplace; Will be non-transferable and non-assignable; Will not carry interest or voting rights; Will be redeemable only for cash, and only in the event that the Company receives net proceeds from a resolution of the Litigation.