- Quantum BioPharma Ltd. has established **October 27, 2025**, as the record date for the distribution of Contingent Value Rights (CVRs) to holders of its Class B Subordinate Voting Shares on a one-for-one basis.  **[1771885_0001171843-25-006258_exh_991.htm:0]** 
- Each CVR entitles the holder to a pro rata portion of a minimum of **10% and up to 50%** of the net proceeds recovered from the company's litigation, which alleges stock price manipulation and spoofing and seeks damages in excess of **USD $700 million**.  **[1771885_0001171843-25-006258_exh_991.htm:0]** 
- The CVRs will **not be listed** on any exchange, are **non-transferable and non-assignable**, do not carry interest or voting rights, and are redeemable only for cash if the company receives net proceeds from the litigation.  **[1771885_0001171843-25-006258_exh_991.htm:1]** 
- There is **no guarantee** that any net proceeds will be received or that any payment will be made under the CVRs.  **[1771885_0001171843-25-006258_exh_991.htm:0]** **[1771885_0001171843-25-006258_exh_991.htm:1]**

Quantum BioPharma announces record date for Contingent Value Rights distribution

- Quantum BioPharma Ltd. has received final reports for two key studies, the **90-day oral toxicity study** and the **toxicokinetic study**, for its potential Multiple Sclerosis drug, Lucid-21-302 ("Lucid-MS").  **[1771885_0001171843-25-006238_exh_991.htm:0]** 
- These reports are critical for supporting an Investigational New Drug (IND) application with the US FDA, which is necessary to initiate a **Phase 2 clinical trial** for Lucid-MS in Multiple Sclerosis.  **[1771885_0001171843-25-006238_exh_991.htm:0]** 
- Management considers these reports an **important milestone**, moving the company significantly closer to starting the Phase 2 trial for Lucid-MS, a drug designed to target demyelination.  **[1771885_0001171843-25-006238_exh_991.htm:0]**

Quantum BioPharma Receives Final Study Reports for Lucid-MS, Advancing Towards Phase 2 Clinical Trial

- Quantum BioPharma Ltd. announced on **October 1, 2025**, the appointment of **Dr. Jack Antel**, a world-renowned multiple sclerosis (MS) expert, as a new clinical advisor for its Lucid-MS program.  **[1771885_0001171843-25-006208_exh_991.htm:0]** 
- Dr. Antel will advise on the **clinical development of Lucid-MS**, including the design of efficacy trials for the investigational drug.  **[1771885_0001171843-25-006208_exh_991.htm:0]** 
- This appointment is expected to be instrumental in **advancing Lucid-MS into a Phase 2 clinical trial** to assess its efficacy in people with MS.  **[1771885_0001171843-25-006208_exh_991.htm:0]** 
- Lucid-MS is a **patented, new chemical entity** designed to inhibit demyelination, the underlying mechanism of multiple sclerosis.  **[1771885_0001171843-25-006208_exh_991.htm:0]** **[1771885_0001171843-25-006208_exh_991.htm:1]**

Quantum BioPharma Appoints Dr. Jack Antel as Clinical Development Advisor

- Quantum BioPharma Ltd.'s licensee, Unbuzzd Wellness Inc., will host an Investor Webinar and Q&A session on **October 1, 2025**, at **4:30 PM EST**, as part of its Reg D 506(c) offering to raise **up to $5 million**.  **[1771885_0001171843-25-006049_exh_991.htm:0]** 
- **Quantum BioPharma shareholders will not be diluted** by Unbuzzd Wellness Inc.'s offering.  **[1771885_0001171843-25-006049_exh_991.htm:0]** **[1771885_0001171843-25-006049_exh_991.htm:1]** 
- Quantum BioPharma holds a **20.10% ownership stake** in Unbuzzd Wellness Inc. (as of June 30, 2025) and is entitled to **royalty payments of 7% of sales** from unbuzzd™ until payments reach **$250 million**, after which the royalty rate becomes 3% in perpetuity.  **[1771885_0001171843-25-006049_exh_991.htm:2]**

Quantum BioPharma's Licensee Unbuzzd Wellness to Host Investor Webinar for Capital Raise

- **Health Canada has granted Quantum BioPharma Ltd. a Product License (PN 80144141) for its natural health product, Qlarity**, enabling the company to sell the product in Canada.  **[1771885_0001171843-25-005957_exh_991.htm:0]** 
- Qlarity is designed to **enhance energy, promote metabolism, mental alertness, and cognitive performance**.  **[1771885_0001171843-25-005957_exh_991.htm:0]** 
- According to CEO Zeeshan Saeed, this license is a **milestone** in Quantum BioPharma's mission to bring innovative products to market.  **[1771885_0001171843-25-005957_exh_991.htm:0]**

Quantum BioPharma Receives Health Canada Product License for Qlarity

- Quantum BioPharma Ltd.'s licensee, **Unbuzzd Wellness Inc.**, will host an investor webinar on **September 16, 2025, at 1:30 PM PT** to discuss a **Reg D 506(c) investment opportunity** and potential initial public offering.  **[1771885_0001171843-25-005877_exh_991.htm:0]** 
- Unbuzzd Wellness aims to raise up to **US$5.0 million** through its Reg D 506(c) offering to support aggressive expansion plans.  **[1771885_0001171843-25-005877_exh_991.htm:0]** 
- Quantum BioPharma Ltd. holds a **20.10% ownership stake** in Unbuzzd Wellness Inc. as of **June 30, 2025**, and its shareholders will **not be diluted** by Unbuzzd's offering.  **[1771885_0001171843-25-005877_exh_991.htm:1]** **[1771885_0001171843-25-005877_exh_991.htm:2]** 
- Quantum BioPharma also has a royalty agreement with Unbuzzd Wellness, entitling it to **7% of unbuzzd sales** until payments reach **$250 million**, after which it drops to **3% in perpetuity**.  **[1771885_0001171843-25-005877_exh_991.htm:2]**

Quantum Biopharma (QNTM)