FSD Pharma Inc. Appoints a New Independent Director
June 03 2021 - 9:00AM
Business Wire
FSD Pharma Inc. (Nasdaq: HUGE) (CSE:HUGE) (FRA:0K9) (the
“Company” or “FSD”) is pleased to announce the
appointment of Mr. Adnan Bashir as an independent member of its
Board of Directors (the “Board”), upon the recommendation of
the Company’s Compensation, Nomination and Governance
Committee.
As previously announced, Mr. Frank Lavelle was elected to the
Board at the Company’s annual general and special meeting of
shareholders held on May 14th, 2021 (the “Meeting”). Shortly
after the Meeting, Mr. Lavelle communicated his resignation to the
Board, leaving a vacancy, and Mr. Bashir has been appointed to fill
that vacancy. The Board considers Mr. Bashir to be “independent”
within the meaning of applicable securities legislation.
Mr. Bashir has over 14 years of experience in strategic
management and operations. In the last decade, Mr. Bashir was
General Manager for Al Batha group, a diversified business
conglomerate based in Dubai, UAE. Mr. Bashir was responsible for
overseeing the management and operations of 4 companies within the
group and was instrumental in acquiring and developing new
businesses and partners from Europe, the US and China. Mr. Bashir
also has extensive experience in executing turnaround strategies,
transforming weak businesses into sustainable and profitable ones,
and implementing new technologies. Mr. Bashir holds a Bachelor of
Science Degree in Mechanical Engineering from University of
Engineering and Technology Lahore and has completed extensive
executive education, including in strategic management, audit,
sales management and technical management.
“Adnan’s wealth of experience will add significant value to our
Board,” Anthony Durkacz commented. “We look forward to working with
him as we restore FSD.”
The Board is now comprised of Anthony Durkacz, Zeeshan Saeed,
Nitin Kaushal, Lawrence (Larry) Latowsky, Fernando Cugliari, Donal
Carroll and Adnan Bashir.
FSD also announces the grant of stock options to directors and
officers of the Company to purchase up to an aggregate of 2,170,000
Class B subordinate voting shares in accordance with the Company’s
stock option plan. The options are exercisable at a price of C$2.25
per share and will expire three years from the date of grant.
About FSD Pharma
FSD Pharma Inc. (www.fsdpharma.com) is a publicly-traded holding
company.
FSD BioSciences, Inc., a wholly-owned subsidiary, is a specialty
biotech pharmaceutical R&D company focused on developing
multiple applications of its lead compound, ultramicro PEA by
down-regulating the cytokines to effectuate an anti-inflammatory
response.
Forward Looking Information
Certain statement contained herein are “forward-looking
statements”. Often, but not always, forward-looking statement can
be identified by the use of words such as “plans”, “expects”,
“expected”, “scheduled”, “estimates”, “intends”, “anticipates” or
“believes”, or variations of such words and phrases, or states that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, occur or be achieved. Forward-looking
statements contained in this press release include the statement
made by Anthony Durkacz regarding working with Mr. Bashir and
restoring FSD. FSD cannot give any assurance that such
forward-looking statements will prove to have been correct. The
reader is cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
document.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210603005605/en/
For additional information, please contact: Anthony Durkacz
adurkacz@fsdpharma.com
Zeeshan Saeed zsaeed@fsdpharma.com
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