Quantum BioPharma Ltd. Announces Expiration of All Warrants Held by Hedge Funds and Re-Iterates October 27, 2025, Record Date for the Distribution of a Special Dividend

Executive Summary

• The final tranche of 53,147 warrants issued to hedge funds and investment funds expired at 5 pm EST.
• Quantum BioPharma reaffirmed October 27, 2025 as the record date for distributing one‑for‑one CVRs to holders of its Class B Subordinate Voting Shares.
• Each CVR entitles holders to a pro‑rata share of 10%–50% of net proceeds recovered from litigation against CIBC World Markets, RBC Dominion Securities and others, subject to receipt of qualifying proceeds.

Key Details

• Warrant Expiration: 53,147 warrants (originally part of a pre‑reverse split issuance of 3,454,543 warrants) expired; this was the last tranche issued to hedge funds/investment funds.
• Record Date for CVR Distribution: October 27, 2025 confirmed as the record date for one‑for‑one CVR allocation to Class B Subordinate Voting Shareholders.
• CVR Terms:
• Non‑transferable, non‑assignable; no exchange listing.
• No voting rights or interest; redeemable only for cash upon receipt of qualifying net proceeds from litigation.
• Entitles holder to a minimum of 10% and up to 50% of the net proceeds recovered by the company in the lawsuit.
• Litigation Background: Claims stock price manipulation and spoofing; seeks damages exceeding USD $700 million against CIBC World Markets, RBC Dominion Securities, and others.
• Payment Contingency: CVR payments will occur only if and when the company receives net proceeds from a settlement or final, non‑appealable judgment; no guarantee of receipt or payment.
• Use of Proceeds: Not applicable – CVRs are funded solely from litigation recoveries after deduction of fees, expenses, and costs.

Notable Quotes

(No direct quotes were provided in the release.)