# EDGAR Filing Document

**Accession Number:** 0001771885
**File Stem:** 0001062993-25-016341
**Filing Date:** 2025-10
**Character Count:** 42850
**Document Hash:** 3da6f26236df50208062ae794380ecb0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-25-016341.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0001062993-25-016341

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20240925

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Quantum Biopharma Ltd.
- **CENTRAL INDEX KEY:** 0001771885
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39152
- **FILM NUMBER:** 251426178

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 55 UNIVERSITY AVENUE, SUITE 1003
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2H7
- **BUSINESS PHONE:** (416) 854-8884

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 55 UNIVERSITY AVENUE, SUITE 1003
- **CITY:** TORONTO
- **PROVINCE COUNTRY:** A6
- **ZIP:** M5J 2H7

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FSD Pharma Inc.
- **DATE OF NAME CHANGE:** 20190327

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

For the month of <u>**October 2025**</u>

Commission File Number: <u>**001-39152**</u>

**<u>QUANTUM BIOPHARMA LTD.</u>**

(Registrant)

**1 Adelaide Street East, Suite 801**

<u>**Toronto, Ontario M5C 2V9**</u>

(Address of Principal Executive Offices)

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

------

<u>**SIGNATURES**</u><br>

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **QUANTUM BIOPHARMA LTD.** | **QUANTUM BIOPHARMA LTD.** |
|  | (Registrant) | (Registrant) |
| Date October 28, 2025 | By | /s/ Donal Carroll |
|  |  | Donal Carroll |
|  |  | Chief Financial Officer |

---

------

<u>**EXHIBIT INDEX**</u>

---

| | |
|:---|:---|
| **Exhibit** | <u>**Description of Exhibit**</u> |
| [99.1](exhibit99-1.htm) | [Press Release dated September 25, 2024 - Quantum BioPharma to Present at Global Growth and Investment Conference Presented by ArcStone Securities and Investments and Kingswood US](exhibit99-1.htm) |
| [99.2](exhibit99-2.htm) | [Press Release dated December 10, 2024 - Quantum Biopharma Announces that the Safety Review Committee Recommends Commencing Dosing of Second Cohort in the Phase 1 Multiple Ascending Dose Clinical Trial for Lucid-21-302 (Lucid-MS)](exhibit99-2.htm) |
| [99.3](exhibit99-3.htm) | [Press Release dated March 17, 2025 - Quantum BioPharma is Unaware of Any Material Change](exhibit99-3.htm) |
| [99.4](exhibit99-4.htm) | [Press Release dated March 20, 2025 - Quantum BioPharma Continues to Grow Its Crypto Assets and Diversify Its Treasury with the Purchase of Another USD $1,500,000 Worth of Bitcoin (BTC) and Other Cryptocurrencies](exhibit99-4.htm) |
| [99.5](exhibit99-5.htm) | [Press Release dated August 11, 2025 – Quantum BioPharma Announces Update to Previously Announced Private Placement](exhibit99-5.htm) |
| [99.6](exhibit99-6.htm) | [Press Release dated September 26, 2025 – Quantum BioPharma Announces Corporate Updates](exhibit99-6.htm) |

---

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## Exhibit 99.1

------

**Quantum BioPharma to Present at Global Growth and Investment Conference Presented by ArcStone Securities and Investments and Kingswood US**

**TORONTO, ON** / **ACCESSWIRE** / **September 25, 2024** / Quantum BioPharma Ltd. (formerly, FSD Pharma Inc.) (NASDAQ:QNTM) (CSE:QNTM) (FRA:0K91) ("Quantum BioPharma" or the "Company"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, is pleased to announce that Jason Sawyer, Head of Finance and Mergers and Acquisitions, will present at the ArcStone-Kingswood Growth Summit held on September 26, 2024, in Toronto, ON. The event will feature over 30 public and private companies and 47 sponsors from around the world.

Mr. Jason Sawyer, Head of Finance and Mergers and Acquisitions, will be a speaker and participate in panels discussing the growth potential of the company and connecting with key investors. This event is intended to create meaningful public companies that drive value for both management and investors. The event is being held at the Sheraton Hotel in downtown Toronto, ON.

Presentation time slot: 2:45p.m. - 2:55p.m. followed by 2 minutes of Q&A.

**About Quantum BioPharma Ltd.**

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("Lucid"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid- MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd™ and spun it out its OTC version to a company, Celly Nutrition Corp. ("Celly Nutrition"), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of March 31, 2024) of Celly Nutrition at <u>www.cellynutrition.com</u>. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Additionally, Quantum BioPharma retains a large tax loss carry forward of approximately C$130 million and could be utilized in the future to offset tax payable obligations against future profits. Quantum BioPharma retains 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

------

About ArcStone Securities and Investments Corp.

ArcStone Securities and Investments Corp. is a diversified financial services firm with offices in New York and Toronto. Our firm specializes in providing bespoke solutions to mid-market companies worldwide, with a particular focus on cross-border transactions between Canada and the United States. Our partnership with Kingswood US enhances our ability to offer a full spectrum of financial services to our clients.

\*\*For more information or to register for the conference, please contact\*\*:

Investor Relations

ArcStone Securities and Investments Corp.

*Email: <u>info@arcstonesecurities.com</u>*

Jack Bensimon, B.A. (Hon), LL.M., CAMS

Managing Partner

ArcStone Securities and Investments Corp.

T: (416) 985-0757

E: <u>jack@arcstoneglobalsecurities.com</u>

Cautionary Note Regarding Forward-Looking Information

*This press release contains certain "forward-looking statements" within the meaning of applicable Canadian securities law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the Company conducting future phase 2 studies; the Company's focus on the research and development of Lucid-MS to prevent and reverse myelin degradation; the Company's intention to utilize its large tax loss to offset future tax payable obligations against future profits; the Company's intention to retain 100% of the rights to develop products for pharmaceutical and medical uses; and the Company's intention to maintain a portfolio of strategic investments through FSD Strategic Investments Inc.*

------

*Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company conducting future phase 2 studies; the Company's assessment of market conditions, its ability to gain market share, and its potential competitive edge are accurate; the Company will have the ability to carry out its plans with respect to its new innovation and offerings, including its ability to conduct research and development of Lucid-MS; the Company will retain 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses; the Company will seek new business opportunities; the Company will increase efficiency in its processes and partnerships; and the Company will have the ability to carry out its other goals and objectives.*

*These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to carry out its plans with respect to its new innovation, offerings and studies; the Company's inability to utilize its tax loss; the Company's inability to retain 100% of the rights to develop products for pharmaceutical or medical uses; and the Company's inability to enhance its product development capabilities and/or maintain a portfolio of strategic investments; and the risks discussed in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2023, final short form base shelf prospectus dated December 22, 2023 and registration statement on Form F-3 containing a base shelf prospectus, each under the heading "Risk Factors". These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list is not exhaustive. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.*

*The reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commission's website at <u>www.sec.gov</u> for a more complete discussion of such risk factors and their potential effects.*

Contacts:

Quantum BioPharma Ltd.

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board

------

Email: <u>Zsaeed@quantumbiopharma.com</u>

Telephone: (416) 854-8884

Investor Relations

Email: <u>ir@quantumbiopharma.com</u>, <u>info@quantumbiopharma.com</u>

Website: <u>www.quantumbiopharma.com</u>

Contact Information

Zeeshan Saeed

*Founder, CEO and Executive Co-Chairman of the Board <br> <u>zsaeed@quantumbiopharma.com</u>*

416-854-8884

SOURCE: Quantum Biopharma Ltd.

------

## Exhibit 99.2

------

![](exhibit99-2xu001.jpg)

**Quantum Biopharma Announces that the Safety Review Committee <br>Recommends Commencing Dosing of Second Cohort in the Phase 1 Multiple**

**Ascending Dose Clinical Trial for Lucid-21-302 (Lucid-MS)**

**Toronto, Ontario - December 10, 2024** - Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE:

QNTM) (FRA: 0K91) ("**Quantum BioPharma**" or the "**Company**"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, today announces through its subsidiary, HUGE Biopharma Australia Pty Ltd., that the safety review committee recommends commencing dosing of the second cohort in its trial entitled "A Phase 1, Randomised, Double-Blind, Placebo-Controlled, Multiple Ascending Dose Study to Evaluate the Safety and Pharmacokinetics of Lucid-21-302 in Healthy Adult Participants." The safety review committee made this recommendation after reviewing safety and pharmacokinetic data from participants in the first cohort.

"Our clinical development team is delighted at the progress in this trial," said Dr. Andrzej Chruscinski, Vice-President, Scientific and Clinical Affairs at Quantum Biopharma. "We are thrilled that the safety review committee recommended to move forward with dosing of the next cohort, which is expected to commence in the next few days."

**About Quantum BioPharma Ltd.**

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("**Lucid**"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid- MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented UNBUZZD™ and spun out its OTC version to a company, Celly Nutrition Corp. ("**Celly Nutrition**"), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of June 30, 2024) of Celly Nutrition at <u>www.unbuzzd.com</u>. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Additionally, Quantum BioPharma retains a large tax loss carry forward of approximately C$130 million and could be utilized in the future to offset tax payable obligations against future profits. Quantum BioPharma retains 100% of the rights to develop similar product or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

------

**Forward-Looking Information**

*Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the stated terms, use of proceeds, and timeline of the Offering; and the Company's issuance of the Debentures, Warrants (and the underlying Warrant Shares if exercised), and potential issuance of Shares (if the Debentures are converted).*

*Forward-looking information in this press release are based on certain assumptions and expected future events, including but not limited to: the Company has the ability to carry out the Offering as stated; and the Company has the ability to issue the Debentures, Warrants (and the underlying Warrant Shares if exercised), and Shares (if the Debentures are converted).*

*These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to carry out the Offering as stated; and the Company's inability to issue the Debentures, Warrants (and the underlying Warrant Shares if exercised), and Shares (if the Debentures are converted), as well the reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commission's website at <u>www.sec.gov</u> for a more complete discussion of such risk factors and their potential effects.*

*Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.*

*Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward- looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward- looking information, except as required by applicable law.*

**Contacts:**

Quantum BioPharma Ltd.

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board

Email: <u>Zsaeed@quantumbiopharma.com</u>

Telephone: (416) 854-8884

------

Investor Relations

Email: <u>ir@quantumbiopharma.com</u>, <u>info@quantumbiopharma.com</u>

Website: <u>www.quantumbiopharma.com</u>

------

## Exhibit 99.3

------

**QUANTUM BIOPHARMA UNAWARE OF ANY MATERIAL CHANGE**

Toronto, Ontario - March 17, 2025 -- At the request of the Canadian Investment Regulatory Organization, Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) (the "**Company**") wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity.

**About Quantum BioPharma**

Quantum BioPharma (NASDAQ: QNTM) is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("**Lucid**"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd™ and spun out its OTC version to a company, Celly Nutrition Corp. ("**Celly Nutrition**"), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of June 30, 2024) of Celly Nutrition at <u>www.unbuzzd.com</u>. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum BioPharma retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property. For more information visit <u>www.quantumbiopharma.com</u>.

**Contacts:**

Quantum BioPharma Ltd.

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board

Email: <u>Zsaeed@quantumbiopharma.com</u>

Telephone: (416) 854-8884

Investor Relations

Email: <u>ir@quantumbiopharma.com</u>, <u>info@quantumbiopharma.com</u>

Website: <u>www.quantumbiopharma.com</u>

------

## Exhibit 99.4

------

![](exhibit99-4x1x1.jpg)

**Quantum BioPharma Continues to Grow Its Crypto Assets and Diversify Its <br>Treasury With the Purchase of Another USD $1,500,000 Worth of Bitcoin (BTC) <br>and Other Cryptocurrencies**

TORONTO, March 20, 2025 -- Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) ("**Quantum BioPharma**" or the "**Company**"), is pleased to announce that after receiving approval from the Board of Directors, the Company has purchased an additional USD $1,500,000 worth of Bitcoin (BTC) and other cryptocurrencies, growing and increasing its crypto assets as part of its strategic efforts. This brings the total amount of Bitcoin (BTC), and other cryptocurrencies purchased to USD $3,500,000. As previously announced, the company will continue to allow for future financings and other transactions to be carried out in cryptocurrency.

This move reflects the company's belief in the potential of Bitcoin (BTC) and other currencies to provide a return on investment for shareholders and to provide some hedge against the dollar. The company is now set up to receive financing in cryptocurrencies as well as executing other types of transactions in cryptocurrencies, improving the prospects of further financing as needed.

The company is holding all its cryptocurrency with a fully compliant custodian. The company emphasizes that all transactions are and will be fully compliant with all relevant financial and audit regulations, ensuring a secure and legal process.

The Company will continue to monitor market conditions and may increase or decrease its holdings of Bitcoin (BTC) or other cryptocurrencies as it deems appropriate.

**About Quantum BioPharma Ltd.**

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("**Lucid**"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented UNBUZZD™ and spun out its OTC version to a company, Celly Nutrition Corp. ("**Celly Nutrition**"), led by industry veterans. Quantum BioPharma retains ownership of 25.71% (as of June 30, 2024) of Celly Nutrition at <u>www.unbuzzd.com</u>. The agreement with Celly Nutrition also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum BioPharma retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

**Forward-Looking Information**

*Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward- looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements related to such.*

*Forward-looking information in this press release are based on certain assumptions and expected future events.*

*These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commission's website at <u>www.sec.gov</u> for a more complete discussion of such risk factors and their potential effects.*

*Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.*

*Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.*

**Contacts:**

------

**Quantum BioPharma Ltd.**

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board

Email: <u>Zsaeed@quantumbiopharma.com</u>

Telephone: (833) 571-1811

**Investor Relations**

Chris Tyson

Executive Vice President

MZ North America

Direct: 949-491-8235

<u>QNTM@mzgroup.us</u>

<u>www.mzgroup.us</u>

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## Exhibit 99.5

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![](exhibit99-5x1x1.jpg)

**QUANTUM BIOPHARMA ANNOUNCES UPDATE TO PREVIOUSLY ANNOUNCED PRIVATE PLACEMENT**

**Toronto, Ontario, August 11, 2025** - - Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) ("**Quantum BioPharma**" or the "**Company**"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, announces that further to its press release dated June 27, 2025, the Company will be seeking shareholder approval of its non-brokered private placement of class A multiple voting shares ("**MVS**") for aggregate gross proceeds of up to $600 (the "**Offering**") at its upcoming annual general and special meeting being held on September 26, 2025 (the "**Meeting**").

The Company expects that the entirety of the Offering will be subscribed for by the existing holders of MVS. The Offering is expected to close on or about September 26, 2025, subject to receiving the requisite shareholder approval at the Meeting. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws of Canada. The Company intends to use the proceeds of the Offering for general working capital purposes. For further details on the Offering, including Multilateral Instrument 61-101 *- Protection of Minority Security Holders in Special Transactions* disclosure, refer to the Company's press release dated June 27, 2025.

The Company has filed a material change report more than 21 days before the expected closing of the Offering in accordance with MI 61-101 on its SEDAR+ profile.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

**About Quantum BioPharma**

Quantum BioPharma (NASDAQ: QNTM) is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("**Lucid**"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd™ and spun out its OTC version to a company, Unbuzzd Wellness Inc. (formerly Celly Nutrition Corp.), led by industry veterans. Quantum BioPharma retains ownership of 20.11% (as of March 31, 2025) of Unbuzzd Wellness Inc. The agreement with Unbuzzd Wellness Inc. also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum BioPharma retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

------

For more information on Quantum BioPharma, please visit <u>www.quantumbiopharma.com</u>.

*This press release contains certain "forward-looking statements" within the meaning of Canadian securities law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as "believes", "anticipates", "expects", "is expected", "scheduled", "estimates", "pending", "intends", "plans", "forecasts", "targets", or "hopes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including the Meeting, Offering and subscription to the Offering by insiders of the Company, and anticipated closing date of the Offering.*

*In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation: the Company's ability to comply with all applicable regulations and laws, including environmental, health and safety laws; receipt of all regulatory approvals; receipt of shareholder approval; the Meeting proceeding as anticipated; the Company having sufficient working capital for future operating activities; the ability of the Company to achieve its business objectives and milestones and the anticipated timing of execution; the Company's ability to continue as a going concern and the Company's ability to use the proceeds from the Offering for the business objectives outlined herein.*

*The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: changes in general economic, business and political conditions, including changes in the financial markets; consents or authorizations required; changes in laws, regulations and policies affecting the Company's operations; currency fluctuations; environmental issues and liabilities; the potential impact of the announcement or consummation of the Offering on relationship, including with regulatory bodies, employees, suppliers, customers and competitors; the inability of the Company to obtain additional financing for continued operations on terms acceptable to the Company; the lack of control over the Company's investees; risks relating to investing in the MVS; risks relating to the use of proceeds from the Offering; volatility in the market price of the shares; dilution of shareholders' holdings; negative operating cash flow; the negative effects of interest rate and exchange rate changes; risks relating to the Company's reliance on key employees; limitations in the liquidity of the MVS; the Company's inability to receive shareholder approval of the Offering at the Meeting; litigation risks; the Company's inability to expand into new business areas and geographic markets; management of growth; and the Company's inability to continue as a going concern.*

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*Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.*

*The reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC's website at <u>www.sec.gov</u> for a more complete discussion of such risk factors and their potential effects.*

**Contacts**

**Quantum BioPharma Ltd.**

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board, Quantum BioPharma Ltd.

Email: <u>info@QuantumBioPharma.com</u>

Telephone: (416) 854-8884

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## Exhibit 99.6

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![](exhibit99-6x1x1.jpg)

**Quantum BioPharma Announces Corporate Updates**

**Toronto, Ontario - September 26, 2025** - Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE:

QNTM) (FRA: 0K91) (Upstream: QNTM) ("**Quantum BioPharma**" or the "**Company**"), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development, today announces the following corporate updates:

<u>Grant of Restricted Stock Units</u>

The Company's board of directors (the "**Board**") authorized and approved the grant of restricted share units (each, an "**RSU**") pursuant to the Company's omnibus equity incentive plan (the "**Equity Incentive Plan**"). The Company granted 32,000 RSUs to each of Zeeshan Saeed, Anthony Durkacz and Donal Carroll (the "**RSU Grant**"). The RSUs granted vest upon the compilation of data which would enable the drafting of a Phase 2 MS Study.

<u>Stock Options Grant</u>

In addition, the Company granted 98,000 options (the "**Options**") to acquire Class B subordinate voting shares in the capital of the Corporation (the "**Class B Shares**") at C$24.50 per Class B Share, pursuant to the Equity Incentive Plan to certain directors, officers, employees and consultants (the "**Option Grant**"). The Options granted vest immediately and expire September 24, 2030.

<u>Statutory Hold Period and Restrictions on Resale</u>

The Options and RSUs (and any Class B Shares issuable upon their settlement or exercise) are subject to a statutory hold period of four months and one day, and were not registered under the U.S. Securities Act and are not permitted to be offered or sold within the United States absent such registration or an applicable exemption from the registration requirements therein.

<u>Related Party Transaction</u>

The RSU Grant and the Option Grant, as they relate to the directors of the Company, constitutes a "related party transaction", as such term is defined in Multilateral Instrument 61-101 - *Protection of Minority Shareholders in Special Transactions* ("**MI 61-101**") due to the grants to the directors, who are members of the Board, and would require the Company to receive minority shareholder approval for, and obtain a formal valuation for the subject matter of, the transaction in accordance with MI 61-101, prior to the completion of the RSU Grant and the Option Grant, as they relate to the directors of the Company. In its consideration and approval of the RSU Grant and the Option Grant, as they relate to the directors of the Company, the Board determined that the RSU Grant and the Option Grant, as they relate to the directors of the Company, were exempt from the formal valuation and minority approval requirements of MI 61-101. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61- 101 contained in respectively, sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the RSU Grant and the Option Grant, as they relate to the directors of the Company, as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61- 101).

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The Company did not file a material change report more than 21 days before the RSU Grant and the Option Grant, as they relate to the directors of the Company, because the details of the grants to related parties to the Company were not settled until shortly prior to the grants, and the Company wished to proceed on an expedited basis for business reasons.

**About Quantum BioPharma Ltd.**

Quantum BioPharma (NASDAQ: QNTM) is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. ("Lucid"), Quantum BioPharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum BioPharma invented unbuzzd™ and spun out its OTC version to a company, Celly Nutrition Corp. ("Celly Nutrition"), now Unbuzzd Wellness Inc., led by industry veterans. Quantum BioPharma retains ownership of 20.10% (as of June 30, 2025) of Unbuzzd Wellness Inc. at <u>www.unbuzzd.com</u>. The agreement with Unbuzzd Wellness Inc. also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum BioPharma total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum BioPharma retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum BioPharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

For more information visit <u>www.quantumbiopharma.com</u>.

**Forward-Looking Information**

*This press release contains forward-looking statements under applicable securities laws, identified by terms like "may," "should," "anticipate," "expect," "potential," "believe," or "intend." These statements, based on assumptions and expected future events, involve risks and uncertainties that may cause actual results to differ materially from those expressed. For more details on risks, see Quantum BioPharma's filings on SEDAR+ (<u>www.sedarplus.ca</u>) and EDGAR (www.sec.gov). Readers should not rely unduly on these statements, as there is no assurance that plans or expectations will occur. The Company assumes no obligation to update these statements except as required by law.*

*The reader is urged to refer to additional information relating to Quantum BioPharma, including its annual information form, which can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the United States Securities and Exchange Commission's website at <u>www.sec.gov</u> for a more complete discussion of such risk factors and their potential effects.*

**Contacts:**

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**Quantum BioPharma Ltd.**

Zeeshan Saeed, Founder, CEO and Executive Co-Chairman of the Board

Email: <u>Zsaeed@quantumbiopharma.com</u>

Telephone: (833) 571-1811

**Investor Relations**

Investor Relations: <u>IR@QuantumBioPharma.com</u>

General Inquiries: <u>info@QuantumBioPharma.com</u>

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