Mr. Zeeshan Saeed reports

UPDATE PROVIDED ON GBB DRINK LAB, INC. LITIGATION AND SAFETY SHOT PREVIOUSLY KNOWN AS JUPITER WELLNESS

FSD Pharma Inc. has provided an update regarding its litigation with GBB Drink Lab Inc.

In May, 2023, GBB filed a lawsuit against FSD Pharma alleging a material breach of a mutual non-disclosure agreement and trade-secret misappropriation. FSD Pharma has categorically denied these allegations and filed a motion to dismiss the lawsuit, which is currently pending (see prior press release from August).

In the few months since filing its lawsuit against FSD Pharma, GBB began operating under the name Jupiter Wellness Inc., which acquired GBB's purported "asset" known as its Safety Shot product, which now trades under the name Safety Shot Inc. Regardless of the name it currently uses, GBB continues to try to use bully tactics in an effort to intimidate its competitors and critics through threats of litigation. Just as it has with FSD Pharma, Safety Shot has now issued additional press releases suggesting it intends to sue others, including its most-recent public critic, Capybara Research, arising out of Capybara's most recently published research paper regarding Safety Shot.

GBB's statements about its Safety Shot product, which Safety Shot claims will be released next month, have also been suspect. GBB has claimed that its product "accelerates the process of converting alcohol to sugar in the body" even though it is well recognized and understood by the scientific community that at no point in the process of metabolizing alcohol is it converted into sugar. Similarly, shortly after Jupiter Wellness acquired GBB's assets, it claimed that GBB's Safety Shot product "lowers blood alcohol content by up to 50 per cent in just 30 minutes," another extraordinary claim for which GBB provided no support. These suspect statements made by GBB and its affiliates should be carefully considered by anyone interested in alcohol detoxification products.

In 2022, GBB Drink Lab tried to sell itself to FSD Pharma. During the due diligence process, FSD Pharma determined that GBB's proposed product did not meet FSD Pharma's expectations, that GBB did not provide requested information, and that GBB repeatedly tried to change the proposed structure of any deal. Furthermore, FSD Pharma had serious concerns about the patents at issue. Since then, FSD Pharma, through its team of world-class scientists, doctors and researchers, established a research program and developed its own products. After learning about FSD Pharma's efforts, GBB embarked on its campaign to file frivolous litigation and baselessly demanding tens of millions of dollars from FSD Pharma, a campaign it now apparently seeks to continue against others as well. FSD will continue to vigorously defend itself against such bully tactics.

FSD Pharma continues to work on development of its alcohol detoxification products for the recreational and medical markets. FSD Pharma's team of scientific experts will adhere to the strict regulatory standards and perform the clinical studies one would expect of any respectable company, like FSD Pharma.

About FSD Pharma Inc.

FSD is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotechnology solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders as well as alcohol-misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., FSD is focused on the research and development of its lead compound, Lucid-MS (formerly Lucid-21-302). Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. FSD is also focused on the research and development of Unbuzzd, a proprietary formulation of natural ingredients, vitamins and minerals to help with liver and brain function for the purposes of quickly relieving individuals from the effects of alcohol consumption. FSD maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represent loans secured by residential or commercial property.

We seek Safe Harbor.