Mr. Zeeshan Saeed reports

FSD PHARMA SIGNS AGREEMENT WITH INGENU CRO TO CONDUCT A CLINICAL TRIAL TO DETERMINE THE SAFETY AND EFFICACY EFFECTS OF ITS PROPRIETARY BLEND BEVERAGE UNBUZZD(TM)

FSD Pharma Inc., through its subsidiary, Huge Biopharma Australia Pty. Ltd., entered into an agreement with Ingenu CRO Pty. Ltd. on Feb. 19, 2024, to conduct "A Randomized, Double-Blind, Placebo-Controlled Crossover Study to Assess the Safety and Efficacy of unbuzzd in Healthy Volunteers in an Induced State of Alcohol Intoxication (METAL-1 TRIAL)."

This trial is an important step to further verify that the effects of drinking unbuzzd helps a person sober up faster from the effects of alcohol. FSD Pharma's proprietary dietary supplement product is called unbuzzd. unbuzzd a fortified oral liquid formula that potentially enhances cognition, replenishes cofactors needed for alcohol metabolism and may accelerate the rate of alcohol metabolism in the body, allowing a person to sober up faster. Celly Nutrition Corp. (Celly Nu), led by beverage and marketing icons Gerry David, former chief executive officer of Celsius, John Duffy, former executive of Coca-Cola, and Kevin Harrington, formerly on Shark Tank, is the holder of exclusive rights to FSD Pharma's technology for the recreational sale and use market. Separately, FSD Pharma continues to develop a medical-based product to accelerate the rate of alcohol metabolism for use in hospitals, medical centres and for front-line workers.

"Our R&D team has worked tirelessly over the past year to accumulate science-based information to design the unbuzzd recreational alcohol use formulation. This clinical trial is an important next step to delivering science-based evidence to confirm what we believe we have discovered -- a discovery which could potentially change the rate at which we metabolize alcohol in the body, or in simple terms, sober up faster," said Zeeshan Saeed, CEO and co-founder of FSD Pharma.

About FSD Pharma Inc.

FSD Pharma 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., 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 Pharma has also licensed 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 for use in the consumer recreational sector, to Celly Nutrition and is entitled to a royalty on the revenue generated by Celly Nu from sales of products created using the technology rights granted under the licensing agreement. FSD Pharma continues its R&D activities to develop novel formulations for alcohol misuse disorders and continues the development of such treatments for use in the health care sector. 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.

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