FSD Pharma Updates on Celly Nutrition's New Launch and Financing

FSD Pharma Inc. (NASDAQ: HUGE), (CSE: HUGE), (FRA: 0K9A) has provided an update on its investment in Celly Nutrition Corp. On August 9, 2024, Celly Nutrition announced the launch of unbuzzd™, an innovative product designed to expedite alcohol metabolism and enhance recovery from alcohol consumption. The launch includes convenient stick packs created by a top-tier pharmaceutical R&D team.

Celly Nutrition's product unbuzzd™ aims to revolutionize recovery drinks by helping individuals process alcohol faster and regain mental clarity. This launch is led by industry veterans, including CEO John Duffy, formerly of Coca-Cola, and Co-Chair Gerry David, former CEO of Celsius Holdings. Unbuzzd™ will be available in three-pack and eighteen-pack sizes on Amazon later this month, with plans to introduce 12oz Ready to Drink (RTD) cans.

To support this launch, Celly Nutrition closed its first round of financing, raising $203,469 by issuing 6,833,332 common shares. This marks the initial portion of offerings expected to raise up to $4 million. Proceeds will be used to advance their business plans and for general working capital purposes, with shares subject to a holding period of four months plus one day from the closing date.