Unbuzzd Wellness Announces Loan Amendment, Warrant Cancellation, and Acquisition of Licensed Intellectual Property Ready to Announce with Confidence?
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - Unbuzzd Wellness Inc. (the "Company" or "Unbuzzd"), the company behind unbuzzd™, announces that it entered into a second loan amending agreement (the "Loan Amendment") and a warrant cancellation and release agreement (the "Warrant Cancellation Agreement") with Quantum BioPharma Ltd. ("Quantum") on October 13, 2026.
LOAN AMENDMENT
The Loan Amendment extends the maturity date of the Company's secured loan from July 31, 2026 to December 31, 2027. As at July 31, 2026, the outstanding principal was C$1,300,000 and accrued and unpaid interest was C$370,000. Interest continues to accrue at 10% per annum, calculated on the basis of the actual number of days elapsed and a 365-day year, or a 366-day year in a leap year, without compounding. No interest is required to be paid before December 31, 2027. All outstanding principal, accrued and unpaid interest and other amounts owing under the loan are due on December 31, 2027, subject to voluntary prepayment without notice, bonus, premium or penalty.
The Loan Amendment preserves Quantum's existing right, following an event of default, to convert outstanding principal and accrued and unpaid interest into common shares of the Company at C$0.72 per post-consolidation common share, subject to the existing adjustment provisions. The Loan Amendment does not create or permit a conversion right before an event of default.
Quantum waived each failure by the Company to pay principal or interest under the loan agreement on or before the date of the Loan Amendment. The Company confirmed that its existing security remains in full force and effect and continues to secure its obligations under the loan agreement, as amended by the Loan Amendment.
ROYALTY DEFERRAL
The Loan Amendment also defers, without interest, each retained royalty amount payable but unpaid before the date of the Loan Amendment and each retained royalty amount accruing or becoming payable from the date of the Loan Amendment through December 31, 2027. The deferred amounts are due and payable in full on December 31, 2027. The deferral does not defer or waive royalty calculation, reporting, record-keeping, audit or reconciliation obligations and does not change the royalty rate, calculation methodology, audit rights or aggregate threshold.
WARRANT CANCELLATION
Under the Warrant Cancellation Agreement, dated October 13, 2026, Quantum irrevocably surrendered and cancelled its warrants originally issued by the Company on July 31, 2023 upon execution of that agreement and payment of C$1 by the Company. The warrants immediately ceased to be outstanding and are of no further force or effect. Quantum released claims arising from or relating to the warrants, subject to the carve-outs set out in the Warrant Cancellation Agreement.
RELATED INTELLECTUAL PROPERTY TRANSACTION
The Company also entered into an intellectual property transfer and assignment agreement with Quantum, Lucid Psycheceuticals Inc. concurrently with the Loan Amendment and Warrant Cancellation Agreement. Under that agreement, certain intellectual property was transferred to the Company for C$1 and the retained royalty was preserved.
RELATED-PARTY CONSIDERATIONS
Quantum is a significant shareholder of the Company. Zeeshan Saeed and Dr. Eric Hoskins are directors of both the Company and Quantum. Each disclosed in writing the nature and extent of his disclosable interest in the transactions and abstained from voting. The directors entitled to vote determined that the transactions were commercially reasonable, fair to the Company and in the best interests of the Company.
ABOUT UNBUZZD WELLNESS INC.
Unbuzzd Wellness Inc., a non-trading but fully reporting public issuer, stands as a pioneering force in the wellness and recovery supplement landscape. unbuzzd™ has been developed by a world-class R&D team in pharmacology and medicine, with a commitment to innovation and quality. A proprietary blend of vitamins, minerals and herbs, unbuzzd™ helps your body process alcohol faster, restore mental alertness and improve cognition so you can drink responsibly and feel great the next day. unbuzzd™ ready-to-mix powder sticks are available in 3-pack, 8-pack and 18-pack formats at https://unbuzzd.com.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Michael "Zappy" Zapolin
Chief Executive Officer
T: (617) 447-9012
E: zappy@unbuzzd.com
Product Disclaimer
The Company makes no medical, treatment or health benefit claims about unbuzzd™. Claims regarding unbuzzd™ have not been evaluated by the U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities. Individual results may vary. unbuzzd™ is a dietary supplement. Consuming unbuzzd™ after alcohol ingestion does not permit you to operate a vehicle. Drink responsibly. DO NOT DRINK AND DRIVE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319091
Source: Unbuzzd Wellness Inc.
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