FSD Pharma Announces Expansion of Loan to Celly Nutrition to Support New Beverage Launch

FSD Pharma Inc., a NASDAQ-listed firm, recently updated its financial involvement with Celly Nutrition Corp., echoing its stake in the latter's forthcoming wellness product. Celly Nutrition, a Canadian company, has developed an innovative beverage aimed at enhancing alcohol metabolism and ensuring quicker recovery after consumption. FSD Pharma has expanded its investment, increasing the principal of the existing term loan by $300,000, bringing the total to $1,300,000.

The enhanced loan agreement allows Celly Nutrition to defer the interest payment initially due on the first anniversary of the term loan to the second anniversary. FSD Pharma retains the option to convert any unpaid amounts into Celly Nu's common shares in case of a default. The agreement prolongs the loan’s interest accrual at 10% annually until its expiration on July 31, 2026.

The proceeds from the loan are earmarked for production of unbuzzd™, Celly Nutrition's beverage. This new product is scientifically designed to improve mental alertness and facilitate faster alcohol detoxification. John Duffy, CEO of Celly Nutrition, expressed his gratitude towards FSD Pharma for their continued support, which helps bring this innovative product to the North American Market.