Quantum BioPharma to be in court with Raza Bokhari on January 24

Quantum BioPharma (QNTM) will be back in the Ontario Superior Court of Justice on January 24, 2025. Quantum BioPharma is seeking a Court Order declaring Dr. Raza Bokhari, current CEO of Medicus Pharma, to be a vexatious litigant. Dr. Raza Bokhari was CEO of FSD Pharma (HUGE) now Quantum BioPharma, in 2019 and was terminated for cause in July 2021. As previously disclosed in Quantum BioPharma’s news releases issued May 11, 2023, October 4, 2023 and February 5, 2024, Arbitrator Cunningham dismissed Dr. Bokhari’s claim that the Company had wrongfully dismissed him, awarding FSD Pharma approximately C$2.81M in costs of the arbitration plus interest. Also, $175,000 in costs were awarded by Justice Conway in respect of the set aside application, and $5,000 in costs were awarded by the Court of Appeal in respect of Dr. Raza Bokhari’s failed motion for leave to appeal. Dr. Raza Bokhari filed a re-consideration motion with the Court of Appeal of Ontario which is pending. Quantum BioPharma filed and served a Petition to Confirm Arbitration Award in the United States District Court for the Eastern District of Pennsylvania to formally begin the process to collect the monies awarded from Dr. Raza Bokhari. An Order was granted and Judgment was entered in favor of FSD Pharma, now Quantum BioPharma, and against respondent Dr. Raza Bokhari on June 27, 2024 as follows: 1. $147,301.04 plus interest at a rate of 4% per annum from November 9,2022, until the date the Judgment is satisfied, accruing interest of $16.14 per day; 2. C$31,912.55 plus interest at a rate of 4% per annum from November 9,2022, until the date the Judgment is satisfied, accruing interest of C$3.49 per day; 3. C$15,000, plus interest at a rate of 4% per annum from March 1, 2023,until the date the Judgment is satisfied, accruing interest of C$1.64 per day; and 4. C$2,814,229.15, plus interest at a rate of 6% per annum from May 7, 2023 until the date the Judgment is satisfied, accruing interest of $462.61 per day. Dr. Raza Bokhari also appealed this Order and Judgment and was granted stay and provided the supersedeas bond for $2,882,441.48 through the date of the issuance of the mandate by the United States Court of Appeals for the Third Circuit. Judgment by the United States Court of Appeals is pending.