FSD Pharma Rebuts Claims of GBB Drink Lab now acquired by Jupiter Wellness Inc. Trading under the symbol (NASDAQ

JUPW)

FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma” or the “Company”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders, today provides clarity and rebuttal to frivolous claims disparaging the Company and its groundbreaking efforts relating to its development of an innovative rapid alcohol detoxification drink, using its proprietary formulation developed to reduce the impacts of alcohol consumption.

In May 2023, GBB Drink Lab (“GBB”) now operating under Jupiter Wellness (Nasdaq:JUPW) filed a lawsuit against FSD Pharma and FSD Biosciences, and issued a press release (link below) alleging a material breach of a mutual nondisclosure agreement and trade secret misappropriation. These claims are categorically untrue.

GBB’s public statements about its knowledge of this technology are, at best, suspect. GBB’s website states that its own supplement’s alleged efficacy “was established via rigorous blood alcohol content testing on dozens of test subjects,” (emphasis added) rather than any sort of formal, clinical validation effort.² Further, GBB’s press release states that “Our patented formula accelerates the process of converting alcohol to sugar in the body (link below).”¹ But it is well-recognized and understood by the scientific community that at no point in the process of metabolizing alcohol is it converted into sugar. FSD Pharma believes that GBB’s failure to appreciate this basic fact demonstrates a lack of understanding regarding the basics of alcohol metabolism in the body.

GBB was recently acquired by Jupiter Wellness, Inc. (Nasdaq: JUPW). In a press release (link below) announcing the closing of the acquisition on August 11, 2023, Jupiter claims that GBB’s proposed product now called Safety Shot “lowers blood alcohol content by up to 50% in just 30 minutes (link below),”³ another extraordinary claim for which GBB provides no support whatsoever.

In 2022 GBB drink lab tried to sell itself to FSD Pharma. During the due diligence process, FSD Pharma determined that GBB’s proposed product did not meet FSD Pharma’s expectations, that GBB did not provide requested information, and that GBB repeatedly tried to change the proposed structure of any deal. Furthermore, FSD Pharma had serious concerns about the patents at issue. Since then, FSD Pharma, through its team of world class scientists, doctors, and researchers, established a research program and developed its own products. Upon learning of the FSD Pharma’s efforts, GBB filed a frivolous lawsuit and baselessly demanded tens of millions of dollars. FSD Pharma will vigorously defend against these claims, and plans to assert its own claims for damages that will expose GBB and its baseless assertions.