08:45 AM EDT, 10/03/2025 (MT Newswires) -- Quantum BioPharma ( QNTM ) said Friday it has established Oct. 27, as the record date for the distribution of contingent value rights (CVRs) on a one-to-one basis to holders of its class B subordinate voting shares.

The source of any potential payment will be linked to payouts to a US$700 million lawsuit against CIBC, RBC and other banks over alleged stock manipulation. No payments will be due unless the proceeds are actually received. The CVR does not entitle the holder to any other monetary or financial rights of any kind, the company said.

"This record date is a key milestone in aligning potential future recoveries from the company's litigation directly with our shareholders through a simple and enforceable right that pays only if value is realized," said Zeeshan Saeed, chief executive officer.

According to a Quantum June 13 statement, each CVR will entitle the holder to receive a pro rata portion of between 10% to 50% of any net proceeds recovered by the company. The board will approve the exact pay-out percentage at a later date.