Q BioMed Inc. announced that it has entered into an agreement for a private placement of up to 16,000,000 units at a price of $1.25 each for gross proceeds of $20,000,000 on May 5, 2021. The transaction will include participation from Aedesius Holdings Ltd. Each unit consists of one share of our common stock and half a warrant to purchase a share of our common stock. The Warrants are exercisable until October 31, 2021.

The company may receive funding in tranches until September 30, 2021. As part of the transaction, Aedesius Holdings Ltd. will take a seat on Q BioMed Inc.'s board.