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  4. [8-K] Sunshine Biopharma Inc. Reports Material Event

Sunshine Biopharma (NASDAQ: SBFM) pays CAD$1.5M to settle Nora Pharma dispute

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Sunshine Biopharma Inc., through its wholly owned subsidiary Nora Pharma Inc., entered into an agreement of transaction and mutual release with Nora’s former president, Malek Chamoun, on July 8, 2026. Under this agreement, Sunshine Biopharma agreed to pay Mr. Chamoun CAD$1,500,000 (approximately US$1,058,565) in full and final settlement of a dispute between the parties. The agreement functions as a comprehensive release, aiming to conclude outstanding claims between the company, Nora, and Mr. Chamoun.

Positive

  • None.

Negative

  • None.

Insights

Settlement resolves an internal dispute with a defined cash cost.

The company committed to pay CAD$1,500,000 (about US$1,058,565) to Nora Pharma’s former president, Malek Chamoun, under a transaction and mutual release agreement. This brings a specific dispute to a contractual conclusion and should reduce management distraction around this issue.

The cash payment represents an outflow from Sunshine Biopharma, but the filing does not quantify its scale relative to revenue or cash on hand. The agreement is dated July 8, 2026, with the form signed on July 10, 2026, providing a clear timeline for when the settlement obligations were established.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Settlement amount CAD$1,500,000 Cash payment agreed to be paid to former Nora Pharma president in full and final settlement of a dispute
Approximate US dollar equivalent US$1,058,565 Approximate U.S. dollar value of the CAD$1,500,000 settlement payment
Agreement date July 8, 2026 Date Sunshine Biopharma and Nora Pharma entered into the Release Agreement with Malek Chamoun
Filing signature date July 10, 2026 Date the report was signed by the Chief Executive Officer of Sunshine Biopharma
Exhibit number for Release Agreement 10.1 Exhibit in which the full text of the Release Agreement is filed
material definitive agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
mutual release legal
"entered into an agreement of transaction and mutual release"
wholly-owned subsidiary financial
"the Company’s wholly-owned subsidiary, Nora Pharma Inc."
A wholly-owned subsidiary is a company whose entire ownership is held by another company, called the parent, so the parent controls all shares, board appointments and major decisions. For investors this matters because the subsidiary’s profits, losses, assets and liabilities are treated as part of the parent’s financial picture, affecting valuation and risk exposure — imagine a parent owning a single storefront outright and consolidating its receipts and bills into the parent’s books.
full and final settlement legal
"in full and final settlement of a dispute between the parties"
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

What agreement did Sunshine Biopharma (SBFM) enter into on July 8, 2026?
Sunshine Biopharma entered into an agreement of transaction and mutual release with Nora Pharma Inc. and former Nora president Malek Chamoun, resolving a dispute between the parties through a defined settlement payment.

How much is Sunshine Biopharma (SBFM) paying in the settlement with Malek Chamoun?
Sunshine Biopharma agreed to pay CAD$1,500,000, described as approximately US$1,058,565, to former Nora Pharma president Malek Chamoun as full and final settlement of a dispute between them.

Who are the parties to Sunshine Biopharma’s (SBFM) Release Agreement?
The Release Agreement is among Sunshine Biopharma Inc., its wholly owned subsidiary Nora Pharma Inc., and Malek Chamoun, who previously served as president of Nora Pharma, settling a dispute between these parties.

What is the purpose of the settlement disclosed by Sunshine Biopharma (SBFM)?
The payment of CAD$1,500,000 to Malek Chamoun is described as being in full and final settlement of a dispute between Sunshine Biopharma, its subsidiary Nora Pharma, and Mr. Chamoun, and is tied to a mutual release agreement.

Where can investors find the full terms of Sunshine Biopharma’s (SBFM) Release Agreement?
The company states that the summary is qualified by the full Release Agreement, which is filed as Exhibit 10.1, allowing investors to review the complete contractual terms in that exhibit.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 8, 2026

 

SUNSHINE BIOPHARMA INC.

(Exact name of registrant as specified in its charter)

 

Colorado 001-41282 20-5566275

(State or other jurisdiction

of incorporation)

 (Commission File Number) (IRS Employer ID No.)

 

333 Las Olas Way, CU4 Suite 433

Fort Lauderdale, FL 33301

(Address of principal executive offices) (Zip Code)

 

(954) 330-6684

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class Trading Symbol Name of Each Exchange on Which Registered
     
Common Stock, par value $0.001 SBFM The Nasdaq Stock Market LLC
Common Stock Purchase Warrants SBFMW The Nasdaq Stock Market LLC

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

   

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On July 8, 2026, Sunshine Biopharma Inc. (the “Company”) and the Company’s wholly-owned subsidiary, Nora Pharma Inc. (“Nora”) entered into an agreement of transaction and mutual release (the “Release Agreement”) with Malek Chamoun, the former president of Nora. Pursuant to the Release Agreement, the Company agreed to pay Mr. Chamoun CAD$1,500,000 (approximately US$1,058,565) in full and final settlement of a dispute between the parties.

 

The foregoing description of the Release Agreement is qualified by reference to the full text of the Release Agreement, which is filed as an exhibit to this report.

 

Item 9.01. Financial Statements and Exhibits.

 

Exhibit No.   Description
10.1   Release Agreement
104   Cover Page Interactive Data File (formatted in Inline XBRL).

 

 

 

 

 

 

 

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: July 10, 2026 SUNSHINE BIOPHARMA INC.
   
   
  By: /s/ Dr. Steve N. Slilaty                                           
 

Name: Dr. Steve N. Slilaty

Title: Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Source: View Original Filing on SEC EDGAR

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