The movie is part of the notorious german "SchleFaZ" series. Thus, it was aired December 2019 on german TV station Tele5. ("SchleFaZ" is a german abbreviation, means "the worst films ever". In that series 2 hosts present the whole flick - and make fun of it throughout the movie.)
MK Ultra was a real CIA program that used unwitting subjects to test the effects of LSD
At 1:06:05 as the shark regenerates one of its heads, this is a re-use of an earlier CGI effect.