Vancouver, British Columbia – TheNewswire – June 27, 2022. Lexston Life Sciences Corp. (the “Company”) (CSE:LEXT) (OTC:LEXTF) announces an increase to the non-brokered private placement announced on June 1, 2022. The Private Placement has been increased to up to 22,000,000 units (the “Units”) at a purchase price of $0.05 per Unit to raise gross proceeds of up to $1,100,000 (the “Private Placement”). Each unit will consist of one common share in the capital of the Company and one share purchase warrant (a “Warrant”). Each full warrant will entitle the holder to purchase one additional common share in the capital of the Company for a period of five years, at a purchase price of $0.075 per Share.
The Company may pay a finder’s fee in connection with the Private Placement within the maximum amount permitted by the policies of the Canadian Securities Exchange (the “Exchange”) and the applicable securities laws. Certain directors, officers and insiders of the Company may participate in the Private Placement. The Private Placement is subject to several conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities to be issued in connection with the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
The net proceeds from the Private Placement will be used by the Company for general working capital.
No new insiders or control persons will be created as a result of this Private Placement.
On Behalf of the Board of Directors
LEXSTON LIFE SCIENCES CORP.
Jagdip Bal Chief Executive Officer
Telephone: (604) 928-8913
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
New branding unifies Numinus’ presence across North America
Rebranding will be accomplished in phases and completed by end of 2022
VANCOUVER, BC, June 27, 2022 /CNW/ – Numinus Wellness Inc. (“Numinus”, the “Company”) (TSX: NUMI) (OTCQX: NUMIF) is pleased to announce the launch of a new visual brand identity that will be applied to all Company assets, including its clinics, research sites and digital properties, by the end of 2022 – complementing Numinus’ continued growth as a leading mental health care company providing psychedelic-assisted therapies across North America.
“Numinus has grown significantly since our founding in 2018. Our recent expansion to the US marked a key opportunity to revitalize our brand while unifying our service offerings,” said Payton Nyquvest, Founder and CEO, Numinus. “Our new updated identity will be instrumental for Numinus as we expand our market presence, drive increased brand awareness, and, ultimately, advance as a leader in psychedelic-assisted therapy and mental health care across North America.”
The visual identity, created in partnership with leading creative agency, GrandArmy, reflects the essence of Numinus’ vision – blending the art and science of innovative mental health care through use of geometry and colour.
“As Numinus grows at a community and global level, an impactful visual identity that brings together all parts of the business will help us build stronger brand connection for both our external and internal audiences,” says Danielle Hinan, VP, Marketing, Numinus. “We underwent a rigorous rebranding exercise, exploring sacred geometry and symbolism to create a brand that is timeless and engaging, and we can’t wait to bring it to life in the coming months.”
The rebranding will be completed in a multi-phased approach, with current Numinus branded assets and websites immediately being rebranded, followed by the rebranding of subsidiaries Mindspace, the Neurology Centre of Toronto, Cedar Psychiatry, Cedar Clinical Research and Foundations for Change later in the year. Numinus expects all assets to be rebranded to showcase one unified brand by the end of 2022.About Numinus
Numinus Wellness (TSX: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.
Neither Numinus Wellness Inc., nor any of its subsidiaries is a professional corporation licensed to practice health services. In jurisdictions where health services may only be provided by a corporation if that corporation holds a valid permit to do so, Numinus and its subsidiaries operate in a management services function to affiliated professional corporations, who provide health services to patients. Numinus and its subsidiaries do provide health services directly to patients in those jurisdictions where authorized to do so. Forward-Looking Statements
This news release includes certain “forward‐looking information” and “forward‐looking statements” (collectively “forward‐looking statements”) within the meaning of applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. All statements in this news release that address events or developments that the Company expects to occur in the future are forward‐looking statements. Forward‐looking statements are statements that are not historical facts and are often identified by words such as “expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”, “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will”, “would”, “may”, “could”, “should” or “might” occur, and include information regarding expectations around the rebranding, and expectation for other economic, business and/or competitive factors.
Forward‐looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond the Company’s control. These forward‐looking statements are qualified in their entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s financial statements, related MD&A and Annual Information Form for the financial year ended August 31, 2021 and its interim financial statements and related MD&A for the three and six months ended February 28, 2022, all filed with the securities regulatory authorities in all provinces and territories of Canada, except Québec, and available under the Company’s profile at www.sedar.com. The risk factors are not exhaustive of the factors that may affect the Company’s forward‐looking statements. The Company’s forward‐looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management of the Company at such time. The Company does not assume any obligation to update forward‐looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward‐looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward‐looking statements. Accordingly, undue reliance should not be placed on forward‐looking statements.
SOURCE Numinus Wellness Inc.
For further information: Jamie Kokoska, Vice President, Investor Relations & Communications, jamie.kokoska@numinus.com, +1 833-686-4687; Media Contact: May Lee, Manager, Communications, may.lee@numinus.com
VANCOUVER, British Columbia, June 27, 2022 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF) is pleased to announce the price of its previously announced marketed public offering of units of the Company (the “Units” or the “Offered Securities”) with Research Capital Corporation as the sole agent and sole bookrunner (the “Agent”), in each of the provinces of Canada (other than Quebec) (the “Offering”). Pursuant to the Offering, the Company intends to issue up to 533,333 Units at a price of $3.75 per Unit for aggregate gross proceeds of up to $2,000,000.
Each Unit will consist of one Class A common share of the Company (a “Common Share“) and one Common Share purchase warrant of the Company (a “Warrant“).
Each Warrant entitles the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price equal to $4.70 per Warrant Share (the “Warrant Exercise Price”) for a period of 5 years following the date of issuance.
The Company will use its commercially reasonable efforts to obtain Canadian Securities Exchange (“CSE”) approval to permit the following anti-dilution protection feature of the Warrants. In the event of a down-round financing during the period of 5 years following closing of the Offering (a “Dilutive Issuance”), the Warrants contain an anti-dilution protection feature, to adjust the Warrant Exercise Price and increase the number of Warrant Shares issuable thereunder if Common Shares are sold or issued for a consideration per share less than the Warrant Exercise Price (subject to certain exemptions), provided, that the exercise price will not be less than 50% of the public offering price per Unit (the “Floor Price”).
Provided that if, at any time prior to the expiry date of the Warrants, the volume weighted average trading price of the Common Shares on the CSE, or other principal exchange on which the Common Shares are listed, is greater than $14.10 for 20 consecutive trading days, the Company may, within 10 business days of the occurrence of such event, deliver a notice to the holders of Warrants accelerating the expiry date of the Warrants to the date that is 30 days following the date of such notice (the “Accelerated Exercise Period”). Any unexercised Warrants shall automatically expire at the end of the Accelerated Exercise Period.
The Company will grant to the Agent an option (the “Over-Allotment Option”) to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in aggregate would be equal to 15% of the total number of the Offered Securities to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering.
The net proceeds from the Offering of the Units will be used to fund research and development programs, general and administrative expenses and for working capital purposes.
The closing of the Offering is expected to occur on or about July 4, 2022, or on such date as agreed upon between the Company and the Agent. The Company will obtain the necessary approvals to list the Common Shares comprised in the Units, as well as Warrant Shares and the Common Shares issuable upon exercise of compensation warrants, for trading on the CSE.
In connection with the Offering, the Company intends to file a prospectus supplement (the “Supplement“) to the Company’s short form base shelf prospectus dated May 5, 2021 (the “Shelf Prospectus“), with the securities regulatory authorities in each of the provinces of Canada. Copies of the Shelf Prospectus and after it is filed, the Supplement to be filed in connection with the Offering, can be found on SEDAR at www.sedar.com. The Shelf Prospectus contains, and the Supplement will contain, important detailed information about the Company and the Offering. Prospective investors should read the Supplement and accompanying Shelf Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. The securities may be offered and sold by way of private placement in the United States and to, or for the account or benefit of “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) pursuant to an exemption from the registration requirements under the U.S. Securities Act, and pursuant to the applicable securities laws of any state of the United States. Any securities offered and sold in the United States shall be issued as “restricted securities” as defined in Rule 144(a)(3) under the U.S. Securities Act. The securities may also be sold in such other jurisdictions as the Company and the Agent may agree. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Algernon Pharmaceuticals Inc.
Algernon is a drug re-purposing company that investigates safe, already approved drugs for new disease applications, moving them efficiently and safely into new human trials, developing new formulations and seeking new regulatory approvals in global markets. Algernon specifically investigates compounds that have never been approved in the U.S. or Europe to avoid off label prescription writing.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements This news release contains certain statements which constitute forward-looking statements or information under applicable Canadian securities laws, including statements relating to the expected size and pricing of the Offering and the Offered Securities, the terms of the Offered Securities, the anticipated timing of closing the Offering, the ability of the Company to satisfy all conditions to closing the Offering, the expected use of proceeds from the Offering, the Warrants containing an anti-dilution protection feature, the listing of the Warrants on the CSE, the gross proceeds of the Offering and the use of such proceeds. Such forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company’s control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. These risks and uncertainties include general economic and capital markets conditions, stock market volatility, the ability of the Company to obtain necessary consents for the Offering, including the approval of the CSE, and the ability of the Company to complete the Offering on the terms expected or at all. Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
— Marks the first novel psilocybin analog to enter clinical development — — Patient recruitment to commence immediately — — Pharmacokinetic and safety data readout expected in Q4 2022 —
TORONTO–(BUSINESS WIRE)– Cybin Inc. (NEO:CYBN) (NYSE American:CYBN) (Cybin or the Company), a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics™”, today announced that it has received a “may proceed letter” and Investigational New Drug Application (“IND”) clearance from the U.S. Food and Drug Administration (“FDA”) for its Phase 1/2a first-in-human clinical trial evaluating CYB003. CYB003 is a proprietary deuterated psilocybin analog that is being developed for the potential treatment of major depressive disorder (“MDD”). This milestone marks the industry’s first ever novel psilocybin analogto enter clinical development. The Company will begin recruiting patients immediately and expects to provide an interim pharmacokinetic (“PK”) and safety data readout in Q4 2022.
“We are extremely pleased to advance CYB003 into clinical development so quickly. Our team has worked diligently to achieve this major regulatory milestone and we look forward to collaborating with Clinilabs, our drug development partner, to accelerate this program,” said Doug Drysdale, Chief Executive Officer of Cybin. “This Phase 1/2a trial represents the first time that a psilocybin analog will be evaluated for the treatment of MDD and is the key next step toward our ultimate goal of providing a new and effective treatment for people suffering with mental health conditions.”
About the CYB003 Phase 1/2a Trial
The Phase 1/2a trial is a randomized, double-blind, placebo-controlled study evaluating people with moderate to severe MDD. Participants will receive two administrations (placebo/active and active/active) and a response/remission will be assessed at Week 3 (after first dose) and at Week 6 (after second dose). Importantly, participants in the trial that are currently being treated with selective serotonin reuptake inhibitors will be allowed to remain on their antidepressant medication.
Using the Montgomery-Asberg Depression Rating Scale, the trial will assess rapid onset of antidepressant effect on the day of dosing. The study will also evaluate the benefit of CYB003 when administered at up to two doses of 12mg and will provide important PK and safety data to determine a clinical path forward. An optional open-label follow-up study will assess the durability of treatment effect out to 12 weeks.
The detailed Phase 1/2a study protocol is available at clinicaltrials.gov under the Identifier number: NCT05385783.
About CYB003
CYB003 is a deuterated analog of psilocybin, which is part of a family of molecules called indolamines that include more common neurotransmitters, such as serotonin. Psilocybin is dephosphorylated to form its metabolite psilocin, which can cross the blood-brain-barrier. Given its structural similarity to serotonin, psilocin can easily activate the serotonin 5-HT2A receptor.
CYB003 is designed to potentially address the challenges and limitations of oral psilocybin. Based on preclinical data, CYB003 achieved less variability in plasma levels, faster onset of action, and shorter duration of effect. We believe CYB003 has the potential to reduce time and resource burden on patients, providers, and payers, and possibly improve scalability and accessibility of treatment.
Preclinical Results for CYB003
In multi-species preclinical studies, CYB003 demonstrated:
a well-tolerated profile following several doses in multiple species that supports repeat dosing in humans;
a similar in vitro and in vivo pharmacology profile when compared to psilocin, the active naturally occurring psychedelic agent in psilocybin;
a 50% reduction in variability compared to classic psilocybin, indicating the potential for more accurate dosing;
a 50% dose reduction compared to classic psilocybin, indicating the potential to maintain equivalent efficacy while reducing side effects;
a 50% shorter time to onset when compared to classic psilocybin, indicating the potential for shorter duration of treatment, lower inter-subject variability, and better therapeutic control; and,
nearly double the brain penetration when compared to classic psilocybin, indicating the potential for a less variable treatment response.
“Multiple academic studies have shown that psychedelic-based treatments, like psilocybin, may have the potential to revolutionize mental healthcare, but few companies have addressed the well-known limitations and side effects of oral psilocybin. We believe CYB003 has the potential to offer people in need with a more tolerable and potentially more effective treatment option. We look forward to advancing this important compound through clinical development,” concluded Drysdale.
About Cybin
Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom and Ireland. The Company is focused on progressing Psychedelics to Therapeutics by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.
Cautionary Notes and Forward-Looking Statements
Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Cybin’s future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. Forward-looking statements in this news release include statements related to the results of the Company’s CYB003 preclinical studies, statements regarding the Company’s CYB003 Phase 1/2a trial and anticipated results, the Company’s plans to start recruiting patients immediately for its CYB003 Phase 1/2a trial, the Company’s plans to readout interim PK and safety data by the end of 2022, and the Company’s plan to engineer proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health conditions.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the psychedelics market; the ability of the Company to successfully achieve its business objectives; plans for growth; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions in the markets where the Company operates; and the risk factors set out in the Company’s management’s discussion and analysis for the year ended March 31, 2022 and the Company’s annual information form for the year ended March 31, 2022, which are available under the Company’s profile on www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds can diagnose, treat, cure or prevent any disease or condition. Rigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
Neither the Neo Exchange Inc. nor the NYSE American LLC stock exchange have approved or disapproved the contents of this news release and are not responsible for the adequacy and accuracy of the contents herein.
Investor & Media:
Leah Gibson Vice President, Investor Relations & Strategic Communications Cybin Inc. irteam@cybin.com – or – media@cybin.comSource: Cybin Inc.
TORONTO–(BUSINESS WIRE)– Cybin Inc. (NEO:CYBN) (NYSE AMERICAN:CYBN) (“Cybin” or the “Company”), a biotechnology company focused on progressing Psychedelics to Therapeutics™, is pleased to announce that Adelia Therapeutics Inc. (“Adelia”), a wholly-controlled subsidiary of Cybin, has achieved the milestone identified as Y2, Q3 (i) as contemplated by the terms of a contribution agreement dated December 4, 2020 (the “Transaction Agreement”) among Cybin, Cybin Corp., Cybin US Holdings Inc. (the “Acquiror”), a wholly-controlled subsidiary of Cybin, and all of the previous shareholders of Adelia (the “Adelia Shareholders”).
Pursuant to the terms of the Transaction Agreement, 37,366.2 Class B common shares in the capital of the Acquiror (the “Class B Shares”) shall be issued to the Adelia Shareholders, in satisfaction of the $280,247.14 (approximately US$217,465) due to them on meeting the relevant milestone, at an effective issue price of $7.50 per Class B Share, determined in accordance with the Transaction Agreement and applicable securities law. The Class B Shares issued by the Acquiror to the Adelia Shareholders are exchangeable for common shares in the capital of Cybin (the “Cybin Shares”) on a 10 Cybin Shares for 1 Class B Share basis, at the option of the holder thereof, subject to customary adjustments. No Class B Shares were exchangeable prior to December 14, 2021, and not more than: (i) 33 1/3% of the Class B Shares will be exchangeable prior to December 14, 2022; (ii) 66 2/3% of the Class B Shares will be exchangeable prior to December 14, 2023; and (iii) thereafter, 100% of the Class B Shares will be exchangeable.
Additional information related to the transaction is available in the Transaction Agreement, which is filed under Cybin’s profile on SEDAR (www.sedar.com) and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov.
About Cybin
Cybin is a leading ethical biotechnology company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, United Kingdom and Ireland. The Company is focused on progressing Psychedelics to Therapeutics™ by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.
About Adelia
Adelia is a wholly-controlled subsidiary of the Company, that aims to develop medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs. Adelia’s primary focus is on the development of treatment regimens consisting of proprietary psychedelic molecules and related clinical protocols. This proprietary development strategy is based on chemical modifications to the known and well understood tryptamine derivatives that significantly modify their pharmacokinetic properties without changing their therapeutic potential. These proprietary approaches seek to minimize inter-patient variability by better controlling drug metabolism without loss of efficacy that together have been shown to produce more predictable and favorable patient outcomes.
Cautionary Notes and Forward-Looking Statements
Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding Cybin’s future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. Forward looking statements in this news release include statements regarding the Company’s development of innovative drug delivery systems, novel formulation approaches and potential treatment regimens for psychiatric disorders and Adelia’s proprietary development strategy and development of medicinal psychedelics with improved dosing efficacy and therapeutic indices to address unmet medical needs.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: implications of the COVID-19 pandemic on the Company’s operations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the psychedelics market; the ability of the Company to successfully achieve its business objectives; plans for growth; political, social and environmental uncertainties; employee relations; the presence of laws and regulations that may impose restrictions in the markets where the Company operates; and the risk factors set out in the Company’s management’s discussion and analysis for the year ended March 31, 2022 and the Company’s annual information form for the year ended March 31, 2022, which are available under the Company’s profile on www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
Neither the Neo Exchange Inc. nor the NYSE American LLC stock exchange have approved nor disapproved the contents of this news release and are not responsible for the adequacy and accuracy of the contents herein.
Unless otherwise indicated, all dollar amounts in this news release are expressed in Canadian dollars.
Investor & Media: Leah Gibson Vice President, Investor Relations & Strategic Communications Cybin Inc. irteam@cybin.com – or – media@cybin.comSource: Cybin Inc.
Toronto, June 27, 2022 – FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRE: 0K9A) (“FSD Pharma” or the “Company”), a life sciences holding company dedicated to building a portfolio of assets and biotech solutions, announced today the results of its annual general meeting of shareholders (“AGM”), held online and in virtual-only format on June 23, 2022.
There were 164 shareholders represented in person or by proxy at the AGM holding 48 Class A Multiple Voting Shares (“Class A Shares”) and 7,885,958 Class B Subordinate Voting Shares (“Class B Shares”), representing 36.21% of the votes attached to the Class A Shares and Class B Shares.
The detailed results of the vote for the election of directors of FSD Pharma are set out below.
Nominee
Votes For
% Votes For
Votes Withheld
% Votes Withheld
Anthony Durkacz
20,584,760
97.26%
580,878
2.74%
Zeeshan Saeed
20,698,398
97.79%
467,240
2.21%
Donal Carroll
20,807,032
98.31%
358,606
1.69%
Adnan Bashir
20,804,734
98.29%
360,904
1.71%
Fernando Cugliari
13,377,981
63.21%
7,787,657
36.79%
Nitin Kaushal
13,677,611
64.62%
7,488,027
35.38%
Lawrence Latowsky
20,359,349
96.19%
806,289
3.81%
As a result, the nominees for election as directors set out above were elected as directors of the Company to serve until the close of the next annual meeting of shareholders or until their successors are elected or appointed.
In addition, at the AGM, the shareholders also re-appointed MNP LLP as the Company’s auditor and authorized the directors to fix the auditor’s remuneration. For more information on these matters, please refer to FSD Pharma’s management information circular dated May 20, 2022, available on SEDAR at www.sedar.com.
Corporate Updates
FSD Pharma remains active with its share repurchase program initiated on December 30, 2021. The program specifies that the Company may repurchase up to 2,000,000 of its Subordinate Class B Voting Shares, representing approximately 5% of all issued and outstanding Subordinate Class B Voting Shares. To date, 1,762,100 shares have been repurchased at market prices out of which 1,663,100 shares have been returned to the treasury and retired leaving 38,407,124 shares outstanding.
Related, individuals qualified as “insiders” by regulatory standards, including FSD Pharma Co-Founder and interim Chief Executive Officer Anthony Durkacz, FSD Pharma Co-Founder and President Zeeshan Saeed, Director Donal Carroll etc. continue to add to their positions by purchasing shares of HUGE in the open market. The insider trades for FSD Pharma can be seen by clicking on the following link: https://ceo.ca/api/sedi?symbol=HUGE&amount=&transaction=&insider=
FSD Pharma had a very active presence at BIO-2022 led by Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, which took place at the San Diego Convention Center from June 13 – 16, 2022. FSD Pharma participated in numerous meetings, establishing new inroads for potential collaborations and partnerships as an ongoing effort to strengthen FSD’s current pipelines and global market access strategies.
Lastly, the Company was recently featured in an article by International Business Times, titled, “Multiple Sclerosis to Depression, Innovative Biotech aims for Total Brain Health.” The article discusses advances in science and technology and speaks at length about the role of FSD Pharma as an innovator developing new medicines targeting neurological diseases. Interested individuals are encouraged to read the article at: https://www.ibtimes.com/multiple-sclerosis-depression-innovative-biotech-aims-total-brain-health-3537452
About FSD Pharma
FSD Pharma Inc. is a biotechnology company with three drug candidates in different stages of development. FSD BioSciences, Inc. (“FSD BioSciences”), a wholly owned subsidiary, is focused on pharmaceutical research and development of its lead compound, ultra-micronized palmitoyl ethylamine (“PEA”) or FSD-PEA (formerly called FSD-201). Lucid Psycheceuticals Inc. (“Lucid”), a wholly owned subsidiary, is focused on the research and development of its lead compounds, Lucid-PSYCH (formerly Lucid-201) and Lucid-MS (formerly Lucid-21-302). Lucid PSYCH is a molecular compound identified for the potential treatment of mental health disorders. Lucid-MS is a molecular compound identified for the potential treatment of neurodegenerative disorders
Contacts
Zeeshan Saeed, Founder, President and Executive Co-Chairman of the Board, FSD Pharma Inc. Email: Zsaeed@fsdpharma.com Telephone: (416) 854-8884
Approves spin-out of clinics business to Field Trip Health & Wellness Ltd., pending final court approval and additional customary closing conditions
TORONTO, June 27, 2022 (GLOBE NEWSWIRE) — Field Trip Health Ltd. (TSX: FTRP, FTRP.WT, Nasdaq: FTRP) (“Field Trip” or “Corporation”), a global leader in the development and delivery of psychedelic therapies, today announced that on June 27, 2022, its shareholders approved both the Arrangement Resolution, the Concurrent Financing Resolution and the SpinCo Incentive Plan Resolution (each as defined in the Circular (each as defined below)) at its special meeting of shareholders (the “Meeting”), thereby approving the previously announced spin-out of its clinics business to Field Trip Health & Wellness Ltd. (“Field Trip H&W”) by way of a plan of arrangement (the “Arrangement”). A total of 47.25% of the issued and outstanding common shares of the Corporation were represented either in person or by proxy at the Meeting. Closing of the Arrangement remains subject to a number of conditions, including final court approval scheduled for Wednesday, June 29, 2022, and other regulatory approvals.
On a vote by ballot, the following three resolutions were approved, with shares represented at the Meeting voting as follows:
RESOLUTION
FOR
AGAINST
#
%
#
%
Arrangement Resolution(1)
27,434,568
99.85
39,880
0.15
Concurrent Financing Resolution(2)
25,098,140
99.82
45,131
0.18
SpinCo Incentive Plan Resolution
27,282,965
99.30
191,483
0.70
Concurrent with closing of the Arrangement, Field Trip H&W is expected to complete a series of private placement financings for gross proceeds of up to $23,740,000, led by Oasis Management Company and Field Trip. On June 14, 2022, Field Trip announced that it will increase its initial investment in Field Trip H&W from $5.0 million to $9.8 million for a 21.79% equity interest in Field Trip H&W immediately following closing of the Transaction.
Pursuant to the terms of the Arrangement, each share of the Corporation will be exchanged for one common share of the Corporation (to be renamed “Reunion Neuroscience Inc.” on consummation of the Arrangement) and approximately 0.86 common shares of Field Trip H&W. Following the Arrangement, the Corporation will remain listed on the NASDAQ Stock Market and Toronto Stock Exchange, and Field Trip H&W, subject to exchange approval, will list on the TSX Venture Exchange.
Field Trip will be seeking final court approval in respect of the Arrangement on Wednesday, June 29, 2022 at 10:00 am before the Ontario Superior Court of Justice (Commercial List) via videoconference due to the COVID-19 pandemic. Interested parties are entitled to appear at the hearing and make submissions. To appear at the hearing and make submissions, the requirements set out in Field Trip’s management information circular dated May 20, 2022 and the supplement related thereto dated June 14, 2022 (collectively, the “Circular”), which is available under the Corporation’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov as well as at: Field Trip Health Ltd. – Governance Documents (https://www.meetfieldtrip.com/governance/governance-documents/default.aspx) must be followed. Please refer to the Circular in its entirety for further information.
About Field Trip Health Ltd.
Field Trip is a global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people in need with a simple, evidence-based way to heal and heighten engagement with the world.
Follow us on Twitter and Instagram: @fieldtriphealth.
To receive updates about Field Trip and to be added to the email distribution list please sign up here.
Cautionary Note Regarding Forward-Looking Information
This release includes forward-looking information (within the meaning of Canadian securities laws and within the meaning of the United States Private Securities Litigation Reform Act of 1995) regarding Field Trip and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Additional information relating to Field Trip, including its annual information form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.
Neither the Toronto Stock Exchange, nor its Regulation Services Provider, have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.
1 Represents all common shares entitled to vote on the special resolution approving the Arrangement. To calculate Disinterested Shareholder approval, we excluded 7,236,830 common shares (26.34% of common shares who voted on the Arrangement Resolution) held by certain insiders who voted in support of the Arrangement Resolution, which results in a 99.80% approval. 2 As required by Section 607(e) of the TSX Company Manual, votes related to 2,331,177 common shares (8.48% of common shares who voted on the Concurrent Financing Resolution) held by certain participants in the Concurrent financing were excluded from this resolution.
After Colorado activists submitted nearly twice the amount of signatures required, the Natural Medicine Health Act will appear on the ballot this November!
Colorado residents will vote to legalize possession of certain psychedelics and implement a model for legal psilocybin treatments, similar to Oregon’s.
Calgary, AB – TheNewswire – June 24, 2022 – Universal Ibogaine Inc. (TSXV:IBO ) , ( OTC:IBOGF ) and ( FSE:JC4) (“ UI ” or the “ Company ”) a life sciences company with a mission to transform addiction treatment using medicalized ibogaine and a global licensing model is pleased to announce that Nick Karos, CEO will present at the H.C. Wainwright 1 st Annual Mental Health Conference: Neuropsychiatry, Psychedelics and Beyond. The event is a hybrid online and in person event scheduled for June 27, 2022.
About H.C. Wainwright
H.C. Wainwright & Co is one of the oldest and most trusted names in corporate finance in the USA providing investment banking, corporate advisory, research, and analysis covering sectors including Healthcare & Life Sciences, Mining, Cleantech, Shipping & Maritime and Technology.
H.C. Wainwright hosts a robust calendar of conferences and events in the Healthcare sector. More information and registration for the 1 st Annual Mental Health Conference can be found here .
Nick Karos CEO of Universal Ibogaine commented “H.C. Wainwright is a leader in the space and could be a strong strategic partner in our ongoing corporate finance roadmap. The opportunity to tell our story to this audience is another important step in developing the awareness around brand and offering.
Correction Notice June 13 Blue Digital Media
In UI’s June 13, 2022 News Release it was stated that stock options to be granted to investor relations advisory firm Blue Digital Media would vest one-third at the end of each month in the 3 month term of service. Under TSXV Exchange Policy 4.4 Security Based Compensation, stock options for investor relations firms must vest quarterly over a 12 month period with the first vesting for 25% of the options at 3 months,25% at 6 months, 25% at 9 months and the final 25% at 12 months.
About Universal Ibogaine Inc.
UI is a life sciences company, with a mission to transform addiction treatment using medicalized ibogaine through a planned Canadian clinical trial focused on opioid use disorder, and ultimately to utilize that protocol globally through planned future licensing agreements. UI is concurrently developing a state of the art holistic addiction treatment protocol at its Kelburn Recovery Centre that, when paired with the planned ibogaine detox protocol, is intended to revolutionize the way we treat addiction and drastically improve the lives of individuals and families affected by addiction.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information. Forward-looking information is frequently characterized by words such as “plans”, “expect”, “project”, “intend”, “will”, “believe”, “anticipate”, “estimate”, “scheduled”, ”potential”, or other similar words, or statements that certain events or conditions “may”, “should” or ”could” occur. The forward-looking statements and information are based on certain key expectations and assumptions made by UI. Although UI believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because UI can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, which include, but are not limited to, risks that required regulatory approvals are not obtained. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by UI at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only to conditions as of the date hereof. UI does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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