Posted on

Filament Health to Host Virtual Investor Event

Attendees can expect to gain insight into the Company’s business activities, clinical trials, and psychedelic drug development facility

Vancouver, British Columbia, July 19, 2021 –  Filament Health Corp. NEO:FH. (“Filament” or the “Company”), a leading exclusively-natural psychedelic drug development, today announced that it will host a virtual investor event on Thursday, August 12, 2021 at 2:00 p.m. EDT (11:00 a.m. PDT).

During the event, Chief Executive Officer (CEO) Ben Lightburn will cover Filament’s overall business activities, intellectual property developments, and upcoming Phase I and II FDA clinical trials in partnership with the Translational Psychedelic Research Program at the University of California San Francisco, and recent intellectual property developments.

“We are incredibly proud of our progress thus far,” said Lightburn. “We are currently manufacturing GMP pharmaceutical-grade natural psilocybin extracts, and will soon begin the first ever FDA-approved clinical trials of natural psilocybin. We look forward to discussing this, and other exciting updates, during our virtual event.”

Director of Research, Ryan Moss, will also provide a virtual tour of Filament’s Research and Development Facility, where Filament is currently manufacturing Good Manufacturing Practice (“GMP”) pharmaceutical-grade natural psilocybin extracts. These presentations will be followed by a question-and-answer session with the Company’s senior management team.

The event will be webcast live on Filament’s Investor Relations webpage, registration is required.

WHO: Ben Lightburn, CEO, and Ryan Moss, Director of Research

WHEN: Thursday, August 12, 2021 at 2:00 p.m. EST (11:00 a.m. PST)

WHERE: To access to the webcast, please pre-register here: https://bit.ly/3z7aF0V

An archived version of the webcast and presentation will be available on the investor relations section of the Company’s website following the event.

 

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction technology company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology commercialization, utilizing its intellectual property portfolio, in-house GMP facility, and Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Learn more at www.filament.health and on Twitter, LinkedIn and Instagram

 

MEDIA CONTACT

Anna Cordon, Director of Communications
778.245.9067
anna@filament.health

 

INVESTOR RELATIONS CONTACT

ir@filament.health

 

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Posted on

Filament Health Corp. Announces Approval for Listing on the Neo Exchange

Filament, an exclusively-natural psychedelic drug company, will begin trading on the NEO Exchange on June 24, 2021

Not for distribution to U.S. news wire services or for dissemination in the United States

Vancouver, British Columbia, June 22, 2021
Filament Health Corp. (“Filament”, the “Company” or the “Resulting Issuer”), an exclusively-natural psychedelic drug discovery and extraction technology company, is pleased to announce it has received final approval to list its common shares on the Neo Exchange Inc. (the “NEO”) and will begin trading June 24, 2021 under the symbol NEO:FH.

Filament also completed the previously announced business combination between Filament Ventures Corp. (“Filament Ventures”) and 1287396 B.C. Ltd. (“396”) in accordance with an amalgamation agreement dated June 7, 2021 (the “Amalgamation Agreement”). Filament Ventures and 396 amalgamated under the Business Corporations Act (British Columbia) to continue as the Resulting Issuer.

“This is an important and exciting progression in Filament’s growth,” said Filament’s Chief Executive Officer, Benjamin Lightburn. “We believe our differentiated platform is well-positioned to address the ongoing mental health crisis and that listing on the NEO will increase our access to capital and marketplace visibility.”

As a result of the Transaction, the Filament has 164,689,369 common shares outstanding, and has reserved common shares for issuance of up to (i) 2,625,000 upon exercise of warrants; (ii) 250,200 upon exercise of broker compensation warrants; and (iii) 16,266,639 upon exercise of stock options.

The Resulting Issuer’s Board of Directors include Greg Mills (Chair), Ben Lightburn (CEO), Chris Wagner, Jon Conlin (Corporate Secretary) and Maureen O’Connell.

The Resulting Issuer’s Officers include Ben Lightburn (CEO), Tom Kineshanko (President), Warren Duncan (CFO), Lisa Ranken (COO) and Ryan Moss (Director of Research).

With deep experience in natural extraction technology commercialization, a robust and innovative IP portfolio, in-house GMP manufacturing, and a Health Canada psilocybin Dealer’s License, Filament has built the foundation to support a rapidly-scaling drug development pipeline. The company’s first drug candidates, IP-protected extract formulations of p. Cubensis mushrooms are poised to enter into Phase I and Phase II FDA clinical trials in the second half of 2021 – the first ever FDA-approved clinical trials conducted using natural psilocybin.

 

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Get the latest updates via Filament’s newsletter and LinkedIn page.

 

MEDIA CONTACT

Anna Cordon, Director of Communications
778.245.9067
anna@filament.health

 

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Posted on

Filament Announces Shareholder Approval of Amalgamation and Closing of Private Placement Financing

Vancouver, British Columbia, June 21, 2021
Filament Health Corp. (formerly Filament Ventures Corp.) (“Filament” or the “Company”), today announced that further to its press release June 8, 2021, holders of the common shares of Filament (the “Shareholders”) approved the amalgamation (the “Amalgamation”) of Filament and 396 at an annual and special meeting (the “Meeting”) of Shareholders held on June 18, 2021. At the Meeting, votes were placed by Shareholders present in person or represented by proxy, collectively holding approximately 85% of Filament’s outstanding common shares. The required shareholder approval thresholds were met, with the Amalgamation being approved by 100% of the votes cast at the Meeting.

At the Meeting, Shareholders also, among other things, elected the directors of Filament, appointed the auditor of Filament (both before and after completion of the Amalgamation), and approval of approving an amendment to the articles of Filament to change the name of Filament to “Filament Health Corp”.

Filament expects that the Amalgamation will be completed on June 22, 2021 (the “Effective Date”) following the fulfilment of certain closing conditions customary in transactions of this nature and that the common shares of the resulting issuer following the completion of the Amalgamation (the “Resulting Issuer”), will be listed on the Neo Exchange Inc. (“Neo Exchange”) thereafter. The Company has received conditional listing approval from the Neo Exchange. Final approval for listing is subject to the Resulting Issuer fulfilling all of the Neo Exchange’s listing requirements.

“On the heels of positive IP developments and completing our first Good Manufacturing Practice (“GMP”) batch of pharmaceutical-grade natural psilocybin extracts, we decided to forego closing on a second tranche of our initially contemplated financing,” said Filament’s CEO, Benjamin Lightburn. “Filament is in active dialogue with the Canadian Intellectual Property Office and United States Patent and Trademark Office. Through these communications, we have a high degree of confidence in the innovation, novelty, utility and lack of prior art relating to Filament’s patent families.”

Further to Filament’s press release dated May 17, 2021, Filament is also pleased to announce the closing of the previously announced private placement at a price of $0.40 per subscription receipt (the “Subscription Receipts”) for aggregate gross proceeds of $1,842,000 (the “Brokered Private Placement”) and $0.40 per unit (the “Units”) for aggregate gross proceeds of $3,152,000 (the “Non-Brokered Private Placement” and collectively with the Brokered Private Placement, the “Private Placements”). The aggregate gross proceeds of the Private Placements was $5,000,000.

Each Subscription Receipt will be converted into one Unit upon satisfaction of certain escrow release conditions (the “Escrow Release Conditions”). The Escrow Release Conditions shall be in a customary form and substance commensurate with industry norms and pursuant to the terms of a subscription receipt agreement to be entered into between the Company, Echelon Wealth Partners Inc. and Canaccord Genuity Corp. (together, the “Co-Lead Agents”) and Computershare Trust Company of Canada as subscription receipt agent.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”), pursuant to the Amalgamation. Each Warrant shall be exercisable to acquire one Common Share at an exercise price of $0.60 for a period of 24 months from the date the Escrow Release Conditions are satisfied.

In connection with the Brokered Private Placement, the Company has paid to the Co-Lead Agents an aggregate cash commission equal to six percent (reduced to three percent for certain subscribers on the Company’s President’s List) of the gross proceeds from the Brokered Private Placement and issued an aggregate of 250,200 non-transferable broker warrants (“Broker Warrants”), being equal to six percent (reduced to three percent for certain subscribers on the Company’s President’s List) of the number of Subscription Receipts sold. Each Broker Warrant is exercisable to acquire one Resulting Issuer common share at a price of CAD$0.40 expiring 24 months from the date on which the Resulting Issuer Shares are listed on a Canadian exchange.
The net proceeds of the Offering will be used for clinical trials, research and development, intellectual property initiatives, working capital and other general corporate purposes.

 

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Get the latest updates via Filament’s newsletter and LinkedIn page.

 

MEDIA CONTACT

Anna Cordon, Director of Communications
778.245.9067
anna@filament.health

 

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Posted on

Filament Announces First GMP Batch of Pharmaceutical Grade Natural Psilocybin

Vancouver, British Columbia, June 11, 2021
Filament Ventures Corp., doing business as Filament Health (“Filament” or the “Company”), an exclusively-natural psychedelic drug discovery and extraction technology company, today announced it has completed its first Good Manufacturing Practice (“GMP”) batch of pharmaceutical-grade natural psilocybin extract. Filament’s GMP extracts are set to be administered in clinical trials in collaboration with the Translational Psychedelic Research Program (“TrPR”) at the University of California, San Francisco (“UCSF”). To date, no FDA-approved clinical trial has been conducted using natural psilocybin.

“Our team has established the technologies necessary to produce stabilized pharmaceutical-grade extracts from natural psychedelic species. These technologies are the subjects of our five patent application families,” said Filament’s CEO, Benjamin Lightburn. “All of this has been completed in our facility which has both a Health Canada Dealer’s License and GMP production, setting us ahead of many industry participants.”

Filament’s industry-leading facility positions the Company well to explore additional psychoactive compounds with several already under investigation. Filament has submitted an application for amendment to its Health Canada Dealer’s License to include all controlled natural psychedelic substances, including N,N-dimethyltryptamine (“DMT”), mescaline, and others. Filament has additionally developed extracts of several non-controlled psychoactive alkaloids.

“It is very possible that the best psychedelic therapeutic is yet to be identified, either as a standalone compound or as a naturally-occurring combination” said Ryan Moss, Director of Research at Filament. “We believe that looking to the natural world provides the best avenue to identify potential candidates and, using our suite of patent-pending technologies, transform them into pharmaceutical-grade formulations for clinical study.”

Filament has already identified one such compound which may provide therapeutic advantages compared to psilocybin, evidence of which will be sought in an upcoming phase 1 trial at UCSF.

 

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Get the latest updates via Filament’s newsletter and LinkedIn page.

 

MEDIA CONTACT

Anna Cordon, Director of Communications
778.245.9067
anna@filament.health

 

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Posted on

Filament Cultivates 20th Psychedelic Mushroom Variety and Provides Propagation Update

Vancouver, British Columbia, June 9, 2021
Filament Ventures Corp., doing business as Filament Health (“Filament” or the “Company”), an exclusively-natural psychedelic drug discovery and extraction technology company, today announced it has grown its 20th cultivar of psilocybin-containing mushrooms at its GMP facility in Metro Vancouver. Filament also shared updates on its propagation research, including the discovery of a potent cultivar of psilocybin-containing fungus.

“We are excited to share that we’ve recently identified a cultivar that contains four times the psilocybin content of more commonly-known cultivars. In addition, we have identified eight additional psychoactive alkaloids present within fungal biomass, highlighting the potential for developing proprietary extract formulations,” said Ryan Moss, Director of Research at Filament. “Findings such as these emphasize the need for further research on these cultivars and other psychedelic organisms, especially given the need for a strictly standardized dose in clinical settings. Filament is dedicated to providing safe and effective natural psychedelic extracts.”

In order to identify the highest-potency cultivars, Filament has grown and analyzed twenty varieties of psychoactive mushrooms, and has 75 further cultivars undergoing screening. Filament is currently using three high-content, high-efficiency primary strains for production, and will be entering one of the non-psilocybin compounds identified into a Phase 1 clinical trial in partnership with the TRpR Program at UCSF. Filament’s in-house operations include propagation, extraction, research, and manufacturing using its patent-pending technologies. Current production at the Company’s 3,500 square foot facility yields the equivalent of over 25,000 therapeutic doses of psilocybin per year.

“Our research program infrastructure comprises a critical part of our strategic roadmap, and we are delighted with the resulting progress in advancing the field of natural psychedelic research,” said Filament CEO, Benjamin Lightburn. “Rather than developing synthetically-prepared versions of natural compounds, we view nature as the most potent source for new and effective therapies. Furthermore, we are encouraged by regulatory advancements such as Oregon Measure 109 and California Senate Bill 519, which advance non-pharmaceutical psychedelic-assisted therapy where naturally-derived psychedelic products will likely be preferred.”

These natural compounds are best unlocked through rigorous research and skillfully applied extraction techniques. Filament is well-poised to tackle this challenge with a management team that has decades of experience in natural extraction, purification, and standardization, as well as patent-pending versions of these processes that it leans on to produce safe and consistent product formulations.

Posted on

Filament Health Partners with TrPR Psychedelic Research Program at UCSF to Advance First Drug Candidates Through FDA Phase 1 and Phase 2 Clinical Trials

Filament Health is collaborating with the TrPR Program at the University of California, San Francisco on two innovative U.S. FDA clinical trials, commencing in 2021, to demonstrate the safety and efficacy of its proprietary, naturally-extracted drug candidates.

Vancouver, British Columbia, May 31, 2021
Filament Ventures Corp. (“Filament”, “Filament Health” or the “Company”), an exclusively-natural psychedelic drug discovery and extraction company, today announced it has partnered with the Translational Psychedelic Research (“TrPR”) Program at the University of California, San Francisco (“UCSF”) to progress its drug development efforts. TrPR’s Director, Dr. Joshua Woolley, Associate Professor of Psychiatry at UCSF and experienced psychedelics clinician and researcher, will act as Principal Investigator, leading Filament’s unique, patent-protected drug candidates through two U.S. Food and Drug Administration (“FDA”) investigator-initiated clinical trials, both expected to begin in 2021. The first trial has been approved by the Institutional Review Board at UCSF.

Filament’s mission is to get safe, natural psychedelics into the hands of everyone who needs them, as soon as possible, by executing drug discovery research and development steps to unlock their healing potential. Filament’s platform includes a deep patent-pending IP portfolio rooted in novel extraction and purification methods, an accomplished botanical extraction management team, a Health Canada psilocybin Dealer’s License, and in-house GMP manufacturing capabilities.

Filament believes that a partnership with the thought leaders at UCSF’s TrPR Program will catalyze the development of Filament’s leading drug candidates. The TrPR Program combines innovative basic and clinical research approaches to address key questions about the mechanisms, safety, and efficacy of psychedelics for specific health conditions. The group’s goal is to accelerate progress towards impactful and accessible psychedelic treatments.

“We are thrilled to begin the first phase of our clinical development strategy with two unique trials,” said Ben Lightburn, CEO and co-founder of Filament.“ Dr. Woolley and his team at TrPR have been invaluable partners in designing and implementing clinical studies that feature a never-before studied compound and the most rigorous trial design employed to date.”

“I’m excited about the collaboration between Filament and TrPR. Both of our teams are dedicated to innovating in the psychedelic research space and these projects reflect that focus,” said Dr. Woolley, Program Director of UCSF’s TrPR. “Designing and conducting rigorous clinical trials is a core element of what we do at TrPR. We’re really looking forward to working with Filament’s naturally-extracted formulations in these trials and contributing actionable insights to the field.”

While advancing its three leading drug candidates, Filament will continue to advance its discovery pipeline, leaning on its natural extraction expertise to access the vast potential of psychoactive plant compounds, many of which have been previously unstudied. With hundreds of plant species to be explored and the possibility of proving the entourage effect, the Company believes there is great potential for many more expertly extracted and purified compounds to become powerful medicines.

 

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Get the latest updates via Filament’s newsletter and LinkedIn page.

 

ABOUT TRPR

The TrPR Program brings together scientists and care providers across disciplines to understand how psilocybin, LSD, ketamine, MDMA, and related compounds impact the brain and other organ systems. They combine innovative basic and clinical research approaches to answer key questions about the mechanisms, safety, and efficacy of psychedelics for specific health conditions. Their goal is to accelerate progress towards impactful and accessible psychedelic treatments while committing to building a collaborative culture and applying open science principles to maximize the integrity and transparency of their work.

Learn more at https://psychedelics.ucsf.edu/ and by following TrPR on Twitter.

 

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Posted on

Filament Announces C$10M Offering and Filing of Initial Listing Application

VANCOUVER, BC, May 17, 2021 /CNW/ – Filament Ventures Corp. (“Filament” or the “Company”), an exclusively-natural psychedelic drug discovery and extraction company, is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. and Canaccord Genuity Corp. (together, the “Co-Lead Agents”) to sell, by way of a private placement on a best efforts basis, up to that number of subscription receipts of the Company (the “Subscription Receipts”) at a price of C$0.40 – C$0.50 per Subscription Receipt (the “Issue Price”) to raise aggregate gross proceeds of up to C$10,000,000 (the “Offering”).

Each Subscription Receipt will be converted into one unit of the Company (a “Unit”) upon satisfaction of certain escrow release conditions (the “Escrow Release Conditions”). The Escrow Release Conditions shall be in a customary form and substance commensurate with industry norms and pursuant to the terms of a subscription receipt agreement to be entered into between the Company, Co-Lead Agents and Canadian trust company as subscription receipt agent.

Each Unit will be comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”), pursuant to the Amalgamation (as described below). Each Warrant shall be exercisable to acquire one Common Share at an exercise price that is 50% greater than the Issue Price for a period of 24 months from the date the Escrow Release Conditions are satisfied.

The Company has entered into a letter of intent with 1287396 BC Ltd. (the “Shell”) to complete a proposed amalgamation (the “Amalgamation”) between the Company and the Shell in conjunction with the Offering. The closing of the Offering is subject to, among other customary conditions, the Company entering into a definitive agreement with the Shell with respect to the Amalgamation.

The common shares of the issuer resulting (the “Resulting Issuer Shares”) from the Amalgamation, which will be named Filament Health Corp., are expected to be listed on the NEO Exchange (the “Exchange”). The Company submitted its initial listing application to the Exchange on April 23, 2021 and has reserved the ticker symbol “FH” in connection therewith.

The net proceeds of the Offering will be used for clinical trials, research and development, intellectual property initiatives, working capital and other general corporate purposes.

The Co-Lead Agents have been granted an option, exercisable at any time prior to 48 hours before closing of the Offering, to purchase up to an additional 15% of the number of Subscription Receipts sold pursuant to the Offering. The Company has agreed to pay the Co-Lead Agents (i) a cash commission equal to 6.0% of the gross proceeds of the Offering; and (ii) warrants exercisable for a period of 24 months from the date the Resulting Issuer Shares are listed on the Exchange to acquire that number of Resulting Issuer Shares equal to 6.0% of the number of Subscription Receipts sold pursuant to the Offering at an exercise price equal to the Issue Price (subject to adjustment in connection with the definitive terms of the Amalgamation).

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Learn more at www.filament.health and get the latest updates via Filament’s newsletter and  LinkedIn page.

DISCLAIMER

The proposed terms and conditions relating to the Offering and summarized herein are provided for discussion purposes only and do not constitute an offer, agreement or commitment by the Company to issue or sell any securities.

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements” and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning the completion of the Offering and Amalgamation; the approval of the Exchange; the number and Issuer Price of Subscription Receipts to be sold by Filament and the expected use of proceeds from the Offering. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Filament Ventures corp

For further information: Ben Lightburn, hello@filament.health