Psyence Group Announces SEC Registration Filing with NASDAQ SPAC, Newcourt, and Signing of Amended and Restated Business Combination Agreement
Since Psyence’s corporate update issued in June 2022, the Company has made significant progress in its clinical trial programs and in upgrading its production facility and extraction capabilities. Psyence is executing on its strategy and is pleased to provide an update across the pillars of the business.
Psyence is pleased to announce the appointment of Christopher Bull to the board of directors of the Company effective immediately.
Psyence announces that it has issued 7,775,964 common shares at a price of CAD$0.12 per common share and 3,887,982 warrants for aggregate proceeds of CAD$ 933,116 to Cantheon Capital LLC.
Psyence is pleased to announce that it has issued 9,043,038 common shares at a price of CAD$0.12 per common share for gross proceeds of CAD$1,085,164. This brings the total amount the Company has raised pursuant to the previously announced private placement to CAD $3.04 million ("Aggregate Proceeds").
Psyence Australia Pty Ltd, has partnered with iNGENū Pty Ltd (iNGENū) to conduct Psyence’s previously announced clinical trial in palliative care. iNGENū is an Australian based, globally focused Contract Research Organization (CRO) with extensive experience working in the psychedelic pharmaceutical drug development and clinical research industry.
Psyence is pleased to announce that it has entered into a partnership with Eden Labs LLC, (“Eden Labs”) a product development and extraction technology company that has developed intellectual property and methodologies around the extraction of psilocybin-yielding mushrooms.
Psyence announce that it has exported purified pharmaceutical grade psilocybin mushroom extract to its Contract Development & Manufacturing Organisation (“CDMO”) partner in the United Kingdom.
Psyence & Newcourt have entered into a definitive business combination agreement (the “Business Combination Agreement”) on January 9, 2023 with Psyence Biomed Corp (“Psyence Biomed”), a wholly owned subsidiary of Psyence, to create a public company (the “Combined Company”) leveraging natural psilocybin in the treatment of palliative care (the “Business Combination”). Psyence Biomed is Psyence’s clinical trial division.
Psyence announce it has signed a Letter of Intent (LOI) with Contract Research Organisation (CRO) iNGENū to execute Psyence’s strategy of clinical development in palliative care. iNGENū is an Australian full-service CRO specialising in clinical trials for psychoactive pharmaceuticals.
