Psyence Group Enters into Debt-for-Equity Swap Agreement with its NASDAQ-Listed Associate, Psyence Biomedical
Psyence Biomedical Ltd. - Ordinary Shares (PBM)
Company Research
Source: GlobeNewswire
TORONTO, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Psyence Group Inc ("Psyence Group" or the "Company") (CSE: PSYG) hereby announces that it has entered into a debt-for-equity swap agreement (the "Debt Swap Agreement") with its NASDAQ-listed associate, Psyence Biomedical Ltd (NASDAQ: PBM) ("PBM" or "Psyence Biomed"), pursuant to which Psyence Biomed has agreed to issue to the Company 2,075,920 Psyence Biomed common shares at a deemed price of US$0.50 per common share, in exchange for the discharging of a portion of the debt repayment obligation due under a promissory note, dated January 25, 2024, issued by Psyence Biomed to the Company in connection with Psyence Biomed's listing of its common shares on the NASDAQ in January 2024 ("Debt Swap"). In the event that the average VWAP of Psyence Biomed common shares for the ten trading days prior to January 15, 2025 is lower than US$0.50, Psyence Biomed will be required to make a "make whole payment" in cash or common shares, as set forth in the D
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News
- Psyence Biomedical Announces Results from Annual and Special General Meeting, Share Consolidation and Receipt of Additional Staff Determination from NasdaqGlobeNewswire
- Psyence Group Announces Closing of Previously Announced Disposal of its Stake in PsyLabs [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Psyence Group Announces Closing of Previously Announced Disposal of its Stake in PsyLabsGlobeNewswire
- Psyence Biomedical Announces Closing of Previously Announced Acquisition of Psyence Group’s Stake in PsyLabsGlobeNewswire
- Psyence Group's NASDAQ-Listed Associate, Psyence Biomedical, Announces Recruitment of Second Clinical Trial Site for Ongoing Phase IIb Clinical Trial of Nature-Derived Psilocybin for Adjustment Disorder in Palliative Care [Financial Post (Toronto, OntariFinancial Post
PBM
Sec Filings
- 11/13/24 - Form SC
- 11/12/24 - Form 6-K
- 11/12/24 - Form SC
- PBM's page on the SEC website