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 Biomed Highlights Recent Progress on Active Phase IIb Clinical Trial [Yahoo! Finance]Yahoo! Finance
- Psyence Biomed Highlights Recent Progress on Active Phase IIb Clinical TrialGlobeNewswire
- Optimi Health to Supply GMP-Certified Psilocybin for Psyence Biomed's Phase IIb Palliative Care Trial [Yahoo! Finance]Yahoo! Finance
- Psyence Group Enters into Agreements with its NASDAQ-Listed Associate, Psyence Biomedical, to settle outstanding obligations [Canadian Business Journal (Canada)]Canadian Business Journal
- Psyence Group Enters into Agreements with its NASDAQ-Listed Associate, Psyence Biomedical, to settle outstanding obligationsGlobeNewswire
PBM
Sec Filings
- 12/20/24 - Form F-1
- 12/19/24 - Form 6-K
- 12/18/24 - Form 6-K
- PBM's page on the SEC website