Cybin (NYSE American: CYBN) (NEO: CYBN) is a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics(TM).” The company today announced that Adelia Therapeutics Inc., a wholly controlled subsidiary of Cybin, has achieved the milestones as contemplated by the terms of a contribution agreement dated Dec. 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. Per the terms of the transaction agreement, Class B common shares in the capital of the acquiror shall be issued to the Adelia shareholders, in satisfaction of the $551,171.99 (approximately US$437,229.88) due to them on meeting a portion of the relevant milestones, at an effective issue price 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 on a 10 Cybin Shares for one Class B share basis, at the option of the holder thereof and subject to customary adjustments.
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About Cybin Inc.
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, United Kingdom and Ireland. The company is focused on progressing Psychedelics to Therapeutics(TM) by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders. For more information, visit the company’s website at www.Cybin.com.
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