CYBIN (formerly Clarmin Explorations Inc.), a life sciences company initially focused on psychedelic pharmaceutical therapies, on Thursday announced it has completed its previously disclosed reverse takeover of Clarmin Explorations Inc. per the terms of an amalgamation agreement dated June 26, 2020, as amended on October 21, 2020. The agreement was among Cybin Corp., Clarmin and 2762898 Ontario Inc. (“SubCo”), a wholly-owned subsidiary of the company (the “reverse takeover”), in which the reverse takeover was completed by way of a “three-cornered” amalgamation pursuant to the provisions of the Business Corporations Act (Ontario). Through the reverse takeover, Cybin Corp. amalgamated with SubCo to form an amalgamated corporation and a wholly owned subsidiary of the company. The company now focuses on the business of Cybin Corp., which includes psychedelic drug development, unique delivery mechanisms, improved novel compounds and protocols that target psychiatric and neurological conditions. “We are very pleased to have completed the reverse takeover and to have received conditional approval to list CYBIN’s shares on the NEO Exchange. We anticipate it will help us to enhance our visibility within the investment community and broaden our investor base, with the goal of building long-term shareholder value. It also represents an important step forward in advancing our development plans,” said Doug Drysdale, CYBIN’s chief executive officer. “We believe in the application of psychedelic therapies and look forward to advancing them and our other product candidates.”
To view the full press release, visit https://nnw.fm/9KoWF
About CYBIN Inc.
CYBIN is a life sciences company advancing psychedelic pharmaceutical treatments for various psychiatric and neurological conditions. CYBIN is developing technologies and delivery systems aiming to improve bioavailability to achieve the desired effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through clinical trials to confirm safety and efficacy. For more information, visit the company’s website at www.CYBIN.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBIN are available in the company’s newsroom at http://nnw.fm/Cybin
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork