Cybin (NEO: CYBN) (NYSE American: CYBN), a biotechnology company focused on psychedelic pharmaceutical therapies, has announced that Adelia Therapeutics Inc., its wholly controlled subsidiary, has reached key milestones for Year 1 Q3. The milestones were outlined in last year’s transaction agreement between Cybin, Cybin Corp., Cybin US Holdings Inc. and previous shareholders of Adelia. Based on the agreement, 9,392.6 Class B common shares in the capital of Cybin will be issued to Adelia shareholders; the issuance is designed to satisfy the approximately $251,581.81 owed to the shareholders upon Adelia meeting the outlined milestones. The announcement noted that the Class B shares are exchangeable for common shares in the capital of Cybin on a 10 Cybin shares for 1 Class B share ratio; the announcement also outlined additional guidelines and restrictions, including that no Class B Shares can be exchanged before Dec. 14, 2021.
To view the full press release, visit https://nnw.fm/LFOI5
About Cybin Inc.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://nnw.fm/CYBN
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