| Source: Psyence Group Inc.
TORONTO, June 18, 2025 (GLOBE NEWSWIRE) — Psyence Group Inc. (CSE: PSYG) (“Psyence” or the “Company”), a life science biotechnology company pioneering the use of nature-derived psilocybin in mental health and wellbeing is pleased to announce an offering of a non-brokered private placement (the “Offering”) of up to 6,000,000 common shares of the Company (the “Common Shares”) at a price of C$0.10 per Common Share for gross proceeds of up to C$600,000. No finder’s fees or commissions will be payable in connection with the Offering.
The Company intends to use the net proceeds of the Offering to evaluate and pursue potential strategic transactions, including the identification, due diligence, and negotiation of one or more acquisitions, business combinations, or other transactions that may constitute a “Significant Transaction” under the policies of the Canadian Securities Exchange (the “Exchange”). Pending such transactions, proceeds may also be used for general and administrative expenses, maintaining the Company’s listing status, and general working capital purposes.
The Offering is expected to close on or about June 25, 2025, or such other date as the Company may determine, and is subject to certain conditions, including receipt of all necessary regulatory approvals.
The securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. In the event the Company undertakes a transaction that constitutes a fundamental change, change of business, reverse takeover, or other reviewable transaction as defined under applicable securities laws and Exchange policies, the resale restrictions may extend beyond four months and one day following the completion of such transaction. There can be no assurance that any transaction will be identified or completed, and the Company may reallocate the use of proceeds depending on evolving business needs and market conditions.
ABOUT PSYENCE GROUP: www.psyence.com
Psyence is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG), with a focus on natural psychedelics. Psyence works with nature-derived psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research.
Informed by nature and guided by science, Psyence works to develop advanced nature-derived psilocybin products for clinical research and development.
Contact Information
Learn more at www.psyence.com.
Email: ir@psyence.com
Media Inquiries: media@psyence.com
General Information: info@psyence.com
Phone: +1 416-477-1708
FORWARD LOOKING STATEMENTS:
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. These risks and uncertainties include the successful closing of the Offering, the successful deployment of the Offering proceeds and the identification of opportunities in the market. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.
