Cybin Inc. (NEO:CYBN) (NYSE:CYBN) progressing “Psychedelics to Therapeutics ™"
Channel: RICH TV LIVE
Date: 05/04/2022

Cybin Inc. (NEO:CYBN) (NYSE:CYBN) progressing “Psychedelics to Therapeutics ™" - RICH TV LIVE - April 5, 2022 - #cybin #psychedelics #richtvlive #trading #stocks #business #news #finance #pennystocks #money #rich #richtv #richpicksdaily #investing #biopharmaceutical - Cybin Inc. ( NEO:CYBN ) (NYSE AMERICAN:CYBN) (“ Cybin ” or the “ Company ”), a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics ™ ”, is pleased to announce that Adelia Therapeutics Inc. (“ Adelia ”), a wholly-controlled subsidiary of Cybin, has achieved the milestone identified as Year 1, Q2 (iv) as contemplated by the terms of a contribution agreement dated December 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 (the “ Adelia Shareholders ”).

“We are extremely pleased with the rate and speed in which our team has been able to achieve these milestones that support our pipeline of novel psychedelic-based therapeutic candidates,” said Doug Drysdale, Chief Executive Officer of Cybin. “These advancements are important catalysts for our clinical development path as we prepare these programs for our planned clinical trials in 2022.”

Pursuant to the terms of the Transaction Agreement, 22,428.3 Class B common shares in the capital of the Acquiror (the “ Class B Shares ”) shall be issued to the Adelia Shareholders, in satisfaction of the $228,768.77 (approximately US $183,073.60) due to them on meeting a portion of the relevant milestones, at an effective issue price of $10.20 per Class B Share, 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 (the “ Cybin Shares ”) on a 10 Cybin Shares for 1 Class B Share basis, at the option of the holder thereof, subject to customary adjustments. No Class B Shares are exchangeable prior to December 14, 2021, and not more than: (i) 33 1/3% of the Class B Shares will be exchangeable prior to December 14, 2022; (ii) 66 2/3% of the Class B Shares will be exchangeable prior to December 14, 2023; and (iii) thereafter, 100% of the Class B Shares will be exchangeable.

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