Company: CYBN
Filing Date: 2025-09-17
Form Type: F-10/A
Source: 0001062993-25-015680
Chunk: 48

Company: CYBIN INC.
Filing Date: 2025-09-17
Form: F-10/A
Chunk 48
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 it engages. Such due diligence includes but is not limited to the review of necessary licenses and the regulatory framework enacted in the jurisdiction of operation. Further, the Corporation generally obtains, under its contractual arrangements, representations and warranties from such third parties pertaining to compliance with applicable licensing requirements and the regulatory framework enacted in the jurisdiction of operation.

<div align='center'>CONSOLIDATED CAPITALIZATION</div>

Other than as disclosed herein and in the documents incorporated by reference in this Prospectus, there have been no material changes to the share and loan capitalization of the Corporation since the date of the Interim Financial Statements.

The following table sets forth the consolidated capitalization of the Corporation as at September 16, 2025, the date immediately before the date of this Prospectus. This table should be read in conjunction with the Interim Financial Statements and the related notes and the Interim MD&A that are incorporated by reference in this Prospectus. On September 19, 2024, the outstanding Common Shares were consolidated on the basis of one new Common Share for every 38 existing Common Shares (the "Consolidation"). All figures in the table below related to securities are represented on a post-Consolidation basis.

<div align='center'>23</div>

| Description of Capital         |     | September 16, 2025 |
|:-------------------------------|:----|:-------------------|
| Loans and Borrowings           |     | $34,750,000(2)     |
| Common Shares                  |     | 25,188,217(3)      |
| Stock options                  |     | 3,994,716(4)       |
| Common Share purchase warrants |     | 2,796,197(5)       |

Notes:

(1)Principal amount of Convertible Debentures issued and outstanding.

(2)Since the date of the Interim Financial Statements, an aggregate of (i) 1,590,298 Common Shares were issued on conversion of the Convertible Debentures, and (ii) 7,894 Common Shares were issued upon exercise of certain options to purchase Common Shares.

(3)On August 15, 2025, options to purchase an aggregate of 53,800 Common Shares at an exercise price of $10.00 per Common Share and options to purchase an aggregate of 80,000 Common Shares at an exercise price of $11.00 per Common Share were granted under the Corporation’s equity incentive plan (the "Equity Incentive