From GlobeNewswire:

IntelGenx Technologies Corp. announces a new loan agreement with atai Life Sciences AG, providing for two term loans totaling US$2 million. The loans will mature in 2026, and atai has the option to convert the principal into shares of IntelGenx Technologies Corp. The company has also issued 4,000,000 warrants to atai and received a previous loan of US$500,000. This related party transaction falls under Multilateral Instrument 61-101 and was exempt from formal valuation and minority approval requirements. The acquisition also triggers early warning disclosure requirements, with atai potentially controlling 67% of the company’s shares on a partially diluted basis. For more information on IntelGenx Technologies Corp., visit their website at www.intelgenx.com.



Read more at GlobeNewswire: IntelGenx Enters Into a Third Amended and Restated Loan