Psyence Group swaps debt for equity with Psyence Biomedical Ltd, focusing on psilocybin-based medicines.

From GlobeNewswire: 2024-12-06 11:06:00

Psyence Group Inc has entered into agreements with Psyence Biomedical Ltd to swap debt for equity, resulting in the issuance of over 337,000 common shares by Psyence Biomed to Psyence Group. Additionally, Psyence Group has sold its minority stake in PsyLabs to Psyence Biomed in exchange for over 257,000 common shares. The Company’s board of directors has approved these transactions, and Psyence Biomed has agreed to register the resale of the common shares issued to Psyence Group within 60 days. These agreements are part of Psyence Group’s focus on natural psychedelics and the development of psilocybin-based medicines.



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