Cybin (NEO: CYBN) (NYSE American: CYBN), a biotechnology company focused on psychedelic pharmaceutical therapies, has announced that Adelia Therapeutics Inc., its wholly controlled subsidiary, has reached key milestones for Year 1 Q3. The milestones were outlined in last year’s transaction agreement between Cybin, Cybin Corp., Cybin US Holdings Inc. and previous shareholders of Adelia. Based on the agreement, 9,392.6 Class B common shares in the capital of Cybin will be issued to Adelia shareholders; the issuance is designed to satisfy the approximately $251,581.81 owed to the shareholders upon Adelia meeting the outlined milestones. The announcement noted that the Class B shares are exchangeable for common shares in the capital of Cybin on a 10 Cybin shares for 1 Class B share ratio; the announcement also outlined additional guidelines and restrictions, including that no Class B Shares can be exchanged before Dec. 14, 2021.
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About Cybin Inc.
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders. For more information, visit the company’s website at www.Cybin.com.
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