NetworkNewsBreaks – Cybin Inc. (NEO: CYBN) (NYSE
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Posted On: 03/25/2022 6:14:48 PM
NetworkNewsBreaks – Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) Subsidiary Achieves Milestone Outlined in Contribution Agreement
Cybin (NEO: CYBN) (NYSE American: CYBN), a biopharmaceutical company focused on progressing Psychedelics to Therapeutics(TM), has announced that its wholly controlled subsidiary, Adelia Therapeutics Inc., has achieved a key milestone. The milestones were identified in the Dec. 4, 2020, contribution agreement between Cybin and Adelia and include Year 1 Q4 (vi), Year 2 Q2 (ii), Year 2 Q2 (v) and Year 2, Q3 (iii). Others involved in the agreement include Cybin Corp., Cybin US Holdings Inc. and the previous shareholders of Adelia. According to the agreement, Adelia shareholders will be issued 90,546.0 Class B shares in Cybin; those shares are exchangeable for common shares in the capital of Cybin on a 10 Cybin shares for 1 Class B share basis. The transaction is designed to satisfy the C$904,916.81 due to them when the milestone is achieved.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Cybin (NEO: CYBN) (NYSE American: CYBN), a biopharmaceutical company focused on progressing Psychedelics to Therapeutics(TM), has announced that its wholly controlled subsidiary, Adelia Therapeutics Inc., has achieved a key milestone. The milestones were identified in the Dec. 4, 2020, contribution agreement between Cybin and Adelia and include Year 1 Q4 (vi), Year 2 Q2 (ii), Year 2 Q2 (v) and Year 2, Q3 (iii). Others involved in the agreement include Cybin Corp., Cybin US Holdings Inc. and the previous shareholders of Adelia. According to the agreement, Adelia shareholders will be issued 90,546.0 Class B shares in Cybin; those shares are exchangeable for common shares in the capital of Cybin on a 10 Cybin shares for 1 Class B share basis. The transaction is designed to satisfy the C$904,916.81 due to them when the milestone is achieved.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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