PsiloTec Health Solutions Inc. Closes a Seed Round Non-Brokered Unit Offering for $5.4 Million
PsiloTec Health Solutions Inc. (“PsiloTec” or the “Company”), a mental healthcare and psychedelic therapy focused innovator, is pleased to announce that it has closed a non-brokered seed round Unit Offering of 10,759,000 Units at a price of $0.50 per Unit, (the “Offering”). Each Unit consists of one Psilotec common share (the “PsiloTec Share”) and one-half of one common share purchase warrant (the “Warrant”). Each whole Warrant entitles the holder thereof to acquire one PsiloTec Share at an exercise price of $1.00 per PsiloTec Share, until April 14, 2023; provided, however, that if the PsiloTec Shares (or any securities into which the PsiloTec Shares are exchanged or converted) trade on a recognized stock exchange at a volume-weighted average price of $1.40 or more per PsiloTec Share, for a period of at least ten consecutive trading days, PsiloTec may accelerate the expiration of the $1.00 PsiloTec Warrants to a period ending 30 days from the date that notice of such acceleration is provided to the holders of $1.00 PsiloTec Warrants. The Offering was subscribed for by accredited investors only.
About PsiloTec
PsiloTec is a biopharmaceutical company engaged in the development and delivery of integrated mental health therapies to address psychological and neurological mental health conditions. PsiloTec is focused on the research, development and commercialization of psychedelic-based compounds coupled with therapeutic treatment programs targeting a continuum of mental health conditions, such as MDD (major depressive disorder), TRD (treatment resistant depression), PTSD (post-traumatic stress disorder), general depression, anxiety disorders, and a number of addictive tendencies. PsiloTec aims to leverage leading technologies to support the scalability and accessibility of its integrated therapy programs in its mission to enable those experiencing mental health challenges to thrive.
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