Aion Therapeutic Announces Proposed Non-Brokered Private Placement Offering of Units

Aion Therapeutic Inc. (CSE: AION) is pleased to announce that it plans to undertake a non-brokered private placement of up to 50,000,000 units (“Units”) to raise gross proceeds of up to $500,000.00 (the “Unit Offering”). The Units will be offered at a price of $0.01, with each Unit consisting of one common share (“Share”) and one half of one common share purchase warrant (“Warrant”). Each full Warrant will be exercisable to acquire one Share (“Warrant Share”) for a period of eighteen months following the closing of the Unit Offering at an exercise price of $0.10 per Warrant Share.

The Company intends to use the proceeds of the Unit Offering for general working capital purposes. The Unit Offering is expected to close on or about July 31, 2023.

Aion Therapeutic Inc. through its wholly-owned subsidiary, AI Pharmaceuticals Jamaica Limited, is in the business of research and development, treatment, data mining and state-of-the-art artificial intelligence (machine learning) techniques, focused on the development of combinatorial pharmaceuticals, nutraceuticals and cosmeceuticals utilizing compounds from cannabis (cannabinoids), psychedelic mushrooms (psilocybin), fungi (edible mushroom), natural psychedelic formulations (Ayahuasca), and other medicinal plants in a legal environment for this type of discovery.