- PsyBio Therapeutics Corp. announced that the company will commence trading on the TSX Venture Exchange under the ticker symbol “PSYB”.
PsyBio Therapeutics Corp. (formerly Leo Acquisitions Corp.) (TSXV: PSYB) is pleased to announce that at the opening of the market today, the Company’s subordinate voting shares will commence trading on the TSX Venture Exchange (the “TSXV”) under the ticker symbol “PSYB”.
On February 19, 2021, the Company announced the closing of its Qualifying Transaction (as defined in TSXV Policy 2.4) (the “Transaction”) with PsyBio Therapeutics, Inc. (“PsyBio”), a US-based biotechnology company developing a new class of drugs intended for the treatment of mental health challenges and other disorders. The Transaction was completed pursuant to the terms of a business combination agreement (the “BCA”) among the Company, 1276949 B.C. Ltd., Eluss, Inc., PsyBio and PsyBio Therapeutics Financing Inc. (“Finco”). Pursuant to the BCA, the Company acquired all of the issued and outstanding shares of PsyBio by way of a “three-cornered” merger under the laws of the State of Delaware and acquired all of the issued and outstanding shares of Finco by way of a “three-cornered” amalgamation pursuant to the provisions of the Business Corporations Act (British Columbia). The Transaction has now received all final approvals, including that of the TSXV. The total number of issued and outstanding subordinate voting shares of PsyBio at the commencement of trading will be 45,695,365 (or 112,838,977 on an as converted basis inclusive of the Company’s non-listed multiple voting shares).
“Listing on the TSXV is an important milestone for PsyBio as we enter the public market with the goal of enhancing our visibility within the investment community and broadening our investor base to build long-term shareholder value. Given our platform’s ability to efficiently develop next generation psychoactive compounds, we envision building a company with the potential to help transform the treatment of mental health challenges and other disorders,” commented Evan Levine, PsyBio’s CEO.
Engagement of Marketing Services
The Company is pleased to announce that it has retained the services of Hybrid Financial Ltd. (“Hybrid”) to provide marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for PsyBio and to broaden the Company’s reach within the investment community. Hybrid has agreed to comply with all applicable securities laws and the policies of the TSXV in providing services to the Company. Under the terms of the Hybrid engagement, which is for an initial six-month period, Hybrid will be paid C$15,000 per month (exclusive of all applicable taxes).
About PsyBio Therapeutics Corp.
PsyBio is a US-based biotechnology company developing a new class of drugs intended for the potential treatment of mental health challenges and other disorders. In collaboration with Miami University based in Oxford, Ohio, PsyBio has retained the global exclusive rights to a proprietary platform technology that biologically synthesizes psilocybin and other targeted next generation psychoactive compounds that are produced naturally in fungi and plants. Management of PsyBio expects that the technology will enable the rapid generation of these highly stable psychoactive compounds cheaper, faster and greener than other published methods.