TORONTO, April 17, 2025 (GLOBE NEWSWIRE) — Psyence Group Inc. (“Psyence Group” or the “Company”) (CSE: PSYG), announces that the Company will be consolidating all of its issued and outstanding share capital (the “Common Shares”) on the basis of every fifteen (15) old Common Shares into one (1) new Common Share (the “Share Consolidation”), effective April 23, 2025 with a record date of April 23, 2025 (the “Record Date”).
As a result of the Share Consolidation, the issued and outstanding Common Shares will be reduced to approximately 9,387,695 on the effective date of April 23, 2025. No fractional shares will be issued as a result of the Share Consolidation. All fractions of Common Shares will be rounded down to the next lowest whole number. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and the number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon the Share Consolidation.
The Share Consolidation is subject to completion of appropriate regulatory filings with the Canadian Securities Exchange (the “CSE”). The Common Shares are expected to begin trading on a post-Share Consolidation basis on the Canadian Securities Exchange when markets open on April 23, 2025. The Company’s new CUSIP number will be 74449Q205 and the new ISIN number will be CA74449Q2053. The Company’s name and trading symbol “PSYG” will remain unchanged.
Registered shareholders, holding shares in certificate form, as of record as at the Record Date will receive a letter of transmittal as soon as practicable following the Record Date providing instructions for the exchange of their new Common Share certificates representing Common Shares on a post-Share Consolidation basis. Registered shareholders, holding shares in DRS/book form, as of record as at the Record Date will not receive a letter of transmittal and will automatically, as soon as practicable following the Record Date, receive their new Common Share DRS representing Common Shares on a post-Share Consolidation basis. Shareholders who hold their Common Shares through a broker or other intermediary and do not have Common Shares registered in their own name will not be required to complete a letter of transmittal.
The Company received approval from its shareholders for the Share Consolidation at its Annual General and Special Meeting that took place on June 7, 2024. Pursuant to the Business Corporations Act (Ontario), the Board of Directors of the Company approved the Share Consolidation on April 16, 2025.
The Company believes that Share Consolidation will position the Company with greater flexibility for the development of its business and the growth of the Company.
On behalf of the Board of Directors of the Company,
About Psyence Group and Psyence BioMed (Psyence Group’s NASDAQ-Listed Associate):
Psyence Group is a life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG), with a focus on natural psychedelics. Psyence BioMed is the world’s first life science biotechnology company traded on the Nasdaq (NASDAQ: PBM) that is focused on the development of botanical (nature derived, or non-synthetic) psilocybin-based psychedelic medicines, and works with natural psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research.
Informed by nature and guided by science, Psyence Group works to develop advanced natural psilocybin products for clinical research and development.
Learn more at www.psyence.com.
Learn more at www.psyencebiomed.com and on LinkedIn.
Contact Information for Psyence Group
Email: ir@psyence.com
Media Inquiries: media@psyence.com
General Information: info@psyence.com
Phone: +1 416-477-1708
Contact Information for Psyence BioMed
Email: ir@psyencebiomed.com
Media Inquiries: media@psyencebiomed.com
General Information: info@psyencebiomed.com
Phone: +1 416-477-1708
Investor Contact:
Michael Kydd
Investor Relations Advisor michael@psyencebiomed.com