Filament, an exclusively-natural psychedelic drug company, will begin trading on the NEO Exchange on June 24, 2021
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VANCOUVER, BC, June 22, 2021 /CNW/ - Filament Health Corp. ("Filament", the "Company" or the "Resulting Issuer"), an exclusively-natural psychedelic drug discovery and extraction technology company, is pleased to announce it has received final approval to list its common shares on the Neo Exchange Inc. (the "NEO") and will begin trading June 24, 2021 under the symbol NEO: FH.
Filament also completed the previously announced business combination between Filament Ventures Corp. ("Filament Ventures") and 1287396 B.C. Ltd. ("396") in accordance with an amalgamation agreement dated June 7, 2021 (the "Amalgamation Agreement"). Filament Ventures and 396 amalgamated under the Business Corporations Act (British Columbia) to continue as the Resulting Issuer.
"This is an important and exciting progression in Filament's growth," said Filament's Chief Executive Officer, Benjamin Lightburn. "We believe our differentiated platform is well-positioned to address the ongoing mental health crisis and that listing on the NEO will increase our access to capital and marketplace visibility."
As a result of the Transaction, the Filament has 164,689,369 common shares outstanding, and has reserved common shares for issuance of up to (i) 2,625,000 upon exercise of warrants; (ii) 250,200 upon exercise of broker compensation warrants; and (iii) 16,266,639 upon exercise of stock options.
The Resulting Issuer's Board of Directors include Greg Mills (Chair), Ben Lightburn (CEO), Chris Wagner, Jon Conlin (Corporate Secretary) and Maureen O'Connell.
The Resulting Issuer's Officers include Ben Lightburn (CEO), Tom Kineshanko (President), Warren Duncan (CFO), Lisa Ranken (COO) and Ryan Moss (Director of Research).
With deep experience in natural extraction technology commercialization, a robust and innovative IP portfolio, in-house GMP manufacturing, and a Health Canada psilocybin Dealer's License, Filament has built the foundation to support a rapidly-scaling drug development pipeline. The company's first drug candidates, IP-protected extract formulations of p. Cubensis mushrooms are poised to enter into Phase I and Phase II FDA clinical trials in the second half of 2021 – the first ever FDA-approved clinical trials conducted using natural psilocybin.
ABOUT FILAMENT HEALTH
Filament is an exclusively-natural psychedelic drug discovery and extraction technology company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world's mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology commercialization, utilizing its intellectual property portfolio, in-house GMP facility, and Health Canada psilocybin Dealer's License. Filament is headquartered in Vancouver, British Columbia.
NOTICE REGARDING FORWARD LOOKING INFORMATION
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Resulting Issuer's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Resulting Issuer. All forward-looking statements, including those herein are qualified by this cautionary statement.
Although the Resulting Issuer believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Resulting Issuer, the ability of the Resulting Issuer to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating; changes in laws; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.
For more information on the Resulting Issuer, investors are encouraged to review the Resulting Issuer's public filings on SEDAR at www.sedar.com. The Resulting Issuer disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Resulting Issuer's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Filament Health Corp.
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