PsyBio Therapeutics Corp announced that it has filed and obtained receipts for a final base shelf prospectus. The prospectus was filed with the securities regulatory authorities in each of the provinces and territories of Canada.
The Oxford, Ohio-based company shared that the final base shelf prospectus will be valid for a 25-month period, during which PsyBio may offer and issue subordinate voting shares, multiple voting shares, warrants, options, subscription receipts, debt securities, and units, having an aggregate offering price of up to C$100 million.
READ: PsyBio Therapeutics successfully demonstrates commercial-scale manufacturing feasibility
"The shelf filing is another step that the company is taking to offer institutional investors streamlined access to invest in the company's securities," said Evan Levine, CEO of PsyBio.
PsyBio also announced that from November 2, 2021, it has retained Integral Wealth Securities Limited to provide market-making services in accordance with the policies of the TSX Venture Exchange.
The company will pay Integral Wealth a monthly cash fee of C$7,500, and any reasonable costs and expenses it incurs in connection with the services provided.
The biotech company has retained Integral Wealth for no less than a three-month term. Integral Wealth will not receive any securities of PsyBio as compensation pursuant to the agreement.
PsyBio and Integral Wealth are unrelated and unaffiliated entities, the company said. Integral Wealth does not currently own any securities of PsyBio. However, Integral Wealth and its clients may acquire a direct interest in the securities of the company.
PsyBio is an intellectual property-driven biotechnology company developing new, bespoke, psycho-targeted therapeutics to potentially improve mental and neurological health.
Research and development are currently ongoing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines, and combinations.
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