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Vancouver, British Columbia, June 22, 2021
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 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 and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.
Anna Cordon, Director of Communications
FORWARD LOOKING INFORMATION
Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.