On April 3, 2025, we announced Filament’s intention to voluntarily delist from the Cboe Canada Exchange. This decision was made after thoughtful consideration, and reflects what our leadership team believes is in the best long-term interest of both our shareholders and the company.
Maintaining a public listing requires significant financial and operational resources. For early-stage biotech companies like Filament, these costs can outweigh the benefits, particularly when trading volume is low and the listing does not contribute meaningfully to capital raising or investor reach.
By delisting, we aim to reduce unnecessary expenses and redirect those funds into our core priorities, including clinical development and strategic growth initiatives. We also believe this move clears the path for a potential future uplisting to a senior U.S. national exchange, which could offer increased liquidity, broader investor reach, and stronger capital markets access.
Access to capital remains a critical focus for Filament. Delisting from an exchange that offers limited value is a strategic step toward ensuring long-term sustainability and creating value for shareholders. We remain committed to operating just as a public company would and meeting all associated regulatory and reporting requirements, even while we are not listed on a Canadian exchange.
Importantly, the proposed delisting will not affect current shareholder allocations. While our shares will not be liquid during the unlisted period, they have historically had minimal liquidity on Cboe Canada as well. We believe this transition will have minimal short-term impact on shareholders while positioning us for more meaningful opportunities ahead.
The delisting is subject to shareholder approval at a Special Meeting scheduled for May 6, 2025. If approved, we will proceed with the delisting while continuing to advance Filament’s mission with renewed focus and financial efficiency.
