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  • Psyence Group (PSYG) has announced a non-brokered private placement offering of up to $2,000,000 of unsecured convertible promissory notes
  • The notes are convertible to common shares at any time subject to minimum and maximum share prices
  • The notes mature 24 months from their date of issuance and bear an interest rate of 8 per cent per annum
  • Psyence is a public life science biotechnology company focused on natural psychedelics
  • Psysence Group Inc. (PSYG) opened trading at C$0.20 per share

Psyence Group (PSYG) has announced a non-brokered private placement offering of up to $2,000,000 of unsecured convertible promissory notes.

The notes are convertible at any time. The notes will be automatically converted upon the occurrence of certain events at a 20 per cent discount to the market price of the company’s common shares at the time of conversion, subject to a minimum conversion price of $0.25 and a maximum conversion price of $0.40.

The notes mature 24 months from their date of issuance and bear interest at a rate of 8 per cent per annum.

Psyence is a public life science biotechnology company with a focus on natural psychedelics. Psyence works with natural psilocybin products for the healing of psychological trauma and its mental health consequences in the context of palliative care.

Pysence operates one of the world’s first federally licensed commercial psilocybin mushroom cultivation and production facilities in Lesotho, Southern Africa.

Psysence Group Inc. (PSYG) opened trading at C$0.20 per share.

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