Lobe Sciences Ltd. strengthens its balance sheet
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Vancouver, British Columbia–(Newsfile Corp. – February 24, 2022) – Lobe Sciences Ltd. (CSE: LOBE) (OTCQB: LOBEF) (the “Acquirer“) announces, in accordance with the alert requirements of Canadian securities laws, that on February 22, 2022 and on February 23, 2022, it sold an aggregate of 4,500,000 common shares in the capital of Ionic Brands Corp. (the “Transmitter” and the ordinary shares of the Issuer called the “Ordinary actions“), which were originally issued to the Purchaser on February 3, 2022 in partial consideration for the sale to the Issuer of certain assets of the Purchaser.
Following the disposition of the Common Shares described herein, the Purchaser owns and exercises control and direction over 39,614,893 Common Shares, representing approximately 15% of the issued and outstanding Common Shares of the Issuer on a undiluted basis.
This press release is issued in accordance with the early warning requirements of National Instrument 62-103 – The Early Warning System and Related Issues Related to Takeover Bids and Insider Reporting and National Instrument 62-104 – Takeover Bids and Issuer Bids of the Canadian Securities Administrators, which also requires that an alert report be filed with the competent Canadian securities regulatory authorities containing additional information with respect to the aforementioned matters (the “Early warning report“). A copy of the alert report will appear under the issuer’s profile on the SEDAR website at www.sedar.com. A copy of the early warning report can also be obtained on request at the contact details below.
About Lobe Sciences Ltd.
Lobe Sciences is a life science company focused on psychedelic drugs. The company, through collaborations with leading partners, is engaged in the research and development of drugs using psychedelic compounds and in the development of innovative delivery devices and mechanisms to improve mental health and well-being. to be.
For more information, please contact:
Lobe Sciences Ltd.
Philip J Young, CEO
Tel: (949) 505-5623
THE CSE HAS NOT REVIEWED AND ACCEPTS NO RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Disclaimer for forward-looking statements
This press release contains forward-looking statements relating to the Company’s future operations and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the company’s future plans and goals, research and development using psychedelic compounds, and the development of innovative devices and delivery mechanisms for improve mental health and well-being, are transmitted. – forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in preparing forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including changes to the regulatory environment; that the Company’s drug research and development activities could fail; that drugs and medical devices produced by or on behalf of the Company may not perform as intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to achieve the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure documents from time to time, available under the Company’s profile at www.sedar.com. Accordingly, the Company cannot guarantee that any forward-looking statements will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release speak only as of the date of this press release and the Company does not intend to update the forward-looking statements included, except as expressly required by law. Canadian securities applicable.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114713