Title: Filament Health Corp. Announces Non-Brokered Private Placement Unit Offering Led by Negev Capital
Summary:
Filament Health Corp., a clinical-stage natural psychedelic drug development company, has announced plans to complete a non-brokered private placement unit offering for gross proceeds of up to C$2 million. The venture fund Negev Capital will lead the offering. Filament Health intends to use the proceeds to advance its Phase 2 methamphetamine use disorder clinical trial and for general corporate purposes.
Detailed Summary:
Companies involved:
– Filament Health Corp.
– Negev Capital
Introduction:
Filament Health Corp. has announced its plans to complete a non-brokered private placement unit offering. Negev Capital, a leading venture fund in the psychedelic drug development space, will lead the offering.
Offering Details:
– Filament Health intends to raise up to C$2 million through the offering.
– The offering will be a non-brokered private placement of up to 13,333,333 units, subject to a minimum of 6,666,667 units.
– Each unit will consist of one common share of Filament Health and one common share purchase warrant.
– The exercise price of each warrant will be C$0.20, representing a 33% premium to the issue price.
– The net proceeds from the offering will be used to advance Filament Health’s Phase 2 methamphetamine use disorder clinical trial and for general corporate purposes.
Statements from Negev Capital and Filament Health:
– Ken Belotsky, Partner at Negev Capital, stated that Filament Health is a pioneering entity in the psychedelic domain and that the company’s focus on combating substance use disorders represents a significant opportunity for value creation.
– Benjamin Lightburn, CEO and Co-Founder of Filament Health, expressed gratitude for Negev’s ongoing support and partnership.
Regulatory Approval and Hold Period:
– The offering is subject to regulatory approval from the NEO Exchange.
– The securities issued under the offering will be subject to a four-month hold period under securities laws.
Legal Requirements:
– The securities offered in the private placement have not been registered under the Securities Act or any state securities laws.
– The offering is available only to persons outside of the United States or any “U.S person” as defined in Regulation S under the Securities Act, unless an applicable exemption from registration is obtained.
About Filament Health Corp.:
Filament Health Corp. is a clinical-stage natural psychedelic drug development company. The company aims to develop safe, standardized, naturally-derived psychedelic medicines. Filament’s proprietary intellectual property enables the discovery, development, and delivery of these natural psychedelic medicines.
