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As consideration for the Proposed Acquisition, Psyence Biomed will issue $500,000 of the Company's common shares upon closing to Clairvoyant's disposing shareholders, followed by potentially up to two share-based payments of $250,000 each (payable in cash or common shares, at the Company's election) upon the achievement of pre-specified milestones by December 2026.
In addition, Psyence Biomed will advance funds in tranches of up to $1.80 million in aggregate to Clairvoyant in order to settle its liabilities, which consist primarily of clinical trial costs.
Posted In: PBM
