Algernon Announces Warrant Extension

Core Viewpoint - Algernon Pharmaceuticals Inc. has announced an extension of the expiry date for 4,752,969 outstanding warrants, originally set to expire on May 5, 2025, now extended to November 5, 2025, with the exercise price remaining at $0.52 [1][2]. Summary by Sections Warrants Details - The 2023 Warrants were initially set to expire on November 5, 2024, and were previously extended to May 5, 2025, now further extended by six months to November 5, 2025 [2]. - The exercise price of the 2023 Warrants remains unchanged at $0.52 [2]. Regulatory Approval - The Amendment to extend the expiry date is subject to final approval from the Canadian Securities Exchange (CSE), which has granted an exemption from certain requirements to allow the Amendment [3]. - No action is required from the holders of the 2023 Warrants for the Amendment to take effect [3]. Insider Holdings - Out of the 2023 Warrants, 400 have been exercised, with no exercises occurring in the last six months [4]. - Insiders hold 2,018,982 of the 2023 Warrants, representing 42.5% of the total [4]. - The Amendment may be considered a "related party transaction" under Multilateral Instrument 61-101, but is exempt from formal valuation and minority shareholder approval requirements [4]. Company Overview - Algernon Pharmaceuticals is a Canadian clinical stage pharmaceutical development company focused on addressing unmet global medical needs [6]. - The company also has a subsidiary, Algernon NeuroScience, which is advancing a psychedelic program involving a proprietary form of DMT for stroke and traumatic brain injury [6].