PSYENCE GROUP INC. Announces Update on Previously Announced Non-Brokered Private Placement of Common Shares

Core Viewpoint - Psyence Group Inc. has successfully raised C$600,000 through a non-brokered private placement of common shares, with the first tranche completed and the second tranche expected to close soon [2][3]. Group 1: Offering Details - The Offering consists of two tranches, with Tranche 1 closing on June 25, 2025, raising C$476,000 by issuing 4,760,000 common shares at C$0.10 each [2]. - Tranche 2 is anticipated to close around July 4, 2025, for the remaining gross proceeds of C$124,000 [2]. - The net proceeds from the Offering will be allocated for general working capital purposes [2]. Group 2: Regulatory Compliance - The Offering was completed under the prospectus exemption available for accredited investors as per National Instrument 45-106 [3]. - All securities issued are subject to a statutory hold period of four months and one day from the issuance date, in accordance with Canadian securities laws [3]. - Resale restrictions may extend beyond the standard hold period if the company undertakes certain transactions or raises additional funds [3]. Group 3: Company Overview - Psyence Group Inc. is a life science biotechnology company focused on natural psychedelics, particularly psilocybin, for mental health and well-being [4][5]. - The company aims to develop nature-derived psilocybin products for clinical research and the treatment of psychological trauma [4][5].