PharmAla Files Amended and Restated Preliminary Base Shelf Prospectus

Core Viewpoint - PharmAla Biotech Holdings Inc. has filed an amended and restated preliminary short form base shelf prospectus to enhance its financing flexibility over a 25-month effective period, allowing the company to capitalize on favorable market conditions as needed [1][2] Group 1: Prospectus Details - The prospectus enables the company to offer, issue, and sell various securities, including common shares, warrants, and debt securities, with an aggregate offering price of up to C$30,000,000 during the effective period [2][3] - The prospectus has been filed in all provinces and territories in Canada, and it may be used for "at-the-market distribution" through the Canadian Securities Exchange [2][3] Group 2: Current Plans and Debt Settlement - The company currently has no immediate plans to issue any securities under the prospectus and may not proceed with any issuance [4] - The board of directors has approved the settlement of $150,000 owed to arm's length creditors through the issuance of common shares at a price to be determined at the time of settlement [5] Group 3: Company Overview - PharmAla is focused on the research, development, and manufacturing of MDXX class molecules, including MDMA, and aims to alleviate the global backlog of clinical-grade MDMA for trials and commercial sales [6] - The company is the only provider of clinical-grade MDMA for patient treatments outside of clinical trials and has completed proof-of-concept research for several drug candidates [6]