PsyBio Therapeutics Corp. announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 1,000,000 on April 6, 2023. Each unit will consist of one subordinate voting share and one share purchase warrant.

Each warrant will entitle the holder thereof to purchase one common share at an exercise price of CAD 0.10 per warrant share for a period of two years from the first closing date, or 30 days after the date on which the company gives notice of acceleration, which notice may be provided no earlier than four months and twenty-one days from the date of issue if the closing price of the common shares on a stock exchange in Canada is higher than CAD 0.20 per common share for more than 10 non-consecutive trading days days following the date that is four months and one day after the date of issuance and prior to the expiry date of the warrants.