QualityStocksNewsBreaks – Cybin Inc. (NYSE American: CYBN) (NEO: CYBN) Announces Achievement of Adelia Milestones
Cybin (NYSE American: CYBN) (NEO: CYBN), a biotechnology company focused on psychedelic pharmaceutical therapies, has announced that Adelia Therapeutics Inc., a wholly-controlled subsidiary of Cybin, has achieved the milestones identified as “Year 2 Q1 (i)-(iii).” According to the update, the milestones were contemplated by the terms of a contribution agreement dated Dec. 4, 2020, among Cybin, Cybin Corp., Cybin US Holdings Inc. (the “acquiror”), a wholly controlled subsidiary of Cybin, and all previous shareholders of Adelia. Per the terms of the agreement, Class B common shares in the capital of the acquiror shall be issued to Adelia shareholders, in satisfaction…