Change of name and focus on Filecoin ecosystem

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

16 April 2024

Clarify Pharma PLC

("Clarify Pharma" or the "Company")

Change of Name to File Forge Technology PLC and focus on Filecoin ecosystem

Clarify Pharma plc (AQSE: PSYC), a company previously focusing on investing in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic-based substances, is pleased to announce that it has shifted its focus to being a provider of Filecoin staking nodes. 

Filecoin is a decentralised storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called "Filecoin"), which miners earn by providing storage to clients.

To fund the change in focus, the Company has divested its publicly listed investments in Atai Life Sciences Inc (NASDAQ: ATAI) and Compass Pathways PLC (NASDAQ: CMPS). The Company still holds its stake in Beckley Psytech Limited. 

In conjunction with the change of business focus, the Company is pleased to announce that it is to change its name to File Forge Technology PLC.

The relevant paperwork will be filed with Companies House, and the change of name will be effective once Companies House has issued a certificate of incorporation on change of name. A further confirmatory announcement will be made when the name change is formally effective.

The change aligns the Company's name with its strategic focus to become a value provider for the Filecoin ecosystem.  The Board of Directors believe that the File Forge name better reflects the Company's desire to build an active and engaged community of investors that believe in the opportunity of the Filecoin ecosystem and want public market exposure to this growing market.

Following the name change becoming effective, the Company's ticker symbol, under which its shares are traded on the Aquis Stock Exchange, will be changed to "FILE", and a further announcement will be made; until such time, trading will continue under the "PSYC" stock ticker.

Clarify Pharma is now an operating company and is no longer required to be registered as an Alternative Investment Fund.

The Directors of the Company accept responsibility for this announcement.

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