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ZYUS Life Sciences Corporation Announces Closing of Secured Loan and Amendments to Prior Secured Promissory Note
ZYUS Life Sciences Corporation Announces Closing of Secured Loan and Amendments to Prior Secured ...
About this update from Zyus Life Sciences Corporation
[{"type":"text","content":"\n\n\nZYUS Life Sciences Corporation Announces Closing of Secured Loan and Amendments to Prior Secured Promissory Note\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\nSASKATOON, SK , Oct. 17, 2025 /CNW/ - ZYUS Life Sciences Corporation (the \"Company\") (TSXV: ZYUS), a Canadian-based life sciences company focused on the development and commercialization of novel cannabinoid-based pharmaceutical drug candidates for pain management, is pleased to announce that an independent director of the Company (the \"Director Lender\") has advanced a CA$1.5 million secured loan (the \"Director Loan\") to ZYUS Life Sciences Inc., a wholly-owned subsidiary of the Company (\"ZYUS Inc.\"), which closed on October 16, 2025, (the \"Loan\"). The Loan was advanced in separate tranches of $200,000, $300,000, $500,000 and $500,000 on August 12th, 2025, August 25th, 2025, September 8th, 2025 and September 22nd, 2025, respectively. Subject to receipt of approval from the TSX Venture Exchange (the \"Exchange\"), the Loan will be secured by a security interest granted under the terms of a general security agreement over all assets of ZYUS Inc. (subject to an exception in respect of certain assets). The Loan bears interest at an annual rate of 12%, is payable on maturity, is pre-payable by the Company at any time without penalty or premium and will mature on October 31, 2027.\n\n\n\n\n\n\n\nAs consideration for providing the Loan, the Director Lender will receive an aggregate of 2,173,913 common share purchase warrants (the \"Warrants\") which will have an expiry date two years from the date of issuance, subject to acceleration as described below. Each Warrant will entitle the lender to acquire one common share of the Company at an exercise price of $0.69 per common share until the expiry date. The issuance of the Warrants is subject to approval by the Exchange.\nThe Director Lender has also com...