Business
ZYUS Life Sciences Corporation Announces Issuance of Bonus Warrants Pursuant to Loan Agreements
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Zyus Life Sciences Corporation
[{"type":"text","content":"ZYUS Life Sciences Corporation Announces Issuance of Bonus Warrants Pursuant to Loan Agreements\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n\n\n\n\n ZYUS Life Sciences Corporation (the “\n \n Company\n \n ”) (TSX-V: ZYUS), a Canadian-based life sciences company focused on the development and commercialization of novel cannabinoid-based pharmaceutical drug candidates for pain management, announces that it has received conditional acceptance from the TSX Venture Exchange (the “\n \n Exchange\n \n ”) to issue certain common share purchase warrants to independent directors of the Company (“\n \n Lenders\n \n ”) in connection with the issuance and amendment of certain unsecured loans announced in its previous press releases of March 10, 2025 and March 17, 2025.\n \n\n As previously announced on March 10, 2025, unsecured loans between the Company and one of its independent directors entered on October 1, November 5 and December 20, 2024 (the “\n \n Prior Unsecured Loans\n \n ”) had their maturity dates of April 1, May 5, and June 20, 2025, respectively, extended to March 28, 2027. Additionally, the director also advanced an additional unsecured loan (“\n \n Loan 1\n \n ”) to the Company in the amount of CAD$1,500,000. In exchange for amending the maturity dates of the Prior Unsecured Loans and advancing Loan 1, the director received an aggregate of 4,875,000 common share purchase warrants having an expiry date of April 11, 2027, subject to the acceleration conditions described in the Company’s March 10, 2025 press release. Each warrant entitles the director to acquire one common share of the Company at an exercise price of $0.80 per common share until the expiry date. The warrants and any shares issuable on exercise thereof are subject to a statutory hold period expiring on August 12, 2025 in accordance with applicable Canadian securities law.\n \n\n As announced on March 17, 2025, a promissory note agreement having a maturity date of August 27, 2025 (the “\n \n Promissory Note\n \n ”) previously entered between the Company’s wholly-owned subsidiary, ZYUS Life Sciences Inc., and a second independen...