ZYUS Life Sciences Corporation Announces Closing of First Tranche of Secured Loan Financing and Provides an Update on its Annual Filings

About this update from Zyus Life Sciences Corporation

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ SASKATOON, SK, May 20, 2026 /CNW/ - ZYUS Life Sciences Corporation (the "Company") (TSXV: ZYUS), a clinical-stage life sciences company focused on the development and commercialization of novel non-opioid drug candidates for pain management, is pleased to announce that its wholly-owned subsidiary, ZYUS Life Sciences Inc. ("ZYUS Inc."), has closed a first tranche (the "First Tranche") of a secured loan financing (the "Secured Loan") on May 20, 2026 with certain lenders (the "Lenders"), including certain insiders of the Company, for gross proceeds of CAD$180,000. The aggregate size of the Secured Loan offering is up to CAD$2,000,000. Subject to receipt of approval from the TSX Venture Exchange (the "Exchange"), the Secured Loan will be secured by a security interest granted under the terms of a general security agreement (subject to an exception in respect of certain assets). The Secured Loan bears interest at a rate of 12% per annum, payable on maturity, is pre-payable by the ZYUS Inc. at any time without penalty or premium, and will mature on November 19, 2026. Certain insiders of the Company (the "Insiders") participated in the First Tranche for an aggregate amount of CAD$100,000. Such participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as the Insiders are member of the Board of Directors of the Company (the "Director Lenders"). The Director Lenders abstained from voting on the approval of the of the Secured Loan by the Board of Directors of the Company. The Company has relied on the exemption from the valuation requirement pursuant to section 5.5(b) (Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by section 5.7(1)(a) (Fair Market Value Not More Than 25 Percent of Market Capitalization) of MI 61-101. The Company did not file a material change report more than 21 days before issuance of the Secured Loan because the details of the Secured Loan were not settled until recently. The Company intends to use the net proceeds of the First Tranche for general working capital ...

View stock analysis, news, and events for Zyus Life Sciences Corporation