NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
SASKATOON, Saskatchewan, May 16, 2025--(BUSINESS WIRE)--ZYUS Life Sciences Corporation (the "Company") (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, is pleased to announce that, further to its press releases dated May 1 and May 6, 2025, it has closed the second and final tranche (the "Second Tranche") of its non-brokered private placement (the "Offering") of units of the Company (each a "Unit") through the issuance of a further 871,212 Units for gross proceeds of $574,999.92. The aggregate gross proceeds raised in the Second Tranche and first tranche of the Offering (which closed on May 6, 2025) (the "First Tranche") is approximately $1.37 million.
The Company issued a total of 2,083,333 Units each priced at $0.66 per Unit in the Offering. Each Unit consists of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"), whereby each Warrant entitles the holder to acquire one Common Share at a price of $0.94 for a period of twenty-four months from the date of issuance, unless the term of the Warrant is accelerated pursuant to its terms. Proceeds of the Offering will be used for general corporate and working capital purposes. No finder’s fees were paid in connection with the Offering.
The Units were offered by way of private placement pursuant to exemptions from prospectus requirements under applicable securities laws. All securities issued under the First Tranche are subject to a hold period expiring September 7, 2025 and all securities issued under the Second Tranche are subject to a hold period expiring September 16, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "TSXV"). The Offering has received conditional approval from the TSXV and remains subject to final acceptance of the TSXV.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States.
About ZYUS Life Sciences Corporation
ZYUS (TSXV: ZYUS) is a life sciences company focused on the development and commercialization of novel cannabinoid-based pharmaceutical drug candidates for pain management. Through rigorous scientific exploration and clinical research, ZYUS aims to secure intellectual property protection, safeguarding its innovative therapies and bolstering shareholder value. ZYUS’ unwavering commitment extends to obtaining regulatory approval of non-opioid-based pharmaceutical solutions, in pursuit of transformational impact on patients’ lives. For additional information, visit www.zyus.com or follow us on X @ZYUSCorp.
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company’s business, the Company’s ability to advance clinical research activities, obtain regulatory approval of cannabinoid-based pharmaceutical drug candidates and introduce products that act as alternatives to current pain management therapies such as opioids, receipt of TSXV final acceptance and use of proceeds from the Private Placement. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans", "will" and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the Company’s business, the Company’s ability to advance clinical research activities, obtain regulatory approval of cannabinoid-based pharmaceutical drug candidates and introduce products that act as alternatives to current pain management therapies such as opioids, the Company’s ability to obtain TSXV final acceptance and use of proceeds from the Private Placement are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Company will be able to achieve these results. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
