PBM News & Events

Psyence Biomedical announced the voting results from its Annual and Special Meeting of Shareholders, held at 9:00 a.m. Eastern Time on February 12, 2026. Shareholders voted in favour of all matters of business presented at the Meeting, including the election of directors, the appointment of auditors and the approval of share consolidation authority for the board of directors. All director nominees listed in the Company's management information circular dated January 2, 2026 were duly elected as directors of the Company to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. Shareholders approved the appointment of MNP LLP as the Company's auditors for the ensuing year and authorized the Board to fix the auditors' remuneration. Shareholders further approved a special resolution authorizing the Board, in its sole discretion, to implement one or more consolidations of the Company's issued and outstanding common shares, at a ratio of up to 250:1, with such consolidation to be implemented, if at all, at a time and ratio to be determined by the Board. The Company will provide additional disclosure if and when the Board determines to implement any share consolidation, including the final consolidation ratio and effective date, subject to applicable regulatory and exchange approvals.

Psyence Biomedical announced that its board of directors has ratified the entry into a put option agreement with PsyLabs, a developer and manufacturer of pharmaceutical-grade psychedelic compounds. The Put Option Agreement grants PsyLabs the right, but not the obligation, to require the company to make a further equity investment in PsyLabs by way of a share-for-share exchange at arm's length and at fair market value, subject to the terms and conditions set out therein. The Put Option Agreement forms part of a broader strategic and commercial relationship between the parties, including licensing arrangements pursuant to which the company may access PsyLabs' investigational and commercial-scale manufacturing capabilities.

Psyence Biomedical entered into a settlement agreement to resolve a direct shareholder claim made by KAOS Capital. The claim, originally made on January 14 and amplified on January 26, alleged, among other things, improper and oppressive actions on the part of the Company against KAOS, resulting in KAOS suffering alleged damages. The Company, its board of directors and officers have denied the allegations and believe they are unsubstantiated and meritless. On January 16, KAOS issued a notice of application in the Ontario Superior Court with respect to the KAOS Allegations and sought, among other remedies, to adjourn the shareholders' meeting of the Company originally scheduled for January 22. On January 21, the Court dismissed the Application and ordered KAOS to pay the Company's costs fixed in the amount of C$75,000. Under the terms of the settlement, the Company will pay an aggregate amount of $1,500,000 to KAOS and the Company has agreed to release KAOS from any obligation to pay the Costs Award. Furthermore, KAOS agrees that it will sell, or cause to be sold, all the common shares held by it in the Company to a third party designated by the Company at a price of $5 per share. The settlement also includes a full retraction of the unproven KAOS Allegations, a full mutual release of all claims between the parties and such other customary undertakings of a settlement of this nature. The settlement represents a compromise of disputed claims and does not constitute an admission of liability or wrongdoing by the Company, the Board or any of its officers. The Company expects that the settlement will be funded by cash on hand and will be recorded in accordance with applicable accounting standards. Although the Company, the Board and its officers deny any wrongdoing, they have opted for a settlement to avoid further litigation, disruption to the Company's business, and the significant costs related thereto.