Representative Matters

Cybin Completes RTO of Clarmin Explorations, $45 Million Private Placement and Listing on NEO Exchange

On November 5, 2020, Cybin Inc. (the “Company”), completed a reverse takeover of Clarmin Explorations Inc. (“Clarmin”) pursuant to the terms of an amalgamation agreement among Cybin Corp., Clarmin and a wholly-owned subsidiary (“SubCo”) of Clarmin (the “Reverse Takeover”).

The Reverse Takeover was completed by way of a “three-cornered” amalgamation whereby Cybin Corp. merged with SubCo to form a wholly owned subsidiary of Clarmin. Clarmin subsequently changed its name to “Cybin Inc.” Following completion of the Reverse Takeover, the common shares of the Company began trading on the NEO Exchange under the symbol “CYBN.”

In connection with the Reverse Takeover, Cybin Corp. completed a private placement offering of 60 million subscription receipts at a price of $0.75 per subscription receipt for aggregate gross proceeds of $45 million. On completion of the Reverse Takeover, the subscription receipts were exchanged for common shares of the Company.

The Company now focuses on the business of Cybin Corp., which includes psychedelic drug development, unique delivery mechanisms, improved novel compounds and protocols that target psychiatric and neurological conditions.

Aird & Berlis acted for Cybin Corp. and the Company with a team that included Sherri Altshuler, Melanie Cole, Danny Kharazmi, Sean Green and Meredith McCann (Capital Markets/M&A) and Barbara Worndl (Tax).