Cybin Inc., a clinical-stage neuropsychiatry company, announced the results of its annual and special meeting of shareholders held on August 27, 2024. At the meeting, 59.66% of Cybin's total issued and outstanding common shares were represented, and several key resolutions were passed. The appointment of Zeifmans LLP as the company's auditor was approved with 99.29% votes in favor. All nominees for the board of directors were elected with a majority of votes. A significant resolution passed was the consolidation of the company's issued and outstanding common shares by a ratio of up to 50:1, which received 95.46% votes in favor. Post-consolidation, the number of common shares will reduce from 759,692,495 to approximately 19,991,907. The consolidation ratio was set at one new common share...Show More

Cybin Inc., a clinical-stage neuropsychiatry company, announced the results of its annual and special meeting of shareholders held on August 27, 2024. At the meeting, 59.66% of Cybin's total issued and outstanding common shares were represented, and several key resolutions were passed. The appointment of Zeifmans LLP as the company's auditor was approved with 99.29% votes in favor. All nominees for the board of directors were elected with a majority of votes. A significant resolution passed was the consolidation of the company's issued and outstanding common shares by a ratio of up to 50:1, which received 95.46% votes in favor. Post-consolidation, the number of common shares will reduce from 759,692,495 to approximately 19,991,907. The consolidation ratio was set at one new common share for every 38 existing shares. Amendments to Cybin's equity incentive plan, shareholder rights plan, and common share purchase warrants were also approved. The consolidation is subject to CBOE Canada's approval, with the effective date expected to be around September 19, 2024. Cybin is focused on developing proprietary treatments for mental health conditions and is currently working on CYB003 and CYB004 for major depressive disorder and generalized anxiety disorder, respectively.