Apex files phase 2a Clinical Trial Application ("CTA") with Health Canada and announces Series A financing

News provided by

Feb 09, 2022, 13:18 ET

VANCOUVER, BC, Feb. 9, 2022 /PRNewswire/ - "Apex files phase 2a Clinical Trial Application ("CTA") with Health Canada and announces Series A financing"

Apex is pleased to announce its new slate of directors who were approved at an annual general shareholders meeting on December 10^th, 2021, and in Dr. Enrique Carrazana's case, via appointment of the board. The board of directors is now as follows:

Tyler Powell
Arron Victory
Dr. Orion Lekos
Dr. Peter Tomlinson
Dr. Enrique Carrazana
Tom McGaugh
James Pakulis

Apex Labs is also excited to announce the filing of a phase 2a Clinical Trial Application ("CTA") with Health Canada on February 3^rd, 2022. This CTA is for a randomized, double-blind, placebo-controlled, dose-finding study to evaluate the safety, tolerability and efficacy of psilocybin in Veterans with post-traumatic stress disorder using drug product APEX-002. Apex has secured its Veteran patient base, clinical trial location and Qualified Investigator for its phase 2a program expected to launch as early as Q2/Q3 2022.

Lastly, Apex is announcing its Series A financing round and is expecting to offer up to 8,000,000 units at $0.50 per unit for gross proceeds of up to $4,000,000 putting Apex at an approximately $12,000,000 pre-money valuation. Similar to the previous financing rounds, each unit will be comprised of one common share and one-half warrant. Each warrant will entitle the subscriber to purchase an additional common share at $0.75 per common share for a term of 24 months. Please email [email protected] for a copy of a supporting term sheet and subscription agreements if you would like to participate in the financing.

Kindest regards,

Tyler Powell
Chief Executive Officer
Apex Labs Ltd.

SOURCE Apex Labs Ltd.