"This quarter we have made significant strides towards our proposed Business Combination with
2023 Q3 Financial and Capital Markets Highlights:
- On
September 29, 2023 , the Company announced that it intends to complete a non-brokered private placement for gross proceeds of up toC$2,000,000 . This private placement has not closed. - On
August 15, 2023 , the Company andJupiter Acquisition Corporation (NASDAQ:JAQC) ("Jupiter"), a special purpose acquisition company, announced the filing of a registration statement on Form F-4 (as amended, the "Registration Statement") by 1427702B.C. Ltd. ("TopCo") related to the previously announced business combination among Filament, Jupiter and TopCo (the "Business Combination"). OnNovember 14, 2023 and subsequent to quarter-end, Filament and Jupiter announced that theU.S. Securities and Exchange Commission (the "SEC") has declared effective the Registration Statement. - On
July 24, 2023 , the Company announced it had upsized and closed on the private placement financing announcedJuly 19, 2023 for gross proceeds ofC$2,500,000 . - On
July 19, 2023 , the Company and Jupiter announced they had entered into a definitive agreement, datedJuly 18, 2023 , for the Business Combination pursuant to which TopCo, representing the combined business, is expected to be listed on Nasdaq upon closing. - On
July 19, 2023 , the Company announced that it intended to complete a non-brokered private placement for gross proceeds of up toC$2,000,000 . - On
July 14, 2023 , the Company announced a change of auditor fromCrowe MacKay LLP toMNP LLP .
2023 Q3 Operational Highlights:
- On
September 21, 2023 , the Company announced that Magdalena Biosciences, a joint venture formed byFilament andJaguar Health (NASDAQ:JAGX) successfully completed an import of coca leaf to Filament's research and development facility. - On
August 31, 2023 , the Company announced it had entered into a licensing agreement withReset Pharmaceuticals Inc. to license PEX010 and its associated IP for use in a phase 2 clinical trial for the treatment of demoralization syndrome. - On
August 8, 2023 , the Company announced approval from theUnited States Food and Drug Administration for two clinical trials using PEX010, atWashington School of Medicine for the treatment of cancer-related anxiety and at theUniversity of California, Los Angeles studying effects of joining psilocybin treatment with cognitive-behavioural therapy for patients with depression. - On
July 6, 2023 , the Company announced that it will supply psilocybin for two clinical trials that received The Canadian Institutes of Health Research Operating Grants for Psilocybin-assisted Psychotherapy for Mental Health and Substance Use Disorders. The clinical trials will study the effects of Filament's botanical psilocybin drug candidate, PEX010, for alcohol use disorder and treatment-resistant depression.
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FORWARD LOOKING INFORMATION
Certain statements and information contained herein may constitute "forward-looking statements" and "forward-looking information", respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements.
Forward-looking statements regarding the Company are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including risks associated with the closing of the non-brokered private placement that was announced on
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