Psyence Biomedical (PBM) has released an update.
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Psyence Group Inc. has agreed to sell a portion of its shares in Psyence Labs Ltd. to Psyence Biomedical Ltd., with the transaction expected to be finalized by October 31, 2024. The sale, representing an 11.13% stake in the company, is contingent upon board approvals and a satisfactory due diligence process by the purchaser. The agreement also includes the production of a psilocybin batch as a condition precedent to the sale.
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