Clarify Pharma PLC - Clarify's Admission to the AQSE Growth Market
RNS Number : 5556B
Clarify Pharma PLC
11 June 2021
 

Press Release

11 June 2021

Clarify Pharma PLC

("Clarify Pharma" or the "Company")

First day of dealings

Admission to the AQSE Growth Market

 

Clarify Pharma, an investment vehicle focusing on investing in biotech and life sciences companies seeking to prove the safety and efficacy of psychedelic-based substances, is pleased to announce that dealings in its Ordinary Shares will commence on the Aquis Stock Exchange Growth Market (AQSE) from 8am today, 11 June 2021.

The shares will be traded under the ticker symbol PSYC. The ISIN code is GB00BMCD8M81, and the SEDOL code is BMCD8M8.

The Company has been admitted to the Access segment of the AQSE following a placing and subscription at 2.5p per share, that raised a combined £1.96 million. For every two new shares subscribed, each placee and subscriber will be issued one warrant to subscribe for an ordinary share at 2.5p per share, which can be exercised at any time before the second anniversary of admission.

Psychedelics are a class of substances whose primary effect is to trigger non-ordinary stages of consciousness via serotonin receptor agonism. This effect can cause specific psychological, visual and auditory changes and often a substantially altered state of consciousness. The potential benefits of psychedelic drugs have been recognised in both the UK and the US and psychedelics are progressively emerging as alternative candidates to conventional therapies for individuals suffering from elusive maladies like PTSD, addiction, Alzheimer's, and depression.

On admission, the Company will have 297,195,000 ordinary shares in issue, valuing Clarify Pharma (at the issue price) at a market capitalisation of approximately £7.43 million.

First Sentinel Corporate Finance acted as the Company's corporate adviser and joint broker alongside Tennyson Securities.

The flotation will enable Clarify Pharma to make investments in companies that explore the benefits of psychedelics in therapeutic medicine as well as provide new funds for the Company to execute its portfolio driven investment strategy and realise long-term value creation.

The Board also considers that there is a sizable potential market for psychedelic and nutraceutical products with prospects for a strong, psychedelic and nutraceutical industry to emerge globally. According to analysts, it is expected that the global psychedelics industry will be worth over US$100 billion.

Jonathan Bixby, Executive Chairman of Clarify Pharma, said: "Clarify Pharma's admission to the AQSE Growth Market is a key milestone on our journey into an innovative and cutting-edge medical frontier. In this nascent and growing market, we are determined to provide companies with the capital they need to advance in their research on the benefits of psychedelic-assisted psychotherapy. Such therapies have the potential to deliver a timely solution to the widespread impact which the pandemic has had on mental health. The stock listing in London will provide a strategic platform for reaching our long-term investment goals, generating value for our shareholders."

 

Company Highlights

The Company will look to identify investment opportunities in the life sciences sector within the UK, Canada and other growing markets. The Board intends to generate long-term capital growth and build investments in an R&D pipeline of companies which are discovering, developing, or deploying safe and evidence-based psychedelic inspired medicines and experiential therapies that alleviate mental health problems and enhance wellbeing.

Clarify Pharma will assemble a portfolio of companies that focus on the development of psychedelic inspired medicines and experiential therapies for human clinical trials under the supervision and strict adherence to the guidelines of the United Kingdom's MHRA, Canada's Health Canada as well as similar regulatory authorities in other jurisdictions where Clarify or its Investee Companies operate.

The Company's Directors have an established track record, experience and networks in the psychedelic, cannabinoid and media industries, to drive value creation.

 

For further information please contact:

Clarify Pharma

 

Jon Bixby

Executive Chairman

via Tancredi +44 207 887 7633

 

 

 

First Sentinel

 

Corporate Adviser

Brian Stockbridge

 

+44 7876 888 011

Tennyson Securities

 

Corporate Broker

Peter Krens

+44 207 186 9030

Tancredi Intelligent Communication

 

Media Relations

Catrina Daly

Emma Hodges

Salamander Davoudi

clarifypharma@tancredigroup.com

 

+44 7727 153 868

+44 7861 995 628

+44 7957 549 906

 

 

 

 

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