Psyence Biomedical Finalizes PsyLabs Share Swap, Settlement-Linked Loan and Board Changes
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Psyence Biomedical ( (PBM) ) just unveiled an update.
On February 9, 2026, Psyence Biomedical’s subsidiary Psyence Biomed II Corp. extended a US$251,110 short-term, interest-bearing loan to Israel’s Curiosum Ltd. to finance the purchase of 50,220 Psyence shares from the KAOS Group under a previously announced settlement, with repayment tied to Curiosum’s sale of Psyence’s Nasdaq-listed common stock. The loan, which matures three months from signing and is not being forgiven, formalizes a commercial financing arrangement around the settlement and ensures the company retains a legally enforceable claim on the funds.
On February 25, 2026, the company completed a US$5 million share-for-share exchange with PsyLabs, issuing 1,146,159 new Psyence common shares in return for 2,900 PsyLabs shares, leaving PsyLabs with about 49.98% of Psyence’s outstanding stock and further aligning the two controlled-substance businesses. Governance was also reshaped on February 20, 2026, with the resignation of director Seth Feuerstein and the appointment of South Africa-based industry veteran Sashank Pillay to the board and key committees, a move aimed at reinforcing independent oversight and operational expertise as Psyence tightens its strategic partnership with PsyLabs.
More about Psyence Biomedical
Psyence Biomedical Ltd. is a Toronto-based life sciences company focused on psychedelic-assisted therapies and related cultivation and production operations via affiliates. Through its investment in Psyence Labs Ltd. (PsyLabs), which operates psilocybin and cannabis cultivation and production businesses in Africa, the company is deepening vertical integration across research, production and commercialization in controlled substances markets.
Average Trading Volume: 367,765
Technical Sentiment Signal: Sell
Current Market Cap: $2.6M
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