Lobe Sciences to Resolve Debt Through Share Issuance

Lobe Sciences Ltd., a clinical-stage biopharmaceutical company, announced a shares-for-debt transaction to settle C$1,372,761.20 in fees owed to its management and directors. The settlement involves issuing 12,749,643 common shares at a price of $0.11 per share. This decision is aimed at preserving the company's cash resources for ongoing operations.

The transaction, pending regulatory approval, is classified as a related party transaction under Canadian securities regulations. The issued shares will have a four-month hold period. The company is exempt from certain valuation and approval requirements due to its market capitalization.

Lobe Sciences is focused on advancing therapeutics through its subsidiaries. Current projects include L-130 for chronic cluster headaches and S-100 for sickle cell disease. These programs are in various stages of development, with clinical trials planned for the future.