BetterLife Announces Debt Settlements
BetterLife Pharma (OTCQB: BETRF), a biotech company developing BETR-001 for psychiatric and neurological disorders, has announced significant debt settlements through share issuance. The company issued 14,999,303 common shares to settle accounts payable and amounts due totaling $1,499,930. Of this, company officers and directors settled $1.03 million in debt for 10,308,039 shares. Additionally, BetterLife raised $25,000 through the exercise of 250,000 share purchase warrants. The newly issued shares will be subject to a four-month hold period under Canadian securities laws.
BetterLife Pharma (OTCQB: BETRF), una società biotecnologica che sviluppa BETR-001 per disturbi psichiatrici e neurologici, ha annunciato importanti ristrutturazioni del debito tramite emissione di azioni. La società ha emesso 14.999.303 azioni ordinarie per saldare debiti e importi dovuti per un totale di 1.499.930 dollari. Di questi, dirigenti e amministratori hanno estinto 1,03 milioni di dollari di debito in cambio di 10.308.039 azioni. Inoltre, BetterLife ha raccolto 25.000 dollari tramite l’esercizio di 250.000 warrant di acquisto azionario. Le azioni appena emesse saranno soggette a un periodo di blocco di quattro mesi secondo la normativa canadese sui titoli.
BetterLife Pharma (OTCQB: BETRF), una empresa biotecnológica que desarrolla BETR-001 para trastornos psiquiátricos y neurológicos, ha anunciado importantes acuerdos de deuda mediante la emisión de acciones. La compañía emitió 14.999.303 acciones ordinarias para saldar cuentas por pagar y montos adeudados que suman 1.499.930 dólares. De este total, los directivos y oficiales de la empresa cancelaron 1,03 millones de dólares de deuda a cambio de 10.308.039 acciones. Además, BetterLife recaudó 25.000 dólares mediante el ejercicio de 250.000 warrants de compra de acciones. Las acciones recién emitidas estarán sujetas a un período de retención de cuatro meses conforme a las leyes de valores canadienses.
BetterLife Pharma (OTCQB: BETRF)는 정신과 및 신경 장애 치료제 BETR-001을 개발하는 바이오테크 기업으로, 주식 발행을 통한 상당한 부채 정리를 발표했습니다. 회사는 14,999,303 보통주를 발행하여 총 1,499,930 달러의 미지급금과 부채를 상환했습니다. 이 중 임원 및 이사들은 103만 달러의 부채를 10,308,039 주로 정리했습니다. 추가로 BetterLife는 250,000 주식 매수권 행사로 25,000 달러를 조달했습니다. 새로 발행된 주식은 캐나다 증권법에 따라 4개월간 매도 제한이 적용됩니다.
BetterLife Pharma (OTCQB : BETRF), une société biotechnologique développant BETR-001 pour les troubles psychiatriques et neurologiques, a annoncé des règlements importants de dettes par émission d’actions. La société a émis 14 999 303 actions ordinaires pour régler des comptes fournisseurs et montants dus totalisant 1 499 930 dollars. Parmi ceux-ci, les dirigeants et administrateurs ont réglé 1,03 million de dollars de dettes en échange de 10 308 039 actions. De plus, BetterLife a levé 25 000 dollars grâce à l’exercice de 250 000 bons de souscription d’actions. Les actions nouvellement émises seront soumises à une période de blocage de quatre mois conformément à la législation canadienne sur les valeurs mobilières.
BetterLife Pharma (OTCQB: BETRF), ein Biotechnologieunternehmen, das BETR-001 für psychiatrische und neurologische Erkrankungen entwickelt, hat bedeutende Schuldenregulierungen durch Aktienausgabe bekanntgegeben. Das Unternehmen gab 14.999.303 Stammaktien aus, um Verbindlichkeiten und fällige Beträge in Höhe von 1.499.930 US-Dollar zu begleichen. Davon beglichen Firmenleiter und Direktoren 1,03 Millionen US-Dollar Schulden gegen 10.308.039 Aktien. Zusätzlich sammelte BetterLife 25.000 US-Dollar durch die Ausübung von 250.000 Aktienkaufoptionen ein. Die neu ausgegebenen Aktien unterliegen gemäß kanadischem Wertpapierrecht einer viermonatigen Haltefrist.
- Debt reduction of $1.49 million improves company's balance sheet
- Management's willingness to convert debt to equity shows confidence in company
- Additional $25,000 raised through warrant exercise
- Significant share dilution with issuance of nearly 15 million new shares
- Large portion of debt settlement (69%) related to insider payments
VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) -- BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotech company focused on the development of BETR-001, a non-hallucinogenic neuroplastogen in the treatment of psychiatric and neurological disorders, announces that it has issued 14,999,303 common shares pursuant to the settlement of accounts payable and amounts due to directors and officers totaling
The Company also issued 250,000 common shares pursuant to the exercise of 250,000 share purchase warrants for gross proceeds of
About BetterLife Pharma
BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders.
BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic neuroplastogen in development and it is unique in that it is unregulated and therefore can be self-administered. BetterLife’s synthesis patent for BETR-001 eliminates regulatory hurdles and its pending patent, for composition and method of use, covers treatment of major depressive disorder, anxiety disorder and neuropathic pain and other neuro-psychiatric and neurological disorders.
BETR-002, which is in preclinical and IND-enabling studies, is based on honokiol, the active anxiolytic ingredient of magnolia bark. BetterLife’s pending method of use and formulations patent covers treatment of anxiety related disorders including benzodiazepine dependency.
BetterLife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development.
For further information, please visit BetterLife Pharma.
Contact
David Melles, Investor Relations Manager
Email: David.Melles@blifepharma.com
Phone: 1-778-887-1928
Cautionary Note Regarding Forward-Looking Statements
No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
FAQ
How much debt did BetterLife Pharma (BETRF) settle in May 2025?
How many shares did BetterLife Pharma (BETRF) issue to directors and officers for debt settlement?
What is the hold period for the newly issued BETRF shares?
How much did BetterLife Pharma raise through warrant exercise in May 2025?
