Lobe Sciences Ltd. Announces Closing of Non-Brokered Private Placement and Provides Corporate Update
Rhea-AI Summary
Lobe Sciences (OTCQB:LOBEF) closed a non-brokered private placement of 14,615,384 common shares at $0.065 per share for aggregate gross proceeds of approximately $950,000 on April 20, 2026.
Proceeds will fund working capital, advance the S-100 drug candidate for sickle cell disease, and provide capital to subsidiary Applied Lipid Technologies to support development toward human clinical trials; the company has procured required active pharmaceutical ingredient. Securities are subject to a four-month Canadian hold period and are not registered in the United States.
Positive
- Raised ~$950,000 via private placement
- Procured active pharmaceutical ingredient for S-100 studies
- Funds allocated to advance S-100 toward human clinical trials
Negative
- Issued 14.6M new shares, creating dilution for existing shareholders
- Four-month hold period limits immediate resale of new securities
- Securities not registered in U.S., restricting U.S. investor participation
News Market Reaction – LOBEF
On the day this news was published, LOBEF gained 9.43%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
VANCOUVER, BC / ACCESS Newswire / April 20, 2026 / Lobe Sciences Ltd. ("Lobe" or the "Company") (CSE:LOBE)(OTCQB:LOBEF)(Frankfurt:LOBE) is pleased to announce the closing of its previously announced non-brokered private placement offering of 14,615,384 common shares in the capital of the Company ("Common Shares") at a price of
The Company intends to use the proceeds of the Private Placement for working capital and general corporate purposes, and to advance its S-100 drug candidate for the treatment of sickle cell disease. A portion of the proceeds will be directed to its subsidiary, Applied Lipid Technologies, Inc., to support development of the S-100 program toward human clinical trials. The Company has procured the active pharmaceutical ingredient required for these studies, enabling the program to move forward.
All securities issued in connection with the Private Placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
None of the securities sold under the Private Placement have been or will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS NEWS RELEASE.
About Lobe Sciences Ltd. (CSE:LOBE)(OTCQB:LOBEF)(Frankfurt:LOBE)
Lobe Sciences Ltd. is a biopharmaceutical company advancing programs in diseases with unmet medical needs. The Company is pursuing strategic development through its subsidiaries, including a majority interest in Cynaptec Pharmaceuticals, Inc. and wholly owned subsidiary Applied Lipid Technologies Inc. (Formerly Altemia, Inc.).
About Cynaptec Pharmaceuticals, Inc.
Cynaptec is a biopharmaceutical company dedicated to developing innovative therapies for neurological and psychiatric disorders. Cynaptec's initial development program is focused on the use of its proprietary L-130 (psilocin mucate) compound for treatment of the significant unmet medical needs of patients with Chronic Cluster Headache, with an additional preliminary proof-of-concept to assess potential utility for substance use disorders. Cynaptec is
About L-130 (psilocin mucate)
L-130 is a novel, patented, oral, stable analog of psilocin, the active metabolite of the prodrug psilocybin, designed to enhance bioavailability and therapeutic efficacy, which has been identified as having therapeutic potential in a variety of neurological conditions. Whereas conventional psilocin is an unstable compound that has been challenging for the industry to develop as a standalone pharmaceutical, L-130's stability and bioavailability profile, and associated safety and efficacy signals, suggest the potential for prescription drug development in a variety of neurological and psychiatric indications.
For Further Information
Dr. Frederick D. Sancilio
Chief Executive Officer
Lobe Sciences Ltd.
Email: info@lobesciences.com
Phone: +1 (949) 505-5623
Website: www.lobesciences.com
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation: the anticipated use of proceeds of the Private Placement and the Company's ability to obtain final Exchange approval in connection with the Private Placement are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" or occur.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that: that the Company will be able to use the proceeds of the Private Placement as anticipated and that final Exchange approval for the Private Placement will be obtained, among others. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that: the Company is unable to use the proceeds of the Private Placement as anticipated and that the Company is unable to obtain final Exchange approval in connection with the Private Placement.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
SOURCE: Lobe Sciences Ltd.
View the original press release on ACCESS Newswire