Lobe Sciences Ltd. Announces Debt Settlement

Rhea-AI Summary

Lobe Sciences Ltd. (OTCQB:LOBEF), a biopharmaceutical company, has announced a debt settlement through a share issuance. The company has settled an outstanding debt of CAD$11,596.22 owed to Gibbsons P.C. for previous legal services by issuing 546,206 common shares at a deemed price of CAD$0.02123 per share.

The shares were issued on May 13, 2025, and are subject to regulatory hold periods under Canadian securities laws.

Positive

• Elimination of CAD$11,596.22 in debt obligations
• Preservation of cash through equity-based debt settlement

Negative

• Dilution of existing shareholders through issuance of 546,206 new shares
• Low share price of CAD$0.02123 indicates potential financial challenges

VANCOUVER, BC / ACCESS Newswire / July 16, 2025 / Lobe Sciences Ltd. (CSE:LOBE)(OTCQB:LOBEF)(FWB:LOBE.F), a biopharmaceutical company committed to developing innovative treatments for underserved diseases, today announced that it has settled an outstanding debt of CAD$11,596.22 owed to Gibbsons P.C. for legal services previously provided to the Company.

In satisfaction of this obligation, Lobe has issued 546,206 common shares of the Company to Gibbson Law P.C. at a deemed price of CAD$0.02123 per share. The shares were issued on May 13, 2025, and are subject to applicable regulatory hold periods under Canadian securities laws.

About Lobe Sciences - Lobe Sciences Ltd. (CSE:LOBE)(OTCQB:LOBEF)(FWB:LOBE.F) is a biopharmaceutical company focused on developing innovative therapies for rare and underserved conditions. Through its wholly owned subsidiary, Altemia, Inc., and its majority-owned subsidiary, Cynaptec Pharmaceuticals, Inc., Lobe is advancing a patented lipid-based platform for treating Sickle Cell Disease and a novel oral analog of psilocin-Conjugated Psilocin™-targeted at Chronic Cluster Headache and other neurological disorders. These programs address significant unmet medical needs with the potential to improve outcomes in both hematologic and neuropsychiatric patient populations.

For further information:

Dr. Fred D. Sancilio, CEO
Lobe Sciences Ltd.
Investor and Media
Info@Lobesciences.com
Phone: +1 (949) 505-5623

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 Company's intention to raise funds for clinical trials, the innovativeness of Conjugated Psilocin™. the anticipated focus and timing or efficiency of the Company's research and development activities; the potential for the Company's products to meet unmet medical needs, the anticipated use of proceeds from the offering, the intended development plans for Cynaptec™, the intention of Lobe Sciences to provide certain services to Cynaptec, the potential exercise of the option and intended use of proceeds therefrom and the potential ability to raise funds for clinical development 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: the Company's planned activities will be able to create shareholder value and address serious unmet medical needs; the Company will continue to pursue its planned research and development activities, and that the Company will be able to raise funds 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's planned activities will be unable to create shareholder value or address the targeted unmet medical needs; the Company is unable to obtain the desired results from its current research and development activities; and the Company is unable to raise funds or to do so on the timelines anticipated. 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.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS NEWS RELEASE.

SOURCE: Lobe Sciences Ltd.

View the original press release on ACCESS Newswire

FAQ

What is the debt settlement announced by Lobe Sciences (LOBEF) in July 2025?

Lobe Sciences settled a CAD$11,596.22 debt owed to Gibbsons P.C. by issuing 546,206 common shares at CAD$0.02123 per share.

How many shares did Lobe Sciences (LOBEF) issue for the debt settlement?

Lobe Sciences issued 546,206 common shares at a deemed price of CAD$0.02123 per share.

What was the price per share for LOBEF's debt settlement shares?

The shares were issued at a deemed price of CAD$0.02123 per share.

When were the debt settlement shares issued by Lobe Sciences (LOBEF)?

The debt settlement shares were issued on May 13, 2025, and are subject to regulatory hold periods under Canadian securities laws.