Lobe Sciences closes private placement raising $341,425 CAD

Lobe Sciences Ltd. (CSE:LOBE)(OTCQB: LOBEF)(FWB:LOBE.F) announced the completion of its non-brokered private placement offering, raising gross proceeds of $341,425 CAD through the sale of 8,535,625 common shares at $0.04 per share.

The biopharmaceutical company had previously announced the offering on July 29. Securities issued under the placement are subject to a statutory four-month and one-day hold period.

Lobe Sciences develops therapeutics for rare and underserved diseases through its subsidiaries Altemia, Inc. and majority-owned Cynaptec Pharmaceuticals, Inc. The company's pipeline includes a patented lipid-based delivery platform for treating Sickle Cell Disease and an oral analog of psilocin for Chronic Cluster Headache and related disorders.

The securities were not registered under the United States Securities Act of 1933 and cannot be offered or sold in the United States without registration or an applicable exemption.

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