<SEC-DOCUMENT>0001628280-21-023273.txt : 20211115
<SEC-HEADER>0001628280-21-023273.hdr.sgml : 20211115
<ACCEPTANCE-DATETIME>20211115073052
ACCESSION NUMBER:		0001628280-21-023273
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20211115
FILED AS OF DATE:		20211115
DATE AS OF CHANGE:		20211115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CYBIN INC.
		CENTRAL INDEX KEY:			0001833141
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40673
		FILM NUMBER:		211406336

	BUSINESS ADDRESS:	
		STREET 1:		100 KING STREET WEST
		STREET 2:		SUITE 5600
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5X 1C9
		BUSINESS PHONE:		(908) 764-8385

	MAIL ADDRESS:	
		STREET 1:		100 KING STREET WEST
		STREET 2:		SUITE 5600
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5X 1C9
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>cybininc-form6xk1112workiv.htm
<DESCRIPTION>6-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="ie25a1bdb79a447c09f2f7ee3c89716cc_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="-sec-extract:summary;margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Washington, D.C. 20549</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Form 6-K</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16<br>UNDER THE SECURITIES EXCHANGE ACT OF 1934</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br></font></div><div style="margin-bottom:5pt;margin-top:5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">For the month of November, 2021.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Commission File Number&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">001-40673</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%"><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:115%;text-decoration:underline">Cybin Inc.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%"><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">(Exact Name of Registrant as Specified in Charter)<br><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9 </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">(Address of principal executive offices) </font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Form 20-F  </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:400;line-height:115%">&#9633;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">  Form 40-F &#8864;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)&#58; ____</font></div><div><font><br></font></div><div style="margin-bottom:11.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#58; Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders. </font></div><div style="margin-bottom:11.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)&#58; ____ </font></div><div style="margin-bottom:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Note</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#58; Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#8217;s &#8220;home country&#8221;), or under the rules of the home country exchange on which the registrant&#8217;s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#8217;s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR. </font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">INCORPORATION BY REFERENCE</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Exhibits 99.1 - 99.2 of this Form 6-K of Cybin Inc. (the &#34;Company&#34;) are hereby incorporated by reference into the Registration Statement on Form F-10 (File No. 333-259994) of the Company, as amended or supplemented.</font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">SIGNATURE</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.<br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.038%"><tr><td style="width:1.0%"></td><td style="width:5.048%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:43.398%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.696%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.851%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.507%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">CYBIN INC.</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">(Registrant)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Date&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">November 15, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">&#47;s&#47; Doug Drysdale&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Name&#58;</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Doug Drysdale</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Title&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Chief Executive Officer</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%;text-decoration:underline">EXHIBIT INDEX</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:8.980%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:88.820%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">99.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="cybinincfs-q2x22xsept30202.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Interim Consolidated Financial Statements for the three and six months ended September 30, 2021</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">99.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="cybin-mdaq2xseptember30202.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Management&#8217;s Discussion and Analysis for the three and six months ended September 30, 2021</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">99.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="q22021-cfocertificatecybin.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Certification of Interim Filings by CFO dated November 15, 2021</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">99.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="q22021-ceocertificatecybin.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Certification of Interim Filings by CEO dated November 15, 2021</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">99.5</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="pressreleasereq2financialr.htm" style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">News Release dated November 15, 2021</a></font></div></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>cybinincfs-q2x22xsept30202.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="iffdd083cdab34b4781a00bdf84c3820a_1"></div><div style="min-height:126pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:10pt;text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><img alt="capturea.jpg" src="capturea.jpg" style="height:129px;margin-bottom:5pt;vertical-align:text-bottom;width:200px"></div><div style="text-align:center"><font><br></font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:24pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:120%"> CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS </font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:120%">FOR THE THREE AND SIX MONTHS ENDED</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:120%">SEPTEMBER 30, 2021</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:120%">(UNAUDITED)</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_4"></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><font><br></font></div></div><div style="margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">TO OUR SHAREHOLDERS</font></div><div style="margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">The accompanying unaudited condensed interim consolidated financial statements of Cybin Inc. (&#34;Cybin&#34;) have been prepared by and are the responsibility of Cybin's management in accordance with International Accounting Standards (&#8220;IAS&#8221;) 34, Interim Financial Reporting as issued by the International Accounting Standards Board (&#34;IASB''). These unaudited condensed interim consolidated financial statements do not include all the information and notes required by International Financial Reporting Standards (&#34;IFRS'') for annual financial statements and should be read in conjunction with Cybin&#8217;s annual financial statements and notes for the year ended March&#160;31, 2021, which are available on SEDAR at </font><font style="color:#0000e1;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:120%">.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_7"></div><hr style="page-break-after:always"><div style="min-height:108pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars)</font></div></td></tr></table></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:56.111%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.393%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.047%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.049%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">As at</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Notes</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">September 30, 2021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31, 2021</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">ASSETS</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">3</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,179</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">64,026</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accounts receivable</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,281</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,329</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Prepaid expenses</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,992</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,129</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3pt;font-weight:400;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Current Assets</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">79,452</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">66,484&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">4</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">250</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Equipment </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">5</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">552</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">557</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Intangible assets </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">6</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,870</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,701</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">23,341</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,370</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3pt;font-weight:400;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">26,013</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">25,628</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL ASSETS</font></td><td colspan="3" style="background-color:#d9d9d9;padding:0 1pt"></td><td colspan="2" style="background-color:#d9d9d9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">105,465</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#d9d9d9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#d9d9d9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,112&#160;</font></td><td style="background-color:#d9d9d9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">LIABILITIES</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accounts payable and accrued liabilities</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,629</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,793</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current portion of contingent consideration payable </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">7</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,079</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,107</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3pt;font-weight:700;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Current Liabilities</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,708</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,900&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contingent consideration payable</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">7</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">363</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,094</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3pt;font-weight:700;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">363</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,094&#160;</font></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL LIABILITIES</font></td><td colspan="3" style="background-color:#d9d9d9;padding:0 1pt"></td><td colspan="2" style="background-color:#d9d9d9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,071</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#d9d9d9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#d9d9d9;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,994&#160;</font></td><td style="background-color:#d9d9d9;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">SHAREHOLDERS' EQUITY</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Share capital </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">8</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">136,020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,676</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contributed surplus</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">124</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">124</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Options reserve </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">8</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">17,060</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,158</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Warrants reserve </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">8</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,697</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,166</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accumulated other comprehensive (loss) income</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(153)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:27pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Deficit</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(65,354)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(33,030)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:3pt;font-weight:400;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL SHAREHOLDERS' EQUITY</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">99,394</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">86,118&#160;</font></td><td style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#d9d9d9;border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">105,465</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#d9d9d9;border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#d9d9d9;border-bottom:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,112&#160;</font></td><td style="background-color:#d9d9d9;border-bottom:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Corporate information and continuance of operations (note 1)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Commitments (note 11)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Subsequent events (note 15)</font></div><div style="margin-top:7pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">The accompanying notes are an integral part of these  condensed interim consolidated financial statements</font></div><div style="margin-top:7pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidation financial statements were approved for issue on November&#160;12, 2021 by the board of directors and signed on its behalf by&#58;</font></div><div style="margin-top:7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#47;s&#47;Paul Glavine</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;  </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">&#47;s&#47; Eric So</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Director</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_10"></div><hr style="page-break-after:always"><div style="min-height:108pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts)</font></div></td></tr></table></div></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.996%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.323%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.323%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.324%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three months ended September 30,</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Six months ended <br>September 30,</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">Notes</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">REVENUE</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">864</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">COST OF GOODS SOLD</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">664</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">GROSS PROFIT</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">200</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">EXPENSES</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:8.99pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Share-based compensation </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">8,9</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,457</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">786</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">10,230</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,274</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:8.99pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">General and administrative costs </font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">10</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">7,831</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,340</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">14,021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,567</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:8.99pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Research</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,818</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">435</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,794</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,140</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL EXPENSES</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">17,106</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,561</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">31,045</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,981</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">OTHER INCOME (EXPENSES)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest income</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">51</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">95</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accretion on convertible debt</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;Foreign currency translation gain (loss)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">155</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(99)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">106</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(232)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;Contingent consideration accretion</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">7</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(70)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(231)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:13.5pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Change in fair value of contingent consideration</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">7</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(637)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,249)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL OTHER EXPENSES</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(501)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(99)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,279)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(242)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">NET LOSS FOR THE PERIOD</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(17,607)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,660)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(32,324)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,023)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">OTHER COMPREHENSIVE LOSS</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:9pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Foreign currency translation differences for foreign operations</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">515</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(177)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">COMPREHENSIVE LOSS FOR THE PERIOD</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(17,092)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,660)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(32,501)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,023)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Basic loss per share for the period attributable to common shareholders</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(0.11)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.04)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(0.20)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.10)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted average number of common shares outstanding - basic</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">165,783,294</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">69,150,254</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">161,750,053</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">69,150,254</font></td></tr></table></div><div style="margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">The accompanying notes are an integral part of these condensed interim consolidated financial statements</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_13"></div><hr style="page-break-after:always"><div style="min-height:108pt;width:100%"><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS&#8217; EQUITY</font></div><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">FOR THE SIX MONTHS ENDED SEPTEMBER&#160;30, 2021 AND SEPTEMBER&#160;30, 2020 </font></div><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share amounts)</font></div></td></tr></table></div></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.339%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.349%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.043%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.356%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Share capital</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="12" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Reserves</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Note</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Number of shares</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Amount</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Warrants</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Options</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Equity component of convertible debt</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Contributed Surplus</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Deficit</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Accumulated other comprehensive income (loss)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">#</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">$</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.25pt solid #000000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at March 31, 2020</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">56,503,570</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,187</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">64</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(810)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,448</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shares issued for cash net of share issuance costs &#8211;  private placement</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,246,666</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,196</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,196</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reversal of share subscriptions</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,799,985)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(700)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(700)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Issuance of convertible debt</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shares issued on conversion of debt</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,200,000</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">310</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">295</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Founders' round additional capital</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">164</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finders' warrants</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(89)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,855</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">419</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,274</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss and comprehensive loss for the period</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,023)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,023)</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at September 30, 2020</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">69,150,251</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">9,068</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,951</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">483</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(7,833)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,669</font></td></tr><tr style="height:8pt"><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at March 31, 2021</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">157,454,415</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">100,676</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,166</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,158</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">124</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(33,030)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">24</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">86,118</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Bought deal share offering - net of share issuance costs</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,147,600</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,508</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,508</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shares issued on Adelia milestones</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;7, 8</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">439,583</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,237</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,237</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Warrants exercised</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,930,176</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,538</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(946)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,592</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Options exercised</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">450,000</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">360</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(150)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">210</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finders' warrants</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,299)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,299</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share-based compensation</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;8, 9</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">178</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,052</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,230</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss for the period</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32,324)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(32,324)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Unrealized loss on translation of foreign operations</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(177)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(177)</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Balance at September 30, 2021</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170,421,774</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">136,020</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,697</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">17,060</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">124</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(65,354)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(153)</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">99,394</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_16"></div><hr style="page-break-after:always"><div style="min-height:108pt;width:100%"><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars)</font></div></td></tr></table></div></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:49.060%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.150%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.799%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three months ended September 30,</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Six months ended September 30,</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">OPERATING ACTIVITIES</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 3.77pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 3.77pt 0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net loss for the period</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(17,607)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,660)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(32,324)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,023)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjustments for items not affecting cash&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 3.77pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 3.77pt 0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">5</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">42</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">80</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Share-based compensation</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,457</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">786</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">10,230</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,274</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accretion of convertible debt</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Contingent consideration accretion</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">7</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">70</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">231</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Change in fair value of contingent consideration</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">7</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">637</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,249</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unrealized foreign currency translation loss (gain)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(190)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(159)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(11,591)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,872)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(20,693)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,735)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net changes in non-cash working capital items&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accounts receivable</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(606)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(158)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(952)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(527)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Prepaid expenses</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,172)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(863)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(103)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Inventory</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(460)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accounts payable and accrued liabilities</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(423)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(431)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(164)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">857</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net cash flows used in operating activities</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(13,792)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,364)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(22,672)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,968)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">INVESTING ACTIVITIES</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 21.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Issuance of note receivable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(670)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(670)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 21.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Purchase of investment</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(250)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 21.02pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Purchase of intangible assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(67)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(163)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Purchase of equipment</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(21)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(70)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net cash flows used in investing activities</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(88)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(670)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(483)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(670)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">FINANCING ACTIVITIES</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Proceeds from issuance of common shares, net</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">31,508</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(797)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">31,508</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,497</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Issuance of convertible debt</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">300</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additional capital on founders&#8217; round</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">164</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Shares issued for cash - warrant exercise</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,393</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,592</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Shares issued for cash - options exercise</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">80</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">210</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net cash flows from financing activities</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">33,981</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(797)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">34,310</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,961</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Effects of exchange rate changes on cash</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(2)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #6d6d6d;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Change in cash</font></td><td colspan="3" style="background-color:#d9d9d9;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">20,104</font></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,831)</font></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,153</font></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,323</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash and cash equivalents, beginning of period</font></td><td colspan="3" style="background-color:#d9d9d9;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">55,075</font></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,699</font></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">64,026</font></td><td colspan="3" style="background-color:#d9d9d9;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,545</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash and cash equivalents, end of period</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:1pt solid #6d6d6d;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,179</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:1pt solid #6d6d6d;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,868</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:1pt solid #6d6d6d;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,179</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-top:1pt solid #6d6d6d;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,868</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_19"></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div><font><br></font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_22"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.&#160;&#160;&#160;&#160;CORPORATE INFORMATION AND CONTINUANCE OF OPERATIONS</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cybin Inc. (&#8220;Cybin&#8221;), was incorporated under the Business Corporations Act (British Columbia) on October 13, 2016. These condensed interim consolidated financial statements include the accounts of Cybin&#8217;s six subsidiaries (together, with Cybin, the &#8220;Company&#8221;)&#58; Cybin Corp., Natures Journey Inc. (&#8220;Journey&#8221;), Serenity Life Sciences Inc. (&#8220;Serenity&#8221;), Cybin US Holdings Inc. (&#8220;Cybin US&#8221;), Adelia Therapeutics Inc. (&#8220;Adelia&#8221;) and Cybin IRL Limited.  Cybin&#8217;s head office, principal address and registered address and records office is 100 King Street West, Suite 5600, Toronto, Ontario M5X 1C9. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cybin carries on business through its wholly owned subsidiary Cybin Corp., which was incorporated under the Business Corporations Act (Ontario) on October 22, 2019. The Company is a biotechnology company focused on progressing psychedelic therapeutics. The Company is structuring and supporting clinical studies in North America and other regions, through strategic academic and institutional partnerships and plans to launch psilocybin-based products in jurisdictions where the substance is not banned.  </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements as at, and for the three and six months ended, September&#160;30, 2021 were approved and authorized for issue by the board of directors on November&#160;12, 2021. </font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">COVID 19-</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the outbreak of the novel strain of corona virus, specifically identified as &#8220;COVID-19&#8221;, resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company in future periods. </font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Reverse takeover-</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 5, 2020, Cybin (formerly Clarmin Explorations Inc.) completed a reverse takeover transaction pursuant to the terms of an amalgamation agreement dated June 26, 2020, as amended on October 21, 2020, among Cybin, Cybin Corp. and 2762898 Ontario Inc. (&#8220;SubCo&#8221;), a wholly-owned subsidiary of Cybin (the &#8220;Reverse Takeover&#8221;). The Reverse Takeover was completed by way of a &#8220;three-cornered&#8221; amalgamation pursuant to the provisions of the Business Corporations Act (Ontario) whereby Cybin Corp. amalgamated with SubCo to form an amalgamated corporation and a wholly owned subsidiary of Cybin.  Effective November 5, 2020, Cybin completed a consolidation of its common shares on the basis of 6.672 old common shares into one new common share of Cybin (each, a &#8220;Common Share&#8221;). All shares and per share amounts have been restated to reflect the share consolidation retrospectively. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 7 of 24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with IFRS 3, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the substance of the reverse takeover is a takeover of a non-operating company. The Reverse Takeover does not constitute a business combination as Clarmin Explorations Inc. did not meet the definition of a business under IFRS 3. As a result, the transaction has been accounted for as a capital transaction with Cybin Corp. being identified as the acquirer and the equity consideration being measured at fair value. The resulting consolidated financial statements are presented as a continuation of Cybin Corp. and comparative figures presented in the condensed interim consolidated financial statements are those of Cybin Corp.</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Stock exchange listing &#8211; </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 10, 2020, the Common Shares became listed for trading on the Neo Exchange Inc. under the trading symbol &#8220;CYBN&#8221;. On March 8, 2021, the Company&#8217;s Common Shares commenced trading on the OTCQB&#174; Venture Market under the symbol &#8220;CLXPF&#8221;. On August 5, 2021, the Company&#8217;s Common Shares commenced trading on the NYSE American LLC under the symbol &#8220;CYBN&#8221; and concurrently ceased trading on the OTCQB&#174; Venture Market under the symbol &#8220;CLXPF&#8221; (see note 15).</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Acquisition &#8211; </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 14, 2020, the Company completed its acquisition of Adelia by issuing Class B common shares of Cybin US (&#8220;Class B Shares&#8221;) that are exchangeable into Common Shares (the &#8220;Adelia Transaction&#8221;) (see note 8(b)). The Class B Shares were issued in place of Common Shares to permit the deferral of US tax by the former shareholders of Adelia. These condensed interim consolidated financial statements reflect the Class B Shares as if they have already been exchanged for Common Shares. </font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_25"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2.&#160;&#160;&#160;&#160;SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PREPARATION</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Statement of compliance </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements for the three and six months ended September&#160;30, 2021 have been prepared in accordance with International Accounting Standard 34 &#8220;Interim Financial Reporting&#8221;. Accordingly, certain information and footnote disclosure normally included in annual financial statements prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) have been omitted or condensed. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting policies adopted in the preparation of the condensed interim consolidated financial statements are consistent with those set out in note 2 &#8220;Significant accounting policies and basis of preparation&#8221; of the Company&#8217;s annual consolidated financial statements for the year ended March 31, 2021. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended March&#160;31, 2021. </font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Basis of measurement</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements have been prepared on a going concern basis, under the historical cost convention, except for certain financial instruments classified at fair value upon initial recognition.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 8 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Functional and presentation currency</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The functional currency of a company is the currency of the primary economic environment in which the company operates. The presentation currency for a company is the currency in which the company chooses to present its financial statements.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements are presented in Canadian dollars, the Company&#8217;s presentation currency. The Company&#8217;s and its subsidiaries functional currencies are as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.153%"><tr><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.234%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Entity</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Currency</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Ownership</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cybin Corp.</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Canadian dollars</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Journey</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Canadian dollars</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Serenity</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Canadian dollars</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cybin US</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Canadian dollars</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100%</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Adelia</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">U.S. dollars</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">100%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cybin IRL Limited</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">U.S. dollars</font></td><td colspan="3" style="padding:2px 1pt 2px 3.75pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">100%</font></td></tr></table></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> For accounting purposes, Cybin US is a wholly-owned subsidiary of Cybin. Certain former shareholders of Adelia hold Class B Shares in Cybin US.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Significant accounting policies</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These condensed interim consolidated financial statements have been prepared using the same accounting policies and methods as those used in the Company&#8217;s annual consolidated financial statements for the year ended March&#160;31, 2021. </font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">Use of significant estimates and assumptions</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with IAS 34 requires the use of certain significant estimates and assumptions. It also requires management to exercise judgment when applying the Company&#8217;s accounting policies. The critical accounting estimates and judgments have been set out in note 3 of the Company&#8217;s annual consolidated financial statements for the year ended March&#160;31, 2021. </font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;text-decoration:underline">New standards and interpretations not yet adopted</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A number of new standards, amendments to standards and interpretations are not yet effective at <br>September&#160;30, 2021, and have not been applied in preparing these condensed interim consolidated financial statements. Management has determined that none of these will have a significant effect on these condensed interim consolidated financial statements of the Company.</font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_28"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.&#160;&#160;&#160;&#160;CASH AND CASH EQUIVALENTS</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.314%"><tr><td style="width:1.0%"></td><td style="width:56.637%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.031%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.032%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash in bank</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">40,179</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,026</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Redeemable GICs earning interest at a rate of 0.40% per annum maturing on May 12, 2022</font></div></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">35,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">75,179</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,026</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 9 of 25</font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_31"></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.&#160;&#160;&#160;&#160;INVESTMENTS</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 8, 2021, the Company entered into a subscription agreement with RxLive Limited (&#8220;RxLive&#8221;) whereby the Company purchased $250 of 10.0% unsecured convertible redeemable debentures (the &#8220;Rx Debentures&#8221;). RxLive is a UK-based online platform that connects pharmacists and patients through a secure app that allows for pharmacist consultations, initial or renewal prescription fulfilment and delivery of prescription medication. The Rx Debentures mature and become due on June 8, 2022. The Rx Debentures are exchangeable or convertible into units at a price of equal to 80% of the offering price of any equity financing completed by 1301376 B.C. Ltd. (&#8220;Finco&#8221;) concurrent with a go public transaction. Each unit is to consist of one common share of Finco (a &#8220;Finco Share&#8221;) and one Finco Share purchase warrant, with each warrant being exercisable to acquire one Finco Share at a price equal to 125% of the conversion price (the &#8220;Rx Conversion Feature&#8221;). As a result of the transaction, the Company recorded a hybrid financial instrument representing the Rx Debentures and the Rx Conversion Feature (the &#8220;Rx Hybrid Instrument&#8221;).  The fair value of the Rx Hybrid Instrument was $250 determined by the sum of the fair values of the Rx Debenture and Rx Conversion Feature derived respectively using the discounted cash flow approach and the Black-Scholes model. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Concurrent with the purchase of the Rx Debentures, the Company entered into a side letter to be the exclusive partner for RxLive&#8217;s products and services in the psychedelics space. In addition, Cybin has agreed to participate in a private placement of subscription receipts of Finco in an amount of up to $500 and also has a right of first refusal to purchase any new securities of RxLive until the completion of certain events described in the side letter (together, the &#8220;RxLive Derivatives&#8221;).</font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_34"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">5.&#160;&#160;&#160;&#160;EQUIPMENT</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Equipment consists as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.794%"><tr><td style="width:1.0%"></td><td style="width:37.972%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.085%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.955%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Lab Equipment</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Computer Equipment</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance as at March 31, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">470</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">141</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">611</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">70</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect of foreign exchange</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance as at September 30, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">485</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">203</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">688</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Accumulated Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance as at March 31, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">39</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">15</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">54</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation charge</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">80</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect of foreign exchange</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance as at September 30, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">91</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">45</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">136</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net book value as at March 31, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">431</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">126</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">557</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net book value as at September 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">394</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">158</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">552</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 10 of 25</font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_37"></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">6.&#160;&#160;&#160;&#160;INTANGIBLE ASSETS</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.153%"><tr><td style="width:1.0%"></td><td style="width:45.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.733%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.733%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.734%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Patents</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Software</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Balance as at March 31, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,701</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,701</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additions</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">110</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">163</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Effect of foreign exchange</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance as at September 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,817</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">53</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,870</font></td></tr></table></div><div id="iffdd083cdab34b4781a00bdf84c3820a_40"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">7.&#160;&#160;&#160;&#160;CONTINGENT LIABILITIES</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Former Adelia shareholders &#8211; </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has commitments to the former shareholders of Adelia (the &#8220;Former Adelia Shareholders&#8221;) based on milestone achievements. Milestone payments are earned and paid quarterly over the next two years. The discounted fair value of these payments are as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:82.205%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.595%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,079</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2023</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">363</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance as at September 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,442</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the change in the carrying value of the contingent consideration during the year. </font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:33.123%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.677%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">$000&#8217;s</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Balance as at March 31, 2021</font></div></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">3,201&#160;</font></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Milestone achieved</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,239)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Change in fair value</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,249&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Accretion expense</font></div></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">231&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Balance as at September 30, 2021</font></div></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">3,442</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of changes in fair value of the contingent liabilities, during the three and six months ended September&#160;30, 2021, the Company recorded an expense of $637 and $1,249, respectively, in the statement of loss as &#8220;Change in fair value of contingent consideration&#8221;. In addition, during the three and six-month periods ended September&#160;30, 2021, the Company recorded an accretion expense of $70 and $231, respectively, in the statement of loss as &#8220;Contingent liability accretion&#8221;.</font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_43"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">8.&#160;&#160;&#160;&#160;SHARE CAPITAL</font></div><div style="margin-top:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">a)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.96pt;text-decoration:underline">Authorized share capital</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unlimited number of Common Shares and an unlimited number of preferred shares without par value. The board of directors of Cybin would determine the designation, rights, privileges, and conditions attached to any preferred shares prior to issuance.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 11 of 24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.53pt;text-decoration:underline">Issued share capital</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Common Shares</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 3, 2021, Cybin completed a public offering of 10,147,600 Common Shares at a price of $3.40 per Common Share for gross proceeds of $34,502.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the public offering, Cybin paid the underwriters a cash commission of $2,240 and issued 658,860 compensation warrants of Cybin, with each compensation warrant being exercisable to acquire one Common Share at a price of $3.40 for a period of 24 months. In addition, the Company incurred additional share issuance costs related to professional fees of $754.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company has 25,091,534 Common Shares held in escrow (March&#160;31, 2021 - 37,637,300).</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cybin US Class B Shares</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June&#160;24, 2021 Adelia completed the remaining requirements of the second milestone. Accordingly, 15,777.10 Class B Shares were issued to the Former Adelia Shareholders, amounting to $458. These Class B Shares are exchangeable for a total of 157,771 Common Shares, representing an effective issue price of $2.90 per Common Share. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 17, 2021, an additional 18,788.6 Class B Shares were issues to the Former Adelia Shareholders due to the  achievement of certain requirements of the third and fourth milestones, amounting to $633. These Class B Shares are exchangeable for a total of 187,886 Common Shares, representing an effective issue price of $3.37 per Common Share. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 31, 2021, the remaining requirements of the third milestone were achieved. Accordingly, 9,392.6 Class B Shares were issued to the Former Adelia Shareholders, amounting to $317. These Class B Shares are exchangeable for a total of 93,926 Common Shares, representing an effective issue price of $3.38 per Common Share. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, 1,006,201.6 Class B Shares were outstanding, which are exchangeable for a total of 10,062,016 Common Shares. No Class B Shares are exchangeable prior to December 14, 2021, and not more than&#58; (i) 33 1&#47;3% of the Class B Shares are to be exchangeable prior to December 14, 2022&#59; (ii) 66 2&#47;3% of the Class B Shares are to be exchangeable prior to December 14, 2023&#59; and (iii) thereafter, 100% of the Class B Shares are to be exchangeable.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 12 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">c)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:10.71pt;text-decoration:underline">Warrants</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The continuity of the outstanding warrants is as follows&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.474%"><tr><td style="width:1.0%"></td><td style="width:63.351%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.674%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.675%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of Warrants</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average exercise price</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As at April 1, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,564,977</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.15</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Issued</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">658,860&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.40&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercised</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,930,176)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.34</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Outstanding as at September 30, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">28,293,661</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.19</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exercisable as at September 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">26,293,661</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.26</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and six months ended September&#160;30, 2021, 1,674,145 and 1,930,176 warrants were exercised by various holders for aggregate proceeds to the Company of $2,393 and $2,592 respectively.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summarizes information about warrants outstanding at September&#160;30, 2021&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.596%"><tr><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.190%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Warrants issued</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Warrants outstanding</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Warrants exercisable</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average of exercisable price</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Estimated grant date fair value</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average remaining of outstanding contractual life</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Expiry date</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Years</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Feb 28, 2022</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">60,000</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,500</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,500</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.41</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jun 15, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,018,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,018,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,018,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">190</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.71</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jun 16, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">96,034</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,585</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,585</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.64</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.71</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jun 26, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">199,275</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,638</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,638</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.64</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.74</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Oct 19, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">143,600</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">113,713</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">113,713</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.75</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.05</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Nov 03, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,590,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,105,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,105,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.75</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">376</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.09</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aug 03, 2023</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">658,860</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">658,860</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">658,860</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.40</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,229</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.84</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Feb 01, 2024</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,623,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,146,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7,146,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,454</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.34</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Feb 04, 2024</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">868,740</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">868,740</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">868,740</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">970</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.35</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Jun 15, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,725,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,350,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,950,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,590</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.71</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aug 20, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,000,125</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,900,125</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,300,125</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.64</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">808</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.89</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">30,982,634</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">28,293,661</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">26,293,661</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.26</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,697</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2.95</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:5.85pt;font-style:italic;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%"> Represents 868,740 units of the Company at an exercise price of $2.25 per unit, with each unit consisting of one Common Share and one half of one Common Share purchase warrant, with each Common Share purchase warrant being exercisable to acquire one Common Share at an exercise price of $3.25 per Common Share.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company has 6,250,063 warrants held in escrow (March&#160;31, 2021 - 9,375,094).</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 13 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognized share-based payments expense related to the issuance of warrants for the three and six months ended September&#160;30, 2021 of $73 and $178 respectively. </font></div><div style="margin-top:10pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">d)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:9.53pt;text-decoration:underline">Stock options</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November&#160;5, 2020, Cybin adopted a new equity incentive plan. Under the Company&#8217;s equity incentive plan, the board of directors may grant share-based awards to acquire such number of Common Shares as is equal to up to 20% of the total number of issued and outstanding Common Shares at the time such awards are granted. Options granted under the plan vest over a period of time at the discretion of the board of directors. On August 16, 2021, the board of directors and the shareholders approved an amendment to the equity incentive plan to modify certain provisions for awards granted to residents of the United States, to increase the fixed number of Incentive Stock Options (as defined in the equity incentive plan) and certain other housekeeping amendments.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes in options during the six-months ended September 30, 2021 are as follows&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:63.173%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.763%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.764%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of Options</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average exercise price</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As at April 1, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,032,452</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.01</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Granted</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,319,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.89</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercised</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(450,000)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.47</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Forfeited</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(193,750)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.15</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Outstanding as at September 30, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">27,707,702</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.45</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exercisable as at September 30, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,736,998</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.11</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June&#160;28, 2021, the Company granted 3,259,000 options to purchase up to&#58; 1,975,000 Common Shares to executive officers, 1,090,000 Common Shares to employees, and 194,000 Common Shares to consultants, with an exercise price of $2.90 per Common Share and vesting over a 24-month period expiring June 28, 2026. On the same date, the Company granted 550,000 options to purchase 550,000 Common Shares to consultants with an exercise price of $2.90 per Common Share and vesting over a 12-month period expiring June 28, 2026.  In addition, the Company granted 25,000 options to purchase 25,000 Common Shares to a consultant that vested immediately with an exercise price of $2.90 per Common Share expiring June 28, 2026.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated grant date fair value of the 3,834,000 options granted on June&#160;28, 2021 was determined to be $7,994, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.98%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.90</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.90</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 14 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 16, 2021, the Company granted 215,000 options to purchase up to&#58; 165,000 Common Shares to employees, and 50,000 Common Shares to consultants, with an exercise price of $2.48 per Common Share and vesting over a 24-month period expiring August 16, 2026. The estimated grant date fair value of the 215,000 options was determined to be $383, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.81%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.48</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.48</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 18, 2021, the Company granted 300,000 options to purchase up to 300,000 Common Shares to an executive officer with an exercise price of $2.48 per Common Share and vesting over a 24-month period expiring August 18,  2026. The estimated grant date fair value was determined to be $519, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.82%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.42</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.48</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 27, 2021, the Company granted 585,000 options to purchase up to 585,000 Common Shares to employees with an exercise price of $3.15 per Common Share and vesting over a 24-month period expiring September 27, 2026. The estimated grant date fair value was determined to be $1,186, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.06%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.87</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.15</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 27, 2021, the Company granted 195,000 options to purchase up to 195,000 Common Shares to a director with an exercise price of $2.87 per Common Share and vesting over a 24-month period expiring September 27, 2026. The estimated grant date fair value was determined to be $403, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 15 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.06%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.87</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.87</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 30, 2021, the Company granted 450,000 options to purchase up to 450,000 Common Shares to employees with an exercise price of $3.15 per Common Share and vesting over a 24-month period expiring September 30, 2026. The estimated grant date fair value was determined to be $878, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.11%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">95.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.15</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 30, 2021, the Company granted 40,000 options to purchase up to 40,000 Common Shares to a consultant with an exercise price of $2.78 per Common Share and vesting over a 12-month period expiring June 30, 2023. The estimated grant date fair value was determined to be $48, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.53%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">85.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.75</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 30, 2021, the Company granted 700,000 options to purchase up to 700,000 Common Shares to consultants with an exercise price of $2.78 per Common Share and vesting over a 12-month period expiring December 31, 2022. The estimated grant date fair value was determined to be $715, calculated using the Black-Scholes option pricing model with the following assumptions&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.634%"><tr><td style="width:1.0%"></td><td style="width:81.155%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.645%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Risk-free interest rate</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.41%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected annual volatility, based on comparable companies</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">85.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected life (in years)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.25</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected dividend yield</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.00%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share price</font></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Exercise price</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 3.77pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 16 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the six months ended September&#160;30, 2021, the Company amended the vesting and expiry dates of certain options with former employees of the Company, resulting in a modification of terms.  As a result of the modifications, the Company calculated the incremental fair value using the Black-Scholes option pricing model. The fair value of the options after modification was determined to be less than the fair value prior to modification and therefore the original fair value of the grant was used and is being recognized over the new vesting schedule.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and six months ended September&#160;30, 2021, 125,000 and 450,000 options were exercised by various holders for aggregate proceeds to the Company of $80 and $210 respectively.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following summarizes information about stock options outstanding on September&#160;30, 2021&#58;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 17 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:18.771%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.929%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exercise Price</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of options outstanding</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Number of options exercisable</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Weighted average remaining life</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Recognized estimated grant date fair value</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Expiry date</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Years</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 15, 2022</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.64</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62,500</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.29</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">April 15, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.64</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.54</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">August 12, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.90</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,250</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,250</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.87</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 27, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.91</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">200,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">200,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.16</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 11, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.67</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59,952</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59,952</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.20</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">700,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">191,666</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">196</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">June 30, 2023</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.78</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.75</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 27, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">325,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">325,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.41</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">59</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">June 15, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,350,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,737,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.71</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">398</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">October 12, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.75</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,000,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,500,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.04</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,329</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 4, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.75</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,000,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,000,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.10</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,696</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">November 13, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.88</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">500,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">250,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.12</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">262</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 11, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.48</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">700,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">262,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.20</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">541</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 14, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.74</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,264,100</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,129,547</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.21</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,250</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 28, 2025</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.89</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">760,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">380,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.25</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">808</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">January 2, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.89</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">225,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">84,375</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.26</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">238</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 15, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.03</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">170,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,375</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.38</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">158</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">February 16, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.03</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">150,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56,250</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.38</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">148</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 10, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.39</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,870,900</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,535,958</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.44</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,690</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 15, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.55</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">300,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">112,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.46</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">238</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 28, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.36</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,075,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,071,875</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.49</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,478</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 29, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.32</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.50</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 31, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.35</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">345,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">79,375</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.50</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">181</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">June 28, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.90</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,784,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">563,625</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.75</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,881</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">August 16, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.48</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">215,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,875</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.88</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">96</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">August 18, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.48</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">300,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,500</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.88</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">128</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">September 27, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.15</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">585,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.99</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">September 27, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.87</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">195,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24,375</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4.99</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">55</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">September 30, 2026</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.15</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">450,000</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5.00</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">27,707,702</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">12,736,998</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4.16</font></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">17,060</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognized share-based payments expense related to the issuance of stock options for the three and six months ended September&#160;30, 2021 of $5,384 and $10,052 respectively. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company has 5,962,500 options held in escrow (March&#160;31, 2021 - 8,475,000).</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 18 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outstanding options and warrants disclosed above were anti-dilutive for the current period and did not impact the calculation of the loss per share.</font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_46"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">9.&#160;&#160;&#160;&#160;RELATED PARTY TRANSACTIONS AND BALANCES</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Key management personnel include persons having the authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has determined its key management personnel to be executive officers and directors of the Company.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The remuneration of key management personnel for the three and six months ended September&#160;30, 2021 are as follows&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:44.976%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.255%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.255%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.756%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.258%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three-months ended September 30, </font></td><td colspan="6" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Six-months ended<br>September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consulting fees, payroll and other benefits</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,840</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">397</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,963</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">660</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based payments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 15.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Options</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,868</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,979</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 15.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Warrants</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">28</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">69</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,160</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,736</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">491</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">8,011</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,929</font></td></tr></table></div><div id="iffdd083cdab34b4781a00bdf84c3820a_49"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10.&#160;&#160;&#160;&#160;GENERAL AND ADMINISTRATIVE EXPENSES</font></div><div style="margin-bottom:6pt;padding-left:14.4pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.275%"><tr><td style="width:1.0%"></td><td style="width:45.028%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.079%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.917%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt 0 3.77pt"></td><td colspan="6" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three-months ended September 30,</font></td><td colspan="6" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Six-months ended September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Marketing</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,450</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">367</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">6,409</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">536</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payroll, consulting and benefits</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,349</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">387</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3,573</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">859</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office and administration</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,071</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">102</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,909</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">133</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Professional and consulting fees</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">725</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">339</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,793</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">894</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Listing fees</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">236</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">145</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">337</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">145</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7,831</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,340</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">14,021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,567</font></td></tr></table></div><div id="iffdd083cdab34b4781a00bdf84c3820a_52"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">11.&#160;&#160;&#160;&#160;CONTRACTS AND COMMITMENTS</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the investment in RxLive, Cybin has agreed to participate in a private placement of subscription receipts of Finco in an amount of up to $500.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company had also entered into agreements for preclinical studies which may require the Company to spend up to an additional $7,054 (US$5,537). The Company expects to pay this amount within the next 18 months, however the timing and certainty of the payments are contingent on availability of materials and successful completion of certain milestones. The Company has the right to cancel the preclinical studies at its discretion, in which case a cancellation fee may apply, however the Company is not liable to pay the full amount of the study. </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 19 of 25</font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_55"></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.&#160;&#160;&#160;&#160;CAPITAL MANAGEMENT</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s objectives when managing capital are to safeguard the Company&#8217;s ability to continue as a going concern in order to pursue business opportunities and to maintain a flexible capital structure that optimizes the costs of capital at an acceptable risk.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company requires capital to fund existing and future operations and meet regulatory capital requirements. The Company&#8217;s policy is to maintain adequate levels of capital at all times.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s capital structure includes the following&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:59.667%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.268%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.765%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Shareholders&#8217; equity comprised of&#58;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share capital</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">136,020</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,676</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Contributed surplus</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">124</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">124</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Options reserve</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">17,060</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,158</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Warrants reserve</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,697</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,166</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accumulated other comprehensive income (loss)</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(153)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deficit</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(65,354)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(33,030)</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">99,394</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">86,118</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s objectives when managing capital are to (i) provide financial capacity and flexibility in order to preserve its ability to meet its strategic objectives and financial obligations&#59; (ii) maintain a capital structure which allows the Company to respond to changes in economic and marketplace conditions and affords the Company the ability to participate in new investments&#59; (iii) optimize the use of its capital to provide an appropriate investment return to its shareholders equal with the level of risk&#59; and (iv) maintain a flexible capital structure which optimizes the cost of capital at acceptable levels of risk.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s financial strategy is formulated and adapted according to market conditions in order to maintain a flexible capital structure that is consistent with its objectives and the risk characteristics of its underlying assets. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of its underlying assets. The Company maintains or adjusts its capital level to enable it to meet its objectives by raising capital through the issuance of securities.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s capital management objectives, policies and processes generally remained unchanged during the three and six months ended September&#160;30, 2021.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 20 of 25</font></div></div></div><div id="iffdd083cdab34b4781a00bdf84c3820a_58"></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">13.&#160;&#160;&#160;&#160;FINANCIAL INSTRUMENTS</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company&#8217;s financial instruments are exposed to certain financial risks, which include currency risk, credit risk, liquidity risk and interest rate risk.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has classified its financial instruments as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.739%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.066%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.895%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial assets, measured at fair value&#58;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,179</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,026</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investments</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">250</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial assets, measured at amortized cost&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">342</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial liabilities, measured at fair value&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:8.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent consideration payable</font></div></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,442</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,201</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Financial liabilities, measured at amortized cost&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt 2px 9.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,629</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,793</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The carrying value of the Company&#8217;s financial instruments approximate their fair value.</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Fair value Hierarchy of Financial Instruments</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has categorized its financial instruments that are carried at fair value, based on the priority of the inputs to the valuation techniques used to measure fair value, into a three-level fair value hierarchy as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 1&#58;  Fair value is based on unadjusted quoted prices for identical assets or liabilities in an active market. The types of assets and liabilities classified as Level 1 generally included cash. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 2&#58; Fair value is based on quoted prices for similar assets or liabilities in active markets, valuation that is based on significant observable inputs, or inputs that are derived principally from or corroborated with observable market data through correlation or other means. Currently, the Company has no financial instruments that would be classified as Level 2. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Level 3&#58; Fair value is based on valuation techniques that require one or more significant inputs that are not based on observable market inputs. These unobservable inputs reflect the Company&#8217;s assumptions about the assumptions market participants would use in pricing the asset or liability. The investments in 3W Wellness Inc. and RxLive and the contingent liabilities are classified as Level 3. </font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no transfers between levels of the fair value hierarchy for the three and six months ended September&#160;30, 2021.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 21 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements&#58; </font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.367%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.605%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.973%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Description</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Fair Value as at</font></td><td colspan="3" rowspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Unobservable inputs</font></td><td colspan="3" rowspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Range of inputs</font></td><td colspan="3" rowspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Relationship of unobservable inputs to fair value</font></td></tr><tr style="height:14pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2021</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2021</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 3.75pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">000&#8217;s</font></td><td colspan="3" style="padding:2px 3.75pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">000&#8217;s</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Rx Hybrid Instrument and RxLive Derivatives</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">250</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fair value interest rate of loan and conversion feature</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10%</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Increase&#47;decrease in the fair value rate by 1% would not have a material effect on the fair value of the investment</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%;text-decoration:underline">Financial risk management</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Credit risk</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company&#8217;s cash is exposed to credit risk.  The Company reduces its credit risk on cash by placing these instruments with institutions of high credit worthiness. As at September&#160;30, 2021, the Company&#8217;s maximum exposure to credit risk is the carrying value of its financial assets. </font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Liquidity risk</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liquidity risk is the risk that an entity will encounter difficulty in raising funds to meet commitments associated with financial instruments. The Company manages liquidity by maintaining adequate cash balances to meet liabilities as they become due.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company had cash and cash equivalents of $75,179 (March&#160;31, 2021 - $64,026) in order to meet current liabilities. Accounts payable and accrued liabilities include trade payables and other obligations of $2,629 (March&#160;31, 2021 - $2,793), all amounts are due within the next 12 months.  In addition, the Company has agreed to participate in a private placement of subscription receipts of Finco in an amount of up to $500.</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Market risk</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant market risks to which the Company is exposed are interest rate risk and currency risk.</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Interest rate risk</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate because of changes in market interest rate. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities. As at September&#160;30, 2021, the Company has determined its exposure to interest rate risk is minimal.</font></div><div style="margin-top:10pt;padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Currency risk</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to currency risk to the extent that monetary operational expenses are denominated in both CAD and USD while functional currency of CAD in used for reporting.  The Company has not entered into any foreign currency contracts to mitigate this risk.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 22 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company had the following balances in monetary assets and monetary liabilities which are subject to fluctuation against CAD&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.474%"><tr><td style="width:1.0%"></td><td style="width:81.125%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.675%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Denominated in&#58;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">US$000&#8217;s</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash</font></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">943</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts payable and accrued liabilities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(264)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">679</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency rate</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.2741&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equivalent in Canadian dollars</font></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$</font></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">865</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the above net exposures as at September&#160;30, 2021, and assuming that all other variables remain constant, a 10% change of the USD against the CAD would impact net loss by approximately by $87.</font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_61"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">14.&#160;&#160;&#160;&#160;INCOME TAX</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Major items causing the Company&#8217;s income tax rate to differ from the Canadian statutory rate of approximately 26.50% are as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.673%"><tr><td style="width:1.0%"></td><td style="width:46.973%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.797%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.136%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Three-months ended September 30, </font></td><td colspan="6" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Six-months ended September 30,</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net loss and comprehensive loss before income taxes</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(17,607)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,660)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(32,324)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,023)</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expected recovery at statutory rate</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(4,666)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(705)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(8,566)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,861)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share-based compensation</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,446</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">208</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,711</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">867</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Difference between Canadian and foreign tax rates</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">537</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">653</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accretion of convertible note</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-deductible expenses</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">229</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">495</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Change in unrecognized deferred tax assets</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,454</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">497</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,707</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">991</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income tax recovery</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$               &#8212;</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$              &#8212;</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">$             &#8212;</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$               &#8212;</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The significant components of the Company&#8217;s deferred tax assets, resulting from temporary differences, unused tax credits and unused tax losses, that have not been included on the consolidated statements of financial position, are as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:59.667%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.268%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.765%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">As at</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">September 30, 2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">March 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-capital loss carryforwards</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10,272</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,660</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share issuance costs</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">993</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,126</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation&#47;CCA differences</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">231</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">32</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11,528</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,821</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Valuation allowance</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(11,528)</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,821)</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 23 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These deferred tax assets have not been recognized because it is not probable that future taxable profit will be available against which the Company will be able to use these potential benefits.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Non-capital loss balance</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company has non-capital losses in Canada, which under certain circumstances can be used to reduce the taxable income of future years. The non-capital losses expire as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.153%"><tr><td style="width:1.0%"></td><td style="width:82.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.567%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Year of expiry</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2040</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">740</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2041</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">19,373</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2042</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">15,158</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">35,271</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company has non-capital losses in the United States, which under certain circumstances can be used to reduce the taxable income of future years. The non-capital losses, stated in Canadian dollars, that will expire as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.993%"><tr><td style="width:1.0%"></td><td style="width:82.372%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.428%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Year of expiry</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2041 - Pre-acquisition loss generated up to December 4, 2020</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,208</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2041 - Loss generated in the period from December 4, 2020 to March&#160;31, 2021</font></div></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,572</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2042 - Loss generated in the six-month period ended September&#160;30, 2021</font></div></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2,178</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4,958</font></td></tr></table></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although the US federal losses carryforward indefinitely, they are subject to restrictions on their deductibility. The deductibility of the pre-acquisition loss and the post-acquisition loss is restricted to 80% of taxable income in the year of deduction. The pre-acquisition loss is further restricted to an annual limitation under Section 382. As at September&#160;30, 2021, the annual limitation was $136.</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Massachusetts allows for a 20-year carryforward period for restricted and unrestricted losses without limitation.</font></div><div><font><br></font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at September 30, 2021, the Company has non-capital losses in Ireland, which under certain circumstances can be used to reduce the taxable income of future years. The non-capital losses, stated in Canadian dollars, expire as follows&#58;</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.275%"><tr><td style="width:1.0%"></td><td style="width:81.272%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.528%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 19pt 2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year of expiry</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 19pt 2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2042</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,176</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 19pt 0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1,176</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div id="iffdd083cdab34b4781a00bdf84c3820a_64"></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 24 of 25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:126pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #404040;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:120%">For the three and six months ended September&#160;30, 2021 and September&#160;30, 2020</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(All amounts expressed in thousands of Canadian dollars, except share and per share amounts and those amounts indicated as being in US dollars, which are in thousands of US dollars)</font></div><div style="padding-left:2.75pt;padding-right:2.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(Unaudited)</font></div></td></tr></table></div></div><div style="margin-top:10pt;padding-left:18pt;text-indent:-18pt"><font style="color:#2d5f91;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">15.&#160;&#160;&#160;&#160;SUBSEQUENT EVENTS</font></div><div><font><br></font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(a) Exercised securities</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the period from October 1, 2021 to  November&#160;12, 2021, holders of options and warrants exercised securities resulting in the issuance of 498,500 Common Shares for gross proceeds of approximately $291.</font></div><div><font><br></font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(b) Adelia Milestone</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 7, 2021, Adelia completed a portion of certain milestones, as contemplated by the terms of the purchase agreement. Accordingly, Class B Shares having an aggregate value of $707 became due to be issued to the Former Adelia Shareholders, at a price per share to be determined in accordance with the terms of the purchase agreement and applicable securities laws.</font></div><div><font><br></font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(c) Common Share purchase warrant amendment</font></div><div style="margin-top:10pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 10, 2021, the Company approved the amendment of the terms of 1,150,000 Common Share purchase warrants such that the expiry date was extended from June 15, 2025 to November 15, 2025, subject to approval of the Neo Exchange Inc.</font></div><div><font><br></font></div><div style="padding-left:18pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page 25 of 25</font></div></div></div></body></html>
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<title>Document</title></head><body><div id="i768adeb17e49427792295ebb219fdd92_1"></div><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><img alt="capture.jpg" src="capture.jpg" style="height:1px;margin-bottom:5pt;vertical-align:text-bottom;width:1px"><img alt="capture.jpg" src="capture.jpg" style="height:102px;margin-bottom:5pt;vertical-align:text-bottom;width:160px"></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cybin Inc.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(formerly Clarmin Explorations Inc.)</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Management&#8217;s Discussion and Analysis </font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">of Financial Condition and Operating Performance</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three and six months ended September 30, 2021</font></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Date&#58; November&#160;12, 2021</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:12pt;text-align:center"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CYBIN INC.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Management&#8217;s Discussion and Analysis</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">This Management&#8217;s Discussion and Analysis (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MD&#38;A</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) has been prepared by management of Cybin Inc. (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cybin</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; or the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and should be read in conjunction with Cybin&#8217;s interim condensed consolidated financial statements and notes for the three and six months ended September 30, 2021 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Interim</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Financial Statements</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). This MD&#38;A does not address all of the changes to the Company and its business, such changes are addressed in the Company&#8217;s most recently filed annual information form (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">AIF</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) on SEDAR. The Interim Financial Statements have been prepared using International Financial Reporting Standards as issued by the International Accounting Standards Board. All amounts are in Canadian dollars unless otherwise indicated. The Interim Financial Statements may be viewed on the SEDAR profile of Cybin at </font><font style="color:#0563c1;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">This MD&#38;A contains disclosure related to Cybin occurring up to and including November&#160;12, 2021. Unless otherwise indicated, all amounts in this MD&#38;A are in thousands of Canadian dollars.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Cybin was incorporated under the laws of the Province of British Columbia. Its wholly owned subsidiary, Cybin Corp. was incorporated under the laws of the Province of Ontario. Prior to November 5, 2020, the Company&#8217;s operations were conducted through Cybin Corp. On November 5, 2020, the Company completed a reverse takeover transaction pursuant to the terms of an amalgamation agreement dated June 26, 2020, as amended on October 21, 2020, among the Company, Cybin Corp. and 2762898 Ontario Inc. (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">SubCo</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), a wholly-owned subsidiary of the Company&#160;(the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Reverse Takeover</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). The Reverse Takeover was completed by way of a &#8220;three-cornered&#8221; amalgamation pursuant to the provisions of the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Business Corporations Act </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Ontario) whereby Cybin Corp. amalgamated with SubCo to form an amalgamated corporation and a wholly owned subsidiary of the Company. Cybin Corp. is deemed to be the acquirer in the Reverse Takeover. As a result, the consolidated statements of financial position are presented as a continuance of Cybin Corp. and the comparative figures presented are those of Cybin Corp.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Forward-Looking Statements</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Certain statements contained in this MD&#38;A constitute &#8220;forward-looking information&#8221; and &#8220;forward-looking statements&#8221;. All  statements,  other  than  statements  of  historical  fact,  contained  in  this  MD&#38;A  are  forward-looking  statements,  including,  without  limitation,  statements  regarding  future  financial  position, business strategy, budgets, research and development and plans and objectives of management for future operations.  Such statements can, in some cases, be identified by the use of forward-looking terminology such as &#8220;expect,&#8221; &#8220;likely&#8221;, &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;intend,&#8221; or &#8220;anticipate,&#8221; &#8220;potential,&#8221; &#8220;proposed,&#8221; &#8220;estimate&#8221; and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions &#8220;may&#8221; or &#8220;will&#8221; happen, or by discussions of strategy. The forward-looking statements included in this MD&#38;A are made only as of the date of this MD&#38;A and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by applicable securities laws.  </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Forward-looking statements in this MD&#38;A are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Management provides forward-looking statements because it believes they provide useful information to readers when considering their investment objectives and cautions readers that the information may not be appropriate for other purposes. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements contained herein include&#58;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">novel coronavirus &#8220;COVID-19&#8221;&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">limited operating history&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">achieving publicly announced milestones&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">speculative nature of investment risk&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">early stage of the industry and product development&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">regulatory risks and uncertainties</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">plans for growth&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">limited products&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">limited marketing and sales capabilities&#59;</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">no assurance of commercial success&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">no profits or significant revenues&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">reliance on third parties for clinical development activities&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">risks related to third party relationships&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">reliance on contract manufacturers&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">safety and efficacy of products&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">clinical testing and commercializing products&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">completion of clinical trials&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">commercial grade product manufacturing&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">nature of regulatory approvals&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">unfavourable publicity or consumer perception&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">social media&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">biotechnology and pharmaceutical market competition&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">reliance on key executives and scientists&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">employee misconduct&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">business expansion and growth&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">negative results of external clinical trials or studies&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">product liability&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">enforcing contracts&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">product recalls&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">distribution and supply chain interruption&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">difficulty to forecast&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">promoting the brand&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">product viability&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">success of quality control systems&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">reliance on key inputs&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">liability arising from fraudulent or illegal activity&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">operating risk and insurance coverage&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">costs of operating as public company&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">management of growth&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">conflicts of interest&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">foreign operations&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">cybersecurity and privacy risk&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">environmental regulation and risks&#59;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Risks Related to Intellectual Property&#58;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">trademark protection&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">trade secrets&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">patent law reform&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">patent litigation and intellectual property&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">protection of intellectual property&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">third-party licences&#59;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Financial and Accounting Risks&#58;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">substantial number of authorized but unissued common shares&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">dilution&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">negative cash flow from operating activities&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">additional capital requirements&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">lack of significant product revenue&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">estimates or judgments relating to critical accounting policies&#59;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Risks related to the Common Shares (as defined below)&#58;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">market for the Common Shares&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">significant sales of Common Shares&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">volatile market price for the Common Shares&#59;</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">tax issues&#59; </font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">no dividends&#59;</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Risks related to the Company&#58;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">forward-looking statements may prove to be inaccurate&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">potential dilution&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">potential need for additional financing&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">negative operating cash flow and going concern&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">discretion over the use of proceeds&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">management of growth&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">the Common Shares are subject to market price volatility&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">no history of payment of cash dividends&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">limited operating history as a public company&#59; and</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">risks relating to research and development milestones.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Although the forward-looking statements contained in this MD&#38;A are based upon what management currently believes to be reasonable assumptions, the Company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. In particular, the Company has made assumptions regarding, among other things&#58; </font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">substantial fluctuation of losses from quarter to quarter and year to year due to numerous external risk factors, and anticipation that we will continue to incur significant losses in the future&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">uncertainty as to the Company&#8217;s ability to raise additional funding to support operations&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the Company&#8217;s ability to access additional funding&#59; </font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the fluctuation of foreign exchange rates&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the duration of COVID-19 and the extent of its economic and social impact&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the risks associated with the development of the Company&#8217;s product candidates which are at early stages of development&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">reliance upon industry publications as the Company&#8217;s primary sources for third-party industry data and forecasts&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">reliance on third parties to plan, conduct and monitor the Company&#8217;s preclinical studies and clinical trials&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">reliance on third party contract manufacturers to deliver quality clinical and preclinical materials&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the Company&#8217;s product candidates may fail to demonstrate safety and efficacy to the satisfaction of regulatory authorities or may not otherwise produce positive results&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">risks related to filing investigational new drug applications to commence clinical trials and to continue clinical trials if approved&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the risks of delays and inability to complete clinical trials due to difficulties enrolling patients&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">competition from other biotechnology and pharmaceutical companies&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the Company&#8217;s reliance on the capabilities and experience of the Company&#8217;s key executives and scientists and the resulting loss of any of these individuals&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the Company&#8217;s ability to fully realize the benefits of acquisitions&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the Company&#8217;s ability to adequately protect the Company&#8217;s intellectual property and trade secrets&#59;</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the risk of patent-related or other litigation&#59; and</font></div><div style="padding-left:35.7pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:12.38pt">the risk of unforeseen changes to the laws or regulations in the United States, the United Kingdom, and Canada and other jurisdictions in which the Company operates.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Every patient treated on future studies can change those assumptions either positively (to indicate a faster timeline to new drug applications and other approvals) or negatively (to indicate a slower timeline to new drug applications and other approvals). This MD&#38;A contains certain forward-looking statements regarding anticipated or possible drug development timelines. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition to the factors set out above and those identified in this MD&#38;A under &#8220;Risk Factors&#8221;, other factors not currently viewed as material could cause actual results to differ materially from those described in the forward-looking </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">4</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">statements. Although Cybin has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be anticipated, estimated or intended. Accordingly, readers should not place any undue reliance on forward-looking statements.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Corporate Structure Overview</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is a biotechnology company focused on advancing pharmaceutical therapies, delivery mechanisms, novel compounds and protocols as potential therapies for various psychiatric and neurological conditions. The Company is developing technologies and delivery systems aiming to improve the pharmacokinetics of its psychedelic molecules while retaining the therapeutics benefit.  The new molecules and delivery systems are expected to be studied through clinical trials to confirm safety and efficacy.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On November 5, 2020, the Company completed a reverse takeover transaction pursuant to the terms of an amalgamation agreement dated June 26, 2020, as amended on October 21, 2020, among the Company, Cybin Corp. and SubCo, a wholly-owned subsidiary of the Company. The Reverse Takeover was completed by way of a &#8220;three-cornered&#8221; amalgamation pursuant to the provisions of the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Business Corporations Act </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(Ontario) whereby Cybin Corp. amalgamated with SubCo to form an amalgamated corporation and a wholly owned subsidiary of the Company. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Immediately prior to the completion of the Reverse Takeover, the Company completed a common share consolidation on the basis of 6.672 old common shares into one new share. All shares and per share amounts expressed herein reflect the post-consolidation Common Shares.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In connection with the Reverse Takeover, Clarmin changed its name to &#8220;Cybin Inc.&#8221; and the common shares in the capital of the Company (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Common Shares</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) became listed for trading on the Neo Exchange Inc. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Exchange</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) under the trading symbol CYBN. In accordance with IFRS 3, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, the substance of the Reverse Takeover was a reverse takeover of a non-operating company. The Reverse Takeover does not constitute a business combination as Clarmin did not meet the definition of a business under IFRS 3. As a result, the Reverse Takeover is accounted for as a capital transaction with Cybin being identified as the acquirer and the equity consideration being measured at fair value. The resulting unaudited condensed interim consolidated statement of financial position is presented as a continuation of Cybin Corp. and comparative figures presented in the condensed interim consolidated financial statements after the Reverse Takeover are those of Cybin Corp.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Prior to complete the Reverse Takeover, and during fiscal 2020, the Company was inactive and evaluating business opportunities. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On July 8, 2021, the Company announced the scaling up of its European operations and research activities with various academic and clinical research organizations, including the transfer of its intellectual property assets to its  wholly owned Ireland subsidiary, Cybin IRL Limited (&#34;Cybin Ireland&#34;). </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On August 5, 2021, the Common Shares commenced trading on the NYSE American LLC stock exchange (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NYSE American</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) under the symbol &#8220;CYBN&#8221;. Concurrent with the commencement of trading on the NYSE American, the Common Shares ceased to be quoted on the OTCQB&#174; Venture Market.  </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Please refer to &#8220;General Development of the Business&#8221; in the AIF for additional information on the background and operational highlights of Cybin. The AIF may be viewed under the SEDAR profile of Cybin at </font><font style="color:#0563c1;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Business Overview</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has historically had two business segment (a) Serenity Life Sciences Inc. and Cybin US Holdings Inc. (&#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cybin U.S.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#34;) that focus on the research and development of psychedelic pharmaceutical products&#59; and (b) Natures Journey Inc. (&#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Natures Journey</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#34;) that focused on consumer mental wellness, including non-psychedelic nutraceutical products (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Product Line</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and consumer mental wellness. Subsequent to quarter end, the Company decided to not proceed with the Natures Journey business segment in order to prioritize its research and development of psychedelic pharmaceutical products. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Psychedelics</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is conducting research and development of psychedelic therapeutics that aim to address unmet mental health conditions by leveraging proprietary drug discovery platforms, novel formulation approaches, innovative drug delivery systems, and optimized treatment regimens. This comprehensive strategy is predicated on structural modifications of known and well understood tryptamine derivatives to improve their pharmacokinetic properties without altering their respective pharmacology. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Across the various research and development programs, the Company is researching and developing a wide array of novel, synthetic psychedelic active pharmaceutical ingredients (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">API</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) intended to be delivered through innovative drug delivery systems including sublingual films</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, orally disintegrating tablets (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">ODT</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> and via inhalation.   </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to apply for regulatory approval for products targeting major depressive disorder (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MDD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;),  alcohol use disorder (&#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">AUD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#34;) and various anxiety disorders</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Further, over the next 12-month period, the Company will continue to seek to establish strategic partnerships that advance the Company&#8217;s scientific research and intellectual property for new psychedelic compounds and novel delivery mechanisms</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">4</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company will also continue to sponsor select clinical trials that advance the safety and efficacy understanding of various psychedelic agents that target mental health</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">5</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Non-Psychedelics</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Subsequent to quarter end, the Company decided to not proceed with the Natures Journey business segment, including the Product Line in order to prioritize its progression of its research and development of psychedelic pharmaceutical products. As of the date of this MD&#38;A, the Company has not begun operations nor generated any revenue from the sale of the Product Line</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:112%;position:relative;top:-3.5pt;vertical-align:baseline"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">and it does not expect any revenues from the Product Line going forward. The Company&#8217;s revenues reflected in its 2021 annual consolidated financial statements are from non-recurring opportunist sales of non-core products sold in the United States. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:125%">Stage of Development </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Like most life sciences and pharmaceutical companies, the Company's psychedelic business is focused on research and development and any future revenue will be dependent on a number of factors, including the outcome of the Company&#8217;s sponsored clinical trials and the receipt of all necessary regulatory approvals.</font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> The material factors and assumptions underlying this forward-looking statement are&#58; drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. The Company has contracted with IntelGenx to develop a sublingual film formulation of psilocybin. IntelGenx has produced multiple formulation types, but the final formulation has not been selected. Successful completion of formulation is necessary before clinical trials supplies can be provided to investigators</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> The Company is currently applying Catalent&#8217;s proprietary Zydis&#174; ODT technology as a delivery method during the development of our novel deuterated tryptamine. Zydis technology creates a freeze-dried tablet that disperses almost instantly in the mouth without water and is recognized as one of the world&#8217;s best-performing ODTs.&#160;The material factors and assumptions underlying this forward-looking statement are&#58; drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">3 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The material factor and assumption underlying this forward-looking statement is that drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">4 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The material factor and assumption underlying this forward-looking statement is that the Company will be able to successfully negotiate strategic partnerships.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">5 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The material factors and assumptions underlying this forward-looking statement are&#58; (a) that the Company will be able to successfully negotiate strategic partnerships&#59; and (b) all necessary approvals for the studies will be obtained. As of the date hereof, the Company and the University of Washington are co-sponsoring a randomized, placebo-controlled clinical trial of psychedelic-assisted psychotherapy with psilocybin for frontline clinicians experiencing Covid-related distress.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s revenues reflected in the Interim Financial Statements originated from non-core, nutraceutical formulation which was purchased and formulated into finished goods and sold in the United States to one purchaser. The products will not be re-generated in the future and do not represent core sales of the Company and&#47;or core products of the Company. The Company has discontinued its sales of such products as it is not in line with the Company&#8217;s core sales model. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In order to establish its business operations, the Company intends to leverage the extensive professional network of its management to build working partnerships with (i) existing producers of psychedelic products based in Canada, the United States, and the United Kingdom to source the psychedelic pharmaceutical products the Company intends to develop and distribute under its specific brand, and (ii) to explore options to facilitate the development and distribution and sale of its specific brand of psychedelic pharmaceutical products.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">6</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s marketing and brand development will be driven through a digital marketing strategy composed of digital advertising and influencer marketing. Prescription drugs are classified and regulated under the federal </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Food and Drugs Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (Canada) (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Canadian FDA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). Labelling, marketing and selling of any prescription drug must comply with the Canadian FDA, including by ensuring that the Company&#8217;s products are not packaged or marketed in a manner that is misleading or deceptive to a consumer. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In the United States, foods, drugs and dietary supplements are subject to extensive regulation. The </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Federal Food, Drug, and Cosmetic Act </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">FFDCA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and other federal and state statutes and regulations govern, among other things, the research, development, testing, manufacturing, storage, recordkeeping, approval, labeling, promotion and marketing, distribution, post-approval monitoring and reporting, sampling, and import and export of pharmaceutical products. The Company must ensure that all promotion and marketing, distribution, and labeling of any pharmaceutical products comply with the U.S. regulations, including the FFDCA and the U.S. Food and Drug Administration (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">FDA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Non-Revenue Generating Projects</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-style:italic;font-weight:700;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">7</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company currently has four significant projects, which have not yet generated revenue&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">a.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.97pt">Deuterated Psilocybin Analog Program</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">b.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.46pt">Deuterated Tryptamines Preclinical Programs</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">c.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:10.58pt">Phenethylamine Preclinical Program</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">d.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:9.46pt">Technology Programs</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company previously had a fifth project, the Nutraceutical Product Program&#59; however, subsequent to quarter end, the Company concluded that it would no longer be progressing with this program in order to prioritize its progression of psychedelic molecules. In addition, the Company has merged its Psilocybin Program with its CYB003 Deuterated Tryptamine Pre-clinical Program and will be prioritizing the progression of the a. Deuterated Psilocybin Analog Program going forward, as it has been identified as a superior molecule. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">To support the programs listed above, the Company developed EMBARK</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline">TM</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, a psychotherapy model that integrates leading clinical approaches to promote supportive healing with psychedelic medicine. EMBARK</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline">TM</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8217;s six clinical domains (</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">E</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">xistential-Spiritual, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">M</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">indfulness, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">B</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">ody Aware, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">A</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">ffective-Cognitive, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">R</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">elational, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">K</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">eeping Momentum) represent the broad spectrum of ways in which therapeutic benefits may arise in psychedelic treatment and the equally broad training needed to prepare therapists to support them all. The Company has launched its EMBARK training program, which prepares facilitators to work within all of these domains, while inviting facilitators to bring in their own therapeutic training and expertise in a flexible, yet structured way. The EMBARK curriculum additionally emphasizes trauma-informed, culturally competent, and ethically rigorous care. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">6</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">At this time the Company has not entered into commercial supply agreements and has no control over price or conditions. The Company&#8217;s assumption is that it will be able to enter into agreements at such a time when there will be sufficient competition in the market which will render prices reasonable.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">7</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">All quarter references in this section are based on calendar year-end.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">7</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Deuterated Psilocybin Analog Program (formerly the Psilocybin Program)</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Psilocybin was the Company's first drug program in development. The Company&#8217;s sublingual film formulation of psilocybin is a synthetic psychedelic molecular formulation, the activity for which is in part based upon classical serotonin 2A psychedelic activity. A provisional patent has been filed covering the sublingual delivery of psilocybin. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Studies of psilocybin efficacy in depressive states published by Johns Hopkins University demonstrate promising potential efficacy of psilocybin and, therefore, of the Company&#8217;s novel formulation. The Company has contracted with IntelGenx (as defined below) to undertake the development of a sublingual film formulation of psilocybin. To date, an array of drug formulation candidates have been created and the Company continues to pursue the optimization of certain characteristics of these formulations including, but not limited to, composition, membrane permeation and stability. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021, the Company has spent approximately $1,717 on formulation development. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">While oral psilocybin has been demonstrated to be efficacious the Company did recognize the challenges and limitations of the molecule and worked on ways to address them, by simultaneously looking at the formulation in two programs and then the molecule itself in another. In light of compelling data regarding the Company&#8217;s novel oral psilocybin analog molecule (CYB003), the Company has determined that it would be leveraging the data obtained through the psilocybin program to advance its newly defined Deuterated Psilocybin Analog Program. The Deuterated Psilocybin Analog Program will merge both the MDD and AUD indications into a single program. The Company has determined that this merger of programs would be the most efficient and cost-effective way for the Company to move forward. The Company will be prioritizing the progression of the deuterated psilocybin analog at this time, as this has been demonstrated to be the superior molecule. It will continue to advance on the previous disclosed psilocybin milestones, in the U.S. and the UK, as it deems them necessary to bring psychedelics to therapeutics. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">While oral psilocybin has been demonstrated to be efficacious, the Company did recognize the challenges and limitations of the molecule and worked on ways to address them by simultaneously looking at the formulation in two programs and then the molecule itself in another. In light of compelling data regarding the Company&#8217;s novel oral psilocybin analog molecule (CYB003), the Company has determined that it would be leveraging the data obtained through the Psilocybin Program to advance its newly defined Deuterated Psilocybin Analog Program. The Deuterated Psilocybin Analog Program will merge both the MDD and AUD indication into a single program. The Company has determined that this merger of programs would be the most efficient and cost-effective way for the Company to move forward. The Company will be prioritizing the progression of the Deuterated Psilocybin Analog Program, as this has been demonstrated to be the superior molecule. The Company will continue to advance on the previous disclosed psilocybin milestones, in the U.S. and the UK, as it deems them necessary to bring psychedelics to therapeutics.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">   </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company intends to complete the pre-clinical studies and the Chemistry, Manufacturing and Control (&#34;CMC&#34;) development, including the production of clinical materials, in Q1 2022. Subsequent to the completion of the pre-clinical studies and the CMC development, the Company intends to file an IND and clinical trial application (&#34;CTA&#34;) with the US FDA and the UK Medicines and Healthcare products Regulatory Agency (the &#8220;MHRA&#8221;), respectively, in Q2 2022. There is no assurance that these timelines will be met or that these preclinical drug candidates will advance to clinical trials at all. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Due to the new Deuterated Psilocybin Analog Program, the Company no longer anticipates to conduct any business activities in Jamaica. The Company intends to complete future clinical trials in the U.S. and the UK.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Deuterated Tryptamines Preclinical Programs</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the acquisition of Adelia, the Company acquired preclinical deuterated tryptamines programs. To date, the Company has undertaken sufficient work to enable selection of two deuterated tryptamine candidates and has scaled up production processes to optimize and maximize yields and ensure the drug candidates meet the required purity levels. In vitro proof of principal in animal models has been completed to ensure selection of molecules with optimal anticipated pharmacokinetics best suited for future phase I clinical trials.&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">While the Company was previously focusing on two deuterated tryptamine candidates, CYB003 and CYB004, this program is now focused on one candidate, CYB004. The Company has a newly defined program, the Deuterated Psilocybin Analog Program, which merges the initiatives of the Psilocybin Program and the CYB003 into one single </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">program (Deuterated Psilocybin Analog Program). The work performed to date related to CYB003 in this program has been instrumental in defining the new program, as described above.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company anticipates that its CYB004 candidate may enter phase I clinical trials by the end of Q2 2022, updated from the prior estimate of Q1 2022, but there is no assurance that these timelines will be met or that these preclinical drug candidates will advance to clinical trials at all.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">8</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> The Company has started research on N, N-dimethyltryptamine (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">DMT</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) like molecules and research is ongoing to identify the best development candidate.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021, the Company has spent approximately $2,750 on deuterated tryptamines. of which $1,808 is related to the progression of CYB003. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Since the date of the AIF, the Company continued to advance its deuterated tryptamine preclinical program as described herein, including with the following progress&#58; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">completed additional pre-clinical studies on its CYB003 and CYB004 proprietary psychedelic molecules&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">completed Zydis feasibility studies with Catalent, Inc. (&#8220;Catalent&#8221;) for its fast-dissolve formulation of novel deuterated tryptamine (CYB003)&#59; and</font></div><div style="margin-bottom:0.12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">transitioned its work on CYB003 into a new program&#59; the Deuterated Psilocybin Analog Program, which will include both the AUD and MDD indications (refer to Deuterated Psilocybin Analog Program section above for further details).</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Phenethylamine Preclinical Program</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the acquisition of Adelia, the Company  acquired a preclinical phenethylamine program. Work on the synthesis and optimization of these molecules has only recently begun at a third-party vendor. The Company anticipates that its phenethylamine program may deliver a drug candidate suitable for entry into phase I clinical studies by the end of calendar 2022 or early calendar 2023, updated from the prior estimate of late calendar 2021 to early calendar 2022 due to certain research and development delays, but there is no assurance that these timelines will be met or that a preclinical drug candidate will advance to clinical trials at all.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">9</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021, the Company has spent approximately $441 on preclinical phenethylamines.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Since the date of the AIF, the Company has continued its work on its synthesis and optimization of phenethylamines. Multiple phenethlyamines have been shown to have psychedelic properties and several such as MDMA have shown great promise as therapeutics. Cybin&#8217;s proprietary approach to phenethlyamine modification with deuterium substitution, proprietary formulations and directed delivery systems has yielded a number of novel leads with significant therapeutic potential. Several compounds are now being further studied both in vitro and in vivo for selection of the best development candidates. </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">8</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">This statement is based on the following material factors and assumptions&#58; (a) the timely and successful completion of certain preclinical studies including but not limited to&#58; (i) complete the development of stable formulations utilizing these APIs&#59; (ii) the development and validation of analytical methods for such formulations&#59; (iii) the scale up of API production processes beyond laboratory scale will be suitable for entry into animal and human studies&#59; (iv) studies of the stability of such formulations will be suitable for human studies&#59; and (v) the development of Chemistry, Manufacturing and Controls to meet cGMP&#59; (b) the Company assumes it will enter into agreements with certain third party vendors to complete a range of additional preclinical programs before the final selection of drug candidates for entry into human trials&#59; and (c) obtain an IND and&#47;or a CTA to enter into clinical trials. As of the date hereof, it has not yet completed the aforementioned items. Drug development involves long lead times, is very expensive and involves many variables of uncertainty. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.   </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">9</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">This statement is based on the following material factors and assumptions&#58; (a) the Company assumes it will enter into a contract with a licensed third-party vendor to undertake extensive preclinical characterization of target molecules on the Company&#8217;s behalf&#59; (b) the Company anticipates to complete a number of animal models and the completion of Absorption, Distribution, Metabolism, and Excretion (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">ADME</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8221;) profiles&#59; (c) the Company assumes to enter into third party agreements in order to complete a range of additional preclinical programs including but not limited to dose-ranging studies in multiple animal species, toxicity studies in multiple animal species, genotoxicity studies, teratogenicity studies, along with neuropharmacological, pulmonary, and cardiovascular profiling before the final selection of drug candidates for entry into human trials&#59; and (d) obtain an IND and&#47;or a CTA to enter into clinical trials. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Technology Programs</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company was previously working on a number of fronts to establish an e-Commerce platform to support the education, sales and marketing of potential consumer and prescription mental wellness products, including but not limited to its line of nutraceutical products. However, due to the fact that the Company has made the decision to no longer pursue the Product Line, this initiative has been cancelled. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has begun work on the creation of a patient digital therapy platform (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Digital Platform</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). The Digital Platform is envisioned to help patients undergoing psychedelic therapies to memorialize the learning from their treatment sessions and to assist with the integration of such learnings into the patient&#8217;s psychotherapy program. Activities have been undertaken to establish the design of a Minimum Viable Product and to identify the necessary key modules and components.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On January 11, 2021, the Company announced that it has entered into an agreement with HI, LLC dba Kernel (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Kernel</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) that will enable the Company to use Kernel Flow devices to potentially measure neural activity during psychedelic therapy. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On June 1, 2021, the Company announced its sponsorship of Kernel&#8217;s feasibility study of its Kernel Flow technology to measure ketamine&#8217;s psychedelic effect on cerebral cortex hemodynamics.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">10</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> While the Company previously announced that  delivery was expected in Q2 2021 and studies would commence in the second half of 2021, the Company has since decided to focus on sponsoring 3rd-party studies using the Kernel Flow technology in the near term.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On July 13, 2021, the Company announced that it has commenced the next phase of the Company&#8217;s digital therapeutics platform which will better enable the evaluation of patient outcomes through a highly secure, patient-centered data analytics platform for better pre- and post-psychedelic treatments</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">11</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. The digital therapeutics platform, which is proprietary to Cybin and the subject of the Company&#8217;s 13</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> patent application, adds another dimension to the Company&#8217;s development programs</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">12</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On October 26, 2021, the Company announced that the FDA has authorized an Investigational New Drug (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">IND</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) application to proceed with the Company&#8217;s sponsored feasibility study using Kernel&#8217;s Flow technology to measure ketamine&#8217;s psychedelic effect on cerebral cortex hemodynamics.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Timelines for progression of the above technology programs, along with anticipated future spending are detailed in &#8220;Use of Proceeds&#8221; but there is no assurance that these timelines will be met or that these programs will become commercially viable. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021, the Company has spent approximately $653 on its technology programs.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Nutraceutical Products</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Subsequent to quarter end, the Company determined that it would not proceed with the Product Line in order to focus its efforts on the research and development progression of psychedelic molecules. The Company had previously </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">10</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The Company assumes timely delivery of the these devices, entering into contracts with selected academic research institutions and the approval of the final research study protocols. As of the date hereof, it has not yet completed the aforementioned items. Drug development involves long lead times, is very expensive and involves many variables of uncertainty. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">11 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The material factors or assumptions include, but are not limited to&#58; (i) the demand for, and benefits of, the introduction of the digital therapy platform being materially accurate in light of the Company&#8217;s assessment of market and competitive conditions, and (ii) the individuals necessary to develop and operate the digital therapy platform being readily available, and willing to enter into favourable contractual arrangements with the Company in respect thereof.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">12 </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Significant events that must occur to move forward with the proposed business objective include identifying the intended consumer, entering into third party agreements to develop the platform, and identifying and retaining qualified individuals to support the ongoing development and operation of the digital therapy platform. The material factors and assumptions include, but are not limited to&#58; (i) the demand for, and benefits of, the introduction of the digital therapy platform being materially accurate in light of the Company&#8217;s assessment of market and competitive conditions, and (ii) the individuals necessary to develop and operate the digital therapy platform being readily available, and willing to enter into favourable contractual arrangements with the Company in respect thereof.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline"> </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">indicated that it the timeline for the Product Line was updated from Q4 2021 to Q1 2022, however this business segment will not be pursued. The Company has spent approximately $nil on the Product Line since the Listing Statement.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;margin-top:0.02pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Relationships with Third Parties</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The Company&#8217;s research and development on its psychedelic pharmaceutical products is conducted by way of licensed partners including IntelGenx Corp. (&#8220;IntelGenx&#8221;). The Company also intends to sponsor clinical and other studies at various clinical trial sites. As of the date of this MD&#38;A, the Company and the University of Washington are co-sponsoring a randomized, placebo-controlled clinical trial of psychedelic-assisted psychotherapy with psilocybin for frontline clinicians experiencing COVID-19 related distress. </font></div><div style="margin-bottom:0.12pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On July 6, 2021, the Company entered into a collaboration agreement with Greenbrook TMS to establish mental health centers of excellence for the purpose of facilitating research and development of innovative psychedelic compound-based therapeutics for patients suffering from depression. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has established contractual sources of synthetic GMP (as defined below) and non-GMP raw materials to support its development operations through licensed third-party suppliers located in Canada, the United States and the United Kingdom. Such raw materials are expected to be, in general, readily available and in adequate supply to meet the Company&#8217;s need for development quantities, or custom manufactured on the Company's behalf.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">13</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> The prices of research quantities of psilocybin and novel psychedelic compounds are generally higher than commercial supply prices at significantly larger scale and the Company, therefore, expects its supply prices to reduce over time. Development and production of the Company&#8217;s proprietary novel compounds is performed under confidential contractual agreements.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has conducted due diligence on each such third party, including but not limited to the review of necessary licences and the regulatory framework enacted in the jurisdiction of operation.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Update on Use of Proceeds </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has committed the following capital expenditures to meet its planned growth and fund development activities and, as of September 30, 2021, there have not been, and the Company does not anticipate, any changes to its previously made disclosure about the Company&#8217;s intended use of proceeds except as described below.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The below table describes the differences between the Company&#8217;s anticipated use of proceeds from private placements as disclosed in the Listing Statement, and the Company&#8217;s actual use of proceeds from those financings as at September 30, 2021. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">13</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">At this time the Company has not entered into commercial supply agreements and has no control over price or conditions. The Company has assumed that it will be able to enter into commercial supply agreements at such a time when there will be sufficient competition in the market which will render prices reasonable. </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.606%"><tr><td style="width:0.1%"></td><td style="width:0.381%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:52.824%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.708%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.708%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.779%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:59.8pt;margin-top:5.4pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:102%">Use of Available Funds ($000&#8217;s)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:102%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Previous Disclosure Regarding Use <br>of Proceeds in Listing Statement</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Actual Use of Proceeds as at September 30, 2021</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Variance</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Deuterated Psilocybin Analog Program (formerly the Psilocybin Program)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Chemically develop and synthesize psychedelic API</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$432</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$23</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$409</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Development of psilocybin Sublingual Film</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$238</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$3</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$235</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIa MDD study completed with data</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$600</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,170</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(570)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIb MDD study completed with data</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,000</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,000</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Support of additional phase IIb study sites in Canada and the United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$521</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(521)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Commence microdose study with the Canadian Centre for Psychedelic Science </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$50</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$50</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Commence safety and efficacy clinical study with the University of the West Indies </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$750</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$750</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Deuterated Tryptamines Preclinical Programs</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of CYB003 for phase I studies readiness and utilization of the associated delivery platform</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,808</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(1,808)</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of CYB004 for phase I studies readiness</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$942</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(942)</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Phenethylamine Preclinical Development Program</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Phenethylamine preclinical development program</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$441</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(441)</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:5.15pt;margin-top:5.35pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nutraceutical Products</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Inventory fulfilment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product deployment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nutraceutical marketing</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$100</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$100</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Technology</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marketing</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,000</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,000</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Development of patient digital therapy platform</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$444</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(444)</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Commence study utilizing Kernel Flow technology</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$209</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(209)</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 6.05pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Other</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Transaction costs (legal fees, audit fees, transfer agent fees and other expenses)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$575</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$4,082</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(3,507)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">General and administrative</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline"> (7)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$4,800</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$23,777</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(18,977)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total use of funds</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$10,945</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$33,420</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(22,475)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-top:5.6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Unallocated working capital</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$38,722</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$16,247</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$22,475</font></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">TOTAL&#58;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$49,667</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$49,667</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr></table></div><div style="margin-bottom:0.12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:96%;text-decoration:underline">Notes&#58;</font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">Certain amounts have been converted from USD to CAD at an exchange rate of 1.26&#58;1.</font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">In light of compelling data related to CYB003, the Company will merge its Psilocybin Program with its deuterated tryptamine CYB003 preclinical program. The Company was previously running the programs in parallel in order to determine the molecules and methods of actions with the most benefits and least amount of drawbacks. This has now evolved into a single program, focusing on both the MDD and AUD indication in the U.S. and UK, to prioritize the advancement of the superior molecule in the most cost effective manner. </font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">The actual cost is lower than previously anticipated, and as previously disclosed in the Listing Statement, as a result of the termination of the professional services agreement dated June 24, 2020 between Cybin Corp. and Smart Medicines GMP Inc. Prior to the date of the Listing Statement, the Company spent $1,500 on this milestone.</font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">On April 6 2021, the Company provided notice to the Canadian Centre for Psychedelic Science (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CCPS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8221;) of its decision to terminate this arrangement.</font></div><div style="padding-left:25.2pt;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:115%">(5)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:115%;padding-left:14.72pt">The Listing Statement inadvertently duplicated this milestone, which forms part of the estimated cost of the phase IIa and phase IIb MDD study listed below.The Company no longer anticipates to conduct any business activities in Jamaica. The Company intends to complete future clinical trials in the U.S. and the UK.</font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">The Company concluded its evaluation of the Product Line and its related marketing platform and concluded that it would not proceed with this program in order to prioritize the research and development progression of psychedelic molecules.</font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(7)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">General and administrative expenses are comprised of payroll consulting and benefits $5,799, office and administrative $7,586, marketing investor relations $10,392.</font></div><div style="margin-top:0.2pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(8)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">The unallocated working balance will be held in short-term, investment grade, interest-bearing securities, in government securities or in bank accounts at the discretion of management. </font></div><div style="margin-bottom:0.12pt;text-align:justify;text-indent:-7.2pt"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The below table describes the differences between the Company&#8217;s anticipated use of proceeds as disclosed in the Company&#8217;s public offering completed on February 4, 2021 as described in its final prospectus dated February 1, 2021 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">February 2021 Prospectus</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), and the Company&#8217;s actual use of proceeds from that offering as at September 30, 2021. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.606%"><tr><td style="width:0.1%"></td><td style="width:0.381%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:52.824%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.708%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.708%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.779%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:59.8pt;margin-top:5.4pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:102%">Use of Available Funds ($000&#8217;s)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:102%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Previous Disclosure Regarding Use <br>of Proceeds in the February 2021 Prospectus</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Actual Use of Proceeds as at September 30, 2021</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Variance</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Deuterated Psilocybin Analog Program (formerly the Psilocybin Program)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Chemically develop and synthesize psychedelic API</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$21</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(21)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Development of psilocybin Sublingual Film</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$238</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$3</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$235</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIa MDD study completed with data</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$600</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$737</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(137)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIb MDD study completed with data</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,000</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,000</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Support of additional phase IIb study sites in Canada and the United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,950</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$512</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,438</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Commence microdose study with the Canadian Centre for Psychedelic Science</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$50</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$50</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Commence safety and efficacy clinical study with the University of the West Indies</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Deuterated Tryptamines Preclinical Programs</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of CYB003 for phase I studies readiness and utilization of the associated delivery platform</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$5,720</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,748</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$3,972</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of CYB004 for phase I studies readiness</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$6,200</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$912</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$5,288</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Phenethylamine Preclinical Development Program</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Phenethylamine preclinical development program</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,600</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$378</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,222</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:5.15pt;margin-top:5.35pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nutraceutical Products</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Inventory fulfilment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product deployment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nutraceutical marketing</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$100</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$100</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Technology</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marketing</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,000</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,000</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Development of patient digital therapy platform</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,600</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$414</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,186</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Commence study utilizing Kernel Flow technology</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,825</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$209</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,616</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 6.05pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Other</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Transaction costs (legal fees, audit fees, transfer agent fees and other expenses)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,678</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$3,294</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(1,616)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">General and administrative</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$9,100</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$20,882</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(11,782)</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total use of funds</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$36,061</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$29,110</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$6,951</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:5.6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Unallocated working capital</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(7)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$13,606</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$20,557</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(6,951)</font></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">TOTAL&#58;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$49,667</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$49,667</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr></table></div><div style="margin-bottom:0.12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:96%;text-decoration:underline">Notes&#58;</font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">Certain amounts have been converted from USD to CAD at an exchange rate of 1.26&#58;1.</font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">In light of compelling data related to CYB003, the Company will merge its Psilocybin Program with its deuterated tryptamine CYB003 preclinical program. The Company was previously running the programs in parallel in order to determine the molecules and methods of actions with the most benefits and least amount of drawbacks. This has now evolved into a single program, focusing on both the MDD and AUD indication in the U.S. and UK, to prioritize the advancement of the superior molecule in the most cost effective manner. </font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">On April 6 2021, the Company provided notice to the CCPS of its decision to terminate this arrangement.</font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">The Company no longer anticipates to conduct any business activities in Jamaica. The Company intends to complete future clinical trials in the U.S. and the UK. </font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(5)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">The Company concluded its evaluation of the Product Line and its marketing platform and concluded that it would not proceed with this program in order to prioritize the research and development progression of psychedelic molecules.</font></div><div style="margin-bottom:0.12pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.72pt">General and administrative expenses are comprised of payroll consulting and benefits $5,580, office and administrative $5,693, marketing investor relations $9,609.</font></div><div style="margin-top:0.2pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(7)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">The unallocated working balance will be held in short-term, investment grade, interest-bearing securities, in government securities or in bank accounts at the discretion of management. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The below table describes the differences between the Company&#8217;s anticipated use of proceeds from the Company&#8217;s public offering completed on August 3, 2021 as described in its prospectus supplement dated July 28, 2021 to the Company&#8217;s short form base shelf prospectus dated July 5, 2021 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">July 2021 Prospectus</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), and the Company&#8217;s actual use of proceeds from the offering as at September 30, 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">13</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:1.85pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.896%"><tr><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:39.072%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.103%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.529%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.108%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.115%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:59.8pt;margin-top:5.4pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:102%">Use of Available Funds ($000&#8217;s)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:102%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Previous Disclosure Regarding Use <br>of Proceeds in the July 2021 Prospectus</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Actual Use of Proceeds as at September 30, 2021</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Additional Amounts Allocated at September 30, 2021</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Current Use of Proceeds at September 30, 2021</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="15" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Deuterated Psilocybin Analog Program (formerly the Psilocybin Program)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Development of psilocybin Sublingual Film</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$210</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(210)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIa MDD study completed with data</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$772</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$339</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(433)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIb MDD study completed with data</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,000</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(1,000)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Support of additional phase IIb study sites in Canada and the United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,810</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$379</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(1,431)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of the program for phase I study readiness</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$4,762</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$4,762</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Completion of pre-clinical studies</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Chemistry, Manufacturing and Control development, including the production of clinical materials</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">IND and clinical trial application filings with the US FDA and the MHRA</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="15" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Deuterated Tryptamines Preclinical Programs</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of CYB003 for phase I studies readiness and utilization of the associated delivery platform</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,886</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,198</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(1,688)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of CYB004 for phase I studies readiness</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,777</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$466</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,311</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="15" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Phenethylamine Preclinical Development Program</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Phenethylamine preclinical development program</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,375</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$216</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,159</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="15" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:5.15pt;margin-top:5.35pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Nutraceutical Products</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Inventory fulfilment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(200)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product deployment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(200)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nutraceutical marketing</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$100</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(100)</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="15" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Technology</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marketing</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Development of patient digital therapy platform</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,363</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$204</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,159</font></td></tr><tr><td colspan="6" style="border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Commence study utilizing Kernel Flow technology</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,825</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$209</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,616</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="15" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Other</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Transaction costs (legal fees, audit fees, transfer agent fees and other expenses)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$4,502</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,852</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,650</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">General and administrative</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$18,398</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$10,557</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$7,841</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Total use of funds</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$39,418</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$15,420</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$(500)</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$23,498</font></td></tr><tr><td colspan="6" style="border-bottom:0.25pt solid #000000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-top:5.6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Unallocated working capital</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:700;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$29,550</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$53,547</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$45,470</font></td></tr><tr><td colspan="6" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">TOTAL&#58;</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$68,968</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$68,967</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$68,968</font></td></tr></table></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:96%;text-decoration:underline">Notes&#58;</font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">Certain amounts have been converted from USD to CAD at an exchange rate of 1.27&#58;1.</font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(2)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">In light of compelling data related to CYB003, the Company will merge its Psilocybin Program with its deuterated tryptamine CYB003 preclinical program. The Company was previously running the programs in parallel in order to determine the molecules and methods of actions with the most benefits and least amount of drawbacks. This has now evolved into a single program, focusing on both the MDD and AUD indication in the U.S. and UK, to prioritize the advancement of the superior molecule in the most cost effective manner.  </font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(3)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">The Company has identified its main milestones related to this program, however as a result of the timing of the compelling pre-clinical data and the decision to merge its Psilocybin Program with its deuterated tryptamine CYB003 preclinical program,  it is still working on finalizing its projected spend estimates per milestone. The Company estimates that its spend over the next 12 months for this program will be similar to that previously disclosed for the Psilocybin Program and the deuterated tryptamine CYB003 preclinical program. The Company had listed its estimated spend under the &#34;Progression of the program for phase I study readiness&#34;, however going forward this will be allocated to the appropriate milestone.   </font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(4)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">The Company completed its evaluation of the Product Line and its marketing platform and concluded that it would not proceed with this program in order to prioritize the research and development progression of psychedelic molecules.</font></div><div style="padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(5)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">General and administrative expenses are comprised of payroll consulting and benefits $2,812, office and administrative $3,479, marketing investor relations $4,225.</font></div><div style="margin-top:0.2pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(6)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:14.72pt">The unallocated working balance will be held in short-term, investment grade, interest-bearing securities, in government securities or in bank accounts at the discretion of management. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has negative cash flow from operating activities and has historically incurred net losses. To the extent that the Company has negative operating cash flows in future periods, it may need to deploy a portion of its existing working capital to fund such negative cash flows.  The Company will be required to raise additional funds through the issuance of additional equity securities, through loan financing, or other means, such as through partnerships with other companies and research and development reimbursements.  There is no assurance that additional capital or other </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">types of financing will be available if needed or that these financings will be on terms at least as favourable to the Company as those previously obtained. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The expected use of net proceeds from the Company&#8217;s financing activities represents the Company&#8217;s current intentions based upon its present plans and business condition, which could change in the future as its plans and business conditions evolve. The amounts and timing of the actual use of the net proceeds will depend on multiple factors and there may be circumstances where, for sound business reasons, a reallocation of funds may be necessary in order for the Company to achieve its stated business objectives. The Company may also require additional funds in order to fulfill its expenditure requirements to meet existing and any new business objectives, and the Company expects to either issue additional securities or incur debt to do so. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Certain COVID-19 related risks could delay or slow the implementation of the planned objectives resulting in additional costs for the Company to achieve its business objectives. The extent to which COVID-19 may impact the Company business activities will depend on future developments, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, business disruptions, and the effectiveness of actions taken in Canada, the United States, and other countries to contain and treat the disease. As these events are highly uncertain and the Company cannot determine their potential impact on operations at this time. The COVID-19 pandemic may negatively impact the Company&#8217;s business through disruption of supply and manufacturing, which would influence the amount and timing of planned expenditure. For example, prolonged disruptions in the supply of goods and services relied on by the Company to develop its products or restrictions resulting from government regulations that impact the Company ability to conduct its studies and clinic trials, may adversely impact the Company&#8217;s business. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Update on Stated Milestones and Business Objectives</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The below table is intended to provide an update, as at September 30, 2021, on the Company&#8217;s business objectives and milestones, as disclosed in the July 2021 Prospectus. The July 2021 Prospectus, which is available on SEDAR at </font><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, identified certain business milestones of the Company, which are reproduced below. As of September 30, 2021, the Company provided the status of these milestones, the actual or revised estimated costs and the revised date of expected completion thereof, if applicable. Further, the Company has included additional objectives and milestones that have been identified since the date of the July 2021 Prospectus.  </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The following are &#8220;forward-looking statements&#8221; and as such, there is no guarantee that such milestones will be achieved on the timelines indicated or at all. Forward-looking statements are based on management&#8217;s current expectations and are subject to a number of risks, uncertainties, and assumptions. See &#8220;Forward-Looking Statements&#8221; and &#8220;Risk Factors&#8221;.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">  </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:34.32pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.284%"><tr><td style="width:1.0%"></td><td style="width:20.082%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.231%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.872%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.872%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.320%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.023%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Objective</font></td><td colspan="3" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Milestone</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)(2)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Prior Estimated Cost in July 2021 Prospectus</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Actual or Revised Estimated Cost</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline"> (3)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Actual&#47;Estimated Timeframe for Completion</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)(5)</font></div></td><td colspan="3" style="background-color:#d9d9d9;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Status</font></td></tr><tr style="height:34pt"><td colspan="3" rowspan="6" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt;padding-left:4.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Psilocybin Program</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Chemically develop and synthesize psychedelic APIs</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Q1 2021</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Completed</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(7)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div></td></tr><tr style="height:44pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Development of psilocybin Sublingual Film</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(9)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$210</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;padding-right:-1.31pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Merged</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td></tr><tr style="height:44pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIa MDD study completed with data</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(10)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$772</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$339</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Merged</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td></tr><tr style="height:23pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Phase IIb MDD study completed with data</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(10)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,000</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Merged</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td></tr><tr style="height:45pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Support of additional phase IIb study sites in Canada and the United States</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(10)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,810</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$379</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Merged</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td></tr><tr style="height:45pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Commence microdose study with the Canadian Centre of Psychedelic Science</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(11)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cancelled</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt;padding-left:4.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Deuterated Psilocybin Analog Program</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Progression of the program for phase I study readiness</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$4,762</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(12)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Completion of pre-clinical studies</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(12)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Q1-2022</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Chemistry, manufacturing and control development, including the production of clinical materials</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(12)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Q1-2022</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">IND and clinical trial application filings with the US FDA and the MHRA</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">TBD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(12)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Q2-2022</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr style="height:56pt"><td colspan="3" rowspan="2" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Deuterated Tryptamines Preclinical Programs</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Progression of CYB003 to phase I studies and development of the associated delivery platform</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,886</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,198</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:0.08pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Merged</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td></tr><tr style="height:23pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Progression of CYB004 to phase I studies</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(13)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,777</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,777</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Q2 2022</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(14)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Phenethylamine Preclinical Program</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Progression of phenethylamine candidate to phase I studies</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(14)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,375</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,375</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Q4 2022 &#8211; Q1 2023</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr style="height:12pt"><td colspan="3" rowspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt;padding-left:4.5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nutraceutical Products</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:125%;position:relative;top:-3.15pt;vertical-align:baseline">(15)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Inventory fulfillment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cancelled</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Product deployment</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$200</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cancelled</font></td></tr><tr style="height:12pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Marketing</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$100</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cancelled</font></td></tr><tr style="height:12pt"><td colspan="3" rowspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Technology Programs</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marketing</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(15)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Nil</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Nil</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(24)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cancelled</font></td></tr><tr style="height:23pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Development of patient digital therapy platform</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(16)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,363</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$2,363</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Q4 2021</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr style="height:34pt"><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Sponsorship of studies utilizing Kernel Flow technology</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(17)</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,825</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">$1,825</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Q4 2021 &#8211; Q4 2022</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:125%">In process</font></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">TOTAL</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">16,018</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:125%">16,018</font></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#d9d9d9;border-bottom:1pt solid #000;border-left:0.25pt solid #000000;border-right:1pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:3pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:120%;text-decoration:underline">Notes</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline">&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;There may be circumstances where for sound business reasons the Company reallocates the funds or determines to not proceed with a milestone.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)&#160;&#160;&#160;&#160;Subject to receipt of all necessary approvals, including the academic and scientific organizations with which the Company is working.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3)&#160;&#160;&#160;&#160;Certain amounts have been converted from USD to CAD at an exchange rate of 1.26&#58;1 and all dollar amounts presented in thousands.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(4)&#160;&#160;&#160;&#160;The total expenditure may be incurred by the Company after the relevant quarter that is indicated as the target timeframe for completion.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(5)&#160;&#160;&#160;&#160;Based on a calendar year-end.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(6)&#160;&#160;&#160;&#160;This milestone was previously expected to be completed in Q2 2021, as disclosed in the Listing Statement. However, the milestone was completed earlier than expected, in Q1 2021, due to frustration between Smart Medicines GMP Inc. and Cybin Corp. and this resulted in the termination of the professional services agreement dated June 24, 2020 between Cybin Corp. and Smart Medicines GMP Inc. See &#8220;History of the Company&#8221; in the AIF. With the acquisition of Adelia, the Company secured an alternative to the Deliverables (as defined below) and now has in-house ability to develop molecules which can be scaled to GMP quantities. See &#8220;History of the Company&#8221; in the AIF. There are multiple risk factors regarding the ability to successfully commercially scale a chemically synthesized process to obtain psilocybin and other analogues. The Company expects to work with Adelia to provide psilocybin API for further studies, commercial oral film manufacturing and potential sales to research institutes. See &#8220;Risk Factors&#8221;.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(7)&#160;&#160;&#160;&#160;The  actual cost is lower than previously anticipated, and as previously disclosed in the Listing Statement, and February 2021 Prospectus, as a result of the termination of the professional services agreement dated June 24, 2020 between Cybin Corp. and Smart Medicines GMP Inc. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">History of the Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8221; in the AIF.</font></div><div style="margin-bottom:0.12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%">(8)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:96%;padding-left:25.52pt">In light of compelling data related to CYB003, the Company will merge its Psilocybin Program with its deuterated tryptamine CYB003 preclinical program. The Company was previously running the programs in parallel in order to determine the molecules and methods of actions with the most benefits and least amount of drawbacks. This has now evolved into a single program, focusing on both the MDD and AUD indication in the U.S. and UK, to prioritize the advancement of the superior molecule in the most cost effective manner</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(9)&#160;&#160;&#160;&#160;The material factors and assumptions underlying this forward-looking statement are&#58; (a) drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.  Further, the Company has contracted with IntelGenx to develop a sublingual film formulation of psilocybin. IntelGenx has produced multiple formulation types but the final formulation has not been selected. Successful completion of formulation is necessary before clinical trials supplies can be provided to investigators. The Company is prioritizing its Deuterated Psilocybin Analog Program</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(10)&#160;&#160;&#160;&#160;The Company is currently prioritizing its Deuterated Psilocybin Analog Program and it has merged its efforts from both the Psilocybin Program and the deuterated tryptamine CYB003 preclinical program, focusing on both the MDD and AUD indications in the U.S. and the UK. </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(11)&#160;&#160;&#160;&#160;On April 6, 2021, the Company provided notice to the CCPS of its decision to terminate this arrangement, as a result, the actual cost is lower than previously anticipated, and as previously disclosed in the Listing Statement and February 2021 Prospectus. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">History of the Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8221; in the AIF.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(12)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:21.02pt">The Company has identified its main milestones related to this program, however as a result of the timing of the compelling pre-clinical data and the decision to merge its Psilocybin Program with its deuterated tryptamine CYB003 preclinical program,  it is still working on finalizing its projected spend estimates per milestone. The Company estimates that its spend over the next 12 months for this program will be similar to that previously disclosed for the Psilocybin Program and the deuterated tryptamine CYB003 preclinical program. The Company had listed its estimated spend under the &#34;Progression of the program for phase I study readiness&#34;, however going forward this will be allocated to the appropriate milestone.  </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(13)&#160;&#160;&#160;&#160;Deuterated Tryptamines Preclinical Programs and Phenethylamine Preclinical Program were a new objectives following completion of the Adelia Transaction. These business objectives require clinical trial sites, contract manufacturers, certain scale-ups in operation, etc. which may impact the time frame that these are completed. The proceeds allocated include estimated costs associated with the progression of CYB004 to phase I studies and the progression of phenethylamine candidate to phase I studies. The anticipated timeline for completing this objective is Q2 2022 for CYB004, updated from the prior estimate Q1 2022, which is based on, among others, the following material assumptions&#58; (a) the timely and successful completion of certain preclinical studies including but not limited to&#58; (i) complete the development of stable formulations utilizing these APIs&#59; (ii) the development and validation of analytical methods for such formulations&#59; (iii) the scale up of API production processes beyond laboratory scale will be suitable for entry into animal and human studies&#59; (iv) studies of the stability of such formulations will be suitable for human studies&#59; and (v) the development of Chemistry, Manufacturing and Controls to meet cGMP (as defined below)&#59; and (b) the Company assumes it will enter into agreements with certain third party vendors to complete a range of additional preclinical programs before the final selection of drug candidates for entry into human trials. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Risk Factors</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#8221;.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(14)&#160;&#160;&#160;&#160;The Company anticipates that its phenethylamine program may deliver a drug candidate suitable for entry into phase I clinical studies by Q1 2023. Anticipated timelines and spending regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. This statement is based on the following material factors and assumptions&#58; (a) the Company assumes it will enter into a contract with a licensed third-party vendor to undertake extensive preclinical characterization of target molecules on the Company&#8217;s behalf&#59; (b) the Company anticipates to complete a number of animal models and the completion of ADME profiles&#59; and (c) the Company assumes to enter into third party agreements in order to complete a range of additional preclinical programs including but not limited to dose-ranging studies in multiple animal species, toxicity studies in multiple animal species, genotoxicity studies, teratogenicity studies, along with neuropharmacological, pulmonary, and cardiovascular profiling before the final selection of drug candidates for entry into human trials. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.   </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(15)&#160;&#160;&#160;&#160;The Company completed its evaluation of the Product Line and its marketing platform and concluded that it would not proceed with this program in order to prioritize the research and development progression of psychedelic molecules.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(16)&#160;&#160;&#160;&#160;The proceeds allocated include estimated costs associated with the ongoing development of the patient digital platform. Significant events that must occur to move forward with the proposed business objective include identifying the intended consumer, entering into third party agreements to develop the platform, and identifying and retaining qualified individuals to support the ongoing development and operation of the digital therapy platform. The anticipated timeline for completing this objective is late Q4 2021 which is based on certain material factors or assumptions including, but not limited to&#58; (i) the demand for, and benefits of, the introduction of the digital therapy platform being materially accurate in light of the Company&#8217;s assessment of market and competitive conditions, and (ii) the individuals necessary to develop and operate the digital therapy platform being readily available, and willing to enter into favourable contractual arrangements with the Company in respect thereof. </font></div><div style="margin-bottom:0.12pt;padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(17)&#160;&#160;&#160;&#160;The Kernel Flow study will require the identification and recruitment of investigators and development of acceptable study protocols. See &#8220;Risk Factors&#8221;.</font></div><div style="margin-top:0.2pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The allocation of capital towards the Company&#8217;s ongoing projects and programs is largely dependent on the success, or difficulties encountered, in any particular portion of the process and therefore the time involved in completing it&#59; in turn the time and costs associated with completing each step are highly dependent on the incremental results of each step and the results of other programs, and the Company&#8217;s need to be flexible to rapidly reallocate capital to projects whose results show the greatest potential. As such, it is difficult for the Company to anticipate the timing and costs associated with taking the projects to their next planned stage, and the Company cannot make assurances that the foregoing estimates will prove to be accurate, as actual results and future events could differ materially from those anticipated. Accordingly, investors are cautioned not to put undue reliance on the foregoing estimates. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Moreover, identifying the timing and costs of such projects beyond their immediate next steps go to the core differentiating factors with respect to the Company and its competitors. The disclosure of prospective costs and timing other than as already disclosed by the Company would negatively impact shareholder value and undermine the Company&#8217;s proprietary technology. In keeping with pharmaceutical industry practice, it is the Company&#8217;s policy to disclose these details in conjunction with its financial statements, and to publicly disclose published patent applications, published scientific papers, scientific symposia and the attainment of key milestones only. In addition, the premature disclosure of proprietary data would have a material and adverse effect on the Company&#8217;s patent and other intellectual property rights and could result in the breach of confidentiality obligations.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Major Objectives </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">As of the date of this MD&#38;A, the Company has four major objectives which have not generated revenue. The Company previously had five major objectives, however has made the decision to not progress with the Nutraceutical Products Program. In addition, the Company has merged its Psilocybin Program with its will CYB003 deuterated tryptamine pre-clinical program and will be prioritizing the progression of the Deuterated Psilocybin Analog Program going forward, as it has been identified as a superior molecule.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The following is a description of each such objective, including a description of the Company&#8217;s plan for such objective, the status of the objective relative to the Company&#8217;s plan for such objective and anticipated expenditures to advance the objective to the next stage of the Company&#8217;s plan for the specific objective.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Deuterated Psilocybin Analog Program (formerly the Psilocybin Program)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">While oral psilocybin has been demonstrated to be efficacious, the Company did recognized the challenges and limitations of the molecule and worked on ways to address them, by simultaneously looking at the formulation in two programs and then the molecule itself in another. In light of compelling data regarding the Company&#8217;s novel oral psilocybin analog molecule (CYB003), the Company has determined that it would be leveraging the data obtained through the Psilocybin Program to advance its newly defined Deuterated Psilocybin Analog Program. The Deuterated Psilocybin Analog Program will merge both the MDD and AUD indication into a single program. The Company has determined that this merger of programs would be the most efficient and cost-effective way for the Company to move forward. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">As a result, the Company will be prioritizing the progression of the Deuterated Psilocybin Analog Program going forward, as this has been demonstrated to be the superior molecule. The Company will continue to advance on the previous disclosed psilocybin milestones, in the U.S. and the UK, as it deems them necessary to bring psychedelics to therapeutics. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:107%"> </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Anticipated timelines and spending regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">  </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The result is a reallocation of funds and shifting of priorities to meet the overall objective of the Company&#8217;s spending estimates.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has been investigating the development of short-acting tryptamines with the aim of creating clinical development candidates suitable for phase I clinical research, utilizing (i) the chemical modification of tryptamine derivatives through the selective substitution of hydrogen atoms within the tryptamine molecules with deuterium&#59; and (ii) the combination of such deuterated tryptamine derivative molecules with selected drug delivery methods, including but not limited to oral, inhalation methods, intravenous and intramuscular delivery.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Academic research performed at New York University and John Hopkins University has indicated oral psilocybin to be efficacious in the treatment of mental health disorders, especially MDD, but with significant limitations, specifically&#58; slow onset of action, extended duration of effect, and a variability in response among patients</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:112%;position:relative;top:-3.85pt;vertical-align:baseline">14</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">. The Company&#8217;s CYB001 and CYB002 programs studied proprietary formulations, while the Company&#8217;s CYB003 program explored proprietary analogs with the goal to retain the benefits and address the challenges. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In multi-species pre-clinical studies, the Company&#8217;s deuterated psilocybin analog from its CYB003 program demonstrates&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">a 50% reduction in variability compared to oral psilocybin&#59; which indicates potential for more accurate dosing in patients with MDD and AUD&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">a 50% reduction in dose compared to oral psilocybin&#59; which indicates potential to maintain equivalent efficacy while reducing side effects, such as nausea, in patients with MDD and AUD&#59;  </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">a 50% shorter time to onset when compared to oral psilocybin&#59; which indicates potential for shorter duration of treatment, lower inter-subject variability, better therapeutic control and safety, leading to a better patient experience, with lower cost and scalability&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">nearly double brain penetration when compared to oral psilocybin&#59; which indicates potential for a less variable treatment response, a lower dose therapeutic effect, and reduced patient side effects.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Based on the Company's multi-species pre-clinical studies, the deuterated psilocybin analog in CYB003 has the potential to reduce time and resource burden on patients, providers and payers, with the potential to improve scalability and accessibility from the following conclusions&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">faster onset of action equates to less down time in the clinic before effects begin&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">half the duration of effect translates to shorter clinic days or more patients per day&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">more predictable dose effects create a safer and more effective patient response&#59;</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">lowered peripheral exposure diminishes the risk of nausea&#59; and</font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%;padding-left:14.15pt">better brain penetration suggests lower overall dose needed to achieve clinical efficacy.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">The Company expects the complete its CYB003 pre-clinical studies by the end of Q1-2022</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:107%;position:relative;top:-3.85pt;vertical-align:baseline">15</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">. Simultaneously, the Company will be advancing the CMC development, including the production of clinical materials, and expects this to be completed by Q1-2022</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:107%;position:relative;top:-3.85pt;vertical-align:baseline">16</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline">14</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effects of Psilocybin-Assisted Therapy on Major Depressive Disorder A Randomized Clinical Trial&#58;</font><font style="color:#3051f2;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"> https&#58;&#47;&#47;jamanetwork.com&#47;journals&#47;jamapsychiatry&#47;fullarticle&#47;2772630</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#59; Rapid and sustained symptom reduction following psilocybin treatment for anxiety and depression in patients with life-threatening cancer&#58; a randomized controlled trial&#58; </font><font style="color:#3051f2;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline">https&#58;&#47;&#47;pubmed.ncbi.nlm.nih.gov&#47;27909164&#47;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:112%;position:relative;top:-3.15pt;vertical-align:baseline">15</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:112%">  This statement is based on the following material assumption&#58; drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:112%">Risk Factors&#8221;.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:112%;position:relative;top:-3.15pt;vertical-align:baseline">16</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:112%">  This statement is based on the following material assumption&#58; drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:112%">Risk Factors&#8221;.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Once the pre-clinical studies and CMC development are complete, the Company intends to submit IND and CTA filings with the US FDA and the MHRA, respectively. The Company expects to submit these filings during Q2 2022.&#160;Subsequent to regulatory approval, early-phase clinical trials in MDD and AUD, leveraging the Company's innovative EMBARK</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">TM </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">psychotherapy program, will commence in both the U.S. and the UK. There is no assurance that the aforementioned timeline will be met or that the program will advance to clinical trials, at all. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.  </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As a result of the timing of the compelling pre-clinical data and the decision to merge the Company's Psilocybin Program with its deuterated tryptamine CYB003 preclinical program,  the Company is still working through finalizing its projected spend per milestone. The Company estimates that its spend over the next 12 months for this program will be similar to that previously disclosed for the Psilocybin Program and the deuterated tryptamine CYB003 preclinical program, being $4,762. Anticipated spending regarding drug development is based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Deuterated Tryptamines Preclinical Programs</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is investigating the development of short-acting tryptamines with the aim of creating clinical development candidates suitable for phase I clinical research, utilizing (i) the chemical modification of tryptamine derivatives through the selective substitution of hydrogen atoms within the tryptamine molecules with deuterium&#59; and (ii) the combination of such deuterated tryptamine derivative molecules with selected drug delivery methods, including but not limited to oral, inhalation methods, intravenous and intramuscular delivery.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In order to assess the feasibility and viability of these deuterated tryptamine derivatives entering phase I clinical studies, the Company has and will contract with reputable and licensed third-party vendors to undertake extensive preclinical characterization of target molecules on the Company&#8217;s behalf. These activities include but are not limited to&#58; the synthesis of such molecules as APIs at laboratory scale, the development and optimization of production processes for such APIs. To date, the Company has undertaken sufficient work to enable selection of two deuterated tryptamine candidates and has scaled up production processes to optimize and maximize yields and ensure the drug candidates meet the required purity levels. In vitro proof of principal in animal models has been completed to ensure selection of molecules with optimal anticipated pharmacokinetics best suited for future phase I clinical trials.&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Further preclinical development activities over the next 12 months are anticipated to include the development of stable formulations utilizing such APIs, the development and validation of analytical methods for such formulations, the scale up of API production processes beyond laboratory scale, suitable for entry into animal and human studies, studies of the stability of such formulations suitable for human studies, the development of Chemistry, Manufacturing and Controls to meet current Good Manufacturing Processes (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">cGMP</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). There is no assurance that the aforementioned timelines will be met or that the studies will advance to clinical trials, at all.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Further the Company&#8217;s third party vendors will be responsible for completing a range of additional preclinical programs including but not limited to dose-ranging studies in multiple animal species, toxicity studies in multiple animal species, genotoxicity studies, teratogenicity studies, along with neuropharmacological, pulmonary, and cardiovascular profiling, before the final selection of drug candidates for entry into human trials. The Company intends to complete these studies, and collect further relevant safety and toxicity data, prior to the filing for an IND application with FDA, a CTA with Health Canada, or other similar application with regulatory bodies in other jurisdictions. There is no assurance that the aforementioned timelines will be met or that the studies will advance to clinical trials, at all. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">While the Company was previously focusing on two deuterated tryptamine candidates, CYB003 and CYB004, this program is now focused on one candidate, CYB004. The Company has a newly defined program, the Deuterated </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">Psilocybin Analog Program, which merges the initiatives of the Psilocybin Program and the deuterated tryptamine CYB003 preclinical program into one single program (Deuterated Psilocybin Analog Program). The work performed to date related to CYB003 in this program has been instrumental in defining the new program, as described above.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company anticipates that its CYB004 program may deliver a drug candidate suitable for entry into phase I clinical studies by Q2 2022, updated from the prior estimate of Q1 2022</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">17</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. The Company expects to spend $3,250 to advance preclinical development of CYB004 by Q1 2022, a decrease in the previous estimate of $6,200. The change is not a reflection of a decrease in spend to accomplish the milestone, but rather a decrease in the amount that the Company expects to incur in the next twelve months. The Company cannot at this time estimate the cost of bringing CYB004 to market as much of the associated costs depend on the outcomes of the phase I and phase II clinical trials. Further, there is no assurance that the aforementioned timelines will be met or that the CYB004 program will advance to clinical trials, at all. Anticipated spending regarding drug development is based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.  The result is revised spending estimates.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has started research on DMT like molecules. This is a tryptamine that is being researched and modified for the potential use in psychiatric patients by oral administration. Research is ongoing to identify the best development candidate and is subject to receipt of all necessary approvals.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Phenethylamine Program</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is investigating the development of phenethylamine derivatives with the aim of creating clinical development candidates suitable for phase I clinical research, utilizing (i) the chemical modification of phenethylamine derivatives&#59; and (ii) the combination of such phenethylamine derivative molecules with selected drug delivery methods, including but not limited to sublingual delivery, orally dissolving tablets, inhalation methods, intravenous and intramuscular delivery. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Work on the synthesis and optimization of these molecules has only recently begun at a licensed</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">third-party vendor. In order to assess the feasibility and viability of these phenethylamine derivatives entering phase I clinical studies, the Company has and will contract with reputable and licensed third-party vendors to undertake extensive preclinical characterization of target molecules on the Company&#8217;s behalf. These activities include, but are not limited to&#58; the synthesis of such molecules as API at laboratory scale, the development and optimization of production processes for such APIs, the development of stable formulations utilizing these APIs, the development and validation of analytical methods for such formulations, the scale up of API production processes beyond laboratory scale, suitable for entry into animal and human studies, studies of the stability of such formulations suitable for human studies, the development of Chemistry, Manufacturing and Controls to meet current cGMP.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition, utilizing the expertise of selected third parties, the Company intends to oversee the study of the pharmacokinetic profiles of its formulations in a number of animal models and the completion of Absorption, Distribution, Metabolism, and Excretion profiles. Further, the Company&#8217;s</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">licensed</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">third party vendors will be responsible for completing a range of additional preclinical programs including but not limited to dos-ranging studies in multiple animal species, toxicity studies in multiple animal species, genotoxicity studies, teratogenicity studies, along with neuropharmacological, pulmonary, and cardiovascular profiling, before the final selection of drug candidates for entry into human trials.</font></div><div style="text-align:justify"><font><br></font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">17</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The anticipated timeline for completing this objective is Q2 2022 for CYB004, updated from the prior estimate Q1 2022, which is based on, among others, the following material assumptions&#58; (a) the timely and successful completion of certain preclinical studies including but not limited to&#58; (i) complete the development of stable formulations utilizing these APIs&#59; (ii) the development and validation of analytical methods for such formulations&#59; (iii) the scale up of API production processes beyond laboratory scale will be suitable for entry into animal and human studies&#59; (iv) studies of the stability of such formulations will be suitable for human studies&#59; and (v) the development of Chemistry, Manufacturing and Controls to meet cGMP (as defined below)&#59; and (b) the Company assumes it will enter into agreements with certain third party vendors to complete a range of additional preclinical programs before the final selection of drug candidates for entry into human trials. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. See </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">&#8220;Risk Factors&#8221;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">21</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to complete these studies, and collect further relevant safety and toxicity data, prior to the filing for an IND application with the FDA, a CTA with Health Canada, or other similar application with regulatory bodies in other jurisdictions. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company anticipates that its phenethylamine program may deliver a drug candidate suitable for entry into phase I clinical studies by Q1 2023. The Company expects to spend $2,600 to complete preclinical development of a phenethylamine drug candidate by the end of calendar 2022. The Company cannot at this time estimate the cost of bringing a phenethylamine drug candidate to market as much of the associated costs depend on the outcomes of the phase I and phase II clinical trials. Further, there is no assurance that the aforementioned timelines will be met or that such studies will advance to clinical trials, at all. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date.  The result is revised spending estimates.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Nutraceutical Products</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Subsequent to quarter end, the Company determined that it would not proceed with the Product Line in order to focus its efforts on the research and development progression of psychedelic molecules. As a result, the Company no longer expects to complete its anticipated milestone and is expecting to spend NIL on this program.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Technology Programs</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has worked on a number of fronts to establish an e-Commerce platform to support the education, sales and marketing of potential consumer and prescription mental wellness products, including but not limited to its line of nutraceutical products. The Company has undertaken commissioned market research activities to evaluate the market potential and the steps necessary to establish such a platform, along with commercial discussions with a number of parties that could assist the Company in building and accelerating its path to market. With the decision to no longer pursue with the nutraceutical business segment, the spend has been reduced to NIL. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has begun work on the creation of a Digital Platform. The Digital Platform is envisioned to help patients undergoing psychedelic therapies to memorialize the learning from their treatment sessions and to assist with the integration of such learnings into the patient&#8217;s psychotherapy program. Activities have been undertaken to establish the design of a Minimum Viable Product and to identify the necessary key modules and components. Following this first step, the Company intends to undertake activities to support the buildout and preparation for launch of the Digital Platform by the end of calendar 2021. The Company expects to spend $2,600 to complete the establishment and launch of the Digital Platform by the end of calendar 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company recently announced an agreement with Kernel that will enable the Company to use Kernel Flow devices to potentially measure neural activity during psychedelic therapy. While the Company previously announced that it delivery was expected in Q2 2021 and studies would commence in the second half of 2021, the Company has since decided to focus on sponsoring studies in the near term.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On June 1, 2021, the Company announced its sponsorship of Kernel&#8217;s feasibility study of its Kernel Flow technology to measure Ketamine&#8217;s psychedelic effect on cerebral cortex hemodynamics. The Company expects to spend $1,825 to undertake clinical studies utilizing these devices by the end of calendar 2022. There is no guarantee that the use of such devices in clinical studies will result in a commercially viable product and there is no assurance that the aforementioned timelines will be met or that such studies will advance to clinical trials, at all.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The material factors or assumptions used to develop the estimated costs disclosed above are included in the &#8220;Cautionary Note Regarding Forward-Looking Information&#8221; section above. The actual amount that the Company spends in connection with each of the intended uses of proceeds will depend on a number of factors, including those listed under &#34;Risk Factors&#34; in this MD&#38;A or unforeseen events. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Other than as described in the AIF and herein, to the knowledge of management, there are no other particular significant events or milestones that must occur for the Company&#8217;s initial business objectives in the next 12 months to be accomplished. However, there is no guarantee that the Company will meet its business objectives or milestones </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">22</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">described above within the specific time periods, within the estimated costs or at all. The Company may, for sound business reasons, reallocate its time or capital resources, or both, differently than as described above.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Intellectual Property</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Cybin has title to eleven provisional patent applications, and four PCT applications including claims directed to compositions of matter and methods of use in support of its research and development and pre-clinical trial programs. </font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.753%"><tr><td style="width:0.1%"></td><td style="width:2.386%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.003%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.003%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:44.591%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#bfbfbf;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#bfbfbf;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Patent Application Number</font></td><td colspan="3" style="background-color:#bfbfbf;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Jurisdiction of Filing</font></td><td colspan="3" style="background-color:#bfbfbf;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Status</font></td><td colspan="3" style="background-color:#bfbfbf;border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Description</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">1</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;114,738</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Deuterated Tryptamine Derivatives (Alfa-d2) and Methods of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">2</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;114,769</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Treatment Protocols for Inhalation Delivery of Psychedelic Medications</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">3</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;131,974</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Deuterated and Fluorinated Phenethylamine Derivatives And Methods Of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">4</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;137,250</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Deuterated N-Substituted Phenethylamine Serotonin 5-HT2A-Selective Agonists and Methods of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">5</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;157,118</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Deuterated Tryptamine Derivatives And Methods Of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">6</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;162,749</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Salt forms of psilocin</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">7</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;189,449</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Canada</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Formulations of  psilocybin</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">8</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">PCT&#47;IB2021&#47;054340</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Canada</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Tryptamine Derivative Compounds and Methods</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">9</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;219,880</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Ireland</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Integrated Data Collection Devices for Use in Psychotherapy </font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">10</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">17&#47;394,038</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Deuterated Tryptamines and Methods of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">11</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">PCT&#47;EP2021&#47;072898</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Ireland</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Phenethlamine Derivatives, Compositions, and Methods of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">12</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">PCT&#47;EP2021&#47;072896</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Ireland</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Therapeutic Phenethylamine Compositions and Methods of Use</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">13</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;241,891</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Combination Drug Therapies</font></td></tr><tr><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">14</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">PCT&#47;EP2021&#47;077057</font></div></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Ireland</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Treatment Protocols for Inhalation Delivery of Psychedelic Medications</font></td></tr><tr><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">15</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">63&#47;276,117</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">United States</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Pending</font></td><td colspan="3" style="border-bottom:0.25pt solid #000000;border-left:0.25pt solid #000000;border-right:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Psilocybin Analog Formulations and Methods of Use</font></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The provisional patent applications cover a wide range of novel psychedelic compounds from different classes including targeted structural modifications to improve the drugs pharmacokinetic characteristics and safety profiles without altering their receptor binding. Novel drug delivery platform claims are expected to enable administration of the psychedelic drugs with faster onset of action, higher bioavailability by way of bypassing liver metabolism and are expect to offer more control for better patient experience and optimized therapeutic outcomes.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Cybin has also filed applications for registration of twenty trademarks, including Changing Minds&#8482;, Cybin&#8482;, Cybin Therapeutics&#8482;, Embark&#8482;, It&#8217;s not magic. It&#8217;s mushrooms&#8482;, It's not magic, its science&#8482;, Journey&#8482;, Mushroom &#38; Friends&#8482;, Psilotonin&#8482; and Psychedelics to Therapeutics&#8482;. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s mission to discover, develop and deploy psychedelic inspired medicines encompasses the research and development of potential new and improved psychedelic inspired medicines ranging from proprietary psychedelic compounds for use as API, specific formulations thereof, and specific uses for compounds and formulations. As the Company generates new data it will continue to file or acquire additional patent applications throughout the Company&#8217;s development program.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On July 8, 2021, the Company announced its scaling up of its European operations though its recently formed wholly owned Ireland subsidiary, Cybin Ireland. In connection with the formation of Cybin Ireland, the Company transferred its intellectual property assets to this entity.</font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">23</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Regulatory Framework and Licensing Regime </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Canada</font></div><div style="margin-bottom:0.12pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In Canada, oversight of healthcare is divided between the federal and provincial governments. The federal government is responsible for regulating, among other things, the approval, import, sale, and marketing of drugs such as psilocybin and other psychedelic substances, whether natural or novel. The provincial&#47;territorial level of government has authority over the delivery of health care services, including regulating health facilities, administering health insurance plans such as the Ontario Health Insurance Plan, distributing prescription drugs within the province, and regulating health professionals such as doctors, psychologists, psychotherapists and nurse practitioners. Regulation is generally overseen by various colleges formed for that purpose, such as the College of Physicians and Surgeons of Ontario.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Certain psychoactive compounds, such as psilocybin, are considered controlled substances under Schedule III of the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Controlled Drugs and Substances Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (Canada) (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CDSA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;).  In order to conduct any scientific research, including pre-clinical and clinical trials, using psychoactive compounds listed as controlled substances under the CDSA, an exemption under Section 56 of the CDSA (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Section 56 Exemption</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) is required. This exemption allows the holder to possess and use the controlled substance without being subject to the restrictions set out in the CDSA. The Company has not applied for a Section 56 Exemption from Health Canada.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The possession, sale or distribution of controlled substances is prohibited unless specifically permitted by the government. A party may seek government approval for a Section 56 Exemption to allow for the possession, transport or production of a controlled substance for medical or scientific purposes. Products that contain a controlled substance such as psilocybin cannot be made, transported or sold without proper authorization from the government. A party can apply for a Dealer&#8217;s Licence under the Food and Drug Regulations (Part J). In order to qualify as a licensed dealer, a party must meet all regulatory requirements mandated by the regulations including having compliant facilities, compliant materials and staff that meet the qualifications under the regulations of a senior person in charge and a qualified person in charge. Assuming compliance with all relevant laws (</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Controlled Drugs and Substances Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Food and Drugs Regulations</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">) and subject to any restrictions placed on the licence by Health Canada, an entity with a Dealer&#8217;s Licence may produce, assemble, sell, provide, transport, send, deliver, import or export a restricted drug (as listed in Part J in the Food and Drugs Regulations &#8211; which includes psilocybin and psilocin) (see s. J.01.009 (1) of the Food and Drug Regulations).</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to sponsor and work with licensed third parties to conduct any clinical trials and research and does not handle controlled substances. If the Company were to conduct this work without the reliance on third parties, it would need to obtain additional licences and approvals described above.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">United States </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">The FDA and other federal, state, local and foreign regulatory agencies impose substantial requirements upon the clinical development, approval, labeling, manufacture, marketing and distribution of drug products. These agencies regulate, among other things, research and development activities and the testing, approval, manufacture, quality control, safety, effectiveness, labeling, storage, record keeping, advertising and promotion of any prescription drug product candidates or commercial products. The regulatory approval process is generally lengthy and expensive, with no guarantee of a positive result. Moreover, failure to comply with applicable FDA or other requirements may result in civil or criminal penalties, recall or seizure of products, injunctive relief including partial or total suspension of production, or withdrawal of a product from the market. The Company intends to file an IND application related to Deuterated Psilocybin Analog Program upon completion of its pre-clinical studies and CMC development</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:107%;position:relative;top:-3.85pt;vertical-align:baseline">18</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">. &#160; Anticipated timelines related to regulatory filings are based on reasonable assumptions informed by current knowledge and information available to the Company. </font></div><div style="margin-bottom:0.12pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Psilocybin, psilocin, dimethyltryptamine, and 5-Methoxy-N-N-dimethyltryptamine are strictly controlled under the Controlled Substances Act (21 U.S.C. &#167; 811) (the &#8220;CSA&#8221;) as Schedule I substances. Schedule I substances by definition have no currently accepted medical use in the United States, a lack of accepted safety for use under medical </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">18</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> This statement is based on the following material assumption&#58; drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Risk Factors&#8221;.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">supervision, and a high potential for abuse.&#160;Schedule I and II drugs are subject to the strictest controls under the CSA, including manufacturing and procurement quotas, security requirements and criteria for importation. Anyone wishing to conduct research on substances listed in Schedule I under the CSA must register with the U.S. Drug Enforcement Administration (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">DEA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), and obtain DEA approval of the research proposal.&#160; A majority of state laws in the United States also classify psilocybin and psilocin as Schedule I controlled substances. For any product containing psilocybin to be available for commercial marketing in the United States, psilocybin and psilocin must be rescheduled, or the product itself must be scheduled, by the DEA to Schedule II, III, IV or V. Scheduling determinations by the DEA are dependent on FDA approval of a substance or a specific formulation of a substance.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Jamaica </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company previously disclosed supporting clinical trials in Jamaica. Due to the new Deuterated Psilocybin Analog Program, the Company no longer anticipates to conduct any business activities in Jamaica. The Company intends to complete future clinical trials in the U.S. and the UK.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">United Kingdom </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In the UK, there are two main &#8220;layers&#8221; of regulation with which products containing controlled substances must comply. These are&#58; (i) controlled drugs legislation, which applies to all products irrespective of the type of product, and (ii) the regulatory frameworks applicable to a specific category of products, in this case, pharmaceuticals and food&#47;food supplements.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The main UK controlled drugs legislation is the Misuse of Drugs Act 1971 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MDA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and the Misuse of Drugs Regulations 2001 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MDR</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), each as amended. The MDA sets out the penalties for unlawful production, possession and supply of controlled drugs based on three classes of risk (A, B and C). The MDR sets out the permitted uses of controlled drugs based on which Schedule (1 to 5) they fall within.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In the United Kingdom, &#8220;Fungus (of any kind) which contains psilocin or an ester of psilocin&#8221; is controlled as a Class A drug under the MDA and Schedule 1 drug under the MDR. As psilocybin is a phosphate ester of psilocin, even if it is isolated from psilocin, it will still be treated as a Class A drug under the MDA and as a Schedule 1 drug under the MDR.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In the United Kingdom, Class A drugs are deemed to be the most dangerous, and so carry the harshest punishments for unlawful manufacture, production, possession and supply. Schedule 1 drugs can only be lawfully manufactured, produced, possessed and supplied under a controlled drugs domestic licence issued by the UK Home Office. While exemptions do exist, none are applicable to the API.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to file an clinical trial application with the MHRA related to the Deuterated Psilocybin Analog Program upon completion of its pre-clinical studies and CMC development</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">19</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. Anticipated timelines related to regulatory filings are based on reasonable assumptions informed by current knowledge and information available to the Company.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Licensing Requirements </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company obtains API from the pharmaceutical ingredient provider who is based in the United States. The API itself is expected to be manufactured and packaged in FDA-registered facilities in the United Kingdom. The API is expected to be sent directly to the Company&#8217;s partners for research and development purposes in the United States, Canada and the UK.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Although the facilities in the UK are currently FDA-registered, this would not be sufficient to ensure the existence of valid marketing activities at this site. As mentioned above, in order to produce, possess and supply the API, the UK-based facility must also hold a domestic licence issued by the Home Office covering the manufacture, production, </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">19</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> This statement is based on the following material assumption&#58; drug development involves long lead times, is very expensive and involves many variables of uncertainty. Anticipated timelines regarding drug development are based on reasonable assumptions informed by current knowledge and information available to the Company. As of the date hereof, it has not yet completed the aforementioned items. Such statements are informed by, among other things, regulatory guidelines for developing a drug with safety studies, proof of concept studies, and pivotal studies for new drug application submission and approval, and assumes the success of implementation and results of such studies on timelines indicated as possible by such guidelines, other industry examples, and the Company&#8217;s development efforts to date. See &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Risk Factors&#8221;.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">possession and supply of a controlled substance, as well as an export licence for each API shipment. The export application must include details of the importer and any import licence required by the local authorities in the United States. Moreover, as set out below in more detail under the heading &#8220;Pharmaceutical Products&#8221;, depending on how the API is developed, certain authorizations and licences from the MHRA may be required to authorize some of the activities carried on at the UK-based facilities in relation to the API.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">All premises that are licensed in connection with the possession, supply, manufacture and&#47;or production of controlled drugs are required to adhere to detailed security standards.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">20</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Typically, when controlled drugs are being transported between licensees, responsibility for their security remains with the owner and does not transfer to either the courier or the customer until the drugs arrive at their destination and are signed for. However, where a third party is involved in the transit and&#47;or storage of controlled drugs, even if they are not the legal owners, this party also carries responsibility for their security by virtue of being &#8216;in possession&#8217; of them. Under the Home Office guidance, each organization involved in the movement of controlled drugs should have a standard operating procedure covering their responsibilities, record keeping, reconciliation and reporting of thefts&#47;losses.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">21</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Pharmaceutical Products</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Products are regulated as &#8220;medicinal products&#8221; under UK legislation (the Human Medicines Regulations 2012) if (i) they are presented as a substance or combination of substances having properties for treating or preventing disease in human beings having a medicinal effect (e.g., in marketing claims) or (ii) have a medicinal effect (i.e., even if no claims are made about the product).</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">A product has a &#8220;medicinal effect&#8221; if it has a pharmacological, immunological or metabolic effect on the body that restores, corrects or modifies a physiological function. Whether this is the case for a specific product will depend on factors such as the concentration of the psilocybin&#47;psilocin and the mode of action of any psilocybin&#47;psilocin absorbed in the body.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If a product is a medicinal product, a marketing authorization for the product is required before the product can be placed on the market in the UK. The process for obtaining a marketing authorization involves submitting pre-clinical and clinical data as well as quality and manufacturing information in the form of a common technical document. In addition to a marketing authorization for the product itself, companies carrying out activities involving medicinal products, such as manufacturing, distribution and wholesaling, need to meet defined standards (Good Manufacturing Practices (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">GMP</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;)) and&#47;or Good Distribution Practice (&#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">GDP</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#34;) and to hold a related licence from the MHRA.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As mentioned above, once the API has been made in the UK, it is expected to be sent directly to the Company&#8217;s partners for research and development purposes in the UK, United States or Canada. How the API is subsequently processed will determine the licences that the UK-based facility must hold. In particular&#58;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">if the API is just one &#8216;ingredient&#8217; of the investigational medicinal product (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">IMP</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) which is used in the clinical trial then the UK-based facility must register with the MHRA and provide the MHRA with 60 days&#8217; notice of the intended start of manufacture&#47;distribution of the API, and comply with GMP and GDP for active substances&#59; and</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">conversely, if the API will itself constitute the IMP, the manufacturer must hold a Manufacturer&#8217;s Authorizations for IMPs licence (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MIA(IMP</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">)&#8221;). In this scenario, an MIA(IMP) would be required regardless of whether the IMP is for use in the UK, another EEA Member State or a third country (such as the United States or Canada).</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Some products fall on the borderline between medicines and another category such as medical devices, cosmetics or food supplements. The regulatory status of the product will be determined by i) the actual effect of the product on the body&#59; and ii) any claims made about the effect of the product.&#160;Where a product is potentially both a medicinal product </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">20</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">  Home Office guidance&#59; Security guidance for all existing or prospective Home Office Controlled Drug Licensees and&#47;or Precursor Chemical Licensees or Registrants&#59; 2020</font><font style="color:#3051f2;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline">&#59; https&#58;&#47;&#47;assets.publishing.service.gov.uk&#47;government&#47;uploads&#47;system&#47;uploads&#47;attachment_data&#47;file&#47;857591&#47;Security_Guidance_for_all_Businesses_and_Other_Organisations_v1.4_Jan_2020.pdf.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">21</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">  Home Office guidance&#59; Guidelines for Standard Operating Procedures (SOPs)&#59;</font><font style="color:#3051f2;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline"> https&#58;&#47;&#47;assets.publishing.service.gov.uk&#47;government&#47;uploads&#47;system&#47;uploads&#47;attachment_data&#47;file&#47;480572&#47;StandardOpProcedure.pdf.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">and another category of product, the legal position in the UK and EU is that it will be regulated as a medicinal product.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Research and Development</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is focused on development of psychedelic medicines and other products, through research and development of novel chemical compounds and delivery mechanisms and study of such compounds in clinical environments around the world. The Company anticipates growing its pipeline of psychedelic pharmaceutical products inspired medicines through its internal research, development, proprietary discovery programs, mergers and acquisitions, joint ventures and collaborative development agreements. For the time being, the Company maintains intellectual property generated by its R&#38;D programs through patent filings and as trade secrets. The Company anticipates that as these programs mature more patent applications will be filed and more details about these programs will be disclosed at such time.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As a result of COVID-19, certain institutions have implemented certain facility procedures and are utilizing technology in an effort to mitigate the effects of the pandemic, specifically by moving patient interactions to remote status wherever possible. The Company cannot guarantee that the continued effects of COVID-19 will not impact patient recruiting for clinical trials and institutional processes at institutions involved in pharmaceutical product development. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Psychedelics are a class of drug whose primary action is to trigger psychedelic experiences via serotonin receptor agonism, causing thought, visual and auditory changes, and altered state of consciousness. Major psychedelic drugs include mescaline, LSD, psilocybin, and DMT. Psilocybin is a naturally occurring psychedelic prodrug compound produced by more than 200 species of mushrooms, collectively known as psilocybin mushrooms. The most potent are members of the genus </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Psilocybe</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, such as </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">P. azurescens</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">P. semilanceata</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, and </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">P. cyanescens</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, but psilocybin has also been isolated from about a dozen other genera. As a prodrug, psilocybin is quickly converted by the body to psilocin, which has mind-altering effects.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The pharmacokinetics, pharmacology and human metabolism of psilocybin are well known and well characterized. In conjunction with psychotherapy, psilocybin has been utilized broadly in phase II clinical trials.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Psilocybin found in certain species of mushrooms is a non-habit forming naturally occurring psychedelic compound. Once ingested, psilocybin is rapidly metabolized to psilocin, which then acts on serotonin receptors in the brain. The Company intends to research and sponsor clinical trials on the efficacy of chemically synthesized psilocybin as it relates to the following indications</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">22</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#58; </font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">mental health (depression, PTSD, anxiety and attention deficit hyperactivity disorder)&#59; and</font></div><div style="padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:32.15pt">addiction (alcohol, drugs and cigarettes).</font></div><div style="padding-left:72pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:107%">Cybin has commenced research and development on the delivery of synthetic psilocybin and other psychedelics through mechanisms such as sublingual film delivery, ODT and via inhalation. </font></div><div style="margin-bottom:0.12pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Research and development is led by the Company&#8217;s North American Chief Research and Development Officer, Dr. Michael G. Palfreyman. Dr. Palfreyman, who holds a PhD in Neuroscience and Neuropharmacology from the University of Nottingham, United Kingdom, is an accomplished pharmaceutical industry veteran responsible for more than 30 successful clinical programs.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has also retained Stosic and Associates, a leading government relations firm, to work with high level pharmaceutical, institutional and government relations individuals to progress the acceptance of psychedelics in Canada for medical use.</font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">22</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">  Certain statements regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds have not been evaluated by Health Canada, the FDA or other similar regulatory authorities, nor has the efficacy of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds been confirmed by approved research. There is no assurance that psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds can be used to diagnose, treat, cure or prevent any disease or condition and robust scientific research and clinical trials are needed. There are multiple risk factors regarding the ability to successfully commercially scale a chemically synthesized process to obtain psilocybin and other analogues.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s research and development must be conducted in strict compliance with the regulations of federal, state, local and regulatory agencies in Canada, the United States, and the UK, and the equivalent regulatory agencies in the other jurisdictions in which the Company operates. These regulatory authorities regulate, among other things, the research, manufacture, promotion and distribution of drugs in specific jurisdictions under applicable laws and regulations. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Canada</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The process required before a prescription drug product candidate may be marketed in Canada generally involves&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.15pt">Chemical and Biological Research &#8211;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> Laboratory tests are carried out on tissue cultures and with a variety of small animals to determine the effects of the drug. If the results are promising, the manufacturer will proceed to the next step of development.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.15pt">Pre-Clinical Development &#8211; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Animals are given the drug in varying amounts over differing periods of time. If it can be shown that the drug causes no serious or unexpected harm at the doses required to have an effect, the manufacturer will proceed to clinical trials.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.15pt">Clinical Trials &#8211; Phase I - </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The first administration in humans is to test if people can tolerate the drug. If this testing is to take place in Canada, the manufacturer must prepare a clinical trial application for the Therapeutic Products Directorate of Health Canada (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">TPD</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). This includes the results of the first two steps and a proposal for testing in humans. If the information is sufficient, the Health Products and Food Branch of Health Canada (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">HPFB</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) grants permission to start testing the drug, generally first on healthy volunteers.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.15pt">Clinical Trials &#8211; Phase II - </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Phase II trials are carried out on people with the target condition, who are usually otherwise healthy, with no other medical condition. Trials carried out in Canada must be approved by the TPD. In phase II, the objective of the trials is to continue to gather information on the safety of the drug and begin to determine its effectiveness.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.15pt">Clinical Trials &#8211; Phase III - </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If the results from phase II show promise, the manufacturer provides an updated clinical trial application to the TPD for phase III trials. The objectives of phase III include determining whether the drug can be shown to be effective, and have an acceptable side effect profile, in people who better represent the general population. Further information will also be obtained on how the drug should be used, the optimal dosage regimen and the possible side effects.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.15pt">New Drug Submission &#8211; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If the results from phase III continue to be favourable, the drug manufacturer can submit a new drug submission (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NDS</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) to the TPD. A drug manufacturer can submit an NDS regardless of whether the clinical trials were carried out in Canada. The TPD reviews all the information gathered during the development of the drug and assesses the risks and benefits of the drug. If it is judged that, for a specific patient population and specific conditions of use, the benefits of the drug outweigh the known risks, the HPFB will approve the drug by issuing a notice of compliance.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:125%;text-decoration:underline">United States</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Because psilocybin and psilocin are listed as Schedule I substances under the CSA, for any product containing psilocybin to be available for commercial marketing in the United States, psilocybin and psilocin must be rescheduled, or the product itself must be scheduled, by the DEA to Schedule II, III, IV or V.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The process required before a prescription drug product candidate may be marketed in the United States generally involves&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">completion of extensive non-clinical laboratory tests, animal studies and formulation studies, all performed in accordance with the FDA&#8217;s Good Laboratory, Good Clincal and&#47;or Manufacturing Practice regulations&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">submission to the FDA of an IND, which must become effective before human clinical trials may begin&#59; </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">approval by an institutional review board or independent ethics committee at each clinical trial site before each trial may be initiated&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">for some products, performance of adequate and well-controlled human clinical trials in accordance with the FDA&#8217;s regulations, including Good Clinical Practices, to establish the safety and efficacy of the prescription drug product candidate for each proposed indication&#59;</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">submission to the FDA of a New Drug Application (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">NDA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;)&#59; </font></div><div style="margin-bottom:0.12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">satisfactory completion of one or more FDA pre-approval inspections of the manufacturing facility or facilities where the drug will be produced to assess compliance with cGMP requirements to assure that the facilities, methods and controls are adequate to preserve the drug&#8217;s identity, strength, quality, and purity&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">FDA review and approval of the NDA prior to any commercial marketing, sale or shipment of the drug.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The testing and approval process requires substantial time, effort and financial resources, and the Company cannot be certain that any approvals for its prescription drug product candidates will be granted on a timely basis, if at all.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Non-clinical tests include laboratory evaluations of product chemistry, formulation and stability, as well as studies to evaluate toxicity in animals and other animal studies. The results of non-clinical tests, together with manufacturing information and analytical data, are submitted as part of an IND to the FDA. Some non-clinical testing may continue even after an IND is submitted. The IND also includes one or more protocols for the initial clinical trial or trials and an investigator&#8217;s brochure. An IND automatically becomes effective 30 days after receipt by the FDA, unless the FDA, within the 30-day time period, raises concerns or questions relating to the proposed clinical trials as outlined in the IND and places the clinical trial on a clinical hold. In such cases, the IND sponsor and the FDA must resolve any outstanding concerns or questions before any clinical trials can begin. Clinical trial holds also may be imposed at any time before or during studies due to safety concerns or non-compliance with regulatory requirements. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">An independent institutional review board, at each of the clinical centers proposing to conduct the clinical trial, must review and approve the plan for any clinical trial before it commences at that center. An independent institutional review board considers, among other things, whether the risks to individuals participating in the trials are minimized and are reasonable in relation to anticipated benefits. The independent institutional review board also approves the consent form signed by the trial participants and must monitor the study until completed.&#160;The FDA, the independent institutional review board, or the sponsor may suspend or discontinue a clinical trial at any time on various grounds, including a finding that the subjects are being exposed to an unacceptable health risk. There also are requirements governing the reporting of ongoing clinical trials and completed clinical trials to public registries. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The FDA offers a number of regulatory mechanisms that provide expedited or accelerated approval procedures for selected drugs and indications which are designed to address unmet medical needs in the treatment of serious or life-threatening diseases or conditions. These include programs such as Breakthrough Therapy designations, Fast Track designations, Priority Review and Accelerated Approval, which the Company may need to rely upon in order to receive timely approval or to be competitive.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company may plan to seek orphan drug designation for certain indications qualified for such designation. The U.S., E.U. and other jurisdictions may grant orphan drug designation to drugs intended to treat a &#8220;rare disease or condition,&#8221; which, in the U.S., is generally a disease or condition that affects fewer than 200,000 individuals in the United States, or 200,000 or more individuals in the United States and for which there is no reasonable expectation that the cost of developing and making a drug available in the United States for this type of disease or condition will be recovered from sales of the product.&#160;In the E.U., orphan drug designation can be granted if&#58; the disease is life threatening or chronically debilitating and affects no more than 50 in 100,000 persons in the E.U.&#59; without incentive it is unlikely that the drug would generate sufficient return to justify the necessary investment&#59; and no satisfactory method of treatment for the condition exists or, if it does, the new drug will provide a significant benefit to those affected by the condition. Orphan drug designation must be requested before submitting an NDA. If a product that has an orphan drug designation subsequently receives the first regulatory approval for the indication for which it has such designation, the product is entitled to orphan exclusivity, meaning that the applicable regulatory authority may not approve any other applications to market the same drug for the same indication, except in very limited circumstances, for a period of seven years in the U.S. and 10 years in the E.U. Orphan drug designation does not prevent competitors from developing or marketing different drugs for the same indication or the same drug for different indications. After orphan drug designation is granted, the identity of the therapeutic agent and its potential orphan use are publicly disclosed. Orphan drug designation does not convey an advantage in, or shorten the duration of, the development, review and approval process. However, this designation provides an exemption from marketing and authorization fees.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Drugs manufactured or distributed pursuant to FDA approvals are subject to continuing regulation by the FDA, including, among other things, requirements relating to recordkeeping, periodic reporting, product sampling and distribution, reporting of adverse experiences with the product, and complying with promotion and advertising requirements. The FDA may impose a number of post-approval requirements as a condition of approval of an NDA. For example, the FDA may require post-market testing, including phase IV clinical trials, and surveillance to further </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">29</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">assess and monitor the product&#8217;s safety and effectiveness after commercialization. In addition, drug manufacturers and their subcontractors involved in the manufacture and distribution of approved drugs are required to register their establishments with the FDA and certain state agencies and are subject to periodic unannounced inspections by the FDA and certain state agencies for compliance with ongoing regulatory requirements, including current Good Manufacturing Practices, which impose certain procedural and documentation requirements. Failure to comply with statutory and regulatory requirements may subject a manufacturer to legal or regulatory action, such as warning letters, suspension of manufacturing, product seizures, injunctions, civil penalties or criminal prosecution. There is also a continuing, annual prescription drug product program user fee.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The FDA may withdraw approval if compliance with regulatory requirements and standards is not maintained or if problems occur after the product reaches the market. Later discovery of previously unknown problems with a product, including adverse events of unanticipated severity or frequency, or with manufacturing processes, or failure to comply with regulatory requirements, may result in revisions to the approved labeling to add new safety information, requirements for post-market studies or clinical trials to assess new safety risks, or imposition of distribution or other restrictions under a risk evaluation and mitigation strategy.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Controlled Substances</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The CSA and its implementing regulations establish a &#8220;closed system&#8221; of regulations for controlled substances. The CSA imposes registration, security, recordkeeping and reporting, storage, manufacturing, distribution, importation and other requirements under the oversight of the DEA. The DEA is responsible for regulating controlled substances, and requires those individuals or entities that manufacture, import, export, distribute, research, or dispense controlled substances to comply with the regulatory requirements in order to prevent the diversion of controlled substances to illicit channels of commerce.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Facilities that manufacture, distribute, import or export any controlled substance must register annually with the DEA. The DEA registration is specific to the particular location, activity(ies) and controlled substance schedule(s). For example, separate registrations are needed for import and manufacturing, and each registration will specify which schedules of controlled substances are authorized.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The DEA inspects all manufacturing facilities to review security, recordkeeping, reporting and handling prior to issuing a controlled substance registration. The specific security requirements vary by the type of business activity and the schedule and quantity of controlled substances handled. The most stringent requirements apply to manufacturers of Schedule I and Schedule II substances. Required security measures commonly include background checks on employees and physical control of controlled substances through storage in approved vaults, safes and cages, and through use of alarm systems and surveillance cameras. Once registered, manufacturing facilities must maintain records documenting the manufacture, receipt and distribution of all controlled substances. Manufacturers must submit periodic reports to the DEA of the distribution of Schedule I and II controlled substances, Schedule III narcotic substances, and other designated substances. Registrants must also report any controlled substance thefts or significant losses, and must obtain authorization to destroy or dispose of controlled substances. Imports of Schedule I and II controlled substances for commercial purposes are generally restricted to substances not already available from a domestic supplier or where there is not adequate competition among domestic suppliers. In addition to an importer or exporter registration, importers and exporters must obtain a permit for every import or export of a Schedule I and II substance or Schedule III, IV and V narcotic, and submit import or export declarations for Schedule III, IV and V non-narcotics. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For drugs manufactured in the United States, the DEA establishes annually an aggregate quota for the amount of substances within Schedules I and II that may be manufactured or produced in the United States based on the DEA&#8217;s estimate of the quantity needed to meet legitimate medical, scientific, research and industrial needs. The quotas apply equally to the manufacturing of the active pharmaceutical ingredient and production of dosage forms. The DEA may adjust aggregate production quotas a few times per year, and individual manufacturing or procurement quotas from time to time during the year, although the DEA has substantial discretion in whether or not to make such adjustments for individual companies.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Individual U.S. states also establish and maintain separate controlled substance laws and regulations, including licensing, recordkeeping, security, distribution, and dispensing requirements. State authorities, including boards of pharmacy, regulate use of controlled substances in each state. Failure to maintain compliance with applicable requirements, particularly as manifested in the loss or diversion of controlled substances, can result in enforcement </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">30</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">action that could have a material adverse effect on the Company&#8217;s business, operations and financial condition. The DEA may seek civil penalties, refuse to renew necessary registrations, or initiate proceedings to revoke those registrations. In certain circumstances, violations could lead to criminal prosecution. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Patent Cooperation Treaty</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The PCT facilitates filing for patent recognition in multiple jurisdictions simultaneously using a single uniform patent application. 193 countries, including Canada and the United States have ratified the PCT.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Ultimately, patents are still granted in each country individually. As such, the PCT procedure consists of two phases&#58; filing of an international application, and national evaluation under the patent laws in force in each country where a patent is sought.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Within 12 months of filing a provisional patent application at the United States Patent and Trademark Office, the Company may elect to file a regular utility patent application in the United States in tandem with filing a PCT application with the World Intellectual Property Office, in each case claiming priority to the provisional patent application. Within 30 months of the provisional filing date, deadlines begin for a PCT application to enter the national phase in desired jurisdictions globally, such as Canada (30 months) and Europe (31 months), in each case claiming priority to the provisional patent application. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">While the Company is focused on programs using psychedelic-inspired compounds, the Company does not have any direct or indirect involvement with the illegal selling, production or distribution of any substances in the jurisdictions in which it operates. The Company is exploring drug development within approved laboratory clinical trial settings conducted within approved regulatory frameworks. Though highly speculative, should any prescription drug product be developed by the Company (which, if it does occur, would not be for several years), such drug product will not be commercialized prior to receipt of applicable regulatory approval, which will only be granted if clinical evidence of safety and efficacy for the intended use(s) is successfully developed. The Company may also employ non-prescription drugs, where appropriate.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Ireland</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In Ireland, psilocin is a controlled substance under the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Misuse of Drugs Act, 1977, 1984 and 2015</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Ireland</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MDA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Misuse of Drugs Regulations 2017</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Ireland</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">MDR</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Criminal Justice (Psychoactive Substances) Act 2010</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. These are the primary legislative instruments which govern controlled substances in Ireland. This legislation regulates the use, possession, supply, licensing, and administration of listed scheduled substances and establishes the offences and penalties for anything done contrary to the legislation. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Any substance, product or preparation (whether natural or otherwise) including a fungus of any kind or description, which contains psilocin or an ester of psilocin is controlled as a Schedule 1 controlled substance under the Ireland MDA and the Ireland MDR. The Ireland MDR includes &#8220;any substance, product or preparation including fungi of any kind or description, containing psilocin or an ester of psilocin (which are commonly described as &#8216;magic mushrooms&#8217;)&#8221; within the strict regime of control that applies to those substances in Schedule 1 of the Ireland MDR. Accordingly, psilocin will qualify as a Schedule 1 controlled substance and is subject to the strict regime of control that applies. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As a Schedule 1 controlled substance under the Ireland MDA, unlawful manufacturing, production, preparation, importation, exportation, supply, or distribution of psilocin carries onerous obligations and harsh punishments for contravention&#59; this include fines and&#47;or terms of imprisonment of up to 14 years.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the Ireland MDA, in certain circumstances, the Minister for Health &#8220;may grant licences or issue permits or authorizations for any of the purposes of this Act, attach conditions to any such licence, permit or authorization, vary such conditions and revoke any such licence, permit or authorization&#8221;. Where licences are granted, there are very strict conditions imposed on licence holders. For example, strict conditions can be placed regarding the security, storage and documenting controlled substances.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company does not currently engage in any activities in Ireland that are regulated by such laws. If the Company were to engage in such activities, it would need to obtain the appropriate licences and authorization to do so. The </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Company intends to constantly review its Irish operations to ensure compliance with all applicable laws as the operations evolve.  </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Compliance with Applicable Laws</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company oversees and monitors compliance with applicable laws in each jurisdiction in which it operates. In addition to the Company's senior executives and the employees responsible for overseeing compliance, the Company has local counsel engaged in every jurisdiction in which it operates and has received legal opinions or advice in each of these jurisdictions regarding (a) compliance with applicable regulatory frameworks, and (b) potential exposure to, and implications arising from, applicable laws in jurisdictions in which the Company has operations or intends to operate. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company works with third parties who require regulatory licensing to handle scheduled drugs.  The Company continuously updates its compliance and channel programs to maintain regulatory standards set for drug development.  The Company also works with clinical research organizations who maintain batch records and data storage for the Company&#8217;s clinical programs.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Additionally, the Company has established a Medical &#38; Clinical Advisory Team, a Research, Clinical and Regulatory Team and a Government Relations and Communications Team with cross-functional expertise in business, neuroscience, pharmaceuticals, mental health and psychedelics to advise management. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In conjunction with the Company's human resources and operations departments, the Company oversees and implements training on the Company's protocols. The Company will continue to work closely with external counsel and other compliance experts, and is evaluating the engagement of one or more independent third party providers to further develop, enhance and improve its compliance and risk management and mitigation processes and procedures in furtherance of continued compliance with the laws of the jurisdictions in which the Company operates. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The programs currently in place include monitoring by executives of the Company to ensure that operations conform to and comply with required laws, regulations and operating procedures. The Company is currently in compliance with the laws and regulations in all jurisdictions and the related licensing framework applicable to its business activities. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company and, to its knowledge, each of its third-party researchers, suppliers and manufacturers have not received any non-compliance, citations or notices of violation which may have an impact on the Company&#8217;s licences, business activities or operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company conducts due diligence on third-party researchers, medical professionals, clinics, cultivators, processors and others as applicable, with whom it engages. Such due diligence includes but is not limited to the review of necessary licenses and the regulatory framework enacted in the jurisdiction of operation. Further, the Company generally obtains, under its contractual arrangements, representations and warranties from such third parties pertaining to compliance with applicable licensing requirements and the regulatory framework enacted in the jurisdiction of operation.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Selected Quarterly Information </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> This selected information is derived from the Company&#8217;s annual and quarterly financial statements.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.896%"><tr><td style="width:1.0%"></td><td style="width:16.690%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.512%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.225%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.651%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.813%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-style:italic;font-weight:400;line-height:125%">(Canadian dollars in thousands, except per share and share figures)</font></td><td colspan="3" style="background-color:#dbdbdb;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">September 30, 2021</font></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">June 30, 2021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">March 31, 2021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">December 31, 2020</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">September 30, 2020</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">June 30, 2020</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">March 31, 2020</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Date of Incorporation (October 22, 2019) to December 31, 2019</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Revenues ($)</font></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">&#8212;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">864&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Operating Expenses ($)</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">17,106</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">13,939&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">12,363&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">11,378&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">2,561&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">4,420&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">577&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">237&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Net loss ($)</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">(17,607)</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(14,717)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(13,777)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(11,419)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(2,660)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(4,364)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(573)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(237)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:2.75pt;padding-right:2.75pt;text-indent:17pt"><font><br></font></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Weighted Average Shares - Basic</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">165,783,294</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">157,711,518&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">150,494,164&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">110,223,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">69,150,124&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">60,703,392&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">49,976,788&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">47,523,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Loss per share ($'s)</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">(0.11)</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.04)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.07)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.01)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.01)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Weighted Average Shares - Diluted</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">165,783,294</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">157,711,518&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">150,494,164&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">110,223,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">69,150,124&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">60,703,392&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">49,976,788&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">47,523,000&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Loss per share ($'s)</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">(0.11)</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.09)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.10)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.04)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.07)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.01)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">(0.01)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Cash and cash equivalents</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">75,179</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">55,075&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">64,026&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">40,028&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">3,868&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">7,679&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">1,545&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">108&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Total Assets ($)</font></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">105,465</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">82,837&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">92,112&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">61,254&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">5,789&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">8,891&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">1,711&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">137&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">Total Non-Current Liabilities ($)</font></td><td colspan="2" style="background-color:#dbdbdb;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:700;line-height:125%">363</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#160;</font></td><td style="background-color:#dbdbdb;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">770&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">1,094&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">3,442&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8.5pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has not paid dividends on the Common Shares and does not anticipate declaring any dividends in the near future.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Results of operations </font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.896%"><tr><td style="width:1.0%"></td><td style="width:39.215%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.821%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.821%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.821%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.822%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Three months ended September 30,</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Six months ended September 30,</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2021</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2020</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2021</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2020</font></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">REVENUE</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">864</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">COST OF GOODS SOLD</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">664</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">GROSS PROFIT</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">200</font></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">EXPENSES</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;text-indent:8.99pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Share-based compensation</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">5,457</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">786</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">10,230</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">3,274</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;text-indent:8.99pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">General and administrative costs</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">7,831</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,340</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">14,021</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">2,567</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;text-indent:8.99pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Research</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">3,818</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">435</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">6,794</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,140</font></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">TOTAL EXPENSES</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">17,106</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">2,561</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">31,045</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">6,981</font></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">OTHER INCOME (EXPENSES)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;text-indent:9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Interest income</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">51</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">95</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;text-indent:9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Accretion on convertible debt</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(10)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;Foreign currency translation gain (loss)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">155</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(99)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">106</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(232)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;&#160;&#160;&#160;&#160;&#160;Contingent consideration accretion</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(70)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(231)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 10pt;text-align:left;text-indent:4.5pt;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Change in fair value of contingent consideration</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(637)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(1,249)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;</font></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">TOTAL OTHER EXPENSES</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(501)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(99)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(1,279)</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(242)</font></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt 0 3.77pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">NET LOSS FOR THE PERIOD</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(17,607)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(2,660)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(32,324)</font></td><td colspan="3" style="background-color:#d9d9d9;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(7,023)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.75pt;padding-right:2.75pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 3.77pt 0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 3.77pt 0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Basic loss per share for the period attributable to common shareholders</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(0.11)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(0.04)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(0.20)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(0.10)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Weighted average number of common shares outstanding - basic</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">165,783,294</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">69,150,254</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">161,750,053</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">69,150,254</font></td></tr></table><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, Cybin incurred a net loss $17,607 compared to a net loss of $2,660 during the same period in prior year. The significant items that occurred in the quarter include&#58; the public </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">33</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">offering for aggregate gross proceeds of $34,502&#59; the listing on the NYSE American&#59; the filing of an additional patent application&#59; and the progression of the Company's various research projects.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six-month period ended September&#160;30, 2021, Cybin incurred a net loss $32,324 compared to a net loss of $7,023 during the same period in prior year. In additional to the items incurred during the three-month period ended September 30, 2021, other significant items that occurred in the period include&#58; the agreement between the Company and Catalyst Global LLC dated April 20, 2021, to provide investor relations services&#59; the Psilocybin Zydis Feasibility study with Catalent&#59; and the approval from the IRB to commence the study of the Company&#8217;s sublingual psilocybin formulation, subject to final confirmation of study material specifications by the MOH</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;margin-top:2pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Operating expenses</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, operating expenses totaled $17,106. The operating expenses include a non-cash component of $5,457 (2020 - $786) related to share-based compensation. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six-month period ended September&#160;30, 2021, operating expenses totaled $31,045. The operating expenses include a non-cash component of $10,230 (2020 - $3,274) related to share-based compensation. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For both the three and six-month periods ended September 30, 2021, the remaining operating expenses were incurred to support raising capital, research &#38; development and the overall development of the Company. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Share-based compensation</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">During the three-month period ended September&#160;30, 2021, Cybin issued warrants and options incurring share-based payment expense of $5,457 compared to $786 during the same period in prior year mainly as a result of the growth of the Company. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">During the six-month period ended September&#160;30, 2021, Cybin issued warrants and options incurring share-based payment expense of $10,230 compared to $3,274 during the same period in prior year mainly as a result of the growth of the Company. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The share-based compensation expense was recorded based on the fair value using a Black Scholes Model. On exercise of these warrants and options the equity reserve balances will move to share capital.   </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">General and administration costs</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, general and administrative expenses were $7,831 compared to $1,340 during the same period in prior year. General and administrative expense for the three-month period are comprised of marketing related expenses of $3,450 (2020 - $367), payroll related expenses of $2,349 (2020 - $387), professional and consulting fees of $725 (2020 &#8211; $339), office and administration expenses of $1,071 (2020 - $102) and listing fees of $236 (2020 &#8211; $145). </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six-month period ended September&#160;30, 2021, general and administrative expenses were $14,021 compared to $2,567 during the same period in prior year. General and administrative expense for the six-month period are comprised of marketing related expenses of $6,409 (2020 - $536), payroll related expenses of $3,573 (2020 - $859), professional and consulting fees of $1,793 (2020 &#8211; $894), office and administration expenses of $1,909 (2020 - $133) and listing fees of $337 (2020 &#8211; $145). </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For both the three and six-month periods ended September 30, 2021, the overall increase in general and administrative expenses relates to the overall growth of the Company as it continues to develop the business and promote awareness of the psychedelic industry.  The Company has incurred some additional marketing expenses it considers a one time event as it continues to raise awareness of the Company and its industry. Marketing includes education, communications, and investor relations. The Company expects these expenses to decrease during calendar 2022.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Research</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, the Company&#8217;s research expenses totaled $3,818 compared to $435 during the same period in prior year. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six-month period ended September&#160;30, 2021, the Company&#8217;s research expenses totaled $6,794 compared to $1,140 during the same period in prior year. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The research expenses relate to the advancement of the initial research and preliminary testing of future products. The increase in the research expense is also explained by growth in the scientific team and as well as product development and onboarding laboratories in preparation for testing. Cybin&#8217;s research and development team has completed 74 in-vitro and in-vivo evaluations of Cybin&#8217;s expanding portfolio of psychedelic compounds being designed for potential therapeutic applications for several mental health conditions. To date, more than 50 novel compounds have been evaluated through collaborations with experienced contract research organizations for pharmacokinetic&#47;pharmacodynamic profile, metabolic stability, receptor binding, and safety in order to identify preferred candidates for further development.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;margin-top:2pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Other income (expenses)</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Foreign exchange gain (loss)</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, the Company incurred a foreign currency translation gain from operations and revaluation of balance sheet assets held in U.S. dollars of $155. The U.S. dollar increased $0.0347 from $1.2394 on June 30, 2021 to $1.2741 on September 30, 2021.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six-month period ended September&#160;30, 2021, the Company incurred a foreign currency translation gain from operations and revaluation of balance sheet assets held in U.S. dollars of $106. The U.S. dollar increased $0.0166 from $1.2575 on March 31, 2021 to $1.2741 on September 30, 2021.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Contingent liability accretion</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, the Company recorded an accretion expense of $70, and for the six-month period ended September&#160;30, 2021, the Company recorded an accretion expense of $231, related to commitments to the former shareholders of Adelia based on milestone achievements (see &#8220;Acquisitions&#8221;). </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Change in fair value of contingent consideration</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three-month period ended September&#160;30, 2021, the Company recorded a change in fair value of $637 related to the achievement of certain milestones in connection with the Adelia Transaction (see &#8220;Acquisitions&#8221;). The amount recorded represents the difference between the fair value of the contingent consideration determined as at June 30, 2021 and the fair value on September&#160;30, 2021. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the six-month period ended September&#160;30, 2021, the Company recorded a change in fair value of $1,249 related to the achievement of certain milestones in connection with the Adelia Transaction (see &#8220;Acquisitions&#8221;). The amount recorded represents the difference between the fair value of the contingent consideration determined as at June 30, 2021 and the fair value on September&#160;30, 2021.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">COVID-19 Pandemic</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%">General</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 a pandemic. Since the outbreak of COVID-19, the Company has focused its efforts on safeguarding the health and well-being of its employees, consultants and community members. To help slow the spread of COVID-19, the Company&#8217;s employees have been working remotely, where possible, and abiding by local and national guidance put in place in Canada, the United States, and the UK related to social distancing and restrictions on travel outside of the home. The Company has </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">35</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">and will continue to abide by the protocols within Canada, the United States, and the UK regarding the performance of work activities. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Impact on the Company</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">During the three and six-month periods ended September&#160;30, 2021, the Company has not experienced any material negative effect on its financial position as a result of COVID-19. Certain operating expenses of the Company, such as those relating to travel and office expenses, have been less than they would have been without the restrictions relating to COVID-19.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The duration and the eventual impact of the COVID-19 pandemic remains unknown. In particular, it is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company. To date, a number of businesses have suspended or scaled back their operations and development as cases of COVID-19 have been confirmed, for precautionary purposes or as governments have declared a state of emergency or taken other actions. In the event that the operations or development of the Company are suspended or scaled back, or if the Company&#8217;s supply chains are disrupted, such events may have a material adverse effect on the Company. The Company may also experience delays in operation of its clinical trials due to slower administrative processes and response times, delayed patient recruitments, and delayed governmental approvals of import and export requests caused by the COVID-19 pandemic and the related restrictions. The breadth of the impact of the COVID-19 pandemic on investors, businesses, the global economy and financial and commodity markets may also have a material adverse effect on the Company.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company raised capital pursuant to the February 2021 Prospectus and July 2021 Prospectus to continue to support its strategic plan. The Company is focused on research and has not seen any major changes to its ability to complete those activities. The Company intends to assess its business and operational needs, and implement cost reductions as needed. The Company is currently focused on the research stage of its projects and will not be generating significant revenues in the short term. In the long term if increased delays in COVID-19 cases may impact labs, research materials, local lockdowns and other shutdowns where the Company completes its research activities, this may delay timelines in achieving its milestone accordingly. The Company will mitigate any short-term limitations imposed by COVID-19 on materials, research or operations by working with its suppliers and consultants to determinate alternative vendors, suppliers or sources when applicable or available.  The Company believes it has sufficient working capital after the completion of the Offering to manage its short- and long-term cash flow needs as it continues to invest into its intellectual property.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">36</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Liquidity, Capital Resources and Cash Flows</font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.896%"><tr><td style="width:1.0%"></td><td style="width:34.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.217%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.217%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.508%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.217%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.506%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Three Months ended September 30,</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Change</font></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Six Months ended September 30,</font></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">Change</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:125%">(Canadian dollars in thousands)</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2020</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">%</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2021</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">2020</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">$</font></td><td colspan="3" style="border-top:0.5pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Net cash used in operating activities</font></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(13,792)</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(2,364)</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(11,428)</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">483&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(22,672)</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(3,968)</font></td><td style="border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(18,704)</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">471&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Net cash used in investing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(88)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(670)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">582&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">87&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(483)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(670)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">187&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">28&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Net cash from (used in) financing activities</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">33,981</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(797)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">34,778&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">4364&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">34,310</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">6,961&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">27,349&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">393&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Increase (decrease) in cash</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">20,101</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(3,831)</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">23,932&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">625&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">11,155</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">2,323&#160;</font></td><td style="border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">8,832&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">380&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Net foreign exchange difference</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">3</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">3&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">(2)</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#8212;&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">(2)</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">N&#47;A</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cash and cash equivalents, beginning of period</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">55,075</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">7,699&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">47,376&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">615&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">64,026</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1,545&#160;</font></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">62,481&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">4044&#160;</font></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">Cash and cash equivalents, end of period</font></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">75,179</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">3,868&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">71,311&#160;</font></td><td style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1844&#160;</font></td><td style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:125%">75,179</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">3,868&#160;</font></td><td style="border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">71,311&#160;</font></td><td style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">1844&#160;</font></td><td style="background-color:#dbdbdb;border-bottom:1pt solid #000000;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:125%">%</font></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.753%"><tr><td style="width:1.0%"></td><td style="width:31.083%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.808%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.809%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Three Months ended September 30</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Six Months ended September 30</font></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Net cash used in operating activities</font></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Primarily relates to cash used for operating expenses including research and development expenses, salaries, and other general and administration expenses. Cash flows from operating activities exclude expenses not affecting cash, such as share based compensation expense, depreciation, unrealized foreign exchange gains or losses, and net changes in non-cash balances relating to operations. </font></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three-month period ended September 30, 2021, cash used in operating activities was $13,792 driven by a net loss for the period of $17,607, an increase in working capital of $2,201 and non-cash unrealized foreign exchange gain of  $190 partially offset by the following non-cash items&#58; share-based compensation of $5,457, change in fair value of contingent consideration of $637, contingent consideration accretion of $70 and depreciation of $42.</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the six-month period ended September 30, 2021, cash used in operating activities was $22,672 driven by a net loss for the period of $32,324, an increase in working capital of $1,979 and non-cash unrealized foreign exchange gain of  $159 partially offset by the following non-cash items&#58; share-based compensation of $10,230, change in fair value of contingent consideration of $1,249, contingent consideration accretion of $231 and depreciation of $80.</font></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Net cash used in investing activities</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">For the three-month period ended September 30, 2021, cash flows were mainly driven by&#58; </font></div><div style="margin-bottom:0.08pt;padding-left:18pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%;padding-left:4.02pt">purchase of intangible assets of $67, and </font></div><div style="margin-bottom:0.08pt;padding-left:18pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%;padding-left:4.02pt">purchase of equipment of $21.</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:0.08pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">For the six-month period ended September 30, 2021, cash flows were mainly driven by&#58; </font></div><div style="padding-left:18pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%;padding-left:4.02pt">investment in RxLive Limited (&#8220;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:112%">RxLive</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8221;)  of $250,</font></div><div style="margin-bottom:0.08pt;padding-left:18pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%;padding-left:4.02pt">purchase of intangible assets of $163, and </font></div><div style="margin-bottom:0.08pt;padding-left:18pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:125%;padding-left:4.02pt">purchase of equipment of $70.</font></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Net cash from (used in) financing activities</font></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three and six-month periods ended September 30, 2021,  cash generated from financing activities were mainly related to the net proceeds of $31,508 received as a result of the issuance of common shares completed in August. 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The Public Offering was conducted by Cantor Fitzgerald Canada Corporation and Canaccord Genuity Corp., as joint bookrunners, co-led the syndicate of underwriters for the Public Offering, which included H.C. Wainwright &#38; Co., LLC, Roth Canada, ULC, and Stifel Nicolaus Canada Inc. (collectively, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Underwriters</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). In consideration for their services, the Company paid to the Underwriters a cash commission equal to $2,240 and issued 658,860 compensation warrants of the Company (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Compensation Warrants</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), with each Compensation Warrant being exercisable to acquire one Common Share at the Issue Price for a period of 24 months from the closing date of the Public Offering.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s main use for liquidity is to fund the development of its research programs as noted above. The primary source of liquidity has been from public financing to date. The ability to fund operations, to make planned capital expenditures and execute the growth&#47;acquisition strategy depends on the future operating performance and </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">37</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">cash flows, which are subject to prevailing economic conditions, regulatory and financial, business and other factors, some of which are beyond the Company&#8217;s control.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company had working capital of $73,744. The Company is a pre-operative stage as it researches and develops its IP portfolio in anticipation of manufacturing in the near future. Therefore the Company will not be able to generate sufficient amounts of cash and cash equivalents from its operations in the short term. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to continue its rapid growth and expand its operations in the next twelve to twenty-four months. This growth, along with the expectation of operating at a loss for at minimum the next 12 months, will  diminish the Company&#8217;s working capital. As such, further financings may be required to develop the Company&#8217;s facility and products, make acquisitions, meet ongoing obligations, and discharge its liabilities in the normal course of business. There is no assurance that additional funds can be raised upon terms acceptable to the Company, or at all, as funding for small companies remains challenging.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s ability to access both public and private capital is dependent upon, among other things, general market conditions and the capital markets generally, market perceptions about the Company and its business operations, and the trading prices of the Company&#8217;s securities from time to time. When additional capital is required, the Company intends to raise funds through the issuance of equity or debt securities. Other possible sources include the exercise of stock options and warrants of the Company. There can be no assurance that additional funds can be raised upon terms acceptable to the Company, or at all, as funding for early-stage companies remain challenging generally. Given the nature of the Company&#8217;s business as of the date of this MD&#38;A, and in particular, the fact that its operations are undertaken exclusively within a foreign jurisdiction, the Company may face difficulty in accessing traditional sources of financing, notwithstanding that its business operations are conducted in a regulatory environment within which the Company&#8217;s activities are neither illegal nor subject to conflicting laws.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s current expenditure obligations include commitments for those projects described in the section entitled &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Major Objectives</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; in this MD&#38;A. The Company expects to continue funding these projects with available cash and cash equivalents, and therefore, is subject to risks including, but not limited to, an inability to raise additional funds through debt and&#47;or equity financing to support the Company&#8217;s continued development, including capital expenditure requirements, operating requirements and to meet its liabilities and commitments as they become due.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company constantly monitors and manages its capital resources to assess the liquidity necessary to fund operations and capacity expansion. As at September&#160;30, 2021, the Company had a cash and cash equivalent balance of $75,179 and current liabilities of $5,708, of which $3,079 represent non-cash liabilities. In addition, Cybin has agreed to participate in a private placement of subscription receipts of 1301376 B.C. Ltd. in an amount of up to $500. The Company&#8217;s current resources are sufficient to settle its current liabilities. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Management continues to raise the capital necessary to become a fully operational enterprise. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has negative cash flow from operating activities and has historically incurred net losses. To the extent that the Company has negative operating cash flows in future periods, it may need to deploy a portion of its existing working capital to fund such negative cash flows.  The Company will be required to raise additional funds through the issuance of additional equity securities, through loan financing, or other means, such as through partnerships with other companies and research and development reimbursements.  There is no assurance that additional capital or other types of financing will be available if needed or that these financings will be on terms at least as favourable to the Company as those previously obtained. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s primary capital needs are funds to advance its research and development activities and for working capital purposes. These activities include staffing, pre-clinical studies, clinical trials and administrative costs. The Company has experienced operating losses and cash outflows from operations since incorporation and will require ongoing financing to continue its research and development. As the Company has not yet achieved profitability, there are uncertainties regarding its ability to continue as a going concern. The Company has not earned any revenue or reached successful commercialization of any products. The Company&#8217;s success is dependent upon the ability to finance its cash requirements to continue its activities. There is no assurance that additional capital or other types of financing will be available if needed or that these financings will be on terms at least as favourable to the Company as those previously obtained, or at all. See &#8220;Risk Factors&#8221;.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">38</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company raised capital pursuant to the February 2021 Prospectus and the July 2021 Prospectus to continue to support its strategic plan. The Company is focused on research and has not seen any major changes to its ability to complete those activities. The Company intends to assess its business and operational needs, and implement cost reductions as needed. The Company is currently focused on the research stage of its projects and will not be generating significant revenues in the short term. In the long term if increased delays in COVID-19 cases may impact labs, research materials, local lockdowns and other shutdowns where the Company completes its research activities, this may delay timelines in achieving its milestone accordingly. The Company will mitigate any short-term limitations imposed by COVID-19 on materials, research or operations by working with its suppliers and consultants to determinate alternative vendors, suppliers or sources when applicable or available. The Company believes it has sufficient working capital after the completion of the Offering to manage its short- and long-term cash flow needs as it continues to invest into its intellectual property.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Contractual obligations and commitments</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In connection with the investment in RxLive, Cybin has agreed to participate in a private placement of subscription receipts of 1301376 B.C. Ltd. in an amount of up to $500.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As at September&#160;30, 2021, the Company had also entered into agreements for various studies which may require the Company to spend up to an additional US$5,537. The Company expects to pay this amount within the next 18 months, however the timing and certainty of the payments are contingent on availability of materials and successful completion of certain milestones. The Company has the right to cancel the preclinical studies at its discretion, in which case a cancellation fee may apply, however the Company is not liable to pay the full amount of the study. </font></div><div style="margin-top:5pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Outstanding share data </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The table below sets out the outstanding share capital of the Company as at September&#160;30, 2021 and as of the date of this MD&#38;A&#58; </font></div><div style="margin-bottom:6pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.036%"><tr><td style="width:1.0%"></td><td style="width:37.250%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.698%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.752%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-left:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">Class of Security</font></td><td colspan="3" style="background-color:#dbdbdb;border-left:0.25pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">As of September  30, 2021</font></td><td colspan="3" style="background-color:#dbdbdb;border-left:0.25pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:125%">As of the date of this MD&#38;A</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Common Shares</font></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">160,359,758&#160;</font></td><td style="border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">160,858,258&#160;</font></td><td style="border-right:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Stock options</font></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">27,707,702&#160;</font></td><td style="border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">27,212,702&#160;</font></td><td style="border-right:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Underwriters Warrants</font></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">868,740&#160;</font></td><td style="border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">868,740&#160;</font></td><td style="border-right:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Common Share purchase warrants</font></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">27,424,921&#160;</font></td><td style="border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">27,401,421&#160;</font></td><td style="border-right:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;padding-left:2.75pt;padding-right:2.75pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Class B Shares (as defined below)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (1)</font></div></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">1,006,201.6&#160;</font></td><td style="border-bottom:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="2" style="border-bottom:0.5pt solid #000000;border-left:0.25pt solid #000000;border-top:0.25pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">1,006,201.6&#160;</font></td><td style="border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Note&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">The</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Class B Shares are exchangeable for Common Shares, on the basis of 10 Common Shares for each Class B Share, at the option of the holder thereof, subject to customary adjustments.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Common Shares</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The authorized capital of the Company consists of an unlimited number of Common Shares</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">without par value and an unlimited number of preferred shares. As of September&#160;30, 2021, 160,359,758 Common Shares were outstanding and no preferred shares are issued and outstanding. As of the date of this MD&#38;A, 160,858,258 Common Shares are outstanding (see &#8220;Subsequent Events&#8221;).</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Stock Options</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021, options to purchase up to 27,707,702 Common Shares were outstanding under Cybin&#8217;s equity incentive plan. As of the date of this MD&#38;A, options to purchase up to 27,212,702 Common Shares are outstanding. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Underwriter&#8217;s Warrants</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021 and as of the date of this MD&#38;A, underwriter&#8217;s warrants to purchase up to 868,740 units of the Company at an exercise price of $2.25 per unit are outstanding, with each unit consisting of one Common Share and one Common Share purchase warrants, with each Common Share purchase warrant being exercisable to acquire one Common Share at an exercise price of $3.25 per Common Share for a period of 36 months.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">39</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Common Share Purchase Warrants</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As of September&#160;30, 2021, warrants to purchase up to 27,424,921 Common Shares were outstanding, exercisable at weighted average exercise price of $1.16</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">per Common Share. As of the date of this MD&#38;A, warrants to purchase up to 27,401,421</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Common Shares were outstanding, exercisable at a weighted average exercise price of $1.16</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">per Common Share. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Class B Shares</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In connection with the Adelia Transaction (see &#8220;Acquisitions&#8221;), Cybin U.S. (a subsidiary of the Company) has issued 919,996.1 Class B Shares. The Class B Shares are exchangeable at the holder&#8217;s option for Common Shares on the basis of 10 Common Shares for 1 Class B Share, subject to customary adjustments. As of September&#160;30, 2021 and as of the date of this MD&#38;A, 1,006,201.6 Class B Shares were outstanding. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Acquisitions</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On December 4, 2020, Cybin entered into a contribution agreement, as amended on September 24, 2021, (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Contribution Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) with Cybin Corp., Cybin U.S. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Acquiror</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), a newly formed fully-controlled subsidiary of Cybin created for the purposes of the acquisition (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Adelia Transaction</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), and all of the shareholders of Adelia Therapeutics Inc. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Adelia Shareholders</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) whereby the Acquiror has agreed to purchase from the Adelia Shareholders all of the issued and outstanding common shares of Adelia (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Adelia Shares</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) in exchange for non-voting Class B common shares in the capital of the Acquiror (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Class B Shares</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). The Adelia Transaction closed on December 14, 2020 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Closing</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the Contribution Agreement, the Adelia Shareholders contributed all of the Adelia Shares to the Acquiror as a capital contribution in exchange for the Acquiror issuing to them, in the aggregate, 868,833 Class B Shares in accordance with their respective pro rata percentages at a price per Class B Share equal to $12.40 (approximately US$9.69). The aggregate value of the Class B Shares to be issued to the Adelia Shareholders on the Closing was $19,549 (approximately USD$15.28 million).</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Class B Shares issued by the Acquiror to the Adelia Shareholders are exchangeable for Common Shares on a 10 Common Shares for 1 Class B Share basis, at the option of the holder thereof, subject to customary adjustments. The purpose of issuing exchangeable Class B Shares to the Adelia Shareholders is to allow the Adelia Shareholders to defer a taxable event, which occurs on the exchange of shares of a United States company for the shares of a Canadian company. Notwithstanding the foregoing, no Class B Shares are exchangeable prior to the first anniversary of the Closing and not more than&#58; (i) 33 1&#47;3% of the Class B Shares will be exchangeable prior to the second anniversary of Closing&#59; (ii) 66 2&#47;3% of the Class B Shares will be exchangeable prior to the third anniversary of Closing&#59; and (iii) thereafter, 100% of the Class B Shares will be exchangeable ((i), (ii) and (iii), collectively, the &#8220;Hold Periods&#8221;). The Class B Shares issued to the Adelia Shareholders upon the Closing are exchangeable for a total of 8,688,330 Common Shares, resulting in an effective issue price of $1.24 per Cybin Share.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On the occurrence of certain milestones as set out in the Contribution Agreement (each a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Milestone</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the Acquiror will issue to the Adelia Shareholders in accordance with their pro rata percentage, within five business days following the relevant date at which there is agreement as to the achievement of the Milestone (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Milestone Determination Date</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), such number of Class B Shares as shall be determined by dividing the applicable milestone consideration, as set out in the Contribution Agreement (or where some, but not all, of such sub-Milestone&#8217;s in the relevant fiscal quarter are achieved, such lesser potion of such milestone consideration) as is determined in accordance with applicable Milestone, by the greater of&#58; (i) $0.75&#59; (ii) the 10 day volume weighted average trading price of the Common Shares on the Exchange (or, in the event that the Common Shares are no longer traded on the Exchange, such other nationally recognized exchange as the Common Shares may at the applicable time be trading)&#59; and (iii) the closing market price of the Common Shares on the Exchange (or, in the event that the Common Shares are no longer traded on the Exchange, such other nationally recognized exchange as the Common may at the applicable time be trading) in each case, on the close of business on the last business day preceding the Milestone Determination Date. If a particular Milestone has not been achieved by the close of the quarter immediately following the quarter in which such Milestone is scheduled for completion pursuant to the Contribution Agreement, the Acquiror&#8217;s obligation to issue Class B Shares on the occurrence of the applicable Milestone shall expire. The total value of the Class B Shares issuable pursuant to the Milestones is up to $9,388 (approximately US$7.33 million), assuming all Milestones are met </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">40</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">prior to the applicable deadlines. As of the date of this MD&#38;A, 86,205.5 Class B Shares had been issued on the achievement of Milestones. Pursuant to the Contribution Agreement, Cybin, the Acquiror and the Adelia Shareholders also entered into a support agreement dated December 14, 2020 (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Support Agreement</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), which for the purpose of Canadian securities law, is deemed a &#8220;security&#8221; as it is a document evidencing an interest in or to a security (i.e. the Common Shares), and, as such, constitutes a security of Cybin. Upon the signing of the Support Agreement, given that each of the Adelia Shareholders are an &#8220;accredited investor&#8221;, the prescribed restricted period (of (4) months and one (1) day after the date of issuance) as required under Canadian securities law on the Common Shares (which are exchangeable for Class B Shares at a future date) will commence. Therefore, upon the exchange of the Class B Shares for the Common Shares, subject to the Hold Periods, such Common Shares will no longer be within a restrictive period as prescribed under applicable securities law and free trading securities. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On January 11, 2021, the Company announced the achievement of the first Milestone for the period commencing November 15, 2020, as contemplated by the terms of the Contribution Agreement. The achievement includes the successful synthesis of multiple tryptamine derivatives in sufficient quantities to initiate in vitro &#8220;Proof of Principle&#8221;&#59; establish a ADME&#47;PK has been completed&#59; and to demonstrate &#8220;In Vitro&#8221; ADME &#8220;Proof of Principle&#8221; that specific synthesis modifies the metabolism of a psychedelic tryptamine. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On March 9, 2021, the Company announced the achievement of certain Milestones for the period commencing January 1, 2021, as contemplated by the terms of the Contribution Agreement. The achievement included API Synthesis and optimization to demonstrate that two or more deuterated tryptamines show significant in vivo modifications of PK consistent with &#8220;Proof of Concept&#8221;, nomination of two deuterated candidates for full IND enabling studies, and completion of a certain API Manufacturing Contract. Pursuant to the terms of the Contribution Agreement, an aggregate of 42,247.3 Class B Shares were issued to the Adelia Shareholders in satisfaction of $686,306.31 due to them upon meeting certain Milestones.   </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On June 24, 2021 Adelia completed the remaining requirements of the second Milestone as listed in the Contribution Agreement. Accordingly, 15,777.10 Class B Shares were issued to the Adelia Shareholders, amounting to $458. The Class B Shares are exchangeable for a total of 157,771 Common Shares, representing an effective issue price of $2.90 per Common Share.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On August 17, 2021, an additional 18,788.6 Class B Shares were issues to the Adelia Shareholders due to the  achievement of certain requirements of the third and fourth milestones, amounting to $633. The Class B Shares are exchangeable for a total of 187,886 Common Shares, representing an effective issue price of $3.37 per Common Share. </font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On August 31, 2021, the remaining requirements of the third milestone were achieved. Accordingly, 9,392.6 Class B Shares were issued to the Adelia Shareholders, amounting to $317. The Class B Shares are exchangeable for a total of 93,926 Common Shares, representing an effective issue price of $3.38 per Common Share. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Pursuant to the Contribution Agreement certain members of Adelia entered into advisory and&#47;or executive employment arrangements with Cybin upon the Closing and, in such capacity, received, in the aggregate, a grant of options to purchase up to 2,244,100 to acquire Common Shares, pursuant to Cybin&#8217;s equity incentive plan, exercisable for a period of five (5) years and subject to vesting, at an exercise price of $1.74 per Cybin Share. An additional 555,900 options to acquire Common Shares were issued to eligible participants at the direction of the Adelia Shareholders following the Closing.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Off-balance sheet arrangements</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As at September&#160;30, 2021 and the date of this MD&#38;A, other than these contractual obligations and commitments disclosed in note 11 of the Interim Financial Statements, the Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the results of operations or financial condition of the Company.   </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Transactions between related parties</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For the three and six-month periods ended September&#160;30, 2021, the key management personnel of the Company were the board of directors of the Company (the &#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Board</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#34;), the Chief Executive Officer, Chief Financial Officer, Chief </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">41</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Operating Officer, Chief Business Officer, Chief Compliance, Ethics &#38; Administrative Officer, Chief Legal Officer, Chief Innovation Officer, and Chief Scientific Officers. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Compensation for key management personnel of the Company for the three and six-month periods ended September&#160;30, 2021consisted of consulting fees, short term benefits and other compensation of $4,736 and $8,011, respectively (three and six-month periods ended September 30, 2020 - $491 and $2,929). </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Critical accounting estimates</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The preparation of the Company&#8217;s consolidated financial statements requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting year. Actual outcomes could differ from these estimates. The consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the year in which the estimate is revised and future years if the revision affects both current and future years. These estimates are based on historical experience, current and future economic conditions and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Company&#8217;s significant accounting estimates and assumptions are reported in note 3 of the of the Company&#8217;s 2021 annual consolidated financial statements found on SEDAR at</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%"> </font><font style="color:#0563c1;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">New accounting standards and interpretations not yet adopted</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s significant accounting policies are set out in note 2 of the of the Company&#8217;s 2021 annual consolidated financial statements found on SEDAR at </font><font style="color:#0563c1;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. This MD&#38;A should be read in conjunction with the Financial Statements. Other accounting standards or amendments to existing accounting standards that have been issued, but have future effective dates, are either not applicable or are not expected to have a significant impact on the Company&#8217;s financial statements. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Disclosure controls and procedures</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Management maintains appropriate information systems, procedures and controls to provide reasonable assurance that information that is publicly disclosed is complete, reliable and timely. The Chief Executive Officer (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CEO</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and Chief Financial Officer (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CFO</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) of the Company, along with the assistance of senior management under their supervision, have designed disclosure controls and procedures to provide reasonable assurance that material information relating to the Company is made known to the CEO and CFO, and have designed internal controls over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with IFRS.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Internal Control over Financial Reporting</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with applicable IFRS.  Internal control over financial reporting should include those policies and procedures that establish the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">maintenance of records in reasonable detail, that accurately and fairly reflect the transactions and dispositions of assets&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with applicable IFRS&#59;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">receipts and expenditures are only being made in accordance with authorizations of management or the Board&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company&#8217;s assets that could have a material effect on the financial instruments.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">During the period ended September&#160;30, 2021, the Company did not make any significant changes to its internal controls over financial reporting that would have materially affected, or reasonably likely to materially affect, its internal controls over financial reporting. </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">42</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Limitations of Disclosure Controls and Procedures and Internal Control over Financial Reporting</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s management, including the CEO and the CFO, believe that due to inherent limitations, any disclosure controls and procedures or internal control over financial reporting, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives. These inherent limitations include, among other items&#58; (i) that management&#8217;s assumptions and judgments could ultimately prove to be incorrect under varying conditions and circumstances&#59; (ii) the impact of any undetected errors&#59; and (iii)&#160;that controls may be circumvented by the unauthorized acts of individuals, by collusion of two or more&#160;people, or by management override.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Accordingly, because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected. </font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Subsequent Events</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On October 1, 2021, the Company announced the appointment of Dr. Amir Inamdar as Chief Medical Officer for European Operations and Dr. Geoff Varty as the Head of Research and Development.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">During the period from October 1, 2021 to  November&#160;12, 2021, holders of options and warrants exercised securities resulting in the issuance of 498,500 Common Shares for gross proceeds of approximately $291.</font></div><div style="margin-bottom:0.12pt;margin-top:10pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On October 7, 2021, Adelia completed a portion of certain milestones for Year 2 Q1 (i)-(iii), as contemplated by the terms of the contribution agreement. Accordingly, Class B Shares having an aggregate value of $707 became due to be issued to the Adelia Shareholders, at a price per share to be determined in accordance with the terms of the contribution agreement and applicable securities laws.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On November 4, 2021, the Company announced that it has been granted a Schedule I manufacturing license from the DEA. The DEA license is for the Company&#8217;s research lab in the Boston area. The license will allow the Company to further become a hub for innovation and drug discovery. Previously, the Company conducted much of its research and development work through globally licensed research organizations in the U.S., Canada, and the UK, and through certain in-house capabilities. With the DEA license, the Company expects to be able to expand its internal R&#38;D capabilities to support innovative drug discovery and delivery involving Schedule I compounds.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On November 8, 2021, the Company announced positive CYB003 pre-clinical findings that demonstrate multiple potential advantages for its novel deuterated psilocybin analog over oral psilocybin for the potential treatment of mental health, including less patient variability, faster onset of action, shorter duration of effect and improved brain penetration. As a result of the positive CYB003 pre-clinical data, the Company will be prioritizing the development of this molecule, while leveraging the work that has been done to date on both the Psilocybin Program and the CYB003 Deuterated Psilocybin Analog Program.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:115%">On November 10, 2021, the Company approved the amendment of the terms of 1,150,000 Common Share purchase warrants such that the expiry date was extended from June 15, 2025 to November 15, 2025, subject to approval of the Neo Exchange Inc.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Subsequent to quarter end, the Company made the decision to not proceed with the Natures Journey business segment, including the Product Line, in order to prioritize its progression of its research and development of psychedelic pharmaceutical products and that it no longer anticipates to conduct any business activities in Jamaica. The Company intends to complete future clinical trials in the U.S. and the UK.</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Risk Factors </font></div><div style="margin-top:12.05pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:105%">In addition to the risks described herein, reference is made to the section entitled &#8220;Risk Factors&#8221; in the AIF, which is incorporated herein by reference. The risks described herein are not the only risks faced by the Company and securityholders of the Company. Additional risks and uncertainties not currently known to the Company, or that the Company currently deems immaterial, may also materially and adversely affect its business. The business, financial condition, revenues or profitability of the Company could be materially adversely affected by any of the risks set forth in this MD&#38;A. The trading price of the Common Shares could decline due to any of these risks and investors could lose all or part of their investment. This MD&#38;A contains forward-looking statements that involve risks and </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">43</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-top:12.05pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:105%">uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks faced by the Company described below and elsewhere in this MD&#38;A. No inference should be drawn, nor should an investor place undue importance on, the risk factors that are included in this MD&#38;A as compared to those included in other documents publicly filed by the Company, as all risk factors are important and should be carefully considered by a potential investor.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Risks Related to the Company </font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"><br></font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Forward-looking statements may prove to be inaccurate</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:105%">Investors should not place undue reliance on forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, of both general and specific nature, that could cause actual results to differ materially from those suggested by the forward-looking statements or contribute to the possibility that predictions, forecasts or projections will prove to be materially inaccurate. Additional information on the risks, assumptions and uncertainties can be found in this MD&#38;A under the heading &#8220;Cautionary Note Regarding Forward-Looking Information&#8221;.</font></div><div style="margin-top:12.45pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:104%">Potential Dilution</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company may issue additional Common Shares in subsequent offerings (including through the sale of securities convertible into or exchangeable for Common Shares) and on the exercise of stock options or other securities exercisable for Common Shares. The Company cannot predict the size of future issuances of Common Shares or the effect that future issuances and sales of Common Shares will have on the market price of the Common Shares. Issuances of a substantial number of additional Common Shares, or the perception that such issuances could occur, may adversely affect prevailing market prices for the Common Shares. With any additional issuance of Common Shares, investors will suffer dilution to their voting power and the Company may experience dilution in its earnings per share.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Potential need for Additional Financing</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The continued development of the Company will require additional financing. The Company&#8217;s activities do have scope for flexibility in terms of the amount and timing of expenditures, and expenditures may be adjusted accordingly. However, further operations will require additional capital and will depend on the Company&#8217;s ability to obtain financing through debt, equity or other means. The Company&#8217;s ability to meet its obligations and maintain operations may be contingent upon successful completion of additional financing arrangements. There is no assurance that the Company will be successful in obtaining the required financing in the future or that such financing will be available on terms acceptable to the Company. In addition, any future financing may also be dilutive to existing shareholders of the Company.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Negative operating cash flow and going concern</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has negative cash flow from operating activities and has historically incurred net losses. There is no assurance that sufficient revenues will be generated in the near future. To the extent that the Company has negative operating cash flows in future periods, it may need to deploy a portion of its existing working capital to fund such negative cash flows. The Company will be required to raise additional funds through the issuance of additional equity securities or through loan financing. There is no assurance that additional capital or other types of financing will be available if needed or that these financings will be on terms at least as favourable to the Company as those previously obtained, or at all. The Company&#8217;s ability to successfully raise additional capital and maintain liquidity may by impaired by factors outside of its control, such as a shift in consumer attitudes towards certain therapeutic methods or a downturn in the economy.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Any inclusion in the Company&#8217;s financial statements of a going concern opinion may negatively impact the Company's ability to raise future financing and achieve future revenue. The threat of the Company's ability to continue as a going concern will be removed only when, in the opinion of the Company's auditor, the Company's revenues have reached a level that is able to sustain its business operations. If the Company is unable to obtain additional financing from outside sources and eventually generate enough revenues, the Company may be forced to sell a portion or all of the Company's assets, or curtail or discontinue the Company's operations. If any of these events happen, you could lose all or part of your investment. The Company&#8217;s financial statements do not include any adjustments to the </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">44</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Company&#8217;s recorded assets or liabilities that might be necessary if the Company becomes unable to continue as a going concern.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Discretion over the Use of Proceeds</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The results and the effectiveness of the application of the net proceeds are uncertain. If the net proceeds are not applied effectively, the Company's business, prospects, financial position, financial condition or results of operations may suffer.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Management of Growth</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:124%">The Company may be subject to growth-related risks including capacity constraints and pressure on its internal systems and controls. The ability of the Company to manage growth effectively will require it to continue to implement and improve its operational and financial systems and to expand, train and manage its employee base. The inability of the Company to deal with this growth may have a material adverse effect on the Company&#8217;s business, financial condition, results of operations and prospects.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">The Common Shares are Subject to Market Price Volatility</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The market price of the Common Shares may be adversely affected by a variety of factors relating to the Company&#8217;s business, including fluctuations in the Company&#8217;s operating and financial results, the results of any public announcements made by the Company and the Company&#8217;s failure to meet analysts&#8217; expectations. In addition, from time to time, the stock market experiences significant price and volume volatility that may affect the market price of the Common Shares for reasons unrelated to the Company&#8217;s performance. Additionally, the value of the Common Shares is subject to market value fluctuations based upon factors that influence the Company&#8217;s operations, such as legislative or regulatory developments, competition, technological change, global capital market activity and changes in interest and currency rates. There can be no assurance that the market price of the Common Shares will not experience significant fluctuations in the future, including fluctuations that are unrelated to the Company&#8217;s performance.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The value of Common Shares will be affected by the general creditworthiness of the Company. The AIF discusses, among other things, known material trends and events, and risks or uncertainties that are reasonably expected to have a material effect on the Company&#8217;s business, financial condition or results of operations.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The market value of the Common Shares may also be affected by the Company&#8217;s financial results and political, economic, financial and other factors that can affect the capital markets generally, the stock exchanges on which the Common Shares are traded and the market segment of which the Company is a part.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">No History of Payment of Cash Dividends </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has never declared or paid cash dividends on the Common Shares. The Company intends to retain future earnings to finance the operation, development and expansion of the business. The Company does not anticipate paying cash dividends on the Common Shares in the foreseeable future. Payment of future cash dividends, if any, will be at the discretion of the Board and will depend on the Company&#8217;s financial condition, results of operations, contractual restrictions, capital requirements, business prospects and other factors that the board considers relevant.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Risks relating to Research and Development Milestones</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">There is no assurance that the Company&#8217;s anticipated milestones will be achieved within the time periods specified, or at all. The failure to achieve these milestones could negatively impact the Company&#8217;s ability to raise additional funds required for operations and research and development activities, and could, in turn, impact the financial viability of the Company. There is also no assurance that the Company&#8217;s research and development activities will continue to result in commercially viable products.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">45</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Risks Related to the Company&#8217;s Business and Industry</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Novel Coronavirus &#8220;COVID-19&#8221;</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The outbreak of the novel strain of coronavirus, specifically identified as &#8220;COVID-19&#8221;, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, including the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Governments and central banks have reacted with significant monetary and fiscal interventions designed to stabilize economic conditions. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company and its operating subsidiaries in future periods. However, depending on the length and severity of the pandemic, COVID-19 could impact the Company&#8217;s operations, could cause delays relating to approval from Health Canada, the FDA and equivalent organizations in other countries, could postpone research activities, and could impair the Company&#8217;s ability to raise funds depending on COVID-19s effect on capital markets.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The rapid development of the COVID-19 pandemic and the measures being taken by governments and private parties to respond to it are extremely fluid. While the Company has continuously sought to assess the potential impact of the pandemic on its operations, any assessment is subject to extreme uncertainty as to probability, severity and duration. The Company has attempted to assess the impact of the pandemic by identifying risks in the following principle areas&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">Mandatory Closure.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> In response to the pandemic, many provinces, states and localities have implemented mandatory shut-downs of business to prevent the spread of COVID-19. In the locations where the Company operates or conducts research activity, these activities have been deemed an &#34;essential service&#34;, and thus not subject to the mandatory closures applicable to nonessential businesses. The Company's ability to generate revenue and meet its milestones could be materially impacted by any shut down of operations or services.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">Research and Development Disruptions</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. The Company relies on a third parties for its research and development activities. If these third parties are unable to continue operating due to mandatory closures or other effects of the pandemic, it may negatively impact the Company's ability to meet its milestones and may significantly delay development. At this time, the Company has not experienced any significant disruptions.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">Staffing Disruption</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">. The Company is, for the time being, implementing among its staff where feasible &#34;social distancing&#34; measures recommended by local authorities. The Company has cancelled nonessential travel by employees, implemented remote meetings where possible, and permitted all staff who can work remotely to do so. For those whose duties require them to work on-site, measures have been implemented to reduce infection risk, such as reducing contact with patients, mandating additional cleaning and hand disinfection and providing masks and gloves to certain personnel. Nevertheless, despite such measures, the Company may find it difficult to ensure that its operations remain staffed due to employees falling ill with COVID-19, becoming subject to quarantine, or deciding not to come to come to work on their own volition to avoid infection. </font></div><div style="padding-left:36pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is actively addressing the risk to business continuity represented by each of the above factors through the implementation of a broad range of measures throughout its structure and is re-assessing its response to the COVID-19 pandemic on an ongoing basis. The above risks individually or collectively may have a material impact on the Company's ability to generate revenue. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has sufficient cash on hand raised via equity financings to fund its operations for the next 12-months and meet its working capital requirements.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">It is anticipated that the long-term goals of the Company will require additional capital contributions via debt or equity financings. In the event that the impact of COVID-19 worsens and negatively affects capital markets generally, there is a risk that the Company may not be able to secure funding for these long-term objectives. </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Limited Operating History</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Common Shares commenced trading on the Exchange on November 10, 2020 on a post-Reverse Takeover basis and therefore the Company has a limited operating history as a public company. To operate effectively, the Company will be required to continue to implement changes in certain aspects of its business, improve information systems and develop, manage and train management-level and other employees to comply with ongoing public company requirements. Failure to take such actions, or delay in implementation thereof, could adversely affect the business, </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">46</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">financial condition, liquidity and results of operations of the Company and, more specifically, could result in regulatory penalties, market criticism or the imposition of cease trade orders in respect of the Common Shares. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company will be subject to all of the business risks and uncertainties associated with any new business enterprise, including the risk that it will not achieve its operating goals. In order for the Company to meet future operating and debt service requirements, it will need to be successful in its growth, marketing and sales efforts. Additionally, where the Company experiences increased production and future sales, its current operational infrastructure may require changes to scale its business efficiently and effectively to keep pace with demand and achieve long-term profitability. If the Company&#8217;s products and services are not accepted by new customers, the Company&#8217;s operating results may be materially and adversely affected.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Achieving Publicly Announced Milestones</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">From time to time, the Company may announce the timing of certain events it expects to occur, such as the anticipated timing of results from clinical trials. These statements are forward-looking and are based on the best estimates of management at the time relating to the occurrence of such events. However, the actual timing of such events may differ from what has been publicly disclosed. The timing of events such as initiation or completion of a clinical trial, filing of an application to obtain regulatory approval, or announcement of additional clinical trials for a prescription drug product candidate may ultimately vary from what is publicly disclosed. See &#8220;Safety and Efficacy of Products&#8221;, &#8220;Completion of Clinical Trials&#8221;, and &#8220;Nature of Regulatory Approvals&#8221; as discussed under this heading &#8220;Risk Factors&#8221; for further disclosure of risks and events that may affect the timing of certain events the Company may announce.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company undertakes no obligation to update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise, except as otherwise required by-law. Any variation in the timing of previously announced milestones could have a material adverse effect on the Company&#8217;s business plan, financial condition or operating results and the trading price of the Common Shares.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Speculative Nature of Investment Risk</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">An investment in the securities of the Company carries a high degree of risk and should be considered as a speculative investment. The Company has no history of earnings, limited cash reserves, limited operating history, has not paid dividends, and is unlikely to pay dividends in the immediate or near future.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Early Stage of the Industry and Product Development </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Given the early stage of its prescription drug product development, the Company can make no assurance that its research and development programs will result in regulatory approval or commercially viable products. To achieve profitable operations, the Company, alone or with others, must successfully develop, gain regulatory approval for, and market its future products. The Company currently has no products that have been approved by Health Canada, the MOH, the FDA, or any similar regulatory authority. To obtain regulatory approvals for its prescription drug product candidates being developed and to achieve commercial success, clinical trials must demonstrate that the prescription drug product candidates are safe for human use and that they demonstrate efficacy. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Many prescription drug product candidates never reach the stage of clinical testing and even those that do have only a small chance of successfully completing clinical development and gaining regulatory approval. Prescription drug product candidates can fail for a number of reasons, including, but not limited to, being unsafe for human use or due to the failure to provide therapeutic benefits equal to or better than the standard of treatment at the time of testing. Unsatisfactory results obtained from a particular study relating to a research and development program may cause the Company or its collaborators to abandon commitments to that program. Positive results of early preclinical research may not be indicative of the results that will be obtained in later stages of preclinical or clinical research. Similarly, positive results from early-stage clinical trials may not be indicative of favourable outcomes in later-stage clinical trials, and the Company can make no assurance that any future studies, if undertaken, will yield favourable results.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The early stage of the Company&#8217;s product development makes it particularly uncertain whether any of its product development efforts will prove to be successful and meet applicable regulatory requirements, and whether any of its prescription drug product candidates will receive the requisite regulatory approvals, be capable of being manufactured at a reasonable cost or be successfully marketed. If the Company is successful in developing its current and future </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">47</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">prescription drug product candidates into approved products, it will still experience many potential obstacles, which would affect its ability to successfully market and commercialize such approved products, such as the need to develop or obtain manufacturing, marketing and distribution capabilities, price pressures from third-party payors, or proposed changes in health care systems. If the Company is unable to successfully market and commercialize any of its products, its financial condition and results of operations may be materially and adversely affected.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company can make no assurance that any future studies, if undertaken, will yield favorable results. Many companies in the pharmaceutical and biotechnology industries have suffered significant setbacks in later-stage clinical trials after achieving positive results in early-stage development, and the Company cannot be certain that it will not face similar setbacks. These setbacks have been caused by, among other things, preclinical findings made while clinical trials were underway or safety or efficacy observations made in clinical trials, including previously unreported adverse events. Moreover, preclinical and clinical data are often susceptible to varying interpretations and analyses, and many companies that believed their prescription drug product candidates performed satisfactorily in preclinical studies and clinical trials nonetheless failed to obtain Health Canada, MOH or FDA approval. If the Company fails to produce positive results in future clinical trials and other programs, the development timeline and regulatory approval and commercialization prospects for the Company&#8217;s leading prescription drug product candidates, and, correspondingly, its business and financial prospects, would be materially adversely affected.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Preclinical testing and clinical trials for the Company&#8217;s products may not achieve the desired results. The results of preclinical testing and clinical trials are uncertain. Product approvals are subject to a number of contingencies and may not be obtained in the time expected or at all. The Company&#8217;s products may not attract a following among patients, retailers and&#47;or providers. The Company expects to face an inherent risk of exposure to product liability claims, regulatory action and litigation if the products it plans to distribute are alleged to have caused loss or injury. There can be no assurance that the Company will be able to obtain or maintain product liability insurance on acceptable terms or with adequate coverage against potential liabilities.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s business relies on its ability to access, develop, and sell psilocybin. Psilocybin is a controlled substance in many jurisdictions, including in Canada under Schedule III of the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Controlled Drugs and Substances Act </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">and in the United States. The Company may face difficulty accessing psilocybin and the public capital markets in Canada as a result of the response of regulators, stock exchanges, and other market participants to the Company&#8217;s development and sale of a controlled substance. The Company may also have limited access to traditional banking services, as well as limited access to debt financing from traditional institutional lenders. The medical efficacy of psilocybin has not been confirmed and requires further study and scientific rigour.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Regulatory Risks and Uncertainties</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In Canada, certain psychedelic drugs, including psilocybin, are classified as Schedule III drugs under the CDSA and as such, medical and recreational use is illegal under Canadian federal laws. In the United States, certain psychedelic drugs, including psilocybin, are classified as Schedule I drugs under the CSA and the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Controlled Substances Import and Export Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> and as such, medical and recreational use is illegal under the U.S. federal laws. There is no guarantee that psychedelic drugs or psychedelic inspired drugs will ever be approved as medicines in any jurisdiction in which the Company operates. All activities involving such substances by or on behalf of the Company are conducted in accordance with applicable federal, provincial, state and local laws. Further, all facilities engaged with such substances by or on behalf of the Company do so under current licences and permits issued by appropriate federal, provincial and local governmental agencies. While the Company is focused on programs using psychedelic inspired compounds, the Company does not have any direct or indirect involvement with the illegal selling, production or distribution of any substances in the jurisdictions in which it operates and does not intend to have any such involvement. However, the laws and regulations generally applicable to the industry in which the Company is involved in may change in ways currently unforeseen. Any amendment to or replacement of existing laws or regulations, including the classification or re-classification of the substances the Company is developing or working with, which are matters beyond the Company's control, may cause the Company's business, financial condition, results of operations and prospects to be adversely affected or may cause the Company to incur significant costs in complying with such changes or it may be unable to comply therewith. A violation of any applicable laws and regulations of the jurisdictions in which the Company operates could result in significant fines, penalties, administrative sanctions, convictions or settlements arising from civil proceedings initiated by either government entities in the jurisdictions in which the Company operates, or private citizens or criminal charges. </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">48</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The loss of the necessary licences and permits for Schedule III drugs could have an adverse effect on the Company&#8217;s operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The psychedelic drug industry is a fairly new industry and the Company cannot predict the impact of the ever-evolving compliance regime in respect of this industry. Similarly, the Company cannot predict the time required to secure all appropriate regulatory approvals for future products, or the extent of testing and documentation that may, from time to time, be required by governmental authorities. The impact of compliance regimes, any delays in obtaining, or failure to obtain regulatory approvals may significantly delay or impact the development of markets, its business and products, and sales initiatives and could have a material adverse effect on the business, financial condition and operating results of the Company.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The success of the Company&#8217;s business is dependent on the reform of controlled substances laws pertaining to psilocybin. If controlled substances laws are not favourably reformed in Canada, the United States, the UK, and other global jurisdictions, the commercial opportunity that the Company is pursuing may be highly limited.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company makes no medical, treatment or health benefit claims about the Company&#8217;s proposed products. The FDA, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, DMT, psilocybin analogues, or other psychedelic compounds. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, DMT, psilocybin analogues, or other psychedelic compounds can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company&#8217;s performance and operations. </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Plans for Growth </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to grow rapidly and significantly expand its operations within the next 12 to 24 months. This growth will place a significant strain on the Company&#8217;s management systems and resources. The Company will not be able to implement its business strategy in a rapidly evolving market, without an effective planning and management process. In particular, the Company may be required to manage multiple relationships with various strategic industry participants and other third parties, which relationships could be strained in the event of rapid growth. Similarly, a large increase in the number of third-party relationships the Company has, may lead to management of the Company being unable to manage growth effectively. The occurrence of such events may result in the Company being unable to successfully identify, manage and exploit existing and potential market opportunities. </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Limited Products</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company will be heavily reliant on the production and distribution of psychedelics and related products. If they do not achieve sufficient market acceptance, it will be difficult for the Company to achieve profitability.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s revenue will be derived almost exclusively from sales of psychedelic pharmaceutical products, and the Company expects that its psychedelic pharmaceutical products will account for substantially all of its revenue for the foreseeable future. If the psychedelic pharmaceutical market declines or psychedelics fail to achieve substantially greater market acceptance than it currently enjoys, the Company will not be able to grow its revenues sufficiently for it to achieve consistent profitability.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Even if products to be distributed by the Company conform to international safety and quality standards, sales could be adversely affected if consumers in target markets lose confidence in the safety, efficacy, and quality of psychedelic pharmaceutical products. Adverse publicity about psychedelic pharmaceutical products that the Company sells may discourage consumers from buying products distributed by the Company. </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Limited Marketing and Sales Capabilities</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company will, for the immediate future, have limited marketing and sales capabilities, and there can be no assurance that it will be able to develop or acquire these capabilities at the level needed to produce and deliver for sale, through industry partners, its products in sufficient commercial quantities. Further, there can be no assurance that the </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">49</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Company, either on its own or through arrangements with other industry participants, will be able to develop or acquire such capabilities on a cost-effective basis, or at all. Finally, there can be no assurance that the Company&#8217;s industry partners will be able to market or sell the Company&#8217;s products in compliance with requisite regulatory protocols or on a cost-effective basis. The Company&#8217;s dependence upon third parties for the production, and marketing or sale, as applicable, of the Company&#8217;s products could have a material adverse effect on the Company&#8217;s business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">No Assurance of Commercial Success</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The successful commercialization of the Company&#8217;s products will depend on many factors, including, the Company&#8217;s ability to establish and maintain working partnerships with industry participants in order to market its products, the Company&#8217;s ability to supply a sufficient amount of its products to meet market demand, and the number of competitors within each jurisdiction within which the Company may from time to time be engaged. There can be no assurance that the Company or its industry partners will be successful in their respective efforts to develop and implement, or assist the Company in developing and implementing, a commercialization strategy for the Company&#8217;s products.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">No Profits or Significant Revenues</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has no history upon which to evaluate its performance and future prospects. The Company&#8217;s proposed operations are subject to all the business risks associated with new enterprises. These include likely fluctuations in operating results as the Company makes significant investments in research, development and product opportunities, and reacts to developments in its market, including purchasing patterns of customers, and the entry of competitors into the market. The Company will only be able to pay dividends on any shares once its directors determine that it is financially able to do so. The Company cannot make any assurance that it will be profitable in the next three years or generate sufficient revenues to pay dividends to the holders of the Common Shares.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Reliance on Third Parties for Clinical Development Activities</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company relies and will continue to rely on third parties to conduct a significant portion of its preclinical and clinical development activities. For example, clinical development activities include trial design, regulatory submissions, clinical patient recruitment, clinical trial monitoring, clinical data management and analysis, safety monitoring and project management. If there is any dispute or disruption in its relationship with third parties, or if it is unable to provide quality services in a timely manner and at a feasible cost, the Company&#8217;s active development programs will face delays. Further, if any of these third parties fails to perform as the Company expects or if their work fails to meet regulatory requirements, the Company&#8217;s testing could be delayed, cancelled or rendered ineffective.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Risks Related to Third Party Relationships</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company intends to enter into strategic alliances with third parties that the Company believes will complement or augment its proposed business or will have a beneficial impact on the Company. Strategic alliances could present unforeseen integration obstacles or costs, may not enhance the Company&#8217;s business, and may involve risks that could adversely affect the Company, including significant amounts of management time that may be diverted from operations in order to pursue and complete such transactions or maintain such strategic alliances. Future strategic alliances could result in the incurrence of additional debt, costs and contingent liabilities, and there can be no assurance that future strategic alliances will achieve, or that the Company&#8217;s existing strategic alliances will continue to achieve, the expected benefits to the Company&#8217;s business or that the Company will be able to consummate future strategic alliances on satisfactory terms, or at all. Any of the foregoing could have a material adverse effect on the Company&#8217;s business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition to the foregoing, the success of the Company&#8217;s business will depend, in large part, on the Company&#8217;s ability to enter into, and maintain collaborative arrangements with various participants in the psychedelic pharmaceutical industry. There can be no assurance that the Company will be able to enter into collaborative arrangements in the future on acceptable terms, if at all. There can be no assurance that such arrangements will be successful, that the parties with which the Company has or may establish arrangements will adequately or successfully perform their obligations under such arrangements, that potential partners will not compete with the Company by seeking or prioritizing alternate, competitor products. The termination or cancellation of any such collaborative arrangement or the failure of the Company and&#47;or the other parties to these arrangements to fulfill their obligations </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">50</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">could have a material adverse effect on the Company&#8217;s business, financial condition and results of operations. In addition, disagreements between the Company and any of its industry partners could lead to delays or time consuming and expensive legal proceedings, which could have a material adverse effect on the Company&#8217;s business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Reliance on Contract Manufacturers</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has limited manufacturing experience and relies on contract manufacturing organizations (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">CMOs</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) to manufacture its prescription drug product candidates for preclinical studies and clinical trials. The Company relies on CMOs for manufacturing, filling, packaging, storing and shipping of drug product in compliance with cGMP regulations applicable to its products. Health Canada and the FDA, in Canada and the U.S., respectively, ensure the quality of food, drug products and dietary supplements by carefully monitoring drug manufacturers&#8217; compliance with cGMP regulations. The cGMP regulations for drugs contain minimum requirements for the methods, facilities and controls used in manufacturing, processing and packing of a drug product. There can be no assurances that CMOs will be able to meet the Company&#8217;s timetable and requirements. The Company has not contracted with alternate suppliers for drug substance production in the event that the current provider is unable to scale up production, or if it otherwise experiences any other significant problems. If the Company is unable to arrange for alternative third-party manufacturing sources on commercially reasonable terms or in a timely manner, the Company may be delayed in the development of its prescription drug product candidates. Further, CMOs must operate in compliance with cGMP and ensure that their appropriate permits and licences remain in good standing and failure to do so could result in, among other things, the disruption of product supplies. The Company&#8217;s dependence upon third parties for the manufacture of its products may adversely affect its profit margins and its ability to develop and deliver products on a timely and competitive basis.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Safety and Efficacy of Products </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Before obtaining marketing approval from regulatory authorities for the sale of the Company&#8217;s prescription drug product candidates, the Company must conduct preclinical studies in animals and extensive clinical trials in humans to demonstrate the safety and efficacy of the prescription drug product candidates. Clinical testing is expensive and difficult to design and implement, can take many years to complete and has uncertain outcomes. The outcome of preclinical studies and early clinical trials may not predict the success of later clinical trials, and interim results of a clinical trial do not necessarily predict final results. A number of companies in the pharmaceutical and biotechnology industries have suffered significant setbacks in advanced clinical trials due to lack of efficacy or unacceptable safety profiles, notwithstanding promising results in earlier trials. The Company does not know whether the clinical trials it may conduct will demonstrate adequate efficacy and safety to result in regulatory approval to market any of its prescription drug product candidates in any jurisdiction. A prescription drug product candidate may fail for safety or efficacy reasons at any stage of the testing process. A major risk the Company faces is the possibility that none of its prescription drug product candidates under development will successfully gain market approval from Health Canada, the FDA or other regulatory authorities, resulting in the Company being unable to derive any commercial revenue from them after investing significant amounts of capital in their development.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Clinical trials are conducted in representative samples of the potential patient population which may have significant variability. Clinical trials are by design based on a limited number of subjects and of limited duration for exposure to the product used to determine whether, on a potentially statistically significant basis, the planned safety and efficacy of any such product can be achieved. As with the results of any statistical sampling, the Company cannot be sure that all side effects of its products may be uncovered, and it may be the case that only with a significantly larger number of patients exposed to such product for a longer duration, may a more complete safety profile be identified. Further, even larger clinical trials may not identify rare serious adverse effects, or the duration of such studies may not be sufficient to identify when those events may occur. There have been products that have been approved by the regulatory authorities but for which safety concerns have been uncovered following approval. Such safety concerns have led to labelling changes or withdrawal of such products from the market, and the Company&#8217;s products may be subject to similar risks. The Company might have to withdraw or recall its products from the marketplace. The Company may also experience a significant drop in the potential future sales of its products if and when regulatory approvals for such products are obtained, experience harm to its reputation in the marketplace or become subject to lawsuits, including class actions. Any of these results could decrease or prevent any sales of the Company&#8217;s products, or substantially increase the costs and expenses of commercializing and marketing its products.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">51</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Clinical Testing and Commercializing Products </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Before obtaining marketing approval from regulatory authorities for the sale of the Company&#8217;s prescription drug product candidates, it must conduct pre-clinical studies in animals and extensive clinical trials in humans to demonstrate the safety and efficacy of the prescription drug product candidates. Clinical testing is expensive and difficult to design and implement, can take many years to complete and has uncertain outcomes. The outcome of pre-clinical studies and early clinical trials may not predict the success of later clinical trials, and interim results of a clinical trial do not necessarily predict final results. A number of companies in the pharmaceutical and biotechnology industries have suffered significant setbacks in advanced clinical trials due to lack of efficacy or unacceptable safety profiles, notwithstanding promising results in earlier trails. The Company does not know whether the clinical trials it may conduct will demonstrate adequate efficacy and safety to result in regulatory approval to market any of its prescription drug product candidates in any jurisdiction. A prescription drug product candidate may fail for safety or efficacy reasons at any stage of the testing process. A major risk the Company faces is the possibility that none of its prescription drug product candidates under development will successfully gain market approval from the FDA, or other regulatory authorities, resulting in the Company being unable to derive any commercial revenue from this business segment after investing significant amounts of capital in its development. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company cannot predict whether any clinical trials will begin as planned, will need to be restructured, or will be completed on schedule, or at all. The Company&#8217;s product development costs will increase if it experiences delays in clinical testing. Significant clinical trial delays could shorten any periods during which the Company may have the exclusive right to commercialize its prescription drug product candidates or allow its competitors to bring products to market before the Company, which would impair the Company&#8217;s ability to successfully commercialize its prescription drug product candidates and may harm its financial condition, results of operations and prospects.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The commencement and completion of clinical trials for the Company&#8217;s prescription drug product candidates may be delayed for a number of reasons, including but not limited, to&#58;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">failure by regulatory authorities to grant permission to proceed or placing clinical trials on hold&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">suspension or termination of clinical trials by regulators for many reasons, including concerns about patient safety or failure of the Company&#8217;s CMOs to comply with cGMP requirements&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">any changes to the Company&#8217;s manufacturing process that may be necessary or desired, delays or failure to obtain clinical supply from CMOs of the Company&#8217;s products necessary to conduct clinical trials&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">prescription drug product candidates demonstrating a lack of safety or efficacy during clinical trials, reports of clinical testing on similar technologies and products raising safety or efficacy concerns&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">clinical investigators not performing the Company&#8217;s clinical trials on their anticipated schedule, dropping out of a trial, or employing methods not consistent with the clinical trial protocol, regulatory requirements or other third parties not performing data collection and analysis in a timely or accurate manner&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">failure of the Company&#8217;s contract research organizations to satisfy their contractual duties or meet expected deadlines&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">inspections of clinical trial sites by regulatory authorities&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">regulatory authorities or ethics committees finding regulatory violations that require the Company to undertake corrective action, resulting in suspension or termination of one or more sites or the imposition of a clinical hold on the entire study&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">one or more regulatory authorities or ethics committees rejecting, suspending or terminating the study at an investigational site, precluding enrollment of additional subjects, or withdrawing its approval of the trial&#59; or</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">failure to reach agreement on acceptable terms with prospective clinical trial sites.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s product development costs will increase if it experiences delays in testing or approval or if the Company needs to perform more or larger clinical trials than planned. Additionally, changes in regulatory requirements and policies may occur, and the Company may need to amend study protocols to reflect these changes. Amendments may require the Company to resubmit its study protocols to regulatory authorities or ethics committees for re-examination, which may impact the cost, timing or successful completion of that trial. Delays or increased product development costs may have a material adverse effect on the Company&#8217;s business, financial condition and prospects.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">52</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Prior to commencing clinical trials in Canada, the United States, the UK, or other jurisdictions, for any prescription drug product candidates developed by the Company, it may be required to have an allowed an IND (or equivalent) for each prescription drug product candidate and to file additional INDs prior to initiating any additional clinical trials. The Company believes that the data from its studies will support the filing of additional INDs to enable the Company to undertake additional clinical studies as it has planned. However, submission of an IND (or equivalent) may not result in the FDA (or equivalent authorities) allowing further clinical trials to begin and, once begun, issues may arise that will require the Company to suspend or terminate such clinical trials.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Additionally, even if relevant regulatory authorities agree with the design and implementation of the clinical trials set forth in an IND, these regulatory authorities may change their requirements in the future. Failure to submit or have effective INDs (or equivalent) and commence or continue clinical programs will significantly limit its opportunity to generate revenue.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Completion of Clinical Trials</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As the Company&#8217;s prescription drug product candidates advance from preclinical testing to clinical testing, and then through progressively larger and more complex clinical trials, the Company will need to enroll an increasing number of patients that meet its eligibility criteria. There is significant competition for recruiting patients in clinical trials, and the Company may be unable to enroll the patients it needs to complete clinical trials on a timely basis or at all. The factors that affect the Company&#8217;s ability to enroll patients are largely uncontrollable and include, but are not limited to, the size and nature of the patient population, eligibility and exclusion criteria for the trial, design of the clinical trial, competition with other companies for clinical sites or patients, perceived risks and benefits of the prescription drug product candidate, and the number, availability, location and accessibility of clinical trial sites.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Commercial Grade Product Manufacturing </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s prescription drug products will be manufactured in small quantities for pre-clinical studies and clinical trials by third party manufacturers. In order to commercialize its product, the Company needs to manufacture commercial quality drug supply for use in registration clinical trials. Most, if not all, of the clinical material used in phase III&#47;pivotal&#47;registration studies must be derived from the defined commercial process including scale, manufacturing site, process controls and batch size. If the Company has not scaled up and validated the commercial production of its product prior to the commencement of pivotal clinical trials, it may have to employ a bridging strategy during the trial to demonstrate equivalency of early-stage material to commercial drug product, or potentially delay the initiation or completion of the trial until drug supply is available. The manufacturing of commercial quality product may have long lead times, may be very expensive and requires significant efforts including, but not limited to, scale-up of production to anticipated commercial scale, process characterization and validation, analytical method validation, identification of critical process parameters and product quality attributes, and multiple process performance and validation runs. If the Company does not have commercial drug supply available when needed for pivotal clinical trials, the Company&#8217;s regulatory and commercial progress may be delayed, and it may incur increased product development costs. This may have a material adverse effect on the Company&#8217;s business, financial condition and prospects, and may delay marketing of the product.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Nature of Regulatory Approvals </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s development and commercialization activities and prescription drug product candidates are significantly regulated by a number of governmental entities, including Health Canada and the FDA. Regulatory approvals are required prior to each clinical trial and the Company may fail to obtain the necessary approvals to commence or continue clinical testing. The Company must comply with regulations concerning the manufacture, testing, safety, effectiveness, labeling, documentation, advertising, and sale of products and prescription drug product candidates and ultimately must obtain regulatory approval before it can commercialize a prescription drug product candidate. The time required to obtain approval by such regulatory authorities is unpredictable but typically takes many years following the commencement of preclinical studies and clinical trials. Any analysis of data from clinical activities the Company performs is subject to confirmation and interpretation by regulatory authorities, which could delay, limit or prevent regulatory approval. Even if the Company believes results from its sponsored clinical trials are favorable to support the marketing of its prescription drug product candidates, Health Canada, the FDA or other regulatory authorities may disagree. In addition, approval policies, regulations, or the type and amount of clinical data necessary to gain approval may change during the course of a prescription drug product candidate&#8217;s clinical development and may vary among jurisdictions.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">53</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has not obtained regulatory approval for any prescription drug product candidate and it is possible that none of its existing prescription drug product candidates or any future prescription drug product candidates will ever obtain regulatory approval. The Company could fail to receive regulatory approval for its prescription drug product candidates for many reasons, including, but not limited to failure to demonstrate that a prescription drug product candidate is safe and effective for its proposed indication, failure of clinical trials to meet the level of statistical significance required for approval, failure to demonstrate that a prescription drug product candidate&#8217;s clinical and other benefits outweigh its safety risks, or deficiencies in the manufacturing processes or the failure of facilities of CMOs with whom the Company contracts for clinical and commercial supplies to pass a pre-approval inspection.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">A regulatory authority may require more information, including additional preclinical or clinical data to support approval, which may delay or prevent approval and the Company&#8217;s commercialization plans, or the Company may decide to abandon the development program. If the Company were to obtain approval, regulatory authorities may approve any of its prescription drug product candidates for fewer or more limited indications than the Company request, may grant approval contingent on the performance of costly post-marketing clinical trials, or may approve a prescription drug product candidate with a label that does not include the labeling claims necessary or desirable for the successful commercialization of that prescription drug product candidate. Moreover, depending on any safety issues associated with the Company&#8217;s prescription drug product candidates that garner approval, Health Canada, the MOH, the FDA or other regulatory authorities may impose a risk evaluation and mitigation strategy, thereby imposing certain restrictions on the sale and marketability of such products.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If there are changes in the application of legislation, regulations or regulatory policies, or if problems are discovered with the Company products, or if one of its distributors, licensees or co-marketers fails to comply with regulatory requirements, the regulators could take various actions. These include imposing fines on the Company, imposing restrictions on the Company&#8217;s products or its manufacture and requiring the Company to recall or remove its products from the market. The regulators could also suspend or withdraw the Company&#8217;s Co marketing authorizations, requiring it to conduct additional clinical trials, change its labeling or submit additional applications for marketing authorization. If any of these events occurs, the Company&#8217;s ability to sell its products may be impaired, and it may incur substantial additional expense to comply with regulatory requirements, which could materially adversely affect its business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Unfavourable Publicity or Consumer Perception</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company believes the psychedelic pharmaceutical industry is highly dependent upon consumer perception regarding the safety, efficacy and quality of psychedelic pharmaceutical products. Consumer perception of the Company&#8217;s psychedelic pharmaceutical products can be significantly influenced by scientific research or findings, regulatory investigations, litigation, media attention and other publicity regarding the consumption of psychedelics. There can be no assurance that future scientific research, findings, regulatory proceedings, litigation, media attention or other research findings or publicity will be favourable to the psychedelic pharmaceutical industry or any particular product, or consistent with earlier publicity. Future research reports, findings, regulatory proceedings, litigation, media attention or other publicity that are perceived as less favourable than, or that question, earlier research reports, findings or publicity could have a material adverse effect on the demand for the Company&#8217;s psychedelic products and the business, results of operations, financial condition and cash flows of the Company. The Company&#8217;s dependence upon consumer perceptions means that adverse scientific research reports, findings, regulatory proceedings, litigation, media attention or other publicity, whether or not accurate or with merit, could have a material adverse effect on the Company, the demand for the Company&#8217;s psychedelic products, and the business, results of operations, financial condition and cash flows of the Company. Further, adverse publicity reports or other media attention regarding the safety, efficacy and quality of psychedelic products in general, or the Company&#8217;s psychedelic products and services specifically or associating the consumption of psychedelics with illness or other negative effects or events, could have such a material adverse effect. Such adverse publicity reports or other media attention could arise even if the adverse effects associated with such products resulted from consumers&#8217; failure to consume such products legally, appropriately or as directed.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The psilocybin industry is highly dependent upon consumer perception regarding the medical benefits, safety, efficacy and quality of the psilocybin distributed for medical purposes to such consumers. There can be no assurance that future scientific research or findings on the medical benefits, viability, safety, efficacy and dosing of psilocybin or isolated constituents, regulatory proceedings, litigation, media attention or other research findings or publicity will be favourable to the industry or the Company or any particular product, or consistent with earlier publicity.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">54</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Social Media</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">There has been a recent marked increase in the use of social media platforms and similar channels that provide individuals with access to a broad audience of consumers and other interested persons. The availability and impact of information on social media platforms is virtually immediate and many social media platforms publish user-generated content without filters or independent verification as to the accuracy of the content posted. Information posted about the Company may be adverse to the Company&#8217;s interests or may be inaccurate, each of which may harm the Company&#8217;s business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Biotechnology and Pharmaceutical Market Competition</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The biotechnology and pharmaceutical industries are intensely competitive and subject to rapid and significant technological change. The Company&#8217;s competitors include large, well-established pharmaceutical companies, biotechnology companies, and academic and research institutions developing therapeutics for the same indications the Company is targeting and competitors with existing marketed therapies. Many other companies are developing or commercializing therapies to treat the same diseases or indications for which the Company&#8217;s prescription drug product candidates may be useful. Although there are no approved therapies that specifically target opioid addiction, some competitors use therapeutic approaches that may compete directly with the Company&#8217;s prescription drug product candidates.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Many of the Company&#8217;s competitors have substantially greater financial, technical and human resources than the Company does and have significantly greater experience than the Company in conducting preclinical testing and human clinical trials of product candidates, scaling up manufacturing operations and obtaining regulatory approvals of products. Accordingly, the Company&#8217;s competitors may succeed in obtaining regulatory approval for products more rapidly than the Company does. The Company&#8217;s ability to compete successfully will largely depend on&#58;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">the efficacy and safety profile of its prescription drug product candidates relative to marketed products and other prescription drug product candidates in development&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">the Company&#8217;s ability to develop and maintain a competitive position in the product categories and technologies on which it focuses&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">the time it takes for the Company&#8217;s prescription drug product candidates to complete clinical development and receive marketing approval&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">the Company&#8217;s ability to obtain required regulatory approvals&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">the Company&#8217;s ability to commercialize any of its prescription drug product candidates that receive regulatory approval&#59;</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">the Company&#8217;s ability to establish, maintain and protect intellectual property rights related to its prescription drug product candidates&#59; and</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">acceptance of any of the Company&#8217;s prescription drug product candidates that receive regulatory approval by physicians and other healthcare providers and payers.</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Competitors have developed and may develop technologies that could be the basis for products that challenge the discovery research capabilities of prescription drug product candidates the Company is developing. Some of those products may have an entirely different approach or means of accomplishing the desired therapeutic effect than the Company&#8217;s prescription drug product candidates and may be more effective or less costly than its prescription drug product candidates. The success of the Company&#8217;s competitors and their products and technologies relative to the Company&#8217;s technological capabilities and competitiveness could have a material adverse effect on the future preclinical studies and clinical trials of the Company&#8217;s prescription drug product candidates, including its ability to obtain the necessary regulatory approvals for the conduct of such clinical trials. This may further negatively impact the Company&#8217;s ability to generate future product development programs using psychedelic inspired compounds.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If the Company is not able to compete effectively against its current and future competitors, the Company&#8217;s business will not grow, and its financial condition and operations will substantially suffer.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Further, there can be no assurance that potential competitors of the Company, which may have greater financial, cultivation, production, sales and marketing experience, and personnel and resources than the Company, are not currently developing, or will not in the future develop, products and strategies that are equally or more effective and&#47;or economical as any products or strategies developed by the Company or which would otherwise render the Company&#8217;s business, products and strategies, as applicable, ineffective, or obsolete. Increased competition by larger and better </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">55</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">financed competitors could materially and adversely affect the business, financial condition and results of operations of the Company.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Reliance on Key Executives and Scientists</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The loss of key members of the Company&#8217;s staff, could harm the Company. The Company does not have employment agreements with all members of its staff, although such employment agreements do not guarantee their retention. The Company also depends on its scientific and clinical collaborators and advisors, all of whom have outside commitments that may limit their availability to the Company. In addition, the Company believes that its future success will depend in large part upon its ability to attract and retain highly skilled scientific, managerial, medical, manufacturing, clinical and regulatory personnel, particularly as the Company expands its activities and seeks regulatory approvals for clinical trials. The Company enters into agreements with its scientific and clinical collaborators and advisors, key opinion leaders and academic partners in the ordinary course of its business. The Company also enters into agreements with physicians and institutions who will recruit patients into the Company&#8217;s clinical trials on its behalf in the ordinary course of its business. Notwithstanding these arrangements, the Company faces significant competition for these types of personnel from other companies, research and academic institutions, government entities and other organizations. The Company cannot predict its success in hiring or retaining the personnel it requires for continued growth. The loss of the services of any of the Company&#8217;s executive officers or other key personnel could potentially harm its business, operating results or financial condition.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Employee Misconduct</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Notwithstanding having established an insider trading policy and code of ethics and business conduct (see the AIF for further details), the Company is exposed to the risk of employee fraud or other misconduct. Misconduct by employees could include failures to comply with Health Canada and the FDA regulations, provide accurate information to Health Canada and the FDA, comply with manufacturing standards the Company has established, comply with federal and provincial healthcare fraud and abuse laws and regulations, report financial information or data accurately or disclose unauthorized activities to the Company. In particular, sales, marketing and business arrangements in the healthcare industry are subject to extensive laws and regulations intended to prevent fraud, kickbacks, self-dealing, and other abusive practices. These laws and regulations may restrict or prohibit a wide range of pricing, discounting, marketing and promotion, sales commission, customer incentive programs and other business arrangements. Employee misconduct could also involve the improper use of information obtained in the course of clinical trials, which could result in regulatory sanctions and serious harm to the Company&#8217;s reputation. If any such actions are instituted against the Company, and the Company is not successful in defending itself or asserting its rights, those actions could have a substantial impact on the Company&#8217;s business and results of operations, including the imposition of substantial fines or other sanctions.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Business Expansion and Growth</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company may in the future seek to expand its pipeline and capabilities by acquiring one or more companies or businesses, entering into collaborations, or in-licensing one or more prescription drug product candidates. Acquisitions, collaborations and in-licences involve numerous risks, including, but not limited to substantial cash expenditures, technology development risks, potentially dilutive issuances of equity securities, incurrence of debt and contingent liabilities, some of which may be difficult or impossible to identify at the time of acquisition, difficulties in assimilating the operations of the acquired companies, entering markets in which the Company has limited or no direct experience, and potential loss of the Company&#8217;s key employees or key employees of the acquired companies or businesses.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has experience in making acquisitions, entering collaborations and in-licensing prescription drug product candidates&#59; however, the Company cannot provide assurance that any acquisition, collaboration or in-licence will result in short-term or long-term benefits to it. The Company may incorrectly judge the value or worth of an acquired company or business or in-licensed prescription drug product candidate. In addition, the Company&#8217;s future success would depend in part on its ability to manage the rapid growth associated with some of these acquisitions, collaborations and in-licences. The Company cannot provide assurance that it would be able to successfully combine its business with that of acquired businesses, manage a collaboration or integrate in-licensed prescription drug product candidates. Furthermore, the development or expansion of the Company&#8217;s business may require a substantial capital investment by the Company.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">56</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Negative Results of External Clinical Trials or Studies</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">From time to time, studies or clinical trials on various aspects of biopharmaceutical products are conducted by academic researchers, competitors or others. The results of these studies or trials, when published, may have a significant effect on the market for the biopharmaceutical product that is the subject of the study. The publication of negative results of studies or clinical trials or adverse safety events related to the Company&#8217;s prescription drug product candidates, or the therapeutic areas in which the Company&#8217;s prescription drug product candidates compete, could adversely affect its share price and the Company&#8217;s ability to finance future development of its prescription drug product candidates, and its business and financial results could be materially and adversely affected.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Product Liability</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company currently does not carry any product liability insurance coverage. Even though the Company is not aware of any product liability claims at this time, its business exposes itself to potential product liability, recalls and other liability risks that are inherent in the sale of consumer products. The Company can provide no assurance that such potential claims will not be asserted against it. A successful liability claim or series of claims brought against the Company could have a material adverse effect on its business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Although the Company intends to obtain adequate product liability insurance, it cannot provide any assurances that it will be able to obtain or maintain adequate product liability insurance of on acceptable terms, if at all, or that such insurance will provide adequate coverage against potential liabilities. Claims or losses in excess of any product liability cover that may be obtained by the Company could have a material adverse effect on its business, financial conditional and results of operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Some of the Company&#8217;s agreements with third parties might require it to maintain product liability insurance. If the Company cannot obtain acceptable amounts of coverage on commercially reasonable terms in accordance with the terms set forth in these agreements, the corresponding agreements would be subject to termination, which could have a material adverse impact on its operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Enforcing Contracts</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Due to the nature of the business of the Company and the fact that certain of its contracts involve psilocybin, the use of which is not legal under Canadian or U.S. federal law and in certain other jurisdictions, the Company may face difficulties in enforcing its contracts in Canadian or U.S. federal and state courts. The inability to enforce any of its contracts could have a material adverse effect on its business, operating results, financial condition or prospects.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In order to manage its contracts with contractors, the Company will ensure that such contractors are appropriately licensed. Were such contractors to operate outside the terms of these licences, the Company may experience an adverse effect on its business, including the pace of development of its product.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Product Recalls</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Manufacturers, producers and distributors of products are sometimes subject to the recall or return of their products for a variety of reasons, including product defects, such as contamination, unintended harmful side effects or interactions with other substances, packaging safety and inadequate or inaccurate labelling disclosure. If any of the Company&#8217;s products are recalled due to an alleged product defect or for any other reason, the Company could be required to incur the unexpected expense of the recall and any legal proceedings that might arise in connection with the recall. The Company may lose a significant amount of sales and may not be able to replace those sales at an acceptable margin or at all. In addition, a product recall may require significant management attention.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Although the Company&#8217;s suppliers have detailed procedures in place for testing its products, there can be no assurance that any quality, potency or contamination problems will be detected in time to avoid unforeseen product recalls, regulatory action or lawsuits. Additionally, if the Company is subject to recall, the image of the Company could be harmed. A recall for any of the foregoing reasons could lead to decreased demand for the Company&#8217;s products and could have a material adverse effect on the results of operations and financial condition of the Company. Additionally, product recalls may lead to increased scrutiny of the Company&#8217;s operations by regulatory agencies, requiring further management attention, potential loss of applicable licences and potential legal fees and other expenses.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">57</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Distribution and Supply Chain Interruption</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is susceptible to risks relating to distributor and supply chain interruptions. Distribution in Canada and other jurisdictions will be largely accomplished through independent contractors, therefore, an interruption (e.g., a labour strike) for any length of time affecting such independent contractors may have a significant impact on the Company&#8217;s ability to sell its products. Supply chain interruptions, including a production or inventory disruption, could impact product quality and availability. Inherent to producing products is a potential for shortages or surpluses in future years if demand and supply are materially different from long-term forecasts. The Company monitors category trends and regularly reviews maturing inventory levels.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Difficulty to Forecast</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company must rely largely on its own market research to forecast sales as detailed forecasts are not generally obtainable from other sources at this early stage of the psychedelic pharmaceutical industry. A failure in the demand for the Company&#8217;s psychedelic pharmaceutical industry products to materialize as a result of competition, technological change or other factors could have a material adverse effect on the business, results of operations and financial condition of the Company.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Promoting the Brand</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Promoting the Company&#8217;s brand will be critical to creating and expanding a customer base. Promoting the brand will depend largely on the Company&#8217;s ability to provide psychedelic pharmaceutical products to the market. Further, the Company may, in the future, introduce new products or services that its customers do not like, which may negatively affect the brand and reputation. If the Company fails to successfully promote its brand or if it incurs excessive expenses in this effort, its business and financial results from operations could be materially adversely affected. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If there are changes in the applicable regulatory framework governing the promotion, branding and marketing of the Company&#8217;s products, the Company&#8217;s ability to promote and sell its products may be impaired, and it may incur substantial additional expense to comply with regulatory requirements, which could materially adversely affect its business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Product Viability</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">If the Company&#8217;s psychedelic pharmaceutical products are not perceived to have the effects intended by the end user, the Company&#8217;s business may suffer. In general, psychedelic pharmaceutical products have minimal long-term data with respect to efficacy, unknown side effects and&#47;or interaction with individual human biochemistry or other supplements or medications. As a result, the Company&#8217;s psychedelic pharmaceutical products could have certain side effects if not used as directed or if taken by an end user that has certain known or unknown medical conditions. Further, the Company&#8217;s business involves the growing of an agricultural product and is subject to the risks inherent in the agricultural business, such as insects, plant diseases and similar agricultural risks.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Success of Quality Control Systems</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The quality and safety of the Company&#8217;s products are critical to the success of its business and operations. As such, it is imperative that the Company (and its service providers&#8217;) quality control systems operate effectively and successfully. Quality control systems can be negatively impacted by the design of the quality control systems, the quality of training programs and adherence by employees to quality control guidelines. Any significant failure or deterioration of such quality control systems could have a material adverse effect on the Company&#8217;s business and operating results.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Reliance on Key Inputs</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s business is expected to be dependent on a number of key inputs and their related costs including raw materials and supplies. Any significant interruption or negative change in the availability or economics of the supply chain for key inputs could materially impact the business, financial condition and operating results of the Company. Examples of potential risks include, but are not limited to, the risk that crops may become diseased or victim to insects or other pests and contamination, or subject to extreme weather conditions such as excess rainfall, freezing temperature, or drought, all of which could result in low crop yields, decreased availability of mushrooms, and higher </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">58</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">acquisition prices. Any inability to secure required supplies and services or to do so on appropriate terms could have a materially adverse impact on the business, financial condition and operating results of the Company.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Liability Arising from Fraudulent or Illegal Activity</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is exposed to the risk that its employees, independent contractors, consultants, service providers and licensors may engage in fraudulent or other illegal activity. Misconduct by these parties could include intentional undertakings of unauthorized activities, or reckless or negligent undertakings of authorized activities, in each case on the Company&#8217;s behalf or in its service that violate (i) various laws and regulations, including healthcare laws and regulations, (ii) laws that require the true, complete and accurate reporting of financial information or data, (iii) the terms of the Company&#8217;s agreements with third parties. Such misconduct could expose the Company to, among other things, class actions and other litigation, increased regulatory inspections and related sanctions, and lost sales and revenue or reputational damage.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The precautions taken by the Company to detect and prevent this activity may not be effective in controlling unknown or unmanaged risks or losses or in protecting the Company from governmental investigations or other actions or lawsuits stemming from a failure to be in compliance with such laws or regulations. Such misconduct may result in legal action, significant fines or other sanctions and could result in loss of any regulatory licence held by the Company at such time. The Company may be subject to security breaches at its facilities or in respect of electronic document or data storage, which could lead to breaches of applicable privacy laws and associated sanctions or civil or criminal penalties&#59; events, including those beyond the control of the Company, may damage its operations. In addition, these events may negatively affect customers&#8217; demand for the Company&#8217;s products. Such events include, but are not limited to, non-performance by third party contractors&#59; increases in materials or labour costs&#59; breakdown or failure of equipment&#59; failure of quality control processes&#59; contractor or operator errors&#59; and major incidents and&#47;or catastrophic events such as fires, explosions, earthquakes or storms. As a result, there is a risk that the Company may not have the capacity to meet customer demand or to meet future demand when it arises. Failure to comply with health and safety laws and regulations may result in additional costs for corrective measures, penalties or in restrictions on the Company&#8217;s manufacturing operations.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Operating Risk and Insurance Coverage</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has directors and officers insurance to protect its assets, operations and employees. The Company&#8217;s insurance is subject to coverage limits and exclusions and may not be available for the risks and hazards to which the Company is expected to be exposed. In addition, no assurance can be given that such insurance will be adequate to cover the Company&#8217;s liabilities or will be generally available in the future, or if available, that premiums will be commercially justifiable. If the Company were to incur substantial liability and such damages were not covered by insurance or were in excess of policy limits, or if the Company were to incur such liability at a time when it is not able to obtain liability insurance, its business, results of operations and financial condition could be materially adversely affected.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Costs of Operating as Public Company</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As a public company the Company will incur significant legal, accounting and other expenses. As a public company, the Company is subject to various securities rules and regulations, which impose various requirements on the Company, including the requirement to establish and maintain effective disclosure and financial controls and corporate governance practices. The Company&#8217;s management and other personnel need to devote a substantial amount of time to these compliance initiatives. Moreover, these rules and regulations will increase the Company&#8217;s legal and financial compliance costs and make some activities more time-consuming and costly.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Management of Growth</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company may be subject to growth-related risks, including capacity constraints and pressure on its internal systems and controls. The ability of the Company to manage growth effectively will require it to continue to implement and improve its operational and financial systems and to expand, train and manage its employee base. The inability of the Company to deal with this growth may have a material adverse effect on the Company&#8217;s business, financial condition, results of operations and prospects.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">59</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Conflicts of Interest</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company may be subject to various potential conflicts of interest because of the fact that some of its officers and directors may be engaged in a range of business activities. The Company&#8217;s executive officers and directors may devote time to their outside business interests, so long as such activities do not materially or adversely interfere with their duties to the Company. In some cases, the Company&#8217;s executive officers and directors may have fiduciary obligations associated with these business interests that interfere with their ability to devote time to the Company&#8217;s business and affairs and that could adversely affect the Company&#8217;s operations. These outside business interests could require significant time and attention of the Company&#8217;s executive officers and directors.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition, the Company may also become involved in other transactions which conflict with the interests of its directors and the officers who may from time-to-time deal with persons, firms, institutions or companies with which the Company may be dealing, or which may be seeking investments similar to those desired by it. The interests of these persons could conflict with those of the Company, and from time to time, these persons may be competing with the Company for available investment opportunities.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Conflicts of interest, if any, will be subject to the procedures and remedies provided under applicable laws. In particular, in the event that such a conflict of interest arises at a meeting of the Company&#8217;s directors, a director who has such a conflict will abstain from voting for or against the approval of such participation or such terms. In accordance with applicable laws, the directors of the Company are required to act honestly, in good faith and in the best interests of the Company.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Foreign Operations</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition to operations carried out in Canada, the Company intends to carry out international operations through an office in Ireland. As a result, the Company may be subject to political, economic and other uncertainties, including, but not  limited  to,  cancellation  or  modification  of  contract  rights,  foreign  exchange  restrictions,  currency  fluctuations, export quotas, royalty and tax increases and other risks arising out of foreign governmental sovereignty  over  the  areas  in  which  the Company&#8217;s  operations  are  conducted,  as  well  as  risks  of  loss  due  to  civil  strife,  acts  of  war,  guerrilla  activities  and  insurrections.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s international operations may also be adversely affected by laws and policies of Canada affecting foreign trade, taxation and investment. In the event  of  a  dispute  arising  in  connection  with  its  foreign  operations,  the Company  may  be  subject  to  the  exclusive  jurisdiction of foreign courts or may not be successful in subjecting foreign persons to the jurisdiction of courts in Canada or enforcing Canadian judgments in foreign jurisdictions.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Similarly, to the extent that the Company's assets are located outside of Canada, investors may have difficulty collecting from the Company any judgments obtained in the Canadian courts and predicated on the civil liability provisions of securities laws. Consequently, investors may be effectively prevented from pursuing remedies against the Company under Canadian securities laws or otherwise. The Company may also be hindered or prevented from enforcing its rights with respect to a governmental entity or instrumentality because of the doctrine of sovereign immunity.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Cybersecurity and Privacy Risk</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s information systems and any third-party service providers and vendors are vulnerable to an increasing threat of continually evolving cybersecurity risks. These risks may take the form of malware, computer viruses, cyber threats, extortion, employee error, malfeasance, system errors or other types of risks, and may occur from inside or outside of the respective organizations. Cybersecurity risk is increasingly difficult to identify and quantify and cannot be fully mitigated because of the rapid evolving nature of the threats, targets and consequences. Additionally, unauthorized parties may attempt to gain access to these systems through fraud or other means of deceiving third-party service providers, employees or vendors. The Company&#8217;s operations depend, in part, on how well networks, equipment, IT systems and software are protected against damage from a number of threats. These operations also depend on the timely maintenance, upgrade and replacement of networks, equipment, IT systems and software, as well as pre-emptive expenses to mitigate the risks of failures. However, if the Company is unable or delayed in maintaining, upgrading or replacing IT systems and software, the risk of a cybersecurity incident could materially increase. Any of these and other events could result in information system failures, delays and&#47;or increases in capital </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">60</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">expenses. The failure of information systems or a component of information systems could, depending on the nature of any such failure, adversely impact the Company&#8217;s reputation and results of operations. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company may collect and store certain personal information about customers and are responsible for protecting such information from privacy breaches. A privacy breach may occur through procedural or process failure, information technology malfunction, or deliberate unauthorized intrusions. In addition, theft of data is an ongoing risk whether perpetrated via employee collusion or negligence or through deliberate cyber-attack. Any such privacy breach or theft could have a material adverse effect on the Company&#8217;s business, financial condition and results of operations. </font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition, there are a number of laws protecting the confidentiality of certain patient health information, including patient records, and restricting the use and disclosure of that protected information. In particular, the privacy rules under the </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Personal Information Protection and Electronics Documents Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (Canada) (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">PIPEDA</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and where applicable, provincial legislation governing personal health information, protect medical records and other personal health information by limited their use and disclosure of health information to the minimum level reasonably necessary to accomplish the intended purpose. If the Company were found to be in violation of the privacy or security rules under PIPEDA or other laws protecting the confidentiality of medical patients health information, the Company could be subject to sanctions and civil or criminal penalties, which could increase its liabilities, harm its reputation and have a material adverse effect on the Company&#8217;s business, financial condition and results of operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Environmental Regulation and Risks</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s operations are subject to environmental regulations that mandate, among other things, the maintenance of air and water quality standards and land reclamation. They also set forth limitations on the generation, transportation, storage and disposal of solid and hazardous waste. Environmental legislation is evolving in a manner which could stricter standards and enforcement, increased fines and penalties for non-compliance, more stringent environmental assessments of proposed projects and a heightened degree of responsibility for companies and their officers, directors and employees. There is no assurance that future changes in environmental regulation, if any, will not adversely affect the Company&#8217;s operations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Failure to comply with applicable laws, regulations and permitting requirements may result in enforcement actions thereunder, including orders issued by regulatory or judicial authorities causing operations to cease or be curtailed, and may include corrective measures requiring capital expenditures, installation of additional equipment, or remedial actions. The Company may be required to compensate those suffering loss or damage by reason of its operations and may have civil or criminal fines or penalties imposed for violations of applicable laws or regulations.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Amendments to current laws, regulations and permits governing the production of cannabis oil and related products, or more stringent implementation thereof, could have a material adverse impact on the Company and cause increases in expenses, capital expenditures or production costs or reduction in levels of production or require abandonment or delays in development.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Risks Related to Intellectual Property</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Trademark Protection</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Failure to register trademarks for the Company or its products could require the Company to rebrand its products resulting in a material adverse impact on its business.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Trade Secrets</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company relies on third parties to develop its products and as a result, must share trade secrets with them. The Company seeks to protect its proprietary technology in part by entering into confidentiality agreements and, if applicable, material transfer agreements, collaborative research agreements, consulting agreements or other similar agreements with its collaborators, advisors, employees and consultants prior to beginning research or disclosing proprietary information. These agreements typically restrict the ability of the Company&#8217;s collaborators, advisors, employees and consultants to publish data potentially relating to its trade secrets. Its academic and clinical collaborators typically have rights to publish data, provided that the Company is notified in advance and may delay publication for a specified time in order to secure any intellectual property rights arising from the collaboration. In other cases, publication rights are controlled exclusively by the Company, although in some cases the Company may </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">61</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">share these rights with other parties. The Company may also conduct joint research and development programs which may require it to share trade secrets under the terms of research and development collaboration or similar agreements. Despite the Company&#8217;s efforts to protect its trade secrets, the Company&#8217;s competitors may discover its trade secrets, either through breach of these agreements, independent development or publication of information. A competitor&#8217;s discovery of the Company&#8217;s trade secrets may impair its competitive position and could have a material adverse effect on its business and financial condition.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Patent Law Reform</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">As is the case with other biotechnology and pharmaceutical companies, the Company&#8217;s success is heavily dependent on intellectual property rights, particularly patents. Obtaining and enforcing patents in the biopharmaceutical industry is a technologically and legally complex process, and obtaining and enforcing biopharmaceutical patents is costly, time consuming and inherently uncertain. Recent patent reform legislation could increase the uncertainties and costs surrounding the prosecution of the Company&#8217;s and its licensors&#8217; or collaborators&#8217; patent applications and the enforcement or defense of the Company or its licensors&#8217; or collaborators&#8217; issued patents.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Patent Litigation and Intellectual Property</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company has filed a number of provisional patent applications but even if regular patent applications are filed claiming priority to one or more of the provisional patent applications, there can be no assurance that any or all of these patent applications will issue into a valid patent. Such failure to issue could have a material adverse effect on the Company. In the event that a patent issued to the Company is challenged, any of Corporation&#8217;s patents may be invalidated (although at this time the Company does not have any issued patents). The Company could also become involved in interference or impeachment proceedings in connection with one or more of its patents or patent applications to determine priority of invention.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Patent litigation is widespread in the pharmaceutical industry and the Company cannot predict how this will affect its efforts to form strategic alliances, conduct clinical testing, or manufacture and market any of its prescription drug product candidates that it may successfully develop. If the Company becomes involved in any litigation, interference, impeachment or other administrative proceedings, it will likely incur substantial expenses and the efforts of its technical and management personnel will be significantly diverted. The Company cannot make any assurances that it will have the financial or other resources necessary to enforce or defend a patent infringement or proprietary rights violation action. Moreover, if the Company&#8217;s products infringe patents, trademarks or proprietary rights of others, it could, in certain circumstances, become liable for substantial damages, which also could have a material adverse effect on the business of the Company, its financial condition and results of operation. Patent litigation is less likely during development as many jurisdictions contain exemptions from patent infringement for the purpose of obtaining regulatory approval of a product. Where there is any sharing of patent rights either through co-ownership or different licensed &#8220;fields of use&#8221;, one owner&#8217;s actions could lead to the invalidity of the entire patent. If the Company is unable to avoid infringing the patent rights of others, the Company may be required to seek a licence, defend an infringement action or challenge the validity of the patents in court. Such results could have a material adverse effect on the Company. Regardless of the outcome, patent litigation is costly and time consuming. In some cases, the Company may not have sufficient resources to bring these actions to a successful conclusion, and, even if the Company is successful in these proceedings, it may incur substantial costs and divert management time and attention in pursuing these proceedings, which could have a material adverse effect on the Company.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Any infringement or misappropriation of the Company&#8217;s intellectual property could damage its value and limit its ability to compete. In addition, the Company&#8217;s ability to enforce and protect its intellectual property rights may be limited in certain countries outside the U.S., which could make it easier for competitors to capture market position in such countries by utilizing technologies that are similar to those developed or licensed by the Company. Competitors may also harm the Company&#8217;s sales by designing products that mirror the capabilities of its products or technology without infringing on its intellectual property rights. If the Company does not obtain sufficient protection for its intellectual property, or if it is unable to effectively enforce its intellectual property rights, its competitiveness could be impaired, which would limit its growth and future revenue. The Company may also find it necessary to bring infringement or other actions against third parties to seek to protect its intellectual property rights. Litigation of this nature, even if successful, is often expensive and time- consuming to prosecute and there can be no assurance that the Company will have the financial or other resources to enforce its rights or be able to enforce its rights or prevent other parties from developing similar technology or designing around its intellectual property.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">62</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company is not aware of any infringement by it of any person&#8217;s or entity&#8217;s intellectual property rights. In the event that products sold by the Company are deemed to infringe upon the patents or proprietary rights of others, the Company could be required to modify its products or obtain a licence for the manufacture and&#47;or sale of such products or cease selling such products. In such event, there can be no assurance that the Company would be able to do so in a timely manner, upon acceptable terms and conditions, or at all, and the failure to do any of the foregoing could have a material adverse effect upon the Company&#8217;s business. If the Company&#8217;s products or proposed products are deemed to infringe or likely to infringe upon the patents or proprietary rights of others, the Company could be subject to injunctive relief and, under certain circumstances, become liable for damages, which could also have a material adverse effect on the Company&#8217;s business and its financial condition.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Protection of Intellectual Property</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company will be able to protect its intellectual property from unauthorized use by third parties only to the extent that the Company&#8217;s proprietary technologies, key products and any future products are covered by valid and enforceable intellectual property rights including patents or are effectively maintained as trade secrets and provided the Company has the funds to enforce its rights, if necessary.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Third-Party Licences</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">A substantial number of patents have already been issued to other biotechnology and pharmaceutical companies. To the extent that valid third-party patent rights cover the Company&#8217;s products or services, the Company or its strategic collaborators would be required to seek licences from the holders of these patents in order to manufacture, use or sell these products and services and payments under them would reduce the Company&#8217;s profits from these products and services. The Company is currently unable to predict the extent to which it may wish or be required to acquire rights under such patents, the availability and cost of acquiring such rights and whether a licence to such patents will be available on acceptable terms or at all. There may be patents in the U.S. or in foreign countries or patents issued in the future that are unavailable to licence on acceptable terms. The Company&#8217;s inability to obtain such licences may hinder or eliminate its ability to manufacture and market its products.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Further, if the Company obtains third-party licences but fails to pay annual maintenance fees, development and sales milestones, or it is determined that the Company does not use commercially reasonable efforts to commercialize licensed products, the Company could lose its licences which could have a material adverse effect on its business and financial condition.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Risks Related to the Common Shares</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Market for the Common Shares</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">There can be no assurance that an active trading market for the Common Shares will develop or, if developed, that any market will be sustained. The Company cannot predict the prices at which the Common Shares will trade. Fluctuations in the market price of the Common Shares could cause an investor to lose all or part of its investment in Common Shares. Factors that could cause fluctuations in the trading price of the Common Shares include&#58; (i) announcements of new offerings, products, services or technologies&#59; commercial relationships, acquisitions or other events by the Company or its competitors&#59; (ii) price and volume fluctuations in the overall stock market from time to time&#59; (iii) significant volatility in the market price and trading volume of companies commercializing psychedelic pharmaceuticals&#59; (iv) fluctuations in the trading volume of the Common Shares or the size of the Company&#8217;s public float&#59; (v) actual or anticipated changes or fluctuations in the Company&#8217;s results of operations&#59; (vi) whether the Company&#8217;s results of operations meet the expectations of securities analysts or investors&#59; (vii) actual or anticipated changes in the expectations of investors or securities analysts&#59; (viii) litigation involving the Company, its industry, or both&#59; (ix) regulatory developments&#59; (x) general economic conditions and trends&#59; (xi) major catastrophic events&#59; (xii) escrow releases, sales of large blocks of the Common Shares&#59; (xiii) departures of key employees or members of management&#59; or (xiv) an adverse impact on the Company from any of the other risks cited herein.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Significant Sales of the Common Shares</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Although Common Shares held by existing shareholders of the Company will be freely tradable under applicable securities legislation, the Common Shares held by the Company&#8217;s directors, executive officers, Control persons and certain other securityholders may be subject to contractual lock-up restrictions and may also be subject to escrow </font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">63</font></div></div></div><hr style="page-break-after:always"><div style="min-height:36pt;width:100%"><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">restrictions pursuant to the policies of the Exchange. Sales of a substantial number of the Common Shares in the public market after the expiry of lock-up or escrow restrictions, or the perception that these sales could occur, could adversely affect the market price of the Common Shares and may make it more difficult for investors to sell Common Shares at a favourable time and price.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Volatile Market Price for the Common Shares</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The securities market in Canada has recently experienced a high level of price and volume volatility, and the market prices of securities of many companies have experienced wide fluctuations in price which have not necessarily been related to the operating performance, underlying asset values or prospects of such companies. There can be no assurance that continual fluctuations in price will not occur. It may be anticipated that any market for the Common Shares will be subject to market trends generally, notwithstanding any potential success of the Company. The value of the Common Shares distributed hereunder will be affected by such volatility.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The volatility of the Common Shares may affect the ability of holders to sell the Common Shares at an advantageous price or at all. Market price fluctuations in the Common Shares may be adversely affected by a variety of factors relating to the Company&#8217;s business, including fluctuations in the Company&#8217;s operating and financial results, such results failing to meet the expectations of securities analysts or investors and downward revisions in securities analysis&#8217; estimates in connection therewith, sales of additional Common Shares, governmental regulatory action, adverse change in general market conditions or economic trends, acquisitions, dispositions or other material public announcements by the Company or its competitors, along with a variety of additional factors, including, without limitation, those set forth under the heading &#8220;Cautionary Note Regarding Forward-Looking Information&#8221;. In addition, the market price for securities on stock markets, including the Exchange is subject to significant price and trading fluctuations. These fluctuations have resulted in volatility in the market prices of securities that often has been unrelated or disproportionate to changes in operating performance. These broad market fluctuations may materially adversely affect the market price of the Company.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Additionally, the value of the Common Shares is subject to market value fluctuations based upon factors that influence the Company&#8217;s operations, such as legislative or regulatory developments, competition, technological change and changes in interest rates or foreign exchange rates. There can be no assurance that the market price of the Common Shares will not experience significant fluctuations in the future, including fluctuations that are unrelated to the Company&#8217;s performance.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Tax Issues</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">There may be income tax consequences in relation to the Common Shares, which will vary according to circumstances. Independent advice from tax and legal advisers should be obtained.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">No Dividends</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company&#8217;s current policy is, and will be, to retain earnings to finance the development and enhancement of its products and to otherwise reinvest in the Company. Therefore, the Company does not anticipate paying cash dividends on the Common Shares in the foreseeable future. The Company&#8217;s dividend policy will be reviewed from time to time by the board in the context of its earnings, financial condition and other relevant factors. Until the time that the Company does pay dividends, which it might never do, its shareholders will not be able to receive a return on their Common Shares unless they sell them.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:0.12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Additional information</font></div><div style="margin-bottom:0.12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Additional information on the Company has been filed electronically through SEDAR and is available online at </font><font style="color:#0563c1;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">www.sedar.com</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Approval</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Board has approved the disclosure in this MD&#38;A.</font></div><div style="height:48.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">64</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>q22021-cfocertificatecybin.htm
<DESCRIPTION>EX-99.3
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="ic7cf776441e64a3eb7c3c5ca4fa89472_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">FORM 52-109F2<br>CERTIFICATION OF INTERIM FILINGS<br>FULL CERTIFICATE</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">I, Greg Cavers, as Chief Financial Officer of Cybin Inc. (formerly, Clarmin Explorations Inc.), certify the following&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Review&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> I have reviewed the interim financial statements and interim MD&#38;A (together, the &#8220;interim filings&#8221;) of Cybin Inc. (formerly, Clarmin Explorations Inc.) (the &#8220;issuer&#8221;) for the interim period ended September 30, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">No misrepresentations</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#58; Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">3.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Fair presentation&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> Based on my knowledge, having exercised reasonable diligence, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the financial condition, results of operations and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">4.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Responsibility&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> The issuer&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&#38;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 Certification of Disclosure in Issuers&#8217; Annual and Interim Filings, for the issuer.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Design&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the end of the period covered by the interim filings</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">designed DC&#38;P, or caused it to be designed under our supervision, to provide reasonable assurance that</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#8217;s GAAP.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.1 &#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Control framework&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s ICFR is the</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%"> Internal Control &#8211; Integrated Framework (2013) issued by The Committee of Sponsoring Organization of the Treadway Commission (COSO).</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify;text-indent:18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.2&#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">N&#47;A.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </font></div><div style="text-align:justify;text-indent:18pt"><font><br></font></div><div style="text-align:justify;text-indent:18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.3&#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">N&#47;A.</font></div><div style="text-align:justify;text-indent:18pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">6.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Reporting changes in ICFR&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> The issuer has disclosed in its interim MD&#38;A any change in the issuer&#8217;s ICFR that occurred during the period beginning on July 1, 2021 and ended on September 30, 2021 that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s ICFR.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Date&#58;&#160;November 15, 2021. <br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:27.403%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#47;s&#47; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Greg Cavers</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Greg Cavers</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Chief Financial Officer</font></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>q22021-ceocertificatecybin.htm
<DESCRIPTION>EX-99.4
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="iddf1aef084aa4fc3b2fec0c63046105e_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">FORM 52-109F2<br>CERTIFICATION OF INTERIM FILINGS<br>FULL CERTIFICATE</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">I, Douglas Drysdale, as Chief Executive Officer of Cybin Inc. (formerly, Clarmin Explorations Inc.), certify the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Review&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> I have reviewed the interim financial statements and interim MD&#38;A (together, the &#8220;interim filings&#8221;) of Cybin Inc. (formerly, Clarmin Explorations Inc.) (the &#8220;issuer&#8221;) for the interim period ended September 30, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">No misrepresentations</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#58; Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">3.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Fair presentation&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> Based on my knowledge, having exercised reasonable diligence, the interim financial statements together with the other financial information included in the interim filings fairly present in all material respects the financial condition, results of operations and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">4.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Responsibility&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> The issuer&#8217;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (DC&#38;P) and internal control over financial reporting (ICFR), as those terms are defined in National Instrument 52-109 Certification of Disclosure in Issuers&#8217; Annual and Interim Filings, for the issuer.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Design&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the end of the period covered by the interim filings</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">designed DC&#38;P, or caused it to be designed under our supervision, to provide reasonable assurance that</font></div><div style="padding-left:72pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">material information relating to the issuer is made known to us by others, particularly during the period in which the interim filings are being prepared&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:108pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation&#59; and</font></div><div style="padding-left:108pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">2.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;padding-left:10.5pt">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer&#8217;s GAAP.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.1 &#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">Control framework&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s ICFR is the</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%"> Internal Control &#8211; Integrated Framework (2013) issued by The Committee of Sponsoring Organization of the Treadway Commission (COSO).</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="text-align:justify;text-indent:18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.2&#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">N&#47;A.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </font></div><div style="text-align:justify;text-indent:18pt"><font><br></font></div><div style="text-align:justify;text-indent:18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5.3&#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%">N&#47;A.</font></div><div style="text-align:justify;text-indent:18pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">6.</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:115%;padding-left:10.5pt">Reporting changes in ICFR&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> The issuer has disclosed in its interim MD&#38;A any change in the issuer&#8217;s ICFR that occurred during the period beginning on July 1, 2021 and ended on September 30, 2021 that has materially affected, or is reasonably likely to materially affect, the issuer&#8217;s ICFR.</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br><br>Date&#58;&#160;November 15, 2021. <br></font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:27.403%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:2.75pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">&#47;s&#47; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Douglas Drysdale</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Douglas Drysdale</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Chief Executive Officer</font></td></tr></table></div><div><font><br></font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"><br><br><br><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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<title>Document</title></head><body><div id="i4db282f589f3472494247450eaa2d17b_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="margin-bottom:0.05pt;margin-top:0.5pt"><font><br></font></div><div style="padding-left:156.1pt"><img alt="image_0a.jpg" src="image_0a.jpg" style="height:130px;margin-bottom:5pt;vertical-align:text-bottom;width:206px"></div><div><font><br></font></div><div style="margin-top:0.25pt"><font><br></font></div><div style="margin-top:4.6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:14pt;font-weight:700;line-height:115%">Cybin Inc. Reports its Second Quarter Financial Results and Recent Business Highlights</font></div><div style="margin-top:4.6pt;text-align:center"><font><br></font></div><div style="margin-top:4.6pt;text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:115%">- Company to host conference call at 4&#58;30pm EST today &#8211;</font></div><div style="margin-top:12.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:139%">TORONTO, CANADA </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">&#8211; November 15, 2021 &#8211; </font><font style="color:#0563c1;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%;text-decoration:underline">Cybin Inc.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%"> (</font><font style="color:#0563c1;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%;text-decoration:underline">NEO&#58;CYBN</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">) (</font><font style="color:#0563c1;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%;text-decoration:underline">NYSE American&#58;CYBN</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">) (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:139%">Cybin</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">&#8221; or the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:139%">Company</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">&#8221;), a biopharmaceutical company focused on progressing &#8220;Psychedelics to Therapeutics</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7.15pt;font-weight:400;line-height:139%;position:relative;top:-3.85pt;vertical-align:baseline">TM</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">&#8221;, today reported unaudited financial results for its second quarter ended September 30, 2021. </font></div><div style="margin-top:12.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">&#8220;The first half of the year has been a transformative period for Cybin that included significant and swift advancements in our research and development pipeline and overall business. Through CYB003, we believe that we have identified a potentially safer treatment option for patients with depression and addiction disorders that we expect to have strong intellectual property protection and a positive </font><font style="color:#202124;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">pharmacokinetic</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%"> profile for patients, providers and payers. We plan to move through the ongoing, remaining preclinical studies quickly and submit an investigational new drug application and clinical trial application in the second quarter of 2022</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7.15pt;font-weight:400;line-height:139%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">, in the U.S. and the U.K., respectively,&#34; said Doug Drysdale, Chief Executive Officer of Cybin.</font></div><div style="margin-top:12.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">Drysdale continued, &#8220;In addition, we continue to evolve our value-driving, patient-centered approach to potential treatments for mental health and addiction through our commitment to advancing programs such as EMBARK, that aims to facilitate psilocybin-assisted psychotherapy for frontline workers impacted by the COVID-19 pandemic, as well as targeted research using the Kernel Flow neuroimaging technology that we expect will allow us to quantitively understand the psychedelic experience in the brain as it is happening. We believe these programs combined with our proprietary psychedelic new chemical entities have the potential to transform the treatment landscape for various psychiatric and neurological conditions.&#8221;</font></div><div style="margin-top:12.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:115%">Recent Business and Pipeline Highlights&#58;</font></div><div style="margin-top:12.6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Announced preclinical data for its novel deuterated psilocybin analog, CYB003, for the potential treatment of major depressive disorder and alcohol use disorder.  The data </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Based on a calendar year-end.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="margin-top:12.6pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">demonstrated that CYB003 may provide significant treatment benefits to address the challenges and limitations of oral psilocybin, including improved safety through less patient variability, reduced clinic times through faster onset of action and shorter duration of effect, and lower dosing through improved brain penetration, which may result in fewer side effects, ultimately offering an improved patient experience. Cybin expects to complete the ongoing preclinical studies of CYB003 in Q1 2022 and submit an investigational new drug application (&#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:133%">IND</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8221;) to the U.S. Food and Drug Administration (the &#8220;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:133%">FDA</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8221;), and a clinical trial application with the U.K. Medicines and Healthcare Products Regulatory Agency in Q2 2022</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7.15pt;font-weight:400;line-height:133%;position:relative;top:-3.85pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">.    </font></div><div style="margin-top:12.6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Granted a Schedule I manufacturing license from the U.S. Drug Enforcement Agency for the Company&#8217;s Boston-area research lab that is expected to allow the Company to expand its internal research and development capabilities.</font></div><div style="margin-top:12.6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Received approval from the FDA for its IND application to proceed with a Company-sponsored feasibility study using the Kernel Flow quantitative neuroimaging technology to measure ketamine&#8217;s psychedelic effect on cerebral cortex hemodynamics.  </font></div><div style="margin-top:12.6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Launched the EMBARK Psychedelic Facilitator Training Program in collaboration with the University of Washington in preparation for the first clinical trial of psilocybin-assisted psychotherapy to address COVID-19 related distress in frontline healthcare professionals. </font></div><div style="margin-top:12.6pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Welcomed Dr. Amir Inamdar as Chief Medical Officer for European Operations&#59; Dr. Geoff Varty as Head of Research and Development&#59; and Leah Gibson as Vice President of Investor Relations.</font></div><div style="margin-top:12.6pt;text-align:justify"><font><br></font></div><div style="padding-left:5.95pt;padding-right:5.8pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:115%">Second-Quarter Financial Highlights</font></div><div style="padding-right:5.8pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:18pt;padding-right:5.8pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Cash and cash equivalents totaled to C$75.2 million as of September 30, 2021.  </font></div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;padding-left:14.15pt">Net loss was C$17.6 million for the quarter ended September 30, 2021 of which non-cash expenses totaled C$6.0 million and cash-based operating expenses totaled C$11.6 million.</font></div><div style="padding-left:5.95pt;padding-right:5.8pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:115%">Conference Call and Webcast Details</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:232%">DATE&#58;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Monday, November 15, 2021</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:232%">TIME&#58;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4&#58;30 p.m. (EST)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:232%">DIAL-IN&#160;&#160;&#160;&#160;1-844-200-6205 (U.S. toll free) or 1-833-950-0062 (Canada toll free)</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:232%">CODE&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;727873</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:174%">WEBCAST&#160;&#160;&#160;&#160;</font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:174%;text-decoration:underline">https&#58;&#47;&#47;events.q4inc.com&#47;attendee&#47;747515026</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:174%"> </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Based on a calendar year-end.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="margin-top:12.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">The live and archived webcast will also be available on the Company&#8217;s Investor Relations site under the </font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%;text-decoration:underline">Events &#38; Presentations</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%"> page.  </font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:115%">Business Update</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Cybin has decided not to proceed with its nutraceutical product line in order to focus its efforts on the research and development of its psychedelic molecules. Further, the Company no longer anticipates conducting business activities in Jamaica, as the Company focuses on the new Deuterated Psilocybin Analog Program. The Company intends to complete future clinical trials in the U.S. and the U.K.</font></div><div style="margin-top:12.6pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:139%">About Cybin</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in the United States, United Kingdom and Ireland. The Company is focused on progressing psychedelics to therapeutics by engineering proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for mental health disorders.</font></div><div style="margin-top:0.05pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:139%">Cautionary Notes and Forward-Looking Statements</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as &#8220;may&#8221;, &#8220;should&#8221;, &#8220;could&#8221;, &#8220;intend&#8221;, &#8220;estimate&#8221;, &#8220;plan&#8221;, &#8220;anticipate&#8221;, &#8220;expect&#8221;, &#8220;believe&#8221; or &#8220;continue&#8221;, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Company&#8217;s development of innovative drug delivery systems, statements regarding the potential benefits of the Company&#8217;s novel deuterated psilocybin analog, CYB003,</font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">statements regarding the Company&#8217;s completion of preclinical studies of CYB003 in Q1 2022</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7.15pt;font-weight:400;line-height:139%;position:relative;top:-3.85pt;vertical-align:baseline">3</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%"> and the submission of a new drug application and clinical trial application in Q2 2022</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7.15pt;font-weight:400;line-height:139%;position:relative;top:-3.85pt;vertical-align:baseline">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">, statements regarding the Company&#8217;s EMBARK Psychedelic Facilitator Training Program, statements regarding the anticipated results of using Kernel Flow technology in the Company&#8217;s research, and statements regarding the expansions of the Company&#8217;s internal research and development capabilities under its Schedule I manufacturing license. </font></div><div style="margin-top:0.05pt"><font><br></font></div><div style="padding-left:0.05pt;padding-right:5.7pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, </font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Based on a calendar year-end.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:115%;position:relative;top:-2.8pt;vertical-align:baseline">4</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:115%"> Based on a calendar year-end.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:0.05pt;padding-right:5.7pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include&#58; implications of the COVID-19 pandemic on the Company's operations&#59; fluctuations in general macroeconomic conditions&#59; fluctuations in securities markets&#59; expectations regarding the size of the psychedelics market&#59; the ability of the Company to successfully achieve its business objectives&#59; plans for growth&#59; political, social and environmental uncertainties&#59; employee relations&#59; the presence of laws and regulations that may impose restrictions in the markets where the Company operates&#59; and the risk factors set out in each of the Company's management's discussion and analysis for the three and six month periods ended September 30, 2021, the Company&#8217;s annua l information form for the year ended March 31, 2021, and the Company's listing statement dated November 9, 2020, which are available under the Company's profile on </font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;text-decoration:underline">www.sedar.com</font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">and with the U.S. Securities and Exchange Commission on EDGAR at </font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%;text-decoration:underline">www.sec.gov</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">. Although the forward- looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward- looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:0.05pt;padding-right:5.75pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:133%">Cybin makes no medical, treatment or health benefit claims about Cybin&#8217;s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or  other psychedelic compounds. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or  can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin&#8217;s performance and operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:7.5pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:139%">Neither the Neo Exchange Inc. nor the NYSE American LLC stock exchange have approved or disapproved the contents of this news release and are not responsible for the adequacy and accuracy of the contents herein.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="font-family:'Arial',sans-serif;font-size:13.5pt;font-weight:400;line-height:115%"></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:139%">Investor &#38; Media Contact&#58;&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">Leah Gibson</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">Vice President, Investor Relations</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%">Cybin Inc.</font></div><div style="text-align:justify"><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:139%;text-decoration:underline">leah&#64;cybin.com</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
