FILAMENT HEALTH ANNOUNCES TERMINATION OF PROPOSED BUSINESS COMBINATION WITH JUPITER ACQUISITION CORPORATION

VANCOUVER, BC, Dec. 19, 2023  /CNW/ – Filament Well being Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) (“Filament” or the “Firm“), a medical‐stage pure psychedelic drug growth firm, at present introduced that the Enterprise Mixture Settlement, by and among the many Firm, Jupiter Acquisition Company (NASDAQ: JAQC) (“Jupiter“), 1427702 B.C. Ltd. (“TopCo“) and Filament Merger Sub LLC, dated as of July 18, 2023 (as amended by the First Modification to the Enterprise Mixture Settlement, the “Enterprise Mixture Settlement“), with respect to a proposed enterprise mixture between Filament and Jupiter (the “Proposed Enterprise Mixture“), has been terminated by the events by mutual settlement.

As beforehand introduced within the Firm’s press launch dated December 18, 2023, the Firm was required to make materials adjustments to the phrases of the Proposed Enterprise Mixture and the proposed financing of senior secured convertible notes by Helena International Funding Alternatives 1 Ltd. (the “Word Financing“) with a view to allow the mixed firm after the Proposed Enterprise Mixture to satisfy Nasdaq itemizing necessities.

Given the fabric adjustments required with a view to meet Nasdaq itemizing necessities, the events have decided to not proceed to pursue the Proposed Enterprise Mixture and due to this fact have determined to terminate the Enterprise Mixture Settlement. On condition that the completion of the Proposed Enterprise Mixture is a situation to closing the Word Financing, the Word Financing is not going to be accomplished this present day.

ABOUT FILAMENT HEALTH CORP (OTCQB:FLHLF) (NEO:FH) (FSE:7QS)

Filament Well being is a clinical-stage pure psychedelic drug growth firm. We imagine that protected, standardized, naturally-derived psychedelic medicines can enhance the lives of many, and our mission is to see them within the fingers of everybody who wants them as quickly as attainable. Filament’s platform of proprietary mental property permits the invention, growth, and supply of pure psychedelic medicines. We’re paving the way in which with what we imagine to be the first-ever pure psychedelic drug candidates.

Be taught extra at www.filament.well being and on Twitter, Instagram and LinkedIn.

FORWARD LOOKING INFORMATION

Sure statements and knowledge contained herein might represent “ahead‐trying statements” and “ahead‐trying data,” respectively, below Canadian securities laws. Typically, ahead‐trying data may be recognized by way of ahead‐trying terminology comparable to, “anticipate”, “anticipate”, “proceed”, “estimate”, “might”, “will”, “ought to”, “imagine”, “intends”, “forecast”, “plans”, “steerage” and related expressions are meant to determine ahead‐trying statements or data. Ahead-looking statements herein embrace, however should not restricted to, statements relating to the Word Financing. The ahead‐trying statements should not historic information, however replicate the present expectations of administration of Filament relating to future outcomes or occasions and are based mostly on data presently accessible to them. Sure materials elements and assumptions have been utilized in offering these ahead‐trying statements. Ahead‐trying statements relating to the Firm are based mostly on the Firm’s estimates and are topic to identified and unknown dangers, uncertainties and different elements which will trigger the precise outcomes, ranges of exercise, efficiency or achievements of Filament to be materially completely different from these expressed or implied by such ahead‐trying statements or ahead‐trying data. There may be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on ahead‐trying statements and ahead‐trying data. Filament is not going to replace any ahead‐trying statements or ahead‐trying data which can be integrated by reference herein, besides as required by relevant securities legal guidelines.

SOURCE Filament Well being Corp.

For additional data: MEDIA RELATIONS, Anna Cordon, Director of Communications, [email protected]; INVESTOR RELATIONS, [email protected]

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