Filament Health Corp. Announces Non-Brokered Private Placement Unit Offering Led By Negev Capital

 Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE:7QS) (“Filament” or the “Company“), a clinical‐stage natural psychedelic drug development company, today announced that it intends to complete, subject to regulatory approval, a non-brokered private placement for gross proceeds of up to C$2,000,000 (the “Offering“). Negev Capital, a leading venture fund in the psychedelic drug development space, will lead the Offering.

“We are thrilled to reinforce our ongoing commitment to Filament Health, a pioneering entity in the psychedelic domain. Filament is strategically positioned, leveraging a groundbreaking botanical drug development platform and holding industry-leading intellectual property. Their meticulous focus on combating substance use disorders represents a significant opportunity for meaningful advancements and value creation in this space.”

-Ken Belotsky, Partner at Negev Capital

“We are grateful for Negev’s ongoing support and look forward to continuing to build our partnership,” said Benjamin Lightburn, Chief Executive Officer and Co‐Founder at Filament.

Filament intends to raise up to C$2,000,000, subject to raising a minimum of C$1,000,000. The Offering is a non-brokered private placement of up to 13,333,333 units (the “Units“), subject to a minimum of 6,666,667 Units, at a price of C$0.15 per Unit (the “Issue Price“), or other price approved by the NEO Exchange. Each Unit will consist of one common share of the Company (a “Common Share“) and one common share purchase warrant (the “Warrants“). Each Warrant will be exercisable to acquire one Common Share for a period of 36 months following the closing date of the Offering at an exercise price of C$0.20, representing a 33% premium to the Issue Price, or other amount approved by the NEO Exchange.

Negev Capital, a psychedelic medical intervention investment fund that has made over 25 investments to date, is the lead investor of the Offering. Net proceeds from the Offering are expected to be used to advance the Company’s Phase 2 methamphetamine use disorder clinical trial which has already received FDA approval, as well as other general corporate purposes.

The Offering is subject to the approval of the NEO Exchange and the securities issued thereunder will be subject to a four month hold period under securities laws. The securities offered in the Offering have not been, nor will they be, registered under the Securities Act, or any state securities laws, and may not be offered or sold to, or for the account or benefit of, any person in the United States or any “U.S person”, as such term is defined in Regulation S under the Securities Act, absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

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

Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament’s platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines. We are paving the way with what we believe to be the first-ever natural psychedelic drug candidates.