Day: July 22, 2021

OSBC – Old Second Bancorp (OSBC) Q2 Earnings and Revenues Miss Estimates

Old Second Bancorp (OSBC Free Report) came out with quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -9.09%. A quarter ago, it was expected that this financial holding company would post earnings of $0.26 per share when it actually produced earnings of $0.29, delivering a surprise of 11.54%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Old Second Bancorp, which belongs to the Zacks Banks – Midwest industry, posted revenues of $29.87 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 12.05%. This compares to year-ago revenues of $33.4 million. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Old Second Bancorp shares have added about 22.2% since the beginning of the year versus the S&P 500’s gain of 15.1%.

What’s Next for Old Second Bancorp?

While Old Second Bancorp has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Old Second Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.31 on $33.7 million in revenues for the coming quarter and $1.32 on $136.3 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks – Midwest is currently in the top 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

GSBC – Great Southern Bancorp (GSBC) Surpasses Q2 Earnings and Revenue Estimates

Great Southern Bancorp (GSBC Free Report) came out with quarterly earnings of $1.46 per share, beating the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 12.31%. A quarter ago, it was expected that this bank holding company would post earnings of $1.12 per share when it actually produced earnings of $1.36, delivering a surprise of 21.43%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Great Southern Bancorp, which belongs to the Zacks Financial – Savings and Loan industry, posted revenues of $54.27 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 1.09%. This compares to year-ago revenues of $51.72 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Great Southern Bancorp shares have added about 3.6% since the beginning of the year versus the S&P 500’s gain of 15.1%.

What’s Next for Great Southern Bancorp?

While Great Southern Bancorp has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Great Southern Bancorp was mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.27 on $53.4 million in revenues for the coming quarter and $5.17 on $213.47 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Financial – Savings and Loan is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

ZENV – Zenvia Inc. Announces Pricing of Initial Public Offering

SÃO PAULO, July 21, 2021 /PRNewswire/ — Zenvia Inc. (“Zenvia”), a customer experience communications platform that empowers businesses to create unique journeys for their end-customers along their life cycle across a broad range of B2C verticals throughout Latin America, today announced the pricing of its initial public offering of 11,538,461 Class A common shares at a public offering price of US$13.00 per share (the “Offering”). The underwriters have the option to purchase up to an additional 1,730,769 Class A common shares from Zenvia at the initial public offering price, less underwriting discounts and commissions.

Zenvia Class A common shares are expected to begin trading on the Nasdaq Capital Market on July 22, 2021 under the ticker symbol “ZENV,” and the offering is expected to close on July 26, 2021, subject to customary closing conditions.

Concurrently with and contingent upon the completion of the Offering, Twilio Inc. has agreed to purchase 3,846,153 additional Class A common shares to be issued by Zenvia in a private placement exempt from registration under the Securities Act of 1933, as amended, at a price equal to US$13.00 per Class A common share. We expect that this concurrent private placement will close shortly after the consummation of the Offering.

A registration statement relating to this Offering has been filed with and declared effective by the Securities and Exchange Commission on July 21, 2021. Copies of the registration statement can be accessed through the Securities and Exchange Commission’s website at www.sec.gov.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Banco Bradesco BBI S.A., Itau BBA USA Securities, Inc. and UBS Securities LLC are acting as global coordinators for the proposed Offering and XP Investments US, LLC is acting as joint bookrunner for the proposed Offering.

The Offering of these securities is being made only by means of a written prospectus forming part of the effective registration statement, copies of which may be obtained from any of the following sources:

  • Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at 1-866-471-2526, facsimile: 212-902-9316 or by email at [email protected]; or
  • Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email to: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Zenvia

Zenvia is driven by the purpose of empowering companies to create unique experiences for customer communications through its unified end-to-end platform. Zenvia empowers companies to transform their existing customer communications from non-scalable, physical and impersonal interactions into highly scalable, digital first and hyper contextualized experiences across the customer journey. Zenvia’s unified end-to-end CX communications platform provides a combination of (i) SaaS focused on campaigns, sales teams, customer service and engagement, (ii) tools, such as software application programming interfaces, or APIs, chatbots, single customer view, journey designer, documents composer and authentication and (iii) channels, such as SMS, Voice, WhatsApp, Instagram and Webchat. Its comprehensive platform assists customers across multiple use cases, including marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, among others. As of March 31, 2021, Zenvia served more than 10,100 active customers throughout Latin America.

SOURCE Zenvia

WTT – Wireless Telecom Group Announces Preliminary 2021 Second-Quarter Financial Results

Parsippany, New Jersey, USA, July 21, 2021 (GLOBE NEWSWIRE) — Wireless Telecom Group, Inc. (NYSE American: WTT) (the “Company”), announced today that based on preliminary unaudited results for the three months ended June 30, 2021, the Company estimates revenues of approximately $12.0 million, compared to $11.1 million for same period in 2020, an increase of $900,000, or 8%. Management also expects bookings of approximately $14.5 million for the quarter ended June 30, 2021, compared to $12.8 million of bookings for the quarter ended March 31, 2021, a sequential increase of $1.7 million, or 13%. In addition, management expects to end the second quarter with a backlog of approximately $12.5 million, compared to $10.0 million at March 31, 2021 and $8.3 million at December 31, 2020.

Additionally, as of June 30, 2021 the full amount of the Company’s outstanding loan of $2.0 million under the Paycheck Protection Program (“PPP”) of the 2020 Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) has been forgiven and considered paid in full (including applicable interest). The PPP Loan had previously been recorded as debt on the Company’s balance sheet.

Tim Whelan, CEO of Wireless Telecom Group, Inc. stated, “We are pleased with the accelerating momentum underway across our business, as preliminary second quarter results show continued revenue and backlog growth. In addition, our outlook remains positive and is supported by our fifth straight quarter of strong bookings and a positive book-to-bill ratio. The quality of our new bookings included strength across all our product groups as well as another quarter of two new 5G software customers.”

Mr. Whelan continued, “We are very excited about our future, and we continue to make progress executing our long-term strategy of driving double-digit revenue growth and improving operating margins.”

Our financial statements for the three months ended June 30, 2021 are not yet available. Accordingly, the information presented above reflects our preliminary estimates subject to the completion of our financial closing procedures. As a result, these preliminary estimates may differ from the actual results that will be reflected in our financial statements when they are completed and publicly disclosed. These preliminary estimates may change and those changes may be material.

Our expectations with respect to our preliminary estimates for the three months ended June 30, 2021 are based upon management estimates and are the responsibility of management. Our independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to these preliminary results and, accordingly, does not express an opinion or any other form of assurance about them.

These estimates should not be viewed as a substitute for our full interim or annual financial statements prepared in accordance with GAAP. Accordingly, you should not place undue reliance on these preliminary financial results. These estimated preliminary results should be read in conjunction with the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of our historical consolidated financial statements, including the notes thereto, in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 19, 2021 and in other reports that we filed with the Securities and Exchange Commission.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, intend, project, anticipate, plan, estimate, guidance or similar words. Forward-looking statements include, among others, our expectation to continue to make progress executing our long-term strategy of driving double-digit revenue growth and improving operating margins. Investors are cautioned that such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results, including but are not limited to, the ongoing impact that the COVID-19 pandemic may have on our business, including on our supply chain, and the general economy in the future, our dependency on capital spending on data and communication networks by our customers and end users, our dependency on the deployment of 4G LTE and 5G NR private networks and related services to grow our business, the impact of the loss of any significant customers, the ability of our management to successfully implement our business plan and strategy, our ability to raise additional capital to fund our operations given our degree of leverage, product demand and development of competitive technologies in our market sector, the impact of competitive products and pricing, our abilities to protect our intellectual property rights and our ability to manage risks related to our information technology and cyber security, among others. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties are disclosed in our Annual Report on Form 10-K for the year ended December 31, 2020. The Company’s forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

– END –

About Wireless Telecom Group

Wireless Telecom Group, Inc., comprised of Boonton, CommAgility, Holzworth, Microlab, and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems, and instruments. Serving the wireless, telecommunication, satellite, military, aerospace, semiconductor, and medical industries, Wireless Telecom Group products enable innovation across existing and emerging wireless technologies. With a product portfolio including peak power meters, signal generators, phase noise analyzers, signal processing modules, LTE PHY/stack software, power splitters and combiners, GPS repeaters, public safety components, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe. Wireless Telecom Group, Inc.’s website address is wirelesstelecomgroup.com.

Investor Contact
Andrew M. Berger
Managing Director
SM Berger& Company
(216) 464-6400
andrew@smberger.com

Contact
Michael Kandell: +1 (973) 386-9696
25 Eastmans Road
Parsippany, NJ 07054
Tel: (973) 386-9696
Fax: (973) 386-9191
www.wtcom.com

JUPW – Jupiter Wellness Prices $32.5 Million Underwritten Public Offering of Common Stock and Warrants

JUPITER, FL / ACCESSWIRE / July 21, 2021 / Jupiter Wellness, Inc. (the “Company”) (NASDAQ:JUPW), today announced the pricing of an underwritten public offering (the “Offering”) of 11,066,258 shares (the “Company Offering Shares”) of common stock, par value $0.001 per share (“Common Stock”) to be issued by the Company, 540,884 shares (the “Selling Stockholder Shares”) of Common Stock to be issued by certain selling stockholders (the “Selling Stockholders”) of the Company and warrants (the “Company Warrants”) to purchase up to 11,607,142 shares of Common Stock, at a price to the public of $2.79 per Company Offering Share/Selling Stockholder Share and $0.01 per Company Warrant. The Company Warrants will be exercisable immediately upon issuance with the exercise price of 2.79 per share and will expire on the fifth anniversary of the original issuance date. The gross proceeds from the Offering, before deducting underwriting discounts and commissions and estimated Offering expenses, are expected to be $32.5 million.

In addition, the Company and the Selling Stockholders granted the underwriters a 45-day option to purchase additional shares of Common Stock, representing 15% of the number of shares of Common Stock sold in the base offering and additional Company Warrants, representing up to 15% of the Company Warrants sold in the base offering, solely to cover over-allotments, if any, which would increase the total gross proceeds of the Offering to approximately $37.4 million, if the over-allotment option is exercised in full.

The Offering is expected to close on July 26, 2021, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as sole book-running manager for the Offering.
The securities described above were offered by Jupiter Wellness, Inc. pursuant to an effective registration statement on Form S-1 (No. 333-258005) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 19, 2021, amended on July 20, 2021, and declared effective by the SEC on July 21, 2021. A final prospectus (the “Prospectus”) describing the terms of the proposed Offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the Prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010. Before investing in this Offering, interested parties should read in their entirety the Prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such Prospectus, which provide more information about the Company and such Offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any units, nor shall there be any sales of the units in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Jupiter Wellness
Jupiter Wellness, Inc. (NASDAQ:JUPW) is a leading developer of skin care therapeutics and treatments. The Company’s product pipeline of enhanced skin care therapeutics focuses on the endocannabinoid system to address indications including eczema, burns, herpes cold sores, and skin cancer. Jupiter generates revenue from a growing line of proprietary over-the-counter skincare products including CaniSun™ sunscreen and other wellness brands sold through www.cbdcaring.com.

Safe Harbor Statement
To the extent any statements contained in this presentation of Jupiter Wellness, Inc. (the “Company”) contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 and the information that are based upon beliefs of, and information currently available to, the Company’s management as well as estimates and assumptions made by the Company’s management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words “estimate,” “expect,” intend,” believe,” plan,” “anticipate,” “projected” and other words or the negative of these terms and similar expressions as they relate to the Company or the Company’s management identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to the expected timing of the closing of the Offering, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the Offering, the Company’s industry, its operations and results of operations and any businesses that may be acquired by the Company. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Investor & Public Relations Contact Info
Phone: 561-244-7100
Email: [email protected]

SOURCE: Jupiter Wellness, Inc.

RYAN – Ryan Specialty Announces Pricing of its Initial Public Offering

CHICAGO–()–Ryan Specialty Group Holdings, Inc. (“Ryan Specialty”) today announced the pricing of its initial public offering of 56,918,278 shares of its Class A common stock at a price to the public of $23.50 per share, before underwriting discounts and commissions, for gross proceeds of $1,337.6 million. All shares of Class A common stock are being offered by Ryan Specialty. Additionally, Ryan Specialty has granted the underwriters a 30-day option to purchase up to an additional 8,537,742 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the New York Stock Exchange (“NYSE”) on July 22, 2021, under the symbol “RYAN.” The offering is expected to close on July 26, 2021, subject to the satisfaction of customary closing conditions.

Upon completion of the initial public offering, Ryan Specialty will be the sole managing member of Ryan Specialty Group, LLC (“Ryan Specialty Group”) and will exclusively operate and control all of its business and affairs.

Ryan Specialty will receive net proceeds of approximately $1,259.1 million after deducting underwriting discounts and commissions and estimated expenses and intends to use the net proceeds received from this offering to acquire (i) newly issued LLC units of Ryan Specialty Group, (ii) the equity of an entity through which an affiliate of Onex Corporation (TSX: ONEX) holds its preferred unit interest in Ryan Specialty Group, and (iii) outstanding LLC units of Ryan Specialty Group from certain existing holders of LLC units at a purchase price per LLC unit equal to the initial public offering price per share of Class A common stock in this offering, less underwriting fees and commissions.

J.P. Morgan, Barclays, Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as lead book-running managers, and UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets and Keefe, Bruyette & Woods, A Stifel Company are acting as book-running managers for the offering. Dowling & Partners Securities LLC, Wolfe|Nomura Strategic Alliance, Capital One Securities, CIBC Capital Markets, Loop Capital Markets, PNC Capital Markets LLC, Ramirez & Co., Inc. and Siebert Williams Shank are acting as co-managers for the offering.

The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or by emailing barclaysprospectus@broadridge.com; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or by e-mailing prospectus-ny@ny.email.gs.com; or Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, telephone: (800) 326-5897, or by emailing cmclientsupport@wellsfargo.com.

A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission and became effective on July 21, 2021. Copies of the registration statement can be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Ryan Specialty Group

Founded by Patrick G. Ryan in 2010, Ryan Specialty Group is a rapidly growing service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty Group provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter. Our mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers.

CLXPF – Cybin Announces Conditional Listing Approval from NYSE American

TORONTO–()–Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has received conditional listing approval from the NYSE American LLC stock exchange (the “NYSE American”).

Doug Drysdale, Cybin’s CEO, added, “Conditional listing approval on the NYSE American is an important milestone in Cybin’s growth journey. We expect expanded access to investors to further fuel our mission to develop revolutionary psychedelic therapeutics for patients suffering from mental health conditions.”

Any listing remains subject to the approval of the NYSE American and the satisfaction of all applicable regulatory requirements. No assurance can be given that an application will be approved. The Company plans to maintain its current listing on the NEO Exchange. The Company has reserved the ticker CYBN on the NYSE American.

About Cybin

Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.

Cautionary Notes and Forward-Looking Statements

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 “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the Company’s potential listing on NYSE American. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Cybin makes no medical, treatment or health benefit claims about Cybin’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 or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals 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’s performance and operations.

The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.