BetterLife Announces Closing of Private Placement | Psychedelic Finance
Summary
VANCOUVER, British Columbia, Dec. 07, 2022 (GLOBE NEWSWIRE) -- BetterLife Pharma Inc. (BetterLife or the Company) (CSE: BETR / OTCQB : BETRF / FRA: NPAU) is pleased to announce that it has closed a non-brokered private placement (the "Offering") by issuing 3,160,000 common shares at a price of USD$0.15 per common share for gross proceeds of USD$474,000. Negev Capital and certain European-based investors participated in the Offering.We are delighted to support BetterLife in the development of promising second generation psychedelics that have significant clinical advantages for neuropsychiatric conditions. Negev aims to support those early-stage companies in need of capital that promote the thoughtful, responsible, medical use of psychedelic medication for psychiatric disorders, and who have excellent management and science teams, and solid intellectual property.Negev believes that psychedelic medications will be not only disruptive to the practice of psychiatry but hold the potential to reduce enormous amounts of human suffering, and is committed to helping the field mature, and further promote ways for these treatments to reach all of those in need.For further information, please visit Negev Capital.BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders.BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic and non-controlled LSD derivative in development and it is unique in that it is unregulated and therefore can be self-administered. BetterLifes pending method of use and formulations patent covers treatment of anxiety related disorders including benzodiazepine dependency.BetterLife also owns a drug candidate for the treatment of viral infections such as COVID-19 and is in the process of seeking strategic alternatives for further development.For further information, please visit BetterLife Pharma.No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.