Awakn Life Sciences Announces Credit Facility
Summary
The principal drawn under the Facility shall become due and payable on December 5, 2026 (the "Maturity Date"), and bears interest at 10% per annum also payable on the Maturity Date.The Grid Note contains certain other customary financial and other covenants and any principal drawn will be used for general working capital purposes. "We continue to make significant progress on research programs, including our lead program AWKN-001 which is in phase 3 in the UK and AWKN-002 which in in phase 2 planning in the US and this Facility extends our runway as we progress towards new milestones," stated Anthony Tennyson, Awakn CEO.About Awakn Life Sciences Corp.Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting addiction. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating the business of the Company. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information.