Cybin Announces Overnight Marketed Public Offering of Common Shares

Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) ("Cybin" or the "Company"), a biotechnology company focused on progressing psychedelic therapeutics, is pleased to announce that it has launched an overnight marketed public offering of common shares in the capital of the Company (the "Shares") at a price per Share and for aggregate gross proceeds to be determined in the context of the market (the "Offering").

The definitive Offering terms will be confirmed at the time of pricing pursuant to the terms of an underwriting agreement to be entered into between the Company, Cantor Fitzgerald Canada Corporation ("Cantor"), Canaccord Genuity Corp. ("Canaccord") and a syndicate of underwriters (collectively, with Cantor and Canaccord, the "Underwriters"), with Cantor and Canaccord acting as co-lead underwriters and Cantor acting as sole bookrunner. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Offering is expected to close on or about August 3, 2021, or such other date as the Underwriters and the Company may agree, and completion of the Offering will be subject to market and other customary conditions, including approval of the Neo Exchange Inc. (the "NEO Exchange").

The Company intends to grant the Underwriters a 30-day option to purchase up to an additional 15% of the Shares offered in the proposed Offering on the same terms and conditions (the "Over-Allotment Option"). The Over-Allotment Option may be exercised in whole or in part as determined by the Underwriters.

The Company intends to use the net proceeds from the Offering for general corporate and working capital purposes.

The Shares will be offered in each of the provinces of Canada, excluding Quebec, pursuant to a prospectus supplement to the Company's short form base shelf prospectus dated July 5, 2021 (the "Base Shelf Prospectus"). The Shares will not be offered or sold in the United States or to U.S. persons except pursuant to Rule 144A or in such other manner as to not require registration under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). 

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been, and will not be registered under the U.S. Securities Act or under any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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.