NCAC - Psyence Biomed part of Psyence Group and Newcourt Acquisition announce business combination

• Newcourt Acquisition ( NASDAQ: NCAC ), a special purpose acquisition company formed for the purpose of acquiring or merging with one or more businesses enters agreement with Psyence Biomed, a wholly owned subsidiary of Psyence ( OTCQB:PSYGF ) to create a public company leveraging natural psilocybin in the treatment of palliative care.
• Psyence Biomed is Psyence’s clinical trial division.
• The combined company would be capitalized with a minimum of $20M, have access to Nasdaq listed Newcourt shareholders, promoters and advisors.
• The business combination is anticipated to conclude in H1 2023.
• The combination is expected to be completed by Psyence Biomed acquiring the SPAC through the merger of the SPAC with a to-be-incorporated subsidiary of Psyence Biomed.

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