Psyence Biomedical Ltd._2024-09-300001985062falseQ22025--03-312024-09-3000019850622024-04-012024-09-300001985062pbm:PrivateWarrantsMember2024-04-012024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:IfrsConvertibleDebtMember2024-12-092024-12-090001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-11-272024-11-2700019850622024-07-012024-07-3100019850622024-09-012024-09-300001985062pbm:ReverseMergerAgreementMember2024-11-260001985062pbm:WarrantsWithExercisePrice862.50Member2024-09-300001985062pbm:PublicWarrantsMember2024-03-310001985062pbm:PrivateWarrantsMember2024-03-310001985062pbm:PublicWarrantsMember2024-04-010001985062pbm:PrivateWarrantsMember2024-04-0100019850622024-04-010001985062pbm:PublicWarrantsMember2024-07-012024-07-310001985062pbm:ReverseMergerAgreementMember2024-10-282024-10-280001985062pbm:IfrsConvertibleDebtMemberifrs-full:TopOfRangeMember2024-01-150001985062pbm:IfrsWarrantsMember2024-08-202024-08-200001985062ifrs-full:WarrantReserveMember2024-04-012024-09-300001985062pbm:IfrsConvertibleDebtMember2024-10-012024-10-010001985062pbm:InvestorsMember2024-08-202024-08-200001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMemberpbm:IfrsConvertibleDebtMember2024-12-092024-12-0900019850622024-11-262024-11-260001985062ifrs-full:TopOfRangeMember2024-09-300001985062ifrs-full:BottomOfRangeMember2024-09-300001985062pbm:ReverseMergerAgreementMember2024-10-280001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2024-04-012024-09-300001985062pbm:SecondTrancheNoteMemberpbm:UntilFirstResetDateMember2024-01-252024-01-250001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2024-01-252024-01-250001985062pbm:IfrsConvertibleDebtMemberpbm:InvestorsMemberifrs-full:TopOfRangeMember2024-01-150001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMember2024-04-012024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMember2024-04-012024-09-300001985062pbm:SecondTrancheNoteMember2024-04-012024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:IfrsConvertibleDebtMember2024-10-252024-10-250001985062pbm:PrivateWarrantsMember2024-09-300001985062pbm:InvestorsMember2024-08-200001985062ifrs-full:ParentMemberpbm:DebtIssuedMemberifrs-full:NotLaterThanOneYearMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberifrs-full:NotLaterThanOneYearMember2024-09-300001985062pbm:IfrsAccountsPayableAndAccruedLiabilitiesMemberifrs-full:NotLaterThanOneYearMember2024-09-300001985062ifrs-full:NotLaterThanOneYearMember2024-09-300001985062pbm:PublicWarrantsMember2024-04-012024-09-300001985062pbm:IfrsConvertibleDebtMember2023-04-012023-09-3000019850622024-08-282024-08-2800019850622024-08-280001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMember2024-09-300001985062pbm:IfrsConvertibleDebtMember2024-09-192024-09-190001985062pbm:IfrsConvertibleDebtMember2024-09-102024-09-100001985062pbm:IfrsConvertibleDebtMember2024-09-062024-09-060001985062pbm:IfrsConvertibleDebtMember2024-09-042024-09-040001985062pbm:IfrsConvertibleDebtMember2024-08-202024-08-200001985062pbm:IfrsConvertibleDebtMember2024-06-202024-06-200001985062pbm:IfrsConvertibleDebtMember2024-05-152024-05-1500019850622024-08-282024-09-300001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2023-08-212023-08-210001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMemberpbm:SharePriceMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMemberpbm:HistoricalDailyVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMemberpbm:HistoricalAnnualVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMemberpbm:DiscountRateSharesMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:NcacMemberpbm:AnnualInterestRateMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:SharePriceMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:HistoricalDailyVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:HistoricalAnnualVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:DiscountRateSharesMeasurementInputMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:AnnualInterestRateMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:SharePriceMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsMeasurementInputConversionPriceMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:HistoricalDailyVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:HistoricalAnnualVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:DiscountRateSharesMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:DiscountRateCashMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:AnnualInterestRateMeasurementInputMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberifrs-full:ConstantPrepaymentRateMeasurementInputMember2024-09-300001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:SharePriceMeasurementInputMember2024-09-300001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExpectedLifeMeasurementInputMember2024-09-300001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExpectedDividendYieldMeasurementInputMember2024-09-300001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExercisePriceMeasurementInputMember2024-09-300001985062ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:InterestRateMeasurementInputMember2024-09-300001985062ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:HistoricalVolatilityForSharesMeasurementInputMember2024-09-300001985062pbm:IfrsWarrantsMemberpbm:SharePriceMeasurementInputMember2024-08-200001985062pbm:IfrsWarrantsMemberpbm:MeasurementInputVolatilityMember2024-08-200001985062pbm:IfrsWarrantsMemberpbm:IfrsMeasurementInputRiskFreeInterestRateMember2024-08-200001985062pbm:IfrsWarrantsMemberpbm:IfrsMeasurementInputExpectedTermMember2024-08-200001985062pbm:IfrsWarrantsMemberpbm:IfrsMeasurementInputExercisePriceMember2024-08-200001985062pbm:IfrsWarrantsMemberpbm:FrsMeasurementInputExpectedDividendRateMember2024-08-200001985062pbm:PysenceBiomedIICorpMember2023-04-012024-09-300001985062pbm:PsyenceAustraliaPtyLtd.Member2023-04-012024-09-300001985062pbm:NewcourtAcquisitionCorpMember2023-04-012024-09-300001985062ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2024-09-300001985062ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2024-09-300001985062ifrs-full:ComputerEquipmentMember2024-09-300001985062ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2024-03-310001985062ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2024-03-310001985062ifrs-full:ComputerEquipmentMember2024-03-310001985062ifrs-full:RetainedEarningsMember2024-04-012024-09-300001985062ifrs-full:RetainedEarningsMember2023-04-012023-09-3000019850622024-07-310001985062ifrs-full:OtherReservesMember2024-04-012024-09-300001985062ifrs-full:OtherReservesMember2023-04-012023-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMember2024-01-250001985062pbm:SecondTrancheNoteMemberpbm:InvestorsMember2024-01-250001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2024-01-250001985062pbm:LoanFromRhCapitalFinanceCo.LlcMemberifrs-full:TopOfRangeMember2023-08-210001985062ifrs-full:IssuedCapitalMemberpbm:ThirdPartyAdvisorsMember2024-04-012024-09-300001985062ifrs-full:IssuedCapitalMemberifrs-full:ConvertibleInstrumentsMember2024-04-012024-09-300001985062pbm:ThirdPartyAdvisorsMember2024-04-012024-09-300001985062ifrs-full:ConvertibleInstrumentsMember2024-04-012024-09-300001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2024-04-012024-09-300001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2023-04-012023-09-300001985062ifrs-full:IssuedCapitalMember2023-04-012023-09-300001985062ifrs-full:IssuedCapitalMember2024-04-012024-09-300001985062pbm:WarrantLiabilitiesMemberifrs-full:Level1OfFairValueHierarchyMemberpbm:PublicWarrantsMember2024-09-300001985062pbm:NcacMemberpbm:IfrsPromissoryNoteMemberifrs-full:Level3OfFairValueHierarchyMember2024-09-300001985062pbm:WarrantLiabilitiesMemberpbm:PublicWarrantsMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMember2024-09-300001985062pbm:NcacMemberpbm:IfrsPromissoryNoteMember2024-09-300001985062pbm:IfrsPromissoryNoteMemberifrs-full:Level3OfFairValueHierarchyMember2024-09-300001985062pbm:IfrsConvertibleDebtMemberifrs-full:Level3OfFairValueHierarchyMember2024-09-300001985062pbm:PublicWarrantsMember2024-09-300001985062pbm:IfrsPromissoryNoteMember2024-09-300001985062pbm:IfrsConvertibleDebtMember2024-09-300001985062ifrs-full:Level3OfFairValueHierarchyMember2024-09-300001985062ifrs-full:Level1OfFairValueHierarchyMember2024-09-300001985062ifrs-full:ParentMemberpbm:DebtIssuedMember2024-09-300001985062pbm:IfrsConvertibleDebtMember2024-09-300001985062pbm:IfrsAccountsPayableAndAccruedLiabilitiesMember2024-09-300001985062ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2023-07-012023-09-300001985062ifrs-full:WarrantReserveMember2024-09-300001985062ifrs-full:RetainedEarningsMember2024-09-300001985062ifrs-full:OtherReservesMember2024-09-300001985062ifrs-full:IssuedCapitalMember2024-09-300001985062ifrs-full:RetainedEarningsMember2024-03-310001985062ifrs-full:OtherReservesMember2024-03-310001985062ifrs-full:IssuedCapitalMember2024-03-310001985062ifrs-full:RetainedEarningsMember2023-09-300001985062ifrs-full:OtherReservesMember2023-09-300001985062ifrs-full:IssuedCapitalMember2023-09-300001985062ifrs-full:RetainedEarningsMember2023-03-310001985062ifrs-full:OtherReservesMember2023-03-310001985062ifrs-full:IssuedCapitalMember2023-03-310001985062pbm:IfrsConvertibleDebtMember2024-04-012024-09-300001985062pbm:IfrsWarrantsMember2024-04-012024-09-300001985062ifrs-full:ParentMember2024-04-012024-09-300001985062ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2024-04-012024-09-300001985062ifrs-full:AccumulatedDepreciationAmortisationAndImpairmentMemberifrs-full:ComputerEquipmentMember2023-04-012024-03-310001985062ifrs-full:ParentMember2024-09-300001985062ifrs-full:ParentMember2024-03-3100019850622024-06-300001985062ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2023-09-3000019850622023-09-300001985062ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2023-03-3100019850622023-03-310001985062pbm:SecondTrancheNoteMemberpbm:OnSecondResetDateMember2024-01-250001985062pbm:FirstTrancheNoteMember2024-01-250001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2023-08-210001985062pbm:SecondTrancheNoteMember2024-09-3000019850622023-07-012023-09-300001985062ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2023-04-012023-09-3000019850622023-04-012023-09-3000019850622024-07-012024-09-300001985062ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2024-04-012024-09-300001985062ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2023-04-012024-03-3100019850622024-09-3000019850622024-03-310001985062pbm:IfrsConvertibleDebtMember2024-01-252024-01-250001985062pbm:IfrsConvertibleDebtMember2024-01-152024-01-150001985062pbm:IfrsConvertibleDebtMemberpbm:InvestorsMember2024-01-252024-01-250001985062pbm:BusinessCombinationAgreementWithNewcourtAcquisitionCorp.Member2024-01-230001985062ifrs-full:ParentMember2024-01-252024-01-250001985062ifrs-full:ParentMemberifrs-full:IssuedCapitalMember2023-04-012024-03-310001985062ifrs-full:ParentMember2023-04-012024-03-310001985062pbm:ReverseMergerAgreementMember2024-12-092024-12-090001985062pbm:UnsecuredConvertiblePromissoryNotesMemberpbm:IfrsConvertibleDebtMember2024-09-302024-09-300001985062ifrs-full:IssuedCapitalMember2023-04-012024-03-310001985062pbm:ThirdPartyAdvisorsMember2024-01-252024-01-250001985062pbm:NcacMember2024-01-252024-01-2500019850622024-12-240001985062pbm:BusinessCombinationAgreementWithNewcourtAcquisitionCorp.Memberpbm:InvestorsMember2024-01-1500019850622024-01-252024-01-250001985062country:CApbm:TaxYear2044Member2024-03-310001985062country:AUpbm:IndefinitePeriodMember2024-03-310001985062country:CA2024-03-310001985062country:AU2024-03-310001985062pbm:NcacMember2023-04-012024-03-3100019850622024-12-242024-12-240001985062pbm:SharesIssuedToThirdPartyConsultantsAndLegalAdvisorsMember2024-08-122024-08-120001985062pbm:PublicWarrantsMemberpbm:UnaffiliatedThirdPartyInvestorMember2024-07-012024-07-310001985062ifrs-full:IssuedCapitalMemberpbm:UnaffiliatedThirdPartyInvestorMember2024-07-012024-07-310001985062pbm:SharesIssuedToThirdPartyConsultantsAndLegalAdvisorsMember2024-05-162024-05-160001985062pbm:NcacMember2024-01-260001985062pbm:NcacMember2024-01-250001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2024-01-152024-01-150001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2023-04-012024-03-310001985062pbm:IfrsConvertibleDebtMemberpbm:BusinessCombinationAgreementWithNewcourtAcquisitionCorp.Memberifrs-full:TopOfRangeMember2024-01-150001985062pbm:EquityLineOfCreditAgreementMemberpbm:IfrsConvertibleDebtMember2024-10-252024-10-250001985062pbm:EquityLineOfCreditAgreementMemberpbm:IfrsConvertibleDebtMember2024-08-280001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-11-270001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-08-200001985062pbm:BusinessCombinationAgreementWithNewcourtAcquisitionCorp.Member2024-01-250001985062pbm:WarrantsWithExercisePrice2Member2024-12-240001985062pbm:WarrantsWithExercisePrice2.50Member2024-12-240001985062pbm:WarrantsIssuedOnJanuary252024Member2024-03-310001985062ifrs-full:ParentMemberpbm:DebtIssuedMemberifrs-full:NotLaterThanOneYearMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberifrs-full:NotLaterThanOneYearMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberifrs-full:LaterThanOneYearAndNotLaterThanThreeYearsMember2024-03-310001985062pbm:IfrsAccountsPayableAndAccruedLiabilitiesMemberifrs-full:NotLaterThanOneYearMember2024-03-310001985062ifrs-full:NotLaterThanOneYearMember2024-03-310001985062ifrs-full:LaterThanOneYearAndNotLaterThanThreeYearsMember2024-03-310001985062pbm:PublicWarrantsMember2023-04-012024-03-310001985062pbm:PrivateWarrantsMember2023-04-012024-03-310001985062pbm:IfrsConvertibleDebtMember2022-04-012023-03-3100019850622024-01-250001985062pbm:FirstTrancheNoteMemberpbm:UntilFirstResetDateMember2024-01-250001985062pbm:FirstTrancheNoteMemberpbm:OnSecondResetDateMember2024-01-250001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2023-01-250001985062pbm:PgiPromissoryNoteMemberpbm:IfrsConvertibleDebtMember2024-09-302024-09-300001985062pbm:EquityLineOfCreditAgreementMemberpbm:IfrsConvertibleDebtMember2024-09-302024-09-300001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-09-192024-09-190001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-09-102024-09-100001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-09-062024-09-060001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-09-042024-09-040001985062pbm:IfrsConvertibleDebtMemberpbm:IfrsConvertibleDebtMember2024-08-202024-08-200001985062pbm:IfrsConvertibleDebtMember2024-06-202024-06-200001985062pbm:FirstTrancheNoteMember2024-06-202024-06-200001985062pbm:IfrsConvertibleDebtMember2024-05-152024-05-150001985062pbm:FirstTrancheNoteMember2024-05-152024-05-150001985062pbm:EquityLineOfCreditAgreementMemberpbm:IfrsConvertibleDebtMember2024-08-282024-08-280001985062pbm:IfrsConvertibleDebtMemberpbm:SharePriceMeasurementInputMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberpbm:HistoricalDailyVolatilityForSharesMeasurementInputMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberpbm:HistoricalAnnualVolatilityForSharesMeasurementInputMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberpbm:DiscountRateSharesMeasurementInputMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberpbm:DiscountRateCashMeasurementInputMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberpbm:AnnualInterestRateMeasurementInputMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberifrs-full:ConstantPrepaymentRateMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:SharePriceMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExpectedLifeMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExpectedDividendYieldMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExercisePriceMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:InterestRateMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:HistoricalVolatilityForSharesMeasurementInputMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:SharePriceMeasurementInputMember2024-01-250001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExpectedLifeMeasurementInputMember2024-01-250001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExpectedDividendYieldMeasurementInputMember2024-01-250001985062ifrs-full:Level2OfFairValueHierarchyMemberpbm:ExercisePriceMeasurementInputMember2024-01-250001985062ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:InterestRateMeasurementInputMember2024-01-250001985062ifrs-full:Level2OfFairValueHierarchyMemberifrs-full:HistoricalVolatilityForSharesMeasurementInputMember2024-01-250001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2023-10-052023-10-050001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMember2024-01-252024-01-250001985062pbm:PysenceBiomedIICorpMember2023-04-012024-03-310001985062pbm:PsyenceAustraliaPtyLtd.Member2023-04-012024-03-310001985062pbm:NewcourtAcquisitionCorpMember2023-04-012024-03-310001985062ifrs-full:RetainedEarningsMember2023-04-012024-03-310001985062ifrs-full:RetainedEarningsMember2022-04-012023-03-310001985062pbm:EquityLineOfCreditAgreementMemberpbm:IfrsConvertibleDebtMember2024-04-012024-04-010001985062pbm:SecondTrancheNoteMember2024-07-152024-07-150001985062pbm:SecondTrancheNoteMember2024-06-172024-06-170001985062pbm:SecondTrancheNoteMember2024-05-312024-05-310001985062pbm:UnaffiliatedThirdPartyInvestorMember2024-07-310001985062pbm:NcacMember2024-01-250001985062ifrs-full:OtherReservesMember2023-04-012024-03-310001985062ifrs-full:OtherReservesMember2022-04-012023-03-310001985062pbm:FirstTrancheNoteMember2024-07-150001985062pbm:FirstTrancheNoteMember2024-06-170001985062pbm:SecondTrancheNoteMember2024-03-310001985062pbm:FirstTrancheNoteMemberpbm:InvestorsMember2024-01-150001985062ifrs-full:IssuedCapitalMemberpbm:ThirdPartyAdvisorsMember2023-04-012024-03-310001985062pbm:ThirdPartyAdvisorsMember2023-04-012024-03-310001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2023-04-012024-03-310001985062pbm:LoanFromRhCapitalFinanceCo.LlcMember2022-04-012023-03-310001985062ifrs-full:IssuedCapitalMember2022-04-012023-03-310001985062pbm:WarrantLiabilitiesMemberifrs-full:Level2OfFairValueHierarchyMemberpbm:PrivateWarrantsMember2024-03-310001985062pbm:WarrantLiabilitiesMemberifrs-full:Level1OfFairValueHierarchyMemberpbm:PublicWarrantsMember2024-03-310001985062pbm:WarrantLiabilitiesMemberpbm:PublicWarrantsMember2024-03-310001985062pbm:WarrantLiabilitiesMemberpbm:PrivateWarrantsMember2024-03-310001985062pbm:IfrsPromissoryNoteMemberifrs-full:Level3OfFairValueHierarchyMember2024-03-310001985062pbm:IfrsConvertibleDebtMemberifrs-full:Level3OfFairValueHierarchyMember2024-03-310001985062pbm:IfrsPromissoryNoteMember2024-03-310001985062pbm:IfrsConvertibleDebtMember2024-03-310001985062ifrs-full:Level3OfFairValueHierarchyMember2024-03-310001985062ifrs-full:Level2OfFairValueHierarchyMember2024-03-310001985062ifrs-full:Level1OfFairValueHierarchyMember2024-03-310001985062pbm:PublicWarrantsMember2024-01-250001985062pbm:PrivateWarrantsMember2024-01-250001985062ifrs-full:ParentMemberpbm:DebtIssuedMember2024-03-310001985062pbm:IfrsConvertibleDebtMember2024-03-310001985062pbm:IfrsAccountsPayableAndAccruedLiabilitiesMember2024-03-310001985062ifrs-full:RetainedEarningsMember2022-03-310001985062ifrs-full:OtherReservesMember2022-03-310001985062ifrs-full:IssuedCapitalMember2022-03-310001985062pbm:IfrsConvertibleDebtMember2023-04-012024-03-310001985062country:CAifrs-full:UnusedTaxLossesMember2024-03-310001985062country:AUifrs-full:UnusedTaxLossesMember2024-03-310001985062pbm:LoanLiabilityMember2024-03-310001985062ifrs-full:ComputerEquipmentMember2024-03-310001985062country:AUifrs-full:UnusedTaxLossesMember2023-03-310001985062pbm:LoanLiabilityMember2023-03-310001985062pbm:PgiPromissoryNoteMemberpbm:IfrsConvertibleDebtMember2024-09-300001985062pbm:UnsecuredConvertiblePromissoryNotesMemberifrs-full:ParentMemberpbm:NotesPayableOnDateOfThatIsOneYearAnniversaryAfterBusinessCombinationOrJanuary252025ClosingMember2024-01-250001985062pbm:SecondTrancheNoteMember2024-07-150001985062pbm:SecondTrancheNoteMember2024-06-170001985062pbm:FirstTrancheNoteMember2024-05-310001985062pbm:NcacMember2024-03-3100019850622021-04-012022-03-310001985062ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2022-03-3100019850622022-03-310001985062country:CA2023-04-012024-03-310001985062country:CA2022-04-012023-03-310001985062ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2022-04-012023-03-3100019850622023-04-012024-03-3100019850622022-04-012023-03-31iso4217:USDxbrli:sharesiso4217:CADiso4217:USDxbrli:sharesxbrli:pureiso4217:AUDpbm:Optionspbm:itempbm:Y
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THESECURITIES EXCHANGE ACT OF 1934
For the month of January 2025
Commission File Number: 001-41937
Psyence Biomedical Ltd.
(Translation of registrant’s name into English)
121 Richmond Street West
Penthouse Suite 1300
Toronto, Ontario M5H 2K1
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
X Form 20-F ☐ Form 40-F
Explanatory Note
Psyence Biomedical Ltd. (the “Company”) is filing this Current Report on Form 6-K to (i) file its unaudited interim consolidated financial statements for the three and six months ended September 30, 2024 and 2023 (the “Interim Financial Statements”), along with its corresponding Management’s Discussion and Analysis, and (ii) its updated audited consolidated financial statements for the fiscal years ended March 31, 2024, and March 31, 2023 (the “Updated Financial Statements”).
The Updated Financial Statements reflect adjustments made solely to account for the Company’s previously announced reverse stock split, which became effective on November 26, 2024. The reverse stock split was implemented at a ratio of 75-to-1, and all share and per-share amounts in the Updated Financial Statements have been retroactively adjusted to reflect this change for all periods presented. No changes were made to the Management’s Discussion and Analysis related to the audited condensed financial statements for the years ended March 31, 2024 and 2023.
Other than the retroactive adjustments related to the reverse stock split and certain updates to the Subsequent Events section, no changes have been made to the previously filed audited condensed financial statements for the years ended March 31, 2024 and 2023. The accompanying notes to the Updated Financial Statements provide additional details regarding the reverse stock split and its impact on the Company’s financial disclosures.
EXHIBIT INDEX
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Dated: January 23, 2025
Psyence Biomedical Ltd. | |
| | |
By: | /s/ Neil Maresky | |
Name: | Dr. Neil Maresky | |
Title: | Chief Executive Officer and Director | |