Oscillate Plc Psych Capital Investee Update

 
TIDMMUSH 
 
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO 
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION 
(EU) NO. 596/2014, AS AMENDED ("MAR"). ON THE PUBLICATION OF THIS 
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS 
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 
 
5 December 2023 
 
Oscillate Plc 
 
AQSE: MUSH 
 
("Oscillate" or the "Company") 
 
Psych Capital Investee Update 
 
The Directors note that the acquisition of Short Wave Pharma Inc. ("Shortwave") 
by Psych Capita Plc ("Psych") completed in November 2023. As consideration, 
Psych issued 71,170,131 ordinary shares for a deemed value of £3.5 million for 
Short Wave. 
 
Oscillate, continues to own 46,042,516 ordinary shares of Psych from when the 
company admitted to the Aquis Growth Market in June 2022, representing 12.75% of 
the issued share capital of Psych. At the current bid price, the shareholding is 
worth approximately £1.38 million. The Directors will continue to assess this 
investment to ascertain an exit opportunity should it feel appropriate and 
within the planning of the Company's own future. 
 
In the meantime, the Directors remain optimistic at the advances that the Short 
Wave acquisition represents in the innovative psychedelics space. 
 
Shortwave Pharma is developing breakthrough therapies to address unmet medical 
needs in mental health, particularly in the field of eating disorders. Short 
Wave is an Israeli-based biopharmaceutical company developing novel formulations 
of psilocybin and additional APIs, as well as customised delivery methods, to 
effect significant therapeutic benefits for patients suffering from mental 
health disorders, with an initial focus on eating disorders. 
 
Steve Xerri, CEO of Oscillate commented: "It would be prudent of shareholders in 
Oscillate to acknowledge and be kept aware of the close developments in Psych, 
they have gained a new CEO who is keen to oversee the trial phasing of this 
science and trials are due to be started in Q1 2024. We are watching closely and 
we wish the board of directors every success in their near, mid and future 
plans. 
 
For the shareholders of Oscillate, the Psych investment represents a solid and 
meaningful investment in the innovative medical science space, and provides an 
exciting opportunity for what this investment can bring in the short term." 
 
Psych's announcement is found at the following link: Investegate | Company 
Announcement (https://www.investegate.co.uk/announcement/rns/psych-capital-plc- 
-psy/board-changes-and-shortwave-pharma-completion-/7864241) 
 
 The Directors of the Company accept responsibility for the contents of this 
announcement. 
 
Enquiries 
 
Company: 
John Treacy 
ir@oscillateplc.com 
 
https://oscillateplc.com 
 
Corporate Adviser: 
Peterhouse Capital Limited 
Guy Miller & Heena Karani 
Telephone: +44 (0) 20 7220 9796 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

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December 05, 2023 02:00 ET (07:00 GMT)

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