SASKATOON, SK, May 28, 2026 /CNW/ -Â ZYUS Life Sciences Corporation (the "Company") (TSXV:ZYUS), a clinical-stage life sciences company focused on the development and commercialization of novel non-opioid drug candidates for pain management, is pleased to announce that its wholly-owned subsidiary, ZYUS Life Sciences Inc. ("ZYUS Inc."), has closed a second tranche (the "Second Tranche") of a secured loan financing (the "Secured Loan") on May 27, 2026 with certain lenders (the "Lenders"), including certain insiders of the Company, for gross proceeds of CAD$265,000. The closing of the Second Tranche brings the total amount of the Secured Loan to CAD$445,000. ZYUS Inc. expects to close additional tranches under the Secured Loan. The aggregate size of the Secured Loan offering is up to CAD$2,000,000. Subject to receipt of approval from the TSX Venture Exchange (the "Exchange"), the Secured Loan will be secured by a security interest granted under the terms of a general security agreement (subject to an exception in respect of certain assets). The Secured Loan bears interest at a rate of 12% per annum, payable on maturity, is pre-payable by ZYUS Inc. at any time without penalty or premium, and will mature on November 19, 2026.
One insider of the Company (the "Insider") participated in the Second Tranche for an aggregate amount of CAD$45,000. Such participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as the Insider is a member of the Board of Directors of the Company (the "Director Lender").
The Company has relied on the exemption from the valuation requirement pursuant to section 5.5(b) (Issuer Not Listed on Specified Markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by section 5.7(1)(a) (Fair Market Value Not More Than 25 ...
