Havn Life Sciences Files Preliminary Prospectus in Connection with Bought Deal Equity Financing

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

December 18, 2020 – Vancouver, BC – Havn Life Sciences Inc. (CSE : HAVN) (FSE : 5NP) (the “Company” or “Havn Life”) is pleased to announce, further to its previously announced offering (the “Offering”) on December 15, 2020, that it has filed a preliminary short form prospectus (the “Preliminary Prospectus”) with the securities commissions or similar authorities in each province of Canada, other than Quebéc.

Pursuant to the underwriting agreement between the Company and Eight Capital (the “Underwriter”), the Underwriter has agreed to purchase 9,346,000 units of the Company (the “Units”), on a “bought deal” basis, at a price per Unit of CAD$1.07 (the “Issue Price”) for gross proceeds of CAD$10,000,220. The Company has also granted the Underwriter an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following closing of the Offering. If this option is exercised in full, an additional CAD$1,500,033 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be CAD$11,500,253.

Each Unit will be comprised of one common share of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of CAD$1.34, for a period of 36 months following the closing of the Offering.

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

The Offering is scheduled to close on or about January 7, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or under any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of a U.S. person (as defined in the U.S. Securities Act) or a person in the United States, absent registration or an applicable exemption from the registration requirements thereunder. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Preliminary Prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each province of Canada, other than Quebéc. The Preliminary Prospectus is still subject to completion or amendment. A copy of the Preliminary Prospectus can be obtained under the Company’s corporate profile on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.

On Behalf of The Board of Directors
Tim Moore
Chief Executive Officer

About Havn Life Sciences Inc.

Havn Life Sciences is a Canadian biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural healthcare products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind. Learn more at: havnlife.com and follow us on Facebook, Twitter, Instagram and Youtube.

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