TRYP THERAPEUTICS INC. ANNOUNCES CLOSING OF THIRD TRANCHE OF PRIVATE PLACEMENT

SAN DIEGO, July 8, 2022 /CNW/ -- Tryp Therapeutics (CNSX:TRYP.CN) (OTC-BB:TRYPF) ("Tryp" or the "Company"), a clinical-stage biotechnology company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announces that it has completed a third tranche of its private placement (the "Private Placement") previously announced on February 4, 2022, February 17, 2022 and April 22, 2022 for aggregate gross proceeds of $150,000 through the issuance of 1,000,000 Units of the Company (the "Units") at a price of $0.15 per Unit. Each Unit is comprised of one (1) Common Share and one-half of one (1/2) Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder to acquire an additional Common Share at a price of $0.20 per Common Share for a period of 24 months from the date of issuance.