Silo Pharma (NASDAQ: SILO), a developmental-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, has announced a stock repurchase program. According to the company, its board of directors has approved the program, which will acquire up to $1 million of the company’s common stock. The announcement noted that the company could purchase common stock in a variety of ways, including in the open market and through privately negotiated transactions; all transactions will be in compliance with United States Securities and Exchange Commission rules and guidelines. The repurchase of stocks will depend on available liquidity, cash flows and market conditions and will also take into consideration corporate and regulatory limitations; the company observed that it is not committed to acquiring a specific amount of shares and that the repurchase program may be suspended or discontinued at any time. As of Nov. 10, 2022, the company had approximately 3,138,797 million shares of common stock outstanding. “The current capital market conditions allow us to capture additional value for all shareholders through this measured buyback program,” said Silo Pharma CEI Eric Weisblum in the press release. “Our board of directors and executive management team remain committed to delivering value to our shareholders.”
To view the full press release, visit https://ibn.fm/DiRb9
About Silo Pharma Inc.
Silo Pharma is a developmental-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research indications for people suffering from indications such as Alzheimer’s disease, PTSD and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research that the company believes will be transformative to the well-being of patients and the healthcare industry. For more information about the company, visit www.SiloPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO
About PsychedelicNewsWire
PsychedelicNewsWire (PNW) is a specialized content distribution company that (1) aggregates and distributes news and information on the latest developments in all aspects and advances of psychedelics and their use, (2) creates PsychedelicNewsBreaks designed to quickly update investors on important industry news, (3) leverages a team of expert editors to enhance press releases for maximum impact, (4) assists companies with the management and optimization of social media across a range of platforms, and (5) delivers unparalleled corporate communication solutions. PNW stays abreast of the latest information and has established a reputation as the go to source for coverage of psychedelics, therapeutics and emerging market opportunities. Our team of seasoned journalists has a proven track record of helping both public and private companies gain traction with a wide audience of investors, consumers, media outlets and the general public by leveraging our expansive dissemination network of more than 5,000 key syndication outlets. PNW is committed to delivering improved visibility and brand recognition to companies operating in the emerging markets of psychedelics.
To receive instant SMS alerts, text “Groovy” to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.psychedelicnewswire.com
Please see full terms of use and disclaimers on the PsychedelicNewsWire website applicable to all content provided by PNW, wherever published or re-published: https://www.psychedelicnewswire.com/Disclaimer
Do you have questions or are you interested in working with PNW? Ask our Editor
PsychedelicNewsWire (PNW)
San Francisco, California
www.psychedelicnewswire.com
415.949.5050 Office
Editor@PsychedelicWire.com
PsychedelicNewsWire is part of the InvestorBrandNetwork.
