Ensysce secures up to $10M R&D funding from Galephar in equity-based development deal

Ensysce Biosciences, Inc.

Galephar commits up to $10 million to support R&D, manufacturing, and testing of PF614 and PF614-MPAR.
Ensysce issues 1% of outstanding shares as restricted stock vesting in thirds based on project milestones.
Development costs compensated with 50% restricted stock and 50% freely tradeable shares at 1.2x actual cost.
15-year term with IP created related to Ensysce's products owned exclusively by Ensysce.
Share price fixed using trailing five-day closing price; no future variable pricing permitted.

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