---
schema_version: "secwatch.filing_event.v1"
accession: "0001516551-23-000103"
form_type: "8-K"
ticker: "SKYE"
cik: "0001516551"
company_name: "Skye Bioscience, Inc."
filed_at: "2023-12-05T23:59:59+00:00"
generated_at: "2026-06-07T17:58:20.712380+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Skye licenses SBI-100 to Tautomer for Africa, terminates UM 8930 license, sells Canadian lab

## Summary
- Exclusive license to Tautomer for SBI-100 (THC prodrug) suppository in Africa for chronic pain and other indications.
- Tautomer to buy $500K of Skye stock within 60 days; potential milestones up to $10.75M plus double-digit royalties.
- Terminated UM 8930 license (SBI-200) effective Jan 30, 2024; no milestones met beyond initial $200K payment.
- Sold Avalite lab facility in Canada for CAD $1.499M; closing expected Jan 15, 2024.
- Skye retains exclusive, perpetual license for UM 5050; deal subject to South African exchange control approval.

## SEC filing metadata
- accession: 0001516551-23-000103
- form_type: 8-K
- ticker: SKYE
- cik: 0001516551
- company_name: Skye Bioscience, Inc.
- filed_at: 2023-12-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 1.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000103/0001516551-23-000103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000103/skye-20231129.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001516551-23-000103
- JSON: https://secwatch.observer/filing/0001516551-23-000103.json
- Plain text: https://secwatch.observer/filing/0001516551-23-000103.txt

## Key facts
- Material Agreements
  Skye Bioscience, Inc. entered into Exclusive License Agreement with Tautomer Bioscience (Pty) Limited valued at potential milestone payments up to $10,750,000; tiered royalties up to mid-double digits; minimum $5 (effective 2023-11-30).
  - Action: entry
  - Agreement: license
  - Counterparty: Tautomer Bioscience (Pty) Limited
  - Value: potential milestone payments up to $10,750,000; tiered royalties up to mid-double digits; minimum $5
  - Effective: 2023-11-30
  source text: On November 30, 2023, Skye Bioscience, Inc., a Nevada corporation (the “Company”) entered into an Exclusive License Agreement (the “License Agreement”) with Tautomer Bioscience (Pty) Limited (“Tautomer”), pursuant to which, among other things, the Company granted to Tautomer an exclusive license to develop, manufacture and commercialize one or more products containing the Company’s proprietary amino acid ester prodrug of delta-9-tetrahydrocannabinol
  evidence_url: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000103/0001516551-23-000103-index.htm
- Material Agreements
  Skye Bioscience, Inc. entered into Offer to Sell with Tab Labs Inc. valued at purchase price CAD $1,499,000 (effective 2023-11-29).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Tab Labs Inc.
  - Value: purchase price CAD $1,499,000
  - Effective: 2023-11-29
  source text: On November 29, 2023, Avalite Sciences, Inc., a wholly-owned subsidiary of the Company (“Avalite”) entered into an Offer to Sell (the “Offer to Sell”) with Tab Labs Inc. (the “Purchaser”) and Colliers Macaulay Nicolls Inc. (the “Agent”), pursuant to which Avalite agreed to sell to the Purchaser the Avalite property located at Unit 104 – 9295 198th Street, Langley, British Columba V1M 3J9, Canada (the “Property”) for a purchase price of CAD $1,499,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000103/0001516551-23-000103-index.htm
- Material Agreements
  Skye Bioscience, Inc. terminated Restated and Amended License Agreement with University of Mississippi valued at termination effective January 30, 2024 (effective 2023-12-01).
  - Action: termination
  - Agreement: license
  - Counterparty: University of Mississippi
  - Value: termination effective January 30, 2024
  - Effective: 2023-12-01
  source text: On December 1, 2023, the Company notified the University of Mississippi (“UM”) that the Company was terminating, in its entirety, that certain Restated and Amended License Agreement, dated as of May 24, 2019, by and between the Company and UM (the “UM 8930 License Agreement”). In accordance with the terms of the UM 8930 License Agreement, the termination of such agreement will be effective on January 30, 2024 (the “Termination Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1516551/000151655123000103/0001516551-23-000103-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.