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Cynapsus Therapeutics Completes Short-Form Amalgamation with Wholly-Owned Subsidiary

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TORONTO – Cynapsus Therapeutics Inc., a specialty central nervous system  pharmaceutical company developing and preparing to commercialize a fast-acting, easy-to-use, sublingual thin film for the on-demand management of debilitating OFF episodes associated with Parkinson’s disease, today announced that, in order to simplify the corporate structure of Cynapsus and to reduce administrative costs, effective January 1, 2016, it has completed a vertical short-form amalgamation pursuant to the Canada Business Corporations Act with its previously wholly-owned subsidiary, Adagio Pharmaceuticals Ltd.

Pursuant to the amalgamation, all of the issued and outstanding shares of Adagio have been cancelled and the assets and liabilities of Adagio have been assumed by Cynapsus. No securities of Cynapsus were issued in connection with the amalgamation and the share capital of Cynapsus remains unchanged. The amalgamation will not have any significant effect on the business and operations of Cynapsus.