0001833141-24-000005 | 40-F | XBRL Viewer

SHARE CAPITAL (Tables)

12 Months Ended

Mar. 31, 2024

Share Capital, Reserves, and Other Equity Interest [Abstract]

Cybin US Class B Shares


			Number of Class B Shares
Balance as at March 31, 2022			1,047,135.1
Issued on achievement of milestones			360,374.2
Converted into Common Shares			(876,967.2)
Balance as at March 31, 2023			530,542.1
Converted to Common Shares			(494,457.4)
Balance as at March 31, 2024			36,084.7

Summary of warrants

The continuity of the outstanding warrants for the years ended March 31, 2024 and March 31, 2023, are as follows:


	Number of Warrants	Weighted average exercise price
		$
Common Share Purchase Warrants
As at March 31, 2022	25,548,836	1.22
Exercised	(1,164,638)	0.31
Expired	(1,153,713)	0.75
As at March 31, 2023	23,230,485	1.29
Issued	90,931,373	0.67
Exercised	(101,000)	0.53
Expired	(7,805,360)	3.47
Outstanding as at March 31, 2024	106,255,498	0.60
Exercisable as at March 31, 2024	39,588,831	0.44

Unit Purchase Warrants(1)
As at March 31, 2022	868,740	2.25
Exercised	—	—
As at March 31, 2023	868,740	2.25
Expired	(868,740)	2.25
Outstanding as at March 31, 2024	—	—
Exercisable as at March 31, 2024	—	—

(1) Each unit consisted of one Common Share and one half of one Common Share purchase warrant, with each Common Share purchase warrant being exercisable to acquire one Common Share at an exercise price of $3.25 per Common Share.

The following summarizes information about Common Shares purchase warrants outstanding at March 31, 2024:


Date of Expiry	Warrants outstanding	Warrants exercisable	Weighted average of exercisable price	Estimated grant date fair value	Weighted average remaining contractual life
			$	$000’s	Years
June 15, 2025	12,800,000	12,800,000	0.25	2,319	2.21
August 20, 2025	1,475,125	1,475,125	0.64	680	2.39
November 15, 2025	1,150,000	1,150,000	0.25	220	2.63
August 4, 2028(1)	24,163,706	24,163,706	US$0.40	4,578	4.34
May 14, 2029(2)	66,666,667	—	US$0.51	17,842	5.12
	106,255,498	39,588,831	0.44	25,639	4.38

1) On August 4, 2023, the August 2023 Warrants were issued at US$0.40 which was equivalent to $0.53.

(2) On November 14, 2023, the November 2023 Warrants were issued at US$0.51 which was equivalent to $0.70.

Summary of significant unobservable inputs used, equity

The Company estimated the aggregate fair value of the August 2023 Warrants using the Black-Scholes option pricing model to be $4,600(US$3,442) with the following assumptions:

Risk-free interest rate 3.87%

Expected annual volatility rate based on comparable companies 95.0%

Expected life (in years) 5

Expected divided yield 0.00%

Share price US$0.34

Exercise price US$0.40

The Company estimated the aggregate fair value of the November 2023 Warrants using the Black-Scholes option pricing model to be $17,842(US$12,299) with the following assumptions:

Risk-free interest rate 3.76%

Expected annual volatility rate based on comparable companies 95.0%

Expected life (in years) 5.5

Expected divided yield 0.00%

Share price US$0.46

Exercise price US$0.51

Summary of number and weighted average exercise prices of share options

The changes in options for the years ended March 31, 2024 and 2023 are as follows:


	Number of Options	Weighted average exercise price
		$
As at March 31, 2022	28,885,002	1.45
Granted	2,475,000	0.91
Forfeited/Expired	(1,790,202)	2.20
As at March 31, 2023	29,569,800	1.36
Granted	38,445,000	0.69
Forfeited/Expired	(1,813,800)	1.16
Outstanding as at March 31, 2024	66,201,000	0.93
Exercisable as at March 31, 2024	56,449,750	0.98

The following summarizes information about stock options outstanding on March 31, 2024:


	Exercise Price	Number of options outstanding	Number of options exercisable	Weighted average remaining life	Recognized estimated grant date fair value
Expiry date	$			Years	$000’s
June 15, 2025	0.25	2,350,000	2,350,000	1.21	420
June 30, 2025	0.90	500,000	500,000	1.25	183
August 14, 2025	1.00	737,500	737,500	1.37	429
September 30, 2025	0.75	270,000	260,625	1.50	97
October 12, 2025	0.75	3,000,000	3,000,000	1.53	1,607
November 4, 2025	0.75	5,700,000	5,700,000	1.60	3,057
November 13, 2025	0.88	500,000	500,000	1.62	315
November 15, 2025	0.75	375,000	375,000	1.63	110
November 15, 2025	0.91	200,000	200,000	1.63	53
December 11, 2025	1.48	700,000	700,000	1.70	741
December 14, 2025	1.74	1,589,100	1,589,100	1.71	1,971
December 28, 2025	1.89	760,000	760,000	1.74	1,027
January 2, 2026	1.89	225,000	225,000	1.76	304
February 15, 2026	2.03	150,000	150,000	1.88	218
February 16, 2026	2.03	150,000	150,000	1.88	218
March 10, 2026	1.39	1,186,300	1,186,300	1.94	1,185
March 15, 2026	1.55	300,000	300,000	1.95	360
March 28, 2026	1.36	1,575,000	1,575,000	1.99	1,540
March 29, 2026	1.32	37,500	37,500	1.99	36
March 31, 2026	1.35	250,000	250,000	2.00	243
June 28, 2026	2.90	3,160,000	3,160,000	2.24	6,589
August 16, 2026	2.48	215,000	215,000	2.38	383
August 18, 2026	2.48	300,000	300,000	2.38	519
September 26, 2026	0.79	975,000	975,000	2.49	439


	Exercise Price	Number of options outstanding	Number of options exercisable	Weighted average remaining life	Recognized estimated grant date fair value
September 27, 2026	2.87	195,000	195,000	2.49	403
September 27, 2026	3.15	545,000	545,000	2.49	1,105
November 16, 2026	0.72	500,000	125,000	2.63	81
December 31, 2026	1.50	1,250,000	1,250,000	2.75	1,352
December 31, 2026	3.15	20,000	20,000	2.75	18
March 4, 2027	1.13	1,075,600	1,075,600	2.92	878
March 4, 2027	3.15	40,000	40,000	2.92	25
March 8, 2027	1.02	400,000	400,000	2.93	295
June 30, 2027	1.00	65,000	65,000	3.25	32
August 14, 2027	1.00	20,000	20,000	3.37	14
September 30, 2027	1.00	220,000	190,625	3.50	95
June 30, 2028	0.44	11,310,000	6,805,000	4.25	3,297
September 26, 2028	0.79	235,000	105,000	4.49	98
November 16, 2028	0.72	25,100,000	20,412,500	4.63	9,438
March 20, 2029	0.56	20,000	5,000	4.97	2
		66,201,000	56,449,750	2.40	39,177

Summary of measurement of stock option fair value assumptions

The aggregate estimated grant date fair value was determined to be $4,080, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.47
Exercise price	$	0.44

The aggregate estimated grant date fair value was determined to be $577, calculated using the Black-Scholes option pricing model with the following assumptions:

Options expiring on September 26, 2026.


Risk-free interest rate	4.68%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3.00
Expected dividend yield	0.00%
Share price	$	0.79
Exercise price	$	0.79

Options expiring on September 26, 2028.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.79
Exercise price	$	0.79

The aggregate estimated grant date fair value was determined to be $10,907, calculated using the Black-Scholes option pricing model with the following assumptions:

Options expiring on November 16, 2026.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3.00
Expected dividend yield	0.00%
Share price	$	0.60
Exercise price	$	0.72

Options expiring on November 16, 2028.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.60
Exercise price	$	0.72

The aggregate estimated grant date fair value was determined to be $8, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.52%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.56
Exercise price	$	0.56

The aggregate estimated grant date fair value was determined to be $32, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.10%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.72
Exercise price	$	1.00

The estimated grant date fair value was determined to be $183, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.14%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.72
Exercise price	$	0.90

The estimated grant date fair value was determined to be $429, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.11%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.97
Exercise price	$	1.00

The estimated grant date fair value was determined to be $14, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	2.88%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5
Expected dividend yield	0.00%
Share price	$	0.97
Exercise price	$	1.00

The estimated grant date fair value was determined to be $102, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.72%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.67
Exercise price	$	0.75

The estimated grant date fair value was determined to be $98, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.32%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5
Expected dividend yield	0.00%
Share price	$	0.67
Exercise price	$	1.00

The estimated grant date fair value was determined to be $53, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.58
Exercise price	$	0.91

The estimated grant date fair value was determined to be $110, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.58
Exercise price	$	0.75

SHARE CAPITAL - Summary of number and weighted average exercise prices of share options (Details)					12 Months Ended
	Mar. 20, 2024 $ / shares	Nov. 16, 2023 shares $ / shares	Sep. 26, 2023 shares $ / shares	Jun. 29, 2023 shares $ / shares	Mar. 31, 2024 $ / shares	Mar. 31, 2024 $ / shares	Mar. 31, 2024 shares $ / shares	Mar. 31, 2024 $ / shares	Mar. 31, 2023 shares $ / shares	Mar. 31, 2024 shares	Mar. 31, 2024
Share Capital, Reserves, and Other Equity Interest [Abstract]
Number of options, beginning balance (in shares) \| shares							29,569,800		28,885,002
Number of share options granted in share-based payment arrangement (in shares) \| shares		25,600,000	1,210,000	11,615,000			38,445,000		2,475,000
Number of share options exercised in share-based payment arrangement \| shares							(1,813,800)		(1,790,202)
Number of options, ending balance (in shares)							66,201,000	66,201,000	29,569,800
Number of share options exercisable in share-based payment arrangement										56,449,750	56,449,750
Weighted average exercise price, beginning balance (in dollars per share)						$ 1.36			$ 1.45
Weighted average exercise price of share options granted in share-based payment arrangement	$ 0.56	$ 0.715	$ 0.79	$ 0.44		0.69			0.91
Weighted average exercise price of share options exercised in share-based payment arrangement									2.20
Weighted average exercise price of share options forfeited in share-based payment arrangement (in CAD per share)						1.16
Weighted average exercise price, ending balance (in dollars per share)						0.93			$ 1.36
Weighted average exercise price of share options exercisable in share-based payment arrangement					$ 0.98	$ 0.98	$ 0.98	$ 0.98
Disclosure of number and weighted average remaining contractual life of outstanding share options [table]
Number of share options outstanding in share-based payment arrangement									29,569,800	66,201,000	66,201,000
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life of outstanding share options					2 years 4 months 24 days
Option Expiration Period Three
Share Capital, Reserves, and Other Equity Interest [Abstract]
Number of options, ending balance (in shares)								737,500
Number of share options exercisable in share-based payment arrangement											737,500
Disclosure of number and weighted average remaining contractual life of outstanding share options [table]
Number of share options outstanding in share-based payment arrangement											737,500
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life of outstanding share options					1 year 4 months 13 days
Option Expiration Period One
Share Capital, Reserves, and Other Equity Interest [Abstract]
Number of options, ending balance (in shares)								2,350,000
Number of share options exercisable in share-based payment arrangement											2,350,000
Disclosure of number and weighted average remaining contractual life of outstanding share options [table]
Number of share options outstanding in share-based payment arrangement											2,350,000
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Weighted average remaining contractual life of outstanding share options					1 year 2 months 15 days

ACQUISITION - Narrative (Details) $ / shares in Units, $ in Thousands	5 Months Ended	12 Months Ended
	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 CAD ($)	Oct. 23, 2023 shares patent_family application patent $ / shares	Feb. 28, 2023 CAD ($)
Disclosure of detailed information about business combination [line items]
Net loss for the year		$ (78,080)	$ (47,490)
Small Pharma Inc. ("Small Pharma")
Disclosure of detailed information about business combination [line items]
Ratio of common shares issued				24.09%
Number of instruments or interests issued or issuable (in shares) \| shares				80,945,254
Unexercised stock options in subsidiary, compensation for cancellation (in CAD per share) \| $ / shares				$ 0.001
Number of active patent families \| patent_family				17
Number of pending patent applications \| application				92
Number of granted patents \| patent				30
Net loss for the year	$ (1,666)
Small Pharma Inc. ("Small Pharma") \| Canada
Disclosure of detailed information about business combination [line items]
Deferred tax liability (asset)					$ 9,393
Small Pharma Inc. ("Small Pharma") \| United Kingdom
Disclosure of detailed information about business combination [line items]
Deferred tax liability (asset)					$ 46,631

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - CAD ($) $ in Thousands	Total	LPC Purchase Agreement	Share capital	Share capital LPC Purchase Agreement	Warrants	Options	Contributed surplus	Deficit	Accumulated other comprehensive loss
Balance (in shares) at Mar. 31, 2022			175,111,654
Balance at Mar. 31, 2022	$ 76,155		$ 141,451		$ 11,423	$ 23,783	$ 525	$ (100,661)	$ (366)
Changes in equity [abstract]
At-the-market offering - net of share issuance costs (in shares)			20,754,120
At-the-market offering - net of share issuance costs	13,202		$ 13,202
Shares issued on Adelia milestones (in shares)			3,603,742
Shares issued on Adelia milestones	2,988		$ 2,988
Warrants exercised (in shares)			1,164,638
Warrants exercised	362		$ 527		(165)
Options forfeited	0					(1,180)	1,180
Warrants expired	0				(397)		397
Finders' warrants	0		(6)		6
Share-based compensation	4,686				6	4,680
Unrealized loss on translation of foreign operations	(1,669)								(1,669)
Net loss for the year	(47,490)							(47,490)
Balance at Mar. 31, 2023	48,234		$ 158,162		10,873	27,283	2,102	(148,151)	(2,035)
Balance (in shares) at Mar. 31, 2023			200,634,154
Changes in equity [abstract]
Issuance of common shares as commitment fee for equity financing (in shares)			439,768,583
Share issuance net of share issuance costs	239,753		$ 217,311		22,442
Share issuance on business acquisition (in shares)			80,945,254	1,925,000
Share issuance on business acquisition	53,481	$ 147	$ 53,481	$ 147
At-the-market offering - net of share issuance costs (in shares)			34,140,507
At-the-market offering - net of share issuance costs	14,700		$ 14,700
Issuance of common shares as commitment fee for equity financing (in shares)			2,538,844
Options expired	0					(1,992)	1,992
Warrants exercised (in shares)			101,000
Warrants exercised	56		$ 76		(20)
Warrants expired	0				(7,656)		7,656
Share-based compensation	13,886					13,886
Unrealized loss on translation of foreign operations	(250)								(250)
Net loss for the year	(78,080)							(78,080)
Balance at Mar. 31, 2024	$ 291,927		$ 443,877		$ 25,639	$ 39,177	$ 11,750	$ (226,231)	$ (2,285)
Balance (in shares) at Mar. 31, 2024			760,053,342

ACQUISITION (Tables)

12 Months Ended

Mar. 31, 2024

Disclosure of detailed information about business combination [abstract]

Disclosure of detailed information about business combination


Acquisition Summary
Share Consideration	$	53,481
Fair value of purchaser consideration	$	53,481

Provisional Allocation of Purchase Price
Cash	$	7,632
Current assets	$	510
Net equipment	$	37
Intellectual property	$	29,339
Right of use asset	$	412
Lease liability	$	(415)
Liabilities assumed	$	(6,686)


Goodwill	$	22,652
Total allocation of purchase price	$	53,481

The following revenue and net loss is attributable to the period from Acquisition date to March 31, 2024 and included in these consolidated financial statements.


Revenue	$	—
Net loss	$	(1,666)

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION (Policies)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Statement of compliance

The Company’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).

The policies applied to these consolidated financial statements are based on IFRS, which have been applied consistently to all periods presented. These consolidated financial statements were issued and effective as at June 25, 2024, the date the Board of Directors approved these consolidated financial statements.

Basis of measurement

These consolidated financial statements have been prepared on a going concern basis, under the historical cost convention, except for certain financial instruments classified at fair value upon initial recognition.

Functional and presentation currency

The functional currency of a company is the currency of the primary economic environment in which the company operates. The presentation currency for a company is the currency in which the company chooses to present its financial statements.

These consolidated financial statements are presented in Canadian dollars, the Company’s presentation currency. The subsidiaries’ functional currencies are as follows:


Entity	Currency	Ownership
Cybin Corp.	Canadian dollars	100%
Journey	Canadian dollars	100%
Serenity	Canadian dollars	100%
Cybin US1	Canadian dollars	100%
Adelia	U.S. dollars	100%
Cybin IRL	U.S. dollars	100%
Cybin UK Ltd.2	Great Britain pounds	100%
Small Pharma Inc. (“Small Pharma”)2	Canadian dollars	100%

1 For accounting purposes, Cybin US is a wholly-owned subsidiary of Cybin. Certain Former Adelia Shareholders (as defined below) hold Class B Shares (defined below) in Cybin US.

2 Cybin UK Ltd and Small Pharma Inc. which were acquired on October 23, 2023. Cybin UK Ltd. was formerly Small Pharma Ltd. and was a

wholly-owned subsidiary of Small Pharma Inc.

On April 1, 2024 Small Pharma Inc was amalgamated with Cybin Corp.

Basis of consolidation

CORPORATE INFORMATION

Cybin Inc. (“Cybin”), was incorporated under the Business Corporations Act (British Columbia) on October 13, 2016. These consolidated financial statements include the accounts of Cybin’s eight subsidiaries (together with Cybin, the “Company”): Cybin Corp., Natures Journey Inc. (“Journey”), Serenity Life Sciences Inc. (“Serenity”), Cybin US Holdings Inc. (“Cybin US”), Adelia Therapeutics Inc. (“Adelia”) Cybin IRL Limited (“Cybin IRL”), Cybin UK Ltd., and Small Pharma Inc. (“Small Pharma”). Cybin’s head office, principal address and registered address and records office is 100 King Street West, Suite 5600, Toronto, Ontario M5X 1C9.

The Company is a biopharmaceutical company focused on advancing psychedelic-based therapies, delivery mechanisms, novel compounds and protocols as potential treatments for various psychiatric and neurological conditions. The Company is developing technologies and delivery systems aimed at improving the pharmacokinetics of its psychedelic-based molecules while retaining the therapeutic benefit. These new molecules and delivery systems are expected to be studied through clinical trials to confirm safety and efficacy.

These consolidated financial statements as at, and for the year ended, March 31, 2024 were approved and authorized for issue by the board of directors on June 25, 2024.

Stock exchange listings

Cybin’s common shares (“Common Shares”) are listed for trading on the Cboe Canada Exchange Inc. (“Cboe’) and NYSE American LLC under the symbol “CYBN” and on the Frankfurt Stock Exchange under the symbol “R7E1”.

Basis of consolidation

The Company consolidates entities which it controls. Control exists when the Company has the power, directly and indirectly to govern the financial and operating policies of an entity and be exposed to the variable returns from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.

Intercompany balances, and any unrealized gains and losses or income and expenses arising from transactions with controlled entities are eliminated to the extent of the Company’s interest in the entity.

Cash and cash equivalents

Cash and cash equivalents are comprised of cash on deposit and highly liquid short-term interest-bearing variable rate investments with an original maturity of three months or less, or which are readily convertible into a known amount of cash with no significant changes. As at March 31, 2024 and March 31, 2023 there were no cash equivalents.

Inventories

Inventories include raw materials and finished goods. Raw materials are stated at the lower of cost and replacement cost with cost determined on a first-in, first-out basis. The Company monitors the shelf life and expiry of finished goods to determine when inventory values are not recoverable and a write-down is necessary.

Equipment

Equipment consists of lab and computer equipment and are recorded at cost less accumulated depreciation and accumulated impairment losses. Cost includes all expenditures incurred to bring the asset to the location and condition necessary for them to be operating in the manner intended by management.

Depreciation is recognized based on the cost of the item less its estimated residual value, over its estimated useful life on a straight-line basis at the following rates:

•Lab equipment– 5 years

•Computer equipment– 3 years

An item of equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statement of loss and comprehensive loss when the asset is derecognized. The assets’ residual values, useful lives and methods of depreciation are reviewed at each reporting date and adjusted prospectively if appropriate.

Intangible Assets

Intangible assets include expenditures related to obtaining patents, software related items and in-process research and development (“IPR&D”). The amortization of software related items begins when the software is in use and will be amortized on a straight-line basis over a period of 3 years. The amortization of patent costs commences when the associated products are available for commercial sale and is amortized on a straight-line basis over its respective legal lives or economic life, if shorter. Patents have an estimated useful life of 17 years. Amortization methods, useful lives, and residual values are reviewed at each reporting date and adjusted if appropriate. Acquired IPR&D is capitalized based on technical feasibility and remains on the balance sheet, subject to impairment. Acquired IPR&D is initially measured at fair value and recognized as an indefinite-lived intangible asset until completion or abandonment of the related project. Amortization commences when the assets become available for use. Expenditures on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding, are recognized in operations as incurred.

Development activities involve a plan or design for the production of new, or substantially improved, products or processes related to the Company’s development of psychedelic-based therapeutics. Development expenditures are capitalized only if the relevant IFRS criteria are met. Capitalized development expenditures are amortized from the beginning of commercial production and sales and are amortized on a straight-line basis over the remaining useful life of the related patents. Development expenditures, in relation to the Company’s psychedelic-based therapeutics, have not satisfied the above criteria and are recognized in operations as incurred.

Goodwill

Goodwill represents the excess of the consideration transferred for the acquisition of an entity over the fair value of the net identifiable assets. Goodwill is initially measured at cost, and subsequently recorded at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Company’s cash-generating units (“CGUs”) that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those CGUs. The Company tests for impairment annually, or when indications of impairment exist. Impairment is determined for goodwill by assessing if the carrying value of CGUs, including goodwill, exceeds its recoverable amount determined as the greater of the estimated fair value less costs of disposal and the value in use. Impairment losses recognized in respect of the CGUs are first allocated

to the carrying value of goodwill and any excess is allocated to the carrying amount of assets in the CGUs. Any goodwill impairment is recorded in the consolidated statement of loss and comprehensive loss.

Impairment of long-lived assets

Long-lived assets, including equipment and intangible assets, are reviewed for impairment at each consolidated statement of financial position date or whenever events or changes in circumstances indicate that the carrying amount of the asset exceeds its recoverable amount. Where the carrying value of an asset exceeds its recoverable amount, which is the higher of value in use and fair value less costs to sell, the asset is written down accordingly. Where it is not possible to estimate the recoverable amount of an individual asset, the impairment test is carried out on the asset’s cash-generating unit, which is the lowest group of assets in which the asset belongs for which there are separate cash inflows that are largely independent of the cash inflows from other assets. An impairment loss is charged to operations.

Financial instruments

Recognition and initial measurement

The Company initially recognizes financial instruments on the trade date, which is the date on which the Company becomes a party to the contractual provisions of the instrument. A financial asset or financial liability is measured initially at fair value plus/minus, for an item not at fair value through profit or loss (“FVTPL”), transaction costs that are directly attributable to its acquisition or use.

Classification

Financial asset

On initial recognition, a financial asset is classified as measured at: amortized cost, fair value through other comprehensive income (“FVOCI”), or FVTPL.

A financial asset is measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL:

•The asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and

•The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

The Company currently measures accounts receivable at amortized cost.

A debt instrument is measured at FVOCI only if it meets both of the following conditions and is not designated as at FVTPL:

•The asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and

•The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in FVOCI. This election is made on an investment-by-investment basis. The Company has not elected to present any assets as FVOCI.

Cash is measured at FVTPL.

In addition, on initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost as FVOCI or FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.

Business model assessment

The Company makes an assessment of the objective of a business model in which an asset is held at a portfolio level because this best reflects the way the business is managed and information is provided to management. The information considered includes:

•The stated policies and objectives for the portfolio and the operation of those policies in practice. In particular, whether management’s strategy focuses on earning contractual interest revenue, maintaining a particular interest rate profile, matching the duration of the financial assets to the duration of the liabilities that are funding those assets or realizing cash flows through the sale of the assets;

•How the performance of the portfolio is evaluated and reported to the Company’s management;

•The risks that affect the performance of the business model (and the financial assets held within that business model) and how those risks are managed;

•How managers of the business are compensated (e.g. whether compensation is based on the fair value of the assets managed or the contractual cash flows collected); and

•The frequency, volume and timing of sales in prior periods, the reasons for such sales and its expectation about future sales activity. However, information about sales activity is not considered in isolation, but as part of an overall assessment of the Company’s stated objective for managing the financial asset is achieved and how cash flows are realized.

Assessment whether contractual cash flows are solely payments of principal and interest

For the purpose of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as profit margin.

In assessing whether the contractual cash flows are solely payments of principal and interest, the Company considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of the contractual cash flows such that it would not meet this condition. In making the assessment, the Company considers:

•contingent events that would change the amount and timing of cash flows;

•leverage features;

•prepayment and extension terms;

•terms that limit the Company’s claim to cash flows from specified assets (e.g. non-recourse asset arrangements); and

•features that modify consideration of the time value of money– e.g. periodical rest of interest rates

Reclassifications

The Company would reclassify a financial asset when the Company changes its business model for managing the financial asset. All reclassifications are recorded at fair value at the date of the reclassification, which becomes the new carrying value.

Financial assets are not reclassified subsequent to their initial recognition, except in the period after the Company changes its business model for managing financial assets.

Financial liabilities

The Company classifies its financial liabilities at amortized cost or FVTPL. The Company currently measures accounts payable, lease liabilities and accrued liabilities at amortized cost and contingent consideration payable at FVTPL.

Derecognition

Financial assets

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transition in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Company neither transfers nor retains substantially all of the risks and rewards of ownership and it does not retain control of the financial asset.

On derecognition of a financial asset, the difference between the carrying amount of the asset (or the carrying amount allocated to the portion of the asset derecognized) and the sum of (i) the consideration received (including any new assets obtained less any new liability assumed) and (ii) cumulative gain or loss that had been recognized in other comprehensive income is recognized in profit or loss.

Financial liabilities

The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire.

Modifications of financial assets and financial liabilities

Financial assets

If the terms of a financial asset are modified, the Company evaluates whether the cash flows of the modified asset are substantially different. If the cash flows are substantially different, then the contractual rights to cash flows from the original financial asset are deemed to have expired. In this case, the original financial asset is derecognized and a new financial asset is recognized at fair value.

If the cash flows of the modified asset carried at amortized cost are not substantially different, then the modification does not result in derecognition of the financial asset. In this case, the Company recalculates the gross carrying amount of the financial asset and recognizes the amount arising from adjusting the gross carrying amount as a modification gain or loss in profit or loss. If such a modification is carried out because of

financial difficulties of the borrower, then the gain or loss is presented together with impairment losses. In other cases, it is presented as interest income.

Financial liabilities

The Company derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different. In this case, a new financial liability based on the modified terms is recognized at fair value. The difference between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognized in profit or loss.

Offsetting

Financial assets and financial liabilities are offset and the net amount presented in the consolidated statement of financial position when, and only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.

Income and expenses are presented on a net basis only when permitted under IFRS, or for gains and losses arising from a group of similar transactions.

Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or, in its absence, the most advantageous market to which the Company has access at that date. The fair value of a liability reflects its non-performance risk.

When one is available, the Company measures the fair value of an instrument using the quoted price in an active market for that instrument. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

If there is no quoted price in an active market, then the Company uses valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction.

The best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price (i.e. the fair value of the consideration given or received). If the Company determines that the fair value on initial recognition differs from the transaction price and the fair value is evidenced neither by a quoted price in an active market for an identical asset or liability nor based on a valuation technique for which any observable inputs are judged to be insignificant in relation to the measurement, then the financial instrument is initially measured at fair value, adjusted to defer the difference between the fair value on initial recognition and the transaction price. Subsequently, that difference is recognized in profit or loss on an appropriate basis over the life of the instrument but no later than when the valuation is wholly supported by observable market data or the transaction is closed out.

If an asset or a liability at fair value has a bid price and an ask price, then the Company measures assets and long positions at bid price and liabilities and short positions at an ask price.

Portfolio of financial assets and financial liabilities that are exposed to market risk and credit risk that are managed by the Company on the basis of the net exposure to either market or credit risk are measured on the

basis of a price that would be received to sell a net long position (or paid to transfer a net short position) for the particular risk exposure. Portfolio-level adjustment e.g. bid-ask adjustment or credit risk adjustments that reflect the measurement on the basis of the net exposure are allocated to the individual assets and liabilities on the basis of the relative risk adjustment of each of the individual instruments in the portfolio.

The fair value of a financial liability with a demand feature is not less than the amount payable on demand, discounted from the first date on which the amount could be required to be paid. The Company recognizes transfers between levels of the fair value hierarchy as of the end of the reporting period during which the change has occurred.

Impairment

Credit-impaired financial assets

At each reporting date, the Company assesses whether financial assets carried at amortized costs and debt financial assets carried at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.

Evidence that a financial asset is credit-impaired includes the following observable data:

•Significant financial difficulty of the borrower or issuer;

•A breach of contract such as a default of past due event;

•The restructuring of a loan or advance by the Company on terms that the Company would not consider otherwise;

•It is becoming probable that the borrower will enter bankruptcy or other financial reorganization; or

•The disappearance of an active market for a security because of financial difficulties.

A loan that has been renegotiated due to a deterioration in the borrower’s condition is usually considered to be credit-impaired unless there is evidence that the risk of not receiving contractual cash flows has reduced significantly and there are no other indicators of impairment.

Recognition of allowance of expected credit losses (“ECL”) in the consolidated statement of financial position

The Company recognizes a loss allowance for ECL on trade receivables that are measured at amortized cost. The Company’s applied the simplified approach for trade receivables and recognizes the lifetime ECL for these assets. The ECL on trade receivables is estimated using a provision matrix based on the Company’s historical credit loss experience, adjusted for factors that are specific to the customers, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.

For all other financial assets measured at amortized cost of FVOCI, the Company recognizes lifetime ECL only when there has been a significant increase in credit risk since initial recognition. If the credit risk on such financial instruments has not increased significantly since initial recognition, the Company measures the loss allowance on those financial instruments at an amount equal to 12-months ECL.

Lifetime ECL represents the ECL that will result from all possible default events over the expected life of a financial asset. In contrast, 12-month ECL represents the portion of lifetime ECL that is expected to result from default events on a financial asset that are possible within 12 months after the reporting date. In assessing whether the credit risk on a financial asset has increased significantly since initial recognition, the Company compares the risk of default occurring on the financial asset at the reporting date with the risk of default

occurring at the initial recognition. The Company considers both quantitative and qualitative factors that are supportable, including historical experience and forward-looking information that is available without undue cost or effort.

Irrespective of the above assessment, the Company presumes that the credit risk on a financial asset has increased significantly since initial recognition when contractual payments are more than 30 days past due, unless the Company has reasonable and supportable information that demonstrates otherwise. Despite the foregoing, the Company presumes that the credit risk on a financial asset has not increased significantly since initial recognition if the financial asset is determined to have low credit risk at the reporting date.

The Company regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit risk before the amount becomes pas due.

Definition of default:

For internal credit risk management purposes, the Company considers a financial asset not recoverable if the customer balance owing is 180 days past due and information obtained from the customer and other external factors indicate that the customer is unlikely to pay its creditors in full.

Write-off

Financial assets are written off (either partially or in full) when there is no realistic prospect of recovery. This is generally the case when the Company determines that the counterparty does not have assets or sources of income that could general sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Company’s procedures for recovery of amounts due.

Taxation

Income tax comprises current and deferred tax. Income tax is recognized in the consolidated statement of loss and comprehensive loss except to the extent that it relates to items recognized directly in equity, in which case the income tax is also recognized directly in equity.

Current income tax is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted, at the end of the reporting period, and any adjustment to tax payable in respect of previous years.

Provisions for taxes are made using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant factors. The Company reviews the adequacy of these provisions at the end of the reporting period. However, it is possible that at some future date an additional liability could result from audits by taxing authorities. Where the outcome of these tax-related matters is different from the amounts that were initially recorded, such differences will affect the tax provisions in the period in which such determination is made.

Deferred income tax is recorded using the asset and liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences do not result in deferred tax assets or liabilities: the initial recognized of assets or liabilities that affect neither accounting or taxable loss; or difference relating to investment in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The

amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the consolidated statement of financial position date.

A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilized.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its correct tax assets and liabilities on a net basis.

Share capital

Equity instruments are contracts that give a residual interest in the net assets of the Company. Financial instruments issued by the Company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. The Common Shares and the Company’s Common Share purchase warrants, and options are classified as equity instruments.

Incremental costs directly attributable to the issue of new Common Shares, or warrants are shown in equity as a deduction, net of tax, from the proceeds.

Share-based compensation

Under the Company’s equity incentive plan, all stock options granted may have graded vesting periods and are exercisable up to a maximum of 10 years form the date of grant. Each tranche of an award with graded vesting periods is considered a separate grant at each grant date for the calculation of fair value, and the resulting fair value is amortized over the vesting period of the respective tranches. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted, the estimated volatility, estimated risk free rate and estimated forfeitures.

If a grant of the share-based payments is cancelled or settled during the vesting period (other than a grant cancelled by forfeiture when the vesting conditions are not satisfied or options granted in error and cancelled retroactively), the Company accounts for the cancellation or settlement as an acceleration of vesting, and recognizes immediately the amount that otherwise would have been recognized for services over the remainder of the vesting period.

The amount recognized for goods or services received during the vesting period is based on the best available estimate of the number of equity instruments anticipated to vest. The Company revises that estimate, if necessary, if subsequent information indicates that the number of share options anticipated to vest differs from previous estimates. On the vesting date, the Company revises the estimate to equal the number of equity instrument that ultimately vested. After the vesting date, the Company makes no subsequent adjustment to total equity for goods or services received if the share options are later forfeited or they expire at the end of the share option’s life.

If a grant of the share based payment is modified during the vesting period (other than a grant cancelled by forfeiture when the vesting conditions are not satisfied) and the fair value of the new instruments is higher than the fair value of the original instrument, the incremental fair value granted is included in the measurement of the amount recognized for services received over the period from modification date until the date when the modified equity instruments vests, in addition to the amount based on the grant date fair value of the original equity instruments, which is recognized over the remainder of the original vesting period of the original instrument.

Warrants

The Company follows the relative fair value method with respect to the measurement of Common Shares and warrants issued as units. The proceeds from the issuance of units are allocated between share capital and warrants. The warrant component is recorded in equity reserve. Unit proceeds are allocated to Common Shares and warrants using the Black-Scholes option pricing model and the share price at the time of financing. If and when the warrants are exercised, consideration paid by the warrant holder, together with the amount previously recognized in warrant reserve, is recorded as an increase to share capital. A forfeiture rate is estimated on the grant date and is adjusted to reflect the actual number of warrants that vest. When stock options or warrants are cancelled, they are treated as if they have vested on the date of collation and any cost not yet recognized in profit or loss is immediately expensed. Upon expiration of warrants, the amount applicable to expired warrants is moved to contributed surplus.

Loss per share

Basic loss per share is calculated using the weighted-average number of shares outstanding during the period. The diluted earnings (loss) per share reflects the potential dilution of Common Share equivalents, such as outstanding stock options and warrants, in the weighted average number of Common Shares outstanding during the period, if they are dilutive.

Currency translation

All figures presented in the consolidated financial statements are reflected in Canadian dollars unless otherwise noted.

Foreign currency transactions are translated into Canadian dollars at exchange rates in effect on the date of the transactions. Monetary assets and liabilities denominated in foreign currencies at the consolidated statement of financial position date are translated to Canadian dollars at the foreign exchange rate applicable as that date. Realized and unrealized exchange gains and losses are recognized through profit or loss.

The assets and liabilities of foreign operations are translated into Canadian dollars at period-end exchange rates. Income and expenses, and cash flows of foreign operations are translated into Canadian dollars using average exchange rates. Exchange differences resulting from translating foreign operations are recognized in other comprehensive income (loss) and accumulated separately in shareholders’ equity.

Foreign currency translation gains or losses arising from a monetary item receivable or payable to a foreign operation, the settlement of which is neither planned nor likely to occur in the foreseeable future and which in substance is considered to form part of the net investment in the foreign operation, are recognized in other comprehensive income (loss) in the translation reserve.

Provisions

Provisions are recorded when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the consolidated statement of financial position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to

settle the present obligation, its carrying amount is the present value of those cash flows. When some or all of the economic benefits required to settle, a provision is expected to be recovered from a third party, the receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount receivable can be measured reliably.

New standards and interpretations not yet adopted

IAS 1, Presentation of Financial Statements ("IAS 1") - Classification of Liabilities as Current or Non-Current

In January 2020, the IASB issued amendments to IAS 1. The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the consolidated statements of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current. The amendments include clarifying the classification requirements for debt a company might settle by converting it into equity. The amendments are effective for annual reporting periods beginning on or after January 1, 2024, with earlier application permitted. The Company has determined that adoption of these amendments has no significant effect on the Company's consolidated financial statements.

All other IFRS and amendments issued but not yet effective have been assessed by the Company and are not expected to have a material impact on the Company's consolidated financial statements.

New standards and interpretations

Amendments to IAS 1 and IFRS Practice Statement 2

In February 2021, the IASB issued amendments to IAS 1 and IFRS Practice Statement 2, Making Materiality Judgements, in which it provides guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policies disclosures that are more useful by replacing the requirement for entities to disclose "significant" accounting policies with a requirement to disclose their "material" accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting disclosures. The amendments to IAS 1 are applicable for annual periods beginning on or after January 1, 2023 with earlier application permitted. Since the amendments to IFRS Practice Statement 2 provide non-mandatory guidance on the application of the definition of material to accounting policy information, an effective date for these amendments is not necessary. The Company has determined that adoption of these amendments has no significant effect on the Company's consolidated financial statements.

IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors ("IAS 8") - Definition of Accounting Estimates

In February 2021, the IASB amendments to IAS 8. The amendment will require the disclosure of material accounting policy information rather than disclosing significant accounting policies and clarifies how to distinguish changes in accounting policies from changes in accounting estimates. Under the new definition, accounting estimates are "monetary amounts in financial statements that are subject to measurement uncertainty". The amendment provides clarification to help entities to distinguish between accounting policies and accounting estimates. The amendments are effective for annual periods beginning on or after January 1, 2023. The Company has determined that adoption of these amendments has no significant effect on the Company's consolidated financial statements.

IAS 12, Income Taxes ("IAS 12") - Deferred Tax related to Assets and Liabilities Arising from a Single Transaction

In May 2021, the IASB issued amendments to IAS 12. The amendment narrows the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal taxable and deductible temporary differences. As a result, companies will need to recognize a deferred tax asset and deferred tax liability for temporary differences arising on initial recognition of transactions such as leases and decommissioning obligations. The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and are to be applied retrospectively. The Company has determined that adoption of these amendments has no significant effect on the Company's consolidated financial statements.

FINANCIAL INSTRUMENTS - Schedule of Changes in Fair Value of Financial Instruments (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Changes in fair value measurement, assets [abstract]
Change in fair value of investments measured at fair value through profit or loss	$ 0	$ (260)
Level 3 of fair value hierarchy \| Investments
Changes in fair value measurement, assets [abstract]
Balance at beginning of period	0	242
Interest income	0	18
Change in fair value of investments measured at fair value through profit or loss	0	(260)
Balance at end of period	$ 0	$ 0

- Definition

The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]

+ References + Details

SHARE CAPITAL - Narrative - Stock options (Details) $ / shares in Units, $ in Thousands									12 Months Ended
	Mar. 20, 2024 shares $ / shares	Nov. 16, 2023 shares $ / shares	Sep. 26, 2023 shares $ / shares	Jun. 29, 2023 shares $ / shares	Nov. 16, 2022 shares $ / shares	Sep. 30, 2022 shares $ / shares	Aug. 15, 2022 shares $ / shares	Jun. 30, 2022 shares $ / shares	Mar. 31, 2024 CAD ($) shares $ / shares	Mar. 31, 2023 CAD ($) shares $ / shares	Mar. 31, 2024	Mar. 31, 2022 shares	Nov. 05, 2020
Disclosure of classes of share capital [line items]
Shares available for grant, percent of total shares outstanding (up to)													20.00%
Number of share options granted in share-based payment arrangement (in shares)		25,600,000	1,210,000	11,615,000					38,445,000	2,475,000
Weighted average exercise price of share options granted in share-based payment arrangement \| $ / shares	$ 0.56	$ 0.715	$ 0.79	$ 0.44					$ 0.69	$ 0.91
Number of share options outstanding in share-based payment arrangement									66,201,000	29,569,800	66,201,000	28,885,002
Award vesting period		2 years
Number of options held in escrow (in shares)									0	0
Share-based compensation \| $									$ 13,886	$ 4,686
Immediate Vesting
Disclosure of classes of share capital [line items]
Number of options vested (in shares)				1,500,000
Share Options, Vesting, First Tranche
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)		18,850,000
Award vesting period			3 months	3 months
Number of options vested (in shares)			375,000	700,000
Share Options, Vesting, Second Tranche
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)		6,750,000
Award vesting period			6 months	1 year
Number of options vested (in shares)			200,000	100,000
Share Options, Vesting, Third Tranche
Disclosure of classes of share capital [line items]
Award vesting period			1 year	2 years
Number of options vested (in shares)			400,000	9,315,000
Share Options, Vesting, Fourth Tranche
Disclosure of classes of share capital [line items]
Award vesting period			15 months
Number of options vested (in shares)			100,000
Share Options, Vesting, Fifth Tranche
Disclosure of classes of share capital [line items]
Award vesting period			18 months
Number of options vested (in shares)			135,000
Option Expiration Period Twenty Four
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement			975,000								975,000
Option Expiration Period Thirty Seven
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement			235,000								235,000
Option Expiration Period Twenty Seven
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement		500,000									500,000
Option Expiration Period Thirty Eight
Disclosure of classes of share capital [line items]
Number of share options outstanding in share-based payment arrangement		25,100,000									25,100,000
Options
Disclosure of classes of share capital [line items]
Share-based compensation \| $									$ 13,886	$ 4,680
Executive officers
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)		22,200,000		3,763,000
Employees
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)	20,000							65,000
Weighted average exercise price of share options granted in share-based payment arrangement \| $ / shares								$ 1.00
Consultant
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)		500,000	1,075,000	3,076,000	200,000	270,000	800,000	500,000
Weighted average exercise price of share options granted in share-based payment arrangement \| $ / shares					$ 0.91	$ 0.75	$ 1.00	$ 0.90
Employee
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)		1,300,000	135,000	3,991,000		245,000	20,000
Weighted average exercise price of share options granted in share-based payment arrangement \| $ / shares						$ 1.00	$ 1.00
Director
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)		1,600,000		785,000
Consultant two
Disclosure of classes of share capital [line items]
Number of share options granted in share-based payment arrangement (in shares)					375,000
Weighted average exercise price of share options granted in share-based payment arrangement \| $ / shares					$ 0.75
Option contract \| Employees
Disclosure of classes of share capital [line items]
Award vesting period	2 years							2 years
Option contract \| Consultant
Disclosure of classes of share capital [line items]
Award vesting period						2 years	2 years

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Analysis of income and expense [abstract]
Payroll, consulting and benefits	$ 8,248	$ 6,272
Capital market	11,519	6,323
Office and administration	2,945	3,731
Professional and consulting fees	4,918	2,142
Investor relations	1,896	984
Marketing media	1,895	881
Business development	896	654
Listing fees	271	354
General and administrative costs	$ 32,588	$ 21,341

SHARE CAPITAL - Summary of measurement of stock option fair value assumptions (Details)
$ / shares in Units, $ in Thousands

12 Months Ended

Mar. 20, 2024

CAD ($)

$ / shares

Nov. 16, 2023

$ / shares

Sep. 26, 2023

CAD ($)

$ / shares

Jun. 29, 2023

CAD ($)

$ / shares

Nov. 16, 2022

CAD ($)

$ / shares

Sep. 30, 2022

CAD ($)

$ / shares

Aug. 15, 2022

CAD ($)

$ / shares

Jun. 30, 2022

CAD ($)

$ / shares

Mar. 31, 2024

CAD ($)

Nov. 14, 2023

CAD ($)

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

3.52%

3.78%

Expected volatility, share options granted

95.00%

Option life, share options granted | yr

5.00

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.56

$ 0.47

Exercise price, share options granted (in CAD per share)

$ 0.56

$ 0.44

Weighted average fair value at measurement date, share options granted | $

$ 8

$ 577

$ 4,080

$ 39,177

$ 10,907

Summary of measurement of stock option fair value assumptions

The aggregate estimated grant date fair value was determined to be $4,080, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.47
Exercise price	$	0.44

The aggregate estimated grant date fair value was determined to be $577, calculated using the Black-Scholes option pricing model with the following assumptions:

Options expiring on September 26, 2026.


Risk-free interest rate	4.68%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3.00
Expected dividend yield	0.00%
Share price	$	0.79
Exercise price	$	0.79

Options expiring on September 26, 2028.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.79
Exercise price	$	0.79

The aggregate estimated grant date fair value was determined to be $10,907, calculated using the Black-Scholes option pricing model with the following assumptions:

Options expiring on November 16, 2026.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3.00
Expected dividend yield	0.00%
Share price	$	0.60
Exercise price	$	0.72

Options expiring on November 16, 2028.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.60
Exercise price	$	0.72

The aggregate estimated grant date fair value was determined to be $8, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.52%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.56
Exercise price	$	0.56

The aggregate estimated grant date fair value was determined to be $32, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.10%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.72
Exercise price	$	1.00

The estimated grant date fair value was determined to be $183, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.14%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.72
Exercise price	$	0.90

The estimated grant date fair value was determined to be $429, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.11%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.97
Exercise price	$	1.00

The estimated grant date fair value was determined to be $14, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	2.88%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5
Expected dividend yield	0.00%
Share price	$	0.97
Exercise price	$	1.00

The estimated grant date fair value was determined to be $102, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.72%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.67
Exercise price	$	0.75

The estimated grant date fair value was determined to be $98, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.32%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5
Expected dividend yield	0.00%
Share price	$	0.67
Exercise price	$	1.00

The estimated grant date fair value was determined to be $53, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.58
Exercise price	$	0.91

The estimated grant date fair value was determined to be $110, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.58
Exercise price	$	0.75

Option Expiration Period Twenty Seven

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

4.28%

Expected volatility, share options granted

85.00%

Option life, share options granted | yr

3.00

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.60

Exercise price, share options granted (in CAD per share)

$ 0.72

Weighted average fair value at measurement date, share options granted | $

$ 81

Option Expiration Period Thirty Eight

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

4.28%

Expected volatility, share options granted

95.00%

Option life, share options granted | yr

5.00

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.60

Exercise price, share options granted (in CAD per share)

$ 0.72

Weighted average fair value at measurement date, share options granted | $

9,438

Option Expiration Period Thirty Seven

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

4.28%

Expected volatility, share options granted

95.00%

Option life, share options granted | yr

5.00

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.79

Exercise price, share options granted (in CAD per share)

$ 0.79

Weighted average fair value at measurement date, share options granted | $

Option Expiration Period Twenty Four

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

4.68%

Expected volatility, share options granted

85.00%

Option life, share options granted | yr

3.00

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.79

Exercise price, share options granted (in CAD per share)

$ 0.79

Weighted average fair value at measurement date, share options granted | $

$ 439

Employees

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

3.10%

Expected volatility, share options granted

95.00%

Option life, share options granted

5.00

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.72

Exercise price, share options granted (in CAD per share)

$ 1.00

Weighted average fair value at measurement date, share options granted | $

$ 32

Consultants

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

3.78%

3.72%

3.11%

3.14%

Expected volatility, share options granted

85.00%

Option life, share options granted

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.58

$ 0.67

$ 0.97

$ 0.72

Exercise price, share options granted (in CAD per share)

$ 0.91

$ 0.75

$ 1.00

$ 0.90

Consultant

Disclosure of classes of share capital [line items]

Weighted average fair value at measurement date, share options granted | $

$ 53

$ 102

$ 429

$ 183

Consultant two

Disclosure of classes of share capital [line items]

Weighted average fair value at measurement date, share options granted | $

$ 110

Employee

Disclosure of classes of share capital [line items]

Risk free interest rate, share options granted

3.78%

3.32%

2.88%

Expected volatility, share options granted

85.00%

95.00%

Option life, share options granted

Expected dividend as percentage, share options granted

0.00%

Weighted average share price, share options granted

$ 0.58

$ 0.67

$ 0.97

Exercise price, share options granted (in CAD per share)

$ 0.75

$ 1.00

Weighted average fair value at measurement date, share options granted | $

$ 98

$ 14

INTANGIBLE ASSETS (Tables)

12 Months Ended

Mar. 31, 2024

Intangible Assets [Abstract]

Schedule of intangible assets


	IP Research & Development	Patents	Licenses	Software	Total
Cost	$	$	$	$	$
Balance as at March 31, 2022	1,566	443	—	74	2,083
Additions	1,342	495	1,330	—	3,167
Effect of foreign exchange	168	40	49	—	257
Balance as at March 31, 2023	3,076	978	1,379	74	5,507
Acquisition of Small Pharma	29,339	—	—	—	29,339
Additions	—	689	—	—	689
Effect of foreign exchange	25	1	2	—	28
Balance as at March 31, 2024	32,440	1,668	1,381	74	35,563

Accumulated Amortization
Amortization charge	—	—	19	18	37
Balance as at March 31, 2023	—	—	19	18	37
Amortization charge	—	—	37	24	61
Balance as at March 31, 2024	—	—	56	42	98

Net book value as at March 31, 2023	3,076	978	1,360	56	5,470
Net book value as at March 31, 2024	32,440	1,668	1,325	32	35,465

CORPORATE INFORMATION (Details)	Mar. 31, 2024 subsidiary
Corporate information and statement of IFRS compliance [abstract]
Number of subsidiaries	8

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION - Functional and presentation currency (Details)	12 Months Ended
	Mar. 31, 2024
Cybin Corp.
Disclosure of subsidiaries [line items]
Ownership	100.00%
Journey
Disclosure of subsidiaries [line items]
Ownership	100.00%
Serenity
Disclosure of subsidiaries [line items]
Ownership	100.00%
Cybin US
Disclosure of subsidiaries [line items]
Ownership	100.00%
Adelia
Disclosure of subsidiaries [line items]
Ownership	100.00%
Cybin IRL
Disclosure of subsidiaries [line items]
Ownership	100.00%
Cybin UK Ltd.
Disclosure of subsidiaries [line items]
Ownership	100.00%
Small Pharma Inc. ("Small Pharma")
Disclosure of subsidiaries [line items]
Ownership	100.00%

EQUIPMENT (Details) - CAD ($) $ in Thousands	12 Months Ended
EQUIPMENT (Details) - CAD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	$ 450
Balance at end of period	266	$ 450
Net book value	266	450
Lab Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	374
Balance at end of period	234	374
Net book value	234	374
Computer Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	76
Balance at end of period	32	76
Net book value	32	76
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	903	713
Additions	21	142
Acquisition from Small Pharma	37
Computer equipment write-down	(33)
Effect of foreign exchange	(1)	(48)
Balance at end of period	930	903
Net book value	930	903
Cost \| Lab Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	664	475
Additions	0	142
Acquisition from Small Pharma	0
Computer equipment write-down	0
Effect of foreign exchange	0	(47)
Balance at end of period	664	664
Net book value	664	664
Cost \| Computer Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	239	238
Additions	21	0
Acquisition from Small Pharma	37
Computer equipment write-down	(33)
Effect of foreign exchange	(1)	(1)
Balance at end of period	266	239
Net book value	266	239
Accumulated Depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(453)	(222)
Computer equipment write-down	(15)
Depreciation charge	223	214
Effect of foreign exchange	3	17
Balance at end of period	(664)	(453)
Net book value	(664)	(453)
Accumulated Depreciation \| Lab Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(290)	(138)
Computer equipment write-down	0
Depreciation charge	137	135
Effect of foreign exchange	3	17
Balance at end of period	(430)	(290)
Net book value	(430)	(290)
Accumulated Depreciation \| Computer Equipment
Reconciliation of changes in property, plant and equipment [abstract]
Balance at beginning of period	(163)	(84)
Computer equipment write-down	(15)
Depreciation charge	86	79
Effect of foreign exchange	0	0
Balance at end of period	(234)	(163)
Net book value	$ (234)	$ (163)

SHARE CAPITAL - Summary of stock option information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 $ / shares	Mar. 31, 2024 shares	Mar. 31, 2024	Mar. 20, 2024 CAD ($)	Nov. 16, 2023	Nov. 14, 2023 CAD ($)	Sep. 26, 2023 CAD ($)	Jun. 29, 2023 CAD ($)	Mar. 31, 2023 shares	Mar. 31, 2022 shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of share options outstanding in share-based payment arrangement			66,201,000	66,201,000						29,569,800	28,885,002
Number of share options exercisable in share-based payment arrangement			56,449,750	56,449,750
Weighted average remaining contractual life of outstanding share options	2 years 4 months 24 days
Weighted average fair value at measurement date, share options granted	$ 39,177				$ 8		$ 10,907	$ 577	$ 4,080
Option Expiration Period One
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		$ 0.25
Number of share options outstanding in share-based payment arrangement				2,350,000
Number of share options exercisable in share-based payment arrangement				2,350,000
Weighted average remaining contractual life of outstanding share options	1 year 2 months 15 days
Weighted average fair value at measurement date, share options granted	$ 420
Option Expiration Period Two
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.90
Number of share options outstanding in share-based payment arrangement				500,000
Number of share options exercisable in share-based payment arrangement				500,000
Weighted average remaining contractual life of outstanding share options	1 year 3 months
Weighted average fair value at measurement date, share options granted	$ 183
Option Expiration Period Three
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.00
Number of share options outstanding in share-based payment arrangement				737,500
Number of share options exercisable in share-based payment arrangement				737,500
Weighted average remaining contractual life of outstanding share options	1 year 4 months 13 days
Weighted average fair value at measurement date, share options granted	$ 429
Option Expiration Period Four
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.75
Number of share options outstanding in share-based payment arrangement				270,000
Number of share options exercisable in share-based payment arrangement				260,625
Weighted average remaining contractual life of outstanding share options	1 year 6 months
Weighted average fair value at measurement date, share options granted	$ 97
Option Expiration Period Five
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.75
Number of share options outstanding in share-based payment arrangement				3,000,000
Number of share options exercisable in share-based payment arrangement				3,000,000
Weighted average remaining contractual life of outstanding share options	1 year 6 months 10 days
Weighted average fair value at measurement date, share options granted	$ 1,607
Option Expiration Period Six
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.75
Number of share options outstanding in share-based payment arrangement				5,700,000
Number of share options exercisable in share-based payment arrangement				5,700,000
Weighted average remaining contractual life of outstanding share options	1 year 7 months 6 days
Weighted average fair value at measurement date, share options granted	$ 3,057
Option Expiration Period Seven
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.88
Number of share options outstanding in share-based payment arrangement				500,000
Number of share options exercisable in share-based payment arrangement				500,000
Weighted average remaining contractual life of outstanding share options	1 year 7 months 13 days
Weighted average fair value at measurement date, share options granted	$ 315
Option Expiration Period Eight
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.75
Number of share options outstanding in share-based payment arrangement				375,000
Number of share options exercisable in share-based payment arrangement				375,000
Weighted average remaining contractual life of outstanding share options	1 year 7 months 17 days
Weighted average fair value at measurement date, share options granted	$ 110
Option Expiration Period Nine
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.91
Number of share options outstanding in share-based payment arrangement				200,000
Number of share options exercisable in share-based payment arrangement				200,000
Weighted average remaining contractual life of outstanding share options	1 year 7 months 17 days
Weighted average fair value at measurement date, share options granted	$ 53
Option Expiration Period Ten
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.48
Number of share options outstanding in share-based payment arrangement				700,000
Number of share options exercisable in share-based payment arrangement				700,000
Weighted average remaining contractual life of outstanding share options	1 year 8 months 12 days
Weighted average fair value at measurement date, share options granted	$ 741
Option Expiration Period Eleven
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.74
Number of share options outstanding in share-based payment arrangement				1,589,100
Number of share options exercisable in share-based payment arrangement				1,589,100
Weighted average remaining contractual life of outstanding share options	1 year 8 months 15 days
Weighted average fair value at measurement date, share options granted	$ 1,971
Option Expiration Period Twelve
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.89
Number of share options outstanding in share-based payment arrangement				760,000
Number of share options exercisable in share-based payment arrangement				760,000
Weighted average remaining contractual life of outstanding share options	1 year 8 months 26 days
Weighted average fair value at measurement date, share options granted	$ 1,027
Option Expiration Period Thirteen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.89
Number of share options outstanding in share-based payment arrangement				225,000
Number of share options exercisable in share-based payment arrangement				225,000
Weighted average remaining contractual life of outstanding share options	1 year 9 months 3 days
Weighted average fair value at measurement date, share options granted	$ 304
Option Expiration Period Fourteen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		2.03
Number of share options outstanding in share-based payment arrangement				150,000
Number of share options exercisable in share-based payment arrangement				150,000
Weighted average remaining contractual life of outstanding share options	1 year 10 months 17 days
Weighted average fair value at measurement date, share options granted	$ 218
Option Expiration Period Fifteen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		2.03
Number of share options outstanding in share-based payment arrangement				150,000
Number of share options exercisable in share-based payment arrangement				150,000
Weighted average remaining contractual life of outstanding share options	1 year 10 months 17 days
Weighted average fair value at measurement date, share options granted	$ 218
Option Expiration Period Sixteen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.39
Number of share options outstanding in share-based payment arrangement				1,186,300
Number of share options exercisable in share-based payment arrangement				1,186,300
Weighted average remaining contractual life of outstanding share options	1 year 11 months 8 days
Weighted average fair value at measurement date, share options granted	$ 1,185
Option Expiration Period Seventeen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.55
Number of share options outstanding in share-based payment arrangement				300,000
Number of share options exercisable in share-based payment arrangement				300,000
Weighted average remaining contractual life of outstanding share options	1 year 11 months 12 days
Weighted average fair value at measurement date, share options granted	$ 360
Option Expiration Period Eighteen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.36
Number of share options outstanding in share-based payment arrangement				1,575,000
Number of share options exercisable in share-based payment arrangement				1,575,000
Weighted average remaining contractual life of outstanding share options	1 year 11 months 26 days
Weighted average fair value at measurement date, share options granted	$ 1,540
Option Expiration Period Nineteen
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.32
Number of share options outstanding in share-based payment arrangement				37,500
Number of share options exercisable in share-based payment arrangement				37,500
Weighted average remaining contractual life of outstanding share options	1 year 11 months 26 days
Weighted average fair value at measurement date, share options granted	$ 36
Option Expiration Period Twenty
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.35
Number of share options outstanding in share-based payment arrangement				250,000
Number of share options exercisable in share-based payment arrangement				250,000
Weighted average remaining contractual life of outstanding share options	2 years
Weighted average fair value at measurement date, share options granted	$ 243
Option Expiration Period Twenty One
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		2.90
Number of share options outstanding in share-based payment arrangement				3,160,000
Number of share options exercisable in share-based payment arrangement				3,160,000
Weighted average remaining contractual life of outstanding share options	2 years 2 months 26 days
Weighted average fair value at measurement date, share options granted	$ 6,589
Option Expiration Period Twenty Two
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		2.48
Number of share options outstanding in share-based payment arrangement				215,000
Number of share options exercisable in share-based payment arrangement				215,000
Weighted average remaining contractual life of outstanding share options	2 years 4 months 17 days
Weighted average fair value at measurement date, share options granted	$ 383
Option Expiration Period Twenty Three
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		2.48
Number of share options outstanding in share-based payment arrangement				300,000
Number of share options exercisable in share-based payment arrangement				300,000
Weighted average remaining contractual life of outstanding share options	2 years 4 months 17 days
Weighted average fair value at measurement date, share options granted	$ 519
Option Expiration Period Twenty Four
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.79
Number of share options outstanding in share-based payment arrangement				975,000				975,000
Number of share options exercisable in share-based payment arrangement				975,000
Weighted average remaining contractual life of outstanding share options	2 years 5 months 26 days
Weighted average fair value at measurement date, share options granted	$ 439
Option Expiration Period Twenty Five
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		2.87
Number of share options outstanding in share-based payment arrangement				195,000
Number of share options exercisable in share-based payment arrangement				195,000
Weighted average remaining contractual life of outstanding share options	2 years 5 months 26 days
Weighted average fair value at measurement date, share options granted	$ 403
Option Expiration Period Twenty Six
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		3.15
Number of share options outstanding in share-based payment arrangement				545,000
Number of share options exercisable in share-based payment arrangement				545,000
Weighted average remaining contractual life of outstanding share options	2 years 5 months 26 days
Weighted average fair value at measurement date, share options granted	$ 1,105
Option Expiration Period Twenty Seven
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.72
Number of share options outstanding in share-based payment arrangement				500,000		500,000
Number of share options exercisable in share-based payment arrangement				125,000
Weighted average remaining contractual life of outstanding share options	2 years 7 months 17 days
Weighted average fair value at measurement date, share options granted	$ 81
Option Expiration Period Twenty Eight
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.50
Number of share options outstanding in share-based payment arrangement				1,250,000
Number of share options exercisable in share-based payment arrangement				1,250,000
Weighted average remaining contractual life of outstanding share options	2 years 9 months
Weighted average fair value at measurement date, share options granted	$ 1,352
Option Expiration Period Twenty Nine
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		3.15
Number of share options outstanding in share-based payment arrangement				20,000
Number of share options exercisable in share-based payment arrangement				20,000
Weighted average remaining contractual life of outstanding share options	2 years 9 months
Weighted average fair value at measurement date, share options granted	$ 18
Option Expiration Period Thirty
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.13
Number of share options outstanding in share-based payment arrangement				1,075,600
Number of share options exercisable in share-based payment arrangement				1,075,600
Weighted average remaining contractual life of outstanding share options	2 years 11 months 1 day
Weighted average fair value at measurement date, share options granted	$ 878
Option Expiration Period Thirty One
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		3.15
Number of share options outstanding in share-based payment arrangement				40,000
Number of share options exercisable in share-based payment arrangement				40,000
Weighted average remaining contractual life of outstanding share options	2 years 11 months 1 day
Weighted average fair value at measurement date, share options granted	$ 25
Option Expiration Period Thirty Two
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.02
Number of share options outstanding in share-based payment arrangement				400,000
Number of share options exercisable in share-based payment arrangement				400,000
Weighted average remaining contractual life of outstanding share options	2 years 11 months 4 days
Weighted average fair value at measurement date, share options granted	$ 295
Option Expiration Period Thirty Three
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.00
Number of share options outstanding in share-based payment arrangement				65,000
Number of share options exercisable in share-based payment arrangement				65,000
Weighted average remaining contractual life of outstanding share options	3 years 3 months
Weighted average fair value at measurement date, share options granted	$ 32
Option Expiration Period Thirty Four
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.00
Number of share options outstanding in share-based payment arrangement				20,000
Number of share options exercisable in share-based payment arrangement				20,000
Weighted average remaining contractual life of outstanding share options	3 years 4 months 13 days
Weighted average fair value at measurement date, share options granted	$ 14
Option Expiration Period Thirty Five
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		1.00
Number of share options outstanding in share-based payment arrangement				220,000
Number of share options exercisable in share-based payment arrangement				190,625
Weighted average remaining contractual life of outstanding share options	3 years 6 months
Weighted average fair value at measurement date, share options granted	$ 95
Option Expiration Period Thirty Six
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.44
Number of share options outstanding in share-based payment arrangement				11,310,000
Number of share options exercisable in share-based payment arrangement				6,805,000
Weighted average remaining contractual life of outstanding share options	4 years 3 months
Weighted average fair value at measurement date, share options granted	$ 3,297
Option Expiration Period Thirty Seven
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.79
Number of share options outstanding in share-based payment arrangement				235,000				235,000
Number of share options exercisable in share-based payment arrangement				105,000
Weighted average remaining contractual life of outstanding share options	4 years 5 months 26 days
Weighted average fair value at measurement date, share options granted	$ 98
Option Expiration Period Thirty Eight
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		0.72
Number of share options outstanding in share-based payment arrangement				25,100,000		25,100,000
Number of share options exercisable in share-based payment arrangement				20,412,500
Weighted average remaining contractual life of outstanding share options	4 years 7 months 17 days
Weighted average fair value at measurement date, share options granted	$ 9,438
Option Expiration Period Forty
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price (in dollars per share) \| $ / shares		$ 0.56
Number of share options outstanding in share-based payment arrangement				20,000
Number of share options exercisable in share-based payment arrangement				5,000
Weighted average remaining contractual life of outstanding share options	4 years 11 months 19 days
Weighted average fair value at measurement date, share options granted	$ 2

SHARE CAPITAL

12 Months Ended

Mar. 31, 2024

Share Capital, Reserves, and Other Equity Interest [Abstract]

SHARE CAPITAL

a)Authorized share capital

The authorized share capital of Cybin consists of an unlimited number of Common Shares and an unlimited number of preferred shares without par value. The board of directors of Cybin would determine the designation, rights, privileges, and conditions attached to any preferred shares prior to issuance.

b)Issued share capital

Common Shares

As at March 31, 2024, the Company has 15,807,443 Common Shares held in escrow (2023: nil).

During the year ended March 31, 2024, the Company completed the following share issuances:

On August 23, 2023, the Company established a new at-the-market equity program (the “2023 ATM Program” and together with the 2022 ATM Program (see below), the “ATM Programs”) that allows the Company to issue and sell up to US$35,000 of Common Shares from treasury to the public, from time to time. Distributions of Common Shares under the 2023 ATM Program are made pursuant to the terms and conditions of an at-the-market equity distribution agreement (the “2023 Distribution Agreement”) dated August 23, 2023, among the Company, Cantor Fitzgerald Canada Corporation and Cantor Fitzgerald & Co. The 2023 ATM Program is to be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the 2023 ATM Program and September 17, 2025, unless earlier terminated in accordance with the terms of the 2023 Distribution Agreement.

During the year ended March 31, 2024, the Company sold 34,140,507 Common Shares under the ATM Programs at an average price of $0.4549 (US$0.3374) per Common Share, for aggregate gross proceeds of $15,532 (US$11,518). Share issuance costs related to the ATM Programs for the year were $832.

On May 30, 2023, the Company entered into an agreement (the “LPC Agreement”) with Lincoln Park Capital Fund, LLC (“LPC”). Subject to the terms and conditions of the LPC Agreement, the Company has the right to sell, and LPC is obligated to purchase, up to US$30,000 of Common Shares over a 36-month period at prices that are based on the market price at the time of each sale to LPC. Cybin, in its sole discretion, controls the timing and amount of all sales of Common Shares under the LPC Agreement. During the year ended March 31, 2024, the Company sold 1,925,000 Common Shares, at an average price of $0.3236 (US$0.2417) per Common Shares, for aggregate gross proceeds of $623 (US$465) pursuant to the LPC Agreement. Share issuance costs related to the LPC Agreement for the year ended March 31, 2024 were $476 (US$351).

Cybin has the right to terminate the LPC Agreement at any time at no cost or penalty. LPC has agreed not to engage in any short selling or hedging activity of any kind in the Common Shares. As consideration for LPC’s obligation to purchase Common Shares from the Company at its direction under the LPC Agreement, Cybin issued 2,538,844 Common Shares to LPC as a commitment fee on May 30, 2023. The LPC Agreement provides that Cybin may not issue or sell any Common Shares to LPC under the LPC Agreement which, when aggregated with all other Common Shares then beneficially owned by LPC and its affiliates (as calculated pursuant to Section 13(d) of the U.S. Securities Exchange Act of 1934, as amended, and Rule 13d-3 thereunder), would result in LPC beneficially owning more than 9.99% of the outstanding Common Shares. On July 31, 2023, Cybin announced that it had suspended all sales under the LPC Agreement. On August 23, 2023, the Company filed a prospectus supplement to the base shelf prospectus dated August 17, 2023 to re-qualify sales of up to US$30,000 of the Company’s Common Shares pursuant to the LPC Agreement.

On August 4, 2023, the Company completed a public offering (the “August 2023 Offering”) of 24,264,706 units of the Company (the “August 2023 Units”) at a price of US$0.34 per August 2023 Unit for gross proceeds of $11,018(US$8,250) pursuant to a supplement to the Company’s short form base shelf prospectus dated July 5, 2021. Each August 2023 Unit is comprised of one Common Share and one Common Share purchase warrant (the “August 2023 Warrants”). Each August 2023 Warrant is exercisable to acquire one Common Share at a price of $0.53(US$0.40) for a period of 60 months from issuance, subject to acceleration in certain circumstances. In connection with the Offering, Cybin paid the underwriters a cash commission of $506(US$379) and incurred additional share issuance costs, being professional fees of $622(US$465).

On November 14, 2023, the Company completed a public offering (the “November 2023 Offering”) of 66,666,667 units of the Company (the “November 2023 Units”) at a price of US$0.45 per November 2023 Unit for gross proceeds of $41,107(US$30,000) pursuant to a supplement to the Company’s short form base shelf prospectus dated August 17, 2023. Each November 2023 Unit is comprised of one Common Share and one Common Share purchase warrant (the “November 2023 Warrants”). Each November 2023 Warrant is exercisable to acquire one Common Share at a price of$0.70 (US$0.51) between May 14, 2024 and May 14, 2029, subject to acceleration in certain circumstances. In connection with the November 2023 Offering, Cybin paid the underwriters a cash commission of $2,096(US$1,530) and incurred additional share issuance costs being professional fees of $339(US$247).

On March 19, 2024, the Company completed a private placement (the “March 2024 Offering”) of 348,837,210 Common Shares at a price of US$0.43 per Common Share for gross proceeds of $202,995(US$150,000). 15,807,443 Common Shares issued in the March 2024 Offering are subject to resale restrictions until the July 20, 2024. In connection with the March 2024 Offering, Cybin paid the agent cash commission of $11,726(US$8,665) and incurred additional share issuance costs being professional fees of $78(US$58).

During the year ended March 31, 2023, the Company completed the following share issuances:

On August 8, 2022, the Company established an at-the-market equity program (the “2022 ATM Program”) that allowed the Company to issue and sell up to US$35,000 of Common Shares from treasury to the public, from time to time. Distributions of Common Shares under the 2022 ATM Program are made pursuant to the terms and conditions of an at-the-market equity distribution agreement dated August 8, 2022 among the Company, Cantor Fitzgerald Canada Corporation and Cantor Fitzgerald & Co. The 2022 ATM Program was effective until August 5, 2023. when it automatically terminated in accordance with the terms of the Distribution Agreement.

Up to March 31, 2023 the Company had sold 20,754,120 Common Shares under the 2022 ATM program at an average price of $0.6819 (US$0.5079) per Common Share, for aggregate gross proceeds of $14,152 (US$10,541). Share issuance costs for the year ended March 31, 2023 were $950.

Preferred Shares

As at March 31, 2024, the Company has nil preferred shares outstanding (March 31, 2023- nil).

Cybin US Class B Shares


			Number of Class B Shares
Balance as at March 31, 2022			1,047,135.1
Issued on achievement of milestones			360,374.2
Converted into Common Shares			(876,967.2)
Balance as at March 31, 2023			530,542.1
Converted to Common Shares			(494,457.4)
Balance as at March 31, 2024			36,084.7

As at March 31, 2024, 36,084.7 Class B Shares were outstanding, and are exchangeable for a total of 360,847 Common Shares. These consolidated financial statements reflect issued Class B Shares on an as-converted basis.

During the year ended March 31, 2024 no additional Class B shares were issued. As of March 31, 2023 all Milestones were achieved and all eligible Class B shares were issued.

During the year ended March 31, 2023, the Company issued Class B Shares as follows:

On April 1, 2022, 22,428.3 Class B Shares were issued to Former Adelia Shareholders due to the achievement of the Milestone identified as Year 2 Q2 (iv), having an aggregate value of $229 at a price per Class B Share of $10.20. These Class B Shares are exchangeable for a total of 224,283 Common Shares, representing an effective issue price of $1.02 per Common Share. In consideration for the Milestone achieved, on June 22, 2022, an additional 456.5 Class B Shares having an aggregate value of $5 were issued to Former Adelia Shareholders.

On June 24, 2022, 266,933.1 Class B Shares were issued to Former Adelia Shareholders due to the achievement of certain Milestones identified as Y2, Q2 (i), (vi), Y2, Q3 (ii), Year 2 Q4 (i) and Year 3 Q1 (i), (ii), (iii), having an aggregate value of $2,034 at a price per Class B Share of $7.62. These Class B Shares are exchangeable for a total of 2,669,331 Common Shares, representing an effective issue price of $0.76 per Common Share.

On June 27, 2022, 37,366.2 Class B Shares were issued to Former Adelia Shareholders due to the achievement of the Milestone identified as Y2, Q3 (i), having an aggregate value of $280 at a price per Class B Share of $7.50. These Class B Shares are exchangeable for a total of 373,662 Common Shares, representing an effective issue price of $0.75 per Common Share.

On August 31, 2022, 33,190.1 Class B Shares were issued to Former Adelia Shareholders due to the achievement of the Milestone identified as Y2, Q4 (ii), having an aggregate value of $468 at a price per Class B Share of $14.10. These Class B Shares are exchangeable for a total of 331,901 Common Shares, representing an effective issue price of $1.41 per Common Share.

With the fulfillment of all of the remaining milestones during the year ended March 31, 2023, it is not anticipated that any additional Class B Shares will be issued.

c)Warrants

The continuity of the outstanding warrants for the years ended March 31, 2024 and March 31, 2023, are as follows:


	Number of Warrants	Weighted average exercise price
		$
Common Share Purchase Warrants
As at March 31, 2022	25,548,836	1.22
Exercised	(1,164,638)	0.31
Expired	(1,153,713)	0.75
As at March 31, 2023	23,230,485	1.29
Issued	90,931,373	0.67
Exercised	(101,000)	0.53
Expired	(7,805,360)	3.47
Outstanding as at March 31, 2024	106,255,498	0.60
Exercisable as at March 31, 2024	39,588,831	0.44

Unit Purchase Warrants(1)
As at March 31, 2022	868,740	2.25
Exercised	—	—
As at March 31, 2023	868,740	2.25
Expired	(868,740)	2.25
Outstanding as at March 31, 2024	—	—
Exercisable as at March 31, 2024	—	—

During the year ended March 31, 2024, the Company had the following movement in warrants:

During the year ended March 31, 2024, 101,000 Common Share purchase warrants (March 31, 2023 - 1,164,638) were exercised by various holders for aggregate proceeds to the Company of $56 (March 31, 2023 - $362).

During the year ended March 31, 2024, 7,805,360 warrants with a weighted average exercise price of $3.47 expired.

During the year ended March 31, 2024, the Company completed the following warrant issuances:

On August 4, 2023, Cybin issued 24,264,706 “August 2023 Warrants” in connection with the August 2023 Offering. Each August 2023 Warrant is exercisable to acquire one Common Share at a price of US$0.40 per Common Share until August 4, 2028, subject to acceleration in certain circumstances.

The Company estimated the aggregate fair value of the August 2023 Warrants using the Black-Scholes option pricing model to be $4,600(US$3,442) with the following assumptions:

Risk-free interest rate 3.87%

Expected annual volatility rate based on comparable companies 95.0%

Expected life (in years) 5

Expected divided yield 0.00%

Share price US$0.34

Exercise price US$0.40

On November 14, 2023, Cybin issued 66,666,667 “November 2023 Warrants” in connection with the November 2023 Offering. Each November 2023 Warrant is exercisable from May 14, 2024 to May 14, 2029 to acquire one Common Share at a price of US$0.51, subject to acceleration in certain circumstances.

The Company estimated the aggregate fair value of the November 2023 Warrants using the Black-Scholes option pricing model to be $17,842(US$12,299) with the following assumptions:

Risk-free interest rate 3.76%

Expected annual volatility rate based on comparable companies 95.0%

Expected life (in years) 5.5

Expected divided yield 0.00%

Share price US$0.46

Exercise price US$0.51

The following summarizes information about Common Shares purchase warrants outstanding at March 31, 2024:


Date of Expiry	Warrants outstanding	Warrants exercisable	Weighted average of exercisable price	Estimated grant date fair value	Weighted average remaining contractual life
			$	$000’s	Years
June 15, 2025	12,800,000	12,800,000	0.25	2,319	2.21
August 20, 2025	1,475,125	1,475,125	0.64	680	2.39
November 15, 2025	1,150,000	1,150,000	0.25	220	2.63
August 4, 2028(1)	24,163,706	24,163,706	US$0.40	4,578	4.34
May 14, 2029(2)	66,666,667	—	US$0.51	17,842	5.12
	106,255,498	39,588,831	0.44	25,639	4.38

1) On August 4, 2023, the August 2023 Warrants were issued at US$0.40 which was equivalent to $0.53.

(2) On November 14, 2023, the November 2023 Warrants were issued at US$0.51 which was equivalent to $0.70.

As at March 31, 2024, the Company has no Common Share purchase warrants held in escrow (2023 - nil).

The Company recognized share-based payments compensation related to the issuance of Common Share purchase warrants for the year ended March 31, 2024 of $0 (2023 - $6).

d)Stock options

On November 5, 2020, Cybin adopted an equity incentive plan. Under the plan, the board of directors may grant share-based awards to acquire such number of Common Shares as is equal to up to 20% of the total number of issued and outstanding Common Shares at the time such awards are granted. Options granted under the plan vest over a period of time at the discretion of the board of directors. On August 16, 2021, the board of directors and the shareholders approved an amendment to the equity incentive plan to modify certain provisions for awards granted to residents of the United States, to increase the fixed number of Incentive Stock Options (as defined in the plan) and certain other housekeeping amendments.

The changes in options for the years ended March 31, 2024 and 2023 are as follows:


	Number of Options	Weighted average exercise price
		$
As at March 31, 2022	28,885,002	1.45
Granted	2,475,000	0.91
Forfeited/Expired	(1,790,202)	2.20
As at March 31, 2023	29,569,800	1.36
Granted	38,445,000	0.69
Forfeited/Expired	(1,813,800)	1.16
Outstanding as at March 31, 2024	66,201,000	0.93
Exercisable as at March 31, 2024	56,449,750	0.98

During the year ended March 31, 2024, the Company completed the following option issuances:

On June 29, 2023, the Company granted options to purchase up to 11,615,000 Common Shares, of which 3,991,000 were granted to employees, 3,763,000 were granted to officers of the Company, 3,076,000 were granted to consultants, and 785,000 were granted to directors of the Company. The granted options have an exercise price of $0.44 per Common Share and expire on June 30, 2028. The granted options have different vesting schedules; 1,500,000 options vested immediately, 700,000 options vest over three months, 100,000 options vest over one year, and 9,315,000 options vest over two years. The aggregate estimated grant date fair value was determined to be $4,080, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.47
Exercise price	$	0.44

On September 26, 2023, the Company granted options to purchase up to 1,210,000 Common Shares, of which 135,000 were granted to an employee and, 1,075,000 were granted to consultants. The granted options have an exercise price of $0.79 per Common Share, and 975,000 options expire on September 26, 2026 and the remaining 235,000 options expire on September 26, 2028. The granted options have different vesting schedules. 375,000 options vest over three months, 200,000 options vest over six months, 400,000 options vest over one year, 100,000 options vest over fifteen months, and 135,000 options vest over 18 months.

The aggregate estimated grant date fair value was determined to be $577, calculated using the Black-Scholes option pricing model with the following assumptions:

Options expiring on September 26, 2026.


Risk-free interest rate	4.68%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3.00
Expected dividend yield	0.00%
Share price	$	0.79
Exercise price	$	0.79

Options expiring on September 26, 2028.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.79
Exercise price	$	0.79

On November 16, 2023, the Company granted options to purchase up to 25,600,000 Common Shares, of which 22,200,000 were granted to officers, 1,600,000 were granted to directors, 1,300,000 were granted to employees and 500,000 were granted to a consultant. The granted options have an exercise price of $0.715 per Common Share, 500,000 options expire on November 16, 2026 and the remaining 25,100,000 options expire on November 16, 2028. The granted options have different vesting schedules. 18,850,000 options vest immediately and 6,750,000 options vest over two years.

The aggregate estimated grant date fair value was determined to be $10,907, calculated using the Black-Scholes option pricing model with the following assumptions:

Options expiring on November 16, 2026.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3.00
Expected dividend yield	0.00%
Share price	$	0.60
Exercise price	$	0.72

Options expiring on November 16, 2028.


Risk-free interest rate	4.28%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.60
Exercise price	$	0.72

On March 20, 2024, the Company granted options to purchase up to 20,000 Common Shares to an employee with an exercise price of $0.56 per Common Share which expire on March 20, 2029 and vest over two years.

The aggregate estimated grant date fair value was determined to be $8, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.52%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.56
Exercise price	$	0.56

During the year ended March 31, 2024, the Company amended the expiry dates of certain options with former employees and consultants of the Company.

During the year ended March 31, 2023, the Company completed the following option issuances:

On June 30, 2022, the Company granted options to purchase up to: 65,000 Common Shares to employees, with an exercise price of $1.00 per Common Share and vesting over two years. The options expire on June 30,

2027. The aggregate estimated grant date fair value was determined to be $32, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.10%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5.00
Expected dividend yield	0.00%
Share price	$	0.72
Exercise price	$	1.00

On June 30, 2022, the Company granted options to purchase up to 500,000 Common Shares to consultants, with an exercise price of $0.90 per Common Share. The options vested immediately and expire on June 30, 2025. The estimated grant date fair value was determined to be $183, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.14%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.72
Exercise price	$	0.90

On August 15, 2022, the Company granted options to purchase up to 800,000 Common Shares to consultants, with an exercise price of $1.00 per Common Share and vesting over two years. The options expire on August 15, 2025. The estimated grant date fair value was determined to be $429, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.11%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.97
Exercise price	$	1.00

On August 15, 2022, the Company granted options to purchase up to 20,000 Common Shares to an employee, with an exercise price of $1.00 per Common Share and vesting over two years. The options expire on August 15, 2027. The estimated grant date fair value was determined to be $14, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	2.88%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5
Expected dividend yield	0.00%
Share price	$	0.97
Exercise price	$	1.00

On September 30, 2022, the Company granted options to purchase up to 270,000 Common Shares to consultants, with an exercise price of $0.75 per Common Share and vesting over two years. The options expire on September 30, 2025. The estimated grant date fair value was determined to be $102, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.72%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.67
Exercise price	$	0.75

On September 30, 2022, the Company granted options to purchase up to 245,000 Common Shares to employees, with an exercise price of $1.00 per Common Share and vesting over two years. The options expire on September 30, 2027. The estimated grant date fair value was determined to be $98, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.32%
Expected annual volatility, based on comparable companies	95.00%
Expected life (in years)	5
Expected dividend yield	0.00%
Share price	$	0.67
Exercise price	$	1.00

On November 16, 2022, the Company granted options to purchase up to 200,000 Common Shares to a consultant with an exercise price of $0.91 per Common Share. The options vested immediately and expire on November 15, 2025. The estimated grant date fair value was determined to be $53, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.58
Exercise price	$	0.91

On November 16, 2022, the Company granted options to purchase up to 375,000 Common Shares to consultants with an exercise price of $0.75 per Common Share. The options vested immediately and expire on November 15, 2025. The estimated grant date fair value was determined to be $110, calculated using the Black-Scholes option pricing model with the following assumptions:


Risk-free interest rate	3.78%
Expected annual volatility, based on comparable companies	85.00%
Expected life (in years)	3
Expected dividend yield	0.00%
Share price	$	0.58
Exercise price	$	0.75

The following summarizes information about stock options outstanding on March 31, 2024:


	Exercise Price	Number of options outstanding	Number of options exercisable	Weighted average remaining life	Recognized estimated grant date fair value
Expiry date	$			Years	$000’s
June 15, 2025	0.25	2,350,000	2,350,000	1.21	420
June 30, 2025	0.90	500,000	500,000	1.25	183
August 14, 2025	1.00	737,500	737,500	1.37	429
September 30, 2025	0.75	270,000	260,625	1.50	97
October 12, 2025	0.75	3,000,000	3,000,000	1.53	1,607
November 4, 2025	0.75	5,700,000	5,700,000	1.60	3,057
November 13, 2025	0.88	500,000	500,000	1.62	315
November 15, 2025	0.75	375,000	375,000	1.63	110
November 15, 2025	0.91	200,000	200,000	1.63	53
December 11, 2025	1.48	700,000	700,000	1.70	741
December 14, 2025	1.74	1,589,100	1,589,100	1.71	1,971
December 28, 2025	1.89	760,000	760,000	1.74	1,027
January 2, 2026	1.89	225,000	225,000	1.76	304
February 15, 2026	2.03	150,000	150,000	1.88	218
February 16, 2026	2.03	150,000	150,000	1.88	218
March 10, 2026	1.39	1,186,300	1,186,300	1.94	1,185
March 15, 2026	1.55	300,000	300,000	1.95	360
March 28, 2026	1.36	1,575,000	1,575,000	1.99	1,540
March 29, 2026	1.32	37,500	37,500	1.99	36
March 31, 2026	1.35	250,000	250,000	2.00	243
June 28, 2026	2.90	3,160,000	3,160,000	2.24	6,589
August 16, 2026	2.48	215,000	215,000	2.38	383
August 18, 2026	2.48	300,000	300,000	2.38	519
September 26, 2026	0.79	975,000	975,000	2.49	439


	Exercise Price	Number of options outstanding	Number of options exercisable	Weighted average remaining life	Recognized estimated grant date fair value
September 27, 2026	2.87	195,000	195,000	2.49	403
September 27, 2026	3.15	545,000	545,000	2.49	1,105
November 16, 2026	0.72	500,000	125,000	2.63	81
December 31, 2026	1.50	1,250,000	1,250,000	2.75	1,352
December 31, 2026	3.15	20,000	20,000	2.75	18
March 4, 2027	1.13	1,075,600	1,075,600	2.92	878
March 4, 2027	3.15	40,000	40,000	2.92	25
March 8, 2027	1.02	400,000	400,000	2.93	295
June 30, 2027	1.00	65,000	65,000	3.25	32
August 14, 2027	1.00	20,000	20,000	3.37	14
September 30, 2027	1.00	220,000	190,625	3.50	95
June 30, 2028	0.44	11,310,000	6,805,000	4.25	3,297
September 26, 2028	0.79	235,000	105,000	4.49	98
November 16, 2028	0.72	25,100,000	20,412,500	4.63	9,438
March 20, 2029	0.56	20,000	5,000	4.97	2
		66,201,000	56,449,750	2.40	39,177

As at March 31, 2024, the Company has no options held in escrow (2023 - nil).

The Company recognized share-based payments expense related to the issuance of stock options for the year ended March 31, 2024 of $13,886 (2023 - $4,680).

The outstanding options and warrants disclosed above were anti-dilutive for the year ended March 31, 2024 and did not impact the calculation of the loss per share.

SHARE CAPITAL - Summary of significant unobservable inputs used, equity (Details) $ / shares in Units, $ / shares in Units, $ in Thousands, $ in Thousands							12 Months Ended
	Mar. 20, 2024 $ / shares	Nov. 14, 2023 CAD ($) $ / shares shares	Nov. 14, 2023 USD ($) $ / shares shares	Aug. 04, 2023 CAD ($) $ / shares shares	Aug. 04, 2023 USD ($) $ / shares shares	Jun. 29, 2023 $ / shares	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 CAD ($)
Disclosure of classes of share capital [line items]
Exercise price, share options granted (in CAD per share)	$ 0.56					$ 0.44
Warrant exercise \| $							$ 56	$ 362
August 2023 compensation common share warrant
Disclosure of classes of share capital [line items]
Risk-free interest rate				3.87%	3.87%
Expected annual volatility, based on comparable companies				95.00%	95.00%
Expected life (in years)				5 years	5 years
Expected dividend yield				0.00%	0.00%
Share price (in CAD per share)					$ 0.34
Exercise price (in CAD per share) \| (per share)				$ 0.53	$ 0.40
Issued (in shares) \| shares				24,264,706	24,264,706
Exercise price, share options granted (in CAD per share)				$ 0.40
Warrant exercise				$ 4,600	$ 3,442
November 2023 compensation common share warrant
Disclosure of classes of share capital [line items]
Risk-free interest rate		3.76%	3.76%
Expected annual volatility, based on comparable companies		95.00%	95.00%
Expected life (in years)		5 years 6 months	5 years 6 months
Expected dividend yield		0.00%	0.00%
Share price (in CAD per share)			$ 0.46
Exercise price (in CAD per share) \| (per share)		$ 0.70	$ 0.51
Issued (in shares) \| shares		66,666,667	66,666,667
Exercise price, share options granted (in CAD per share)		$ 0.51
Warrant exercise		$ 17,842	$ 12,299

CORPORATE INFORMATION	12 Months Ended
CORPORATE INFORMATION	Mar. 31, 2024
Corporate information and statement of IFRS compliance [abstract]
CORPORATE INFORMATION	CORPORATE INFORMATION Cybin Inc. (“Cybin”), was incorporated under the Business Corporations Act (British Columbia) on October 13, 2016. These consolidated financial statements include the accounts of Cybin’s eight subsidiaries (together with Cybin, the “Company”): Cybin Corp., Natures Journey Inc. (“Journey”), Serenity Life Sciences Inc. (“Serenity”), Cybin US Holdings Inc. (“Cybin US”), Adelia Therapeutics Inc. (“Adelia”) Cybin IRL Limited (“Cybin IRL”), Cybin UK Ltd., and Small Pharma Inc. (“Small Pharma”). Cybin’s head office, principal address and registered address and records office is 100 King Street West, Suite 5600, Toronto, Ontario M5X 1C9. The Company is a biopharmaceutical company focused on advancing psychedelic-based therapies, delivery mechanisms, novel compounds and protocols as potential treatments for various psychiatric and neurological conditions. The Company is developing technologies and delivery systems aimed at improving the pharmacokinetics of its psychedelic-based molecules while retaining the therapeutic benefit. These new molecules and delivery systems are expected to be studied through clinical trials to confirm safety and efficacy. These consolidated financial statements as at, and for the year ended, March 31, 2024 were approved and authorized for issue by the board of directors on June 25, 2024. Stock exchange listings Cybin’s common shares (“Common Shares”) are listed for trading on the Cboe Canada Exchange Inc. (“Cboe’) and NYSE American LLC under the symbol “CYBN” and on the Frankfurt Stock Exchange under the symbol “R7E1”. Basis of consolidation The Company consolidates entities which it controls. Control exists when the Company has the power, directly and indirectly to govern the financial and operating policies of an entity and be exposed to the variable returns from its activities. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Intercompany balances, and any unrealized gains and losses or income and expenses arising from transactions with controlled entities are eliminated to the extent of the Company’s interest in the entity.

LEASES - Lease liabilities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Presentation of leases for lessee [abstract]
Lease liabilities, beginning of period	$ 0
Additions	415
Interest accretion	8
Effect of foreign exchange	17
Payments	(149)	$ 0
Lease liabilities, end of period	291	0
Current lease liabilities	$ 291	$ 0

INCOME TAX - Deferred Tax Assets (Details) - CAD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 50,606	$ 23,201
Valuation allowance	(50,606)	(23,201)
Net deferred tax assets	0	0
Non-capital loss carryforwards
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	43,083	19,371
Deferred compensation
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	1,474	1,474
R&D expenditures
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	1,681	1,053
Share issuance costs
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	4,361	1,303
Depreciation/CCA differences
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	7	(6)
Other
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 0	$ 6

LEASES (Tables)

12 Months Ended

Mar. 31, 2024

Presentation of leases for lessee [abstract]

Disclosure of quantitative information about right-of-use assets [text block]


RIGHT-OF-USE -ASSET
Cost
Balance as at March 31, 2023	$	—
Additions	$	412
Effect of foreign exchange	$	12
Balance as at March 31, 2024	$	424

Accumulated amortization
Balance as at March 31, 2023	$	—
Amortization	$	140
Effect of foreign exchange	$	3
Balance as at March 31, 2024	$	143

Net book value, March 31, 2024	$	281

Disclosure of maturity analysis of operating lease payments [text block]


LEASE LIABILITY
Balance as at March 31, 2023	$	—
Additions	415
Interest accretion	8
Effect of foreign exchange	17
Payments	(149)
Balance as at March 31, 2024	291

Current lease liabilities	$	291

INTANGIBLE ASSETS (Details) $ in Thousands, $ in Thousands		12 Months Ended
INTANGIBLE ASSETS (Details) $ in Thousands, $ in Thousands	Jul. 11, 2022 CAD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 CAD ($) patent	Mar. 31, 2023 USD ($) patent
Intangible Assets [Abstract]
Disclosure of intangible assets material to entity [text block]		IP Research & Development See note 4 for information on the Small Pharma Acquisition. On July 11, 2022, the Company completed the acquisition of a Phase 1 N,N-dimethyltryptamine (“DMT”) study (the “DMT Acquisition”) from Entheon Biomedical Corp. to accelerate the clinical development path for CYB004, Cybin’s proprietary deuterated DMT molecule for the potential treatment of anxiety disorders. The Company paid $1,000 for the DMT Acquisition, and assumed liabilities of $342. Licenses During the year ended March 31, 2023, the Company entered into multiple licensing agreements that provide Cybin with additional access to IP from over 15 more patents or patent applications, including the acquisition of an exclusive license to a targeted class of tryptamine-based molecules from Mindset Pharma Inc. (“Mindset”), for which it paid a one-time license fee of $680 (US$500). The licensing agreements collectively provide the Company with access to a broad range of preclinical molecule combinations for its library of psychedelic derivative drug development candidates. In addition to the exclusive license with Mindset, the Company spent an additional $650 on a licensing agreement. Patents Costs associated with patent procurement
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		$ 5,470
Balance		$ 35,465	$ 5,470
Number of patents \| patent			15	15
Intangible assets other than goodwill
Reconciliation of changes in intangible assets other than goodwill [abstract]
Useful life of intangible assets		15 years
Intangible assets other than goodwill \| Discount rate
Reconciliation of changes in intangible assets other than goodwill [abstract]
Significant unobservable input, assets		0.157
IP Research & Development
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		$ 3,076
Balance		32,440	$ 3,076
Intangible Assets Under Development - Upfront
Reconciliation of changes in intangible assets other than goodwill [abstract]
Additions	$ 1,000
Intangible Assets Under Development - Assumed Liabilities
Reconciliation of changes in intangible assets other than goodwill [abstract]
Additions	$ 342
Patents
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		978
Balance		$ 1,668	978
Useful life of intangible assets		17 years
Licenses
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		$ 1,360
Balance		1,325	1,360
Licences - 1
Reconciliation of changes in intangible assets other than goodwill [abstract]
Additions			680	$ 500
Licenses - 2
Reconciliation of changes in intangible assets other than goodwill [abstract]
Additions			650
Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		56
Balance		$ 32	56
Useful life of intangible assets		3 years
Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		$ 5,507	2,083
Acquisition of Small Pharma		29,339
Additions		689	3,167
Effect of foreign exchange		28	257
Balance		35,563	5,507
Cost \| IP Research & Development
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		3,076	1,566
Acquisition of Small Pharma		29,339
Additions		0	1,342
Effect of foreign exchange		25	168
Balance		32,440	3,076
Cost \| Patents
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		978	443
Acquisition of Small Pharma		0
Additions		689	495
Effect of foreign exchange		1	40
Balance		1,668	978
Cost \| Licenses
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		1,379	0
Acquisition of Small Pharma		0
Additions		0	1,330
Effect of foreign exchange		2	49
Balance		1,381	1,379
Cost \| Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		74	74
Acquisition of Small Pharma		0
Additions		0	0
Effect of foreign exchange		0	0
Balance		74	74
Accumulated Depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		(37)
Amortisation expense		61	37
Balance		(98)	(37)
Accumulated Depreciation \| IP Research & Development
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		0
Amortisation expense		0	0
Balance		0	0
Accumulated Depreciation \| Patents
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		0
Amortisation expense		0	0
Balance		0	0
Accumulated Depreciation \| Licenses
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		(19)
Amortisation expense		37	19
Balance		(56)	(19)
Accumulated Depreciation \| Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance		(18)
Amortisation expense		24	18
Balance		$ (42)	$ (18)

FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2024

Financial Instruments [Abstract]

Schedule of Financial Assets

The Company has classified its financial instruments as follows:


As at	March 31, 2024	March 31, 2023
	$	$
Financial assets, measured at fair value:
Cash	208,992	16,633
Financial assets, measured at amortized cost:
Accounts receivable	254	42
Financial liabilities, measured at amortized cost:
Accounts payable and accrued liabilities	9,805	5,663
Lease liabilities	291	—

Schedule of Financial Liabilities

The Company has classified its financial instruments as follows:


As at	March 31, 2024	March 31, 2023
	$	$
Financial assets, measured at fair value:
Cash	208,992	16,633
Financial assets, measured at amortized cost:
Accounts receivable	254	42
Financial liabilities, measured at amortized cost:
Accounts payable and accrued liabilities	9,805	5,663
Lease liabilities	291	—

Schedule of Changes in Fair Value of Financial Assets

The following table presents the changes in level 3 financial assets for the for two years ended March 31, 2024 :


			$
Balance as at March 31, 2022			242
Interest income			18
Change in fair value of investments measured at fair value through profit or loss			(260)
Balance as at March 31, 2023			—
Interest income			—
Change in fair value of investments measured at fair value through profit or loss			—
Balance as at March 31, 2024			—

Schedule of Quantitative Information of Significant Unobservable inputs in Fair Value Measurements

The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements:

Description

Fair Value as at

Unobservable inputs

Range of inputs

Relationship of unobservable inputs to fair value

March 31, 2024

March 31, 2023

Rx Hybrid Instrument

—

Fair value interest rate of loan and conversion feature

10%

Increase/decrease in the fair value rate by 1% would not have a material effect on the fair value of the investment

Disclosure of Monetary Assets and Liabilities Currency Risk Fluctuations

At March 31, 2024, the Company had the following balances in monetary assets and monetary liabilities which are subject to fluctuation against CAD:


Denominated in:	US$000’s		GBP 000’s		EUR 000’s
Cash	148,713		509		425
Accounts payable and accrued liabilities	(343)		(299)		(201)
Lease liability	—		(217)		—
	148,370		(7)		225
Foreign currency rate	1.3550		1.7114		1.4632
Equivalent in Canadian dollars	$	201,041	$	(12)	$	329
Impact of 10% change in foreign currency rate	$	20,104	$	(1)	$	33

FINANCIAL INSTRUMENTS - Schedule of Monetary Assets and Liabilities Currency Risk Fluctuations (Details) € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands	Mar. 31, 2024 CAD ($) shares	Mar. 31, 2024 USD ($) shares	Mar. 31, 2024 GBP (£) shares	Mar. 31, 2024 EUR (€) shares
United States of America, Dollars
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities	$ 201,041	$ 148,370
Foreign currency rate \| shares	1.3550	1.3550	1.3550	1.3550
Impact of 10% change in foreign currency rate	$ 20,104
United States of America, Dollars \| Cash
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities		$ 148,713
United States of America, Dollars \| Accounts payable and accrued liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities		(343)
United States of America, Dollars \| Lease liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities		$ 0
United Kingdom, Pounds
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities	$ (12)		£ (7)
Foreign currency rate \| shares	1.7114	1.7114	1.7114	1.7114
Impact of 10% change in foreign currency rate	$ (1)
United Kingdom, Pounds \| Cash
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities \| £			£ 509
United Kingdom, Pounds \| Accounts payable and accrued liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities \| £			(299)
United Kingdom, Pounds \| Lease liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities \| £			£ (217)
Euro Member Countries, Euro
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities	$ 329			€ 225
Foreign currency rate \| shares	1.4632	1.4632	1.4632	1.4632
Impact of 10% change in foreign currency rate	$ 33
Euro Member Countries, Euro \| Cash
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities \| €				€ 425
Euro Member Countries, Euro \| Accounts payable and accrued liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities \| €				(201)
Euro Member Countries, Euro \| Lease liabilities
Disclosure of nature and extent of risks arising from financial instruments [line items]
Financial assets and liabilities \| €				€ 0

GOODWILL (Tables)

12 Months Ended

Mar. 31, 2024

Goodwill [Abstract]

Schedule of goodwill

Goodwill is recognized at the acquisition date when total consideration exceeds the net identifiable assets acquired.


Cost			$
Balance as at March 31, 2022			22,892
Effect of foreign exchange			1,900
Balance as at March 31, 2023			24,792
Acquisition from Small Pharma			22,652
Effect of foreign exchange			31
Balance as at March 31, 2024			47,475

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION - Share-based compensation (Details)	12 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Exercisable period	10 years

FINANCIAL INSTRUMENTS - Schedule of Quantitative Information of Significant Unobservable Inputs Used in Fair Value Measurements (Details) - Investments $ in Thousands	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 CAD ($)	Mar. 31, 2022 CAD ($)
Level 3 of fair value hierarchy
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Financial assets	$ 0	$ 0	$ 242
Rx Hybrid Instrument \| Fair value interest rate of loan and conversion feature
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Range of inputs	0.10
Rx Hybrid Instrument \| Level 3 of fair value hierarchy
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Financial assets	$ 0	$ 0

- Definition

+ References + Details

CAPITAL MANAGEMENT

12 Months Ended

Mar. 31, 2024

Capital Management [Abstract]

CAPITAL MANAGEMENT

The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern in order to pursue business opportunities and to maintain a flexible capital structure that optimizes the costs of capital at an acceptable risk. The Company’s intentions are to (i) provide financial capacity and flexibility in order to preserve its ability to meet its strategic objectives and financial obligations; (ii) maintain a capital structure which allows the Company to respond to changes in economic and marketplace conditions and affords the Company the ability to participate in new investments; (iii) optimize the use of its capital to provide an appropriate investment return to its shareholders equal with the level of risk; and (iv) maintain a flexible capital structure which optimizes the cost of capital at acceptable levels of risk.

The Company’s financial strategy is formulated and adapted according to market conditions in order to maintain a flexible capital structure that is consistent with its objectives and the risk characteristics of its underlying assets. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of its underlying assets. The Company maintains or adjusts its capital level to enable it to meet its objectives by raising capital through the issuance of securities.

The Company’s capital management objectives, policies and processes generally remained unchanged during the year ended March 31, 2024.

The Company requires capital to fund existing and future operations and meet regulatory capital requirements. The Company’s policy is to maintain adequate levels of capital at all times.

The Company’s capital structure includes the following:


As at	March 31, 2024	March 31, 2023
	$	$
Shareholders’ equity comprised of:
Share capital	443,877	158,162
Contributed surplus	11,750	2,102
Options reserve	39,177	27,283
Warrants reserve	25,639	10,873
Accumulated other comprehensive loss	(2,285)	(2,035)
Deficit	(226,231)	(148,151)
Total	291,927	48,234

SHARE CAPITAL - Summary of share capital (Details) $ / shares in Units, $ in Thousands											12 Months Ended
	Mar. 20, 2024 CAD ($) yr $ / shares	Jun. 29, 2023 CAD ($) yr $ / shares	Nov. 16, 2022 $ / shares	Sep. 30, 2022 CAD ($) $ / shares	Aug. 31, 2022 CAD ($) shares	Aug. 15, 2022 CAD ($) $ / shares	Jun. 27, 2022 CAD ($) shares	Jun. 24, 2022 CAD ($) shares	Jun. 22, 2022 CAD ($) shares	Apr. 01, 2022 CAD ($) shares	Mar. 31, 2024 CAD ($) shares	Mar. 31, 2023 CAD ($) shares	Nov. 14, 2023 CAD ($)	Sep. 26, 2023 CAD ($)
Reconciliation of number of shares outstanding [abstract]
Weighted average fair value at measurement date, share options granted \| $	$ 8	$ 4,080									$ 39,177		$ 10,907	$ 577
Risk free interest rate, share options granted	3.52%	3.78%
Expected volatility, share options granted	95.00%	95.00%
Option life, share options granted \| yr	5.00	5.00
Expected dividend as percentage, share options granted	0.00%	0.00%
Weighted average share price, share options granted \| $ / shares	$ 0.56	$ 0.47
Exercise price, share options granted (in CAD per share) \| $ / shares	$ 0.56	$ 0.44
Shares issued on Adelia milestones \| $												$ 2,988
Number of common shares held in escrow (in shares)											15,807,443	0
Class B Shares
Reconciliation of number of shares outstanding [abstract]
Balance (in shares)										1,047,135.1	530,542.1	1,047,135.1
Shares issued on Adelia milestones (in shares)					33,190.1		37,366.2	266,933.1	456.5	22,428.3	0	360,374.2
Converted to Common Shares (in shares)											(494,457.4)	(876,967.2)
Balance (in shares)											36,084.7	530,542.1
Shares issued on Adelia milestones \| $					$ 468		$ 280	$ 2,034	$ 5	$ 229
Employee
Reconciliation of number of shares outstanding [abstract]
Weighted average fair value at measurement date, share options granted \| $				$ 98		$ 14
Risk free interest rate, share options granted			3.78%	3.32%		2.88%
Expected volatility, share options granted			85.00%	95.00%		95.00%
Option life, share options granted			3	5		5
Expected dividend as percentage, share options granted			0.00%	0.00%		0.00%
Weighted average share price, share options granted \| $ / shares			$ 0.58	$ 0.67		$ 0.97
Exercise price, share options granted (in CAD per share) \| $ / shares			$ 0.75	$ 1.00		$ 1.00

CAPITAL MANAGEMENT (Tables)

12 Months Ended

Mar. 31, 2024

Capital Management [Abstract]

Disclosure Of Capital Structure

The Company’s capital structure includes the following:


As at	March 31, 2024	March 31, 2023
	$	$
Shareholders’ equity comprised of:
Share capital	443,877	158,162
Contributed surplus	11,750	2,102
Options reserve	39,177	27,283
Warrants reserve	25,639	10,873
Accumulated other comprehensive loss	(2,285)	(2,035)
Deficit	(226,231)	(148,151)
Total	291,927	48,234

CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
EXPENSES
Research	$ 32,362	$ 25,491
General and administrative costs	32,588	21,341
Share-based compensation	13,886	4,686
TOTAL EXPENSES	78,836	51,518
OTHER INCOME (EXPENSES)
Foreign currency translation gain (loss)	137	4,027
Interest income	619	603
Change in fair value of investments measured at fair value through profit or loss	0	(260)
Contingent consideration accretion	0	(13)
Change in fair value of contingent consideration	0	(329)
TOTAL OTHER INCOME (EXPENSES)	756	4,028
NET LOSS FOR THE YEAR	(78,080)	(47,490)
OTHER COMPREHENSIVE LOSS
Foreign currency translation differences for foreign operations	(250)	(1,669)
COMPREHENSIVE LOSS FOR THE YEAR	$ (78,330)	$ (49,159)
Basic loss per share for the year (in dollars per share)	$ (0.25)	$ (0.26)
Weighted average number of common shares outstanding - basic (in shares)	315,300,042	185,428,767

SUBSEQUENT EVENTS (Details)							12 Months Ended
SUBSEQUENT EVENTS (Details)	May 05, 2024 shares $ / shares	Apr. 05, 2024 shares $ / shares	Mar. 20, 2024 $ / shares	Nov. 16, 2023 shares	Sep. 26, 2023 shares	Jun. 29, 2023 shares $ / shares	Mar. 31, 2024 shares $ / shares	Mar. 31, 2023 shares
Disclosure of non-adjusting events after reporting period [line items]
Number of share options granted in share-based payment arrangement (in shares)				25,600,000	1,210,000	11,615,000	38,445,000	2,475,000
Exercise price, share options granted (in CAD per share) \| $ / shares			$ 0.56			$ 0.44
Award vesting period				2 years
Weighted average exercise price of share options forfeited in share-based payment arrangement (in CAD per share) \| $ / shares							$ 1.16
Share Options, Vesting, First Tranche
Disclosure of non-adjusting events after reporting period [line items]
Number of share options granted in share-based payment arrangement (in shares)				18,850,000
Number of options vested (in shares)					375,000	700,000
Award vesting period					3 months	3 months
Share Options, Vesting, Second Tranche
Disclosure of non-adjusting events after reporting period [line items]
Number of share options granted in share-based payment arrangement (in shares)				6,750,000
Number of options vested (in shares)					200,000	100,000
Award vesting period					6 months	1 year
Major ordinary share transactions \| Minimum
Disclosure of non-adjusting events after reporting period [line items]
Weighted average exercise price of share options forfeited in share-based payment arrangement (in CAD per share) \| $ / shares	$ 0.715
Major ordinary share transactions \| Maximum
Disclosure of non-adjusting events after reporting period [line items]
Weighted average exercise price of share options forfeited in share-based payment arrangement (in CAD per share) \| $ / shares	$ 3.15
Major ordinary share transactions \| Share Options, Vesting, First Tranche
Disclosure of non-adjusting events after reporting period [line items]
Number of options vested (in shares)		1,464,375
Major ordinary share transactions \| Share Options, Vesting, Second Tranche
Disclosure of non-adjusting events after reporting period [line items]
Number of options vested (in shares)		10,250,625
Award vesting period		2 years
Major ordinary share transactions \| Common shares
Disclosure of non-adjusting events after reporting period [line items]
Number of share options granted in share-based payment arrangement (in shares)		11,715,000
Exercise price, share options granted (in CAD per share) \| $ / shares		$ 0.56
Number of share options cancelled (in shares)	45,586,900
Major ordinary share transactions \| Common shares \| Granted to officers
Disclosure of non-adjusting events after reporting period [line items]
Number of share options granted in share-based payment arrangement (in shares)		7,250,000
Major ordinary share transactions \| Common shares \| Granted to employees
Disclosure of non-adjusting events after reporting period [line items]
Number of share options granted in share-based payment arrangement (in shares)		4,465,000

ACQUISITION

12 Months Ended

Mar. 31, 2024

Disclosure of detailed information about business combination [abstract]

ACQUISITIONS

ACQUISITION

On October 23, 2023, Cybin completed the acquisition of Small Pharma and its wholly-owned subsidiary Small Pharma Ltd. (the “Acquisition”) and issued 0.2409 Common Shares for every one common share of Small Pharma outstanding, resulting in a total of 80,945,254 Common Shares being issued to Small Pharma shareholders. As a result of the Acquisition, Small Pharma became a wholly-owned subsidiary of Cybin. On December 16, 2023 the Company changed the name of Small Pharma Ltd to Cybin UK Ltd.

In connection with the Acquisition, all unvested options of Small Pharma were vested and holders were able to exercise their options prior to the close of the Acquisition. All stock options of Small Pharma remaining unexercised at October 23, 2023 were cancelled and compensation of $0.001 per stock option was paid to the optionees.

As at October 23, 2023 Small Pharma’s patent portfolio consisted of 17 active patent families with 92 pending applications and 30 granted patents across its psychedelic and non-psychedelic portfolio.

The Company has determined that the Acquisition was a business combination under IFRS. In accordance with the measurement period permitted under IFRS 3 - Business Combinations, the fair value of the assets acquired and liabilities assumed have been estimated as follows for the purposes of these condensed interim consolidated financial statements. This fair valuation is provisional, and its finalization is to be completed within one year from the business combination date as allowed under IFRS 3 and adjusted retrospectively.


Acquisition Summary
Share Consideration	$	53,481
Fair value of purchaser consideration	$	53,481

Provisional Allocation of Purchase Price
Cash	$	7,632
Current assets	$	510
Net equipment	$	37
Intellectual property	$	29,339
Right of use asset	$	412
Lease liability	$	(415)
Liabilities assumed	$	(6,686)


Goodwill	$	22,652
Total allocation of purchase price	$	53,481

A professional valuator has been engaged by the Company to estimate the value of the assets of Small Pharma for

the purpose of the final purchase price allocation. Accordingly, the above estimated values may be subject to change.

As at February 28, 2023, Small Pharma had Canadian loss carry forwards of $9,393 and UK loss carry forwards (stated in Canadian dollars) of $46,631. No value has been ascribed to loss carry forward in these consolidated financial statements. Tax values of assets acquired may differ from their accounting values.

The following revenue and net loss is attributable to the period from Acquisition date to March 31, 2024 and included in these consolidated financial statements.


Revenue	$	—
Net loss	$	(1,666)

CONTRACTS, COMMITMENTS AND CONTINGENCIES	12 Months Ended
CONTRACTS, COMMITMENTS AND CONTINGENCIES	Mar. 31, 2024
Commitments [Abstract]
CONTRACTS, COMMITMENTS AND CONTINGENCIES	CONTRACTS, COMMITMENTS AND CONTINGENCIES As at March 31, 2024, the Company had entered into agreements for various studies which may require the Company to spend up to an additional $6,625. The Company expects to pay this amount within the 12 months ending March 31, 2025, however the timing and certainty of the payments are contingent on availability of materials and successful completion of certain milestones. The Company has the right to cancel the studies at its discretion, in which case a cancellation fee may apply, however the Company is not liable to pay the full amount of the studies. In addition to the above, during the year ended March 31, 2022, the Company entered into an exclusive license agreement with Mindset to acquire access to a number of classes of tryptamine-based molecules to support Company’s early-stage research programs and a fully-paid, perpetual non-exclusive license to a separate class of tryptamine-based molecules. Upon the successful completion of certain milestones contemplated in the exclusive license, the Company may have to pay additional consideration of up to $12,844 (US$9,500). At the sole discretion of Cybin, the milestones may be paid in cash or in Common Shares, or a combination thereof, subject to the approval of the Cboe. Due to the nature of the arrangement, the timing and probability of future potential payments cannot be determined at this time, and no accrual has been recorded. Further, there is no assurance that the aforementioned milestones will be met at all. The agreement also contemplates a sales royalty of approximately 2% for all commercialized licensed products within the scope of the agreement. The Company is party to certain employee and management contracts that contain severance obligations. These contracts contain clauses requiring additional payments to be made upon the occurrence of involuntary termination. As the likelihood of these events taking place is not determinable, no contingent liabilities have been recorded in the consolidated financial statements. In the normal course of business, the Company may be subject to legal proceedings and claims. As at March 31, 2024, there was no ongoing litigation and therefore no contingent liabilities have been recorded.

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION - Equipment and Intangible Assets (Details)	12 Months Ended
	Mar. 31, 2024
Computer software
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of intangible assets	3 years
Patents
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of intangible assets	17 years
Lab Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of equipment	5 years
Computer Equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful life of equipment	3 years

LEASES

12 Months Ended

Mar. 31, 2024

Presentation of leases for lessee [abstract]

LEASES


RIGHT-OF-USE -ASSET
Cost
Balance as at March 31, 2023	$	—
Additions	$	412
Effect of foreign exchange	$	12
Balance as at March 31, 2024	$	424

Accumulated amortization
Balance as at March 31, 2023	$	—
Amortization	$	140
Effect of foreign exchange	$	3
Balance as at March 31, 2024	$	143

Net book value, March 31, 2024	$	281


LEASE LIABILITY
Balance as at March 31, 2023	$	—
Additions	415
Interest accretion	8
Effect of foreign exchange	17
Payments	(149)
Balance as at March 31, 2024	291

Current lease liabilities	$	291

INCOME TAX - Income Tax Rate Reconciliation (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Taxes [Abstract]
Net loss before income taxes	$ (78,080)	$ (47,490)
Expected recovery at statutory rate	20,691	12,585
Non-capital loss acquired on acquisition of subsidiary	11,658	0
Share-based compensation	(3,680)	(1,242)
Share issuance costs	4,420	321
Difference between Canadian and foreign tax rates	(5,440)	(4,032)
Effect of exchange on unbooked deferred tax assets	(112)	438
Non-deductible expenses	(132)	(338)
Change in unrecognized deferred tax assets	(27,405)	(7,732)
Income tax recovery	$ 0	$ 0

CONTRACTS, COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022 CAD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2022 USD ($)
COMMITMENTS [Line Items]
Contractual commitments		$ 6,625
Sales Royalty, Percentage	2.00%
Other contingent liabilities
COMMITMENTS [Line Items]
Contractual commitments	$ 12,844		$ 9,500

INCOME TAX - Additional Information (Details) $ in Thousands	Mar. 31, 2024 CAD ($)
Income Taxes [Abstract]
Section 382 limitation	$ 144

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)

12 Months Ended

Mar. 31, 2024

Analysis of income and expense [abstract]

Schedule of General and Administrative Expenses


	Year ended March 31,
	2024	2023
	$	$
Payroll, consulting and benefits	8,248	6,272
Capital market	11,519	6,323
Office and administration	2,945	3,731
Professional and consulting fees	4,918	2,142
Investor relations	1,896	984
Marketing media	1,895	881
Business development	896	654
Listing fees	271	354
Total	32,588	21,341

FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	12 Months Ended
FINANCIAL INSTRUMENTS - Narrative (Details) $ in Thousands	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 CAD ($)
Disclosure of Financial Assets and Liabilities [Line Items]
Cash	$ 208,992	$ 16,633
Current liabilities	10,096	5,663
Accounts payable and accrued liabilities	$ 9,805	$ 5,663
Currency risk
Disclosure of Financial Assets and Liabilities [Line Items]
Reasonably possible change in risk variable, percent	0.10
Reasonably possible change in risk variable, impact on net loss	$ 20,138

EQUIPMENT (Tables)

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment1 [Abstract]

Schedule of equipment

Equipment consists as follows:


	Lab Equipment	Computer Equipment	Total
Cost	$	$	$
Balance as at March 31, 2022	475	238	713
Additions	142	—	142
Effect of foreign exchange	47	1	48
Balance as at March 31, 2023	664	239	903
Acquisition from Small Pharma	—	37	37
Additions	—	21	21
Computer equipment write-down	—	(33)	(33)
Effect of foreign exchange	—	1	1
Balance as at March 31, 2024	664	266	930

Accumulated Depreciation
Balance as at March 31, 2022	138	84	222
Depreciation charge	135	79	214
Effect of foreign exchange	17	—	17
Balance as at March 31, 2023	290	163	453
Depreciation charge	137	86	223
Computer equipment write-down	—	(15)	(15)
Effect of foreign exchange	3	—	3
Balance as at March 31, 2024	430	234	664

Net book value as at March 31, 2023	374	76	450
Net book value as at March 31, 2024	234	32	266

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CAD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Current
Cash	$ 208,992	$ 16,633
Accounts receivable	4,476	3,050
Prepaid expenses	2,891	1,733
Other current assets	2,177	1,769
Total Current Assets	218,536	23,185
Non-current
Equipment	266	450
Intangible assets	35,465	5,470
Right-of-use asset	281	0
Goodwill	47,475	24,792
Total Non-Current Assets	83,487	30,712
TOTAL ASSETS	302,023	53,897
Current
Accounts payable and accrued liabilities	9,805	5,663
Lease liabilities	291	0
Total Liabilities	10,096	5,663
SHAREHOLDERS' EQUITY
Share capital	443,877	158,162
Contributed surplus	11,750	2,102
Options reserve	39,177	27,283
Warrants reserve	25,639	10,873
Accumulated other comprehensive loss	(2,285)	(2,035)
Deficit	(226,231)	(148,151)
TOTAL SHAREHOLDERS' EQUITY	291,927	48,234
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 302,023	$ 53,897

RESEARCH EXPENSES (Details) - CAD ($) $ in Thousands	12 Months Ended
RESEARCH EXPENSES (Details) - CAD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Analysis of income and expense [abstract]
Advancement of development programs	$ 22,799	$ 14,360
Payroll and benefits	8,319	8,830
Professional and consulting fees	210	1,159
Lab and administration	1,034	1,142
Total	$ 32,362	$ 25,491

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION (Tables)

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of subsidiaries and functional currencies

The subsidiaries’ functional currencies are as follows:


Entity	Currency	Ownership
Cybin Corp.	Canadian dollars	100%
Journey	Canadian dollars	100%
Serenity	Canadian dollars	100%
Cybin US1	Canadian dollars	100%
Adelia	U.S. dollars	100%
Cybin IRL	U.S. dollars	100%
Cybin UK Ltd.2	Great Britain pounds	100%
Small Pharma Inc. (“Small Pharma”)2	Canadian dollars	100%

1 For accounting purposes, Cybin US is a wholly-owned subsidiary of Cybin. Certain Former Adelia Shareholders (as defined below) hold Class B Shares (defined below) in Cybin US.

2 Cybin UK Ltd and Small Pharma Inc. which were acquired on October 23, 2023. Cybin UK Ltd. was formerly Small Pharma Ltd. and was a

wholly-owned subsidiary of Small Pharma Inc.

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION - Cash and cash equivalents (Details) - CAD ($)	Mar. 31, 2024	Mar. 31, 2023
Accounting Policies [Abstract]
Cash equivalents	$ 0	$ 0

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2024
Events after reporting period [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 1, 2024, pursuant to the provisions of the Business Corporations Act (Ontario), Small Pharma completed a horizontal amalgamation with Cybin Corp., with Cybin Corp. being the resulting entity. As a result of this amalgamation, Cybin UK Ltd. is now a wholly-owned subsidiary of Cybin Corp. On April 5, 2024, the Company granted options to purchase up to 11,715,000 Common Shares, of which 7,250,000 were granted to officers and 4,465,000 were granted to employees. The granted options have an exercise price of $0.56 per Common Share. All the options expire on April 5, 2029. 1,464,375 options vest immediately and 10,250,625 options vest over two years. On May 5, 2024, the Company cancelled options(price ranged from $0.715 to $3.15) to purchase up to 45,586,900 Common Shares.

GOODWILL (Details)	12 Months Ended
GOODWILL (Details)	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 CAD ($)
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	$ 24,792,000
Balance at end of period	47,475,000	$ 24,792,000
Impairment loss	$ 0
Goodwill \| Discount rate
Reconciliation of changes in intangible assets and goodwill [abstract]
Significant unobservable input, assets	0.157
Goodwill \| Terminal growth rate
Reconciliation of changes in intangible assets and goodwill [abstract]
Significant unobservable input, assets	0.02
Goodwill
Reconciliation of changes in intangible assets and goodwill [abstract]
Balance at beginning of period	$ 24,792,000	22,892,000
Acquisition from Small Pharma	22,652,000
Effect of foreign exchange	31,000	1,900,000
Balance at end of period	$ 47,475,000	$ 24,792,000

INCOME TAX - Non-capital Losses Expiration (Details) $ in Thousands	Mar. 31, 2024 CAD ($)
Canada
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	$ 67,268
United States
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	16,267
Ireland
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	79,839
2040 \| Canada
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	740
2041 \| Canada
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	19,193
2041 \| United States \| Pre-acquisition loss generated in the period ended December 4, 2020
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	992
2041 \| United States \| Post-acquisition loss generated in the period ending March 31, 2021
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	1,323
2042 \| Canada
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	12,234
2042 \| United States \| Loss generated in the year ending March 31, 2022
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	5,849
2042 \| Ireland
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	22,965
2043 \| Canada
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	10,704
2043 \| United States \| Loss generated in the year ending March 31, 2023
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	5,311
2043 \| United States \| Loss generated in the year ending March 31, 2024
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	2,792
2043 \| Ireland
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	23,017
2044 \| Canada
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	24,397
2044 \| Ireland
Disclosure Of Non-Capital Losses Expiration [Line Items]
Non-capital losses	$ 33,857

ACQUISITION - Details of acquisition (Details) - Small Pharma Inc. ("Small Pharma") $ in Thousands	Oct. 23, 2023 CAD ($)
Disclosure of detailed information about business combination [line items]
Fair value of purchaser consideration	$ 53,481
Cash	7,632
Cash	510
Net equipment	37
Intellectual property	29,339
Right of use asset	412
Lease liability	(415)
Liabilities assumed	(6,686)
Goodwill	22,652
Total allocation of purchase price	$ 53,481

SHARE CAPITAL - Narrative - Issued Share Capital (Details) $ / shares in Units, $ / shares in Units, $ in Thousands, $ in Thousands													12 Months Ended
	Mar. 19, 2024 CAD ($) shares	Mar. 19, 2024 USD ($) $ / shares shares	Nov. 14, 2023 CAD ($) $ / shares shares	Nov. 14, 2023 USD ($) $ / shares shares	Aug. 04, 2023 CAD ($) $ / shares shares	Aug. 04, 2023 USD ($) $ / shares shares	May 30, 2023 CAD ($) shares	Aug. 31, 2022 CAD ($) $ / shares shares	Jun. 27, 2022 CAD ($) $ / shares shares	Jun. 24, 2022 CAD ($) $ / shares shares	Jun. 22, 2022 CAD ($) shares	Apr. 01, 2022 CAD ($) $ / shares shares	Mar. 31, 2024 CAD ($) $ / shares shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 CAD ($) $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Nov. 14, 2023 $ / shares	Aug. 23, 2023 CAD ($)	Aug. 04, 2023 $ / shares	Aug. 08, 2022 CAD ($)	Mar. 31, 2022 shares	Feb. 04, 2021
Disclosure of classes of share capital [line items]
Number of common shares held in escrow (in shares)													15,807,443	15,807,443	0	0
Common stock shares, authorized value \| $																		$ 35		$ 35,000
Payments for share issue costs \| $													$ 832		$ 950
Percentage of outstanding common shares							0.0999
Professional and consulting fees \| $													4,918		2,142
Shares issued on Adelia milestones \| $															$ 2,988
2021 Warrants
Disclosure of classes of share capital [line items]
Warrant, conversion ratio																						0.5
August 2023 compensation common share warrant
Disclosure of classes of share capital [line items]
Share price (in CAD per share) \| $ / shares						$ 0.34
Payments for share issue costs					$ 506	$ 379
Exercise price of other equity instruments (in CAD/USD per share) \| (per share)					$ 0.53														$ 0.40
Professional and consulting fees					$ 622	465
November 2023 compensation common share warrant
Disclosure of classes of share capital [line items]
Share price (in CAD per share) \| $ / shares				$ 0.46
Payments for share issue costs					2,096	1,530
Exercise price of other equity instruments (in CAD/USD per share) \| (per share)			$ 0.70														$ 0.51
Professional and consulting fees					$ 339	$ 247
March 2024 private placement
Disclosure of classes of share capital [line items]
Payments for share issue costs	$ 11,726	$ 8,665
Professional and consulting fees	$ 78	$ 58
LPC Purchase Agreement
Disclosure of classes of share capital [line items]
Common stock shares, authorized value \| $							$ 30,000											$ 30,000
Proceeds from issue of ordinary shares													$ 476	$ 351
Purchase period, term							36 months
Common shares
Disclosure of classes of share capital [line items]
At-the-market offering - net of share issuance costs (in shares)	348,837,210	348,837,210			24,264,706	24,264,706	2,538,844						34,140,507	34,140,507	20,754,120	20,754,120
Share price (in CAD per share) \| (per share)						$ 0.34							$ 0.4549	$ 0.3374	$ 0.6819	$ 0.5079
Proceeds from issue of ordinary shares					$ 11,018	$ 8,250							$ 15,532	$ 11,518	$ 14,152	$ 10,541
Common shares \| November 2023 compensation common share warrant
Disclosure of classes of share capital [line items]
At-the-market offering - net of share issuance costs (in shares)			66,666,667	66,666,667
Share price (in CAD per share) \| $ / shares				$ 0.45
Proceeds from issue of ordinary shares			$ 41,107	$ 30,000
Common shares \| March 2024 private placement
Disclosure of classes of share capital [line items]
Share price (in CAD per share) \| $ / shares		$ 0.43
Proceeds from issue of ordinary shares	$ 202,995	$ 150,000
Number of shares subject to resale restrictions (in shares)	15,807,443	15,807,443
Common shares \| LPC Purchase Agreement
Disclosure of classes of share capital [line items]
At-the-market offering - net of share issuance costs (in shares)													1,925,000	1,925,000
Share price (in CAD per share) \| (per share)													$ 0.3236	$ 0.2417
Proceeds from issue of ordinary shares													$ 623	$ 465
Preferred shares
Disclosure of classes of share capital [line items]
Number of shares outstanding (in shares)													0	0	0	0
Class B Shares
Disclosure of classes of share capital [line items]
Share price (in CAD per share) \| $ / shares								$ 14.10	$ 7.50	$ 7.62		$ 10.20
Number of shares outstanding (in shares)													36,084.7	36,084.7	530,542.1	530,542.1					1,047,135.1
Number of shares issued upon conversion of convertible instruments (in shares)								331,901	373,662	2,669,331		224,283	360,847	360,847
Shares issued on Adelia milestones (in shares)								33,190.1	37,366.2	266,933.1	456.5	22,428.3	0	0	360,374.2	360,374.2
Shares issued on Adelia milestones \| $								$ 468	$ 280	$ 2,034	$ 5	$ 229
Convertible stock, conversion price (in CAD per share) \| $ / shares								$ 1.41	$ 0.75	$ 0.76		$ 1.02
Class B Shares \| Exchangeable prior to December 14, 2022
Disclosure of classes of share capital [line items]
Shares issued upon conversion, percentage													33.333%	33.333%
Class B Shares \| Exchangeable prior to December 14, 2023
Disclosure of classes of share capital [line items]
Shares issued upon conversion, percentage													66.667%	66.667%

RELATED PARTY TRANSACTIONS AND BALANCES

12 Months Ended

Mar. 31, 2024

Related Party [Abstract]

RELATED PARTY TRANSACTIONS AND BALANCES

Key management personnel include persons having the authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has determined its key management personnel to be executive officers and directors of the Company.

The remuneration of key management personnel for the years ended March 31, 2024 and 2023 are as follows:


	Year ended March 31,
	2024	2023
	$	$
Payroll, consulting and benefits(1)	6,406	5,966
Share-based compensation
Options	8,643	2,346
Warrants	—	3
Total	15,049	8,315

(1) For the year ended March 31, 2024, includes $5,145 presented in the consolidated statement of loss and comprehensive loss as a part of “General and administrative costs” and $1,261 presented in the consolidated statement of loss and comprehensive loss as a part of “Research”.

FINANCIAL INSTRUMENTS

12 Months Ended

Mar. 31, 2024

Financial Instruments [Abstract]

FINANCIAL INSTRUMENTS

The Company’s financial instruments are exposed to certain financial risks, which include currency risk, credit risk, liquidity risk and interest rate risk.

The Company has classified its financial instruments as follows:


As at	March 31, 2024	March 31, 2023
	$	$
Financial assets, measured at fair value:
Cash	208,992	16,633
Financial assets, measured at amortized cost:
Accounts receivable	254	42
Financial liabilities, measured at amortized cost:
Accounts payable and accrued liabilities	9,805	5,663
Lease liabilities	291	—

The carrying value of the Company’s financial instruments approximate their fair value.

Fair value Hierarchy of Financial Instruments

The Company has categorized its financial instruments that are carried at fair value, based on the priority of the inputs to the valuation techniques used to measure fair value, into a three-level fair value hierarchy as follows:

Level 1: Fair value is based on unadjusted quoted prices for identical assets or liabilities in an active market. The types of assets and liabilities classified as Level 1 generally included cash.

Level 2: Fair value is based on quoted prices for similar assets or liabilities in active markets, valuation that is based on significant observable inputs, or inputs that are derived principally from or corroborated with observable market data through correlation or other means. Currently, the Company has no financial instruments that would be classified as Level 2.

Level 3: Fair value is based on valuation techniques that require one or more significant inputs that are not based on observable market inputs. These unobservable inputs reflect the Company’s assumptions about the assumptions market participants would use in pricing the asset or liability. Investments and any contingent liabilities are classified as Level 3.

There were no transfers between levels of the fair value hierarchy for the year ended March 31, 2024.

The following table presents the changes in level 3 financial assets for the for two years ended March 31, 2024 :


			$
Balance as at March 31, 2022			242
Interest income			18
Change in fair value of investments measured at fair value through profit or loss			(260)
Balance as at March 31, 2023			—
Interest income			—
Change in fair value of investments measured at fair value through profit or loss			—
Balance as at March 31, 2024			—

The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 fair value measurements:

Description

Fair Value as at

Unobservable inputs

Range of inputs

Relationship of unobservable inputs to fair value

March 31, 2024

March 31, 2023

Rx Hybrid Instrument

—

Fair value interest rate of loan and conversion feature

10%

Increase/decrease in the fair value rate by 1% would not have a material effect on the fair value of the investment

Financial risk management

Credit risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company’s cash is exposed to credit risk. The Company reduces its credit risk on cash by placing these instruments with institutions of high credit worthiness. As at March 31, 2024, the Company’s maximum exposure to credit risk is the carrying value of its financial assets.

Liquidity risk

Liquidity risk is the risk that an entity will encounter difficulty in raising funds to meet commitments associated with financial instruments. The Company manages liquidity by maintaining adequate cash balances to meet liabilities as they become due.

As at March 31, 2024, the Company had cash of $208,992 (March 31, 2023 - $16,633) in order to meet current liabilities. Accounts payable and accrued liabilities include trade payables and other obligations of $10,096 (March 31, 2023 - $5,663), all amounts are due within the next 12 months.

Market risk

The significant market risks to which the Company is exposed are interest rate risk and currency risk.

Interest rate risk

Interest rate risk is the risk that the fair value or the future cash flows of a financial instrument will fluctuate because of changes in market interest rate. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities. As at March 31, 2024, the Company has determined its exposure to interest rate risk is minimal.

Currency risk

The Company is exposed to currency risk to the extent that monetary operational expenses are denominated in both CAD and USD while the functional currency of CAD is used for reporting. The Company has not entered into any foreign currency contracts to mitigate this risk.

At March 31, 2024, the Company had the following balances in monetary assets and monetary liabilities which are subject to fluctuation against CAD:


Denominated in:	US$000’s		GBP 000’s		EUR 000’s
Cash	148,713		509		425
Accounts payable and accrued liabilities	(343)		(299)		(201)
Lease liability	—		(217)		—
	148,370		(7)		225
Foreign currency rate	1.3550		1.7114		1.4632
Equivalent in Canadian dollars	$	201,041	$	(12)	$	329
Impact of 10% change in foreign currency rate	$	20,104	$	(1)	$	33

Based on the above net exposures as at March 31, 2024, and assuming that all other variables remain constant, a 10% change of the USD, GBP and EUR, against the CAD would impact net loss by approximately by $20,138.

CONSOLIDATED STATEMENT OF CASH FLOWS - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES
Net loss for the year	$ (78,080)	$ (47,490)
Adjustments for items not affecting cash:
Interest income	0	(18)
Depreciation and amortization	424	251
Share-based compensation	13,886	4,686
Lease interest	8	0
Computer equipment write-down	18	0
Change in fair value of investments measured at fair value through profit or loss	0	260
Contingent consideration accretion	0	13
Change in fair value of contingent consideration	0	329
Unrealized foreign currency translation (gain)	(137)	(4,025)
Cash flows used in operating activities before net changes in non-cash working capital items	(63,881)	(45,994)
Net changes in non-cash working capital items:
Accounts receivable	(1,089)	(948)
Prepaid expenses	(986)	(462)
Other current assets	(408)	(428)
Accounts payable and accrued liabilities	(2,544)	401
Net cash flows used in operating activities	(68,908)	(47,431)
INVESTING ACTIVITIES
Cash acquired on acquisition	7,632	0
Purchase of intangible assets	(689)	(3,167)
Purchase of equipment	(21)	(142)
Net cash flows used in investing activities	6,922	(3,309)
FINANCING ACTIVITIES
Proceeds on issuance of common shares, net	254,600	13,202
Lease payments	(149)	0
Warrant exercise	56	362
Net cash flows from financing activities	254,507	13,564
Effects of exchange rate changes on cash	(162)	168
Net change in cash	192,359	(37,008)
Cash, beginning of year	16,633	53,641
Cash, end of year	$ 208,992	$ 16,633

INCOME TAX (Tables)

12 Months Ended

Mar. 31, 2024

Income Taxes [Abstract]

Major items causing the income tax rate to differ from the Canadian statutory rate

Major items causing the Company’s income tax rate to differ from the Canadian statutory rate of approximately 26.5% are as follows:


	Year ended March 31,
	2024		2023
Net loss before income taxes	$	(78,080)	$	(47,490)

Expected recovery at statutory rate	$	20,691	$	12,585
Non-capital loss acquired on acquisition of subsidiary	$	11,658	$	—
Share-based compensation	$	(3,680)	$	(1,242)
Share issuance costs	$	4,420	$	321
Difference between Canadian and foreign tax rates	$	(5,440)	$	(4,032)
Effect of exchange on unbooked deferred tax assets	$	(112)	$	438
Non-deductible expenses	$	(132)	$	(338)
Change in unrecognized deferred tax assets	$	(27,405)	$	(7,732)
Income tax recovery	$	—	$	—

Significant components of deferred tax assets

The significant components of the Company’s temporary differences, unused tax credits and unused tax losses, that have not been included on the consolidated statements of financial position, are as follows:


As at	March 31, 2024		March 31, 2023
Non-capital loss carryforwards	$	43,083	$	19,371
Deferred compensation	$	1,474	$	1,474
R&D expenditures	$	1,681	$	1,053
Share issuance costs	$	4,361	$	1,303
Depreciation/CCA differences	$	7	$	(6)
Other	$	—	$	6
	$	50,606	$	23,201
Valuation allowance	$	(50,606)	$	(23,201)
	$	—	$	—

Non-capital losses expiration


Year of expiry
2040	$	740
2041	$	19,193
2042	$	12,234
2043	$	10,704
2044	$	24,397
	$	67,268

This loss carryforward in the United States consists of:



Pre-acquisition loss generated in the period ended December 4, 2020	$	992
Post-acquisition loss generated in the period ending March 31, 2021	$	1,323
Loss generated in the year ending March 31, 2022	$	5,849
Loss generated in the year ending March 31, 2023	$	5,311
Loss generated in the year ending March 31, 2024	$	2,792
	$	16,267

The non-capital losses in Ireland expire as follows:


Year of expiry
2042	$	22,965
2043	$	23,017
2044	$	33,857
	$	79,839

RELATED PARTY TRANSACTIONS AND BALANCES - Schedule of Remuneration of Key Management Personnel (Details) - CAD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [line items]
Payroll, consulting and benefits	$ 6,406	$ 5,966
Total	15,049	8,315
General and administrative costs
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [line items]
Payroll, consulting and benefits	5,145
Research
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [line items]
Payroll, consulting and benefits	1,261
Options
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [line items]
Share-based compensation	8,643	2,346
Warrants
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [line items]
Share-based compensation	$ 0	$ 3

ACQUISITION - Results since acquisition (Details) - CAD ($) $ in Thousands	5 Months Ended	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023
Disclosure of detailed information about business combination [line items]
Net loss for the year		$ (78,080)	$ (47,490)
Small Pharma Inc. ("Small Pharma")
Disclosure of detailed information about business combination [line items]
Revenue	$ 0
Net loss for the year	$ (1,666)

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

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- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

LEASES - Right of use assets (Details) $ in Thousands	12 Months Ended
LEASES - Right of use assets (Details) $ in Thousands	Mar. 31, 2024 CAD ($)
Disclosure of maturity analysis of operating lease payments [line items]
Right-of-use assets, beginning of period	$ 0
Right-of-use assets, end of period	281
Cost
Disclosure of maturity analysis of operating lease payments [line items]
Right-of-use assets, beginning of period	0
Additions	412
Effect of foreign exchange	(12)
Right-of-use assets, end of period	424
Accumulated amortization
Disclosure of maturity analysis of operating lease payments [line items]
Right-of-use assets, beginning of period	0
Effect of foreign exchange	3
Amortization	140
Right-of-use assets, end of period	$ (143)

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Mar. 31, 2024
Audit Information [Abstract]
Auditor Name	Zeifmans LLP
Auditor Location	Toronto, Ontario
Auditor Firm ID	1149

COVER	12 Months Ended
COVER	Mar. 31, 2024 shares
Entity Addresses [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Current Fiscal Year End Date	--03-31
Entity File Number	001-40673
Entity Registrant Name	Cybin Inc.
Entity Incorporation, State or Country Code	A6
Entity Primary SIC Number	2834
Entity Address, Address Line One	100 King Street West
Entity Address, Address Line Two	Suite 5600
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Country	CA
Entity Address, Postal Zip Code	M5X 1C9
City Area Code	908
Local Phone Number	764-8385
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	CYBN
Security Exchange Name	NYSEAMER
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Common Stock, Shares Outstanding	760,053,342
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Financial Statement Error Correction [Flag]	false
Entity Central Index Key	0001833141
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Document Period End Date	Mar. 31, 2024
Amendment Flag	false
Business Contact
Entity Addresses [Line Items]
Contact Personnel Name	CT Corporation System
Entity Address, Address Line One	1015 15th Street N.W.
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20005
City Area Code	202
Local Phone Number	572-3133

EQUIPMENT

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment1 [Abstract]

EQUIPMENT

Equipment consists as follows:


	Lab Equipment	Computer Equipment	Total
Cost	$	$	$
Balance as at March 31, 2022	475	238	713
Additions	142	—	142
Effect of foreign exchange	47	1	48
Balance as at March 31, 2023	664	239	903
Acquisition from Small Pharma	—	37	37
Additions	—	21	21
Computer equipment write-down	—	(33)	(33)
Effect of foreign exchange	—	1	1
Balance as at March 31, 2024	664	266	930

Accumulated Depreciation
Balance as at March 31, 2022	138	84	222
Depreciation charge	135	79	214
Effect of foreign exchange	17	—	17
Balance as at March 31, 2023	290	163	453
Depreciation charge	137	86	223
Computer equipment write-down	—	(15)	(15)
Effect of foreign exchange	3	—	3
Balance as at March 31, 2024	430	234	664

Net book value as at March 31, 2023	374	76	450
Net book value as at March 31, 2024	234	32	266

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION

12 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

MATERIAL ACCOUNTING POLICIES AND BASIS OF PREPARATION

MATERIAL ACCOUNTING POLICY INFORMATION AND BASIS OF PREPARATION

Statement of compliance

The Company’s board of directors has the power to amend the consolidated financial statement after issuance.

Basis of measurement

Functional and presentation currency

These consolidated financial statements are presented in Canadian dollars, the Company’s presentation currency. The subsidiaries’ functional currencies are as follows:


Entity	Currency	Ownership
Cybin Corp.	Canadian dollars	100%
Journey	Canadian dollars	100%
Serenity	Canadian dollars	100%
Cybin US1	Canadian dollars	100%
Adelia	U.S. dollars	100%
Cybin IRL	U.S. dollars	100%
Cybin UK Ltd.2	Great Britain pounds	100%
Small Pharma Inc. (“Small Pharma”)2	Canadian dollars	100%