HYTN Innovations Inc. (CSE: HYTN) announced on November 12, 2026, that shareholders have unanimously approved the spin-out of Peptide Development Labs Inc. (PDL) at the company's Annual General and Special Meeting held in Vancouver. Under the arrangement, each HYTN shareholder will receive one new HYTN share and approximately 0.0556 of a PDL common share for every existing HYTN share held. The transaction remains subject to final court approval, a concurrent PDL financing, and CSE approval, with an anticipated effective date of on or about November 17, 2026.

Key Points

  • HYTN Innovations Inc. (CSE: HYTN | OTC Pink: HYTNF | FSE: 85W0)
  • Shareholders voted 100% in favour of spinning out Peptide Development Labs Inc. via a statutory plan of arrangement
  • New HYTN and PDL common shares are expected to begin trading on the CSE on November 18, 2026; PDL has applied to list under the ticker "PEPT"
  • Investors should watch for final court approval, CSE listing confirmation, and completion of a concurrent PDL unit financing

Share Exchange Mechanics and PDL Listing Application

Under the proposed arrangement, each existing HYTN common share will be exchanged for one new HYTN common share and 0.0555555555555556 of a PDL common share. PDL has applied to list its common shares on the CSE under the trading symbol "PEPT," though listing remains conditional on PDL satisfying CSE requirements. The release states that both new HYTN shares and PDL shares are expected to commence trading on November 18, 2026, one day after the anticipated effective date of the arrangement.

Registered Shareholder Steps for Receiving PDL Shares

HYTN has mailed letters of transmittal to eligible registered shareholders. To receive Direct Registration System statements representing new HYTN and PDL common shares, registered holders must complete the letter of transmittal and either provide their DRS account number or surrender existing certificates to Odyssey Trust Company, the designated depositary. Shareholders holding shares through a broker do not need to act directly, as brokers or their depositaries will manage the exchange and distribution of shares on the shareholder's behalf.

Board Re-Elections and Auditor Reappointment at HYTN's AGM

At the same meeting, HYTN shareholders set the number of directors at four for the ensuing year and re-elected Elliot McKerr, Jason Broome, Fabian Monaco, and Eli Dusenbury to the board. Crowe MacKay LLP, Chartered Accountants, was reappointed as HYTN's auditor for the ensuing year. The release describes PDL as a Canadian pharmaceutical development company advancing an investigational subcutaneous BPC-157 drug candidate for refractory ligament disorders through formal clinical development pathways.

Conditions Still Required Before the Arrangement Closes

Despite unanimous shareholder approval, the arrangement is not yet complete. The release confirms that final court approval, CSE approval, and the closing of a concurrent PDL unit financing must all be satisfied before the transaction can close. The immediate share price impact was not clear from available public information. Investors may be watching closely for confirmation that these remaining conditions are met ahead of the anticipated November 17, 2026 effective date.