Enveric Biosciences Inc. has announced the immediate exercise of certain outstanding warrants, resulting in approximately $3.1 million in gross proceeds. The company entered into definitive agreements to allow for the exercise of warrants to purchase up to 426,390 shares at a reduced exercise price of $7.05 per share, down from previous exercise prices of $36.00 and $10.98. In connection with the exercise, Enveric will also issue new unregistered Series E and Series F warrants, each allowing purchases of up to 426,390 shares at $7.05 per share. The Series E warrants will expire five years after the effective date of the resale registration statement, while the Series F warrants will expire eighteen months after that date. The proceeds will be used for product development, working capital, and general corporate purposes. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.