Canada NewsWire

TORONTO, May 26, 2020

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, May 26, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF) (“MindMed” or the “Company“) is pleased to announce that it has closed its previously announced bought deal short form prospectus offering, including the exercise in full of the underwriter’s over-allotment option (the “Offering“). In connection with the Offering, the Company issued 24,953,850 units of the Company (the “Units“) at a price per Unit of $0.53 CAD (the “Issue Price“) for gross proceeds of $13,225,540.50. Eight Capital acted as sole bookrunner and underwriter in the Offering.

Each Unit comprises one subordinate voting share of the Company (a “Subordinate Voting Share“) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant entitles the holder thereof to purchase one Subordinate Voting Share at an exercise price of $0.79 until May 26, 2022. If, prior to the expiry of the Warrants, the daily volume weighted average price of the Subordinate Voting Shares on the facilities of the Neo Exchange Inc. is equal to or greater than $1.13 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice. The Warrants will be listed for trading on the facilities of the NEO Exchange under the symbol “MMED.WT”, subject to the final approval of the NEO Exchange.

The Company intends to use a portion of the net proceeds of the Offering to fund its collaboration with University Hospital Basel’s Liechti Lab and the remainder for general corporate purposes. With this new funding, MindMed plans to expand research & development programs and clinical trials underway at Liechti Lab to create next-generation psychedelic inspired medicines and therapies.

MindMed Director & Co-CEO, JR Rahn, said “With this financing, we aim to greatly expand MindMed’s portfolio researching next-gen psychedelic inspired medicines in collaboration with the University Hospital Basel’s Liechti Lab. We are already extremely encouraged by the potential of novel research & development being generated by Dr. Liechti and his team.”

Subscriptions by an insider of the Company, Director & Co-CEO JR Rahn, accounted for approximately $50,000 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this ground-breaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co. MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the intended use of proceeds of the Offering, the listing of the Warrants on the NEO Exchange and the Company’s ability to develop next generation psychedelic therapies. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

For further information:
Media Contact: Anna Walsh, E: mindmedpr@pacepublicrelations.com, P: 212-254-4730; or Investor Relations:
invest@mindmed.co, https://www.mindmed.co

SOURCE Mind Medicine (MindMed) Inc.

PRESS RELEASE                    

For Immediate Release:

May 14, 2020 7:00 AM EST                                  

                     

MindMed Reports First Quarter 2020 Results and Corporate Update

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, May 14, 2020: Mind Medicine (MindMed) Inc. (“MindMed” or the “Company”) (NEO: MMED, OTCQB: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines, today announced the release of its unaudited condensed consolidated financial statements (the “Financial Statements”) and accompanying management’s discussion and analysis (the “MD&A”) for the quarter ended March 31, 2020. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.

First Quarter Highlights and Subsequent Events

·       Mind Medicine, Inc. completed its reverse takeover transaction of the Company (then called Broadway Gold Mining Ltd.) by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”) pursuant to the terms of an arrangement agreement entered into on October 15, 2019 (the “Arrangement Agreement”) between Broadway Gold Mining Ltd., Madison Metals Inc., Broadway Delaware Subco Inc. and the Company.

·       MindMed’s subordinate voting shares were listed for trading on the Neo Exchange Inc.

·       MindMed raised an aggregate of $18,905,850 (net of share issuance costs of $802,295) through financings completed during the quarter.

·       MindMed expanded its leading team of pharmaceutical industry veterans and advisors with deep experience of psychedelics during the quarter.

·       MindMed further developed the infrastructure in the period for its drug development platform to discover, develop and deploy psychedelic inspired medicines. As part of this process, the Company actively pursued its strategy to further grow its clinical trial collaborations and intellectual property (IP) acquisitions during this period.

• MindMed established a psychedelics microdosing division and began preparing a Phase 2 trial for microdosing of lysergic acid diethylamide (LSD) for the treatment of Adult Attention Deficit Hyperactivity Disorder (ADHD).

Outlook and Update

• MindMed continues advancing the development of its 18-MC drug development program through further human safety studies and is targeting to begin its Phase 2 trial of 18-MC by the end of the year.
• MindMed is targeting to begin its Phase 2a microdosing trial of LSD for Adult ADHD by the end of the year.
• MindMed continues to pursue new collaborations, acquisitions of IP and clinical trials to build a compelling pipeline and portfolio of psychedelic inspired medicines.

 

Financial Results

Overview

Since inception, the Company has incurred losses while advancing the research and development of its products. Comprehensive loss for the quarter ended March 31, 2020 was $7,020,797. The net loss was due primarily to transaction costs of $2,142,024 related to completion of the Arrangement, research and development expenditures of $1,803,487, compensation paid to management of $1,173,538 and legal fees of $1,045,048.

Research and Development

Research and development expenses by program for the quarter ended March 31, 2020 were as follows(1):

18-MC program                                                                                             $              585,995

LSD program                                                                                                             1,013,856

Non-program specific                                                                                                   203,635

Total                                                                                                            $            1,803,487

Note:

(1)    Research and development expenditures in the above table include all direct and indirect costs for the programs, personnel costs, intellectual property.

General and Administrative

General and administrative expenses for the quarter ended March 31, 2020 were $1,880,077 and consisted of  consulting fees, short-term benefits and other compensation, legal fees, accounting and audit, marketing, travel and other, and primarily related to the establishment of MindMed and its operations.

Cash and Working Capital

The Company’s cash and working capital at March 31, 2020 was $20,508,184 and $18,752,519, respectively. The increase in cash was primarily due to the $18,905,850 of net financings, net of the cash used in operations of $5,963,088. The increase in working capital was due mainly to the net financings.

Cash Flows from Operating Activities

Cash used in operating activities of $5,100,008 for the quarter ended March 31, 2020 was primarily due to the comprehensive loss of $7,020,797, partially offset by non-cash changes in working capital items and non-cash operating expenses.

Cash Flows from Financing Activities

Cash provided by financing activities totaled $18,905,850 for the period ended March 31, 2020. The funds were provided primarily from various financings completed prior to the Arrangement.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The Company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the Company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Cautionary Statements and Disclaimer: This news release contains “forward-looking information” and “forward-looking statements” within the meanings of applicable securities laws, which may include, but is not limited to, statements with respect to anticipated business plans or strategies of MindMed, the anticipated date of completion of micro-dosing studies, the timing of any drug trials, the success of its clinical trials and the ability to enter into acquisitions or collaborations to enhance its drug development platform and IP portfolio.  Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

MINDMED FILES PRELIMINARY PROSPECTUS IN CONNECTION WITH BOUGHT DEAL EQUITY FINANCING

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO – May 11, 2020 – Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF) (“MindMed” or the “Company”) is pleased to announce that further to its previously announced offering (the “Offering”) on May 5, 2020 and May 6, 2020, it has filed a preliminary short form prospectus (the “Preliminary Prospectus”) with the securities commissions or similar authorities in each province of Canada, other than Québec. Pursuant to the underwriting agreement with Eight Capital (the “Underwriter”), the Underwriter has agreed to purchase, as sole bookrunner and underwriter, 21,699,000 units of the Company (the “Units”), on a “bought deal” basis, at a price per Unit of $0.53 CAD (the “Issue Price”) for gross proceeds of $11,500,470.

The Company has also granted the Underwriter an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $1,725,070.50 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $13,225,540.50.

Each Unit will be comprised of one subordinate voting share of the Company (a “Subordinate Voting Share”) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Subordinate Voting Share at an exercise price of $0.79, for a period of 24 months following the closing of the Offering. If, following the closing of the Offering, the daily volume weighted average price of the Subordinate Voting Shares on the NEO Exchange is equal to or greater than $1.13 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering to fund its collaboration with University Hospital Basel’s Liechti Laboratory and for general corporate purposes.

The Offering is scheduled to close on or about May 22, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Neo Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

The Preliminary Prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each province of Canada, other than Québec. The Preliminary Prospectus is still subject to completion or amendment. A copy of the Preliminary Prospectus can be obtained under the Company’s corporate profile on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co. MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, regulatory approvals and the intended use of proceeds of the Offering. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

For further information:

Media Contact: Anna Walsh, E: mindmedpr@pacepublicrelations.com, P: 212-254-4730; or Investor Relations:

invest@mindmed.co, https://www.mindmed.co

MindMed Advances Phase 2 LSD Microdosing Trial For Adult ADHD, Appoints Principal Investigator

Signs Clinical Trial Agreement With Maastricht University In Netherlands

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO – May 11, 2020 – Mind Medicine (MindMed) Inc. (NEO: MMED; OTC: MMEDF) ( (“MindMed” or the “Company”) is pleased to announce that, on May 8, 2020, it has entered into a clinical trial agreement with Maastricht University to undertake a Phase 2a clinical trial for lysergic acid diethylamide (“LSD”) in adult patients with Attention Deficit Hyperactivity Disorder (“ADHD”). MindMed previously established a microdosing division to develop a portfolio of clinical trials studying the use of sub-perceptual amounts of psychedelic substances for medical purposes.

As part of the agreement, Maastricht University will provide facilities and personnel for the Phase 2a Proof of Concept Clinical Trial for MindMed’s multicentre, randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of low dose LSD as treatment for ADHD in adults.

Dr. Kim Kuypers, associate professor, Department of Neuropsychology & Psychopharmacology at Maastricht University will serve as a Principal Investigator for the Phase 2a Clinical Trial. Dr. Kuypers is a leading clinical investigator in the field of psychedelics and has previously evaluated the concept of microdosing in other research. Her main goal as a clinical researcher is to understand the neurobiology underlying flexible cognition, empathy, and well-being.

MindMed is now advancing its LSD microdosing program with both Dr Kuypers and the previously announced partnership with University Hospital Basel’s Liechti Lab. MindMed is currently in the regulatory ethics submission process in the Netherlands and plans to begin the Phase 2a clinical trial by the end of the year.

MindMed Co-Founder and Co-CEO, JR Rahn, said, “Working with Dr. Kim Kuypers, one of the leading research experts for microdosing of psychedelics, has the potential to help millions of adults through the development of innovations for coping and treating ADHD. Our work in the Netherlands will complement our existing collaboration with University Hospital Basel’s Liechti Lab to better understand the therapeutic potential of microdosing.”

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” within the meanings of applicable securities laws, which may include, but are not limited to, statements with respect to anticipated business plans or strategies of MindMed, clinical trials that may be conducted by MindMed and/or its partners or affiliates (and the timing and results thereof), uses and viability of MindMed’s products, anticipated legal status or approval of any of MindMed’s products (if at all), and the future business, operations or capital of MindMed. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in MindMed’s management’s discussion and analysis for the period from May 30, 2019, date of incorporation, to December 31, 2019, dated March 30, 2020, which is available on MindMed’s website and the company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. This news release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities of MindMed.

For further information:

Media Contact: Anna Walsh, E: mindmedpr@pacepublicrelations.com, P: 212-254-4730; or Investor Relations: invest@mindmed.co, https://www.mindmed.co.

MindMed Announces Increase in Bought Deal Offering to Approximately $11.5 MillionPress Release

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, May 06, 2020 (GLOBE NEWSWIRE) — Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF) (“MindMed” or the “Company”) is pleased to announce that it has entered into an amended letter of engagement with Eight Capital, under which Eight Capital has now agreed to purchase 21,699,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $0.53 (the “Issue Price”) for gross proceeds of $11,500,470 (the “Offering”).

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $1,725,070.50 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $13,225,540.50.

Each Unit will be comprised of one subordinate voting share of the Company (a “Subordinate Voting Share”) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Subordinate Voting Share at an exercise price of $0.79, for a period of 24 months following the closing of the Offering. If, following the closing of the Offering, the daily volume weighted average price of the Subordinate Voting Shares on the NEO Exchange is equal to or greater than $1.13 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering to fund its collaboration with University Hospital Basel’s Liechti Laboratory and for general corporate purposes.

The closing date of the Offering is scheduled to be on or about May 22, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Neo Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.  MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering and the intended use of proceeds of the Offering. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

 

For further information:
Media Contact: Anna Walsh, E:
mindmedpr@pacepublicrelations.com
P: 212-254-4730;

or

Investor Relations:
invest@mindmed.co
https://www.mindmed.co    

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO – May 5, 2020 – Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF) (“MindMed” or the “Company”) is pleased to announce that it has entered into a letter of engagement with Eight Capital, under which Eight Capital has agreed to purchase, as sole bookrunner and lead underwriter, along with a syndicate of underwriters (the “Underwriters”), 18,868,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $0.53 CAD (the “Issue Price”) for gross proceeds of $10,000,040  (the “Offering”).

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional approximately $1,500,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $11,500,040.

Each Unit will be comprised of one subordinate voting share of the Company (a “Subordinate Voting Share”) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Subordinate Voting Share at an exercise price of $0.79, for a period of 24 months following the closing of the Offering. If, following the closing of the Offering, the daily volume weighted average price of the Subordinate Voting Shares on the NEO Exchange is equal to or greater than $1.13 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering to fund its collaboration with University Hospital Basel’s Liechti Laboratory and for general corporate purposes.

The closing date of the Offering is scheduled to be on or about May 22, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Neo Exchange and the applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTCQB: MMEDF and in Germany under the symbol DE:BGHM.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, the intended use of proceeds of the Offering. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

 

For further information:

Media Contact:

Anna Walsh, E:
mindmedpr@pacepublicrelations.com
212-254-4730

or

Investor Relations:
invest@mindmed.co
https://www.mindmed.co

Company is actively developing and scaling manufacturing processes for 18-MC and LSD APIs to be used in the company’s future drug trials

April 20, 2020 New York, NY: Mind Medicine (MindMed), Inc. (NEO: MMED; OTCQB: MMEDF), the leading psychedelic pharmaceutical company, today announced the promotion of pharmaceutical industry veteran Jeanne Bonelle to Executive Vice President of Technical Operations. Ms. Bonelle is overseeing the company’s drug quality, drug manufacturing and regulatory processes.

Co-Founder and Co-Chief Executive Officer, JR Rahn said, “Any serious pursuit of psychedelic drug development requires a deep understanding of the quality, regulatory and production techniques to create current Good Manufacturing Practices (cGMP) drug products to undertake FDA clinical trials. Jeanne is a leader in this space, and this promotion acknowledges the key role that she plays within the MindMed management team.”

Ms. Bonelle has significant pharmaceutical industry expertise in supervising the quality, and regulatory processes required to produce cGMP medicines. MindMed is actively scaling and developing manufacturing processes for cGMP 18-MC and cGMP LSD to be used in the company’s clinical drug trials.

About Jeanne Bonelle

Jeanne Bonelle is a leading quality and manufacturing expert in clinical drug development. Previously, in her last four positions she established quality systems within the developmental phase for a wide range of drug products, including Senior Vice President of Global Quality at Savant HWP, Inc., Senior Director of Quality Assurance at Inhale Therapeutic Systems, Inc., (now Nektar Therapeutics, Inc.); Director of Quality Assurance at Cholestech Inc. (now Alere Inc.); Manager of Quality Assurance at BioTrack, (now a subsidiary of Roche Diagnostics GmbH); Manager of Quality Assurance at BioResponse Inc. (now Baxter Health Care).

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a micro-dosing division to conduct clinical trials of LSD micro-dosing for adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol “MMED”. MindMed can also be traded in the US under the symbol “OTCQB: MMEDF” and in Germany under the symbol “DE:BGHM”.

Cautionary Statements and Disclaimer:

This news release contains “forward-looking information” and “forward-looking statements” within the meanings of applicable securities laws, which may include, but are not limited to, statements with respect to anticipated business plans or strategies of MindMed, manufacturing activities, clinical trials that may be conducted by MindMed and/or its partners or affiliates (and the results thereof), uses and viability of MindMed’s products, anticipated legal status or approval of any of MindMed’s products (if at all), and the future business, operations or capital of MindMed. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in MindMed’s management’s discussion and analysis for the period from May 30, 2019, date of incorporation, to December 31, 2019, dated March 30, 2020, which is available on MindMed’s website and the company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. This news release is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this release is not, and under no circumstances is it to be construed as, an offer to sell or an offer to purchase any securities of MindMed