Mindset Pharma Engages KCSA Strategic Communications to Provide Investor Relations Services

Toronto, Ontario–(Newsfile Corp. – April 28, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) announces that it has entered into an agreement with KCSA Strategic Communications (“KCSA“) to provide investor relations services effective as of May 15, 2021. KCSA is a fully integrated communications consultancy with a creative and strategic approach to public relations, investor relations and social media. Mindset’s agreement with KCSA has an initial term of six months, for a monthly fee of USD$11,500, and continues thereafter on a month-to-month basis. The agreement may be terminated with 90 days written notice by either party following the conclusion of the initial six-month term.

“KCSA is excited to partner with the management team of Mindset to help increase investor awareness of this very exciting CNS focused drug development company. As a firm dedicated to supporting the medical psychedelics industry, KCSA is well versed in the sector and is confident the underlying science of psychedelic compounds holds great promise in treating a variety of psychiatric disorders. The goal of Mindset is to address the dearth of existing treatment options to effectively treat mental illnesses, including depression and PTSD; KCSA applauds these efforts,” commented Jeffrey Goldberger, Managing Partner and Principal of KCSA Strategic Communications.

For further information, along with a video overview of Mindset, please visit our website at: www.mindsetpharma.com.

CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com

Timothy Regan
VP, Capital Markets
MindSet@KCSA.com
347-487-6788

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma Invited to Present at H.C. Wainwright “Psychedelics in Psychiatry and Beyond” Virtual Conference

Toronto, Ontario–(Newsfile Corp. – April 26, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that it has been invited to present at the H.C. Wainwright “Psychedelics In Psychiatry and Beyond” Virtual Conference being held on June 17, 2021.

James Lanthier, CEO of Mindset, commented, “Mindset is pleased to be invited to present at H.C. Wainwright’s conference. Mindset has expanded its next generation drug program to four distinct families of novel, patent-pending compounds with the goal of creating optimized therapeutics for a range of treatment modalities and indications. We are excited to share the Mindset story with a broader investor audience and thank H.C. Wainwright for the invitation.”

In addition, the Company announces that the Company’s board of directors have approved the settlement of an aggregate of $113,000 of indebtedness (the “Debt Settlement“) to a certain arm’s length creditor of the Company, such that the Company proposes to issue 176,562 common shares (each a “Common Share“) of the Company at a deemed price of $0.64 per Common Share in full and final satisfaction of such indebtedness. The issuance of the Common Shares in connection with the Debt Settlement is subject to approval of the Canadian Securities Exchange. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance.

The Company would also like to announce the launch of a new comprehensive investor communications program pursuant to which the Company has engaged CDMG Inc., to develop and execute the investors communications program and to provide marketing services focusing on North America.

For further information, along with a video overview of Mindset, please visit our website at: www.mindsetpharma.com.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
jlanthier@mindsetpharma.com

Jason Atkinson
Corporate Development
jatkinson@mindsetpharma.com

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds.
www.mindsetpharma.com

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma Announces Strong Confirmation of In Vivo Proof-of-Concept Across Its Entire New Drug Program Portfolio

Toronto, Ontario–(Newsfile Corp. – April 20, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce, that based on data derived from Mindset’s in vivo testing program (i.e. testing in animal subjects) carried out by InterVivo Solutions Inc., the Company has confirmed that the majority of its patent pending compounds across four families of chemical scaffolds are exhibiting favourable effects in vivo in models established as having a high correlation to psychedelic effects in humans.

As a result of the promising data derived from Mindset’s in vivo program, the Company has now identified a substantial pool of differentiated proprietary compounds with strong psychedelic effects confirmed in vivo from which to select lead drug candidates to move to investigational new drug-enabling (“IND-enabling“) studies. To date, the Company has tested 19 compounds in vivo, and 15 of such compounds have been shown to elicit the head twitch response in mice, which is a well-established behavioural marker of 5-HT2A agonism and is associated with producing a psychedelic effect in humans. Achieving this high success rate in preclinical drug studies is considered by Mindset’s management and scientific advisory board as being an extraordinary accomplishment and is reflective of Mindset’s drug design and behavioural assessment capabilities. In addition, the consistency between the Company’s in vitro and in vivo data is a substantial validation for Mindset’s in vitro screening protocols.

Malik Slassi, Mindset’s Senior VP of Innovation commented, “We are pleased to see such a consistently high rate of success from our in vivo screening program which has encompassed a range of rodent phenotypic screening to elucidate functional agonist properties at the 5-HT2A receptor studies. As we screen additional compounds from our newer psychedelic drug families, our preclinical studies continue to yield positive results. Mindset is well positioned to select promising lead drug candidates to advance into IND-enabling studies from a strong pool of novel compounds. These include not only Family 1 and Family 2, which are emerging as strong acting psilocybin analogs, but Family 3 and Family 4, which Mindset continues to develop and characterize.”

To determine 5-HT2A receptor activity in vivo, the Company has performed mouse head twitch assays, and plans to conduct rat behavioural testing and rat drug discrimination testing. In addition to providing evidence of functional agonist properties at the 5-HT2A receptor, these tests also provide insights into potency, central nervous system penetration, oral bioavailability, duration of action, hallucinogenic properties, as well as some insights into safety. Several of the compounds performed favourably on all of currently tested metrics and are demonstrating promising physical-chemical property profiles for development as oral drugs for central nervous system disorders. Additionally, the Company has confirmed 5-HT2A activity by administering a selective 5-HT2A antagonist, M-100,907, and confirming that it blocks the mouse head twitch response.

James Lanthier, Chief Executive Officer of Mindset, added: “Once Mindset has completed in vivo screening of its compounds, the most promising candidate from each family will be selected as a lead and will then progress into IND-enabling studies. The Company anticipates selecting an initial lead candidate shortly and plans to complete IND-enabling studies by mid-2022.”

Management of Mindset wishes to caution readers that any statements regarding its novel psychedelic drug candidate compounds are based on preliminary testing data and the clinical success of such compounds is speculative in nature. For more complete and specific information regarding the Company, its prospects and the risks associated with those prospects, readers should consult the Company’s website and other reliable sources.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
jlanthier@mindsetpharma.com

Jason Atkinson
Corporate Development
jatkinson@mindsetpharma.com

About Mindset Pharma

Mindset Pharma is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma Announces Exercise of Over-Allotment Option for Additional Gross Proceeds of $1.052 Million

Toronto, Ontario–(Newsfile Corp. – April 19, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that in connection with its previously announced “bought deal” public offering (the “Offering“) underwritten by Canaccord Genuity Corp. (the “Lead Underwriter“), as lead underwriter and sole bookrunner, along with Stifel Nicolaus Canada Inc. and Cormark Securities Inc. (collectively with the Lead Underwriter, the “Underwriters“), the Underwriters have partially exercised their over-allotment option (the “Over-Allotment Option“), purchasing an additional 1,403,598 units (each, an “Over-Allotment Unit“) of the Company at a price of $0.75 per Over-Allotment Unit (the “Issue Price“) for aggregate gross proceeds to the Company of $1,052,699.

Each Over-Allotment Unit consists of one common share in the capital of the Company (each, a “Unit Share“) and one common share purchase warrant of the Company (each, a “Warrant“). Each Warrant will entitle the holder thereof to purchase one common share in the capital of the Company (each, a “Warrant Share“) at an exercise price of $1.10 per Warrant Share at any time until 5:00 p.m. (Toronto time) on April 15, 2024, subject to adjustment in certain events and subject to the terms of a warrant indenture (the “Warrant Indenture“) dated April 15, 2021 between the Company and Computershare Investor Services Inc., as warrant agent.

The Warrants issued in connection with the exercise of the Over-Allotment Option will be listed on the Canadian Securities Exchange under the symbol “MSET.WT”.

In respect of the Offering, the units issued on April 15, 2021 and the Over-Allotment Units issued today in connection with the exercise of the Over-Allotment Option were offered by way of a short form prospectus dated April 12, 2021 filed in all of the provinces of Canada, except Québec.

The net proceeds of the Offering will be used for the expansion of Mindset’s current pipeline of propriety compounds, further pre-clinical testing of its current compounds, advancement of Mindset’s psilocybin synthesis process, formulation development chemistry and for general working capital purposes.

The securities offered have not been registered under the U.S. 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. 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com
647-938-5266

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as “will”, “intends”, “scheduled”, “to be” and “may be” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding the intended use of the net proceeds of the Offering. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the receipt of all necessary regulatory and other approvals or consents; the ability of the Company to successfully implement its strategic plans and initiatives and whether such strategic plans and initiatives will yield the expected benefits; approvals and authorizations from regulatory authorities, and the timing thereof. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: conditions in the psychedelic pharmaceutical industry; fluctuations in market conditions, including in securities markets; economic factors; the ability of management to execute its business strategy, objectives and plans; and the impact of general economic conditions and the COVID-19 pandemic in Canada. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Mindset Pharma Announces Closing of $7.5 Million Bought Deal Public Offering

Toronto, Ontario–(Newsfile Corp. – April 15, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that it has completed the previously announced “bought deal” public offering through the issuance of an aggregate of 10,000,000 units (each, a “Unit“) of the Company at a price of $0.75 per Unit (the “Issue Price“) for aggregate gross proceeds to the Company of $7,500,000 (the “Offering“). The Units were issued and sold pursuant to the terms of an underwriting agreement dated March 25, 2021, among the Company, Canaccord Genuity Corp. (the “Lead Underwriter“), as lead underwriter and sole bookrunner, along with Stifel Nicolaus Canada Inc. and Cormark Securities Inc. (collectively with the Lead Underwriter, the “Underwriters“).

Each Unit consists of one common share of the Company (each, a “Unit Share“) and one common share purchase warrant of the Company (each, a “Warrant“). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share“) at an exercise price of $1.10 per Warrant Share at any time until 5:00 p.m. (Toronto time) on the date that is 36 months following the closing date of the Offering (the “Closing Date“), subject to adjustment in certain events and subject to the terms of a warrant indenture (the “Warrant Indenture“) dated April 15, 2021 between the Company and Computershare Investor Services Inc., as warrant agent.

In addition, the Company has applied to list the Warrants issued in connection with the Offering on the Canadian Securities Exchange (“CSE“) under the symbol “MSET.WT”. The Company anticipates that the Warrants will commence trading on the CSE at the open of market on or about Friday, April 17, 2021. The listing of the Warrants on the CSE remains subject to receipt of all necessary regulatory approvals, including the approval of the CSE.

The Company has granted the Underwriters an option (the “Over-Allotment Option“) to purchase up to an additional 1,500,000 Units (the “Over-Allotment Units“) at the Issue Price, to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option is exercisable at any time, in whole or in part, for a period of thirty (30) days after and including the Closing Date, which, if exercised in full, would result in additional gross proceeds of $1,125,000 to the Company.

In respect of the Offering, the Units (including the Over-Allotment Units issuable upon exercise of the Over-Allotment Option, as applicable) were offered by way of a short form prospectus dated April 12, 2021 filed in all of the provinces of Canada, except Québec.

As consideration for their services to be provided in connection with the Offering, the Underwriters received a cash commission equal to 7.0% of the gross proceeds of the Offering and such number of broker warrants of the Company (the “Underwriters’ Warrants“) as is equal to 7.0% of the number of Units sold pursuant to the Offering. Each Underwriters’ Warrant entitles the holder thereof to acquire one Unit at the Issue Price for a period of thirty-six (36) months from the Closing Date.

The net proceeds of the Offering will be used for the expansion of Mindset’s current pipeline of propriety compounds, further pre-clinical testing of its current compounds, advancement of Mindset’s psilocybin synthesis process, formulation development chemistry and for general working capital purposes.

The securities offered have not been registered under the U.S. 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. 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com

647-938-5266

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as “will”, “intends”, “scheduled”, “to be” and “may be” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the filing of the short form prospectus in each of the provinces of Canada (except Québec); the completion of the Offering, the intended use of the net proceeds therefrom, and the anticipated closing date thereof; that the Units may be offered in jurisdictions outside of Canada. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the receipt of all necessary regulatory and other approvals or consents; the ability of the Company to successfully implement its strategic plans and initiatives and whether such strategic plans and initiatives will yield the expected benefits; approvals and authorizations from regulatory authorities, and the timing thereof. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: conditions in the psychedelic pharmaceutical industry; fluctuations in market conditions, including in securities markets; economic factors; the ability of management to execute its business strategy, objectives and plans; and the impact of general economic conditions and the COVID-19 pandemic in Canada. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Mindset Pharma Expands Scientific Team: Dr. Malik Slassi Appointed Senior VP Innovation and Ian Dean Appointed Director Preclinical Development

Toronto, Ontario–(Newsfile Corp. – March 30, 2021) – Mindset Pharma Inc. (CSE: MSET) (OTCQB: MSSTF) (FSE: 9DF) (“Mindset” or the “Company“), a drug discovery and development company focused on developing next generation psilocybin and N,N-Dimethyltryptamine (DMT) inspired medicines and related technologies, is pleased to announce that it has expanded its scientific leadership team with the appointment of Dr. Malik Slassi as Senior Vice President of Innovation in a full time capacity and the appointment of Mr. Ian Dean as Director of Preclinical Development.

As an originating member of Mindset’s Scientific Advisory Board, Dr. Slassi is the architect of the Company’s portfolio of novel and differentiated psychedelic drug families, along with the Company’s patent pending psilocybin synthesis process. Dr. Slassi has over 30 years of experience in successful identification and development of small molecule drug candidates across multiple therapeutic areas and a record of numerous successes in medicinal chemistry, with approximately 24 drugs advanced into late-stage preclinical development, clinical development, and introduction into the pharmaceutical market. Prior to joining Mindset, Dr. Slassi was Senior Vice President of Discovery Research at Trillium Therapeutics Inc., which he joined following the successful sale to Trillium Therapeutics Inc. of Fluorinov Pharma Inc., a medicinal chemistry platform company of which Dr. Slassi was the founder, President and Chief Scientific Officer. Dr. Slassi holds a Ph.D. in Chemistry from the University of Claude Bernard, Lyon, France. He completed his postdoctoral work in the Chemistry Department at the University of Montreal, Canada, and has held management and scientific leadership positions with several recognized multinational pharmaceutical companies.

Dr. Slassi commented: “Mindset is one of the few truly innovative discovery research and development engines in the emerging medical psychedelic field, which represents a promising potential commercial opportunity in the treatment of mental health disorders. I am pleased to contribute to our leadership team as we focus on strengthening Mindset’s patent portfolio of novel products. Mindset’s strategy of maximizing the value of its pipeline through clinical validation has the potential to transform the patient journey in managing a range of mental health indications.”

James Lanthier, Chief Executive Officer of Mindset, commented: “We are thrilled to have Dr. Slassi join Mindset on a full-time basis. Malik’s insights into drug design and medicinal chemistry as they apply to the serotonergic system and the central nervous system are formidable and given the timing of our innovations, Mindset is well positioned to continue to play a pioneering role in developing next generation, novel psychedelic medications.

Additionally, Mindset is pleased to welcome Ian Dean as Director, Preclinical Development. Ian is a seasoned toxicologist and pharmacology professional with over 40 years of intensive expertise in drug development. Mr. Dean has served in the roles of VP Business Development and Toxicology as well as Chief Scientific Officer for several organizations providing investigational new drug-enabling and clinical development services to global pharmaceutical clients. Mr. Dean is a Diplomate of the American Board of Toxicology and the Institute of Biology in Toxicology as well as a European Registered Toxicologist. Mr. Dean will assist Mindset in advancing its lead compounds through investigational new drug-enabling studies into clinical programs.”

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com
647-938-5266

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma and InterVivo Solutions to Jointly Develop Advanced Cooperative Psychedelics Evaluation Platform (“Cope”); Cope Expected to Be World’s First in Vivo Psychedelic Benchmark Data Set

Toronto, Ontario–(Newsfile Corp. – March 23, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“), a biotechnology company focused on developing next generation psychedelic medicines and related technologies, is pleased to announce that it has entered a co-development agreement with InterVivo Solutions Inc. (“InterVivo” or “IVS“), to co-develop a new translational testing platform that Mindset and InterVivo expect will introduce an industry standard against which the performance and efficacy of breakthrough psychedelic medicines are compared and assessed.

Management of each of Mindset and InterVivo believe that the psychedelic pharma industry will benefit greatly from a standardized reference data set to identify and develop medicines with enhanced therapeutic benefit and improved safety and pharmacological profiles. Mindset and InterVivo intend to establish the first comprehensive psychedelics benchmark reference data set by evaluating a broad range of psychedelic drugs through a proprietary program of in vivo tests conducted at InterVivo’s facility. It is anticipated that the Co-operative Psychedelics Evaluation Platform (“COPE“) will be an invaluable tool to guide the development of next-generation psychedelic compounds and improve patentability and value in new molecule drug assets. Mindset and InterVivo intend to make COPE available to InterVivo’s clients who are pursuing psychedelics drug development projects; with first data compilations to be available on or before June 12, 2021.

The project will be co-led by IVS’s Chief Scientific Officer, Dr. Guy Higgins, and VP R&D, Dr. Inés de Lannoy, and will focus on establishing both pharmacological and pharmacokinetics data sets using sophisticated behavioural assays as well as state-of-the art in vivo sampling and analytical techniques. Mindset will co-sponsor the project and will incorporate the testing technology and data sets into their own lead optimization programs.

Dr. Guy Higgins, Ph.D., Chief Scientific Officer of InterVivo and a Scientific Advisory Board member of Mindset, commented, “To design better and safer drugs, we must carefully establish the limitations of the current psychedelics. The combination of our behavioural pharmacology, pharmacokinetic and early (non-GLP) safety expertise puts us in an excellent position to characterise these for the purpose of identifying improved molecules, both for standard-dosing and micro-dosing purpose. Our vision is to bring significant value to our sponsors who are active in this field, with the ultimate goal of delivering next generation medicines to benefit both patients and practitioners.”

James Lanthier, CEO of Mindset commented, “We are excited to partner with InterVivo in this innovative initiative. We believe that the COPE platform will be a unique asset and will create significant value for the emerging psychedelics drug development market. We expect that the data from COPE will help both Mindset and the broader psychedelics field to identify specific pharmacological improvements, strengthen intellectual property rights, and achieve key development milestones in a more efficient and cost-effective manner.”

CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds. www.mindsetpharma.com

About InterVivo Solutions

InterVivo Solutions (IVS) is Canada’s top neuroscience contract research organization, offering translational research services with a focus on next-generation neuroscience drug discovery. IVS offers in vivo proof of concept efficacy, drug metabolism, pharmacokinetics and early safety research studies for a global client base.

www.intervivo.com

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma Announces Upsize of Bought Deal to $7.5 Million

TORONTO, March 22, 2021 /CNW/ – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that in connection with its previously announced bought deal public offering, the Company and Canaccord Genuity Corp., as sole bookrunner and lead underwriter (the “Lead Underwriter“), on behalf of a syndicate of underwriters (together with the Lead Underwriter, the “Underwriters“), have agreed to increase the size of the offering. The Company will now issue an aggregate of 10,000,000 units of the Company (each, a “Unit“) at a price of $0.75 per Unit (the “Issue Price“) for aggregate gross proceeds to the Company of $7,500,000 (the “Offering“).

Each Unit shall consist of one common share in the capital of Mindset (each, a “Common Share“) and one Common Share purchase warrant of Mindset (each, a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $1.10 per Common Share for a period of thirty-six (36) months from the Closing Date (as defined herein).

The Company has granted the Underwriters an option (the “Over-Allotment Option“) to purchase up to an additional 1,500,000 Units (the “Over-Allotment Units“) at the Issue Price, to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option is exercisable at any time, in whole or in part, for a period of thirty (30) days after and including the Closing Date (as defined herein), which, if exercised in full, would result in additional gross proceeds of $1,125,000 to the Company.

As consideration for their services to be provided in connection with the Offering, the Underwriters will receive a cash commission equal to 7.0% of the gross proceeds of the Offering and such number of broker warrants of the Company (the “Underwriters’ Warrants“) as is equal to 7.0% of the number of Units sold pursuant to the Offering. Each Underwriters’ Warrant shall entitle the holder thereof to acquire one Unit at the Issue Price for a period of thirty-six (36) months from the Closing Date (as defined herein).

The Units (including the Over-Allotment Units issuable upon exercise of the Over-Allotment Option) will be offered by way of a short form prospectus to be filed in all Provinces of Canada, except Quebec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Offering is expected to close on or about April 8, 2021 (the “Closing Date“), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange and the applicable regulatory authorities.

The net proceeds of the Offering will be used for the expansion of Mindset’s current pipeline of propriety compounds, further pre-clinical testing of its current compounds, advancement of Mindset’s psilocybin synthesis process, formulation development chemistry and for general working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as “will”, “intends”, “scheduled”, “to be” and “may be” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the filing of the short form prospectus in each of the provinces of Canada (except Québec); the completion of the Offering, the intended use of the net proceeds therefrom, and the anticipated closing date thereof; that the Units may be offered in jurisdictions outside of Canada. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to complete the Offering on acceptable terms or at all; the receipt of all necessary regulatory and other approvals or consents; the ability of the Company to successfully implement its strategic plans and initiatives and whether such strategic plans and initiatives will yield the expected benefits; approvals and authorizations from regulatory authorities, and the timing thereof. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: conditions in the psychedelic pharmaceutical industry; fluctuations in market conditions, including in securities markets; economic factors; the risk that the Offering will not be completed as anticipated or at all, including the risk that the Company will not receive the approvals necessary in connection with the Offering; the ability of management to execute its business strategy, objectives and plans; and the impact of general economic conditions and the COVID-19 pandemic in Canada. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma Announces $5 Million Bought Deal Financing

TORONTO, March 22, 2021 /CNW/ – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as sole bookrunner and lead underwriter (the “Lead Underwriter“) pursuant to which the Lead Underwriter has agreed, on behalf of a syndicate of underwriters (together with the Lead Underwriter, the “Underwriters“), to purchase, on a “bought deal” basis pursuant to the filing of a short form prospectus, an aggregate of 6,670,000 units of the Company (each, a “Unit“) at a price of $0.75 per Unit (the “Issue Price“) for aggregate gross proceeds to the Company of $5,002,500 (the “Offering“).

Each Unit shall consist of one common share in the capital of Mindset (each, a “Common Share“) and one Common Share purchase warrant of Mindset (each, a “Warrant“). Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $1.10 per Common Share for a period of thirty-six (36) months from the Closing Date (as defined herein).

The Company has granted the Underwriters an option (the “Over-Allotment Option“) to purchase up to an additional 1,000,500 Units (the “Over-Allotment Units“) at the Issue Price, to cover over-allotments, if any, and for market stabilization purposes. The Over-Allotment Option is exercisable at any time, in whole or in part, for a period of thirty (30) days after and including the Closing Date (as defined herein), which, if exercised in full, would result in additional gross proceeds of $750,375 to the Company.

As consideration for their services to be provided in connection with the Offering, the Underwriters will receive a cash commission equal to 7.0% of the gross proceeds of the Offering and such number of broker warrants of the Company (the “Underwriters’ Warrants“) as is equal to 7.0% of the number of Units sold pursuant to the Offering. Each Underwriters’ Warrant shall entitle the holder thereof to acquire one Unit at the Issue Price for a period of thirty-six (36) months from the Closing Date (as defined herein).

The Units (including the Over-Allotment Units issuable upon exercise of the Over-Allotment Option) will be offered by way of a short form prospectus to be filed in all Provinces of Canada, except Quebec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The Offering is expected to close on or about April 8, 2021 (the “Closing Date“), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange and the applicable regulatory authorities.

The net proceeds of the Offering will be used for the expansion of Mindset’s current pipeline of propriety compounds, further pre-clinical testing of its current compounds, advancement of Mindset’s psilocybin synthesis process, formulation development chemistry and for general working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as “will”, “intends”, “scheduled”, “to be” and “may be” and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the filing of the short form prospectus in each of the provinces of Canada (except Québec); the completion of the Offering, the intended use of the net proceeds therefrom, and the anticipated closing date thereof; that the Units may be offered in jurisdictions outside of Canada. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to complete the Offering on acceptable terms or at all; the receipt of all necessary regulatory and other approvals or consents; the ability of the Company to successfully implement its strategic plans and initiatives and whether such strategic plans and initiatives will yield the expected benefits; approvals and authorizations from regulatory authorities, and the timing thereof. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ materially from those currently anticipated due to a number of factors and risks including, but not limited to: conditions in the psychedelic pharmaceutical industry; fluctuations in market conditions, including in securities markets; economic factors; the risk that the Offering will not be completed as anticipated or at all, including the risk that the Company will not receive the approvals necessary in connection with the Offering; the ability of management to execute its business strategy, objectives and plans; and the impact of general economic conditions and the COVID-19 pandemic in Canada. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Mindset Pharma Announces DTC Eligibility for OTCQB Venture Listing

Toronto, Ontario–(Newsfile Corp. – March 17, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“), a drug discovery and development company focused on developing next generation psilocybin-inspired medicines and related technologies, is pleased to announce that it has received confirmation of eligibility from The Depository Trust Company (“DTC“) for electronic settlement and transfer of its common shares in the United States. The Company’s common shares are currently listed and posted for trading on the OTCQB® Venture Market (the “OTCQB“) under the symbol “MSSTF” and will continue to trade on the Canadian Securities Exchange under the symbol “MSET” as well as on the Frankfurt Stock Exchange under the symbol “9DF”.

DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. DTC eligibility incorporates an electronic method of clearing securities that speeds up the receipt of stock and cash. This reduces costs and accelerates the settlement process for investors and brokers, allowing the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their clearing and settlement requirements.

James Lanthier, CEO of Mindset commented, “DTC eligibility will provide current and prospective shareholders of Mindset with a reliable, cost-efficient, and timely method for clearing and settlement of Mindset’s common shares. With the Company’s common shares being DTC eligible, we expect this to lead to greater liquidity and execution speeds, as well as Mindset’s common shares being accessible to an even broader range of investors.”

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com

About Mindset Pharma Inc.

Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds. www.mindsetpharma.com

Forward-Looking Information

This news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.