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Novamind Announces CAD$5 Million Private Placement with Institutional Investor

Novamind Announces CAD$5 Million Private Placement with Institutional Investor

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

TORONTO, ON / January 24, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, is pleased to announce that it has entered into a securities purchase agreement with a single institutional investor for a private placement of its common shares (“Common Shares”) (or Common Share equivalents) and warrants to purchase Common Shares (“Warrants”) for gross proceeds of approximately CAD$5 million (the “Private Placement”). Pursuant to the Private Placement, the Company will issue 12,500,000 Common Shares (or Common Share equivalents) and Warrants to purchase up to an aggregate of 12,500,000 Common Shares at a purchase price of CAD$0.40 per Common Share and associated Warrant. Each Warrant will entitle the holder to purchase one Common Share at an exercise price of CAD$0.50 per Common Share for a period of five years following the issuance date.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the Private Placement.

The net proceeds of the Private Placement will be used by the Company for general working capital purposes. No securities were offered or sold to Canadian residents in connection with the Private Placement. The Private Placement is expected to close on or about January 26, 2022, subject to satisfaction of customary closing conditions.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”), or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to any U.S. person absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements. “United States” and “U.S. person” have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.

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

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release, including statements regarding the Private Placement and the anticipated closing thereof and use of proceeds therefrom, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the failure to satisfy the conditions to closing of the Private Placement and other risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind to Participate in Citi’s Psychedelic Drug Video Call Series

Novamind to Participate in Citi’s Psychedelic Drug Video Call Series

TORONTO, ON / January 20, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, announced today that it will participate in Citi’s Psychedelic Drug Video Call Series to be held virtually on January 25, 2022.

Neena Bitritto-Garg, Vice President Research Analyst, Biotech, at Citi, will host Novamind’s Chief Executive Officer, Yaron Conforti and Chief Medical Officer, Reid Robison, MD, MBA, for a fireside chat at 10:00 AM ET.

“Novamind has an established track record as a leader in commercializing psychedelic medicine and other innovative mental health therapies through a growing network of clinics and hosting an exciting pipeline of clinical trials for major drug developers,” said Mr. Conforti. “I look forward to introducing Citi’s clients to Novamind and expanding our relationships with a global base of institutional investors.”

To register for the call, please contact your Citi representative directly.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Closes Arizona Acquisition

Novamind Closes Arizona Acquisition

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

TORONTO, ON / January 18, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, announces that, further to its press release dated December 23, 2021, it has closed its acquisition (the “Acquisition”) of Arizona-based Foundations for Change, Inc. (“Foundations”), a mental health practice specialized in ketamine-assisted psychotherapy.

“We’re thrilled to welcome the team from Foundations,” commented Novamind CEO and Director, Yaron Conforti. “The Acquisition is an exciting opportunity for Novamind to expand the reach of our clinic network, bringing our model for innovative mental healthcare to a new market in Arizona.”

With the closing of the Acquisition, Foundations founder Jeff Edelman, MSN, APRN, PMHNP-BC, PMHCNS-BC, assumes the role of Medical Director at the Peoria and Phoenix clinic locations.

Mr. Edelman commented: “Joining Novamind is the right fit for our team and aligns with our mission to provide innovative and compassionate mental healthcare. I would like to thank our patients, partners and community for their ongoing support over the years. We look forward to integrating our team and operations with Novamind and benefiting from its deep expertise and infrastructure as we continue to serve a growing patient population.”

In connection with the Acquisition, the Company issued 441,261 common shares in the capital of the Company (the “Shares”) pursuant to the terms of debt settlement agreements entered into with certain holders of debt of Foundations (the “Debtholders”), at a deemed price per share equal to CAN$0.468 per Share. The Shares are subject to a statutory hold period expiring on May 18, 2022 in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange. The Company also paid to the Debtholders an aggregate of US$336,955 cash. The Company’s news release dated December 23, 2021 provides additional details for the consideration payable by the Company pursuant to the Acquisition.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

Cautionary Statement
The securities of the Company referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.

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Novamind Unveils New Design Concept for Clinics

Novamind Unveils New Design Concept for Clinics

TORONTO, ON / January 5, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today unveiled its clinic design concept (the “Design Concept”) to accommodate the unique requirements of psychedelic-assisted psychotherapy. The Design Concept will launch first in Novamind’s Park City, Utah location, and later across Novamind’s de novo clinics. Select design elements and principles will be integrated within existing clinic locations.

Inclusive and welcoming, the Design Concept enhances the patient experience at Novamind clinics, prioritizing patient safety and privacy, and utilizing evidence-based therapeutic elements to optimize patient care, including:

  • Biophilic designs that mimic nature and emphasize light interplay and neutral colour theory
  • Walking paths designed to minimize disruption and traffic across the clinic, creating a sense of privacy and tranquility
  • Curved treatment spaces, representing the protective space of cocoons, to facilitate the more sedentary experience of ketamine treatment
  • Larger treatment rooms to accommodate group therapy programs and support movement and more active patient behaviours associated with MDMA, psilocybin and other psychedelic medicines when approved by the FDA

To create the Design Concept, Novamind contracted DesignAgency, an internationally recognized interior design firm with clients that include the Four Seasons Hotels, MGM Resorts, Momofuku restaurants, Soho House and others. DesignAgency worked closely with Novamind’s clinical team to incorporate a host of therapeutic considerations into the design blueprint to achieve optimal patient experiences.

“We collaborated with Novamind’s clinical team and understood the importance of ‘set and setting’ in psychedelic medicine,” said Matt Davis, Co-Founder and Principal at DesignAgency. “The goal was to create spaces that allow patients to have a holistic experience and signal hope and healing well before they walk through the door.”

Dr. Reid Robison, Chief Medical Officer at Novamind, commented: “This new concept, combined with Novamind’s standard operating procedures, creates the most welcoming and effective healing environment possible. We wanted our clinics to be comforting, inviting and calming. With guidance from the DesignAgency team, we now have the blueprint to create spaces that elevate our patients’ healing experience.”

To see renderings of the Design Concept, click here.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

About DesignAgency
DesignAgency is an award-winning international design studio that draws on over two decades of expertise in interior design, architectural and landscape concepting, strategic branding, and visual communications. With studios in Toronto, Washington, D.C., Los Angeles and Barcelona, DesignAgency has developed a global reputation for creating exceptional environments that people experience fully and deeply. Key to our success is the strength of collaboration. Our talented design teams are informed by curiosity, international perspectives, and a drive for innovation. Working across hospitality, residential, commercial, and retail sectors, we work with our clients and with local and international artists, craftspeople, and suppliers to realize extraordinary experiences and lasting value.

Contact Information
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: ir@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Partners with Uruguay-Based Bienstar Wellness to Develop Latin America’s First Integrative Mental Health Clinic Network

Novamind Partners with Uruguay-Based Bienstar Wellness to Develop Latin America’s First Integrative Mental Health Clinic Network

Novamind (NM) partnered with Bienstar Wellness to develop the first network of integrative mental health clinics in Latin America. The companies plan to bring psychedelic medicine to Uruguay, Brazil, Mexico, Peru, and Panama.

PDF of Article

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Novamind Reports Fiscal Q1 Financial Results and Operating Highlights

Novamind Reports Fiscal Q1 Financial Results and Operating Highlights

  • Multistate expansion underway, signed LOI to acquire Arizona-based mental health practice
  • Total revenue of $1,857,750, +113% when compared to same period last year
  • Total working capital of $6,834,011 to fund operations

 

TORONTO, ON / November 29, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, reported its fiscal first quarter results for the three months ended September 30, 2021 (“Fiscal Q1 2022”). All results are reported under International Financial Reporting Standards and in Canadian dollars, unless otherwise specified.

“Q1 was a strong start to fiscal year 2022, driven by the addition of another clinic to our network and increased patient demand for our comprehensive range of innovative mental health treatments,” said Yaron Conforti, Novamind’s CEO and Director. “We continue to make progress on our national clinic expansion, most recently with a letter of intent to acquire two locations in Arizona. Our clinical research business has been actively building an exciting pipeline of contracts with leading drug developers.”

Fiscal Q1 2022 Operating Results and Subsequent Events

  • Signed letter of intent (“LOI”) to acquire Arizona-based mental health practice, Foundations for Change, the first announcement from a pipeline of accretive transactions
  • Leased new clinic to meet patient demand in Utah, the Wheeler Park Clinic, scheduled to open in early 2022
  • Opened a new clinic and third research site in Murray, Utah, featuring a new specialized care and research program, Psychedelic Palliative Care by Novamind
  • Secured insurance coverage for direct billing of intravenous ketamine for treatment-resistant depression from four major health insurance providers: Blue Cross Blue Shield, the University of Utah, PEHP Health & Benefits and MBA Benefit Administrators
  • Unveiled new Company logo and announced rebrand of all subsidiary clinics and research sites

Fiscal Q1 2022 Financial Highlights

  • Total revenue of $1,857,750, +113% when compared to same period last year
  • Debt-free balance sheet with $5,969,673 in cash and $2,018,971 in marketable securities
  • Total working capital of $6,834,011 to fund operations

The following table presents selected financial information from Novamind’s reviewed condensed interim financial statements for the three months ended September 30, 2021. The following information should be read in conjunction with the financial statements and management’s discussion and analysis, which are available under Novamind’s SEDAR profile at www.sedar.com.

Q1 2022

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Unveils New Logo and Invests in Unified Brand

Novamind Unveils New Logo and Invests in Unified Brand

TORONTO, ON / November 24, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today launched a new logo and announced that the Company will unite its subsidiaries and brands under a single Novamind brand.

Novamind is investing in a revitalized and unified brand following a year of significant growth including expansion into new states, launching new clinics and research sites and bringing to market several innovative mental health care offerings.

Novamind Logo

Novamind’s new logo is now live on its corporate website and social media platforms. The logo integrates and flows across all digital and physical properties, and represents Novamind’s core beliefs in hope, healing and transformation. The open doorway at the centre of the logo, working in conjunction with the radiating lines, is an invitation towards an improved way of life—one where taking care of mental health is a priority.

The logo reveal kicks off the multi-phase rebrand of the Company’s network of clinics and research sites, expected to be complete in 2022. The Company is also improving its website to scale alongside its growth strategy and better serve diverse audiences with enhanced content and tools. Taking inspiration from the revitalized logo, the website will provide an accessible digital entry point to Novamind’s world-class care and clinical research offerings.

Yaron Conforti, CEO and Director, commented: “The new logo, rebrand and website reflects our rapid evolution over the last year. It’s an exciting opportunity to unify our current and future assets under one unique identity that will become a trusted and recognized name for innovative mental healthcare in communities across the U.S.”

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Novamind Signs LOI to Acquire Two Mental Health Clinics in Arizona

Novamind Signs LOI to Acquire Two Mental Health Clinics in Arizona

TORONTO, ON / November 16, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today announced that it has signed a Letter of Intent (“LOI”) to acquire Foundations for Change, an Arizona-based company with two outpatient mental health clinics specialized in ketamine-assisted psychotherapy (the “Arizona Acquisition”). The Arizona Acquisition represents Novamind’s first clinics outside the state of Utah, and the first announcement from a pipeline of accretive transactions that will expand the Company’s network of clinics in the U.S. and globally.

Foundations for Change was opened in 2017 by Jeff Edelman, a Yale University graduate, and a double board-certified Family Psychiatric-Mental Health Nurse Practitioner and a Child and Adolescent Psychiatric-Mental Health Clinical Nurse Specialist. Mr. Edelman’s practice is located northwest of Phoenix and offers novel therapeutic options including transcranial magnetic stimulation (TMS), ketamine-assisted psychotherapy and Spravato. Mr. Edelman has 17 years of leadership experience providing the highest quality of care to children, adolescents, adults, military, first responders and their families.

“This is an exciting step towards our vision to expand access to psychedelic medicine across the United States,” said Yaron Conforti, Novamind CEO and Director. “Mr. Edelman has built a reputable practice in Arizona and both clinics will benefit from Novamind’s operational and administrative support and leading-edge clinical resources.”

The Arizona Acquisition is expected to close in early 2022.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.