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Which company will develop a dementia treatment first?

MYND Life Sciences Signs Agreement to Acquire Rights for the Use of Psychedelics to Treat Alzheimer’s Disease and other Dementias

If treatments don’t improve, the number of Americans battling Alzheimer’s is expected to nearly triple by 2050, reaching $1.1 trillion in care costs.

Fortunately, two more companies joined the race to develop a new treatment using psychedelics!

On Tuesday, MYND Life Sciences (MYND) acquired IP rights from Cava Healthcare Inc. for dementia treatments using psilocybin and other psychedelics. It received the assets in exchange for 450,000 shares at $0.85 each, plus $120,000 and an annual royalty fee.

Silo Pharma Inc. (SILO) also joined the race this week through a sponsored research agreement. The company will work with Columbia University to develop a psychedelic treatment that could halt or reverse Alzheimer’s.

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MYND Life Sciences Signs Agreement to Acquire Rights for the Use of Psychedelics to Treat Alzheimer’s Disease and other Dementias

MYND Life Sciences Signs Agreement to Acquire Rights for the Use of Psychedelics to Treat Alzheimer’s Disease and other Dementias

Acquisition will strengthen MYND’s psilocybin-assisted medicinal and diagnostics capabilities, adding novel psychedelics for the treatment of dementia, including Alzheimer’s disease.

VANCOUVER, BC, Oct. 27, 2021 /CNW/ – MYND Life Sciences Inc. (“MYND”) (CSE: MYND) (OTC: MYNDF) is pleased to announce it has entered into an agreement to acquire the right, title and interest in and to the intellectual property rights for the use of psychedelics to treat Dementia (the “Acquired Assets”) from Cava Healthcare Inc. (“Cava”), a life sciences company based in Surrey, British Columbia. The acquisition includes all future worldwide rights relating to the use of psychedelics to treat Alzheimer’s disease and other dementias.

Under the agreement, the consideration to be paid by MYND to Cava for the Acquired Assets shall be 450,000 common shares of the Buyer (“Shares”) at a deemed price of $0.85 per Share and $120,000. In addition, MYND shall pay to Cava an annual royalty equal to the greater of: (i) $240,000; or (ii) 4% of the net sales of any product or service which directly or indirectly incorporates the Acquired Assets to any third party.

The closing of the purchase and sale of the Acquired Assets is conditional upon MYND obtaining conditional approval of Canadian Securities Exchange for the listing of the Shares.

Dementia is a devastating neurodegenerative condition that leads to severe cognitive decay in older populations and worsens with age. The World Health Organization estimates that between 44 and 50 million people worldwide suffer from dementia. The estimated cost of caring for people with dementia, including Alzheimer’s Disease, in the USA alone, was a staggering $305 billion in 2020 (source: Alzheimer’s Association) and is expected to reach $1.1 trillion by 2050. The number of Americans living with Alzheimer’s disease is predicted to nearly triple by 2050 unless improvements in medical care are made. MYND intends to be at the forefront of these advances.

“Dementia, including Alzheimer’s disease, touch almost all families in some way, usually with very dramatic and emotionally painful consequences,” explains Dr. Lyle Oberg, MD, CEO of MYND. “As we continue to draw the enthusiasm of investors, we are able to take tangible steps towards moving beyond preclinical and into clinical work with our research team.”

The acquisition is a key landmark for MYND and it builds upon MYND’s significant experience in the psilocybin-assisted psychotherapy sector, including methods for treatment-resistant depression, under the leadership of Dr. Lyle Oberg, MD, MYND CEO.

Mr. Theo Warkentin, Cava CEO, stated, “MYND is an innovative industry leader in psychedelic psychotherapy, therapeutics and diagnostics. The company is uniquely positioned to pursue the effectiveness of psilocybin and other psychedelics for treating dementias.”

ABOUT MYND LIFE SCIENCES INC.

MYND Life Sciences Inc. is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property. For more information and to subscribe to MYND’s mailing list, please visit https://myndsciences.com/contact/.

CONTACT INFORMATION
Dr. Lyle Oberg, MD, CEO
Email: ir@myndsciences.com
Web: www.myndsciences.com

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or 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 or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

SOURCE Mynd Life Sciences Inc.

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Therapy is hard…but drugs help!

Patients with treatment-resistant depression (TRD) often struggle with impairments of concentration, mood and motivation that can make therapy challenging or unsuccessful. Can psilocybin’s immediate mood-boosting effect enhance engagement in therapy?
Monash University is seeking funding from the Australian government for a proposed 2b clinical trial that would reveal the answer.
The study would use proprietary biomarker technology developed by MYND Diagnostics Inc., a subsidiary of MYND Life Sciences (MYND), to monitor blood indicators of the subjects’ response, progress, and any relapsing to the psilocybin treatments. If successful, a multi-site phase 3 adaptive trial would follow within a year of completion to get psilocybin-assisted therapy approved by the Therapeutic Goods Association.
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MYND Diagnostics Inc. Announces Participation in a Monash University (Australia) Proposal for $3 Million Clinical Trial

MYND Diagnostics Inc. Announces Participation in a Monash University (Australia) Proposal for $3 Million Clinical Trial

 Evaluating the efficacy of psilocybin-assisted psychotherapy in treatment resistant depression

VANCOUVER, BC, Oct. 13, 2021 /CNW/ – MYND Diagnostics Inc., a wholly-owned subsidiary of MYND Life Sciences (CSE: MYND) (OTC: MYNDF) is pleased to announce that the Company’s proprietary biomarker test technology will be a pivotal component of a proposed clinical trial seeking partial funds from a $15 million fund allocated by the Australian government.

The proposed project will directly address the desired outcomes by conducting an adaptive dose finding single phase 2b clinical trial of the efficacy and safety of psilocybin assisted psychotherapy (“PAP”) in the treatment of people diagnosed with treatment resistant depression (“TRD”). MYND Diagnostics’ suite of proprietary biomarkers will be utilized in the trials to assess and then monitor blood indicators of trial subjects’ response, progress, and any relapsing to the psilocybin treatments administered in the trials.

The project team will be led by Professor Paul Fitzgerald, of Monash University with 7 scientific collaborators from Monash University, Deakin University and the University of Sydney.  Dr. Fitzgerald is  Director of the Epworth Centre for Innovation in Mental Health (“ECIMH”) and Professor of Psychiatry at the Epworth Clinic / Epworth Health Care in Camberwell. He is a qualified psychiatrist, has a Masters of Psychological Medicine and research PhD. Professor Fitzgerald has run over 20 clinical trials registered through this scheme over the last two decades.

The proposed study is titled Evaluating the efficacy of psilocybin-assisted psychotherapy in treatment resistant depression and MYND Diagnostics’ will play an integral role in the “evaluate” component. If successful, it will lead, within 12 months of completion, to a multi-site phase 3 adaptive trial to take this treatment through to regulatory approval by the Therapeutic Goods Association (“TGA”), the Australian counterpart to Health Canada and the US Food and Drug Administration.

Major Depressive Disorder (“MDD”) is common and results in the greatest global burden of disease. Although there are established treatments for depression, people frequently do not respond to these treatments. At least 1/3 of patients with depression have an inadequate response to medication, many of whom remain persistently unwell. Psilocybin is a naturally derived psychedelic and is converted in the body to psilocin which is the psychoactive agent. The form and dose of drug and psychotherapeutic approach are all important considerations that will be refined through the trial.

Psilocybin has a number of characteristics which support its potential use in patients with depression. These patients often require a psychotherapeutic approach to treatment but struggle to successfully engage in therapy due to impairments of concentration, mood and motivation. Psilocybin has the potential to immediately boost mood enhancing engagement in therapy in addition to any direct physiological effects produced by the substance

“When Dr. Fitzgerald and I signed off on NDAs and entered into discussion back in May of this year, we were optimistic about the receptiveness for this trial within the Australian government’s regulatory climate”, stated Dr. Lyle Oberg MD, MYND Life Sciences CEO. “Depression, and other neuropsychiatric disorders are a plague on the human population that, unfortunately, know no borders. As such, our proposed solutions will require international collaborations within multiple government regulatory ecosystems. We are impressed with Dr. Fitzgerald’s research and leadership in this space, the team he has assembled, and his eagerness to provide one of the very first opportunities to test our emerging suite of biomarker tests.”

ABOUT MYND LIFE SCIENCES

MYND Life Sciences, the parent company of MYND Diagnostics INC., is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property. For more information and to subscribe to the Company’s mailing list, please visit https://myndsciences.com/contact/

CONTACT INFORMATION
Dr. Lyle Oberg, MD, CEO
Email: ir@myndsciences.com
Web: www.myndsciences.com

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or 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 or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release. 

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

SOURCE Mynd Life Sciences Inc.

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MYND Life Sciences Inc. to Present at Psychedelics Virtual Investor Conference on October 13

MYND Life Sciences Inc. to Present at Psychedelics Virtual Investor Conference on October 13

VANCOUVER, BC, Oct. 11, 2021 /PRNewswire/ — MYND Life Sciences Inc. (CSE:MYND)(OTC:MYNDF), based in Vancouver BC, focused on novel psychedelic drug development, diagnostic approaches and pharmaceuticals, today announced that MYND Life Sciences CEO, Dr. Lyle Oberg, M.D, will present live at VirtualInvestorConferences.com’s Psychedelics Conference on October 13th.

Date: October 13th, 2021
Time: 2:00 pm ET
Registration Link: https://bit.ly/3kObcQO

This will be a live, interactive online event where investors are invited to ask the Company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

To schedule a meeting with Dr. Lyle Oberg please contact ir@myndlifesciences.com

Recent Company Highlights

MYND Life Sciences Announces Diagnostic Division with Formation of Wholly-Owned Subsidiary – MYND Diagnostics Ltd.

MYND Life Sciences Announces Closing of Fully Subscribed $3 Million Convertible Debenture Unit Offering

MYND Life Sciences Chief Scientific Officer published in The Lancet Medical Journal for Alzheimer’s Disease Research

About MYND Life Sciences

MYND Life Sciences is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property.

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group’s suite of investor relations services specifically designed for more efficient Investor Access.  Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

SOURCE VirtualInvestorConferences.com

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MYND Life Sciences Announces Diagnostic Division with Formation of Wholly-Owned Subsidiary – MYND Diagnostics Ltd.

MYND Life Sciences Announces Diagnostic Division with Formation of Wholly-Owned Subsidiary – MYND Diagnostics Ltd.

MYND Diagnostics was formed to commercialize proprietary biomarker diagnostic tests for patients suffering from MDD, TRD and other psychiatric disorders.

VANCOUVER, BC, Oct. 7, 2021 /CNW/ – MYND Life Sciences Inc. (CSE: MYND) (OTC: MYNDF) (“MYND” or the “Company“) is pleased to announce the formation of its diagnostic biomarker division with the incorporation of a wholly-owned subsidiary, MYND Diagnostics Ltd. (“MYND Diagnostics” or the “Subsidiary”).

MYND Diagnostics’ robust investigational pipeline of diagnostics, novel small molecules, and biologics is focused on improving disease outcomes, monitoring and improving the treatment experience for patients suffering from Major Depressive Disorder (“MDD”), Treatment Resistant Depression (“TRD”) and other inflammatory afflictions of the Central Nervous System.  The Subsidiary’s innovation, enabled by proprietary technology, allows for the quantitative and qualitative measurement of the MYND Anti-inflammatory Peptide (“MAP”) biomarker. The subsidiary forecasts revenue by Q2 of 2022.

“We are focused on supporting our drug development pipeline with the formation of MYND Diagnostics Ltd., our diagnostic biomarker division which will generate near term revenue through the commercialization of our MAP biomarker,” stated Dr. Lyle Oberg MD, MYND.  Life Sciences CEO. “For decades, the diagnosis of psychiatric illness relied almost exclusively on self-reporting and physician observation of symptoms to make a diagnosis. The MAP Biomarker will give healthcare providers an objective monitoring tool that will detect and diagnose mental illness earlier, thereby enabling quicker, more targeted treatments. We will deliver an accurate indicator of depression, therefore allowing for better monitoring of improving or relapsing disease.”

MYND Diagnostics Clinical Trials

The Subsidiary’s focus will be to conduct clinical trials to identify a marker for quantitatively diagnosing and monitoring depression in response to treatment. MYND’s Chief Clinical Officer, Iryna Saranchova, MD, Ph.D. will oversee the Subsidiary’s diagnostic trials.

MYND Diagnostics Biomarker Tests

The target market for MYND Diagnostics’ proprietary tests includes hospitals, clinics, healthcare facilities and other corporate and pharmaceutical companies, during clinical trials, and once efficacy and safety is demonstrated on humans, direct to consumer and physician.

The Global Biomarkers Market

According to Reports and Data, the global biomarkers market is forecasted to grow at a rate of 13.6%, from USD 41.47 billion in 2019 to USD 115.45 billion in 2027.  The biomarker market is experiencing rapid growth attributed to its increasing application in drug discovery and development, diagnostic, risk assessment of target conditions, and benefits in personalized medication. MYND Diagnostics’ competitive advantage is that its process is cost-effective, time-efficient and can produce test results directly from a dried blood sample rather than the often cumbersome logistics of using vials of whole blood.

ABOUT MYND LIFE SCIENCES

MYND Life Sciences is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The Company is advancing pharmaceuticals through rigorous science and clinical trials, while diligently patenting and safeguarding its intellectual property. For more information and to subscribe to the Company’s mailing list, please visit https://myndsciences.com/contact/

CONTACT INFORMATION
Dr. Lyle Oberg, MD, CEO
Email: ir@myndsciences.com 
Web: www.myndsciences.com

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or 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 or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release.  

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

SOURCE Mynd Life Sciences Inc.

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MYND Life Sciences Inc. Announces RSU Grant

MYND Life Sciences Inc. Announces RSU Grant

VANCOUVER, BC, Sept. 29, 2021 /CNW/ – MYND Life Sciences Inc. (“MYND” or the “Company“), has granted an aggregate of 234,192 restricted share units (the “RSUs”) to officers and employees pursuant to the Company’s RSU plan.

The Company’s RSU and stock-based option plans are aimed to compensate and reward its directors, officers and employees for working towards the Company’s long-term objectives and in alignment with the shareholders’ best interest.

ABOUT MYND LIFE SCIENCES

MYND Life Science Inc. is a leading life sciences company focused on improving mental health. The Company has confirmed access to Health Canada psilocybin research and development through exemptions granted to its Chief Science Officer, Dr. Wilfred Jefferies. Four separate patents have been filed based on Dr. Jefferies’ very promising research and development that commenced in 2010 regarding the modulation of a specific gene using neuro agents such as psychedelics and other compounds. Research and development is currently being performed.

CONTACT INFORMATION
CEO Dr. Lyle Oberg
Email: IR@myndlifesciences.com 
Web: www.myndlifesciences.com

Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events, or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press release includes, long-term objectives, and management’s expectations regarding MYND’s growth. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of MYND to control or predict, that may cause MYND’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading “Risk Factors” in the Company’s final non-offering long form prospectus dated May 12, 2021 available for review on the Company’s profile at www.sedar.com. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE Mynd Life Sciences Inc.

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MYND Life Sciences Announces Closing of Fully Subscribed $3 Million Convertible Debenture Unit Offering

MYND Life Sciences Announces Closing of Fully Subscribed $3 Million Convertible Debenture Unit Offering

VANCOUVER, BC, Sept. 9, 2021 /CNW/ – MYND Life Sciences Inc. (CSE: MYND) (OTC: MYNDF) (“MYND” or the “Company“) is pleased to announce, further to its news release of August 26, 2021, the closing of its non-brokered private placement offering (the “Offering“) under which it sold $3,000,000 aggregate principal amount of convertible debenture units (the “Debenture Units“) for gross proceeds of $2,700,000, representing an initial issue discount equal to 10% of the aggregate principal amount of the Debentures (as defined below).

Each Debenture Unit consists of (i) $1,000 principal amount of senior unsecured convertible debentures (the “Debentures“); (ii) common share purchase warrants (the “Warrants“) exercisable for 1,000 common shares in the Company (“Shares“).  The Debentures will mature on the date that is 24 months from the date of issuance (the “Maturity Date“) and shall bear interest at a rate of 5% per annum, payable on the Maturity Date.  The principal sum of the Debentures, or any portion thereof, may be converted into Shares of the Company at a conversion price of $0.75 per Share (the “Conversion Price”).  Each Warrant shall entitle the holder to acquire one additional common share (a “Warrant Share“) in the capital of the Company at a price of $1.00 per Warrant Share for a period of 24 months from the date of issuance.

The Company may force the conversion of all of the principal amount of the then outstanding Debentures at the Conversion Price prior to the Maturity Date, if the daily volume weighted average trading price (“VWAP“) of the Shares on the Canadian Securities Exchange (the “Exchange“) is greater than a 50% premium to the Conversion Price for any 15 trading days during any period of 30 consecutive trading days.

All Debentures and Warrants issued pursuant to the Offering, including any securities into which they may be converted or exercised, are subject to a statutory hold period of four months and one day from the date of issuance thereof.  The Company will use the proceeds of the Offering to advance its novel drug discovery platform, commercialize its diagnostic business unit and for general working capital.

For more information and to subscribe to the Company’s mailing list, please visit https://myndsciences.com/contact/

ABOUT MYND LIFE SCIENCES
MYND Life Sciences is a medicinal biotech and drug research and development company focused on neuro-pharmaceutical and novel psychedelic drug development, diagnostic approaches and vaccines. The Company is advancing medicinal substances through rigorous science and clinical trials.

CONTACT INFORMATION
Dr. Lyle Oberg, CEO
Email: ir@myndsciences.com 
Web: www.myndsciences.com

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or 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 or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.  

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

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MYND Life Sciences Announces $3 Million Convertible Debenture Unit Offering

MYND Life Sciences Announces $3 Million Convertible Debenture Unit Offering

VANCOUVER, BC, Aug. 26, 2021 /PRNewswire/ – MYND Life Sciences Inc.  (CSE: MYND) (OTC: MYNDF) (“MYND” or the “Company“), is pleased to announce that it has entered into a binding term sheet in respect of a non-brokered private placement offering (the “Offering“) of debenture units (the “Debenture Units“) with a strategic institutional investor. The principal sum of the Debentures Units to be issued is up to $3,000,000.

“We are incredibly pleased to add a strategic institutional investor, who has been very active in deploying capital in novel psychedelic drug development companies, to participate in this round of financing, joining our broader investor base in advancing our novel drug discovery platform,” said MYND Life Sciences CEO Dr. Lyle Oberg. “This capital will enable the Company to accelerate the commercialization of its diagnostic biomarker division in addition to helping advance MYND’s various clinical trials which are expected to commence in Q4 of this year”.

Each Debenture Unit consists of (i) $1,000 principal amount of senior unsecured convertible debentures (the “Debentures“); and (ii) common share purchase warrants (the “Warrants“) exercisable for 1,000 common shares in the Company (“Shares“). The Debentures will mature on the date that is 24 months from the date of issuance (the “Maturity Date“) and shall bear interest at a rate of 5% per annum, payable on the Maturity Date. The principal sum of the Debentures, or any portion thereof, may be converted into Shares of the Company at a conversion price of $0.75 per Share (the “Conversion Price”). Each Warrant shall entitle the holder to acquire one additional common share (a “Warrant Share“) in the capital of the Company at a price of $1.00 per Warrant Share for a period of 24 months from the date of issuance. The Debentures will be issued at a discount equal to 10% of the aggregate principal amount of the Debentures.

The Company may force the conversion of all of the principal amount of the then outstanding Debentures at the Conversion Price prior to the Maturity Date, if the daily volume weighted average trading price (“VWAP“) of the Shares on the Canadian Securities Exchange (the “Exchange“) is greater than a 50% premium to the Conversion Price for any 15 trading days during any period of 30 consecutive trading days.

All Debentures and Warrants issued pursuant to the Offering, including any securities into which they may be converted or exercised, are subject to a statutory hold period of four months and one day from the date of issuance thereof. The Offering is subject to final acceptance by the Exchange. The Company will use the proceeds of the Offering to advance its novel drug discovery platform, commercialize its diagnostic business unit and for general working capital.

For more information and to subscribe to the Company’s mailing list, please visit https://myndsciences.com/contact/

ABOUT MYND LIFE SCIENCES

MYND Life Sciences is a medicinal biotech and drug research and development company focused on neuro-pharmaceutical and novel psychedelic drug development, diagnostic approaches and pharmaceuticals and vaccines. The Company is advancing medicinal substances through rigorous science and clinical trials.

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or 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 or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.  

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

SOURCE Mynd Life Sciences Inc.