VANCOUVER, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq and CSE: CMND), (FSE: CWY0) (“Clearmind” oregon the “Company”), a biotech institution focused connected find and improvement of caller psychedelic-derived therapeutics to lick large undertreated wellness problems, contiguous announced the closing of its underwritten nationalist offering of 1,153,847 communal shares astatine a terms to the nationalist of US$6.50 per stock (CAD$8.65), for aggregate gross proceeds of US$7.5 million, anterior to deducting underwriting discounts and offering expenses. The closing occurs pursuing a 1-for-30 reverse banal split, which was effectual astatine 5:30 p.m. connected September 30, 2022.
In addition, the Company has granted Aegis Capital Corp. (“Aegis”) a 45-day enactment to acquisition up to 173,077 further communal shares, adjacent to 15% of the fig of shares sold successful the offering solely to screen over-allotments, if any. The nationalist acquisition terms per further communal stock volition beryllium US$6.50 per stock (CAD$8.65). If Aegis exercises the enactment successful afloat for communal shares, the full gross proceeds of the offering including the overallotment are expected to beryllium astir US$8.6 cardinal earlier deducting underwriting discounts and commissions and offering expenses. All securities sold arsenic portion of the offering whitethorn not beryllium sold, transferred, hypothecated oregon different traded connected oregon done facilities of Canadian Securities Exchange oregon different successful Canada oregon for the payment of a Canadian nonmigratory until March 18, 2023.
Aegis Capital Corp. acted arsenic sole book-running manager for the offering.
Additionally, Aegis has received 57,692 underwriter warrants, each specified warrant entitling the agents to person 1 communal stock upon outgo of US $8.125 per share, exercisable six (6) months aft the commencement of income of this offering and expiring connected a day which is nary much than 5 (5) years aft the commencement of income of the offering.
A registration connection connected Form F-1 (No. 333-265900) relating to the securities being sold successful this offering was declared effectual by the Securities and Exchange Commission (the “SEC”) connected November 14, 2022. The offering is being made lone by means of a prospectus. Copies of the last prospectus whitethorn beryllium obtained connected the SEC’s website, www.sec.gov, oregon by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th Floor, New York, NY 10105, by email astatine syndicate@aegiscap.com, oregon by telephone astatine (212) 813-1010.
This property merchandise shall not represent an connection to merchantability oregon a solicitation of an connection to buy, nor shall determination beryllium immoderate merchantability of these securities successful immoderate authorities oregon jurisdiction successful which specified an offer, solicitation oregon merchantability would beryllium unlawful anterior to registration oregon qualification nether the securities laws of immoderate specified authorities oregon jurisdiction.
About Clearmind Medicine Inc.
Clearmind is simply a psychedelic pharmaceutical biotech institution focused connected the find and improvement of caller psychedelic-derived therapeutics to lick wide and underserved wellness problems, including intoxicant usage disorder. Its superior nonsubjective is to probe and make psychedelic-based compounds and effort to commercialize them arsenic regulated medicines, foods oregon supplements.
The Company’s intelligence portfolio presently consists of 7 patent families. The Company intends to question further patents for its compounds whenever warranted and volition stay opportunistic regarding the acquisition of further intelligence spot to physique its portfolio.
Shares of Clearmind are listed for trading connected the Canadian Securities Exchange nether the awesome “CMND”, the Frankfurt Stock Exchange nether the awesome “CWY0” and connected the OTC Markets nether the awesome “CMNDF”.
For further information, delight contact:
Investor Relations,
Email: invest@clearmindmedicine.com
Telephone: (604) 260-1566
General Inquiries,
Info@Clearmindmedicine.com
www.Clearmindmedicine.com
FORWARD-LOOKING STATEMENTS:
This quality merchandise whitethorn incorporate forward-looking statements and accusation based connected existent expectations. These statements should not beryllium work arsenic guarantees of aboriginal show oregon results. Such statements impact known and chartless risks, uncertainties and different factors that whitethorn origin existent results, show oregon achievements to beryllium materially antithetic from those implied by specified statements. Such statements see submission of the applicable documentation wrong the required timeframe to the restitution of the applicable regulators and raising capable financing to implicit the Company’s concern strategy. There is nary certainty that immoderate of these events volition occur. Although specified statements are based connected management’s tenable assumptions, determination tin beryllium nary assurance that specified assumptions volition beryllium to beryllium correct. For a much elaborate statement of the risks and uncertainties affecting the Company, notation is made to the Company’s reports filed from clip to clip with the Securities and Exchange Commission (“SEC”), including, but not constricted to, the risks elaborate successful the Company’s preliminary prospectus (Registration No. 333-265900), filed with the SEC connected November 14, 2022. We presume nary work to update oregon revise them to bespeak caller events oregon circumstances. If the Company does update 1 oregon much forward-looking statements, nary inference should beryllium drawn that the Company volition marque further updates with respect thereto oregon with respect to different forward-looking statements. References and links to websites person been provided arsenic a convenience, and the accusation contained connected specified websites is not incorporated by notation into this property release. Clearmind is not liable for the contents of third-party websites.
Investing into early-stage companies inherently carries a precocious grade of risk, and concern into securities of the Company shall beryllium considered highly speculative.
This property merchandise shall not represent an connection to merchantability oregon the solicitation of an connection to buy, nor shall determination beryllium immoderate merchantability of the securities successful immoderate state successful which specified offer, solicitation oregon merchantability would beryllium unlawful. The securities issued, oregon to beryllium issued, nether the underwriter warrants person not been, and volition not be, registered nether the United States Securities Act of 1933, arsenic amended, and whitethorn not beryllium offered oregon sold successful the United States absent registration oregon an applicable exemption from registration requirements.
Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that word is defined successful the policies of the CSE) accepts work for the adequacy oregon accuracy of this release.
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