Congratulations to Clearmind Medicine on completing their most recent capital raise. Happy to be part of a team which is now one step closer to finding a cure, for what will hopefully be an FDA approved solution to alcohol abuse.
Clearmind Medicine Inc. Announces Closing of Previously Announced Private Placements for Aggregate Gross Proceeds of CAD$6.225 Million at CAD $0.75 per Unit Toronto, Ontario–(Newsfile Corp. – June 30, 2021) – Clearmind Medicine Inc. (CSE: CMND) (“Clearmind” or the “Company”), a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and under-served health problems, today announced that (further to its press releases of May 27, 2021, and June 20, 2021) that it has closed its previously announced private placement (the “Offering”) for an aggregate amount of $6,225,000 (the “Gross Proceeds”). The Offering resulted in the issuance of an aggregate of 8,300,000 units of the Company (“Units”) at a price of $0.75 per Unit. Each Unit consisted of one common share of the Company (“Common Share”) and one common share purchase warrant (“Warrant”), with each Warrant being exercisable to acquire one additional Common Share of the Company (a “Warrant Share”) at an exercise price of $1.25 per Warrant Share until December 30, 2022.
Cleramind Medicine CEO, Gadi Levin, said, “We are extremely pleased to have the continued support of the investment community. This financing is critical to the fast-growing psychedelic medicine industry. Clearmind Medicine is committed to develop solutions for the millions suffering from mental illness and addiction globally.” Net proceeds from the Offering will be mainly used by the Company for the implementation of its R&D. plan.
Common Shares and Warrants issued pursuant to the Offering will be subject to a statutory hold period, expiring on October 31, 2021, in accordance with applicable securities legislation. The Company paid finder’s fees in association with this financing, payable in cash, of up to 10% of the Gross Proceeds.
About Clearmind Medicine Inc.
Clearmind is a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic derived therapeutics to solve widespread and under-served health problems including alcohol use disorder. Its primary objective is to research and develop compounds derived from psychedelics and attempt to commercialize them as regulated medicines, foods or supplements.
The Company’s intellectual portfolio currently consists of two patent families, one for binge behavior regulators and the other for an alcoholic beverage substitute. Within these two families the Company has two U.S. patents, one European patent, and allowed applications in China and India and pending divisional applications in Europe and the US related to binge behavior regulators; and a European patent and pending applications in the US, China and India related to the alcohol beverage substitute family.
For further information, please contact:
Investor Relations Contact – Edge Communications Group Email: email@example.com Telephone: (778) 400-5347
For other inquiries Info@Clearmindmedicine.com
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Investing into early-stage companies inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative. 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 province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Not for distribution to U.S. newswire services or dissemination in the United States.
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