NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) (“NeonMind” or the “Firm”) an built-in drug improvement and wellness firm centered on bringing modern psychedelic-based remedies to folks affected by weight problems and psychological well being issues, pronounces that it intends to consolidate its issued and excellent widespread shares of the Firm (“Frequent Shares”) on the idea of 4 (4) post-consolidation Frequent Share for each (1) pre-consolidation Frequent Shares (the “Consolidation”).
The Firm’s board of administrators set April 19, 2022 because the document date of the Consolidation. Buying and selling of the Frequent Shares on a post-Consolidation foundation on the Canadian Securities Change (the “CSE”) is anticipated to begin on or about April 18, 2022. The Firm’s title and buying and selling image will stay unchanged.
The Firm at present has 128,576,561 Frequent Shares issued and excellent. Following the Consolidation, there shall be roughly 32,144,140 Frequent Shares issued and excellent. No fractional shares shall be issued. Any fractional curiosity in Frequent Shares that’s lower than 0.5 of a Frequent Share ensuing from the Consolidation shall be rounded right down to the closest complete Frequent Share and any fractional curiosity in Frequent Shares that’s 0.5 or better of a Frequent Share shall be rounded as much as the closest complete Frequent Share.
In accordance with the Firm’s Articles, the Consolidation is not going to require approval of the shareholders.
A letter of transmittal shall be mailed to registered shareholders offering directions with respect to surrendering certificates representing pre-Consolidation Frequent Shares in change for post-Consolidation Frequent Shares issued on account of the Consolidation. Till surrendered, every certificates representing pre-Consolidation Frequent Shares shall be deemed to characterize the variety of post-Consolidation Frequent Shares the holder acquired on account of the Consolidation. Shareholders who maintain their Frequent Shares in brokerage accounts or in book-entry kind aren’t required to take any motion.
Excellent NeonMind inventory choices, share buy warrants, and restricted share items will even be adjusted by the Consolidation ratio and the respective train costs of excellent choices and share buy warrants shall be adjusted accordingly.
The Consolidation is topic to the acceptance of the Canadian Securities Change.
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug improvement of psychedelic compounds with two lead psilocybin-based drug candidates concentrating on weight problems; and (ii) a medical providers division centered on launching specialty psychological well being clinics that combine psychedelic therapeutics into conventional psychotherapy settings.
In its pharmaceutical division, NeonMind has two distinct psilocybin drug improvement applications concentrating on weight problems. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist on the serotonin 5- HT2A receptor, which is concerned within the hallucinogenic impact of psychedelics. The Firm’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist on the 5-HT2C receptor, which controls urge for food.
NeonMind and its strategic companions are constructing NeonMind-branded specialty psychological well being clinics in Canada that incorporate evidence-backed modern remedies to deal with a wide range of psychological well being wants. For extra data on Neon—>Thoughts, go to www.NeonMindBiosciences.com.
Rob Tessarolo, President & Chief Govt Officer, NeonMind Biosciences Inc.
rob@neonmind.com
Tel: 416-750-3101
The Canadian Securities Change has not reviewed, accredited nor disapproved the contents of this information launch.
Cautionary Assertion Relating to Ahead-Wanting Statements
Sure statements contained on this press launch represent forward-looking data. These statements relate to future occasions or NeonMind’s future efficiency. The usage of any of the phrases “may”, “anticipate”, “imagine”, “will”, “projected”, “estimated” and related expressions and statements referring to issues that aren’t historic info are meant to establish forward-looking data and are primarily based on NeonMind’s present perception or assumptions as to the end result and timing of such future occasions. Precise future outcomes could differ materially. Specifically, NeonMind’s drug improvement plans, its means to retain key personnel, and its expectation as to the event of its mental property and different steps in its preclinical and medical drug improvement represent forward-looking data. Precise outcomes and developments could differ materially from these contemplated by forward-looking data. Readers are cautioned to not place undue reliance on forward-looking data. The statements made on this press launch are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly replace or revise any forward-looking data, whether or not on account of new data, future occasions or in any other case, besides as could also be expressly required by relevant securities legal guidelines.
