Clearmind Announces Notice of Proposed Stock Consolidation
25 September 2022 - 11:36PM
Clearmind Medicine Inc. (CSE: CMND), (OTC Pink: CMNDF), (FSE: CWY0)
(“
Clearmind” or the "
Company"), a biotech company
focused on discovery and development of novel psychedelic-derived
therapeutics to solve major undertreated health problems, announces
that it will be consolidating all of the issued and outstanding
common shares of the Company ("
Common Shares") on the basis
of one (1) post consolidation Common Share for each thirty (30) pre
consolidation Common Shares (the "
Consolidation").
The Corporation's board of directors set
September 30, 2022 as the effective date of the Consolidation.
Trading of the Common Shares on a post-Consolidation basis on the
Canadian Securities Exchange (the "CSE") will commence on or
about October 3, 2022. The Company's name and trading symbol will
remain unchanged.The 39,592,344 Common Shares currently issued and
outstanding will be reduced to approximately 1,319,744 Common
Shares on a post-Consolidation basis. No fractional shares will be
issued. Any fractional interest in Common Shares will be rounded up
to the nearest whole Common Share.
Letter of transmittals will be mailed to
registered Shareholders and registered Shareholders will be
required to deposit their share certificate(s), together with the
duly completed letter of transmittal, with Computershare Investor
Services Inc., the Company's registrar and transfer agent.
Non-registered Shareholders holding Common Shares through an
intermediary (a securities broker, dealer, bank or financial
institution) should be aware that the intermediary may have
different procedures for processing the Consolidation than those
that will be put in place by the Company for registered
Shareholders. If Shareholders hold their Common Shares through
intermediaries and have questions in this regard, they are
encouraged to contact their intermediaries.
Outstanding stock options and share purchase
warrants will also be adjusted by the Consolidation ratio and the
respective exercise prices of outstanding options and share
purchase warrants will be adjusted accordingly.
About Clearmind Medicine Inc.
Clearmind is a psychedelic pharmaceutical biotech company
focused on the discovery and development of novel
psychedelic-derived therapeutics to solve widespread and
underserved health problems, including alcohol use disorder. Its
primary objective is to research and develop psychedelic-based
compounds and attempt to commercialize them as regulated medicines,
foods or supplements.
The Company’s intellectual portfolio currently consists
of seven patent families. The Company intends to seek
additional patents for its compounds whenever warranted and will
remain opportunistic regarding the acquisition of additional
intellectual property to build its portfolio.
Shares of Clearmind are listed for trading on the Canadian
Securities Exchange under the symbol "CMND", the Frankfurt
Stock Exchange under the symbol “CWYO” and on the OTC
Markets under the symbol "CMNDF".
For further information, please contact:Investor
Relations,Email: invest@clearmindmedicine.comTelephone: (604)
260-1566General
Inquiries,Info@Clearmindmedicine.comwww.Clearmindmedicine.com
FORWARD-LOOKING STATEMENTS:
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 Private Placement 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 (the “CSE”) 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.