Clearmind Medicine Announces Price of US$7.5 Million Public Offering and Listing on Nasdaq Capital Markets

Clearmind Medicine Announces Price of US$7.5 Million Public Offering and Listing on Nasdaq Capital Markets

VANCOUVER, Nov. 14, 2022 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (Nasdaq and CSE: CMND), (FSE: CWY0) (“Clearmind” or the “Company”), a biotechnology company focused on the discovery and development of new psychedelic-derived therapies to address important under-treated health conditions, today announced the price of its underwritten public offering of 1,153,847 common shares at a public price of US$6.50 per share (CA$8.65), for total gross proceeds of US$7.5 million, before deducting subscription discounts and offering fees. The pricing comes following a 1-for-30 reverse stock split, which became effective at 5:30 p.m. on September 30, 2022.

In addition, the Company granted Aegis Capital Corp. (“Aegis”) a 45-day option to purchase up to an additional 173,077 common shares, or 15% of the number of shares sold under the offering solely to cover over-allotments, if any. The public purchase price per additional common share will be US$6.50 per share (C$8.65). If Aegis exercises the Common Share Option in full, the aggregate gross proceeds of the offering, including the over-allotment, are expected to be approximately US$8.6 million before deducting underwriting discounts and fees and expenses. ‘offer. The offering is expected to close on or about November 17, 2022, subject to customary closing conditions. All securities sold under the Offer may not be sold, transferred, mortgaged or otherwise dealt in on or through the facilities of any Canadian stock exchange or otherwise in Canada or for the benefit of a Canadian resident until as of March 17, 2023.

Aegis Capital Corp. acts as the sole bookrunner for the Offering.

In addition, Aegis will receive 57,692 warrants, each of which entitles the agents to receive one common share upon payment of US$8.125 per share, exercisable six (6) months after the commencement of sales of this offering and expiring at a date that is not more than five (5) years after the beginning of the marketing of the offer.

The Company also announced that, in connection with the offering, its common stock has been approved for listing on the Nasdaq Capital Market and will begin trading on the Nasdaq Capital Market under the symbol “CMND” on November 15, 2022.

A registration statement on Form F-1 (No. 333-265900) relating to the securities sold pursuant to this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on November 14, 2022. offering is pending solely by means of a prospectus. Copies of the final prospectus may be obtained, when available, at the SEC’s website,, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th Floor , New York, NY 10105, by email at, or by phone at (212) 813-1010.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification. under the securities laws of such state or territory.

About Clearmind Medicine Inc.

Clearmind is a psychedelic pharmaceutical biotechnology company focused on the discovery and development of novel psychedelic-derived therapies to address widespread and underserved health conditions, including alcohol use disorders. Its main focus is to research and develop psychedelic-based compounds and attempt to market them as regulated drugs, 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 in acquiring additional intellectual property to build its portfolio.

Clearmind’s shares are listed for trading on the Canadian Securities Exchange under the symbol “CMND”, on the Frankfurt Stock Exchange under the symbol “CWY0” and on the OTC markets under the symbol “CMNDF”.

For more information, please contact:

Investor Relations,


Phone: (604) 260-1566

General Information,


This press release may contain forward-looking statements and information based on current expectations. These statements should not be construed 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 differ materially from those implied by such statements. These representations include submitting relevant documentation in a timely manner to the satisfaction of the relevant regulatory authorities and raising sufficient funding to carry out the Company’s business strategy. There is no certainty that any of these events will occur. Although these statements are based on management’s reasonable assumptions, there can be no assurance that these assumptions will prove to be correct. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the company’s Preliminary Prospectus (registration number 333-265900), filed with the SEC on November 14, 2022. We assume no responsibility to update or revise them to reflect new events or circumstances. If the Company updates one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and information contained on such websites is not incorporated by reference in this press release. Clearmind is not responsible for the content of third party websites.

Investing in early-stage companies inherently involves a high degree of risk, and an investment in securities of the Company should be considered highly speculative.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of the securities in any province where such offer, solicitation or sale would be unlawful. The securities issued or to be issued under the Warrants 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 as of lack of 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.

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