NeonMind Announces Cancellation of Securities
NeonMind Announces Cancellation of Securities
Oakville, Ontario – January 6, 2023: NeonMind Biosciences Inc. (CSE: NEON) (FRA:6UF0) (“NeonMind”or the “Company”) announces that, in preparation for the reverse merger transaction with LancasterLithium Inc. previously announced on December 14, 2022, NeonMind has cancelled an aggregate of3,742,500 stock options (the “Options”) and an aggregate of 225,000 restricted share units (the “RSUs”),and 2,500,000 issued common shares, previously granted to certain directors and officers pursuant tothe Company’s stock option plan and the Company’s RSU plan. The terms of the cancelled securitieswere as follows:
Security Number Cancelled Original Dateof Grant or Issuance
Expiry Date Exercise Price
Options 850,000 August 8, 2022 August 8, 2027 $0.10
Options 1,692,500 September 28, 2022 September 28,2027
$0.10
Options 1,200,000 June 7, 2022 June 7, 2027 $0.10
Restricted ShareUnits
225,000 September 28, 2022 September 28,2028
n/a
Common Shares(issued as RSUgrants)
2,500,000 June 7, 2022 n/a n/a
The number of Shares comprising the share capital of the Company after the cancellation amounts to33,702,475.
About NeonMind Biosciences Inc.
NeonMind has been engaged in drug development of psychedelic compounds with two leadpsilocybin-based drug candidates targeting obesity. On December 14, 2023 the Company announcedthat it had entered into a reverse merger agreement with Lancaster Lithium Inc.
Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences [email protected]: 705-710-6366
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this newsrelease.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. Thesestatements relate to future events, including the completion of the Transaction, or NeonMind’s futureperformance. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”,”estimated” andsimilar expressions and statements relating to matters that are not historical facts are intended toidentify forward-looking information and are based on NeonMind’s current belief or assumptions as tothe outcome and timing of such future events. Actual future results may differ materially. In particular,the ability of NeonMind to complete the transaction with Lancaster Lithium Inc. (the “Transaction”),NeonMind’s ability to retain key personnel, and raise capital constitute forward-looking information.Actual results and developments may differ materially from those contemplated by forward-lookinginformation.
The completion of the Transaction is subject to a number of conditions, including but not limited to, CSEacceptance and if applicable, shareholder approval. Where applicable, the Transaction cannot close untilthe required shareholder approval is obtained. There can be no assurance that the Transaction will becompleted as proposed or at all.
Readers are cautioned not to place undue reliance on forward-looking information. The statements madein this press release are made as of the date hereof. NeonMind disclaims any intention or obligation topublicly update or revise any forward-looking information, whether as a result of new information, futureevents or otherwise, except as may be expressly required by applicable securities laws.