NeonMind Announces 4:1 Share Consolidation
NeonMind Announces 4:1 Share Consolidation
Oakville, Ontario – April 11, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA:
6UF) (“NeonMind'' or the “Company”) an integrated drug development and wellness company focused
on bringing innovative psychedelic-based treatments to people suffering from obesity and mental health
disorders, announces that it intends to consolidate its issued and outstanding common shares of
the Company ("Common Shares") on the basis of four (4) pre-consolidation Common Shares for each
one (1) post-consolidation Common Share (the "Consolidation").
The Company's board of directors set April 19, 2022 as the record date of the Consolidation. Trading of
the Common Shares on a post-Consolidation basis on the Canadian Securities Exchange (the "CSE") is
expected to commence on or about April 18, 2022. The Company's name and trading symbol will remain
unchanged.
The Company currently has 128,576,561 Common Shares issued and outstanding. Following the
Consolidation, there will be approximately 32,144,140 Common Shares issued and outstanding. No
fractional shares will be issued. Any fractional interest in Common Shares that is less than 0.5 of a
Common Share resulting from the Consolidation will be rounded down to the nearest whole Common
Share and any fractional interest in Common Shares that is 0.5 or greater of a Common Share will be
rounded up to the nearest whole Common Share.
In accordance with the Company’s Articles, the Consolidation will not require approval of the
shareholders.
A letter of transmittal will be mailed to registered shareholders providing instructions with respect to
surrendering certificates representing pre-Consolidation Common Shares in exchange for
post-Consolidation Common Shares issued as a result of the Consolidation. Until surrendered, each
certificate representing pre-Consolidation Common Shares will be deemed to represent the number of
post-Consolidation Common Shares the holder received as a result of the Consolidation. Shareholders
who hold their Common Shares in brokerage accounts or in book-entry form are not required to take any
action.
Outstanding NeonMind stock options, share purchase warrants, and restricted share units will also beadjusted by the Consolidation ratio and the respective exercise prices of outstanding options and sharepurchase warrants will be adjusted accordingly.
The Consolidation is subject to the acceptance of the Canadian Securities Exchange.
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development ofpsychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) amedical services division focused on launching specialty mental health clinics that integrate psychedelictherapeutics into traditional psychotherapy settings.
In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programstargeting obesity. NeonMind's lead candidate, NEO-001, employs psilocybin as an agonist at theserotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company'ssecond drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor,which controls appetite.
NeonMind and its strategic partners are building NeonMind-branded specialty mental health clinics inCanada that incorporate evidence-backed innovative treatments to address a variety of mental healthneeds. For more information on NeonMind, go to www.NeonMindBiosciences.com.
Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences [email protected]: 416-750-3101
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 or NeonMind's future performance. The use of any of the words"could", "expect", "believe", "will", "projected","estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to identify forward-looking information andare based on NeonMind's current belief or assumptions as to the outcome and timing of such futureevents. Actual future results may differ materially. In particular, NeonMind's drug development plans, itsability to retain key personnel, and its expectation as to the development of its intellectual property andother steps in its preclinical and clinical drug development constitute forward-looking information. Actualresults and developments may differ materially from those contemplated by forward-lookinginformation. Readers are cautioned not to place undue reliance on forward-looking information. Thestatements made in this press release are made as of the date hereof. NeonMind disclaims any intentionor obligation to publicly update or revise any forward-looking information, whether as a result of newinformation, future events or otherwise, except as may be expressly required by applicable securitieslaws.