NeonMind Announces DTC Eligibility
NeonMind Announces DTC Eligibility
Vancouver, B.C. – August 25, 2021: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FFE:6UF) (“NeonMind'' or the “Company”), an integrated drug development and wellness company focusedon the potential therapeutic uses of psilocybin for treating obesity and weight management conditions,announced today that its common shares listed on the OTCQB under the symbol “NMDBF” are noweligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in theUnited States.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation that manages the electronicclearing and settlement of publicly traded companies in the United States. Securities that are eligible tobe electronically cleared and settled through DTC are considered to be "DTC eligible." The electronicmethod of clearing securities through the DTC allows for cost-effective clearing and guaranteedsettlement, simplifying and accelerating the settlement process for investors trading the Company’sshares.
"By receiving DTC eligibility, NeonMind's common shares are more accessible to a broader range ofpotential investors,” said Rob Tessarolo, President and CEO of NeonMind. “Being DTC eligible simplifiesthe process of transferring the Company's shares between brokerages in the United States and speedsup the execution of trades, which should help to increase the liquidity of our stock. This is an important
step as we continue to advance our business efforts and broaden awareness for our company in bothdomestic and international markets.”
About NeonMind Biosciences Inc.NeonMind is engaged in preclinical research to develop potential clinical treatments and wellnessproducts to address obesity and weight management conditions and to promote health and wellness.The Company operates three divisions: (i) a pharmaceutical division engaged in drug development ofpsychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; (ii) a medicalservices division focused on launching specialty mental health clinics that integrate psychedelictherapeutics into traditional psychotherapy settings; and (iii) a consumer products division that currentlysells mushroom-infused products to promote health and wellness.
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 established a medical services division with the goal of launching NeonMind-brandedspecialty mental health clinics in Canada that incorporate evidence-backed innovative treatments toaddress a variety of mental health needs.
NeonMind’s consumer division currently sells NeonMind-branded coffee products in the United Statesand Canada through NeonMind’s direct to consumer e-commerce platform.
For more information on NeonMind, go to www.NeonMindBiosciences.com.
Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences [email protected]: 416-750-3101
Investor Relations:KCSA Strategic CommunicationsScott Eckstein/Tim [email protected]: 212-896-1210
Media Inquiries:
KCSA Strategic CommunicationsAnnie [email protected]: 786-390-2644
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 statementsrelating 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.