NeonMind Announces Voluntary Delisting from OTCQB
NeonMind Announces Voluntary Delisting from OTCQB
Oakville, Ont. – July 5, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTC Pink:NMDBF) (FSE:6UF)(“NeonMind'' or the “Company”), an integrated drug development and wellness company focused onbringing innovative psychedelic-based treatments to people suffering from obesity and mental healthdisorders, announces that it voluntarily delisted its common shares from trading on the OTCQB. Thedelisting was effective prior to the opening of the markets on July 5, 2022.
The Company is currently listed on Canada’s Canadian Securities Exchange (CSE:NEON) and the FrankfurtStock Exchange (FSE:6UF), and the Company's common shares are now quoted on the Pink tier of OTCMarkets Group under the stock ticker NMDBF. The Company’s common shares continue to be eligiblefor electronic clearing and settlement through the Depository Trust Company (“DTC”).
DTC is a subsidiary of the Depository Trust & Clearing Corp. that manages the electronic clearing andsettlement of publicly traded companies in the United States. Securities that are eligible to beelectronically cleared and settled through DTC are considered to be "DTC eligible". DTC eligibility isexpected to simplify the process of trading and enhance liquidity of shares in the United States byaccelerating the settlement period for transfers and reducing costs for investors.
The Company can provide no assurance that trading in its common shares will continue on the OTCMarkets Group. For quotes or additional information on the OTC Pink market, please visithttp://www.otcmarkets.com.
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, Chairman of Board, 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 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.