NeonMind Responds to OTC Markets Request on Recent Promotional Activity
NeonMind Responds to OTC Markets Request on Recent Promotional Activity
Oakville, Ont. – March 24, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF)
(“NeonMind'' or the “Company”) has been requested by OTC Markets Group Inc. (“OTC Markets”) to
issue this statement about promotional activity concerning the Company’s common shares.
On March 22, 2022, OTC Markets informed NeonMind that it was aware of certain promotional
activities concerning the Company and its common shares traded on the OTC Marketplace, including the
distribution of a promotional newsletter e-mail published by TD Media LLC (“TD Media”) discussing the
Company, its business and corporate highlights, a strategic partnership and its lead drug candidates. The
publication also contained summaries of recent news releases issued by NeonMind, as well as an
interview clip with NeonMind's President and CEO, Rob Tessarolo, that was produced and published by
Business Television on May 4, 2021. This video and accompanying article can be viewed on Business
Television’s website at: https://b-tv.com/neonmind-biosciences-psychedelics-btv-ep-359/. OTC Markets
provided examples of the promotional material for reference. The Company was aware of the
newsletters before receiving them from OTC Markets.
TD Media is a third-party marketing and advertising firm retained by the Company to provide content
distribution and advertising services. Each of the newsletters presented factual statements regarding
the Company, its business and industry. The Company provided TD Media with publicly available source
information but did not have editorial control over the newsletters and did not review them for factual
accuracy prior to their dissemination. Regardless, the Company does not believe the statements in the
newsletters were false or misleading.
Neither TD Media nor any of its principals currently owns any securities, directly or indirectly, of the
Company or has any intention to acquire any securities of the Company.
NeonMind previously disclosed the existence of an agreement with TD Media dated January 4, 2021,
pursuant to which the Company engaged TD Media to provide investor outreach and increase traffic to
the Company’s website, to both OTC Markets and the public in the Company’s OTCQB Certification
dated May 17, 2021.
The Company understands that the recent promotional activity may have coincided with increased
trading activity in the Company's common shares beginning on March 22, 2022. The Company believes
the promotional activities may have been a factor in the recent increase in trading volume in the
Company's common shares. However, the Company also attributes the increase to a news release
issued by NeonMind on March 22, 2022, which investors can find on SEDAR and on the Company's
website at: https://www.neonmindbiosciences.com/news/press-releases/detail/48/neonmind-files-
new-provisional-patent-application-covering
None of the Company's executive officers, directors or, to the knowledge of the Company, any
controlling shareholders and third-party service providers, sold or purchased shares of the Company
since December 29, 2021.
In the last 12 months, the Company has worked with KCSA Strategic Communications, The Dales Report
Inc., Business Television, Independent Trading Group, HE Capital Markets, Benzinga, and Aktiencheck.de
AG, to provide investor relations, public relations services, marketing or other related services. The
Company also has had Alexandra Dumanski perform investor relations work in her personal capacity.
OTC Markets has further requested that the Company state whether it has issued any shares or
convertible instruments allowing conversion to equity securities at prices constituting a discount to the
current market rate at the time of the issuance. Since NeonMind’s common shares were listed on the
Canadian Securities Exchange on December 29, 2020, it has not issued common shares or convertible
instruments at a discount to the market price at the time of the offering.
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of
psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a
medical services division focused on launching specialty mental health clinics that integrate psychedelic
therapeutics into traditional psychotherapy settings.
In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs
targeting obesity. NeonMind's lead candidate, NEO-001, employs psilocybin as an agonist at the
serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The
Company's second 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 in
Canada that incorporate evidence-backed innovative treatments to address a variety of mental health
needs. For more information on NeonMind, go to www.NeonMindBiosciences.com.
Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
Tel: 416-750-3101
Investor Relations:
KCSA Strategic Communications
Scott Eckstein/Tim Regan
Tel: 212-896-1210
The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news
release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward- looking informati on. These
statements 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 and are based
on NeonMind's current belief or assumptions as to the outcome and timing of such future events. Actual
future results may differ materially. In particular, NeonMind's drug development plans, its ability to retain
key personnel, and its expectation as to the development of its intellectual property and other steps in its
preclinical and clinical drug development constitute forward- looking information. Actual results and
developments may differ materially from those contemplated by forward- looking information. Readers
are cautioned not to place undue reliance on forward- looking information. The statements made in this
press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, except as may be expressly required by applicable securities laws.