Vancouver, September 25, 2022 (GLOBE NEWSWIRE) – Clearmind Medicine Inc. (CSE: CMND), (OTC Pink: CMNDF), (FSE: CWY0) (“clear mind“or the”a company“), a biotechnology company focused on the discovery and development of new drug-derived therapies to solve major health problems being treated, and announces that it will consolidate all issued and outstanding common stock in the company (“)Ordinary share“) on the basis of one (1) common share after consolidation for every thirty (30) common shares prior to consolidation (“)merge“).
The Board of Directors of the Corporation has set September 30, 2022 as the effective date of the consolidation process. Trading common stock on a post-consolidation basis on the Canadian Stock Exchange (“custom search engine”) on or about October 3, 2022. The company name and trading symbol will remain unchanged.
39,592,344 issued and outstanding ordinary shares will be reduced to approximately 1,319,744 ordinary shares on a post-consolidation basis. Fractional shares will not be issued. Any partial share of common stock will be rounded to the nearest full common share.
An Attribution Letter will be mailed to Registered Shareholders and Registered Shareholders will be required to deposit their share certificate(s), along with a duly completed Letter of Attribution, with Computershare Investor Services Inc. Company Registrar and Transfer Agent. Non-registered shareholders who own common stock through an intermediary (a stockbroker, dealer, bank, or financial institution) should be aware that the intermediary may have different procedures to address consolidation than the corporation would establish for registered shareholders. If shareholders own their common stock through brokers and have questions in this regard, we encourage them to contact their brokers.
The outstanding stock options and stock purchase orders will also be adjusted by the consolidation ratio and the relevant exercise prices for the outstanding options and stock purchase orders will be adjusted accordingly.
About Clearmind Medicine Inc.
Clearmind is a psychedelic biotechnology company focused on the discovery and development of new drug-derived therapies to solve widespread and underserved health problems, including alcohol use disorder. Its primary purpose is to research, develop, and attempt to market narcotic-based compounds as regulated medicines, foods, or supplements.
The company’s intellectual portfolio currently consists of seven patent pools. The company intends to seek additional patents for its complexes as required and will remain opportunistic regarding obtaining additional intellectual property to build its portfolio.
Clearmind shares are listed for trading on the Canadian Stock Exchange under the symbol “CommandFrankfurt Stock Exchange under the symbol.CWYO“And in the OTC markets under the symbol”CMNDF“.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to be materially different from those implied by such statements. This data includes submitting the relevant documentation within the required time frame to the satisfaction of the relevant regulators and raising sufficient funding to complete the company’s business strategy. There is no certainty that any of these events will occur. Although these statements are based on management’s reasonable assumptions, there can be no assurance that these assumptions will prove to be correct. We assume no responsibility to update or revise it to reflect new events or conditions.
Investing in early stage companies inherently involves a high degree of risk, and investing in company securities is highly speculative.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any county where such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the private placement, have not been registered under the United States Securities Act of 1933, as amended, will not be registered, and may not be offered or sold in the United States in the absence of registration or applicable exemption from registration requirements.
No Canadian Stock Exchange (“custom search engine‘) or the Regulatory Service Provider (as this term is defined in the CSE Policies) accepts responsibility for the adequacy or accuracy of this version.