HomeHealthMedicineClearmind Announces Notice of Proposed Stock Consolidation

Clearmind Announces Notice of Proposed Stock Consolidation

VANCOUVER, Sept. 25, 2022 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (CSE: CMND), (OTC Pink: CMNDF), (FSE: CWY0) (“clear mind” or the “Company“), a biotech company focused on the discovery and development of new psychedelic-derived therapies to solve major undertreated health problems, announces it will consolidate all of the company’s issued and outstanding common stock (“Normal stocks“) based on one (1) ordinary share after consolidation for every thirty (30) ordinary shares before consolidation (the “consolidation“).

The Corporation’s Board of Directors has determined September 30, 2022 as the effective date of the consolidation. Trading of the common stock on a post-consolidation basis on the Canadian Securities Exchange (the “CSE“) begins on or about October 3, 2022. The company’s name and trade symbol remain unchanged.

The 39,592,344 Ordinary Shares currently issued and outstanding will be reduced to approximately 1,319,744 Ordinary Shares upon consolidation. No fractional shares will be issued. A fractional interest in Ordinary Shares will be rounded up to the nearest whole Ordinary Share.

Transfer letters will be sent to registered Shareholders and registered Shareholders will be required to deposit their share certificates, along with the duly completed transfer letter, with Computershare Investor Services Inc., the registrar and transfer agent of the Company. Unregistered Shareholders holding Ordinary Shares through an intermediary (a stockbroker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Consolidation than those to be put in place by the Company for registered Shareholders . If Shareholders hold their Ordinary Shares through intermediaries and have questions about this, they are encouraged to contact their intermediaries.

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Outstanding stock options and stock purchase warrants will also be adjusted according to the consolidation ratio and the respective exercise prices of outstanding options and stock purchase warrants will be adjusted accordingly.

About Clearmind Medicine Inc.

Clearmind is a psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapies to address widespread and undertreated health problems, including alcohol use disorders. Its primary goal is to research and develop psychedelic-based compounds and commercialize them as controlled drugs, foods, or supplements.

The company’s intellectual portfolio currently consists of seven patent families. The company plans to obtain additional patents for its compounds as needed and will remain opportunistic in acquiring additional intellectual property to build its portfolio.

Shares of Clearmind are listed for trading on the Canadian Securities Exchange under the symbol “CMND“, the Frankfurt Stock Exchange under the symbol “CWYO” and on the OTC markets under the symbol “CMNDF“.

For more information, please contact:
investor relations,
Email: invest@clearmindmedicine.com
Phone: (604) 260-1566
General questions,
Info@Clearmindmedicine.com
www.Clearmindmedicine.com

FORWARD-LOOKING STATEMENTS:

This press 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 performance to differ materially from those implied by such statements. Such statements include 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 assurance that any of these events will occur. While such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

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Investing in start-up companies inherently carries a high level of risk, and investments in securities of the Company will be considered highly speculative.

This press release does not constitute an offer to sell or a solicitation of an offer to purchase, nor will there be any sale of the securities in any province where such offer, solicitation or sale would be unlawful. The securities issued or to be issued under the Private Placement have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

Neither the Canadian Securities Exchange (the “CSE”) nor its Regulatory Services Provider (as that term is defined in the CSE’s policies) assumes any responsibility for the suitability or accuracy of this release.

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