An anonymous director reports

MIND MEDICINE (MINDMED) INC. ANNOUNCES PRICING OF UNDERWRITTEN OFFERING OF COMMON SHARES AND CONCURRENT PRIVATE PLACEMENT

Mind Medicine (MindMed) Inc. has priced an underwritten offering of 16,666,667 common shares, no par value per share, at an offering price of $6 per common share. In addition, the company has entered into share purchase agreements for a concurrent private placement of 12.5 million common shares at a price of $6 per common share. All of the common shares are being sold by Mind Medicine. Gross proceeds to Mind Medicine from the underwritten offering and concurrent private placement, before deducting underwriting commissions, placement agent fees and other offering-related expenses, are expected to be approximately $175-million.

The private placement is with new investors Deep Track Capital and Commodore Capital. The underwritten offering includes participation from new investors Ally Bridge Group, Driehaus Capital Management, Great Point Partners LLC, Janus Henderson Investors, Marshall Wace, Octagon Capital, Soleus Capital, Special Situations Funds, Woodline Partners LP and a leading biotechnology investor associated with one of the largest alternative-asset managers.

Leerink Partners and Cantor are acting as joint bookrunning managers for the underwritten offering and placement agents for the private placement. RBC Capital Markets is acting as lead manager for the underwritten offering and placement agent for the private placement.

The underwritten offering and concurrent private placement are expected to close on or about March 11, 2024, subject to the satisfaction of customary closing conditions. The transactions are not contingent on each other. No distribution under the underwritten offering or private placement shall occur in Canada or to a person resident in Canada.

The common shares in the underwritten offering are being offered by the company pursuant to a shelf registration statement on Form S-3 (file No. 333-264648), previously filed with the United States Securities and Exchange Commission (SEC) on May 4, 2022, and declared effective by the SEC on May 16, 2022, a related registration statement that was filed with the SEC on March 7, 2024, pursuant to Rule 462(b) under the Securities Act of 1933 (and which became automatically effective upon filing), and a base prospectus dated May 16, 2022.

When available, the prospectus supplement relating to, and describing the terms of, the underwritten offering will be filed with the SEC and will also be available on the SEC's website or on SEDAR+. When available, copies of the final prospectus supplement and the accompanying prospectus relating to the underwritten offering may be obtained for free from Leerink Partners LLC, attention: syndicate department, 53 State St., 40th floor, Boston, Mass., 02109, by telephone at 800-808-7525, extension 6105, or by e-mail at syndicate@leerink.com, or from Cantor Fitzgerald & Co., attention: capital markets, 110 East 59th St., sixth floor, New York, N.Y., 10022, or by e-mail at prospectus@cantor.com.

About Mind Medicine (MindMed) Inc.

Mind Medicine is a clinical-stage biopharmaceutical company developing novel product candidates to treat brain-health disorders. The company's mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. Mind Medicine is developing a pipeline of innovative product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain-health disorders.

We seek Safe Harbor.