17:40:59 EDT Fri 12 Aug 2022
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Neonmind Biosciences Inc
Symbol NEON
Shares Issued 128,576,561
Close 2022-04-08 C$ 0.05
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ORIGINAL: Neonmind Biosciences closes $394,000 private placement

2022-04-08 16:17 ET - News Release

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File: '\\office\emailin\20220408 131216 Attachment 22.04.08 - NeonMind Closes Convertible Debenture Financing.docx'


NeonMind Closes Convertible Debenture Financing
Oakville, Ont. - April 8, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) ("NeonMind'' or the "C
--->ompany") an integrated drug development and wellness company focused on bringing innovative psychedelic-based treatmen
--->ts to people suffering from obesity and mental health disorders, is pleased to announce that on April 8, 2022 it close
--->d its private placement offering announced on March 21, 2022 (the "Offering''). Pursuant to the Offering, the Company 
--->has issued 394 units at a price of $1,000 per unit (the "Units") for gross proceeds of $394,000. Each Unit consists of
---> one unsecured convertible debenture in the principal amount of $1,000 (the "Debentures") and 3,743,000 warrants to pu
--->rchase common shares of the Company (the "Warrants"). Of the Units issued, 109 Units were issued for debt settlement. 
The Debentures bear interest at a rate of 10% per annum on an accrual basis from issuance, calculated and payable semi
--->-annually in arrears on May 31 and November 30 of each year with such payment commencing on April 8, 2022, with a rede
--->mption date that is 24 months from issuance. The Debentures will be convertible in full or in part, at the holders' op
--->tion, into common shares in the capital of the Company at a price of $0.075 per common share, at any time prior to the
--->ir redemption.  Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of 
--->$0.08 per share for a period of 36 months from the date of issue.
In connection with the closing of the Offering, the Company has paid Echelon Wealth Partners Inc. ("Echelon") a cash c
--->ommission of $14,000, and granted 133,000 warrants (the "Agent Warrants") to Echelon with each such Agent Warrant enti
--->tling the holder to purchase one common share and one share purchase warrant (each, an "AW Warrant") of the Company at
---> a price of $0.075 for a period of 24 months from the date of issue. Each AW Warrant is exercisable to purchase one ad
--->ditional common share of the company at a price of $0.08 for a period of 36 months from the date of issue of the Agent
---> Warrants. 
All the securities issued in connection with the Offering are subject to a statutory hold period lasting four months a
--->nd one day following the closing of the Offering.  All amounts are in Canadian dollars. The  net proceeds from the Off
--->ering will be used for marketing, wages, and  general working capital. No related parties participated in the Offering
About NeonMind Biosciences Inc.
NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds wi
--->th two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launch
--->ing 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. Neon
--->Mind'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 psilocybi
--->n 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 incor
--->porate evidence-backed innovative treatments to address a variety of mental health needs. For more information on Neon
--->Mind, go to www.NeonMindBiosciences.com.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
Tel: 416-750-3101
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 information. These statements relate to 
--->future events or NeonMind's future performance. The use of any of the words "could", "expect", "believe", "will", "pro
--->jected","estimated" and similar expressions and statements relating to matters that are not historical facts are inten
--->ded to identify forward-looking information and are based on NeonMind's current belief or assumptions as to the outcom
--->e and timing of such future events. Actual future results may differ materially. In particular, NeonMind's drug develo
--->pment plans, its ability to retain key personnel, and its expectation as to the development of its intellectual proper
--->ty and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual res
--->ults and developments may differ materially from those contemplated by forward-looking information. Readers are cautio
--->ned 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 in
--->formation, whether as a result of new information, future events or otherwise, except as may be expressly required by 
--->applicable securities laws.

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