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Neonmind Biosciences Inc
Symbol NEON
Shares Issued 128,576,561
Close 2022-04-11 C$ 0.05
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ORIGINAL: Neonmind to roll back shares one for four

2022-04-11 19:07 ET - News Release

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File: '\\office\emailin\20220411 155947 Attachment April 11, 2022 - NeonMind Announces Share Consolidation (1).docx'


NeonMind Announces 4:1 Share Consolidation
Oakville, Ontario - April 11, 2022: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) ("NeonMind'' or th
--->e "Company") an integrated drug development and wellness company focused on bringing innovative psychedelic-based trea
--->tments to people suffering from obesity and mental health disorders, announces that it intends to consolidate its issu
--->ed and outstanding common shares of the Company ("Common Shares") on the basis of four (4) post-consolidation Common S
--->hare for each one (1) pre-consolidation Common Shares (the "Consolidation").
The Company's board of directors set April 19, 2022 as the record date of the Consolidation. Trading of the Common Sha
--->res on a post-Consolidation basis on the Canadian Securities Exchange (the "CSE") is expected to commence on or about 
--->April 18, 2022. The Company's name and trading symbol will remain unchanged.
The Company currently has 128,576,561 Common Shares issued and outstanding. Following the Consolidation, there will be
---> approximately 32,144,140 Common Shares issued and outstanding. No fractional shares will be issued. Any fractional in
--->terest in Common Shares that is less than 0.5 of a Common Share resulting from the Consolidation will be rounded down 
--->to the nearest whole Common Share and any fractional interest in Common Shares that is 0.5 or greater of a Common Shar
--->e will be rounded up to the nearest whole Common Share.
In accordance with the Company's Articles, the Consolidation will not require approval of the shareholders.
A letter of transmittal will be mailed to registered shareholders providing instructions with respect to surrendering 
--->certificates representing pre-Consolidation Common Shares in exchange for post-Consolidation Common Shares issued as a
---> result of the Consolidation. Until surrendered, each certificate representing pre-Consolidation Common Shares will be
---> deemed to represent the number of post-Consolidation Common Shares the holder received as a result of the Consolidati
--->on. Shareholders who hold their Common Shares in brokerage accounts or in book-entry form are not required to take any
---> action.
Outstanding NeonMind stock options, share purchase warrants, and restricted share units will also be adjusted by the C
--->onsolidation ratio and the respective exercise prices of outstanding options and share purchase warrants will be adjus
--->ted accordingly.
The Consolidation is subject to the acceptance of the Canadian Securities Exchange.

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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