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Novamind announces closing of CDN$5M private placement with institutional investor

Stockhouse Editorial
2 Comments| January 27, 2022

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Click to enlargeNovamind Inc. (CSE.NM) – a leading mental health company specialized in psychedelic medicine – has announced that it has closed its previously announced private placement (PP) to an institutional investor of its common shares and warrants to purchase common shares for gross proceeds to the company of approximately CDN$5 million.

Pursuant to the PP, the company issued 4,750,000 common shares, 7,750,000 common share equivalents (consisting of pre-funded warrants exercisable into common shares) and warrants to purchase up to an aggregate of 12,500,000 common shares, at a purchase price of CDN$0.40 per common share and associated warrant. Each Warrant entitles the holder to purchase common shares at an exercise price of CDN$0.50 per common share at any time on or prior to January 26, 2027.

See full news release here.


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