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Psychedelic drug developer Clearmind Medication (OTCPK:CMNDF) (OTC:CMND) has filed to boost as much as $14M by way of a US preliminary public providing.
The Canadian firm filed to supply an undisclosed variety of models, with every unit consisting of 1 share plus one warrant to purchase one share. Whereas pricing wasn’t disclosed, a submitting payment schedule indicated the corporate was in search of to boost as much as $7M by way of the share providing and one other $7M by way of the train of warrants.
Clearmind has utilized to checklist its shares on Nasdaq. Its inventory is already traded on the Canadian Securities Trade beneath the image CMND. Its additionally traded on the Frankfurt change.
Aegis Capital is serving as sole bookrunner on the deal.
Clearmind has been centered on growing psychedelic medicines for the therapy of circumstances reminiscent of binge ingesting and consuming problems. The corporate hopes to start Part I/IIa testing of its lead drug candidate, MEAI, later this 12 months.
The corporate remains to be working within the pink. For fiscal 2021, Clearmind reported a web lack of $3.7M with no income.
Earlier this month, Clearmind introduced it had employed a brand new chief monetary officer. The corporate additionally introduced that it and accomplice SciSparc (SPRC) had filed for a provisional patent to cowl their new psychedelic-derived therapy for cocaine habit.
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