Novamind Announces DTC Eligibility for its Common Shares

Rhea-AI Summary

Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) announced its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the U.S. This eligibility facilitates faster stock and cash transactions, benefiting investors by accelerating settlement processes. CEO Yaron Conforti emphasized that this step enhances liquidity and bolsters Novamind's presence in the U.S. capital markets. The company focuses on psychedelic medicine, offering treatments through its network of clinics and clinical research sites.

Positive

• Shares are now DTC eligible, improving liquidity and access.
• Accelerated settlement process will benefit investors.
• Increased presence in U.S. capital markets.

Negative

• None.

TORONTO, ON / ACCESSWIRE / September 24, 2021 / Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the U.S.

The DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered ‘DTC eligible'. This electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process for investors and brokers.

"We are pleased to have become DTC eligible. Investors will benefit from the accelerated settlement process and ability to trade Novamind shares through a wide range of U.S. brokerage firms," said Yaron Conforti, Chief Executive Officer and Director of Novamind. "This is an important step towards increased liquidity for our stock and building a strong presence for Novamind in the U.S. capital markets."

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

SOURCE: Novamind Inc.

View source version on accesswire.com:
https://www.accesswire.com/665376/Novamind-Announces-DTC-Eligibility-for-its-Common-Shares

FAQ

What is Novamind's recent announcement regarding DTC eligibility?

Novamind announced that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the U.S.

How does DTC eligibility affect Novamind's shares?

DTC eligibility allows for faster transactions and settlement processes, which can enhance liquidity for Novamind's shares.

What benefits does DTC eligibility provide for investors?

Investors will benefit from an accelerated settlement process and the ability to trade Novamind shares through a wider range of U.S. brokerage firms.

What type of company is Novamind?

Novamind is a mental health company specializing in psychedelic medicine, providing treatments through clinics and conducting clinical research.

When was Novamind's DTC eligibility announced?

The DTC eligibility was announced on September 24, 2021.