Novamind Has Applied to Have its Common Shares Posted for Trading on the OTCQB in the United States

Rhea-AI Summary

Novamind Inc. has announced its application for trading on the OTCQB Venture Market, aiming to enhance visibility and accessibility for U.S. investors. The application for DTC eligibility will simplify trading processes for its common shares, which currently trade on the CSE and FSE. CEO Yaron Conforti highlighted this move as a significant milestone in attracting U.S. investment in Novamind's mental health initiatives, particularly in psychedelic medicine. Approval from the OTC Markets Group is required for the trading to commence.

Positive

• Application submitted to trade on the OTCQB increases visibility for U.S. investors.
• DTC eligibility application may simplify trading processes.
• CEO emphasizes importance of this move in attracting investment.

Negative

• Success contingent on approval from the OTC Markets Group and meeting eligibility requirements.

Aims to increase visibility and facilitate investment for United States investors

TORONTO, ON / ACCESSWIRE / July 21, 2021 / Novamind Inc. (CSE:NM)(OTC PINK:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to announce that it has submitted its application to have its common shares posted for trading on the OTCQB® Venture Market (the "OTCQB"), a U.S. trading platform operated by the OTC Markets Group, Inc. The Company has also applied for Depository Trust Company (DTC) eligibility which would greatly simplify the process of trading the Company's common shares.

The posting of the Company's common shares for trading on the OTCQB remains subject to the approval of the OTC Markets Group, Inc. and the satisfaction of applicable eligibility requirements. The Company currently trades and will continue to trade on the Canadian Securities Exchange ("CSE") under its existing symbol "NM" and on the Frankfurt Stock Exchange ("FSE") under its existing symbol "HN2".

"Having the Company's common shares posted for trading on the OTCQB and providing a more efficient way of trading our shares will be an important milestone in our strategy of building awareness and enhancing accessibility amongst United States investors looking for exposure to the growth potential of Novamind's mental health and psychedelic medicine business," said Yaron Conforti, CEO and Director of Novamind.

The OTCQB offers investors transparent trading in entrepreneurial and development stage U.S. and international companies that may not yet qualify for OTCQX. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. The OTCQB quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, 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.

About OTC Markets Group

OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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

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

Disclaimer

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements relating to the common shares of the Company being posted for trading on the OTCQB and other statements that are not historical facts. 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 failure to satisfy the requirements of the OTCQB and other 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/656418/Novamind-Has-Applied-to-Have-its-Common-Shares-Posted-for-Trading-on-the-OTCQB-in-the-United-States

FAQ

What is Novamind's recent application regarding NVMDF?

Novamind has applied to trade its shares on the OTCQB to enhance visibility for U.S. investors.

When did Novamind submit its application for OTCQB trading?

Novamind submitted its application on July 21, 2021.

What is the significance of DTC eligibility for NVMDF?

DTC eligibility would simplify the trading of Novamind's shares.

What stock exchanges does Novamind currently operate on?

Novamind currently trades on the Canadian Securities Exchange (CSE) and the Frankfurt Stock Exchange (FSE).

What are the requirements for Novamind to trade on the OTCQB?

Novamind must meet eligibility requirements set by the OTC Markets Group, including current reporting and minimum bid price.