NVMDF - NVMDF STOCK NEWS

Novamind Inc. has successfully completed a private placement, raising approximately CAD$5 million from an institutional investor. The placement includes the issuance of 4,750,000 common shares and 7,750,000 common share equivalents, alongside warrants allowing for the purchase of up to 12,500,000 additional shares. The exercise price for the warrants is set at CAD$0.50, valid until January 26, 2027. Proceeds will be directed towards general working capital, with no sales made to Canadian residents. This move aims to bolster the company's financial standing in the mental health sector.

Novamind has announced a private placement of common shares and warrants to raise approximately CAD$5 million. The agreement with a single institutional investor involves issuing 12,500,000 Common Shares at a price of CAD$0.40 each, along with warrants for additional shares at CAD$0.50 for five years. The funds will be utilized for general working capital. The placement is expected to close around January 26, 2022, subject to customary conditions.

Novamind (CSE:NM)(OTCQB:NVMDF) announced participation in Citi's Psychedelic Drug Video Call Series on January 25, 2022. CEO Yaron Conforti and CMO Reid Robison will engage in a discussion hosted by Neena Bitritto-Garg from Citi at 10:00 AM ET. Conforti emphasized Novamind's role as a leader in psychedelic medicine, focusing on expanding relationships with global institutional investors. The company operates a network of clinics providing ketamine-assisted psychotherapy and engages in clinical trials for innovative mental health therapies.

Novamind Inc. has successfully closed its acquisition of Arizona-based Foundations for Change, enhancing its clinic network and market presence in Arizona. The acquisition includes the issuance of 441,261 common shares and a cash payment of US$336,955 to debt holders. Foundations' founder, Jeff Edelman, will serve as Medical Director at new clinic locations, aiming to leverage Novamind's infrastructure for delivering innovative mental healthcare. This strategic expansion aligns with Novamind's mission to enhance mental wellness through psychedelic medicine.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announces a phase I clinical trial focusing on ketamine-assisted psychotherapy for adults with opioid use disorder. The study, named MORE+KAP Clinical Trial, aims to assess the safety and efficacy of ketamine in combination with Mindfulness-Oriented Recovery Enhancement (MORE). Conducted at Novamind's Murray, Utah site, the trial will involve participants receiving eight weeks of treatment, aiming to enhance the effects of buprenorphine with ketamine therapy. This initiative addresses the urgent need for effective treatments amid rising opioid-related deaths.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) has introduced a new clinic design concept aimed at enhancing the patient experience in psychedelic-assisted psychotherapy. Initially launching in Park City, Utah, the design incorporates elements such as biophilic designs, walking paths for privacy, and larger treatment rooms for group therapies. Developed with DesignAgency, the concept emphasizes a calming and healing environment tailored to patient needs. CEO Yaron Conforti highlights the commitment to a safe and inviting atmosphere for those seeking mental health treatment.

Novamind Inc. has signed a definitive agreement to acquire Foundations for Change, a mental health practice specializing in ketamine-assisted psychotherapy, for up to US$400,000 in cash and shares. The transaction, expected to close in January 2022, includes immediate cash payments of US$100,000 and three subsequent payments of US$50,000 each, contingent on continued employment of the seller, Jeff Edelman. Foundations, with a run rate of over US$800,000 and two clinics, is poised to enhance Novamind's mental health services.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announces the opening of a new clinic in downtown Salt Lake City, focusing on substance use disorders (SUD). Led by Dr. Amy de la Garza, the clinic aims to provide outpatient SUD services as an alternative to residential treatment. This initiative responds to the escalating public health crisis, highlighted by a 30% rise in drug overdose deaths in 2020. Novamind plans to collect clinical data on their treatment methodology and explore innovative group medical visit models to improve patient outcomes.

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) will present at the virtual H.C. Wainwright 2nd Annual Psychedelics Conference on December 6, 2021. CEO Yaron Conforti will participate in the Psychedelics Assisted Psychotherapy panel from 1:30 PM to 2:15 PM EST, and will provide a corporate update on the company's global expansion efforts. Novamind is focused on safe access to psychedelic medicine through its clinics and research sites, offering ketamine-assisted psychotherapy among other treatments. For event registration, visit this link.