VANCOUVER, British Columbia, Dec. 02, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) is pleased to announce that, further to its news release on November 28, 2022, it has closed a non-brokered private placement of (i) 666,000 pre-funded warrants of the Company (“PFWs”) at a price of $1.249 per PFW (the “PFW Offering”), and (ii) 974,000 units of the Company (“Units”) at a price of $1.25 per Unit (the “Unit Offering”), for aggregate gross proceeds of $2,049,334.
- Each Unit is comprised of one common share in the capital of the Company (a Share) and one common share purchase warrant (a Warrant).
- Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain.
- Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain.
- Bright Minds drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin.