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Bright Minds Biosciences Announces Closing of Non-Brokered Private Placement

Retrieved on: 
Saturday, December 3, 2022

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.

Key Points: 
  • 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.

Bright Minds Biosciences Announces Non-Brokered Private Placement

Retrieved on: 
Monday, November 28, 2022

VANCOUVER, British Columbia, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (NASDAQ:DRUG) (“Bright Minds” or the “Company”) is pleased to announce a non-brokered private placement of (i) pre-funded warrants of the Company (“PFWs”) at a price of $1.249 per PFW (the “PFW Offering”), and (ii) units of the Company (“Units”) at a price of $1.25 per Unit (the “Unit Offering”).The aggregate minimum gross proceeds of the Unit Offering and the PFW Offering, on a combined basis, is $1,000,000 (the “Minimum Offering”) and the aggregate maximum gross proceeds of the Unit Offering and the PFW Offering, on a combined basis, is $2,050,000. The Company, in its sole discretion, may determine the number of PFWs issued pursuant to the PFW Offering and the number of Units issued pursuant to the Unit Offering, provided that the aggregate proceeds raised is equal to or above the Minimum Offering amount.

Key Points: 
  • The Unit Offering and the PFW Offering may close on one or more dates as the Company may determine.
  • 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.