Bright Mind Biosciences - CEO, Ian McDonald
CEO, Ian McDonald
Source: Psychedelic Spotlight
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  • Bright Minds Biosciences (DRUG) has announced a non-brokered private placement of gross proceeds of $2,050,000
  • The private placement involves pre-funded warrants of the company (PFW) issued at a price of $1.249 per PFW, and units of the company issued at a price of $1.25 per unit
  • Bright Minds plans to use the aggregate gross proceeds from the offering to complete the Phase 1 clinical trial for BMB-101 and a regulatory toxicology package
  • Bright Minds is focused on developing novel transformative treatments for neuropsychiatric disorders, epilepsy, and pain
  • Bright Minds Biosciences Inc. opened trading at $1.35 per share

Bright Minds Biosciences (DRUG) has announced a non-brokered private placement of gross proceeds of $2,050,000.

The private placement involves pre-funded warrants of the company (PFW) issued at a price of $1.249 per PFW and units issued at a price of $1.25 per unit.

The total minimum gross proceeds of the unit offering and the PFW offering, on a combined basis, is $1,000,000 and the aggregate maximum gross proceeds of the unit offering and the PFW offering, on a combined basis, is $2,050,000.

Each PFW is exercisable into one unit at an exercise price of $0.001 per unit.

Each unit will be made up of one common share in the capital of the company and one common share purchase warrant.

Each warrant will entitle the holder thereof to acquire one additional share at a price of $1.35 per warrant share for a period of 24 months from the closing date.

Bright Minds plans to use the aggregate gross proceeds from the PFW offering and the unit offering to complete the Phase 1 clinical trial for BMB-101 and a regulatory toxicology package and related activities for BMB-202.

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 Biosciences Inc. opened trading at $1.35 per share.


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