NeonMind Commences Trading Under CSE Ticker Symbol "NEON"
Vancouver, British Columbia--(Newsfile Corp. - January 4, 2021) - NeonMind Biosciences Inc. (CSE: NEON) ("NeonMind") is pleased to announce that its common shares have today commenced trading on the Canadian Securities Exchange (the "Exchange") under the ticker symbol "NEON". More information on NeonMind can be found at www.neonmindbiosciences.com.
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NeonMind completed its oversubscribed Initial Public Offering on December 30, 2020, for gross proceeds of $4,600,000.
NeonMind is a psychedelic drug development company. It's mission is to help people change their lives by changing their minds, through treatment with psychedelics.
NeonMind’s initial focus is on one of the biggest health issues the world is facing right now: obesity. It’s an epidemic that is responsible for 37% of the global burden of disease, according to the National Centre for Biotechnology Information. NeonMind is exploring the use of psilocybin (a complex organic compound found in psychedelic mushrooms) as a potential treatment for weight loss through a preclinical trial. It has hired the University of British Columbia, which has been granted authorization by Health Canada to use Psilocybin in NeonMind’s Preclinical Trial, to test the potential use of psilocybin to improve eating habits and cause weight loss. The Preclinical Trial started in November 2020 and NeonMind expects to complete an application for a Phase 2 Human Trial in the spring of 2021.
NeonMind has filed 5 US provisional patent applications claiming methods of aiding in weight loss, treating compulsive eating disorder, treating obesity or a complication of obesity, and/or altering the diet of an individual by administering psilocybin and/or other psychedelic compounds or their analogs or by administering psilocybin or its analog in conjunction with therapy or other treatments.
NeonMind is also pursuing commercialization of its catalogue of proprietary medicinal mushroom product formulas. It recently launched a collection of four mushroom infused coffees which are infused with medicinal mushrooms Lion's Mane, Turkey Tail, Reishi and Cordyceps. The NeonMind eCommerce platform launched in November 2020 at www.neonmind.com for direct to consumer sales of these products.
"Our public listing is a significant milestone for us as we execute on our plan to grow our intellectual property portfolio and product development pipeline," says NeonMind founder and CEO, Penny White, "We are extremely grateful to the investment community for their participation in our successful public offering and we look forward to strategically increasing shareholder value as we advance our business in the psychedelic sector."
As part of NeonMind's disclosure obligations as a reporting issuer, ongoing financial and material filings can be found on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
Penny White, President & CEO
604 617 7979
The Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind's future performance. The use of any of the words "could", "expect", "believe", "will", "projected","estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on NeonMind's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind's stated use of proceeds and its expectation as to the continuation of its preclinical trial, development of its intellectual property and other steps in its drug development. constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
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