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Mynd Life Sciences Terminates Proposed Transaction with Tidal Psychedelics

June 29, 2022 8:32 PM EDT

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Vancouver, British Columbia--(Newsfile Corp. - June 29, 2022) - Mynd Life Sciences Inc. (CSE: MYND) (OTCQB: MYNDF) ("Mynd" or the "Company") announces that it has terminated the non-binding memorandum of understanding ("MOU") to acquire all the issued and outstanding shares of Tidal Care Inc. o/a Tidal Psychedelics ("Tidal") as disclosed in Mynds's March 16, 2022 press release, due to differences in the strategic direction of the proposed acquisition. Mynd has advised Tidal of the termination of the MOU, and the parties have formally agreed to terminate the MOU.

Further to its press release dated April 21, 2022, Mynd still intends to undertake a non-brokered private placement offering (the "Offering") of common shares in share capital of the Company to raise gross proceeds of a minimum of $3,000,000 up to $3,500,000, or such other amounts as may be determined by the Company. The closing of the Offering is no longer subject to and conditional upon closing of the purchase by the Company of all of the issued and outstanding shares in the share capital of Tidal.

ABOUT MYND LIFE SCIENCES INC.

MYND Life Sciences Inc. is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. MYND is developing new biological entities (NBEs) and new chemical entities (NCEs) and differentiates itself from other (bio)pharmaceutical companies by unique molecular concepts for the applications of Psilocybins for overcoming disease. The Company advances pharmaceutical developments through rigorous science and clinical trials while diligently patenting and safeguarding its intellectual property.

For more information and to subscribe to MYND's mailing list, please visit https://myndsciences.com/contact/.

CONTACT INFORMATION

Dr. Lyle Oberg, MD, CEO
Email: [email protected]
Phone: +1 (780) 965-0122
Web: www.myndsciences.com

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Mynd to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129542



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