InMed Pharmaceuticals Announces $6 Million Private Placement at Premium to Market, Canadian Business Journal

VANCOUVER, British Columbia, September 9, 2022 (GLOBE NEWSWIRE) — InMed Pharmaceuticals Inc.Immed” or “Company”) (Nasdaq: INMA leader in research, development and manufacturing of rare cannabinoids, today entered into securities purchase agreements with two healthcare-focused institutional investors to issue and sell 691,245 shares of its common stock at $8.68. announced that it has been concluded. per his share (or alternatively pre-funded warrants) in a private placement priced in the market under Nasdaq rules. In addition, the Company has agreed to issue unregistered preferred investment options (“Investment Options”) to investors to purchase up to an aggregate of 1,382,490 shares of its common stock. The total value of the private placement to the Company is expected to be approximately $6 million. The offering is expected to close on or about September 13, 2022, subject to customary closing conditions. The Company will use net proceeds from the public offering to continue developing its pipeline of drug candidates, advance its cannabinoid and cannabinoid analogue manufacturing know-how, support intellectual property development and other commercial activities, and for general working capital purposes. I plan to use it.

HC Wainwright & Co. is acting as the exclusive placement agent for this offering.

Unregistered investment options issued in the public offering are exercisable immediately upon issuance at an exercise price of $8.44 per share and expire seven years from the date of issuance.

Additionally, private investors have agreed to cancel preferred investment options previously issued to investors to purchase up to a total of 412,331 shares of the Company’s common stock.

The unregistered shares of common stock, pre-funded warrants and investment options sold in the above offering are subject to the Securities Act of 1933 (the “Act”) and Section 4(a) of the Regulations, Section 4(a)(2). 2) was solicited through a private placement. D, together with the common stock underlying the pre-funded warrants and investment options promulgated thereunder, are not registered under any law or under applicable state securities laws. Common stock, prefunded warrants, investment options, and common stock underlying prefunded warrants and investment options may not be offered or sold in the United States without registration with the SEC. ) or applicable exemptions from such registration requirements. Securities were offered only to accredited investors. Pursuant to our registration rights agreements with our investors, we will submit one or more registration statements to the SEC covering resale of unregistered shares of common stock and unregistered pre-funded warrants and shares issuable upon exercise of investment options. I agree to submit to

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor does such offer, solicitation or sale prior to registration or registration be illegal in any state or jurisdiction where such offer, solicitation or sale is unlawful. may not sell securities of Eligibility under the securities laws of such state or jurisdiction.

About Immed:

InMed Pharmaceuticals is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs for the treatment of diseases with high unmet medical need. We also have significant know-how to develop unique manufacturing approaches to produce cannabinoids for various market sectors. For more information, please visit www.inmedpharma.com.

Investor Contact:
Colin Clancy
Vice President of Investor Relations
Phone: +1.604.416.0999
E: [email protected]

Cautionary Note Regarding Forward-Looking Statements:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. Affected. Forward-looking information in this news release includes statements regarding: Use of Net Proceeds from Offerings. InMed’s filing of a registration statement with the SEC. Intended for resale of unregistered common stock and shares issuable upon exercise of unregistered pre-funded warrants and investment options. To be a world leader in the research, development, manufacturing and development of rare cannabinoids. We offer new treatments to patients who may benefit from cannabinoid-based medicines.

With regard to the forward-looking information contained in this news release, InMed makes a number of assumptions regarding, among other things: to terminate the Offering in a timely manner under the terms and conditions set forth herein, or not to terminate at all; Continued economic and market stability. While InMed believes these assumptions are reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.

In addition, there are known and unknown risk factors that could cause InMed’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by any forward-looking information contained herein. there is. A complete description of the risks and uncertainties facing InMed’s business is disclosed in his InMed Annual Report on Form 10-K and other filings with the SEC at www.sec.gov .

All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and InMed undertakes no obligation to revise or update such forward-looking information or We disclaim any obligation to publish the results of revisions to forward-looking information that may be published. to reflect future results, events or developments, except as required by law;

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