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InMed Pharmaceuticals has announced the end of $ 5 million registered direct and private placements priced in the market under the Nasdaq rules of the Canadian Business Journal.

Vancouver, British Columbia, June 6, 2022 (GLOBE NEWSWIRE) — InMed Pharmaceuticals Inc. (“”InMed” or “Company“) (Nasdaq: INM) Is a leader in the research, development, manufacture and commercialization of rare cannabinoids, with the end of the previously announced registered direct offering today and simply priced on the market under Nasdaq rules. Announced a simultaneous private placement with institutional investors focusing on one healthcare. We issued 4,079,256 common shares in a registered direct offer at a purchase price of $ 0.858 per share (or instead, a pre-funded warrant). In a simultaneous private placement, InMed issued 1,748,250 shares of common stock (or instead pre-funded warrants) and sold them to investors at the same purchase price as the registered direct placement. In addition, we issued unregistered preferred investment options (“Investment Options”) to investors and purchased a total of 5,827,506 shares of common stock. The total revenue to us for both offerings was approximately $ 5 million. We will use the net revenue from our offerings for continued pipeline development, promotion of commercial activities, and general working capital purposes.

HC Wainwright & Co. Acted as the exclusive deployment agent for the offering.

Unregistered investment options issued at the offering can be exercised at an exercise price of $ 0.74 per share immediately after issuance and will expire six and a half years from the date of issue.

We have also modified certain existing warrants to purchase up to a total of 4,480,771 shares of our common stock previously issued to investors. The exercise price is $ 2.884 to $ 5.11 per share and is valid from July 2nd to November 16th, 2026. Effective at the end of the registered direct offer in 2026, the revised warrant’s strike price has been reduced by $ 0.74 per share and cannot be exercised until 6 months after the end of the registered direct offer, 7 after the end. It expires in a year. Registered direct offer.

Common stock, pre-funded warrants and common stock underlying pre-funded warrants (excluding common stock and pre-funded warrants sold in private offerings and investment options, as well as common stock underlying investment options sold in offerings). ) By InMed in accordance with the “Shelves” registration statement on Form S-3 (333-262532), including a basic prospectus previously submitted and declared to the Securities and Exchange Commission (“SEC”) on February 4, 2022. Offered and sold. Effective February 11, 2022 by the SEC. The offering and pre-funding warrants for common stock issued through registered direct offerings were made solely by supplementing the prospectus that forms part of the registration statement. Supplementary and accompanying basic prospectuses related to the registered direct recruitment have been submitted to the SEC and are available on the SEC’s website at http://www.sec.gov. HC Wainwright & Co for a supplement to the prospectus and an electronic copy of the accompanying basic prospectus. Also available from LLC (430 Park Avenue, 3).rd Floor, New York, New York 10022, Phone (212) 856-5711 or Email [email protected]..

The unregistered common stock, pre-funded warrants and investment options sold in the above offering were provided in a private placement under the Securities Act of 1933 (“Act”) and Sections 4 (a) (2) of the Regulations. D is promulgated under it and is not registered under law or applicable state securities law, along with pre-funded warrants and common stock underlying investment options. Therefore, common stock, pre-funded warrants, investment options, and common stock underlying pre-funded warrants and investment options may not be offered or sold in the United States unless registered with the SEC or an applicable exemption from such registration. you can’t. Requirements. Securities were offered only to accredited investors. In accordance with the registration rights agreement with the investor, the Company submits to the SEC one or more registration statements covering the resale of unregistered common stock and shares that can be issued by exercising unregistered pre-funded warrants and investment options. I agreed to do it.

This press release does not constitute an offer to sell or buy these securities, and these securities in states or jurisdictions where such offer, solicitation, or sale is illegal prior to registration. There is no sale. Qualifications under securities law in such states or jurisdictions.

About InMed: InMed Pharmaceuticals is a world leader in the research, development, manufacture and commercialization of rare cannabinoids. Together with its subsidiary BayMedica LLC, we have unmatched cannabinoid production capabilities, serving a variety of consumer markets including pharmaceuticals, health and wellness. InMed is also a clinical phase company dedicated to developing a pipeline of rare cannabinoid therapies and providing patients with new treatment options that may benefit from cannabinoid-based medicines. For more information, please visit www.inmedpharma.com and www.baymedica.com.

Investor Contact:
Colin Clancy
Investor Relations Vice President
And corporate communication
T: +1.604.416.0999
E: [email protected]

Notes on future prospects:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. .. Forward-looking information is based on management’s current expectations and beliefs, and many risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. Be affected. Information about the future outlook for this news release includes the following: InMed submits a registration notification to the SEC for resale of unregistered common stock and shares that can be issued by exercising unregistered pre-funded warrants and investment options. Being a world leader in the research, development, manufacture and development of rare cannabinoids. It provides patients with new treatment options that may benefit from cannabinoid-based medicines.

With respect to the forward-looking information contained in this news release, InMed makes many assumptions, especially with respect to: Ability to obtain timely or no regulatory approval for all required. Continued economic and market stability. InMed considers these assumptions reasonable, but these assumptions are subject to materially significant business, economic, competitive, market and social uncertainties and contingencies.

In addition, known and unknown risk factors that InMed’s actual results, performance, or outcomes may differ materially from future outcomes, performances, or outcomes expressed or implied by the forward-looking information contained herein. there is. A complete discussion of the risks and uncertainties faced by InMed’s stand-alone business is disclosed in InMed’s annual report on Form 10-K and other filings with the US Securities and Exchange Commission at www.sec.gov. I am.

All forward-looking information contained herein is fully modified by this notice and InMed is obligated to revise or update such forward-looking information, or the future contained herein. We are not obligated to publish the revised results of the information regarding the outlook for. To reflect future results, events, or developments, except as required by law.


CBJ News Maker

InMed Pharmaceuticals has announced the end of $ 5 million registered direct and private placements priced in the market under the Nasdaq rules of the Canadian Business Journal.

Source link InMed Pharmaceuticals has announced the end of $ 5 million registered direct and private placements priced in the market under the Nasdaq rules of the Canadian Business Journal.

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