NEW YORK, April 17, 2020 /PRNewswire/ -- Mind Medicine (MindMed) Inc. (NEO: MMED)(OTC:MMEDF)(DE: BGHM) (the "Company" or "MindMed"), the leading psychedelic pharmaceutical company, is pleased to announce that the Company has graduated from the OTC Pink Open Market to the OTCQB Venture Market ("OTCQB"). MindMed's subordinate voting shares will commence trading on the OTCQB in the United States at the open of the market on April 17, 2020, under the symbol "MMEDF". The Company's subordinate voting shares will continue to trade in Canada on the NEO Exchange under the symbol "MMED" and the quotation board of the Frankfurt Stock Exchange under the symbol "BGHM".
"Qualifying for trading on the OTCQB was a key part of our international plan for growth," said MindMed Co-Founder and Co-CEO, JR Rahn. "We are very excited to start trading on the OTCQB as it will increase the Company's visibility to U.S. investors and improves liquidity for our shareholders."
While trading on the OTC Pink Open Market requires no filing or financial requirements, companies must meet a minimum bid price test, be current in their financial reporting and undergo an annual verification and management certification process to be eligible for the OTCQB. The quality standards of the OTCQB ensure that investors have the information necessary to intelligently analyze, value and trade their securities.
Mind Medicine (MindMed) Inc. (NEO: MMED)(OTC:MMEDF)(DE: BGHM) is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company's immediate priority is to address the opioid crisis by developing a non- hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.
Cautionary Statements and Disclaimer: This news release contains "forward-looking information" and "forward-looking statements", which may include, but is not limited to, statements with respect to anticipated business plans or strategies of MindMed. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative 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 involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in MindMed's management's discussion and analysis for the period from May 30, 2019, date of incorporation, to December 31, 2019, dated March 30, 2020, which is available on MindMed's website and the company's profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.