MindBio Announces Upsize to Private Placement up to $1.5 Million

Executive Summary

• MindBio Therapeutics Corp. announced an upsized non‑brokered private placement, increasing the target from $650,000 to up to $1,500,000.
• The company will issue up to 2,500,000 units at $0.60 per unit, each unit consisting of one common share and one warrant to purchase an additional share at $0.80 for 36 months.
• Completion remains subject to final board and regulatory approvals; finders’ fees will be paid to parties introducing subscribers.

Key Details

• Offering Size: Increased from $650,000 to up to $1,500,000 gross proceeds.
• Units Offered: Up to 2,500,000 units at $0.60 per unit.
• Unit Composition: 1 common share + 1 warrant per unit.
• Warrant Terms: Right to purchase an additional share at $0.80; exercisable for 36 months after closing; accelerated expiry if CSE share price exceeds $1.00 for ten consecutive trading days.
• Resale Restrictions: All securities subject to a four‑month‑and‑one‑day lock‑up period.
• Finders’ Fees: Company will pay fees to eligible third parties who introduce subscribers.
• Approvals Required: Final board approval and regulatory clearance pending.

Notable Quotes

(No executive quotes were included in the release.)