Mindbio arranges financing for up to $1.1-million

Executive Summary

• Mindbio Therapeutics Corp. announced a non-brokered private placement to raise up to $1.1 million through the issuance of units to accredited investors and listed issuer financing participants.
• The company reported the final completion of clinical software development related to a previously announced acquisition, issuing 87,500 post-consolidation warrants to the vendor as consideration.
• Proceeds will be used to advance AI prediction technologies for drug/alcohol intoxication detection and for general working capital, with a prototype expected within 4-6 months.

Key Details

• Financing Structure:
  • Total Gross Proceeds: Up to $1.1 million.
  • Accredited Investor (AI) Units: Up to 2.07 million units at $0.40 per unit, raising up to $828,000.
  • Listed Issuer Financing (LIFE) Units: Up to 680,000 units at $0.40 per unit, raising up to $272,000.
• Warrant Terms:
  • AI Units: Each unit includes one common share and one warrant. Warrants allow acquisition of one additional share at $0.70 for 36 months. Accelerated expiry triggers if share price exceeds $1 for 10 consecutive trading days.
  • LIFE Units: Each unit includes one share and one-half warrant.
• Use of Proceeds: Advancement of prediction technologies for drug and alcohol intoxication detection (consumer and enterprise mental health) and general working capital.
• Regulatory & Shareholder Approval:
  • Offering exceeds 100% of existing share capital, requiring shareholder approval per Canadian Securities Exchange policies.
  • Approval to be sought via written consent of the majority of outstanding shares.
  • If approval is not received, the company may reduce offering size or cancel the offering.
  • Securities issued under the accredited investor exemption have a 4-month and 1-day hold period; LIFE exemption securities have no hold period.
• Acquisition & Development Update:
  • Final completion of clinical software development for a previously announced acquisition (announced Oct 14, 2025).
  • Consideration: 87,500 post-consolidation warrants issued to the software vendor.
  • Warrant Exercise Price: $0.50 per warrant.
  • Technology Application: Data collection and analysis for speech and intoxication detection in enterprise scenarios.
  • Timeline: First prototype for enterprise environments expected within 4 to 6 months.

Notable Quotes

• None provided in the text.