MindBio Announces Closing of Private Placement

Executive Summary

• MindBio Therapeutics Corp. closed an upsized non‑brokered private placement, issuing 2,396,381 units at $0.60 each for gross proceeds of $1,437,828.87.
• Net proceeds will be used to accelerate development and deployment of proprietary hardware/edge technology for intoxication detection at mining sites, recruit specialised personnel, and fund general working capital.
• The company entered into separate promotional and communications service agreements with The Market Link and Investor Brand Network, committing $36,750 upfront and $139,390 over 12 months respectively for marketing and investor‑awareness activities.

Key Details

• Offering Structure: 2,396,381 units; each unit = 1 common share + 1 share purchase warrant.
• Pricing: $0.60 per unit (gross proceeds $1,437,828.87).
• Warrant Terms: Each warrant allows purchase of one additional share at $0.80 for 36 months post‑closing; accelerated expiry if CSE price > $1.00 for ten consecutive trading days.
• Finder Warrants: 116,973 non‑transferable finder warrants issued to introducers; same exercise price and term as above.
• Fees Paid: Cash fees of $70,183.97 related to the private placement.
• Resale Restrictions: All securities subject to a four‑month‑and‑one‑day lock‑up period.
• Use of Proceeds: Development/deployment of proprietary hardware and edge technology for remote intoxication detection at mining sites; recruitment of specialised personnel; general working capital.
• Promotional Engagement – The Market Link:
• Advertising campaign agreement (Mar 24 2026 – Mar 24 2027).
• Services: campaign planning, execution, optimization, access to advertising inventory, performance reporting.
• Compensation: $36,750 cash payable upfront; no securities‑based compensation.
• Promotional Engagement – Investor Brand Network (IBN):
• Syndicated communications agreement (Mar 25 2026 – Mar 25 2027).
• Services: content distribution, press release amplification, interview support, social media relations, podcast placement, etc.
• Compensation: $34,847.50 per quarter for 12 months; total $139,390 cash; no securities‑based compensation.

Notable Quotes

• “The net proceeds from this Offering will enable us to accelerate the development and deployment of our proprietary hardware and edge technology, expanding the reach of MindBio’s intoxication detection solution into critical enterprise environments such as mining sites.” – Justin Hanka, Chief Executive Officer