InMed Pharmaceuticals Announces Voluntary Delisting from TSX

All common shares will continue to be listed and tradable on the Nasdaq

VANCOUVER, British Columbia, April 27, 2021 (GLOBE NEWSWIRE) -- InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq:INM) (TSX:IN), a clinical-stage company developing cannabinoid-based pharmaceutical drug candidates and leading the clinical development of cannabinol (“CBN”), today announced that, based on the strong trading data on the Nasdaq, it has provided written notice to the Toronto Stock Exchange (the "TSX") regarding the voluntary delisting of its common shares. InMed’s common shares will continue to be listed and tradable on the Nasdaq under “INM”.

The Company believes that the trading volume of its shares on the TSX no longer justifies the expense and administrative efforts associated with maintaining this dual listing. InMed’s listing on Nasdaq provides its shareholders with good liquidity, as Nasdaq has accounted for approximately 86% of its trading volume since its November 12, 2020 listing. The substantial savings in exchange fees, legal fees, and managerial time and effort to maintain a dual listing can be redirected into scientific programs, further advancing the business of the Company. InMed’s common shares will continue to be listed and traded on Nasdaq and its Canadian shareholders’ existing shares will trade through their brokers on the Nasdaq stock exchange. InMed anticipates that its common shares will be delisted from the TSX at the close of trading on or about May 7, 2021.

As most brokers in Canada, including discount and online brokers, have the ability to buy and sell securities listed on Nasdaq, InMed’s Nasdaq listing will continue to provide shareholders with the same accessibility to trade the Company’s common shares. Shareholders holding shares in Canadian brokerage accounts should contact their brokers to confirm how to trade InMed’s shares on the Nasdaq exchange.

For answers to frequently asked questions about the voluntary delisting, please visit the FAQ section of the Company's website.

About InMed: InMed Pharmaceuticals is a clinical-stage company developing a pipeline of cannabinoid-based pharmaceutical drug candidates, initially focused on the therapeutic benefits of cannabinol (CBN), in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.inmedpharma.com.