Greenbrook TMS Completes US$13.2 Million Bought Deal Public Offering

Greenbrook TMS Inc. (TSX: GTMS) (NASDAQ: GBNH) (“Greenbrook” or the “Company”), a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy in the United States, is pleased to announce the closing of its previously-announced public offering (the “Offering”). The Offering was made pursuant to an underwriting agreement entered into among Stifel GMP, Bloom Burton Securities Inc. and Lake Street Capital Markets, LLC (collectively, the “Underwriters”).

Pursuant to the Offering, the Company issued a total of 1,707,750 common shares of the Company (the “Common Shares”) at a price of US$7.75 per Common Share for gross proceeds of approximately US$13.2 million, including 222,750 Common Shares issued pursuant to the full exercise of the Underwriters’ over-allotment option. The Company intends to use the net proceeds from the Offering to fund its previously-announced acquisition of Achieve TMS East, LLC and Achieve TMS Central, LLC and for working capital and general corporate purposes.

The Common Shares were qualified for sale by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated July 22, 2021 (the “Base Shelf Prospectus”) in the United States and Canada. The Prospectus Supplement was also filed with the U.S. Securities and Exchange Commission (the “SEC”) to the Base Shelf Prospectus as part of the Company’s effective registration statement on Form F-10 previously filed under the U.S./Canada multi-jurisdictional disclosure system.

Clarus Securities Inc. and Desjardins Securities Inc. served as independent financial advisors to the Company in connection with the Offering.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any province, territory, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, territory, state or jurisdiction.