MindMed Announces Voluntary Delisting from Cboe Canada

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (Cboe Canada: MMED) (the “Company” or “MindMed”), a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced that it has elected to voluntarily delist its common shares from Cboe Canada, effective at the close of markets on April 10, 2024, and the notice of voluntary delisting has been accepted by Cboe Canada. MindMed’s common shares will continue to be listed and tradable on The Nasdaq Global Select Market (“Nasdaq”) under the symbol “MNMD” and Canadian shareholders can continue to trade their shares on Nasdaq.

The Company believes that the trading volume of its common shares on Cboe Canada no longer justifies the expense and administrative requirements associated with maintaining this dual listing. MindMed’s Nasdaq listing provides its shareholders with sufficient liquidity, as Nasdaq accounts for approximately 95% of its trading volume. The substantial savings in exchange fees, legal fees, and managerial time and effort to maintain a dual listing can be redirected to initiatives intended to generate shareholder value. The board of directors of the Company has approved the voluntary delisting from Cboe Canada. In accordance with the Cboe Canada Listing Manual, Cboe Canada does not require shareholder approval of the voluntary delisting of MindMed’s common shares, as an acceptable alternative market will exist for the common shares on the date of delisting.

Following delisting from Cboe Canada, MindMed’s shareholders can trade their common shares through their brokers on Nasdaq. As most brokers in Canada, including many discount and online brokers, have the ability to buy and sell securities listed on Nasdaq, MindMed’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 MindMed’s common shares on Nasdaq. MindMed will continue to be a reporting issuer under applicable securities laws in all provinces and territories of Canada following the delisting of the common shares from Cboe Canada.