Clearmind Applies to Cease Being a Reporting Issuer in Canada

Vancouver, Canada, April 30, 2024 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq, CSE: CMND), (FSE: CWYO) ("Clearmind" or the “Company”), a clinical- stage biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced that it will apply to the British Columbia Securities Commission (the “BCSC”), as principal regulator, the Ontario Securities Commission (the "OSC"), as non-principal regulator, and the Alberta Securities Commission (collectively, the “Canadian Securities Regulators”) for an order (the “Order Sought”) to cease being a reporting issuer in British Columbia, Ontario, and Alberta (the “Jurisdictions”), the jurisdictions in Canada in which it is currently a reporting issuer.

If the Order Sought is granted by the Canadian Securities Regulators, Clearmind will cease to be a reporting issuer in any jurisdiction in Canada and will no longer be required to file financial statements and other continuous disclosure documents with the Canadian Securities Regulators.

Notwithstanding a decision that Clearmind will not be a reporting issuer in Canada following receipt of the Order Sought, Clearmind will continue to file all financial statements and other continuous disclosure materials required in accordance with the applicable laws of the United States and Germany, and the rules of The Nasdaq Capital Market (the “Nasdaq”) and the Frankfurt Stock Exchange (the “FSE”). All such continuous disclosure documents of the Company are publicly available to all security holders of Clearmind at www.clearmindmedicine.com, and Clearmind's security holders residing in Canada will continue to receive copies of the continuous disclosure documents that are required to be delivered to security holders in the United States and Germany, in the same manner and at the same time as is required under the applicable securities laws of the United States and Germany and the rules of the Nasdaq and the FSE.

About Clearmind

Clearmind is a clinical- stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. The Company’s intellectual portfolio currently consists of seventeen patent families. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.