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MindMed submits application to up-list on Nasdaq as psychedelic medicine industry expands

The New York company has appointed Canaccord Genuity as financial advisor to assess the viability of the up-listing and to help evaluate M&A opportunities

Canaccord Genuity - Mind Medicine (MindMed) Inc submits application to up-list on Nasdaq
MindMed cautioned there can be no assurance that Nasdaq acceptance will be granted

Mind Medicine (MindMed) Inc (NEO:MMED)(OTCQB:MMEDF), the leading drug development company for psychedelic-inspired medicines, said Monday it is evaluating an expanded US investor base through an up-listing on the Nasdaq Capital Market.

As part of the up-listing strategy in the US, the company said it has submitted an application to list its subordinate voting shares on the Nasdaq. 

The listing of MindMed's shares on the exchange will be subject to a number of regulatory requirements, including review of the company and acceptance for listing by Nasdaq. There can be no assurance that Nasdaq acceptance will be granted.

READ: MindMed ends 2Q with US$24 million in cash to fund clinical trials on psychedelic substances

New York-based MindMed said it has appointed Canaccord Genuity Corp as financial advisor to assess the viability of a potential up-listing to Nasdaq and also help to evaluate M&A opportunities available to the company.

"The psychedelic medicine industry is maturing and expanding rapidly, and we want to grow with it,” said co-founder and co-CEO JR Rahn in a statement.

“We look forward to working with Canaccord Genuity to evaluate the opportunity for an up-listing on NASDAQ and help us navigate M&A opportunities now available to the company."

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham


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Price: 11.69 CAD

Market: TSX
Market Cap: $1.13 billion

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