Friday, June 3, 2022

MissionIRNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces $5M Registered Direct and Private Placement Offerings

 InMed Pharmaceuticals (NASDAQ: INM) is a leader in the research, development, manufacturing and commercialization of rare cannabinoids. The company today announced its entry into securities purchase agreements with a single health care-focused institutional investor for the issuance and sale of 4,079,256 of its common shares, each at a purchase price of $0.858 (or pre-funded warrant in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, InMed has also agreed to issue and sell to the investor 1,748,250 common shares (or pre-funded warrant in lieu thereto) at the same purchase price as in the registered direct offering. In addition, the company has agreed to issue to the investor in the offerings unregistered preferred investment options to purchase up to an aggregate of 5,827,506 common shares. The company expects aggregate gross proceeds of approximately $5 million through both offerings, which are expected to close on or about June 6, 2022, subject to the satisfaction of customary conditions. InMed intends to use the net proceeds to continue pipeline development, advance commercial activities and for general working capital purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.

To view the full press release, visit https://ibn.fm/qSmeK

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary BayMedica LLC, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is also a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients who may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.InMedPharma.com and www.BayMedica.com.

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://ibn.fm/INM

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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