Bright Minds Biosciences announces proposed five to one share consolidation

Bright Minds Biosciences intends to consolidate its common shares on a five to one basis. The consolidation has been approved by the board of directors. The company currently has 18,860,359 Common Shares. Following the completion of the Consolidation, the company is expected to have approximately 3,772,071 Common Shares issued and outstanding, subject to rounding for fractional Common Shares. The consolidation is being undertaken to increase the company’s attractiveness to investors and to provide the company with a path to regain compliance with the Nasdaq Stock minimum bid price requirement. The consolidation is subject to acceptance from the Canadian Securities Exchange.