Clearmind Medicine secures $10M securities purchase agreement

Clearmind Medicine (CMND) entered into securities purchase agreements with institutional investors. Pursuant to the SPAs, the Company may issue and sell, from time to time, convertible promissory notes in an aggregate principal amount of up to $10,000,000. Upon the execution of the SPAs, the Company issued and sold to the Holders initial Notes in the aggregate principal amount of $555,556 for a purchase price of $500,000. Aegis Capital Corp. acted as financial advisor for the transaction. Pursuant to and subject to the conditions set forth in the SPAs, following the effectiveness of a registration statement with the Securities and Exchange Commission, the Company shall issue and sell additional Notes in the aggregate principal amount of $1,944,444 for a purchase price of $1,750,000. Commencing three months after the Second Initial Closing, the Company may request, at its sole discretion, that the Holders purchase additional Notes in the aggregate principal amount of up to $2,500,000 per quarter, totaling up to $7,500,000 for a purchase price of $6,750,000. The Company intends to use the net proceeds from the sale of the Notes for working capital and general corporate purposes, as well as for potential acquisitions to support its exploration of strategic opportunities.