InMed Pharmaceuticals Announces Closing of $5 Million Registered Direct and Private Placement Offerings Priced At-The-Market Under Nasdaq Rules

InMed Pharmaceuticals Announces Closing of  Million Registered Direct and Private Placement Offerings Priced At-The-Market Under Nasdaq Rules

InMed Prescribed drugs Inc.

VANCOUVER, British Columbia, June 06, 2022 (Globe NEWSWIRE) — InMed Prescribed drugs Inc. (“InMed” or the “Enterprise”) (Nasdaq: INM), a leader in the exploration, development, producing and commercialization of unusual cannabinoids, today introduced the closing of its previously introduced registered immediate presenting and concurrent non-public placement with a single health care-concentrated institutional trader priced at-the-current market less than Nasdaq guidelines. The Firm issued 4,079,256 of its prevalent shares at a obtain rate of $.858 for every share (or pre-funded warrant in lieu thereof) in the registered immediate giving. In the concurrent personal placement, InMed has also issued and marketed to the investor 1,748,250 common shares (or pre-funded warrant in lieu thereto) at the exact same purchase value as in the registered direct offering. In addition, the Company issued to the trader in the choices unregistered most well-liked investment options (the “investment options”) to order up to an aggregate of 5,827,506 popular shares. The aggregate gross proceeds to the Business of each choices were being somewhere around $5 million. The Enterprise intends to use the net proceeds from the choices to continue on pipeline development, progress professional routines and for common operating capital functions.

H.C. Wainwright & Co. acted as the distinctive placement agent for the offerings.

The unregistered expense alternatives issued in the offerings are exercisable promptly on issuance at an training cost of $.74 per share and will expire six and one particular-50 percent several years from the date of issuance.

The Firm also amended sure existing warrants to order up to an aggregate of 4,480,771 typical shares of the Company that had been earlier issued to the investor, with exercise costs ranging from $2.848 to $5.11 for each share and expiration dates ranging from July 2, 2026 to November 16, 2026, successful upon the closing of the registered immediate offering so that the amended warrants have a reduced training selling price of $.74 for each share, are not exercisable until eventually 6 months next the closing of the registered immediate featuring and expire 7 years following the closing of the registered direct presenting.

The widespread shares, pre-funded warrants and typical shares fundamental the pre-funded warrants (but excluding the popular shares and pre-funded warrants offered in the non-public placement and the financial commitment options and the widespread shares underlying the expense possibilities bought in the offerings) have been provided and sold by InMed pursuant to a “shelf” registration assertion on Form S-3 (333-262532), such as a base prospectus, formerly submitted with the Securities and Exchange Fee (“SEC”) on February 4, 2022 and declared effective by the SEC on February 11, 2022. The offering of the popular shares and the pre-funded warrants issued in the registered direct featuring were designed only by signifies of a prospectus supplement that types a element of the registration assertion. A remaining prospectus dietary supplement and an accompanying foundation prospectus relating to the registered direct supplying was submitted with the SEC and is out there at the SEC’s web-site positioned at http://www.sec.gov. Electronic copies of the prospectus supplement and the accompanying base prospectus may also be obtained from H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at [email protected]

The unregistered common shares, pre-funded warrants and expense alternatives offered in the offerings described earlier mentioned ended up presented in a private placement beneath Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”) and Regulation D promulgated thereunder and, together with the widespread shares fundamental the pre-funded warrants and financial commitment options, have not been registered under the Act or applicable point out securities regulations. Accordingly, the typical shares, the pre-funded warrants, the expense alternatives and the frequent shares underlying the pre-funded warrants and expense options might not be supplied or bought in the United States absent registration with the SEC or an applicable exemption from these kinds of registration specifications. The securities have been presented only to an accredited trader. Pursuant to a registration legal rights arrangement with the trader, the Corporation has agreed to file a person or additional registration statements with the SEC covering the resale of the unregistered common shares and the shares issuable upon workout of the unregistered pre-funded warrants and financial commitment alternatives.

This press launch shall not constitute an offer you to promote or the solicitation of an give to obtain these securities, nor shall there be any sale of these securities in any condition or jurisdiction in which these kinds of supply, solicitation or sale would be illegal prior to registration or qualification under the securities regulations of any such point out or jurisdiction.

About InMed: InMed Prescription drugs is a global leader in the research, development, manufacturing and commercialization of exceptional cannabinoids. With each other with its subsidiary BayMedica LLC, the Organization has unparalleled cannabinoid producing abilities to provide a spectrum of consumer markets, like pharmaceutical and wellness and wellness. InMed is also a clinical-stage business building a pipeline of exceptional cannabinoid therapeutics and committed to providing new therapy choices to people that may well gain from cannabinoid-primarily based pharmaceutical drugs. For extra facts, visit www.inmedpharma.com and www.baymedica.com.

Trader Make contact with:
Colin Clancy
Vice President, Investor Relations
and Company Communications
T: +1.604.416.0999
E: [email protected]

Cautionary Take note Concerning Ahead-Searching Info:

This information release contains “forward-on the lookout information and facts” and “forward-wanting statements” (collectively, “forward-wanting data”) inside the that means of applicable securities legal guidelines. Forward-looking information and facts is based on management’s present-day anticipations and beliefs and is subject to a number of dangers and uncertainties that could lead to precise results to differ materially from those described in the forward-searching statements. Ahead-seeking details in this information release includes statements about: the use of the internet proceeds of the offerings the submitting of a registration statement by InMed with the SEC masking the resale of the unregistered common shares and the shares issuable on exercising of the unregistered pre-funded warrants and investment decision solutions becoming a global leader in the analysis, enhancement, production and growth of scarce cannabinoids and offering new treatment method choices to sufferers that may profit from cannabinoid-centered pharmaceutical medicines.

With regard to the ahead-seeking data contained in this news launch, InMed has produced numerous assumptions regarding, among other factors: the ability to acquire all necessary regulatory approvals on a timely basis, or at all and continued financial and market steadiness. Though InMed considers these assumptions to be fair, these assumptions are inherently matter to important organization, financial, aggressive, industry and social uncertainties and contingencies.

Additionally, there are recognized and unidentified danger things which could lead to InMed’s precise final results, performance or achievements to be materially various from any long term results, performance or achievements expressed or implied by the forward-on the lookout data contained herein. A complete discussion of the dangers and uncertainties facing InMed’s stand-alone organization is disclosed in InMed’s Annual Report on Sort 10-K and other filings with the Protection and Trade Fee on www.sec.gov.

All forward-seeking facts herein is experienced in its entirety by this cautionary assertion, and InMed disclaims any obligation to revise or update any these kinds of forward-searching information and facts or to publicly announce the outcome of any revisions to any of the forward-seeking details contained herein to reflect upcoming success, activities or developments, besides as demanded by regulation.