MINDCURE Announces First Quarter Fiscal 2022 Financial Results

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VANCOUVER, BC, October 26, 2021 / CNW / – Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in proprietary advanced technology and research on psychedelics, today announced its results for the three months ended August 31, 2021. All amounts are in Canadian dollars, unless otherwise indicated.

Highlights of the first quarter of fiscal 2022

  • Launch of the minimum viable product version of iSTRYM, the company’s digital therapy (DTx) platform, in partner clinics across North America;
  • Completion of the complete chemical synthesis of ibogaine, launch of the second stage of manufacture and filing of two provisional patent applications;
  • Development of exclusive ketamine-based psychotherapy protocols for the treatment of pain and depression;
  • Strategic equity investment in Awakn Life Sciences Inc .;
  • Signature of an exclusive digital clinical data license agreement with ATMA Journey Centers; and
  • After the end of the trimester, launched the “Desire Project”, a clinical research program focused on the treatment of hypoactive female sexual desire disorder with MDMA-assisted psychotherapy.

“The first quarter was an important quarter for MINDCURE as we achieved several key milestones, including the launch of the minimum viable product of iSTRYM, our digital therapeutic platform,” declared Kelsey ramsden, President and CEO of MINDCURE. “We ended the quarter with a strong cash position and have a strong catalyst pipeline over the next few months. Desire Project. “

Financial highlights for the first quarter of fiscal 2022

  • Total cash and cash equivalents $ 15.6 million like a August 31, 2021;
  • Net loss for the three months ended August 31, 2021 was $ 2.8 million, made up of non-cash operating expenses of $ 0.3 million, an inventory depreciation of $ 0.2 million; an unrealized investment loss of $ 0.1 million, and cash operating expenses of $ 2.2 million.

A copy of the Company’s financial statements for the three months ended August 31, 2021, and the related MD&A are available under the Company’s profile on SEDAR at www.sedar.com.

In addition, the Company announces that it has granted a total of 70,000 stock options to certain employees in accordance with the terms of the Company’s long-term incentive plan (the “Plan”). Stock options are exercisable at prices between $ 0.295 per share and $ 0.325 per share and are subject to the terms of the plan. The Company further announces that it has issued 108,224 ordinary shares to a consultant at prices agreed between $ 0.31 per share and $ 0.60 per share.

About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovation and commercialization of new ways to promote healing and improve mental health. The company is developing digital therapy technology and researching psychedelic compounds to promote access to safe and evidence-based psychedelic-assisted therapies around the world. Learn more about mindcure.com and follow us on LinkedIn, Facebook, Twitter, and Instagram.

On behalf of the board of directors

Kelsey ramsden, President and CEO
Phone: 1-888-593-8995

Forward-looking information
Forward-looking information is based on a number of key expectations and assumptions made by MINDCURE management, including, but not limited to: the impact of the COVID-19 pandemic on the Canadian economy and MINDCURE activities, as well as the extent and duration of this impact; no changes in laws or regulations that adversely affect MINDCURE’s activities; there will be a demand for MINDCURE products in the future; no unforeseen expenses or costs arise; MINDCURE can continue to identify products that make them ideal candidates for providing mental health treatment solutions; that iSTRYM will be developed, optimized and function as intended in the psychedelics industry; that the Company will be effective in obtaining the patents requested for the synthesis of ibogaine, or the synthesis of ibogaine, or the development of ibogaine synthesized for research, medical or commercial use; that MINDCURE will advance well-being around the world; that iSTRYM will be brought into commercial deployment in the short term or otherwise or that it will reduce symptoms, improve quality of life, or support transformation and healing, or that the deployment may not occur to scale or within the timeframe envisaged.

While MINDCURE has attempted to identify significant factors that could cause actual results, performance or achievements to differ materially from those described in the forward-looking information presented, there may be other factors that cause actual results to differ. , performance or achievements differ from those anticipated, estimated or intended. Therefore, readers should not place undue reliance on forward-looking statements, as no forward-looking information can be guaranteed.

Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MINDCURE assumes no obligation to publicly update or revise any forward-looking information, whatsoever. either as a result of new information, events, or other.

SOURCE Mind Cure Health Inc.

For more information: MINDCURE Investor Relations, [email protected], 1-888-593-8995; Media inquiries, Annie Graf / Kristin Cwalinski, KCSA Strategic Communications, [email protected]

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