Blackhawk Growth Corp. (CSE: BLR / FSE: 0JJ) and MindBio Therapeutics Corp. (formerly, 1286409 B.C. Ltd.) are pleased to announce the completion of the previously announced plan of arrangement (the “Arrangement”) pursuant to which Blackhawk completed a spin-out of the common shares of MindBio .
As a result of the Arrangement, Blackhawk re-designated its issued and unissued common shares (“Blackhawk Shares“) as Class A common shares without par value (the “Blackhawk Class A Shares“) and created a new class of an unlimited number of common shares without par value with terms identical to the Blackhawk Shares (the “New Blackhawk Shares“). Each holder of Blackhawk Class A Shares (“Blackhawk Shareholders“) received one New Blackhawk Share and one MindBio Share in exchange for each Blackhawk Class A Share. In addition, Blackhawk Share purchase warrants (“BLR Warrants“) outstanding as of November 25, 2022 are now exercisable for one New Blackhawk Share and one MindBio Share, subject to any approvals and restrictions required by the Canadian Securities Exchange (the “CSE“) and under Canadian securities laws. Further, under the Arrangement, the share capital of MindBio was amended to split the issued and outstanding MindBio Shares on a 1:2.61 split ratio (the “Split“).
Following the closing of the Arrangement, MindBio has 78,252,003 MindBio Shares outstanding and has additionally reserved 3,378,461 MindBio Shares for issuance pursuant to the BLR Warrants.
Financings and Anticipated Listing Date
It is anticipated that on or about May 2, 2023, MindBio will close its non-brokered private placement of subscription receipts and issue common shares in connection with its previously announced private placements (the “Financings”).
Further details in relation to such issuances will be disclosed in a subsequent press release to be issued upon completion of the private placements.
The New Blackhawk Shares will continue trading on the CSE under its current ticker symbol. It is anticipated that the MindBio will file its Form 2A listing statement with the CSE on or about May 2, 2023 and pending final approval from the CSE, MindBio Shares will commence trading on the CSE on or around May 5, 2023, under the ticker symbol “MBIO”.
About Blackhawk:
Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, Noble Hemp, Spaced Food and NuWave Foods.
About MindBio:
MindBio is a biotechnology/biopharmaceutical company focused on creating novel and emerging treatments for mental health conditions and is conducting world first take home LSD-Microdosing human clinical trials. MindBio has a leading presence in microdosing of psychedelic medicines and is advancing its drug and technology intervention protocols through clinical trials. MindBio has developed a multi-disciplinary platform for developing treatments and is involved in psychedelic medicine development, has completed Phase 1 clinical trials microdosing Lysergic Acid Diethylamide (LSD) in 80 patients, has a Phase 2 clinical trial in development microdosing LSD in patients with Major Depressive Disorder and a Phase 2 clinical trial in development microdosing LSD in late stage cancer patients experiencing existential distress. MindBio invests in research that forms the basis for developing novel and clinically proven treatments including digital technologies and interventions to treat debilitating health conditions such as depression, anxiety and other related mental health conditions.