MINDCURE Announces Financial Results for Fiscal 2021

• Commenced the development of iSTRYM, the Company’s digital therapeutics tool, a first-of-its-kind software application that will optimize the healing journey for both patients and clinicians — before, during, and after therapy sessions;
• Submitted a provisional patent application with the United States Patent and Trademark Office to cover various aspects of iSTRYM;
• Commenced the first stage of manufacturing synthetic ibogaine;
• Subsequent to year end, completed full chemical synthesis of ibogaine and filed two provisional patent applications in association with synthesis routes;
• Made several additions to its senior management team and board of directors and retained a number of advisors;
• Completed a strategic equity investment in ATMA Journey Centers Inc.; and,
• Subsequent to year end, completed a strategic equity investment in Awakn Life Sciences Inc.

“MINDCURE’s first full year of operations was full of outstanding accomplishments and highlighted by the successful completion of several milestones. The strategy and infrastructure we have put in place over the past year positions the company well to continue the development and release of our digital therapeutics platform, iSTRYM, and to continue our research for psychedelics. The company’s achievements could not have happened without the hard work and commitment of the entire MINDCURE team, our Board of Directors and our advisors. I would like to especially thank our investors for seeing and supporting the vision and execution at MINDCURE.”

– Kelsey Ramsden, President & CEO of MINDCURE.

• Raised net proceeds of $27.2 million through the issuances of common shares and the exercise of warrants and options;
• Cash and cash equivalents totalled $18.3 million as of May 31, 2021; and
• Net loss was $10.2 million for the year ended May 31, 2021, comprised of non-cash operating expenses of $2.0 million and cash operating expenses of $8.1 million.