InMed Announces Completion of Share Consolidation

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[{"type":"text","content":"\n\n\n\nInMed Announces Completion of Share Consolidation\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, June 30, 2020\n\n\n\nTrading of Consolidated Shares on TSX Expected to Begin on July 3rd, 2020\n VANCOUVER, BC, June 30, 2020 /CNW/ - InMed Pharmaceuticals Inc. (\"InMed\" or the \"Company\") (TSX:IN) (OTCQX:IMLFF), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol (\"CBN\"), is pleased to announce, further to its press release dated June 19th, 2020, that in conjunction with its application to list its common shares on the Nasdaq Stock Market (\"Nasdaq\"), the Company has completed the consolidation of its issued and outstanding common shares on the basis of thirty-three (33) pre-consolidation common shares for one (1) post-consolidation common share (the \"Consolidation\").  \nSubject to the approval of the Toronto Stock Exchange (\"TSX\"), the Company's common shares are expected to commence trading on a post-consolidated basis on the TSX (ticker symbol: IN) on July 3rd, 2020 and, due to the observation on July 3, 2020 of the US Independence Day, trading on the OTCQX Best Market (ticker symbol: IMLFF) beginning July 6th, 2020 under the same trading symbols and with new CUSIP number 457637502 and ISIN number CA4576375022.\nThe Consolidation will result in the number of issued and outstanding common shares of the Company being reduced from 172.3 million to approximately 5.22 million on a non-diluted basis.  No fractional shares will be issued as a result of the Consolidation. Each fractional share remaining after consolidation that is less than 1/2 of a share will be cancelled and each fractional share that is at least 1/2 of a share will be rounded up to one whole share. Each shareholder will hold the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.\nRegistered sharehol...

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