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InMed Announces Filing of Registration Statement in Connection with United States Offering, Application to Seek Nasdaq Listing and Planned Share Consolidation
InMed Announces Filing of Registration Statement in Connection with United States Offering...
About this update from Infield Minerals Corp
[{"type":"text","content":"\n\n\n\nInMed Announces Filing of Registration Statement in Connection with United States Offering, Application to Seek Nasdaq Listing and Planned 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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, June 19, 2020\n\n\n\nVANCOUVER, BC, June 19, 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\"), today announced that it has filed a registration statement on Form S-1 with the United States Securities and Exchange Commission (\"SEC\") in connection with a proposed offering of up to US$12 million of common shares (the \"Offering\"). In connection with the proposed Offering, InMed has also applied to list its common shares on the Nasdaq Stock Market (\"Nasdaq\"). The number of shares to be offered and the offering price for the proposed Offering have not yet been determined. The offering is subject to market conditions and approval of the Toronto Stock Exchange (\"TSX\"), and there can be no assurance as to whether or when the offering may be completed, as to the actual size or terms of the offering, or whether the common shares will be accepted for trading on Nasdaq.\nIn addition to, and in preparation for, this new listing and subject to approval by the TSX, the Company will proceed with a consolidation of its issued and outstanding common shares on the basis of one (1) post-consolidation share for every thirty-three (33) pre-consolidation shares (the \"Consolidation\"). The Consolidation will result in the number of issued and outstanding common shares of the Company being reduced from 172.3 million to approximately 5.23 million on a non-diluted basis, and each shareholder will hold the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.\nThe exercise price and number of common shares of ...