TORONTO, ON / ACCESSWIRE / January 26, 2021 / Novamind Inc., (CSE: NM) (“Novamind” or the “Company”) a mental health company specialized in psychedelic medicine, announces that is has entered into marketing services agreements with Octagon Media Corp. (“Octagon”) (the “Octagon Marketing Agreement”), AGORA Internet Relations Corp (“AGORA”) (the “AGORA Marketing Agreement”), and a consulting agreement with Venture North Capital Inc. (“VNC”) (the “VNC Agreement”).
In connection with the services provided by Octagon under the Octagon Marketing Agreement, the Company will pay Octagon a cash fee of US$123,000 upon signing, as well as grant Octagon a 12-month option to purchase 100,000 common shares in the capital of the company (the “Shares”) at a price of CAN$1.65 per Share, which will vest fully at signing, and 400,000 warrants to purchase Shares at a price of CAN$1.65 per Share for a period of twelve months from the date of issuance.
The Company also announces that it has entered into a 12-month online marketing services agreement with AGORA Internet Relations Corp., to carry out an online marketing campaign for the purposes of targeting new potential investors that would be specifically interested in the Company’s business model, as well as engaging current shareholders.
In connection with the services provided by AGORA under the AGORA Marketing Agreement, the Company will pay AGORA aggregate consideration of CAN$75,000 plus applicable taxes. The consideration is to be paid via the issuance of Shares. CAN$15,000 of Shares are payable upon commencement of the AGORA Marketing Agreement on January 15, 2021, in consideration of the setup and creation of tools to be used in connection with the services, and an additional CAN$15,000 of Shares are payable every three months thereafter until the end of the AGORA Marketing Agreement’s term.
The number and deemed price of the Shares to be issued will be determined after the date services are provided in each period and are to be calculated using the closing price of the Shares on the Canadian Securities Exchange on each date on which Shares are to be issued.
The Company also announces that it has entered into a consulting agreement with Venture North Capital Inc., pursuant to which VNC will provide the Company with investor relations, marketing and communications services for a 6-month term.
In connection with the services provided by VNC under the VNC Agreement, the Company agreed to pay VNC a monthly cash payment of CAN$7,500 per month for six months. The Company has also agreed to issue VNC warrants to purchase 100,000 Shares at a price of CAN$1.65 per Share for a period of twelve months from the date of issuance.
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly-owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Bill Mitoulas, Investor Relations
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.
None of the securities discussed in this news released have been or will be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and any securities issued are anticipated to be issued in reliance upon available exemptions from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.