Bright Minds Biosciences Inc. announced a non-brokered private placement to issue 661,765 units at an issue price of $1.36 per unit for the gross proceeds of $900,000.4 on December 6, 2023. The transaction will include participation from Ian McDonald who is Chief Executive Officer and a Director of the company. Each Unit will consist of one common share and one common share purchase warrant.

Each Warrant grants the holder the right to acquire one Share at a price of $1.70 per Warrant Share, valid for a period of 60 months following the Offering's closing date. The expected closure of the Offering is around December 22, 2023. The units of the transaction has been completely subscribed by management.

As a result, the securities issued will not be subjected to a hold period under the prevailing Canadian securities laws.