MYND Lifesciencs Inc. announced that it has entered into a binding term sheet with a new strategic institutional investor for non-brokered private placement of debenture units for gross proceeds of CAD 3,000,000 on August 26, 2021. Each unit consists of CAD 1,000 par value of senior unsecured convertible debentures and 1,000 common share purchase warrants exercisable at CAD 1 per share for a period of 24 months from from the date of issuance. The debentures will be issued at a discount equal to 10% of the aggregate principal amount of debentures. The debentures will mature in 24 months of issuance. The debentures bear interest at a rate of 5% per annum, payable on the maturity date. The debentures are convertible into common shares at a price of CAD 0.75 per share. The company may force the conversion of all of the principal amount of the then outstanding debentures at the conversion price prior to the maturity, if the daily volume weighted average trading price is greater than a 50% premium to the conversion price for any 15 trading days during any period of 30 consecutive trading days. All securities issued are subject to a statutory hold period of four months and one day from issuance. The transaction is is subject to final acceptance by the Canadian Stock Exchange.