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Sep 23, 2021

Biomind Completes RTO of Crosswinds Holdings, $6 Million Private Placement and Listing on NEO Exchange

Richard M. Kimel, Marek Lorenc, Danny Kharazmi and David Mba

On July 23, 2021, Biomind Labs Inc. (formerly Crosswinds Holdings Inc.) (the “Company”), completed a plan of merger under the BVI Business Companies Act, 2004 (British Virgin Islands) between Biomind Research Corp (“Biomind”) and a wholly owned subsidiary of the Company, which resulted in the reverse takeover of the Company by the shareholders of Biomind (the “Reverse Takeover”). As part of the Reverse Takeover, the Company changed its name to “Biomind Labs Inc.” Following completion of the Reverse Takeover, the common shares of the Company began trading on the Neo Exchange Inc. under the symbol “BMND.”

In connection with the Reverse Takeover, Biomind completed a private placement offering of 4,420,647 subscription receipts at a price of $1.40 per subscription receipt for aggregate gross proceeds of $6,188,906. On completion of the Reverse Takeover, the subscription receipts were exchanged for common shares of the Company.

The Company now focuses on the business of Biomind, which includes biotech research and development aimed at transforming biomedical sciences knowledge from natural psychotropic plants into novel pharmaceutical drugs and innovative nanotech delivery systems for a variety of psychiatric and neurological conditions.

Aird & Berlis acted for Biomind with a team that included Richard Kimel, Marek Lorenc, Danny Kharazmi and David Mba (Capital Markets/M&A). 

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