MindBio Boosts Private Placement to $1.5 Million for AI Intoxication Platform

Mindbio Therapeutics Corp. ( (TSE:MBIO) ) just unveiled an announcement.

MindBio Therapeutics has increased the size of its previously announced non-brokered private placement from $650,000 to up to $1.5 million, offering up to 2.5 million units at $0.60 each. Each unit includes one common share and a warrant exercisable at $0.80 for 36 months, with accelerated expiry if the stock trades above $1.00 for ten consecutive sessions.

The company plans to pay finders’ fees to eligible parties introducing investors, and all securities issued will be subject to a four-month-and-one-day resale restriction under securities laws. Completion of the financing remains subject to final board and regulatory approvals, which will influence MindBio’s ability to fund development and rollout of its AI-driven intoxication detection platform in key industrial and public safety markets.

More about Mindbio Therapeutics Corp.

MindBio Therapeutics Corp. is a biotechnology company focused on commercializing AI-powered voice analytics for detecting drug and alcohol intoxication. Its platform uses an AI prediction model trained on more than 50 million data points and is being developed into enterprise solutions, including Edge-AI kiosks with custom hardware and software for sectors such as mining, aviation, construction and law enforcement.

Average Trading Volume: 10,579

Technical Sentiment Signal: Sell

Current Market Cap: C$4.46M

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