MindBio to Raise Up to $650,000 for AI Intoxication Detection Expansion in Mining Sector

The latest announcement is out from Mindbio Therapeutics Corp. ( (TSE:MBIO) ).

MindBio Therapeutics plans to raise up to $650,000 through a non-brokered private placement of units priced at $0.60, each comprising one common share and one warrant, to fund its AI-driven intoxication detection technologies. The company aims to accelerate development and remote deployment of proprietary hardware and edge solutions for mining sites, while also allocating proceeds to recruitment and working capital.

Warrants will be exercisable at $0.80 for 36 months with an accelerated expiry clause tied to share price performance, and all securities will carry a four-month-and-one-day resale restriction under securities laws. Subject to final approvals, MindBio also intends to grant up to 450,000 stock options to consultants and employees, reinforcing incentives as it seeks to expand its enterprise footprint in industrial safety applications, particularly within the mining sector.

More about Mindbio Therapeutics Corp.

MindBio Therapeutics Corp. is a biotechnology company focused on commercialising artificial intelligence prediction technologies for detecting drug and alcohol intoxication through voice analysis. Its AI model leverages over 50 million data points to accurately gauge alcohol intoxication and is being expanded to identify other forms of intoxication for deployment in both consumer and enterprise settings.

Average Trading Volume: 10,170

Technical Sentiment Signal: Sell

Current Market Cap: C$3.6M

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