Inmed announces share consolidation to satisfy nasdaq listing rules

Vancouver, british columbia--(newsfile corp. - november 8, 2024) - inmed pharmaceuticals inc. (nasdaq: inm) ("inmed" or the "company"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announced, pursuant to a directors' resolution, inmed will be consolidating all of its issued and outstanding share capital on the basis of one (1) post‐consolidation share for each twenty (20) pre‐consolidation common shares, no par value, of the company (the "common shares") in order to regain compliance with all of nasdaq's continued listing requirements (the "consolidation"). the consolidation will result in the number of issued and outstanding common shares being reduced from 14,361,550 to approximately 718,078 common shares on a non-diluted basis, and each shareholder will hold the same percentage of common shares outstanding immediately after the consolidation as such shareholder held immediately prior to the consolidation.
INM Ratings Summary
INM Quant Ranking