Inmed enters into standby equity purchase agreement

Vancouver, british columbia--(newsfile corp. - december 17, 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, announces it entered into a standby equity purchase agreement (the "sepa") with ya ii pn, ltd (the "investor"), an investment fund managed by yorkville advisors global lp, a global investment manager, on december 13, 2024 (the "effective date") to sell up to $10 million in the aggregate of the company's common shares, no value (the "common shares"), at any time during the 36-month period following the effective date of the sepa, subject to the effectiveness of a registration statement with the securities and exchange commission and other conditions set forth in the sepa. "this equity facility is a key component of our financing strategy, offering both flexibility and extended runway to accelerate our pharmaceutical programs and other business development initiatives," said eric a.
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