Heading Higher? Mind Medicine Inc (NASDAQ:MNMD) Releases Meeting Results

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is moving marginally up in the pre-market session after the news. The stock has been very volatile over the past month. MNMD stock has soared 661% over the past year.

Market Action

As of 7:21, MNMD stock jumped $0.02 or 0.64% to $3.16 on heavy volume of 70K shares. the stock has pulled back 45% from its 52-week high last month.

MindMed announces shareholder Meeting Results

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• announce that each of the resolutions put before the annual and special meeting of shareholders held today (the “Meeting”) was passed by the requisite majority of shareholders.
• As described in the Company’s management information circular dated April 19, 2021 (the “Circular”), Jamon Alexander Rahn, Miriam Halperin Wernli, Stephen Hurst, Perry Dellelce, Bruce Linton and Brigid Makes were re-elected as directors of the Company. In addition, as announced in the Company’s press release dated May 14, 2021, management of the Company put forward Dr. Sarah Vinson as an additional nominee for its board of directors. At the Meeting, shareholders approved fixing the number of directors to be elected at seven and approved all seven director nominees.
• Furthermore, shareholders approved all other resolutions put before the Meeting as described in the Circular, including: (i) the appointment of RSM Canada LLP as auditor; (ii) the authorization to amend and restate the articles of the Company; and (iii) the reservation of an aggregate of 15% of the Company’s issued and outstanding subordinate voting shares under the Company’s share option plan and its performance share unit and restricted share unit compensation plan.
• A total of 160,909,054 shares of the Company (representing 39.52% of the combined total of votes attaching to the issued and outstanding multiple voting shares and subordinate voting shares) were voted in connection with the Meeting. Each multiple voting share is entitled to 100 votes per share.

MindMed CEO & Co-Founder J.R. Rahn noted, “We are pleased with the active participation of our shareholders in supporting our board members and our broader business plan. We aim to ensure continued support through growing our dialogue with existing and prospective shareholders.”