MindMed Board is Trippin': Significant Investor Calls for Termination of Highly Dilutive Equity Offering and Pledges to Hold Board and Management Accountable through Activist Campaign

SHERIDAN, Wyo., Sept. 28, 2022

SHERIDAN, Wyo., Sept. 28, 2022 /PRNewswire/ -- Today, FCM MM HOLDINGS, LLC ("FCM") announces that it has sent a letter (the "Letter") to the Board of Directors (the "Board") of Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) ("MindMed" or the "Company") informing the Board of FCM's vehement opposition to the Company's public offering announced on September 27, 2022 (the "Dilutive Offering"). In the Letter, FCM details how the Board's and management's actions, including the Dilutive Offering, have destroyed shareholder value, calls for the Board to immediately terminate the offering, and pledges to take action to hold the Board accountable.

"We are committed to taking whatever actions are necessary to protect the interest of shareholders, and we look forward to engaging in a zealous proxy campaign" said FCM Chief Executive Manager Jake Freeman.

The full text of the letter is available and can be downloaded at mindmed.zone/letterdilution

FCM is managed by Jake Freeman and represents an investment of 6.1% of MindMed's shares outstanding.

FCM additionally represents other early investors in MindMed, including Scott Freeman and Chad Boulanger, who all have a strong interest in seeing the long-term success of MindMed.

For additional disclosure relating to public broadcast solicitations please see mindmed.zone/disclosure