TORONTO, Feb. 09, 2022 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (CSE: CMND, FSE: CWY0, OTCMKTS: CMNDF) (“Clearmind” or the “Company”), a psychedelic medicine biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and undertreated health problems, announces today that on February 1, 2022 the company approved, pursuant to the Option Plan, 2,020,000 Options an exercise price no lower than $0.56. Of these 1,500,000 options are to company Directors and Officers. In addition, the company authorized the issuance of 60,000 RSUs/month for a 24 month period to 3 company consultants. The agreements with the 3 consultants may be terminated by CMND, at anytime prior to the expiry date without prior notice or cause (such termination an “Accelerated Termination”). Upon an Accelerated Termination, the consultants shall not be entitled to receive any form of compensation, including RSUs, other than in respect of the period prior to the Accelerated Termination. About Clearmind Medicine Inc. Clearmind is a psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements. The Company’s intellectual portfolio currently consists of four patent families. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio. Shares of Clearmind are listed for trading on the Canadian Securities Exchange under the symbol “CMND”, the Frankfurt Stock Exchange under the symbol “CWYO” and on the OTC Markets under the symbol “CMNDF”. For further information, please contact:Investor Relations,Email: invest@clearmindmedicine.comTelephone: (604) 260-1566General Inquiries,Info@Clearmindmedicine.comwww.Clearmindmedicine.com FORWARD-LOOKING STATEMENTS: This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe to the satisfaction of the relevant regulators and raising sufficient financing to complete the Company’s business strategy. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. Investing into early-stage companies inherently carries a high degree of risk, and investment into securities of the Company shall be considered highly speculative. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Neither the Canadian Securities Exchange (the “CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.