InMed Announces CVR Distribution Record Date in Connection with Proposed Merger

Shareholders holding shares in book-entry form or brokerage accounts need not take action in connection with CVR issuance.

Rhea-AI Summary

InMed Pharmaceuticals (INM) set November 5, 2026, as the record date for contingent value rights tied to its proposed merger involving Mentari Therapeutics.

Eligible shareholders would receive one contingent value right (CVR) per outstanding common share, giving them rights to contingent payments if specified events occur under the CVR agreement. Distribution requires shareholder approval of Proposal No. 2, the Return of Capital Proposal, at the November 4, 2026, annual general and special meeting. The CVR agreement is to be entered into on or before the merger closes.

InMed expects investors purchasing common shares on November 5 not to be holders of record by the close-of-business cutoff. Shares issued for the surrender of outstanding in-the-money stock options under the merger agreement will carry no corresponding CVR entitlement.

Positive

• Minor point. Forward-looking: it has not happened yet and may not happen.Eligible shareholders would receive one CVR per outstanding common share, providing rights to payments if specified events occur.

Negative

• Minor pointCVR distribution requires shareholder approval of Proposal No. 2 at the November 4, 2026, meeting.
• Minor pointShares issued for surrendered outstanding in-the-money options carry no corresponding CVR entitlement.

Key Figures

CVR distribution record date: November 5, 2026 Shareholder meeting: November 4, 2026 CVR entitlement: One CVR per outstanding common share

CVR distribution record date

November 5, 2026

Close of business; proposed merger distribution

Shareholder meeting

November 4, 2026

Approval of the Return of Capital Proposal is required for CVR distribution

CVR entitlement

One CVR per outstanding common share

For shareholders of record on the CVR Distribution Record Date

Key Terms

contingent value rights, form s-4, proxy statement/prospectus, in-the-money stock options

4 terms

contingent value rights financial

"distribution of the contingent value rights (each, a "CVR")"

Contingent value rights are special financial instruments that give their holder the potential to receive additional payments if certain future events or conditions happen, such as the achievement of specific business milestones. They are like a promise of extra rewards that depend on how well a project or company performs later on. Investors care about them because they offer a chance for extra gains but also carry uncertainty, as the extra payments are not guaranteed.

form s-4 regulatory

"registration statement on Form S-4 that includes a proxy statement/prospectus"

A Form S-4 is a legal document that companies file with the government to announce and explain a major business move, such as a merger or acquisition. It provides detailed information to help investors understand how the deal might affect the company's value and future prospects, similar to a detailed blueprint that clarifies the impact of a significant change.

proxy statement/prospectus regulatory

"Form S-4 that includes a proxy statement/prospectus"

A proxy statement or prospectus is a document that companies send to shareholders to provide important information about upcoming decisions or investments, such as voting on company issues or offering new shares to the public. It helps investors understand the details and risks involved, enabling them to make informed choices about their ownership or involvement with the company.

in-the-money stock options financial

"surrender of outstanding in-the-money stock options of InMed"

An in-the-money stock option is an option contract whose strike price already gives it intrinsic value relative to the current market price of the underlying share. For a call option, it means the strike price is below the current stock price (share price > strike); for a put option, it means the strike price is above the current stock price (strike > share price). The difference between the market price and the strike is the option's intrinsic value; the option may also carry additional time value, and being in-the-money does not by itself guarantee a net profit because the option buyer paid a premium to acquire it.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Vancouver, British Columbia--(Newsfile Corp. - October 26, 2026) - 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 that, pursuant to the previously announced agreement and plan of merger and reorganization dated May 19, 2026 (as amended, the "Merger Agreement") providing for the proposed merger (the "Merger") involving Mentari Therapeutics, Inc. ("Mentari"), it has fixed the close of business on November 5, 2026 (the "CVR Distribution Record Date") as the record date for the distribution of the contingent value rights (each, a "CVR") to InMed shareholders of record as of the CVR Distribution Record Date in connection with the Merger. The distribution of the CVRs is subject to and conditional upon the approval of shareholders of the Company at the annual general and special meeting of the Company scheduled to be held on November 4, 2026 (the "Meeting") of Proposal No. 2 (the "Return of Capital Proposal") described in the Company's registration statement on Form S-4 that includes a proxy statement/prospectus of the Company and a management information circular, which was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on October 1, 2026.

In connection with the Merger and pursuant to a contingent value rights agreement to be entered into on or prior to the closing date of the Merger (the "CVR Agreement"), InMed would issue to shareholders as of the CVR Distribution Record Date one CVR for each outstanding common share in the capital of the Company (each, a "Common Share") held by such shareholder as of the CVR Distribution Record Date, with each CVR representing the right to receive contingent payments upon the occurrence of certain events set forth in, and subject to and in accordance with the terms of, the CVR Agreement. Investors who purchase Common Shares on Thursday, November 5 are not expected to be holders of record as of the CVR Distribution Record Date. Common Shares to be issued in connection with the surrender of outstanding in-the-money stock options of InMed, as contemplated pursuant to the Merger Agreement, will not entail any corresponding CVR entitlement.

Odyssey Transfer and Trust Company is acting as the rights agent for the CVRs. Shareholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the issuance of CVRs. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.

About InMed

InMed Pharmaceuticals is a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed's pipeline consists of three separate programs in the treatment of Alzheimer's, ocular and dermatological indications. For more information, visit www.inmedpharma.com.

Investor Contact
Colin Clancy
Vice President, Investor Relations
and Corporate Communications
T: +1 604 416 0999
E: ir@inmedpharma.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "potential", "possible", "would" and similar expressions. Such statements, based as they are on current expectations of management, inherently involve numerous risks, uncertainties and assumptions, known and unknown, many of which are beyond our control. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information in this news release includes, but is not limited to, statements about: the date of the Meeting and approval of the Return of Capital Proposal; the CVR Distribution Record Date; and the CVR Agreement and the issuance of, and contingent payments (if any) with respect to, the CVRs, including the absence of any CVR entitlement for Common Shares issued upon the surrender of InMed stock options and the absence of any action required of shareholders in connection with the issuance of CVRs. With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: the ability to obtain all necessary regulatory approvals on a timely basis, or at all; the satisfaction or waiver of the conditions to the completion of the proposed Merger, including the receipt of required shareholder and stockholder approvals; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.

Additionally, there are known and unknown risk factors that could cause InMed's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. These risks and uncertainties include, but are not limited to, risks related to: the Merger may not be completed on the anticipated timeline or at all, the failure to satisfy the conditions to closing, the outcome of preclinical studies and clinical trials, the combined company's reliance on third parties, protection of intellectual property, the CVR Distribution Record Date or the closing date of the Merger changing, approval of the Return of Capital Proposal, and whether any CVR payments are actually ever made. Should one or more of these risks or uncertainties materialize, or should any of InMed's, Mentari's or the combined company's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. A complete discussion of the risks and uncertainties facing InMed's stand-alone business is disclosed in InMed's Annual Report on Form 10-K, as may be updated from time to time by InMed's Quarterly Reports on Form 10-Q and other filings with the SEC available at www.sec.gov.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

No Offer or Solicitation

This communication is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, or the solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Without limiting the foregoing, this communication does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in connection with any private placement or other financing by Mentari or InMed. Any such securities have not been and will not be registered under the Securities Act of 1933 (the "Securities Act") or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act or an applicable exemption therefrom.

Important Additional Information About the Merger and Where to Find It

In connection with the proposed merger, InMed has filed with the SEC a registration statement on Form S-4 that includes a proxy statement/prospectus of InMed and a management information circular and will file other relevant documents with the SEC and applicable Canadian securities regulators. The Form S-4 was declared effective on October 1, 2026, and InMed has mailed a definitive proxy statement/prospectus and management information circular to its shareholders. INVESTORS AND SECURITYHOLDERS OF INMED AND MENTARI ARE URGED TO READ THE FORM S-4, THE PROXY STATEMENT/PROSPECTUS AND MANAGEMENT INFORMATION CIRCULAR (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS) AND ALL OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC AND CANADIAN SECURITIES REGULATORS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT INMED, MENTARI, THE MERGER AND RELATED MATTERS. Investors and securityholders may obtain free copies of these documents (when available) through the SEC's website at www.sec.gov, on SEDAR+ at www.sedarplus.ca, or from InMed at inmedpharma.com/investors.

Participants in the Solicitation

InMed, Mentari and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from InMed's shareholders and Mentari's stockholders in connection with the proposed Merger. Information regarding InMed's directors and executive officers and a description of their direct and indirect interests, by security holdings or otherwise, is set forth in InMed's most recent annual report on Form 10-K and its other filings with the SEC and on SEDAR+. Additional information regarding the participants and their interests is or will be contained in the proxy statement/prospectus and management information circular and other relevant materials filed or to be filed with the SEC and Canadian securities regulators. These documents may be obtained free of charge as described above.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321032

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is InMed's CVR record date, and how many rights would shareholders receive?

The record date is close of business on November 5, 2026, with eligible shareholders receiving one CVR per outstanding common share, subject to approval of the Return of Capital Proposal. InMed expects investors who purchase shares on November 5 not to be holders of record by that cutoff.

What payments would InMed's contingent value rights provide?

Each CVR would provide a right to contingent payments upon specified events, subject to the terms of the CVR agreement. That agreement is to be entered into on or before the proposed merger's closing date.

Do InMed shareholders need to take action to receive their CVRs?

Shareholders holding shares in book-entry form or brokerage accounts need not take action in connection with CVR issuance. Beneficial holders are encouraged to contact their bank, broker or custodian with procedural questions. Odyssey Transfer and Trust Company is the CVR rights agent.