MindBeacon Holdings Inc. Announces Pricing of Initial Public Offering

December 17, 2020


TORONTO, Dec. 17, 2020 /CNW/ - MindBeacon Holdings Inc. ("MindBeacon" or the "Company") announced today that it has obtained a receipt for its final base PREP prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada and has entered into an underwriting agreement in respect of its initial public offering (the "Offering"). The Offering consists of a treasury offering of an aggregate of 8,125,000 common shares of the Company at a price of $8.00 per share for aggregate gross proceeds of $65 million and, if the Over-Allotment Option (as defined below) is exercised, a secondary offering by certain shareholders of the Company (the "Selling Shareholders"). If the Over-Allotment Option is exercised in full, the Selling Shareholders will receive aggregate gross proceeds of approximately $10 million. The offering is expected to close on December 23, 2020, subject to customary closing conditions.

The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of MindBeacon's common shares, subject to fulfillment by MindBeacon of all of the initial listing requirements and conditions of the TSX. The common shares are expected to begin trading on the TSX on an "if, as and when issued basis" on December 18, 2020 under the symbol "MBCN".

The Offering is being led by TD Securities Inc. and Credit Suisse Securities (Canada), Inc. as joint bookrunners, Canaccord Genuity Corp. as co-lead underwriter and Bloom Burton Securities Inc., Beacon Securities Limited and Echelon Wealth Partners Inc. as underwriters.

The Selling Shareholders have granted to the underwriters an option (the "Over-Allotment Option"), exercisable, in whole or in part, at any time and from time to time for a period of 30 days after closing of the Offering, to purchase from the Selling Shareholders up to 1,218,750 common shares of the Company (representing 15% of the aggregate number of common shares sold in the base offering) at a price of $8.00 per share, for the purpose of covering the underwriters' over-allocation position, if any.

A copy of MindBeacon's supplemented PREP prospectus will be available on SEDAR at www.sedar.com on December 18, 2020.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of MindBeacon in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.

About MindBeacon

Established in 2015 through a partnership with CBT Associates, a psychologist-led private clinic specializing in evidence-based therapy including CBT, MindBeacon is developing a comprehensive continuum of mental health offerings through our online BEACON platform ("BEACON") and in-clinic care. BEACON launched in 2017 as one of the first commercially available, digitally-native platforms offering therapist-assisted internet-based CBT in Canada. MindBeacon is using data to develop mental health programs that are designed to address an individual's unique needs with effective, affordable and accessible therapy. With a protocol-driven therapeutic approach and the ability to deliver therapy through a team of regulated mental health professionals, BEACON is growing and is changing the therapy landscape. MindBeacon aims to provide a comprehensive and accessible service offering to support clients throughout their journey to better mental health.

Forward-Looking Statements

This news release may contain forward-looking statements which reflect management's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. MindBeacon disclaims any obligation to update these forward-looking statements except as required under applicable securities laws.

SOURCE MindBeacon Holdings Inc.

For further information: For media inquiries, please contact media@mindbeacon.com; For investor relations inquiries, please contact investor-relations@mindbeacon.com.

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