Mind Medicine (MindMed) Inc. Announces Proposed Public Offering

Mind Medicine (MindMed) Inc. Announces Proposed

NEW YORK, October 29, 2025 - Mind

Medicine (MindMed) Inc. (NASDAQ: MNMD) (the "Company" or "MindMed"), a late-stage clinical biopharmaceutical

company developing novel product candidates to treat brain health disorders, today announced that it intends to offer and sell, subject

to market conditions, common shares and, to certain investors, pre-funded warrants to purchase common shares in an underwritten public

offering. In addition, MindMed intends to grant the underwriters an option for a period of 30 days to purchase additional common shares

at the public offering price, less underwriting discounts and commissions. All of the common shares and pre-funded warrants are being

MindMed intends to use the net proceeds from this

offering to fund the research and development of its product candidates and working capital and general corporate purposes. MindMed may

also use a portion of the net proceeds to invest in or acquire additional businesses or compounds that it believes are complementary to

its own, although it has no current plans, commitments or agreements with respect to any future acquisitions as of the date of this press

Jefferies LLC, Leerink Partners and Evercore ISI

are acting as the joint bookrunning managers for the offering. The offering is subject to market conditions and there can be no assurance

as to whether or when the offering may be completed, or as to the actual size or terms of the offering. No distribution under the offering

shall occur in Canada or to a person resident in Canada.

the offering are being offered by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-280548) that

was filed with the Securities and Exchange Commission ("SEC") on June 28, 2024 and became effective upon filing. The

securities will be offered by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of

the shelf registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms

of the offering will be filed with the SEC and SEDAR+ and will be available on the SEC's website at www.sec.gov and on SEDAR+'s

website at www.sedarplus.ca. Copies of the preliminary prospectus supplement, when available, and the accompanying prospectus relating

to the offering may be obtained, when available, by contacting the following: Jefferies LLC, Attention: Equity Syndicate Prospectus Department,

520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; Leerink

Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105,

or by email at syndicate@leerink.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New

York, NY 10055, by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com. The final terms of the offering will be disclosed

in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer

to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities

in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under

the securities laws of any such state or jurisdiction.

MindMed is a late-stage clinical biopharmaceutical

company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development

and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative product

candidates targeting neurotransmitter pathways that play key roles in brain health.

MindMed trades on NASDAQ under the symbol MNMD.

Forward-Looking Statements

Certain statements in this press release related to the Company constitute

"forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking

information is not based on historical facts, but rather on current expectations and projections about future events and is therefore

subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied

by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "will,"

"may," "should," "could," "intend," "estimate," "plan," "anticipate,"

"expect," "believe," "potential" or "continue," or the negative thereof or similar variations.

Forward-looking information in this press release includes, but is not limited to, the uncertainties related to market conditions, the

intended use of proceeds, the filing of the preliminary prospectus supplement and the accompanying prospectus relating to the offering

and the completion of the offering on the anticipated terms or at all. There can be no assurance that this offering will close and the

Company will receive the net proceeds therefrom. There are numerous risks and uncertainties that could cause actual results and the Company's

plans and objectives to differ materially from those expressed in the forward-looking information, including market conditions and satisfaction

of the customary closing conditions for the offering. These forward-looking statements are based on our current expectations, estimates,

forecasts and projections about the offering, our business and the industry in which we operate and management's beliefs and assumptions,

including the satisfaction of all customary closing conditions and the non-occurrence of the risks and uncertainties that are described

in our filings made with the SEC and the applicable Canadian securities regulators or other events occurring outside of our normal course

of business, and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other

factors that are in some cases beyond our control. Except as required by law, the Company undertakes no duty or obligation to update any

forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

VP, Head of Investor Relations

Source: Mind Medicine (MindMed) Inc.