Mindset Pharma Provides Strategic Intellectual Property License to Cybin

Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset") a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, today announced an exclusive licensing agreement for Cybin Inc. (NEO:CYBN) (NYSE American:CYBN) to acquire intellectual property rights for a subset of Mindset's preclinical compounds (the "Agreement"). Under the terms of the Agreement, Cybin will license intellectual property related to preclinical compounds within Mindset's "Family 1" portfolio, excluding MSP-1014, Mindset's lead psychedelic drug candidate.

"Over the last two years, Cybin has assembled a leading psychedelic drug development organization and we are pleased that our novel preclinical compounds have been recognized to potentially support their R&D pipeline. Both our companies share the same ultimate goal of discovering and developing superior new psychedelic treatments to better meet the needs of patients," said James Lanthier, CEO of Mindset Pharma. "This licensing agreement – Mindset's second such agreement to advance its innovations to clinical study – is another example of Mindset successfully executing on its scientific and business strategies. Coupled with our existing collaboration, Mindset now has multiple "shots on goal" for commercializing its innovations, with additional potential from its recently announced new families."

The Agreement includes an initial payment by Cybin to Mindset of US $500,000 along with clinical development milestone payments which could total up to US $9,500,000 upon successful completion of agreed milestones, including the approval and commercialization of the first drug candidate. The agreement also contemplates a sales royalty of approximately 2% for all commercialized licensed products within the scope of the exclusive agreement, which is customary for drug licensing agreements of this nature.

About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next-generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next-generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin in addition to its own proprietary compounds. The company has a co-development agreement with the McQuade Center for Strategic Research and Development, a member of the Otsuka Pharmaceuticals family of companies, for its short-duration compounds, Mindset Families 2 and 4.

For further information on Mindset, please visit our website at www.mindsetpharma.com .

For more information, please contact:

Mindset Contacts:

Investor Contact:
Allison Soss
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267

Media Contact:
McKenna Miller
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 949-606-6585

Company Contact:
James Lanthier, CEO
Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development
Email: jatkinson@mindsetpharma.com
Phone: 416-479-4094

Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Cybin Inc.CYBN NYSEAMERICAN:CYBN Life Science Investing

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EMBARK is a leading-edge model of psychedelic-assisted psychotherapy co-developed by Alex Belser, Ph.D., and Bill Brennan, Ph.D. The EMBARK model is currently being implemented in two clinical-stage trials, including Cybin's Phase 1/2a trial evaluating the Company's investigational deuterated psilocybin analog, CYB003, designed to be a faster-acting, shorter duration treatment for major depressive disorder ("MDD").

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-- Cybin and The Chopra Foundation continue to work together to advance the research and education of psychedelic-based therapeutics as a new paradigm for the treatment of mental health --

Cybin Inc. ( NEO:CYBN ) (NYSE AMERICAN:CYBN) (" Cybin " or the " Company "), a biopharmaceutical company focused on progressing Psychedelics to Therapeutics ^® , and The Chopra Foundation ("Foundation"), a not-for-profit organization dedicated to improving health and well-being founded by Dr. Deepak Chopra, join everyone in recognizing World Mental Health Day. The two organizations continue to work toward the research and education of psychedelic-based therapies and their role in enhancing well-being and consciousness.

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Viemed Healthcare Announces Date and Time for Conference Call

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Interested parties may participate in the call by dialing:

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Viemed Announces Acquisition of Majority Interest in HomeMed, Forging Partnership With East Alabama Health

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"We are thrilled to join forces with the exceptional team at East Alabama Health to deliver best-in-class home medical services to their patients and expand HomeMed's business through the strategic partnership," said Viemed Chief Executive Officer Casey Hoyt. "This marks a significant milestone in our ongoing growth strategy, which includes hospital joint ventures and institutional partnerships. We view this transaction as a blueprint that can be replicated nationwide, enhancing care quality while simultaneously creating value for healthcare systems."

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Viemed Healthcare, INC. CONSOLIDATED BALANCE SHEETS *(Expressed in thousands of U.S. Dollars, except share amounts)*
	At December 31, 2023		At December 31, 2022
ASSETS
Current assets
Cash and cash equivalents	$	12,839	$	16,914
Accounts receivable, net		18,451		15,379
Inventory		4,628		3,574
Income tax receivable		—		26
Prepaid expenses and other assets		2,449		3,849
Total current assets	$	38,367	$	39,742
Long-term assets
Property and equipment, net		73,579		67,743
Finance lease right-of-use assets		401		—
Operating lease right-of-use assets		2,872		694
Equity investments		1,680		2,155
Debt investment		2,219		2,000
Deferred tax asset		4,558		3,119
Identifiable intangibles, net		567		—
Goodwill		29,765		—
Other long-term assets		887		1,590
Total long-term assets		116,528		77,301
TOTAL ASSETS	$	154,895	$	117,043

LIABILITIES
Current liabilities
Trade payables	$	4,180	$	2,650
Deferred revenue		6,207		4,624
Income taxes payable		2,153		—
Accrued liabilities		17,578		11,092
Finance lease liabilities, current portion		256		—
Operating lease liabilities, current portion		678		495
Current debt		1,072		—
Total current liabilities	$	32,124	$	18,861
Long-term liabilities
Accrued liabilities		558		889
Finance lease liabilities, less current portion		132		—
Operating lease liabilities, less current portion		2,184		199
Long-term debt		6,002		—
Total long-term liabilities	$	8,876	$	1,088
TOTAL LIABILITIES	$	41,000	$	19,949

Commitments and Contingencies		—		—

SHAREHOLDERS' EQUITY
Common stock - No par value: unlimited authorized; 38,506,161 and 38,049,739 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively		18,702		15,123
Additional paid-in capital		15,698		12,125
Retained earnings		79,495		69,846
TOTAL SHAREHOLDERS' EQUITY	$	113,895	$	97,094
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	154,895	$	117,043

Viemed Healthcare, INC. CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME *(Expressed in thousands of U.S. Dollars, except outstanding shares and per share amounts)*
	Three Months Ended December 31,						Year Ended December 31,
		2023			2022			2023			2022
Revenue	$	50,739		$	37,508		$	183,008		$	138,832

Cost of revenue		18,628			14,612			70,225			54,152

Gross profit	$	32,111		$	22,896		$	112,783		$	84,680

Operating expenses
Selling, general and administrative		23,905			17,172			87,884			68,161
Research and development		651			722			2,782			2,696
Stock-based compensation		1,534			1,317			5,849			5,202
Depreciation and amortization		434			241			1,391			1,012
Loss on disposal of property and equipment		272			178			645			346
Other income, net		26			(268	)		(98	)		(989	)
Income from operations	$	5,289		$	3,534		$	14,330		$	8,252

Non-operating income and expenses
Income from equity method investments		43			82			485			935
Interest expense, net		(256	)		(32	)		(424	)		(197	)

Net income before taxes		5,076			3,584			14,391			8,990
Provision for income taxes		1,599			1,146			4,148			2,768

Net income	$	3,477		$	2,438		$	10,243		$	6,222

Other comprehensive income
Change in unrealized gain/loss on derivative instruments, net of tax		—			(56	)		—			278
Other comprehensive income	$	—		$	(56	)	$	—		$	278

Comprehensive income	$	3,477		$	2,382		$	10,243		$	6,500

Net income per share
Basic	$	0.09		$	0.06		$	0.27		$	0.16
Diluted	$	0.09		$	0.06		$	0.25		$	0.16

Weighted average number of common shares outstanding:
Basic		38,492,731			38,015,795			38,354,071			38,655,403
Diluted		40,383,109			39,513,158			40,378,922			39,807,434

Viemed Healthcare, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS *(Expressed in thousands of U.S. Dollars)*
	Year Ended December 31,
		2023			2022
Cash flows from operating activities
Net income	$	10,243		$	6,222
Adjustments for:
Depreciation and amortization		21,862			15,630
Change in inventory reserve		—			(1,418	)
Stock-based compensation expense		5,849			5,202
Distributions of earnings received from equity method investments		980			1,079
Income from equity method investments		(485	)		(935	)
Income from debt investment		(219	)		—
Loss on disposal of property and equipment		645			346
Deferred income tax (benefit) expense		(1,439	)		1,746
Changes in working capital, net of effects from acquisitions:
Accounts receivable, net		(1,058	)		(2,556	)
Inventory		(472	)		301
Prepaid expenses and other assets		2,176			(2,838	)
Trade payables		(859	)		(318	)
Deferred revenue		851			871
Accrued liabilities		4,959			2,549
Income tax payable/receivable		2,179			1,867
Net cash provided by operating activities	$	45,212		$	27,748

Cash flows from investing activities
Purchase of property and equipment		(26,093	)		(22,898	)
Investment in equity investments		(20	)		(141	)
Cash paid for acquisition of HMP, net of cash acquired		(28,588	)		—
Investment in debt security		—			(2,000	)
Proceeds from sale of property and equipment		2,588			1,063
Net cash used in investing activities	$	(52,113	)	$	(23,976	)

Cash flows from financing activities
Proceeds from exercise of options		1,303			283
Proceeds from term notes		5,000			—
Principal payments on term notes		(3,721	)		(5,796	)
Proceeds from revolving credit facilities		8,000			—
Payments on revolving credit facilities		(7,005	)		—
Shares redeemed to pay income tax		(594	)		(143	)
Shares repurchased under the share repurchase program		—			(9,568	)
Repayments of lease liabilities		(157	)		(42	)
Net cash provided by (used in) financing activities	$	2,826		$	(15,266	)

Net decrease in cash and cash equivalents		(4,075	)		(11,494	)
Cash and cash equivalents at beginning of year		16,914			28,408
Cash and cash equivalents at end of period	$	12,839		$	16,914

Supplemental disclosures of cash flow information
Cash paid during the period for interest	$	851		$	231
Cash paid (received) during the period for income taxes, net of refunds	$	3,566		$	(846	)
Supplemental disclosures of non-cash transactions
Non-cash change in debt from the reclassification of debt issuance costs	$	(594	)	$	—
Net non-cash changes to operating lease	$	(41	)	$	530

Viemed Healthcare, INC. Reconciliation of Net Income to Non-GAAP Adjusted EBITDA *(Expressed in thousands of U.S. Dollars)* *(Unaudited)*
For the quarter ended	December 31, 2023		September 30, 2023		June 30, 2023			March 31, 2023			December 31, 2022		September 30, 2022		June 30, 2022		March 31, 2022
Net Income	$	3,477	$	2,919	$	2,330		$	1,517		$	2,438	$	1,055	$	967	$	1,762
Add back:
Depreciation & amortization		5,918		5,975		5,207			4,762			4,373		4,120		3,740		3,397
Interest expense (income)		256		237		(20	)		(49	)		32		42		59		64
Stock-based compensation ^(a)		1,534		1,453		1,471			1,391			1,317		1,309		1,271		1,305
Transaction costs ^(b)		61		177		94			206			—		—		—		—
Income tax expense		1,599		1,320		728			501			1,146		456		421		745
Adjusted EBITDA	$	12,845	$	12,081	$	9,810		$	8,328		$	9,306	$	6,982	$	6,458	$	7,273

	Year Ended December 31, 2023
Net Income	$	10,243
Add back:
Depreciation & amortization		21,862
Interest expense (income)		424
Stock-based compensation ^(a)		5,849
Transaction costs ^(b)		538
Income tax expense		4,148
Adjusted EBITDA	$	43,064

(in thousands)	Three Months Ended December 31,						Year Ended December 31,
		2023			2022			2023			2022
Net cash provided by operating activities	$	13,284		$	7,684		$	45,212		$	27,748
Purchase of property and equipment		(7,932	)		(5,572	)		(26,093	)		(22,898	)
Free Cash Flow	$	5,352		$	2,112		$	19,119		$	4,850

Viemed Healthcare, INC. Key Financial and Operational Information *(Expressed in thousands of U.S. Dollars, except vent patients)* *(Unaudited)*
For the quarter ended	December 31, 2023			September 30, 2023			June 30, 2023			March 31, 2023			December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022
Financial Information:
Revenue	$	50,739		$	49,402		$	43,311		$	39,556		$	37,508		$	35,759		$	33,310		$	32,255
Gross Profit		32,111			30,562			26,106			24,004			22,896			21,651			20,390			19,743
Gross Profit %		63	%		62	%		60	%		61	%		61	%		61	%		61	%		61	%
Net Income		3,477			2,919			2,330			1,517			2,438			1,055			967			1,762
Cash and Cash Equivalents (As of)		12,839			10,078			10,224			23,544			16,914			21,478			21,922			29,248
Total Assets (As of)		154,895			149,400			149,117			124,634			117,043			119,419			115,904			119,007
Adjusted EBITDA ⁽¹⁾		12,845			12,081			9,810			8,328			9,306			6,982			6,458			7,273
Operational Information:
Vent Patients ⁽²⁾		10,327			10,244			10,005			9,337			9,306			9,127			8,837			8,434

Mindset Pharma Provides Strategic Intellectual Property License to Cybin

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