CEO.CA Chairman's Briefing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 21, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

InMed Pharmaceuticals, Inc. ("InMed" or the "Company") (CSE:IN)(CSE:IN.CN)(OTCQB:IMLFF), a biopharmaceutical company specializing in the research and development of novel, cannabinoid-based drug therapies, is pleased to announce that it has filed a preliminary short form prospectus (the "Preliminary Prospectus") with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario in connection with its public offering (the "Offering") of common shares in the capital of the Company (the "Common Shares") at a price per Common Share (the "Offering Price") and for an amount of gross proceeds to be determined in the context of the market. 

The Offering will be conducted on a marketed, underwritten basis by a syndicate of underwriters led by Canaccord Genuity Corp. with Roth Capital Partners, LLC serving as a placement agent for sales of common shares in the United States (collectively, the "Underwriters").

The Company has agreed to grant the Underwriters an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part, for a period of 30 days from the closing of the Offering (the "Closing"), to offer at the Offering Price an additional 15% of the number of Common Shares sold in the Offering, solely to cover over-allotments, if any, and for market stabilization purposes.

The Offering is expected to close on or about May 17, 2017 and is subject to the Company and the Underwriters entering into a definitive underwriting agreement and the Company receiving all necessary regulatory approvals, including the approval of the Canadian Securities Exchange.

InMed intends to use the net proceeds from this offering for the following purposes: to support the continued research and development of INM-750 for the treatment of Epidermolysis Bullosa; to further develop the Company's other research and development programs including its biosynthesis assets; for general and administrative expenses of the Company; and to fund working capital.

For further details with respect to the Offering, please see the Preliminary Prospectus, a copy of which is available on SEDAR at www.sedar.com.

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any of the securities being offered nor shall there be any sale of any of the securities being offered in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

About InMed

InMed is a preclinical stage biopharmaceutical company specializing in the research and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. InMed conducts research, discovery, preclinical, clinical, regulatory, manufacturing and commercial development activities for its product candidates. InMed's proprietary bioinformatics database assessment tool, the biosynthesis manufacturing process and its drug development programs are the fundamental value drivers of the Company. For more information, visit www.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 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. Forward-looking information in this news release includes statements about the expected closing date of the Offering; entering into a formal underwriting agreement; receiving all necessary regulatory approvals for the Offering; the use of net proceeds from the Offering and the expected fundamental value drivers of the Company.

With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: receipt of regulatory approval for the Offering; completion of a definitive underwriting agreement; successful completion of the Offering; 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 which 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. Known risk factors include, among others: InMed may not complete the Offering at the time expected, or at all; InMed may not receive necessary regulatory approvals for the Offering; InMed and the Underwriters may not enter into a definitive underwriting agreement; InMed may not use net proceeds received from the Offering as currently contemplated and InMed's proprietary platform technology, product pipeline and accelerated development pathway may not return their expected level of value.

A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com. 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.

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