SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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InMed Pharmaceuticals Inc.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 14, 2022, the Company terminated the Consulting Agreement for Brenda Edwards effective November 20, 2022. Ms. Edwards has been engaged on an interim consulting basis through a placement agent whereby the Company paid the placement agency a monthly retainer and paid directly to Ms. Edwards an hourly rate for her services. Ms. Edwards has served as the Company’s Interim Chief Financial Officer since April 1, 2022.
The Company’s Controller, Sarah Li, has been promoted to Vice President of Accounting and Controller and Principal Accounting Officer. Ms. Li has served as the Company’s controller since January 2020. Prior to that, she was Controller of GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG) from March 2017 until September 2019.
The Company is currently in discussions to finalize the engagement of interim financial leadership (CFO) consulting services.
Item 7.01 Regulation FD Disclosure.
On November 17, 2022, the Company issued a press release announcing the termination of Ms. Edwards’ consulting agreement. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
The following exhibits shall be deemed to be furnished, and not filed:
|99.1||News release, dated November 17, 2022|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document and included as Exhibit 101)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|INMED PHARMACEUTICALS INC.|
|Date: November 17, 2022||By:||
/s/ Eric A Adams
Eric A Adams
Suite 310-815 W. Hastings St.
Vancouver, BC, Canada V6C 1B4
InMed Provides Update on Management Changes
Vancouver, BC – November 17, 2022 – InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, today announces that Sarah Li has been promoted to Vice President of Accounting and Controller at InMed. Ms. Brenda Edwards will be transitioning out of her position as interim Chief Financial Officer at the Company effective November 20, 2022. Ms. Edwards joined the Company in an interim contract role to assist the Company with financial reporting matters following the retirement of the Company’s former Chief Financial Officer in March 2022.
The Company is currently in discussions to finalize the engagement of interim financial leadership consulting services.
“We are pleased to announce this promotion of Ms. Li to her new position as VP of Accounting and Controller. She is a valued employee who has grown in her responsibilities and overall contribution level to the Company over the past several years,” commented Eric A. Adams, InMed President and Chief Executive Officer. “Also, on behalf of the Board of Directors and our employees, I would like to thank Ms. Edwards for her hard work as interim CFO of InMed and we wish her all the best in her future endeavors.”
About InMed: InMed Pharmaceuticals is a global leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. We also have significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, visit www.inmedpharma.com and www.baymedica.com.
Senior Director, Investor Relations
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; being a global leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs; InMed’s position within the pharmaceutical research market; the effective date of Ms. Edwards resignation; and about discussions to finalize the engagement of interim financial leadership consulting services.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions. 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. 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 and other filings with the Security and Exchange Commission on 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.