InMed Announces Share Consolidation in Connection with Proposed Merger

Vancouver, British Columbia--(Newsfile Corp. - November 2, 2026) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announced that, pursuant to the previously announced agreement and plan of merger and reorganization dated May 19, 2026 (as amended, the "Merger Agreement") providing for the proposed merger (the "Merger") involving Mentari Therapeutics, Inc. ("Mentari"), the Company expects to consolidate all of its issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for each ten (10) pre-consolidation Common Shares (the "Consolidation"). The Consolidation was approved by the Company's Board of Directors in accordance with the Company's Articles and the Business Corporations Act (British Columbia) (the "BCBCA") and does not require the approval of shareholders of the Company; however, the Company will only proceed with the Consolidation if the approval of shareholders of the Company at the annual general and special meeting of the Company scheduled to be held on November 4, 2026 (the "Meeting") is obtained in respect of Proposal No. 1 (the "Nasdaq Share Issuance Proposal"), Proposal No. 2 (the "Return of Capital Proposal"), and Proposal No. 3 (the "Redomestication Proposal", and collectively with the Nasdaq Share Issuance Proposal and the Return of Capital Proposal, the "Proposals"), each as described in the Company's registration statement on Form S-4 that includes a proxy statement/prospectus of the Company and a management information circular, which was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on October 1, 2026.