FCM's Activist Letters

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In this letter dated August 11, 2022, to Chairman of the Board Carol Vallone, FCM proposed its value enhancement plan to drastically cut spending, target MindMed's focus on MM-120 and MM-110, cut executive spending, among a litany of other strategic enhancements to unlock significant value for MindMed shareholders.  

In this letter dated October 21, 2022, to Chairman of the Board Carol Vallone, FCM put forth a slew of documents and posed serious questions to the Board regarding the alleged Ceruvia deal, a conflict of interest that MindMed's Chief of Staff Nico Forte may have, and questions and documents casting aspersions on Robert Barrow's qualification. 

In this letter dated September 28, 2022, to Chairman of the Board Carol Vallone, FCM strenuously opposes MindMed's public offering of shares and pledges to hold MindMed Board and executives accountability through shareholder activist campaign. 

In this letter dated November 3, 2022, to Chairman of the Board Carole Vallone, FCM demands, for reasons expounded upon in the letter, the termination of CEO Robert Barrow, Chief of Staff Nico Forte, and Board Member Brigid Makes. FCM also demands that MindMed investigate the creation of clone website Medihuasca.

In this letter to shareholders dated October 13, 2022, FCM demonstrates the shortcomings in CEO Robert Barrow responses to critical questions regarding MindMed's intellectual property and serious issues relating to historic co-mingling of MindMed's employees with rival Ceruvia. FCM provided a slew of documents as exhibits to this letter.

In this letter dated October 3, 2022, FCM's Jake Freeman challenged MindMed's CEO Robert Barrow to a debate on the following issues: intellectual property, shareholder dilution, and conflicts of interest. Mr. Freeman proposed that the debate would be integral to creating intellectual synthesis on the issues.

In this letter dated November 14, 2022, FCM informs MindMed of a financial misstatement and questions whether MindMed has sufficient internal controls. Additionally, the letter expresses FCM's opinion on management receiving golden parachusets at this critical juncture.