Clearmind, Dr Glitter sign term sheet for development of alcohol substitute

Clearmind Medicine (CMND) has signed a non-binding term sheet with Dr. Glitter. The two companies plan to collaborate on the development and commercialization of Clearmind’s proprietary MEAI-based alcohol substitute and Dr Glitter’s proprietary ActivCrystal technology. The term sheet outlines preliminary terms that, upon the mutual agreement of the parties, will be memorialized in a definitive agreement that sets forth a framework for advancing Clearmind and Dr Glitter’s innovations. Under the terms of the term sheet, upon the execution of the definitive agreement, the parties will work together to develop MEAI-based alcohol alternative aimed to naturally replicate the known sensations from drinking alcohol without the associated health risks or hangover. In ActivCrystal format, Clearmind’s MEAI-based alcohol alternative may be sprinkled into users’ choice of beverage or food, and dosage may be varied by users individually. This collaboration has the potential to mark an important milestone in Clearmind’s strategy to bring MEAI to global markets, addressing the urgent need for innovative solutions to combat alcohol misuse – a major contributor to countless annual deaths worldwide.