Mydecine Innovations Group Inc. (“Mydecine” or the
“Company”) (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) a
biotechnology company engineering the next wave of innovative
medications and treatment protocols to directly address mental
health with a particular emphasis on addiction and PTSD, is pleased
to announce that, in connection with its previously announced
Common Share Subscription Agreement (the “
Subscription
Agreement”) with a third-party investor (the
“
Investor”) dated March 10, 2023, the Company has
filed a shelf prospectus supplement (the “
Prospectus
Supplement”) to the Company’s Final Short Form Base Shelf
Prospectus for the province of Québec and Amended and Restated
Final Short Form Base Shelf Prospectus for each of the provinces of
Canada, dated January 28, 2022 (together, the “
Shelf
Prospectus”).
The Prospectus Supplement is the second
supplement filed in connection with the Subscription Agreement and
provides, among other things, that the Company is qualifying the
distribution of up to 15,151,515 common shares (each a
“Share”) in the capital of the Company to the
Investor at a price of $0.33 per Share for aggregate gross proceeds
of up to $5,000,000.
The Company also announced today the closing of
the first tranche of the first issuance under the Subscription
Agreement (the “Offering”). The Offering resulted
in the issuance of 1,515,151 Shares at a price of $0.33 per Share
for aggregate gross proceeds of $500,000. The distribution of such
Shares is qualified by the Prospectus Supplement. The Company will
use the proceeds of the Offering as described in the Prospectus
Supplement.
The Prospectus Supplement and Base Shelf
Prospectus are available on the Company’s profile on the System for
Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com.
The Company also announced that Mr. Todd Heinzl
has been re-appointed to the board of directors of the Company. Mr.
Heinzl previously resigned as a director of the Company on April 3,
2023 to pursue other endeavors.
Mr. Heinzl holds over 30 years of experience in
the investment, merchant banking, and financial services industry.
In recent years, Mr. Heinzl, as a consulting professional, has
integrated the governance, a mandatory component, and management of
the process of listing companies on a senior stock exchange such as
NASDAQ largely known as Governance as a Service. Sector agnostic,
Mr. Heinzl works with companies from a variety of industries to
facilitate maturity within their stock listings in an orderly,
precise, and compliant 7 process. Senior stock exchanges such as
NASDAQ Capital Market, NEO Exchange, London Stock Exchange are
increasingly demanding and rigorous oversight regarding the listing
requirements of the issuers thereby making exchange experience
invaluable. The Company welcomes Mr. Heinzl back to the board of
directors.
About Mydecine
Innovations Group
Inc.
Mydecine Innovations Group™ (NEO: MYCO) (OTC:
MYCOF) (FSE: 0NFA) is a biotechnology company developing the next
generation of innovative medications and therapies to address
mental health disorders such as nicotine addiction and
post-traumatic stress disorder (PTSD). The core strategy blends
advanced technology with an elaborate infrastructure for drug
discovery and development. Mydecine's dedicated multinational team
constantly develops new paths for breakthrough treatment solutions
in areas with considerable unmet needs. By collaborating with some
of the world's leading specialists, the Company aspires to
responsibly speed up the development of breakthrough medications to
provide patients with safer and more effective treatment solutions.
At the same time, Mydecine's approach focuses on the next
generation of psychedelic medicine by creating innovative compounds
with unmatched therapeutic potential through its clinical trial
efforts with world-class scientific and regulatory expertise.
Founded in 2020, Mydecine is based out of Colorado, USA, with
extended offices in Alberta, Canada, and Leiden, Netherlands.
Learn more at: https://www.mydecine.com/ and
follow the company on Twitter, LinkedIn, YouTube, and
Instagram.
For more
information, please
contact:
Media
Contactpr@mydecineinc.com
Investor
Relationsinvestorrelations@mydecineinc.com
On behalf of
the Board of
Directors
Joshua Bartch, Chief Executive
Officercontact@mydecineinc.com
For further information about Mydecine, please visit the
Company’s profile on SEDAR at https://sedar.com/ or visit the
Company’s website at https://www.mydecine.com/.
Forward-Looking
Statements
Certain statements in this news release
constitute “forward-looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking
statements and information are provided for the purpose of
providing information about management’s expectations and plans
relating to the future. All of the forward-looking information made
in this news release is qualified by the cautionary statements
below and those made in our other filings with the securities
regulators in Canada. Forward-looking information contained in
forward-looking statements can be identified by the use of words
such as “are expected,” “is forecast,” “is targeted,”
“approximately,” “plans,” “anticipates,” “projects,” “anticipates,”
“continue,” “estimate,” “believe” or variations of such words and
phrases or statements that certain actions, events or results
“may,” “could,” “would,” “might,” or “will” be taken, occur or be
achieved. All statements, other than statements of historical fact,
may be considered to be or include forward-looking information.
This news release contains forward-looking information regarding,
the use of proceeds and the closing of the Offering. Readers are
cautioned that these forward-looking statements are neither
promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
The forward-looking information set forth herein
reflects the Company’s reasonable expectations as at the date of
this news release and is subject to change after such date. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law. The forward-looking information contained in this news release
is expressly qualified by this cautionary statement.
This news
release shall
not constitute
an offer to
sell or the
solicitation of
an offer to
buy nor shall
there be any sale
of the
securities in
any State 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, and may not be offered or sold in the United
States absent registration or an applicable exemption from the
registration requirements
of the United
States Securities
Act of 1933,
as amended, and
applicable state
securities laws.