Mydecine Innovations Group Inc. Announces Share for Debt Settlement
(TheNewswire)
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VANCOUVER, BC /
TheNewswire /
20
March 2024 —
Mydecine Innovations Group
Inc
. (CSE: MYCO) (FSE: 0NFA), (OTC: MYCOF)
(AQSE: MYIG) (the “
Company
” or “
Mydecine
”)
announced that it has entered into a debt settlement agreement (the
“
Settlement
Agreement
”) to partially settle outstanding
debts owed to a creditor (the “
Creditor
”) for legal services rendered.
Pursuant to the Settlement Agreement, the Company has agreed to issue
an aggregate of 2,941,176 common shares (“
Shares
”) at a
deemed price of $0.017 per Share, based on a 20-day VWAP (the
“
Share
Settlement
”). The Company anticipates closing
the Share Settlement on or about 27 March 2024. The Share Settlement
will settle $50,000.00 in debts owed to the Creditor, which is partial
settlement for the total amount of bona fide debts owed to the
Creditor.
The board of directors of the Company has determined
that it is in the best interests of the Company to settle the
outstanding debts by the issuance of the Shares in order to preserve
the Company’s cash for working capital.
The Company will be relying on the “Employee,
Executive Officer, Director and Consultant” exemption contained in
section 2.24 (the “
Exemption
”) of National Instrument 45-106 –
Prospectus
Exemptions
, to issue the Shares to the
Creditor.
The Directors of Mydecine take responsibility for this
announcement.
This announcement contains inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as
it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (“MAR”), and is disclosed in
accordance with the Company’s obligations under Article 17 of
MAR.
About Mydecine Innovations Group
Inc.
Mydecine Innovations Group™ 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.
Learn
more
at:
https://www.mydecine.com/
and
follow
the
company
on
Twitter,
LinkedIn,
YouTube,
and
Instagram.
For more information, please
contact:
Media
Contact
On behalf of the Board of
Directors
Joshua Bartch, Chief Executive Officer
[email protected]
AQSE Corporate Advisor
Novum Securities Limited Tel:
+44 (0)207 399 9400
David Coffman/ George Duxberry
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/
.
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
Share Settlement.
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.
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