MYCOF - Mydecine Applies for Management Cease Trade Order
(TheNewswire)
VANCOUVER, British Columbia – TheNewswire - May 2, 2024 — MydecineInnovations Group Inc. (the “ Company ”) (CSE: MYCO)(FSE: 0NF0) (OTC: MYCOF) (AQSE: MYIG) announces that it has requesteda temporary Management Cease Trade Order (“MCTO”) from the BritishColumbia Securities Commission (“BCSC”) in connection with theCompany’s filing of its audited annual financial statements (the“Audited Financial Statements”) and MD&A for the financialyear ended December 31, 2023.
The Company is requesting the MCTO in order to secureadditional time to finalize its Audited Financial Statements, therelated MD&A and the applicable CEO and CFO certifications (the“Annual Filings”). The delay in filing the Annual Filings is aresult of being required to restate its December 31, 2022 auditedfinancial statements (as announced in its news release dated April 25,2024) and its recent change of auditor. The Company is working withits new auditor and accounting team to draft Financial Statements andrespond to all queries. It is the Company’s reasonable expectationthat the Annual Filings will be finalized on or before June 28, 2024or sooner.
By way of background and as required by the BCSC, theCompany notes the following:
1. The Company is required to file itsAnnual Filings all in accordance with IFRS within 120 days after theend of its completed financial year, such date being April 29, 2024(the “Annual Filing Deadline”) as required by National Instrument51-102 Continuous Disclosure Obligations (“NI 51-102”). TheCompany does not anticipate that it will be able to complete theAnnual Filings on or before the Annual Filing Deadline.
2. The Company and its auditors are workingdiligently to prepare and file the Annual Filings, on or before June30, 2024.
3. The Company confirms that it intends toissue a status report on a bi-weekly basis, for as long as it remainsin default of the Annual Filing Deadline in respect of the AnnualFilings.
4. The Company is not subject to anyinsolvency proceeds.
5. There is no other material informationconcerning the affairs of the Company that has not been generallydisclosed.
The Company has imposed an insider trading blackoutpending the filing of the Annual Filings, and will comply with thealternative information guidelines described in National Policy 12-203 Management Cease TradeOrders during such period.
On behalf of the Boardof Directors
MYDECINE INNOVATIONSGROUP INC.
Joshua Bartch
Chief Executive Officer
contact@mydecineinc.com
About Mydecine Innovations Group Inc.
Mydecine Innovations Group™ is a biotechnologycompany developing the next generation of innovative medications andtherapies to address mental health disorders such as nicotineaddiction and posttraumatic stress disorder (PTSD). The core strategyblends advanced technology with an elaborate infrastructure for drugdiscovery and development. Mydecine's dedicated multinational teamconstantly develops new paths for breakthrough treatment solutions inareas with considerable unmet needs. By collaborating with some of theworld's leading specialists, the Company aspires to responsibly speedup the development of breakthrough medications to provide patientswith safer and more effective treatment solutions. At the same time,Mydecine's approach focuses on the next generation of psychedelicmedicine by creating innovative compounds with unmatched therapeuticpotential through its clinical trial efforts with world-classscientific and regulatory expertise.
Learn more at: https://www.mydecine.com/ and follow thecompany on Twitter, LinkedIn, YouTube, and Instagram.
Forward-lookingInformation Statement
This news release may containcertain “forward-looking statements” and “forward-lookinginformation” within the meaning of applicable Canadian and UnitedStates securities laws. When used in this news release, the words“anticipate”, “believe”, “estimate”, “expect”,“target, “plan”, “forecast”, “may”, “schedule” andother similar words or expressions identify forward-looking statementsor information. These forward-looking statements or information mayrelate to the anticipated timing for the filing of the Annual Filings,and other factors or information. Such statements represent theCompany’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause results, performance or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations.
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