MYCO:CC - Mydecine Innovations Group Inc. Announces Closing of Share for Debt Settlement
(TheNewswire)
V ANCOUVER, BC – ( TheNewswire / 27 March 2024 ) Mydecine Innovations Group Inc . (CSE: MYCO) (AQSE: MYIG) (FSE: 0NFA)(OTC: MYCOF) (the “ Company ” or “ Mydecine ”)announces that it has closed a debt settlement (the “ Debt Settlement ”)to partially settle outstanding debts owed to a creditor (the“ Creditor ”) for legal services rendered.
Pursuant to the Debt Settlement, the Company issued anaggregate of 2,941,176 common shares (“ Shares ”) at adeemed price of $0.017 per Share, based on a 20-day VWAP (the“ ShareSettlement ”). The Share Settlement settles$50,000.00 in debts owed to the Creditor, which is partial settlementfor the total amount of bona fide debts owed to the Creditor.
The Company relied on the “Employee, ExecutiveOfficer, Director and Consultant” exemption contained in section2.24 (the “ Exemption ”) of National Instrument 45-106 - ProspectusExemptions , to issue the Shares to the Creditor.
An application will be made to the Aquis Stock Exchange(" Aquis ") for the 2,941,176 new Shares to be admitted to trading. Admission is expectedto take place, and dealings on Aquis in the Shares are expected tocommence, at 08:00 on or around 4 April 2024.
Following Admission, the Company will have 58,127,177Ordinary Shares in issue. Since the Company currently holds no sharesin treasury, the total number of voting rights in the Company willtherefore be 58,127,177. These figures may therefore be used byShareholders as the denominator for the calculations by which theywill determine if they are required to notify their interest in, or achange in their interest in, the share capital of the Company underthe FCA's Disclosure Guidance and Transparency Rules.
The Directors of Mydecine take responsibility for thisannouncement.
This announcement contains inside information for thepurposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 asit forms part of UK domestic law by virtue of the European Union(Withdrawal) Act 2018 ("MAR"), and is disclosed inaccordance with the Company's obligations under Article 17 ofMAR.
For more information, please contact:
Media Contact
investorrelations@mydecineinc.com
On behalf of the Board of Directors
Joshua Bartch, Chief Executive Officer contact@mydecineinc.com
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/ .
About Mydecine Innovations Group Inc.
Mydecine Innovations Group™ is abiotechnology company developing the next generation of innovativemedications and therapies to address mental health disorders such asnicotine addiction and post-traumatic stress disorder (PTSD). The corestrategy blends advanced technology with an elaborate infrastructurefor drug discovery and development. Mydecine's dedicated multinationalteam constantly develops new paths for breakthrough treatmentsolutions in areas with considerable unmet needs. By collaboratingwith some of the world's leading specialists, the Company aspires toresponsibly speed up the development of breakthrough medications toprovide patients with safer and more effective treatment solutions. Atthe same time, Mydecine's approach focuses on the next generation ofpsychedelic medicine by creating innovative compounds with unmatchedtherapeutic potential through its clinical trial efforts withworld-class scientific and regulatory expertise.
Learn more at: https://www.mydecine.com/ and follow the company on Twitter, LinkedIn, YouTube, and Instagram.
Certain statements in this news release constitute“forward-looking information” within the meaning of applicableCanadian securities legislation. Forward-looking statements andinformation are provided for the purpose of providinginformation 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 statementscan 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” betaken, occur or be achieved. All statements, other thanstatements of historical fact, may be considered to be or include forward-looking information. This news release contains forward-looking information regarding the Debt Settlement. Readers are cautioned that these forward-looking statements are neither promises norguarantees, and are subject to risks and uncertainties that may cause future results to differ materially from thoseexpected. Although the Company has attempted to identify importantfactors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors thatcause results not to be as anticipated, estimated or intended. Therecan be no assurance that such information will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such information.
The forward-looking information set forth hereinreflects the Company’s reasonable expectations as at the date ofthis news release and is subject to change after such date. TheCompany disclaims any intention or obligation to update or reviseany forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. The forward-looking informationcontained in this news release is expressly qualified by thiscautionary 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 notbeen, nor will they be, registered under the United States SecuritiesAct of 1933, as amended, and may not be offered or sold in the UnitedStates absent registration or an applicable exemption from theregistration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
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