- Biotechnology company Mydecine Innovations Group ( OTCPK:MYCOF ) said it has entered into a share subscription agreement with a third party investor and that the current CFO has resigned.
- The investor has subscribed for ~327M shares at $0.75 per share for aggregate gross proceeds of $245M.
- Funds raised through the private placement will be used to further the company's drug development initiatives.
- Additionally, Larry Dean Ditto has resigned as CFO for personal reasons, effective Aug. 19, and COO Damon Michaels is appointed interim CFO.
- Also, MYCOF appointed Joshua Bartch, Todd Heinzl and Robert Roscow audit committee members on an interim basis, after three independent directors resigned from the post.
- Source: Press Release
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Mydecine Innovations enters into $245M share subscription agreement, CFO resigns