REG-Mydecine Innovations Group Inc: MYDECINE INNOVATIONS GROUP FILES PROSPECTUS SUPPLEMENT, ANNOUNCES CLOSING UNDER SHARE SUBSCRIPTION AGREEMENTS

Mydecine InnovationsAnnouncement

31/10/2023 07:15

 

MYDECINE INNOVATIONS GROUP FILES PROSPECTUS SUPPLEMENT, ANNOUNCES CLOSING
UNDER SHARE SUBSCRIPTION AGREEMENTS

 

 

VANCOUVER, BC, 31 October 2023 – Mydecine Innovations Group Inc.
(“Mydecine” or the “Company”) (CSE:MYCO) (AQSE:MYIG) (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: (i) its previously announced Common Share Subscription
Agreement (the “Opensky Subscription Agreement”) with OpenSky
Opportunities Fund Ltd. (“Opensky”) dated 10 March 2023; and (ii) a Common
Share Subscription Agreement dated 25 October 2023 (the “Standalone
Subscription Agreement”, and collectively with the Opensky Subscription
Agreement, the “Subscription Agreements”) between the Company and an
arms-length investor (the “Standalone Investor” and collectively with
Opensky, the “Investors”), 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 28 January 2022 (together, the “Shelf Prospectus”).

The Prospectus Supplement provides, among other things, that the Company is
qualifying the distribution of up to 7,360,000 common shares (each a
“Share”) in the capital of the Company to the Investors under the
Subscription Agreements at a price of $0.15 per Share for aggregate gross
proceeds of up to $1,104,000.

The Company also announces today the closing of Share issuances under the
Subscription Agreements (the “Offerings”). The Offerings resulted in the
issuance of 7,360,000 Shares at a price of $0.15 per Share for aggregate gross
proceeds of $1,104,000. 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.

An application will be made to the Aquis Stock Exchange ("Aquis") for the
7,360,000 new Shares to be admitted to trading. Admission is expected to take
place, and dealings on Aquis in the Shares are expected to commence, at 08:00
on or around 3 November 2023.

 

Following Admission, the Company will have 52,567,458 Ordinary Shares in
issue. Since the Company currently holds no shares in treasury, the total
number of voting rights in the Company will therefore be 52,567,458. These
figures may therefore be used by Shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

The Prospectus Supplement and Base Shelf Prospectus are available on the
Company website and on the Company’s profile on the System for Electronic
Document Analysis and Retrieval (SEDAR+) at  www.sedarplus.ca.

 

About Mydecine Innovations Group

 Mydecine Innovations Group is a publicly traded, pre-revenue
biopharmaceutical company that began operations in North America and Europe in
early 2020. Mydecine was founded to increase physicians' access to
serotonin-modulating medicine. Recent research has demonstrated the
therapeutic potential of psychedelic substances such as psilocybin and MDMA
for treating intractable conditions such as pain, anxiety, depression,
addiction, and PTSD, along with neurodegenerative disorders. Mydecine believes
these compounds can be safer, more effective, and more accessible for patients
and medical professionals through modern drug chemistry paired with artificial
intelligence (AI). Through its exclusive partnership with Applied
Pharmaceutical Innovation based at the University of Alberta, Mydecine is
developing innovative medications for target indications with high mortality
rates that have lacked innovation for decades and are controlled by dominant
corporations. Mydecine developed several prodrug families, beginning with a
psilocybin-derived smoking cessation drug undergoing a NIDA-funded trial at
Johns Hopkins University. Mydecine is also developing MYCO-006—short-acting
chemical analogs derived from MDMA for treating various conditions, including
anxiety and pain. Mydecine utilises cutting-edge artificial intelligence (AI)
and pharma research infrastructure at the University of Alberta to develop and
manufacture new medications to make them affordable and accessible to the
general public upon Health Canada and FDA approval. The Mydecine team is
enthusiastic about its mission and is dedicated to creating a positive
difference in the lives of others.

 

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.

 

Learn more at: https://www.mydecine.com/ and follow the company on Twitter,
LinkedIn, YouTube, and Instagram.

 

For more information, please contact:

Media Contact
pr@mydecineinc.com

Investor Relations
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/.

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
2
MYDECINE INNOVATIONS GROUP INC.

Suite 810–789 West Pender Street, Vancouver, British Columbia, V6C 1H2 T:
604-687-2038

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