REG-Mydecine Innovations Group Inc: Share for Debt Settlement

Mydecine InnovationsAnnouncement

21/03/2024 07:00

MYDECINE INNOVATIONS GROUP INC.

ANNOUNCES SHARE FOR DEBT SETTLEMENT

 

VANCOUVER, BC - (21 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.

 

 
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

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 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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