Mydecine Innovations Group Inc. (NEO:MYCO | 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 share for debt settlements for debt owed to certain arms-length creditors, service providers and debtors of the Company.
Pursuant to the debt settlement agreements entered into between the Company and each of the Creditors, the Debt will be converted into common shares (the “Settlement Shares”) in the capital of the Company. The Debt Settlements were undertaken by the Company to eliminate approximately $752,160 of liabilities. An aggregate of 1,299,998 Settlement Shares have been issued in satisfaction of the Debt.
The Settlement Shares will be issued in reliance upon certain prospectus exemptions available under Canadian securities legislation. No new insiders or control persons were created as a result of the Debt Settlement.
About Mydecine Innovations Group Inc.
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. Founded in 2020, Mydecine is based out of Colorado, USA, with extended offices in Alberta, Canada, and Leiden, Netherlands.