Vancouver, British Columbia, June 3, 2024- Mydecine Innovations Group Inc. (the “Company“) (CSE: MYCO) (FSE: 0NF0) (OTC: MYCOF) (AQSE: MYIG) provides this update on the status of a management cease trade order granted on May 2, 2024 (the “MCTO“) by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order (“NP 12-203“).
On May 3, 2024, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management’s discussion and analysis for the fiscal year ended December 31, 2023 (the “Annual Filings“) beyond the period prescribed under applicable Canadian securities laws (the “Default Announcement“).
The Company reports that the audit is progressing and will provide a further update on the timing of its Annual Filings on or about June 13, 2024. The Company is also progressing on completion of its interim financial statement and accompanying management’s discussion and analysis for the first quarter ended March 31, 2024, and will provide a further update on or about June 13, 2024. Further updates on timing will be provided by the Company as necessary.
During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, the Company’s Chief Executive Office and Chief Financial Officer will not be able to trade in the Company’s common shares.
Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
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.
On behalf of the Board of Directors,
MYDECINE INNOVATIONS GROUP INC.
Novum Securities Limited Tel: +44 (0)207 399 9400
David Coffman/ George Duxberry
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 posttraumatic 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 worldclass scientific and regulatory expertise.