PanGenomic Health Inc Signs a Non-binding Letter of Intent for the Acquisition of Mindleap Health Inc.

PanGenomic Health Inc,. (CSE: NARA), is pleased to announce that the Company has signed an arm’s length non-binding Letter of Intent with Mydecine Innovations Group Inc. (NEO: MYCO | OTC: MYCOF | FSE: 0NFA), to acquire all of the issued and outstanding shares of Mydecine’s wholly-owned subsidiary, Mindleap Health Inc.

With over 40,000 organic downloads, the Mindleap App enables PanGenomic to provide for its users a digital Telehealth Platform focused on the emerging psychedelics industry. The Mindleap App provides:

The LOI contemplates that the Company will acquire all of Mindleap’s outstanding shares for a purchase price of C$4,000,000, payable by the issuance of units at an agreed-upon price of C$0.20 per Unit, or such higher price as the Canadian Securities Exchange may require. Each Unit comprises one Class A Common Share of PanGenomic and one share purchase warrant to purchase one additional Share for C$0.30 per Unit Warrant Share, or such larger amount as the CSE may require, for 24 months from the closure of the purchase and sale of Mindleap Shares. In addition to the acquisition of Mindleap Shares at the Purchase Price, the Company and Mindleap will enter into a transition services agreement whereby the Company will engage Mindleap to assist in the transition, transfer, and integration of Mindleap technologies into PanGenomic’s technology platform for two months following the Closing. In return, the Company shall pay a monthly consulting fee of $50,000 (C$100,000 total), payable at the Closing and on the one-month anniversary of the closing date.

“Given the recent narrowing of Mydecine’s business scope, we needed to find a group that we believe is capable of continuing the vision of Mindleap and taking it to the next level,” said Mr. Bartch. “We believe the PanGenomic Group is that group. Mindleap has over 40,000 organic downloads, and we believe this app has the potential to reach millions of users.”

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.

PanGenomic Health Inc. is a precision health company that has developed a self-care digital platform to deliver personalized, evidence-based information about natural treatments.  Our initial focus is to support mental health.  Registered as a British Columbia benefit company, PanGenomic Health’s mission is to promote and improve the health and wellness of people and society by providing a technology platform that identifies plant-based solutions tailored to the health profile of each individual.