17:14:01 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Mydecine Innovations Group Inc (2)
Symbol MYCO
Shares Issued 9,398,498
Close 2022-09-14 C$ 0.58
Market Cap C$ 5,451,129
Recent Sedar Documents

Mydecine closes $500,000 first tranche of offering

2022-09-14 20:00 ET - News Release

Mr. Joshua Bartch reports

MYDECINE INNOVATIONS GROUP FILES PROSPECTUS SUPPLEMENT AND ANNOUNCES CLOSING UNDER SHARE SUBSCRIPTION AGREEMENT

Mydecine Innovations Group Inc., in connection with its previously announced common share subscription agreement with a third party investor dated Aug. 26, 2022, has filed a shelf prospectus supplement to the company's final short form base shelf prospectus for the province of Quebec, and amended and restated final short form base shelf prospectus for each of the provinces of Canada, dated Jan. 28, 2022.

The prospectus supplement is the first supplement filed in connection with the subscription agreement and provides, among other things, that the company is qualifying the distribution of up to 1,754,386 common shares in the capital of the company to the investor at a price of 57 cents per share for aggregate gross proceeds of up to $1-million.

The company also announced today the closing of the first tranche of the first issuance under the subscription agreement. The offering resulted in the issuance of 877,193 shares at a price of 57 cents per share for aggregate gross proceeds of $500,000. 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.

The prospectus supplement and shelf prospectus are available on the company's profile on the System for Electronic Document Analysis and Retrieval (SEDAR).

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.

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