MYDECINE
INNOVATIONS GROUP INC.
ANNOUNCES CLOSING
OF SHARE FOR DEBT SETTLEMENT
VANCOUVER, BC – (28
March 2024) Mydecine
Innovations Group Inc. (CSE: MYCO)
(AQSE: MYIG)
(FSE: 0NFA) (OTC: MYCOF) (the “Company”
or “Mydecine”)
announces that it has closed a debt settlement (the
“Debt
Settlement”) to partially settle
outstanding debts owed to a creditor (the “Creditor”)
for legal services rendered.
Pursuant to the Debt
Settlement, the Company issued 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 Share Settlement
settles $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 Company relied 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.
An application will be
made to the Aquis Stock Exchange ("Aquis")
for the 2,941,176 new Shares to be admitted to trading. Admission
is expected to take place, and dealings on Aquis in the Shares are
expected to commence, at 08:00 on or around 4 April 2024.
Following Admission, the
Company will have 58,127,177 Ordinary Shares in issue. Since the
Company currently holds no shares in treasury, the total number of
voting rights in the Company will therefore be 58,127,177 These
figures may therefore be used by Shareholders as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest
in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.
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.
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
David Coffman/ George
Duxberry
Tel: +44 (0)207 399
9400
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/.
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.
Learn more at: https://www.mydecine.com/
and
follow
the
company
on
Twitter,
LinkedIn,
YouTube,
and
Instagram.
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 Debt
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.
