Mydecine Innovations (CSE: MYCO) (AQSE: MYIG) (OTC: MYCOF) (FSE: 0NF0), a leading biotechnology company dedicated to transforming mental-health and addiction treatment, has entered into a debt settlement agreement. The agreement is designed to partially settle outstanding debts owed for legal services rendered. According to the agreement, Mydecine Innovations will issue 2,941,176 common shares at $0.017 per share. The company noted that it anticipates closing the share settlement on or about March 27, 2024. The agreement will settle $50 million in debts owed to the creditor, which is partial settlement for the total amount of bona fide debts owed to the Creditor. “The board of directors of the company has determined that it is in the best interests of the company to settle the outstanding debts by the issuance of the shares in order to preserve the company’s cash for working capital,” stated the press release.
To view the full press release, visit https://ibn.fm/egMoS
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.
NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF
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