Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

InvestorNewsBreaks – Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) (FRA: 6MH) Issues Update on Strategic Review

Mind Cure Health (CSE: MCUR) (OTCQX: MCURF) (FRA: 6MH) (“MINDCURE”) today announced that a special committee of the company’s board of directors has concluded the initial phases of its strategic review process. According to the announcement, the special committee completed an extensive canvas of various strategic alternatives available to the company and determined that the additional capital required to execute the company’s business plan is unlikely to be found under the current and foreseeable market conditions and that none of the strategic alternatives available to the company necessitated ongoing developmental expenditures. As a result, the board has decided to immediately eliminate all expenditures outside of those required to preserve the value of the company’s assets, including its public company status with Canadian securities regulators and cash and cash equivalents of approximately $10.57 million on an unaudited basis as at close of business yesterday and without adjusting for any current liabilities as at such date or arising from the elimination of expenditures described in the news release. “Though we continue the strategic review process, we have identified no available strategic alternatives that would require further development and execution of MINDCURE’s existing business plan,” said the chair of MINDCURE’s special committee, Jason Pamer. “As a result, we have determined that the company should immediately move to reduce all non-necessary expenditures except as required to preserve the value of the company’s cash balance and other assets.”

To view the full press release, visit https://ibn.fm/C7zLa

About Mind Cure Health Inc.

MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based, psychedelic-assisted therapies globally. For more information about the company, visit www.MindCure.com.

NOTE TO INVESTORS: The latest news and updates relating to MCURF are available in the company’s newsroom at http://ibn.fm/MCURF

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.