Mydecine Innovations Group Inc. Announces Closing of Share for Debt Settlement

(TheNewswire)

  

V ANCOUVER, BC ( TheNewswire 27 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                Tel: +44 (0)207 399 9400  

  David Coffman/ George Duxberry  

  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.  

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