Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) has announced an increase in its bought deal financing, raising C$15 million by offering 30 million units at C$0.50 each, with a closing date set for February 3, 2021. Each unit consists of one common share and a warrant, exercisable at $0.70 for 36 months. An over-allotment option allows for an additional 4.5 million units, potentially increasing proceeds to C$17.25 million. Funds will be used for clinical trials, expanding intellectual property, and ongoing operations.
Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) has announced a bought deal agreement with Canaccord Genuity to purchase 20,000,000 units at C$0.50 each, totaling gross proceeds of C$10 million. Each unit consists of one common share and one purchase warrant. There is an Over-Allotment Option for an additional 3 million units, potentially increasing total proceeds to C$11.5 million. The proceeds will fund clinical trials, intellectual property expansion, and general working capital. Closing is anticipated on February 3, 2021, pending regulatory approvals.