Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) has achieved a significant milestone by successfully completing the world’s first international legal export of dried psilocybin mushrooms. The company harvested 20 kilograms of mushrooms in December 2020, now forming a solidified commercial supply chain for psilocybin. This accomplishment allows Mydecine to support its research and supply other licensed facilities globally. The CEO stated that their natural-sourced psilocybin will be a cost-effective alternative to synthetic versions, which could enhance the company's R&D and market position.
Mydecine Innovations Group (CSE: MYCO, OTC: MYCOF) has successfully closed a bought-deal public offering, issuing 34.5 million units at C$0.50 each, raising C$17.25 million. This offering, led by Canaccord Genuity, includes an over-allotment option exercised in full. The company plans to utilize the proceeds for clinical trials, expanding its intellectual property portfolio, drug pipeline development, and general working capital. Each unit comprises one common share and a warrant, which will allow for further investment opportunities.
Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) has filed its final short form prospectus in relation to its previously announced bought deal offering. The company plans to raise C$15 million by offering 30,000,000 units at C$0.50 each, with warrants exercisable at $0.70 over 36 months. An over-allotment option for an additional 4,500,000 units is also available. Proceeds will fund clinical trials, expand intellectual property, and support the development of its drug pipeline. The offering is expected to close by February 12, 2021, pending necessary approvals.
Mydecine Innovations Group (CSE:MYCO | OTC:MYCOF) has filed amended financial statements for the nine months ended September 30, 2020, reflecting significant adjustments. The revised reports show a decrease in total assets by $493,214, an increase in total liabilities by $1,830,594, and a drop in shareholders' equity by $2,323,808. Additionally, the net loss increased by $2,282,519 during this period. Key changes involve adjustments related to acquisitions and the write-off of inventory from subsidiaries, which amount to $458,921. All figures are in Canadian dollars.
Mydecine Innovations Group announces the appointment of Josephine Wu to its Board of Directors, aiming to enhance growth and strategic direction. Wu, with over 18 years in hedge fund and healthcare investment, replaces Michael Connolly, who resigned. This leadership change contributes positively to governance as the Caveat Emptor designation on OTC markets is lifted, facilitating Mydecine's compliance with U.S. trading regulations. The company focuses on developing innovative solutions in mental health, leveraging Wu's extensive experience to further its business model and partnerships.
Mydecine Innovations Group (CSE: MYCO) has received Conditional Approval to migrate and uplist its common shares to the NEO Exchange, enhancing its accessibility to retail and institutional investors. The final approval hinges on meeting NEO's listing requirements. This uplisting aims to increase liquidity and visibility for Mydecine, as noted by CEO Josh Bartch. The current trading symbol 'MYCO' will remain unchanged, not affecting existing shareholders' trading capabilities.
Mydecine Innovations Group (CSE: MYCO, OTC: MYCOF) has announced a bought deal offering, filing a preliminary prospectus to raise C$15 million through the sale of 30 million units at C$0.50 each. Each unit consists of one common share and a warrant, exercisable for three years at $0.70. The offering includes an over-allotment option for an additional 4.5 million units. Funds will support clinical trials, expand the drug pipeline, and for general working capital. The offering is expected to close around February 3, 2021, pending necessary approvals.
Mydecine Innovations Group (CSE: MYCO) has appointed SHIM & Associates LLP as its new auditor, replacing MNP LLP. The change was necessitated as MNP lacked the capacity to review the Company’s interim financial statements for its bought deal offering due to a busy period. A Notice of Change of Auditor has been filed on SEDAR. The Canadian Securities Exchange has neither approved nor disapproved the contents of the news release.
Mydecine Innovations Group has appointed Boustead Capital Markets to facilitate its dual listing on the London Stock Exchange (LSE). This strategic move aims to provide greater exposure to European investors, particularly in psychedelic-friendly regions. The company anticipates that trading on the LSE will enhance its visibility and strengthen its market position alongside its existing listings in Canada, the U.S., and Germany. CEO Joshua Bartch emphasized that this step aligns with their focus on shareholder value and growth.
Mydecine Innovations Group has appointed Boustead Capital Markets to facilitate its dual listing on the London Stock Exchange (LSE). This move aims to enhance investor access to Mydecine's shares in Europe, especially in countries supportive of psychedelics. The LSE listing is expected to strengthen Mydecine's position in the market and provide opportunities for expansion, including clinical trials and telehealth services via Mindleap Health. The company's CEO emphasizes the strategic importance of the LSE for increasing shareholder value and investor reach.