MYND Life Sciences Announces the Issuance of 4,000,001 Shares at $0.71/share

Rhea-AI Summary

MYND Life Sciences (MYNDF) has announced the Board's approval to issue 4,000,001 common shares at $0.71 per share, settling a previously announced $3.5 Million (CDN) debenture from January 10, 2025. The total value of the share issuance amounts to $2,840,000.71.

The company, focused on developing drug therapies and diagnostics for depression treatment and monitoring, considers this a significant milestone. According to CFO Lih Tam, this development enables MYND to engage with the investment community while advancing their mission to address major depressive disorder. The debenture settlement details will be reflected in upcoming financial statements.

Positive

• Settlement of $3.5M debenture liability through share issuance, improving balance sheet structure
• Removal of debt obligation potentially strengthens financial position

Negative

• Dilution of existing shareholders through issuance of 4,000,001 new shares

News Market Reaction – MYNDF

+478.40%

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+478.40% News Effect

On the day this news was published, MYNDF gained 478.40%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of drug therapies and diagnostics to improve the monitoring and treatment of depression, today announced that the Board has approved the issuance of 4,000,001 common shares at $0.71/share in relation to the settlement of the $3.5 Million (CDN) of debenture announced on January 10, 2025.

"We are pleased to announce that instructions to issue 4,000,001 shares for a total value of $2,840,000.71 in settlement of the debenture has been completed. This marks a significant inflection point for MYND and opens the door to work with the investment community to bring much needed hope to those millions of people experiencing the debilitating effects of major depressive disorder," said Lih Tam, Chief Financial Officer of MYND Life Sciences Inc.

The removal and details of the debenture will be reflected in MYND's upcoming financial statements.

About MYND Life Sciences (MYND)

MYND Life Sciences Inc. is a clinical-stage life sciences company focused on developing and commercializing drug therapies, along with a proprietary biomarker test, to diagnose and monitor the effectiveness of treatments for Major Depressive Disorder (MDD) and Treatment-resistant Depression (TRD). MYND's proprietary biomarker for depression has the potential to support personalized patient management strategies, leveraging the company's unique intellectual property and offering the possibility of near-term revenue opportunities. MYND is developing this test with the goal of being the first test to market of its kind, targeting depression, where there is a tremendous unmet need. For more information, you can visit www.myndsciences.com.

For more information please contact:

Lih Ming Tam, CFO
Email: ir@myndsciences.com
﷟Phone: 604-813-9795
Web: www.myndsciences.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237716

FAQ

How many shares did MYND Life Sciences (MYNDF) issue in January 2025?

MYND Life Sciences issued 4,000,001 common shares at $0.71 per share on January 17, 2025.

What is the total value of MYNDF's January 2025 share issuance?

The total value of the share issuance is $2,840,000.71.

What was the purpose of MYNDF's January 2025 share issuance?

The share issuance was to settle a $3.5 Million (CDN) debenture that was announced on January 10, 2025.

What is the price per share for MYNDF's January 2025 share issuance?

The shares were issued at $0.71 per share.