02:13:41 EST Thu 26 Nov 2020
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or Name

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Mydecine Innovations Group Inc
Symbol MYCO
Shares Issued 162,762,912
Close 2020-10-14 C$ 0.345
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Mydecine's NeuroPharm hires FreeMind to find financing

2020-10-14 08:38 ET - News Release

Mr. Joshua Bartch reports


NeuroPharm Inc., a wholly owned subsidiary of Mydecine Innovations Group Inc., has engaged FreeMind Group LLC to assist NeuroPharm in securing non-dilutive financing opportunities globally.

NeuroPharm is developing a unique and proprietary set of pharmaceutical and natural health products addressing mental wellness in vulnerable populations including veterans, emergency medical services personnel and other high-risk constituencies. In collaboration with its strategic partners, NeuroPharm is deploying evidence-based medicine in the establishment of psilocybin-based therapies addressing the unmet needs of high-risk constituents. NeuroPharm is focused on developing unique and proprietary technologies to treat various mental health conditions frequently experienced by veterans such as PTSD, depression, addiction, anxiety and panic disorders as well as migraine and cluster headaches.

A wide range of government and private non-dilutive financing sources are available for the disorders being addressed by NeuroPharm. FreeMind Group has the expertise to identify these financing sources and to assist NeuroPharm throughout the financing process, from the preparation and submission of financing applications to preaward negotiations.

"As we advance our internal programs, it is important to continue to drive new scientific discoveries and collaborations across the NeuroPharm platform. To this end, FreeMind is an important strategic addition to our team. Dr. Rakesh Jetly, chief medical officer; Rob Roscow, chief science officer of Mydecine Innovations Group; will manage this collaboration," said Josh Bartch, chief executive officer.

"FreeMind can play an important role for us," said Mr. Bartch. "Much of the work we will conduct fits well within the mandate of many organizations that provide non-dilutive funding. FreeMind has a strong track record and is highly regarded by academia, industry and the funding organizations. This should provide Mydecine Innovations Group with greater opportunities for success in the grant funding process."

The company further announces that its board of directors has approved the settlement of a principal amount of $847,500 in debt for services rendered through the issuance of common shares. Pursuant to the debt settlement, the company issued 3,684,783 common shares of the company at a deemed price of 23 cents per share to a creditor of the company. All securities issued will be subject to a statutory hold period which will expire on the date that is four months and one day from the date of issuance.

About Mydecine Innovations Group Inc.

Mydecine Innovations Group is a publicly traded life sciences syndicate, with offices in Denver, Colo., and Vancouver, B.C., Canada. Mydecine's biotech platform is dedicated to the development and production of adaptive pathway medicine and natural health products all stemming from mushrooms. Mydecine's experienced multitalented team has the dynamic capabilities to oversee all areas of Schedule I drug development, including but not limited to synthesis, genetic research, delivery mechanism design, clinical trial execution; through to worldwide product commercialization, marketing and spore-to-sale distribution of cGMP psilocybin API's and non-psychedelic medicinal fungi. By leveraging strategic partnerships with global scientific, medical, clinical and veteran organizations; Mydecine is well positioned at the forefront of naturally derived medicine, alternative therapeutics and fungtional -- mushroom vitality consumer goods. The company's portfolio of unified companies, including Mydecine Health Sciences, Mindleap Health and NeuroPharm focus together on providing innovative and effective solutions that can help millions of people live a healthier quality life.

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