MYDECINE PROVIDES Bl-WEEKLY STATUS
REPORT
Vancouver, British Columbia, June 3,
2024- Mydecine Innovations Group Inc. (the
"Company")
(CSE: MYCO) (FSE: 0NF0) (OTC: MYCOF) (AQSE: MYIG) provides this
update on the status of a management cease trade order granted on
May 2, 2024 (the "MCTO")
by the British Columbia Securities Commission under National Policy
12-203 - Management Cease Trade Order ("NP
12-203").
On
May 3, 2024, the Company announced
that, for reasons disclosed in the news release, there would be a
delay in the filing of its financial statements and accompanying
management's discussion and analysis for the fiscal year ended
December 31, 2023 (the
"Annual
Filings") beyond
the period prescribed under applicable Canadian securities laws
(the "Default
Announcement").
The
Company reports that the audit is progressing and will provide a
further update on the timing of its Annual Filings on or about
June 13, 2024. The Company is also
progressing on completion of its interim financial statement and
accompanying management's discussion and analysis for the first
quarter ended March 31, 2024, and
will provide a further update on or about June 13, 2024. Further updates on timing will be
provided by the Company as necessary.
During the
MCTO, the general investing public will continue to be able to
trade in the Company's listed common shares. However, the Company's
Chief Executive Office and Chief Financial Officer will not be able
to trade in the Company's common shares.
Other than
as disclosed in this news release, there are no material changes to
the information contained in the Default Announcement. The Company
confirms that it intends to satisfy the provisions of NP 12- 203
and will continue to issue bi-weekly default status reports for so
long as it remains in default of the Annual Filings
requirement.
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.
On behalf
of the Board of Directors,
MYDECINE
INNOVATIONS GROUP INC.
Joshua Bartch
Chief
Executive Officer
contact@mydecineinc.com
AQSE
Corporate Advisor
Novum
Securities Limited Tel:
+44 (0)207 399 9400
David Coffman/ George
Duxberry
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
posttraumatic 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 worldclass scientific and regulatory
expertise.
Learn more at: https://www.mydecine.com/ and follow the company on
Twitter, LinkedIn, YouTube, and Instagram.
Forward-looking Information Statement
This news release may contain certain "forward-looking
statements" and "forward-looking information" within the meaning of
applicable Canadian and United
States securities laws. When used in this news release, the
words "anticipate", "believe", "estimate", "expect", "target,
"plan", "forecast", "may", "schedule" and other similar words or
expressions identify forward-looking statements or information.
These forward-looking statements or information may relate to the
anticipated timing for the filing of the Annual Filings, and other
factors or information. Such statements represent the Company's
current views with respect to future events and are necessarily
based upon a number of assumptions and estimates that, while
considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political and social
risks, contingencies and uncertainties. Many factors, both known
and unknown, could cause results, performance or achievements to be
materially different from the results, performance or achievements
that are or may be expressed or implied by such forward-looking
statements. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in
circumstances or any other events affections such statements and
information other than as required by applicable laws, rules and
regulations
NEITHER THE CSE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED
OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
