InvestorNewsBreaks – Mydecine Innovations Group Inc. (CSE: MYCO) (AQSE: MYIG) (OTC: MYCOF) Files Prospectus Supplement, Closes Share Subscription Agreements

October 31, 2023 at 12:53 PM EDT

Mydecine Innovations (CSE: MYCO) (AQSE: MYIG) (OTC: MYCOF), a biotechnology company engineering the next wave of innovative medications and treatment protocols to directly address mental health with a particular emphasis on addiction and PTSD, has filed a shelf prospectus supplement to its Final Short Form Base Shelf Prospectus for the province of Québec and its Amended and Restated Final Short Form Base Shelf Prospectus for each of the provinces of Canada. The supplement is in connection with Mydecine Innovation’s previously announced common share subscription agreements between the company and OpenSky Opportunities Fund Ltd. and an arms-length investor. According to the announcement, the prospectus supplement notes that Mydecine Innovations is qualifying the distribution of up to 7,360,000 common shares in the capital of the company to investors under the subscription agreements at a price of $0.15 per share, resulting in gross proceeds of more than $1 million. The announcement also noted that the company closed share issuances under the subscription agreements.

To view the full press release, visit https://ibn.fm/37ulq

About Mydecine Innovations Group Inc.

Mydecine Innovations is a publicly traded, prerevenue biopharmaceutical company that began operations in North America and Europe in early 2020. Mydecine was founded to increase physicians’ access to serotonin-modulating medicine. Recent research has demonstrated the therapeutic potential of psychedelic substances such as psilocybin and MDMA for treating intractable conditions such as pain, anxiety, depression, addiction and PTSD, along with neurodegenerative disorders. Mydecine believes these compounds can be safer, more effective and more accessible for patients and medical professionals through modern drug chemistry paired with artificial intelligence (“AI”). Through its exclusive partnership with Applied Pharmaceutical Innovation based at the University of Alberta, Mydecine is developing innovative medications for target indications with high mortality rates that have lacked innovation for decades and are controlled by dominant corporations. Mydecine developed several prodrug families, beginning with a psilocybin-derived, smoking-cessation drug undergoing a NIDA-funded trial at Johns Hopkins University. The company is also developing MYCO-006, or short-acting chemical analogs derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge AI and pharma research infrastructure at the University of Alberta to develop and manufacture new medications to make these medications affordable and accessible to the general public upon Health Canada and FDA approval. The Mydecine team is enthusiastic about its mission and is dedicated to creating a positive difference in the lives of others. For more information about the company, please visit www.Mydecine.com.

NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF

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