/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES NEWS WIRE SERVICES/
DENVER, May 19, 2022 /CNW/ – Medicine Innovations Group Inc. (“Mydecine“or the”Company“) (NEO: MYCO) (OTC: M YCOF) (FSE: 0NFA) is pleased to announce today that, in accordance with its day-to-day market offering (the “Offer“), the Company will issue up to 3,478,260 shares of the Company (the “Units“) at the price of $1.15 per unit (the “Issue price“) for a total gross product of up to $4 million.
Each Unit will consist of one ordinary share of the Company (a “Unit share“) and one common share purchase warrant (a “Unit Mandate“) and will be offered at a unit price to be determined in the context of the market (the “Issue price“). Each Unit Warrant may be exercised to acquire one common share of the Company at a price of $1.40 per share. The Offering will be made on a best efforts agency basis pursuant to the terms and conditions of an agency agreement to be entered into between the Company, Stifel Nicolaus Canada Inc. (“Stifel GMP“), Roth Canada, Inc. (“Roth” and with Stifel GMP the “Principal co-agents“), and other members of the syndicate of agencies formed in connection with the Offer.
The Company will grant the Co-Lead Partners an option (the “Over-allotment option“) to sell up to an additional 15% of the shares sold under the offering, at the issue price. The Over-Allotment Option may be exercised in whole or in part, as determined by the Co-Heads of file upon written notice to the Company at any time up to 30 days after the closing date of the Offer.
The Offering will be made in accordance with the Company’s amended and restated Canadian base shelf prospectus dated January 28, 2022 (there “Base Shelf Prospectus“). A prospectus supplement (the “Prospectus Supplement“) relating to the Offering will be filed in each of the provinces of Canadawith the exception of the province of Quebec. Copies of the prospectus supplement and the accompanying base shelf prospectus will be available under the Company’s profile on SEDAR at www.sedar.com.
The Company intends to use the net proceeds of the offering for working capital and general corporate purposes.
The offering is expected to close on or about May 25, 2022subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the NEO Exchange.
This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in United States the absence of registration or an applicable exemption from the registration requirements thereunder.
Neither the NEO Bourse nor its Market Regulator (as that term is defined in the policies of the NEO Bourse) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has approved or disapproved of the contents of this press release.
About Mydecine Innovations Group Inc.
Mydecine Innovations Group ™ (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is a biotechnology company that develops new, innovative first- and second-generation therapies for the treatment of mental health and addiction using a world-class technology and drug development infrastructure. Mydecine was founded in 2020 to address a significant unmet need and lack of innovation in mental health and therapeutic treatment environments. Our global team is dedicated to the effective development of new therapies to treat PTSD, depression, anxiety, addiction and other mental health disorders. Mydecine’s business model combines clinical trials and data outcomes, technology, and scientific and regulatory expertise with a focus on psychedelic therapy, as well as other novel non-psychedelic molecules with therapeutic potential. By collaborating with some of the world’s leading authorities, Mydecine aims to responsibly accelerate the development of new medicines to provide patients with mental disorders with safe and more effective treatment options. Mydecine Innovations Group is headquartered in Denver, ColoradoUnited States, with international offices in Leiden, Netherlands. Learn more about: https://www.medicine.com/ and follow us on Facebook, Twitter and Instagram.
On behalf of the Board of Directors
Joshua BartchChief executive officer
Caution Regarding Forward-Looking Information
This press release contains certain “forward-looking statements” as that term is defined under Canadian securities laws. Without limitation, statements regarding the Company’s future plans and objectives are forward-looking statements that involve varying degrees of risk. Forward-looking statements reflect management’s current beliefs regarding possible future events and conditions and, by their nature, are based on management’s beliefs and assumptions and subject to known and unknown, general and business-specific risks and uncertainties. Company. Forward-looking information contained in this press release includes, among other things, statements regarding: the filing of the prospectus supplement qualifying the distribution of the Units; the use of the net proceeds of the Offering; the closing, timing and size of the offering, including the satisfaction and timing of receipt of all required regulatory approvals, including the approval of the NEO Exchange; the satisfaction or waiver of other conditions at the closing of the Offer; and the financial condition of the Company if the Offer is or is not completed. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, these statements are not guarantees of future performance and actual results or developments may differ materially from those contained in our forward-looking statements. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by these forward-looking statements: changes in the world price of agricultural commodities, general market conditions, risks inherent in farming, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the important factors and assumptions that were applied in making these forward-looking statements as well as the various risks and uncertainties we face are described in more detail in the “Risk Factors” section of our annual and interim MD&A. of our financial results and the “Risk Factors” section of the Base Shelf Prospectus and other continuous disclosure documents and financial statements filed by the Company with Canadian securities regulators which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information, except as required by applicable law. All forward-looking information contained in this press release is expressly qualified by the foregoing caveats. The Company relies on litigation protection for forward-looking statements.
SOURCEMedicine Innovations Group Inc.
For further information: Investor & Media Contact, Morgan Kervitsky, Director of Marketing, (720) 689-4638, [email protected]