Mydecine Innovations Group Completes $2 million Public OfferingMay 02, 2022
Mydecine Innovations Group Inc. (NEO: MYCO) has completed a public offering of common shares for gross proceeds of over $2 million. The offering was completed in connection with a subscription agreement with a third-party investor pursuant to which MYCO can issue and sell up to $10 million of common shares to the investor by issuing a series of draw notices from time to time, subject to the conditions set out in the agreement. The offering was completed over two tranches completed on March 31, 2022 and May 2, 2022 and was conducted by way of supplements to a base shelf prospectus previously filed by MYCO.
MYCO is a biotechnology company developing innovative first- and-second-generation novel therapeutics for the treatment of mental health and addiction using world-class technology and drug development infrastructure. The company is dedicated to efficiently developing new therapeutics to treat PTSD, depression, anxiety, addiction and other mental health disorders. The Mydecine business model combines clinical trials and data outcome, technology, and scientific and regulatory expertise with a focus on psychedelic therapy, as well as other novel, non-psychedelic molecules with therapeutic potential.
Wildeboer Dellelce LLP acted for the investor in connection with the subscription agreement and the offering with a team comprised of Michael Rennie and Brendan Wu (corporate/securities).