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Mind Cure Health Inc. (CNSX: MCUR, OTCQB: MCURF) has reported its financial results for the three and nine months ending February 28, 2023. The financial statements are accessible on SEDAR. The Company is pursuing a reverse take-over, intending to acquire LNG Energy Group Inc., focused on natural gas production in Latin America. This transaction is contingent upon a definitive agreement and shareholder approval. Forward-looking information in the release highlights management's assumptions regarding expenses, asset value preservation, and strategic alternatives, emphasizing that actual results may vary significantly from projections.
Mind Cure Health Inc. (CSE: MCUR, OTCQB: MCURF) reported its financial results for the three and six months ending November 30, 2022. Key highlights include a proposed reverse take-over transaction with LNG Energy Group Inc., aiming for a consolidation of shares at a 2.4-1 ratio and a name change to LNG Energy Group Inc. LNG Energy plans to raise between US$15M and US$35M through private placement. Additionally, a non-convertible debt financing is planned for US$65M to US$85M. Robert Hill resigned from the board, replaced by Stephen Inouye. The transaction is subject to shareholder approval and CSE regulations.
Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) announced its financial results for the three months ended August 31, 2022. The Company maintains a robust cash position and a strong balance sheet while exploring strategic alternatives aimed at enhancing shareholder value. Notably, director Larissa Chaikowsky will resign effective November 1, 2022, as the company evaluates its strategic options without appointing a replacement. The management has cautioned investors about forward-looking statements, highlighting potential risks that could affect future performance.
On September 13, 2022, Mind Cure Health (CSE: MCUR, OTCQX: MCURF) announced its financial results for the year ending May 31, 2022. The company reported a strong cash position while undergoing a strategic review to evaluate various options for its future. The board is exploring alternatives that align with shareholder interests. Financial statements can be accessed on SEDAR. The company highlighted potential risks affecting its future performance, emphasizing the unpredictability of external factors and the necessity of careful management in navigating challenges.
Mind Cure Health Inc. (CSE: MCUR, OTCQX: MCURF) reported its financial results for the three and nine months ending February 28, 2022. Key highlights include ongoing development in the psychedelics industry and work on synthesizing ibogaine, which aims to address mental health treatments. The company acknowledges potential risks, including COVID-19's impact and regulatory changes that could affect operations. Forward-looking statements caution against over-reliance on anticipated outcomes, emphasizing uncertainty in achieving projected timelines and market demand.
Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) has initiated workforce reductions as part of its Strategic Review Process. The Special Committee concluded that current market conditions make it unlikely to secure additional capital. Consequently, the company is halting all non-essential expenditures to preserve its cash position of approximately $10.57 million. The workforce reduction affects all executives and employees except for key personnel necessary for limited operations. Philip Tapley steps in as interim CEO, following the departure of Kelsey Ramsden.
Mind Cure Health has filed a provisional patent for non-racemic ibogaine mixtures aimed at treating central nervous system disorders more effectively. The company plans to advance its proprietary synthesis processes, targeting Good Manufacturing Practice (GMP) certification by the year's end. President Kelsey Ramsden emphasized the importance of this development as a step towards commercial success. Additionally, 315,000 stock options were granted to employees at exercise prices of $0.195 and $0.15 per share, reinforcing the company’s commitment to talent retention.
Mind Cure Health Inc. (MCURF) has formed a Special Committee of independent directors to explore strategic alternatives for the company. This review will assess the company's direction, operations, and capital structure, considering options such as remaining public, strategic investments, or potential mergers. The company maintains a strong financial position with $13.4M in cash and a minimum 12-month runway as of November 30, 2021. The process is intended to preserve value while continuing to develop its iSTRYM product.
Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) reported financial and operational results for Q2 FY2022, ended November 30, 2021. The company recorded a net loss of $2.95 million with cash and cash equivalents of $13.4 million. Key highlights include an exclusive data licensing agreement with ATMA Journey Centers, partnerships with 20 ketamine clinics, and the launch of the "Desire Project" for treating female hypoactive sexual desire disorder. The digital therapeutics technology, iSTRYM, received HIPAA certification, paving the way for commercial deployment in Q2 2022.
Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) announced that President & CEO Kelsey Ramsden will present virtually at the H.C. Wainwright Bioconnect Conference from January 10-13, 2022. The presentation will be available on-demand starting January 10 at 7:00 a.m. ET. Additionally, the company granted 350,000 stock options to employees and consultants with exercise prices of $0.195 and $0.215 per share. MINDCURE is focused on advancing digital therapeutics and researching psychedelic compounds for mental health improvement.
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