MINDCURE Announces Financial Results for the First Quarter of Fiscal 2023
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.
- Strong cash position and balance sheet
- Ongoing exploration of strategic alternatives for shareholder value enhancement
- Resignation of a board director, indicating possible governance challenges
- Risks associated with the strategic review process and external economic factors
VANCOUVER, BC, Oct. 26, 2022 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company") today announced its financial results for the three months ended August 31, 2022. All amounts are stated in Canadian dollars unless otherwise indicated.
The special committee of the Company's board of directors is continuing to explore, review and evaluate a broad range of strategic alternatives with its strategic review process. The Company's cash position and balance sheet remain strong and the Company looks forward to finding the best path forward for all shareholders.
A copy of the Company's financial statements for the three months ended August 31, 2022 and the related management's discussion and analysis are available under the Company's profile on SEDAR at www.sedar.com.
Larissa Chaikowsky has resigned as a director of the Company's board of directors effective November 1, 2022. While the special committee of the Company's board of directors continues to consider strategic alternatives, a replacement will not be appointed. "On behalf of the board of directors and the Company, I would like to thank Larissa for her contribution and support. Her commitment and insight were very much appreciated by the board and management. " stated Philip Tapley, CEO and Chair of the board of directors of MINDCURE.
On Behalf of the Board of Directors
Philip Tapley, CEO
Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the considerations and outcome of the strategic review process and cost-saving measures; COVID-19 pandemic impact on the Canadian economy and the Company's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect the Company's business; no unanticipated expenses, costs or detrimental consequences of the Strategic Review Process or cost-savings measures will arise; availability of additional capital required to execute the Company's business plan; the lack of necessity of further developmental expenditures related to the Company's business plan with respect to the execution of strategic alternatives for the Company; the ability to preserve the value of the Company's assets, including its public company status with Canadian securities regulators; and the ultimate availability of any strategic alternatives for the Company.
Forward-looking information is provided for the purpose of presenting information the Company's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results and involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
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SOURCE Mind Cure Health Inc.
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