MINDCURE Announces Financial Results for the Third Quarter of Fiscal 2023

Rhea-AI Summary

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.

Positive

• Pursuing a reverse take-over could enhance future growth opportunities.
• Acquiring LNG Energy may diversify the company's investment portfolio.

Negative

• Dependence on shareholder and regulatory approval introduces execution risk.
• Forward-looking statements caution about potential risks and uncertainties that may affect future performance.

VANCOUVER, BC, April 20, 2023 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company") today announced its financial results for the three and nine months ended February 28, 2023.  All amounts are stated in Canadian dollars unless otherwise indicated.  

A copy of the Company's financial statements for the three and nine months ended February 28, 2023 and the related management's discussion and analysis are available under the Company's profile on SEDAR at www.sedar.com.

As previously announced on November 18, 2022, the Company signed a binding Letter of Intent with LNG Energy Group Inc. ("LNG Energy"), a private company focused on the acquisition of natural gas production and exploration assets in Latin America, pursuant to which the Company will become the holder of all of the issued and outstanding securities in the capital of LNG Energy (the "Transaction").  It is intended that the Transaction will constitute a reverse take-over of the Company by the shareholders of LNG Energy.   

The proposed Transaction is subject to the terms of a definitive agreement, approval by the Company's shareholders and the Canadian Securities Exchange.

On Behalf of the Board of Directors
Philip Tapley, CEO

Forward-Looking Information

Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: no unanticipated expenses or costs will arise; 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.

FAQ

What were the financial results of Mind Cure Health Inc. for the third quarter of fiscal 2023?

Mind Cure Health Inc. reported its financial results for the three and nine months ended February 28, 2023, with details available on SEDAR.

What is the significance of the reverse take-over involving LNG Energy Group Inc. for MCURF?

The reverse take-over of LNG Energy Group may position MCURF for future growth in the natural gas sector, pending approval.

What are the risks associated with the forward-looking statements in Mind Cure's press release?

The forward-looking statements highlight uncertainties that could cause actual results to differ materially from expectations, emphasizing the inherent risks involved.