MYND Life Sciences Announces Proposed Share Issuance to Remove Debenture and $3.440 M in debt on business
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) announced a proposed issuance of 4 million shares at $0.71 per share to eliminate $3.5 million in debt, including an outstanding debenture. The debenture was originally issued to support the company's development of a diagnostic biomarker for major depressive disorder (MDD), Phase 2B Alzheimer's trial, and IL-33 biomarker for cancer monitoring. The company is now focusing solely on developing the MDD diagnostic biomarker. The new shares will be subject to a four-month hold period from issuance, pending regulatory approval.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) ha annunciato un'emissione proposta di 4 milioni di azioni a 0,71 $ per azione per eliminare 3,5 milioni di dollari di debito, inclusa una obbligazione in essere. L'obbligazione era stata originariamente emessa per supportare lo sviluppo da parte dell'azienda di un biomarcatore diagnostico per il disturbo depressivo maggiore (MDD), uno studio di Fase 2B sull'Alzheimer e il biomarcatore IL-33 per il monitoraggio del cancro. L'azienda si sta ora concentrando esclusivamente sullo sviluppo del biomarcatore diagnostico MDD. Le nuove azioni saranno soggette a un periodo di attesa di quattro mesi dall'emissione, in attesa dell'approvazione normativa.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) anunció una emisión propuesta de 4 millones de acciones a 0,71 $ por acción para eliminar 3,5 millones de dólares en deuda, incluida una obligación pendiente. La obligación se emitió originalmente para apoyar el desarrollo de un biomarcador diagnóstico para el trastorno depresivo mayor (MDD), un ensayo de Fase 2B de Alzheimer y el biomarcador IL-33 para el monitoreo del cáncer. La empresa ahora se centra exclusivamente en el desarrollo del biomarcador diagnóstico MDD. Las nuevas acciones estarán sujetas a un período de retención de cuatro meses desde la emisión, a la espera de la aprobación regulatoria.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF)는 350만 달러의 부채를 제거하기 위해 주당 0.71 달러에 400만 주의 주식을 발행할 계획을 발표했습니다. 이 부채는 원래 주요 우울 장애(MDD)에 대한 진단 바이오마커와 알츠하이머 2B 단계 시험, 그리고 암 모니터링을 위한 IL-33 바이오마커 개발을 지원하기 위해 발행되었습니다. 현재 회사는 MDD 진단 바이오마커 개발에만 집중하고 있습니다. 새 주식은 발행일로부터 4개월의 보유 기간이 적용되며, 규제 승인을 기다리고 있습니다.
MYND Life Sciences (CSE : MYND) (OTCQB : MYNDF) a annoncé une émission proposée de 4 millions d'actions à 0,71 $ par action pour éliminer 3,5 millions de dollars de dettes, y compris une obligation en cours. L'obligation avait été émise à l'origine pour soutenir le développement par l'entreprise d'un biomarqueur diagnostique pour le trouble dépressif majeur (MDD), un essai de phase 2B sur Alzheimer et le biomarqueur IL-33 pour le suivi du cancer. L'entreprise se concentre désormais exclusivement sur le développement du biomarqueur diagnostique MDD. Les nouvelles actions seront soumises à une période de blocage de quatre mois à compter de l'émission, en attente d'une approbation réglementaire.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) gab die geplante Emission von 4 Millionen Aktien zu je 0,71 $ bekannt, um 3,5 Millionen Dollar Schulden, einschließlich einer ausstehenden Anleihe, zu beseitigen. Die Anleihe wurde ursprünglich ausgegeben, um die Entwicklung eines diagnostischen Biomarkers für die Major Depression (MDD), eine Phase 2B-Studie zu Alzheimer und den IL-33 Biomarker zur Krebsüberwachung zu unterstützen. Das Unternehmen konzentriert sich nun ausschließlich auf die Entwicklung des MDD diagnostischen Biomarkers. Die neuen Aktien unterliegen einer viermonatigen Haltperiode ab der Emission, die auf die regulatorische Genehmigung wartet.
- Debt reduction of $3.5M through share issuance
- Strategic focus refinement to MDD biomarker development
- Balance sheet restructuring to improve financial flexibility
- Shareholder dilution through issuance of 4M new shares
- Discontinuation of Alzheimer's and cancer biomarker programs
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of a biomarker tool for monitoring depression, today announced that subject to regulatory approval, it is proposing to issue 4 Million shares @ 0.71 per share to move
"We are pleased to announce this important agreement to restructure our balance sheet to enhance both current and prospective shareholder value and to align with our strategic goals of optimizing our capital structure," MYND Life Sciences CEO, Colin Campbell commented. "Our updated corporate profile will not only benefit current and future shareholders but also help us push forward with the important task of developing the potentially first biomarker test to market for diagnosing and monitoring those battling major depressive disorder (MDD)" he added.
The removal of the debenture represents a total value of
About MYND Life Sciences (MYND)
MYND Life Sciences Inc. is a clinical-stage life sciences company focused on the development and commercialization of a proprietary biomarker test which is labeled as the MYND Anti-Inflammatory Peptide test or "MAP". This biomarker test is aimed at diagnosing and monitoring depression by tracking neuroinflammation which is thought to be a significant factor in Major Depressive Disorder (MDD) and treatment-resistant depression. MYND's proprietary biomarker for depression will drive personalized patient management strategies leveraging MYND's unique IP which provides potential for near-term revenues. MYND is developing this test with the goal of being the first test to market of its kind, targeting depression, where there is a tremendous unmet need. For more information, you can visit www.myndsciences.com.
For more information please contact:
Colin M. Campbell
Email: ir@myndsciences.com
Phone: 604-561-6246
Web: www.myndsciences.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229747
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