MYND Life Sciences Announces Shares for Debt Transaction
MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF), a clinical-stage life sciences company focused on depression treatments, has announced a shares for debt transaction to settle outstanding debt of $2,273,062.30. The company will issue 22,730,623 common shares at a deemed price of $0.10 per share to creditors, including certain related parties.
The shares will be subject to a four-month plus one day hold period as per Canadian Securities Exchange policies. The transaction qualifies as a 'related party transaction' under MI 61-101 but is exempt from valuation and minority shareholder approval requirements as the shares are not listed on specified markets and the fair market value doesn't exceed 25% of the company's market capitalization.
MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF), un'azienda delle scienze della vita in fase clinica focalizzata sui trattamenti per la depressione, ha annunciato una transazione di emissione di azioni per estinguere un debito residuo di $2.273.062,30. L'azienda emetterà 22.730.623 azioni ordinarie a un prezzo presunto di $0,10 per azione a favore dei creditori, inclusi alcuni soggetti correlati.
Le azioni saranno soggette a un periodo di blocco di quattro mesi più un giorno, secondo le politiche della Canadian Securities Exchange. La transazione è qualificata come 'transazione tra parti correlate' ai sensi della MI 61-101, ma è esente dai requisiti di valutazione e approvazione degli azionisti di minoranza poiché le azioni non sono quotate su mercati specifici e il valore equo di mercato non supera il 25% della capitalizzazione di mercato dell'azienda.
MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF), una empresa de ciencias de la vida en etapa clínica centrada en tratamientos para la depresión, ha anunciado una transacción de emisión de acciones para liquidar una deuda pendiente de $2,273,062.30. La empresa emitirá 22,730,623 acciones comunes a un precio estimado de $0.10 por acción a los acreedores, incluidos ciertos partes relacionadas.
Las acciones estarán sujetas a un período de retención de cuatro meses más un día, de acuerdo con las políticas de la Canadian Securities Exchange. La transacción califica como 'transacción entre partes relacionadas' bajo la MI 61-101, pero está exenta de los requisitos de valoración y aprobación de accionistas minoritarios ya que las acciones no están listadas en mercados específicos y el valor de mercado justo no excede el 25% de la capitalización de mercado de la empresa.
MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF)는 우울증 치료에 집중하는 임상 단계 생명과학 회사로, $2,273,062.30의 미지급 부채를 해결하기 위해 주식 발행 거래를 발표했습니다. 회사는 채권자에게 22,730,623주의 보통주를 주당 $0.10의 가격으로 발행할 예정입니다. 여기에는 특정 관련 당사자들도 포함됩니다.
주식은 캐나다 증권 거래소 정책에 따라 4개월 및 1일의 보유 기간을 갖습니다. 이 거래는 MI 61-101에 따른 '관련당사자 거래'로 분류되지만, 주식이 특정 시장에 상장되지 않고 공정 시장 가치가 회사의 시장 자본금의 25%를 초과하지 않기 때문에 평가 및 소수 주주 승인 요건에서 면제됩니다.
MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF), une entreprise des sciences de la vie en phase clinique axée sur les traitements de la dépression, a annoncé une opération d'émission d'actions pour régler une dette en cours de $2,273,062.30. L'entreprise émettra 22,730,623 actions ordinaires à un prix présumé de $0.10 par action à des créanciers, y compris certaines parties liées.
Les actions seront soumises à une période de blocage de quatre mois et un jour, conformément aux politiques de la Bourse canadienne des valeurs mobilières. La transaction est qualifiée de 'transaction entre parties liées' en vertu de la MI 61-101, mais est exemptée des exigences d'évaluation et d'approbation des actionnaires minoritaires, car les actions ne sont pas cotées sur des marchés spécifiques et la juste valeur marchande ne dépasse pas 25 % de la capitalisation boursière de l'entreprise.
MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF), ein klinisches Lebenswissenschaftsunternehmen, das sich auf die Behandlung von Depressionen konzentriert, hat eine Aktien-für-Schulden-Transaktion angekündigt, um eine ausstehende Schuld von $2.273.062,30 zu begleichen. Das Unternehmen wird 22.730.623 Stammaktien zu einem geschätzten Preis von $0,10 pro Aktie an Gläubiger, einschließlich bestimmter nahestehender Personen, ausgeben.
Die Aktien unterliegen gemäß den Richtlinien der Canadian Securities Exchange einer Haltefrist von vier Monaten und einem Tag. Die Transaktion qualifiziert sich als 'Transaktion zwischen nahestehenden Parteien' gemäß MI 61-101, ist jedoch von den Anforderungen an die Bewertung und die Zustimmung der Minderheitsaktionäre befreit, da die Aktien nicht an bestimmten Märkten notiert sind und der faire Marktwert 25% der Marktkapitalisierung des Unternehmens nicht überschreitet.
- Reduction of $2.27M in outstanding debt obligations through equity conversion
- No immediate cash outlay required for debt settlement
- Significant share dilution with issuance of 22.7M new shares
- Related party transaction indicates internal funding challenges
- Low share price of $0.10 suggests challenging market conditions
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - MYND Life Sciences Inc. (CSE: MYND) (OTC Pink: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of drug therapies and diagnostics to improve the monitoring and treatment of depression, today announced that it has entered into shares for debt agreements (the "Agreements"), to satisfy an aggregate of
The Shares issued pursuant to the shares for debt agreements will be subject to a four month plus one day hold period pursuant to the policies of the Canadian Securities Exchange.
The shares for debt transaction involving the Related Parties will constitute a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"). However, the issuance is exempt from: (i) the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b), as the Shares are not listed on a market specified in MI 61-101, and (ii) from the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61-101, as the fair market value of the Shares does not exceed
About MYND Life Sciences (MYND)
MYND Life Sciences Inc. is a clinical-stage life sciences company focused on developing and commercializing drug therapies, along with a proprietary biomarker test, to diagnose and monitor the effectiveness of treatments for Major Depressive Disorder (MDD) and Treatment-resistant Depression (TRD). MYND's proprietary biomarker for depression has the potential to support personalized patient management strategies, leveraging the company's unique intellectual property and offering the possibility of near-term revenue opportunities. 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: Lih Ming Tam, CFO
Email: ir@myndsciences.com
Phone: 604-813-9795
Web: www.myndsciences.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240507
FAQ
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