Mydecine Innovations Group Appoints Josephine Wu to Board of Directors

Rhea-AI Summary

Mydecine Innovations Group announces the appointment of Josephine Wu to its Board of Directors, aiming to enhance growth and strategic direction. Wu, with over 18 years in hedge fund and healthcare investment, replaces Michael Connolly, who resigned. This leadership change contributes positively to governance as the Caveat Emptor designation on OTC markets is lifted, facilitating Mydecine's compliance with U.S. trading regulations. The company focuses on developing innovative solutions in mental health, leveraging Wu's extensive experience to further its business model and partnerships.

Positive

• Appointment of Josephine Wu adds valuable expertise in biopharma and healthcare investment.
• Removal of Caveat Emptor designation enhances market perception and trading compliance.
• Wu's extensive network and experience in drug commercialization could accelerate growth.

Negative

• Resignation of Michael Connolly raises concerns about continuity in board experience.

Provides update on U.S. OTC Listing

DENVER, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, announced the appointment of Josephine Wu, Founder and CIO at Aionious Management, Ltd., to the Company’s Board of Directors.

Josh Bartch, Chairman and CEO of Mydecine, stated, “The Board of Directors welcomes Ms. Josephine Wu to our board as a contributing member as Mydecine continues its growth trajectory. Josephine’s operational and financial leadership in the healthcare and biopharma spaces in addition to her experience bringing numerous successful drugs to market underpins Mydecine’s core strategy in the sector. Her knowledge will be incredibly valuable as we continue to execute on our business model and provide tremendous value to our partners, investors and shareholders.”

Ms. Wu has over 18 years of hedge fund, family office and global asset management experience including 10 years of listed, pre-IPO and early-stage Pan-Asia healthcare investment experience. She has been CIO and portfolio manager with combined assets under management over US$5 billion. She is the founder and CIO of Aionious Management Limited, a dedicated healthcare investment company which invests and provides business development and commercialization strategies in pan Asia region, specifically in China. Ms. Wu brings in an extensive network of experts in operation, clinical, market positioning and regulatory knowledge in the Pan Asia healthcare landscape. Her investments in different stages healthcare companies have led to a few successful commercialization launches of pharmaceutical products, regulatory approvals for decontamination solutions for hospitals and research centers and signing of strategic partnerships in commercialization transactions and IPOs.

“I am pleased to join Mydecine’s Board of Directors to support management efforts to develop innovative solutions using psychedelic-assisted therapies to treat the global mental health challenge,” said Ms. Wu. “Throughout my career, I have leveraged my experiences in healthcare to advance both start up and mature companies through their various stages of development. I am excited to get to assist Mydecine as it continues progress its business model.”

Corporate Governance
Additionally, Mydecine, with its appointment of Ms. Wu continues to focus on best practices in corporate governance. As a result, OTC markets has removed the Caveat Emptor designation, which had previously been associated with its stock ticker. The Company continues to comply with all listing requirements of the OTC Markets and anticipates trading restrictions in the U.S. to be removed.

Further, the Company announces the resignation of Michael Connolly from the Board of Directors. The Company would like to thank Mr. Connolly for his time, services and for the valuable contributions he made during his tenure as Director. Ms. Wu replaced Mr. Connolly on the Board of Directors.

About Mydecine Innovations Group
Mydecine Innovations Group™ (CSE: MYCO) (OTC: MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

Mydecine Innovations Group Media Contacts:
Anne Donohoe / Nick Opich
KCSA Strategic Communications
adonohoe@kcsa.com / nopich@kcsa.com
1-212-896-1265 / 1-212-896-1206

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

Corp Communication:
Charles Lee, Investor Relations
corp@mydecineinc.com
+1-720-277-9879

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Mydecine to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Mydecine will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

FAQ

Who is Josephine Wu and what is her role in Mydecine?

Josephine Wu is the newly appointed member of Mydecine's Board of Directors, with extensive experience in healthcare investment.

What impact does Josephine Wu's appointment have on Mydecine?

Her appointment is expected to strengthen Mydecine’s strategic direction and operational leadership in the healthcare sector.

What does the removal of the Caveat Emptor designation mean for Mydecine?

The removal indicates improved corporate governance and compliance, which could enhance investor confidence and trading activity.

Who replaced Michael Connolly on Mydecine's Board?

Josephine Wu replaced Michael Connolly on the Board of Directors.

How long has Josephine Wu been in the healthcare investment field?

Josephine Wu has over 18 years of experience in hedge fund and healthcare investment.