Mydecine Innovations Group - CEO, Josh Bartch.
CEO, Josh Bartch.
Source: Mydecine Innovations Group.
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  • Mydecine Innovations Group Inc. (MYCO) signed a common share subscription agreement for $244,99.50
  • It issued 326,666 common shares for $0.75 per share
  • The funds will be used to further Mydecine’s drug developments
  • Mydecine focuses on producing treatments for mental health disorders
  • Also, Mydecine appointed three new auditor committee members and an interim CFO
  • Mydecine Innovations Group Inc. (MYCO) is down 16.90 per cent and is trading at $0.64 per share at 2:13 p.m.

Mydecine Innovations Group (MYCO) has signed a common share subscription agreement with a third-party investor for proceeds up to $244,99.50.

The company issued 326,666 common shares for $0.75 per common share. The funds raised will be used to further Mydecine’s drug developments.

Mydecine is a biotechnology company developing medications and therapies to address mental health disorders such as nicotine addiction and post-traumatic stress disorder.

In other news, Mydecine announced that Joshua Bartch, Todd Heinzl, and Robert Roscow have been appointed on an interim basis as members of the company’s audit committee. These new appointments follow the recent resignation of the three independent directors who sat on the committee.

Josh Bartch, Mydecine’s CEO and Chairman, commented on the news.

“Mydecine is in the process of several internal changes that we believe will be vital to the future success of the company. The company has made several positive changes to narrow focus, reduce cash burn, and increase efficiency to ensure future success. We expect to make several positive updates to the market in the near term.”

The company reported that Larry Dean Ditto has resigned as CFO for personal reasons. Ditto’s resignation is effective immediately and the company has appointed Damon Michaels, Mydecine’s COO, to serve as interim CFO until a suitable replacement is found.

Mydecine Innovations Group Inc. (MYCO) is down 16.90 per cent and is trading at $0.64 per share at 2:13 p.m.


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