Breaking News: Mydecine Innovations Group Completes Acquisition of Neuropharm Inc. | Financial Buzz

Breaking News: Mydecine Innovations Group Completes Acquisition of Neuropharm Inc.

Mydecine Innovations Group Inc. (OTC: MYCOF) (CSE: MYCO) has closed its previously announced acquisition of NeuroPharm Inc., a developer of natural health, psychedelic-based treatments for post-traumatic stress disorder and other serious mental health disorders in veterans and frontline workers.

Pursuant to the terms of a definitive share exchange agreement, as amended, (the “Agreement”) among the Company, NeuroPharm, and NeuroPharm’s shareholders, the Company acquired all of the issued and outstanding shares of NeuroPharm in exchange for the issuance of 9,000,000 common shares of the Company (the “Payment Shares”) at a deemed price of $0.70 per Payment Share. 4,244,120 of the Payment Shares, which were issued for seed shares of NeuroPharm, are subject to a staged 24-month lock-up, whereby one-quarter of such Payment Shares will become free trading on January 14, 2021, one-quarter will become free trading on July 14, 2021, one-quarter will become free trading on January 14, 2022, and the final one-quarter will become free trading on July 14, 2022. The balance of the Payment Shares issuable to NeuroPharm shareholders shall be subject to lock-up until September 14, 2020.

Joshua Bartch, Chief Executive Officer of Mydecine commented: “I am extremely excited to welcome NeuroPharm and its distinguished team to the Mydecine family. This acquisition will greatly expand the Company’s research capacity and help advance both scientific understanding and the availability of naturally-sourced psilocybin to research institutions around the globe.”

NeuroPharm shareholders are entitled additional common shares of the Company (“Additional Shares”) in the event the volume-weighted average closing price (the “Market Price”) of the Common Shares on the Canadian Stock Exchange in the twenty (20) trading days prior to a date on which Payment Shares are released from lock-up is less than $0.70. In such a case, on each such release date, NeuroPharm shareholders shall be entitled to such number of Additional Shares as is determined by multiplying the difference between $0.70 and the Market Price by the number of Payment Shares to be released on such release date, and dividing the product by such Market Price, subject to a maximum cumulative issuance of 30% of the Payment Shares issuable to each NeuroPharm Shareholder. Moreover, Mydecine has agreed to advance certain working capital to NeuroPharm within 30 days following closing. In the event that Mydecine does not provide said working capital it shall issue an additional 2,700,000 common shares to the NeuroPharm shareholders.

Pursuant to the Agreement, the Company issued to NeuroPharm representatives 10,000,000 performance warrants (each a “Performance Warrant”) which shall vest in tranches upon the achievement of certain clinical trial and patent application milestones. Each Performance Warrant upon vesting will be exercisable into common shares at a price per share equal to a 20% discount to the market price of the Common Shares on the trading date immediately preceding receipt of notice of exercise from the Performance Warrant holder. The Performance Warrants will expire five years following the closing date.

In addition, Mydecine has engaged Native Ads Inc. to execute a comprehensive digital media marketing campaign for the Company. This programmatic digital advertising campaign will run for a 3-month period at a cost of approx. $135,000, and is to include content creation, web development, media buying and distribution, advertising creative development, campaign reporting and optimization.

About NeuroPharm Inc.

NeuroPharm Inc. is a Canadian-based healthcare company developing a unique set of pharmaceutical and natural health products addressing mental wellness in vulnerable populations. It is committed to bringing to market adaptive plant-based therapies for use as an adjunct to clinical therapy to treat traumatic disorders specifically observed in veterans and first responders. NeuroPharm was founded by a dedicated group of former military personnel motivated to seek alternative treatments addressing these traumatic disorders experienced by many veterans following active service. The management team is proud to include contributions and advisory from esteemed scientific, academic, clinical and product development specialists.

About Mydecine Innovations Group Inc.

Mydecine Innovations Group(TM) is a publicly traded life sciences parent company dedicated to the development and production of adaptive pathway medicine, natural health products and digital health solutions stemming from fungi. Mydecine’s experienced cross functional teams have the dynamic capabilities to oversee all areas of medicine development including synthesis, genetic research, import/export, delivery system development, clinical trial execution, through to product commercialization and distribution. By leveraging strategic partnerships with scientific, medical, military, and clinical organizations, Mydecine is positioned at the forefront of psychedelic medicine naturally derived from fungi, therapeutic solutions, and fungtional(TM) mushroom vitality products. Our portfolio of unified companies, including Mydecine Health Sciences(TM), MindLeap Health(TM), and NeuroPharm(TM) focus on providing innovative and effective options that can provide millions of people with a healthier quality of life.

Sponsored Content Release. Click for Full Disclosure

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

  • Sponsored Content Release, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For mydecine innovations group inc., video production, filming editing, news reporting, financial and corporate news dissemination, has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: