Breaking News: Mydecine Innovations Group Inc. Signs Definitive Agreement for Acquisition of NeuroPharm Inc. Positioned as a Leader in the Development of Psychedelic Treatments for the Betterment of Veterans | Financial Buzz

Breaking News: Mydecine Innovations Group Inc. Signs Definitive Agreement for Acquisition of NeuroPharm Inc. Positioned as a Leader in the Development of Psychedelic Treatments for the Betterment of Veterans

Mydecine Innovations Group Inc. (OTC: MYCOF) (CSE: MYCO), is pleased to announce that, further to its press release on June 10, 2020, it has entered into a definitive share exchange agreement (the “Share Exchange Agreement”) for the acquisition (the ” Acquisition “) of 100% of NeuroPharm Inc. (“NeuroPharm”), a Canadian-based developer of natural psychedelic-based treatments for mental health disorders in the Canadian and United States veteran communities.

NeuroPharm, in collaboration with its strategic partners, is deploying evidence-based medicine in the establishment of psychedelic-based therapies addressing the unmet needs of high-risk constituents. NeuroPharm is focused on developing unique and proprietary technologies to treat various mental health conditions frequently experienced by veterans and frontline workers such as PTSD, depression, addiction, anxiety, and panic disorders as well as migraine and cluster headaches.

NeuroPharm’s management team is composed of critically acclaimed scientists and military personnel boasting extensive drug development experience and deep, embedded relationships within the Canadian and U.S. militaries. It has established valuable partnerships with leading research organizations in both North America and the EU, and is poised to initiate a series of unique clinical trials this summer.  In conjunction with a preeminent university in the EU, NeuroPharm will be initiating veteran-based clinical trials for the treatment of PTSD with microdosed MDMA/psilocybin formulations.  This inceptive trial will serve as the basis for follow-on trials conducted in Canada and the United States. NeuroPharm’s veteran focus allows for fast-track “adaptive pathways” which should significantly reduce time to market. 

NeuroPharm boasts extensive established relationships with global military organizations and a distinguished team of inter-disciplinary experts. Its commitment to excellence and stewardship uniquely positions NeuroPharm to oversee all areas of the product life cycle, including medical mushroom cultivation, drug delivery system development, clinical trial execution, all the way through to product commercialization.

“According to recent published data, as many as 20 veterans on average commit suicide per day in the U.S. alone, and, to me, this is a heart-breaking staggering statistic that unfortunately is overlooked by so many. We owe everything to our veterans, EMS and frontline personnel, yet the best solutions for their long-term mental health are currently non-existent. Aligning ourselves with the amazing team at NeuroPharm affords us the ability to make a positive change. Myself and the rest of the Mydecine team are truly honoured to be a part of this effort to finally make a difference and we are incredibly excited about what we will all accomplish together” stated Josh Bartch, CEO of Mydecine.

Colonel (Ret’d) Pucci, CEO of NeuroPharm further commented:

“Our mission is to develop and bring to market treatments addressing the mental health conditions frequently experienced by veterans, including PTSD, depression and anxiety.  We understand the unique circumstances of the veteran community and are devoted to treating these substantial unmet needs. Our collaborative partnership with Mydecine will accelerate our ability to address the enormous challenge of restoring the overall wellness in the veteran, EMS and frontline personnel communities. We are most pleased to be part of the Mydecine family of companies. “

Mydecine and NeuroPharm will unite to focus on an integrated health and wellness research strategy and the development of products underpinned by therapies to assist veterans with mental health issues. The Acquisition will help establish Mydecine as one of the world’s leading authorities in psychedelic-based therapies and research, and maintain the Company’s status as a true market leader.

Terms of Share Exchange Agreement

Pursuant to the terms of the Share Exchange Agreement, Mydecine will acquire 100% of the issued and outstanding shares of NeuroPharm in exchange for 9,000,000 common shares in the capital of Mydecine (the “Payment Shares”) at a deemed value of $0.70 per Payment Share. The Payment Shares issued for seed shares of NeuroPharm shall be subject to restrictions on resale for a period of 24 months from closing of the Acquistion, and shall be released in four 25% tranches. The balance of the Payment Shares issuable to NeuroPharm shareholders shall be subject to restrictions on resale for a period of 60 days from closing of the Acquisition.

Additionally, Mydecine shall also issue 10,000,000 performance warrants (the “Performance Warrants”) that will be provided to designated officers, employees, and consultants of NeuroPharm and shall vest in tranches upon: (i) the successful completion of up to six clinical trials designed to study psilocybin in Veterans suffering from PTSD; and (ii) upon the filing by NeuroPharm of up to five patent applications in Canada and/or the United States relating to the business of NeuroPharm.

Following closing, NeuroPharm shall have the right to immediately nominate one director to the board of directors of Mydecine, and in respect of subsequent three annual meetings of the shareholders of Mydecine following closing, nominate up to two individuals for inclusion on the slate of nominees in the management information circular of Mydecine relating to the election of directors.

Pursuant to the Share Exchange Agreement, Mydecine shall allot and advance operating funds of $500,000 to NeuroPharm upon closing and has agreed to fund further capital requirements of NeuroPharm for the 18-month period following closing.

Mydecine will pay a finder’s fee in connection with the Acquisition to an arm’s length third party payable in common shares of Mydecine at a deemed price per share equal to $0.70.

About Mydecine Innovations Group Inc.

Mydecine Innovations Group is a life sciences company dedicated to the development and commercialization of adaptive pathway medicines, natural health products and digital health solutions. Mydecine’s experienced cross functional team dynamic has the capabilities to oversee all areas of drug development including synthesis, drug delivery system development, clinical trial execution, through to product commercialization and marketing. By leveraging strategic partnerships with scientific, medical, military, and clinical organizations, Mydecine is at the forefront of the efficient development of psychedelic derived medicines and therapeutic solutions. Our trailblazing portfolio of companies is focused on providing innovative and effective treatment options that can help millions of people live healthier lives.

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.

Sponsored Content Release. Click for Full Disclosure

  • Sponsored Content Release

    FinancialBuzz.com, 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, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com 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: FinancialBuzz.com 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 http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, 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. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com 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, FinancialBuzz.com 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. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com 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. FinancialBuzz.com, 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. FinancialBuzz.com. 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 FinancialBuzz.com 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 FinancialBuzz.com. 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: http://www.financialbuzz.com.