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Mydecine Innovations Group ( (TSE:MYCO) ) has issued an announcement.
Mydecine Innovations Group Inc. has successfully completed debt settlement agreements to address outstanding debts totaling over USD $1.3 million and CAD $9.4 million. By issuing convertible debentures to creditors, including former insiders and its CEO, the company aims to preserve cash for working capital and improve its financial situation. This strategic move is expected to strengthen Mydecine’s financial position and support its ongoing operations in the mental health and wellness sector.
More about Mydecine Innovations Group
Mydecine Innovations Group Inc. operates in the biotechnology industry, focusing on developing innovative solutions and products for mental health and wellness. The company is involved in creating psychedelic-based therapies and treatments, aiming to address various mental health conditions.
Average Trading Volume: 38,566
Technical Sentiment Signal: Sell
Current Market Cap: C$617.6K
See more insights into MYCO stock on TipRanks’ Stock Analysis page.