- Mydecine Innovations Group (MYCO) has signed a letter of intent to sell its digital technology subsidiary, Mindleap Health Inc. to PanGenomic Health Inc.
- The company will sell all Mindleap’s outstanding shares to Pangenomic for C$4 million, payable by the issuing of units at C$0.20 per unit
- PanGenomic will pay Mydecine a monthly consulting fee of $50,000 (C$100,000 total) during a two-month phase of transition, transfer, and integration of Mindleap technologies into PanGenomic’s technology platform
- Mydecine Innovations Group Inc. (MYCO) is trading steady at $0.55 per share at 10:45 a.m. ET
Mydecine Innovations Group (MYCO) has agreed to sell its digital technology subsidiary, Mindleap Health, to PanGenomic Health Inc.
The company will sell all Mindleap’s outstanding shares to Pangenomic for C$4 million, payable by the issuing of units at C$0.20 per unit. Each Unit comprises one Class A Common Share of PanGenomic and one share purchase warrant to purchase one additional for C$0.30 per unit Warrant Share, for 24 months from the closure of the purchase and sale of Mindleap Shares.
PanGenomic will pay Mydecine a monthly consulting fee of $50,000 (C$100,000 total) during a two-month phase of transition, transfer, and integration of Mindleap technologies into PanGenomic’s technology platform.
Mydecine’s CEO and Chairman, Josh Bartch, commented,
“We have spent significant time and resources over the past two years developing a truly world-class mental health platform that is original, built from the ground up, intuitive, and scalable, all while addressing some of the world’s most pressing mental health issues.”
PanGenomic Health’s Executive Chair, Robert Nygren, added that people assume more control over their personal health decisions and are interested in evidence-based information about novel treatments for mental health conditions.
“We believe that the team at Mindleap Health has developed an extremely user-friendly and professional app that connects consumers with trusted information about the emerging field of psychedelic-assisted therapy and qualified health practitioners.”
Mydecine Innovations Group is a biotechnology company developing novel therapeutics for the treatment of mental health and addiction.
Mydecine Innovations Group Inc. (MYCO) is trading steady at $0.55 per share at 10:45 a.m. ET.