MYND Life Sciences Announces the Sale of Leasehold Tenant Improvements and Health Canada Cannabis License
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) - MYND Life Sciences Inc. (CSE: MYND) (OTCQB: MYNDF) ("MYND" or the "Company"), a biopharmaceutical research and development company creating innovated and precision medicines for patients with relentless neurological diseases, is pleased to announce the disposition of the Company's leasehold agreement at 733 Finns Road, Kelowna with tenant improvements and a Health Canada cannabis license for an aggregate $1,000,000.
The 733 Finns Road facility was built to Good Manufacturing Practices (GMP) standards and the Company applied for, and received a Health Canada Cannabis license for the facility which prompted the successful sale. The closing of the sale of 733 Finns Road represents an important advancement in providing the Company access to capital to fund future growth initiatives. MYND's business strategy remains consistent in translating innovative research approaches, with a strong focus on scientific excellence, into safe and effective neuro-pharmaceutical treatments and diagnostic capabilities for Central Nervous System diseases.
Despite a struggling psychedelic sector, MYND remains competitively positioned with a robust patent portfolio and heavy investment into scientific research and development. MYND will utilize the capital from the sale to explore pharmaceutical partnerships and licensing opportunities that will compound the Company's growth over the next 12 months.
ABOUT MYND LIFE SCIENCES INC.
MYND Life Sciences Inc. is a medical biotech drug research and development company focused on neuro-pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. MYND is developing new biological entities (NBEs) and new chemical entities (NCEs) and differentiates itself from other (bio)pharmaceutical companies by unique molecular concepts for the applications of Psilocybins for overcoming disease. The Company advances pharmaceutical developments through rigorous science and clinical trials while diligently patenting and safeguarding its intellectual property.
For more information and to subscribe to MYND's mailing list, please visit https://www.myndsciences.com/contact-us.
Dr. Lyle Oberg, MD, CEO
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MYND to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this release.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
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