MYND Life Sciences Announces Shares for Debt Transaction

Core Points - MYND Life Sciences Inc. has entered into shares for debt agreements to address an outstanding debt of $2,273,062.30, which includes loans, fees, and unpaid interest [1] - The company plans to issue 22,730,623 common shares at a deemed price of $0.10 per share to creditors, including related parties [1] - The shares issued will be subject to a hold period of four months plus one day according to Canadian Securities Exchange policies [2] Related Party Transactions - The shares for debt transaction involving related parties is classified as a "related party transaction" under Multilateral Instrument 61-101 [3] - The issuance is exempt from the valuation requirement and minority shareholder approval due to specific exemptions in MI 61-101 [3] - The participation of related parties has been approved by independent directors of the company [3] Company Overview - MYND Life Sciences is focused on developing drug therapies and a proprietary biomarker test for diagnosing and monitoring treatments for Major Depressive Disorder (MDD) and Treatment-resistant Depression (TRD) [4] - The proprietary biomarker has potential for personalized patient management strategies and aims to be the first test of its kind targeting depression [4] - The company is leveraging its unique intellectual property to create near-term revenue opportunities in a market with significant unmet needs [4]