Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Mynd Life Sciences Inc. (CNSX: MYND) (“Mynd” or the “Company”) announces that it has been advised by its external auditors (the “Auditors”) that they will not be in a position to complete their work on the Company’s annual consolidated financial statements for the year ended October 31, 2024 (the “2024 Financial Statements”) prior to the filing deadline of February 28, 2025 (the “Annual Filing Deadline”) due to a delay in finalizing the required financial documents due to significant restructuring of the Company’s debt and equity. As a result, the Company will not be able to file the 2024 Financial Statements, accompanying Management Discussion & Analysis and CEO and CFO certifications, and the Annual Information Form (collectively, the “2024 Annual Filings”) prior to the Annual Filing Deadline as required under applicable Canadian securities laws. The Company has made arrangements to complete and file the 2024 Financial Statements prior to the April 29, 2025 deadline. Accordingly, subsequent to the Annual Filing Deadline, the Company will be in default of its continuous disclosure obligations under applicable Canadian securities laws and placed on the defaulting issuers list of the British Columbia Securities Commission (“BCSC”).
The Company further announces that it has been granted a management cease trade order (MCTO) under National Policy 12-203 of the Canadian Securities Administrators (“NP 12-203") imposed against certain insiders of the Company. The MCTO will remain in effect until the Company has filed its audited statements and the Executive Director of the BCSC has revoked the order. The Company will be required to comply with the provisions of the alternative information guidelines as set out in NP 12-203 for so long as the MCTO remains in effect, including the issuance of bi-weekly default status reports by way of press releases.
The Company will make further announcements with respect to the status of the 2024 Annual Filings as and when appropriate.
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.
Contact:
Dr. Lyle Oberg, MD, Executive Chair
Email: ir@myndsciences.comWeb: www.myndsciences.com
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