MYND Life Sciences Announces Successful Conclusion of Debenture Settlement Agreement and Leadership Transition
January 10, 2025 12:29 AM EST | Source: MYND Life Sciences Inc.
Vancouver, British Columbia--(Newsfile Corp. - January 10, 2025) - MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of a biomarker tool for monitoring depression, today announced that the application to end its debenture has been successfully accepted by both the debenture holders and the regulatory commission. This announcement confirms the removal of $3.5 Million (CDN) of debt from its balance sheet.
"We are delighted to announce the successful conclusion of our debenture agreement," said Lih Tam, Chief Financial Officer of MYND Life Sciences Inc. "This milestone is a testament to a focused strategic vision centered around developing the first depression biomarker test for diagnosing and monitoring those battling with major depressive disorder," he added.
The removal and details of the debenture will be reflected in MYND's upcoming financial statements.
With the successful retirement of the debenture, Colin Campbell has stepped down from his CEO role, having successfully completed the goal of repositioning the Company for future success. Mr. Campbell will be retaining his role as a Director and will be supporting the process to identify a new CEO that will be effective in continuing to move the Company forward through the clinical testing phase of the proprietary biomarker test for depression and to commercialization. The Board will provide further updates to the market regarding the appointment of a new CEO in due course.
About MYND Life Sciences (MYND)
MYND Life Sciences Inc. is a clinical-stage life sciences company focused on the development and commercialization of a proprietary biomarker test aimed at diagnosing and monitoring the effectiveness of Major Depressive Disorder (MDD) and Treatment-resistant Depression (TRD). MYND's proprietary biomarker for depression will drive personalized patient management strategies leveraging MYND's unique IP which provides potential for near-term revenues. MYND is developing this test with the goal of being the first test to market of its kind, targeting depression, where there is a tremendous unmet need. For more information, you can visit www.myndsciences.com.
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