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Financings

Mydecine Innovations Group Closes Debt Settlements

By The Northwire Desk — AI Analysis Oct 14, 2025 · 18:00 MYCO · 0.01 Mydecine Innovations Group Inc.
MYCO · Price

Executive Summary

  • Mydecine Innovations Group Inc. closed multiple debt settlement agreements, issuing convertible debentures totaling CAD $9,432,107 and USD $1,386,391 to settle outstanding liabilities.
  • The company announced a 50‑for‑1 share consolidation, reducing the share count from ~61.8 M to ~1.24 M shares, effective October 21, 2025.
  • No interest accrues on most settlement debentures unless an event of default occurs; one secured debenture bears 1% monthly interest.

Key Details

  • USD Settlement Agreements – Issued convertible debentures with aggregate principal USD $100,000 to two former insiders; remaining USD $1,386,391 debt forgiven. Debentures mature in 1 year, conversion price = greater of 30‑day VWAP or CSE minimum price. No interest unless default (8% p.a., compounded quarterly).
  • Bartch Settlement Agreement – CEO Joshua Bartch settled CAD $1,309,836 unpaid management fees via a convertible debenture of equal principal amount; matures in 1 year, conversion begins 4 months + 1 day after issuance, price = greater of 20‑day VWAP or CSE minimum.
  • Pioneer Settlement Agreement – Settled CAD $7,878,792 owed to Pioneer Garage Limited with a convertible debenture of the same terms as the Bartch Debenture.
  • Additional Arm’s‑Length Settlement – Settled CAD $243,479 legal fees via a secured convertible debenture (USD $100,000 principal). Bears 1% monthly interest, payable at maturity (Mar 20, 2027); default interest 24% p.a.; conversion price = greater of 30‑day VWAP or CSE minimum.
  • Statutory Hold Period – All issued securities subject to a four‑month‑plus‑one‑day hold period under applicable securities laws.
  • Share Consolidation – 50 old common shares will be exchanged for 1 new share; effective Oct 21, 2025 (record date). Post‑consolidation share count ~1,235,107; fractional shares rounded down with no cash payment. Convertible security conversion ratios adjusted proportionally. New ISIN: CA62849F4087; CUSIP: 62849F408.
  • Regulatory & Shareholder Approvals – Minority shareholder approval obtained per MI 61‑101; share consolidation approved at the October 1, 2025 shareholders’ meeting. Completion pending CSE filings.

Notable Quotes

“The board determined that settling outstanding debts by issuing debentures preserves cash for working capital and improves the Company’s financial situation.” – Joshua Bartch, CEO

Materiality Assessment: Material – Positive (the settlements and share consolidation materially restructure the balance sheet and are presented as steps to strengthen liquidity and financing prospects).

Read the original news release →

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Financings