As an emerging BioPharma and life sciences company, Mydecine is currently researching and developing alternative natural medicines and constructing a drug pipeline for the psychedelic industry.

Mydecine received 34,500,000 units of the company for an issue price of $0.50 per unit which makes the aggregated proceeds to the company at $17,250,000. Mydecine operates a cGMP certified lab in Canada and a state-of-the-art mycology lab in Denver Colorado focusing on genetic research for vertically integrated commercial cultivation of non-psychoactive medicinal mushrooms. Mydecine plans to use net proceeds of the offering to invest in additional clinical trials and expand its intellectual property portfolio. Mydecine is also aggressively pursuing continued collaborations and initiatives to generate additional working capital. Joshua Barch, CEO of Mydecine states, "We are excited about the closing of this financing. We greatly appreciate the interest and support from our investor base. This offering further strengthens Mydecines balance sheet and positions the company for continued growth in 2021." Warrants are expected to be listed for trading on the Canadian securities exchange on Tuesday, February 16, 2021.