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MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) has announced two strategic moves to strengthen its position. The company has converted $800,619.65 (CDN) in loan and officer deferred salary debt into company shares, demonstrating leadership’s commitment to its vision of commercializing a diagnostic biomarker test for depression. Additionally, Lana Hoogenboom, a pharmaceutical industry veteran with 12 years of experience at Otsuka Canada, has been appointed to the Board of Directors to advance commercialization strategies and partnership initiatives.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) ha annunciato due mosse strategiche per rafforzare la propria posizione. L’azienda ha convertito $800.619,65 (CDN) in debito di prestiti e salari differiti degli ufficiali in azioni dell’azienda, dimostrando l’impegno della leadership nella propria visione di commercializzare un test diagnostico per il biomarker della depressione. Inoltre, Lana Hoogenboom, esperta del settore farmaceutico con 12 anni di esperienza presso Otsuka Canada, è stata nominata nel Consiglio di Amministrazione per avanzare le strategie di commercializzazione e le iniziative di partnership.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) ha anunciado dos movimientos estratégicos para fortalecer su posición. La empresa ha convertido $800,619.65 (CDN) de deuda de préstamos y salarios diferidos de los oficiales en acciones de la empresa, lo que demuestra el compromiso de la dirección con su visión de comercializar una prueba de biomarcador diagnóstico para la depresión. Además, Lana Hoogenboom, veterana de la industria farmacéutica con 12 años de experiencia en Otsuka Canada, ha sido nombrada en la Junta Directiva para avanzar en las estrategias de comercialización y en las iniciativas de asociación.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF)는 자리를 강화하기 위한 두 가지 전략적 조치를 발표했습니다. 이 회사는 $800,619.65 (CDN)의 대출 및 임원 연기 급여 부채를 회사 주식으로 전환하여, 우울증에 대한 진단 바이오마커 테스트 상용화 비전에 대한 경영진의 의지를 보여주고 있습니다. 또한, Lana Hoogenboom는 오츠카 캐나다에서 12년의 경력을 가진 제약 산업 베테랑으로서 상용화 전략과 파트너십 이니셔티브를 발전시키기 위해 이사회에 임명되었습니다.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) a annoncé deux actions stratégiques pour renforcer sa position. L’entreprise a converti $800,619.65 (CDN) de dettes liées à des prêts et de salaires différés d’agent en actions de l’entreprise, démontrant ainsi l’engagement des dirigeants envers leur vision de commercialiser un test de biomarqueur diagnostique pour la dépression. De plus, Lana Hoogenboom, vétérane de l’industrie pharmaceutique avec 12 ans d’expérience chez Otsuka Canada, a été nommée au Conseil d’administration pour faire avancer les stratégies de commercialisation et les initiatives de partenariat.
MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) hat zwei strategische Schritte angekündigt, um seine Position zu stärken. Das Unternehmen hat $800.619,65 (CDN) an Darlehen und aufgeschobener Gehaltsverbindlichkeiten in Unternehmensanteile umgewandelt, was das Engagement der Geschäftsführung für die Vision, einen diagnostischen Biomarker-Test für Depressionen zu kommerzialisieren, unterstreicht. Darüber hinaus wurde Lana Hoogenboom, eine erfahrene Fachkraft der Pharmaindustrie mit 12 Jahren Erfahrung bei Otsuka Canada, in den Vorstand berufen, um die Kommerzialisierungsstrategien und Partnerschaftsinitiativen voranzutreiben.
Positive
- Reduction of $800,619.65 (CDN) in debt through conversion to equity
- Addition of experienced pharmaceutical industry executive to Board of Directors
- Strategic alignment of management interests with shareholders through debt-to-equity conversion
Negative
- Potential shareholder dilution from debt-to-equity conversion
Vancouver, British Columbia–(Newsfile Corp. – November 22, 2024) – MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) (“MYND” or the “Company“), a leader in mental health diagnostics and treatments, today announced two significant strategic decisions aimed at strengthening the company’s financial position and governance. These moves demonstrate a strong commitment to the company’s vision and strategic plan to commercialize a diagnostic biomarker test for depression which is being initially developed for the purpose of diagnosing and monitoring those with major depressive disorder (MDD).
Debt Reduction
As part of our ongoing commitment to financial health and operational efficiency, MYND Life Sciences has successfully removed $800,619.65 (CDN) in Loan and Officer deferred salary debt and has been converted into shares of MYND Life Sciences. This conversion is intended to align the interests of the company’s leadership with its shareholders and to demonstrate a buy-in to MYND’s vision and strategic plan.
“We believe this move reflects our unwavering commitment to the company’s future and our confidence in our strategic direction in developing a depression biomarker test,” said Colin Campbell, CEO. “By converting our debt into equity, we are not only reinforcing our belief in MYND’s long-term success but also aligning our interests more closely with those of our shareholders.”
New Strategic Board Member
MYND Life Sciences is pleased to announce the appointment of Lana Hoogenboom to its Board of Directors. Throughout her career, Lana Hoogenboom has held key positions in the pharmaceutical industry and has spent the last 12 years with Otsuka Canada. With extensive experience in the pharmaceutical sector and a proven track record in fostering relationships in the Pharmaceutical industry, Lana Hoogenboom will play a pivotal role in advancing the company’s commercialization strategies and partnership initiatives.
Lana’s deep understanding of the complexities of the pharmaceutical landscape and the ability to expand market presence and develop innovative solutions for unmet needs.
“We are thrilled to welcome Lana Hoogenboom to our Board of Directors,” said Colin Campbell, CEO of MYND Life Sciences. “Lana’s extensive experience and strategic insights will be instrumental in guiding our commercialization efforts and establishing partnerships that will drive our growth and success.”
“I am honoured to join the Board of Directors at MYND Life Sciences”, said Lana Hoogenboom. “I look forward to working with the talented team and my fellow board members to drive continued innovation and growth.”
About MYND Life Sciences (MYND)
MYND Life Sciences Inc. is a clinical-stage life science company focused on the development and commercialization of a proprietary biomarker test which is labeled as the MYND Anti-Inflammatory Peptide test or “MAP”. This biomarker test is aimed at diagnosing and monitoring depression by tracking neuroinflammation which is thought to be a significant factor in Major Depressive Disorder (MDD) and treatment-resistant depression. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231149
FAQ
How much debt did MYND Life Sciences (MYNDF) convert to equity in November 2024?
MYND Life Sciences converted $800,619.65 (CDN) in loan and officer deferred salary debt into company shares.
Who is the new board member appointed to MYND Life Sciences (MYNDF)?
Lana Hoogenboom, a pharmaceutical industry veteran with 12 years of experience at Otsuka Canada, was appointed to MYND Life Sciences’ Board of Directors.
What is MYND Life Sciences (MYNDF) developing as their main product?
MYND Life Sciences is developing a diagnostic biomarker test for depression, initially focused on diagnosing and monitoring major depressive disorder (MDD).
