Mississauga, Ontario (Newsfile Corp. – February 16, 2022) – MyndTec Inc. (“MyndTec” or the “Company”) is pleased to announce that it has filed and received a receipt for its final non-offering prospectus (the “Prospectus”) from the Ontario Securities Commission. The Prospectus has been filed under Multilateral Instrument 11-202 – Passport System in Alberta and British Columbia, and therefore a receipt for the Prospectus is deemed to also be issued by the regulator in each of those jurisdictions. As a result, the Company has become a reporting issuer in Ontario, Alberta, and British Columbia.
The Prospectus was filed for the purpose of the Company becoming a reporting issuer in the aforementioned jurisdictions pursuant to applicable securities legislation and to qualify the distribution of the securities issuable upon the conversion of 2,954,302 subscription receipt units previously issued by the Company (the “Distribution”). No securities are being sold and no proceeds were raised pursuant to the Prospectus.
The Company is also pleased to announce that it has received conditional approval to list its common shares (the “Common Shares”) on the Canadian Securities Exchange (the “CSE”) (the “Listing”). The Listing remains subject to the Company fulfilling all of the customary requirements of the CSE, including the receipt of all required documentation. Once final approval is received from the CSE, the Common Shares are expected to commence trading under the trading symbol “MYTC”. There is no assurance that the Company will ultimately be able to satisfy the requirements of the CSE.
The Prospectus contains important information relating to the Distribution. A copy of the Prospectus is available under the Company’s profile on SEDAR at www.sedar.com.
Co-founded in 2008 by Dr. Milos Popovic, MyndTec is a Canadian medical technology company dedicated to the development and commercialization of innovative products that improve function, maximize independence and enhance the quality of life for individuals who have suffered injury to the central nervous system as a result of stroke, spinal cord injury and certain traumatic brain injuries. The Company develops non-invasive neurological and nervous system electrical stimulation therapeutics for the treatment of neurological diseases and injury specifically targeted to markets with large, growing, global patient populations. The Company’s flagship product MyndMove™ is a non-invasive functional electrical stimulation-based intervention. MyndMove™ uses neuroplasticity mechanisms to stimulate development of new neural efferent and afferent pathways allowing patients to re-establish voluntary movement and improve independence in their activities of daily living. The MyndMove™ system offers trained therapists the ability to assist individuals affected with paralysis to improve voluntary control of their limbs. The MyndMove™ therapy system offers a broad spectrum of sophisticated functional electrical stimulation software protocols which therapists customize to patient needs to enable meaningful controlled movements via proprietary stimulation technology.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements that constitute forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation and the Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical statements of fact are forward-looking statements, including, but not limited to statements regarding beliefs, plans, expectations, strategy, objectives, goals and targets with respect to the Company, its Listing on the CSE, receipt of final approval by the CSE, orientations regarding the future as of the date of this news release and the expectation to trade its Common Shares on the CSE. Although the Company believes that such statements are reasonable and reflect the Company’s current expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct, if at all. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “aim”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “could”, “continue”, “would”, “will”, “potential”, “scheduled”, “goal”, “target”, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Actual events or results could differ materially from those anticipated in such-forward looking statements due to various factors.
Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future development, including, but not limited to, those risks and assumptions described in the Prospectus, a copy of which is available under the Company’s profile on SEDAR at www.sedar.com. While MyndTec considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions and satisfying all requirements for final approval from the CSE for the Listing. For more information on the risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the Prospectus, a copy of which is available under the Company’s profile on SEDAR at www.sedar.com. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States, or any other jurisdiction in which such offer, solicitation or sale would be unlawful. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States (or to any U.S. persons) or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act and applicable state securities laws, or an exemption is available, or qualification under the securities laws of such other jurisdictions or an exemption is available.
The CSE has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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