MyndTec Inc. Announces Non-Brokered Private Placement

Mississauga, Ontario, October 1, 2024 – MyndTec Inc. (“MyndTec” or the “Company”) (CSE: MYTC), an emerging player in neurological treatment and rehabilitation, is pleased to announce that it has launched a non-brokered private placement offering of up to 533,333 units of the Company (the “Units”) at a price of $0.75 per Unit (the “Issue Price”) to raise aggregate gross proceeds to the Company of up to $480,000 (the “Offering”).

Each Unit shall be comprised of one common share (each, a “Common Share”) in the capital of the Company and one Common Share purchase warrant (each, a “Warrant”), whereby each Warrant will be exercisable to acquire one Common Share (each, a “Warrant Share”) at an exercise price of $0.90 per Warrant Share for a period of 36 months following the Closing Date (as defined herein).

The Company intends to use the net proceeds of the Offering for general corporate purposes, including working capital, corporate development and sales and marketing.

The Units may be offered for sale to prospective investors (each, an “Investor”) (i) in all provinces and territories of Canada pursuant to available prospectus exemptions, (ii) in the United States on a private placement basis pursuant to available exemptions from the registration requirements under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and (iii) such other jurisdictions as may be determined by the Company pursuant to available prospectus or registration exemptions in accordance with applicable laws.

The Offering may be completed in one or a number of closings on a date or dates to be determined by the Company (each, a “Closing Date”), and is subject to, among other things, the receipt of all necessary approvals, including from the Canadian Securities Exchange (“CSE”), and the execution of definitive documentation.

All securities issued pursuant to the Offering will be subject to a statutory hold period of four (4) months from the applicable Closing Date.

This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities described herein have not been, and will not be registered under the U.S. Securities Act or under any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

It is anticipated that an insider will acquire Units under the Offering. Such participation will be considered a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). It is anticipated that the transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because the Company is not listed on a stock exchange specified in Section 5.5(b) of MI 61-101 and neither the fair market value of securities being issued to such insider, nor the consideration being paid by such insider will exceed $2.5 million.

About MyndTec
MyndTec is a CSE-listed medical technology company focused on using neurostimulation to restore function and improve treatment for individuals who have suffered from diseases, disorders and damage to the central nervous system, including Parkinson’s disease, Alzheimer’s disease and stroke. The Company has developed the MyndMove™ system, a non-invasive functional electrical stimulation-based intervention, that uses neuroplasticity mechanisms to stimulate the development of new neural pathways allowing patients to re-establish voluntary movement and improve living independence. The company is researching new treatments and uses for neurostimulation and other technologies to improve patient outcomes.

For more information, visit the Company’s website at www.myndtec.netsquares.ca

Contact Information
Craig Leon, CEO
MyndTec Inc.
investor.relations@myndtec.netsquares.ca
Tel: (905) 919-3144

Bill Mitoulas, Principal
Venture North Capital Inc.
billm@venturenorthcapital.com
Tel: (416) 479-9547

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements in this news release that are not historical facts are forward-looking statements, including, but not limited to, all statements regarding: the Offering and events, performance or results of operations that the Company believes, expects or anticipates will or may occur in the future. Forward-looking statements are typically, but not always, 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.

Forward-looking statements are necessarily based on a number of estimates and assumptions that include, but are not limited to: expected future development; general economic conditions; the ability of the Company to execute on its business objectives; and other estimates and assumptions described in the Company’s Listing Statement dated February 18, 2022 and other public filings, including its most recent MD&A, available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Forward-looking statements are inherently subject to a number of significant risks and uncertainties that could cause actual results or events to differ materially from those described in or implied by the forward-looking statements. Important risks and uncertainties that could cause actual results or events to differ materially from expectations include, but are not limited to: the Company’s ability to continue as a going concern; the Company’s research, development and commercialization of its products could be stopped or delayed if any third party fails to provide sufficient quantities of products or components, or fails to do so at acceptable quality levels or prices, or fails to maintain or achieve satisfactory regulatory compliance, or fails to obtain and maintain necessary intellectual property protections, as well as to navigate potential challenges from third parties asserting their own intellectual property rights; the Company expects to incur significant ongoing costs and obligations relating to its investment in infrastructure, growth, research and development, licensing, regulatory compliance and operations; and other risks and uncertainties described in its Listing Statement and other public filings. The Company has attempted to identify important factors that could cause actual results, performance or achievements to vary from those expectations expressed or implied by the forward-looking statements, however, there may be other factors that cause results, performance or achievements not to be as expected and that could cause actual results, performance or achievements to differ materially from current expectations.

These forward-looking statements are only current as of the date of this news release. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties and the Company provides no assurance that they will prove to be correct. Readers should not place undue reliance on such forward-looking statements. The Company does not undertake any obligation to update forward-looking statements contained herein, other than as required by applicable law. Accordingly, investors should not place undue reliance on forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.

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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