MINNEAPOLIS, Jan. 18, 2021 /PRNewswire/ — Vireo Health International Inc., (“Vireo” or the “Company”) (CNSX: VREO, OTCQX: VREOF), the leading physician-founded, science-focused multi-state cannabis company, today announced the appointment of Victor E. Mancebo to its Board of Directors. As Director, Mr. Mancebo will serve as an advisor to Chairman & Chief Executive Officer Dr. Kyle Kingsley as well as the Company’s executive leadership team.
Mr. Mancebo previously served as the President and Chief Executive Officer of Liberty Health Sciences, Inc. (CSE: LHS) (OTCCQX: LHSIF), a profitable vertically integrated cannabis company with 29 dispensaries and a 250,000 SQFT. production facility housed in 387 acres in Florida, which has served over 100,000 patients to date. He has nearly 20 years of experience in a variety of operational, retail, and agricultural leadership roles and is a graduate of Florida International University. Mr. Mancebo also holds a Master Black Belt in Six Sigma.
“We are delighted to welcome an accomplished leader like Victor to our Board of Directors. His track record of driving growth within the cannabis industry will be invaluable to Vireo as we continue scaling our operations nationwide,” said Dr. Kingsley. “As a board member, Victor’s contributions will help us maintain a culture of continuous improvement in our operations as we continue to expand our retail stores and manufacturing facilities.”
“I am thrilled to join Vireo’s Board of Directors at such an exciting time in the Company’s history,” said Mr. Mancebo. “Dr. Kingsley leads an impressive team of scientific, operational and cultivation experts creating best-in-class cannabis products and customer experience. Vireo possesses a remarkable portfolio of licenses, intellectual property, and retail locations across the nation. I am impressed by leadership’s strategic vision for the company and I look forward to helping the Company achieve those goals.”
About Vireo Health International, Inc.
Vireo Health International, Inc. is a physician-led cannabis company focused on bringing the best of technology, science, and engineering to the cannabis industry. Vireo manufactures proprietary, branded cannabis products in environmentally-friendly, state-of-the-art greenhouses and other facilities and distributes its products through its growing network of Green Goods™ retail locations and third-party dispensaries. Vireo’s team of more than 400 employees, led by scientists, engineers, and cultivation experts, is focused on efficiency and the creation of best-in-class products, while driving scientific innovation within the cannabis industry and developing meaningful intellectual property. Today, Vireo is licensed to grow and/or process cannabis in seven markets. The Company is operational in five of those markets – including the core markets of Arizona, Maryland, Minnesota, New Mexico, and New York. The Company holds 29 total retail dispensary licenses, of which 16 are currently open for business. For more information about Vireo Health, please visit www.vireohealth.com.
Appointment of Philip Young as CEO and director adds a seasoned executive with a track record of new device and therapeutics development, FDA/regulatory approvals, capital markets, M&A and operational success
Vancouver, British Columbia–(Newsfile Corp. – January 18, 2021) – Lobe Sciences Ltd (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce the appointment of Mr. Philip J. Young as Chief Executive Officer, Corporate Secretary and a director of the Company, effective January 15, 2021. Mr. Young replaces Thomas Baird, who resigned as CEO as of the same date.
Philip Young is an accomplished CEO and innovative professional with 25 years of expertise in senior executive management and board roles, with significant mergers and acquisitions and equity financing experience. He has a proven track record in the biotech, medtech and pharmaceutical industries with expertise in dealing with FDA/regulatory frameworks as well as new device and therapeutics development. From 2015 until 2019, Mr. Young was the Founder, Chairman, and CEO of Exactus Inc. (“Exactus“), an OTCQB listed company he successfully transitioned from a medical technology company to a farming focused hemp-derived CBD company.
Prior to Exactus, Mr. Young was the president, CEO, and Director of AmpliPhi Biosciences Corp. (now Armata Pharmaceuticals Inc.), a global biopharmaceutical company. He was also previously the President, CEO and a director of Osteologix Inc., where he was responsible for directing and managing all facets of the global pharmaceutical development company. He is the former Chief Business Officer and Executive Vice President of Insmed Inc., where he directed all financing, corporate and commercial communications activities. Prior thereto, he was the Vice President and General Manager of Neurex Corp., where he was involved with the negotiations for its US$700 million acquisition by Elan Corporation. Mr. Young holds a Bachelor’s of Science from James Madison University.
Jonathan Gilbert, Executive Chairman of Lobe, states, “We are very pleased to have Philip join our Lobe executive team. His addition is the latest in our strategy to strengthen our overall team, including recent additions to our industry renowned research and development partner, our board of directors and strategic advisors. Phil brings a wealth of experience in building companies, developing therapeutics and creating shareholder value, which is expected to support our current focus on advancing Lobe’s proprietary nasal device, furthering our pre-clinical study with the University of Miami and growing the Company through M&A. He has a demonstrated track record of senior leadership skills, capital markets acumen and FDA and regulatory experience. We will leverage these attributes as we progress with our nasal mist device engineering and overall therapeutics development initiatives involving psychedelic medicine. We are excited by his commitment to achieve the Company’s key strategic priorities.”
Philip Young states, “I look forward to working closely with Lobe’s board and executive team to grow the Company. I see great potential in the Company in this exciting and evolving industry where I can utilize both my therapeutics development/regulatory expertise and M&A experience to add value. We plan on continuing to build on Lobe’s progress made to date, in particular on the nasal device engineering and pre-clinical study with the University of Miami, as well as actively pursuing other M&A growth objectives.”
The Company also announces the grant of stock options to certain directors, officers and consultants to purchase an aggregate of 7,400,000 common shares, at a price of $0.15 per share for three years from the date of grant in accordance with and subject to the terms of Lobe’s stock option plan. 2,000,000 of the stock options are subject to vesting provisions, with 12.5% of such options vesting on the date of grant and 12.5% every quarter thereafter.
About Lobe Sciences Ltd.
Lobe is a growth-oriented research, technology & services company that provides financial, management, IP and branding support to businesses. The Company operates a portfolio of companies focused on developing transformational medicines and applies refined strategies to help partner companies reach their full potential. Based in Vancouver, BC, Lobe Sciences
creates value through acquisitions and development of assets, products and technologies by leveraging its scientific, engineering, branding and operational expertise supported by strong capital markets acumen.
After successful exits from cannabis businesses, Bartch and co-founders Rob Roscow and Damon Michaels (now chief scientific officer and COO, respectively), made a play to be first movers in psilocybin and other fungus-derived compounds when they launched Mydecine Innovations Group (CSE: MYCO; OTC: MYCOF; FSE: 0NFA) in early 2020.
“We had all recently taken exits and were looking at what was going to be the next project we were going to be working on,” says Bartch. “We started looking at fungi sources as a whole from a compound level, and what these compounds can do. It’s really incredible the number of compounds and enzymes in the fungal kingdom, and they do everything from oil remediation to plastic remediation to breaking down wood down . . . to psychedelics and mental health compounds.”
Photos courtesy Mydecine Innovations Group
“We decided to isolate the compounds in both psychedelic mushrooms and functional mushrooms and really study those in the best way and find where they’re applicable, and we came out with Mydecine Innovations Group.”
Bartch highlights three focal points for the company: developing IP; clinical research; and developing complementary technology platform, MindLeap.
Front and center: PTSD in veterans. “We chose veterans for a number of reasons,” says Bartch. “We understood the benefit of treating the veteran population. Historically speaking, veterans in clinical trials have a zero percent dropout rate. Obviously, this is very beneficial when you’re trying to derive pure data. Also, there isn’t a single pharmaceutical drug currently on the market that’s made for PTSD. Everything is made for different indications . . . and prescribed off-label for PTSD.”
“Every 72 minutes in the United States a veteran commits suicide,” he adds. “They’re prescribing them drugs — Wellbutrin, Zoloft, Prozac — that one of the main side effects is suicide. It’s very ass-backwards, it’s ineffective, it’s dangerous.”
A colonel in the Canadian Armed Forces himself, Mydecine Chief Medical Officer Dr. Rakesh Jetly has advised both NATO and the Canadian Armed Forces on mental health. “After teaming up with Rakesh, we acquired their company,” says Bartch.
Research on Mydecine’s PTSD treatments is underway. “We started launching clinical studies throughout the globe,” says Bartch, highlighting collaborations in Europe and Canada. “We’re finalizing a partnership with the USDA. We’ll be adding New York, L.A., San Diego, and Boston as VA test sites to be able to administer our Phase II clinical studies,” says Bartch. “The goal is to push the first iteration through . . . and basically make it more compatible with a therapy setting and clinical setting.”
Mydecine’s MindLeap technology platform facilitates treatment and will be part of future clinical research. “Being able to take care of the psychotherapy protocols remotely on a HIPAA-compliant app we own is obviously very advantageous for us as well as the potential patient.”
Bartch says 80 to 90 percent of a psychedelic treatment program is “psychotherapy without any sort of substance being taken at all. You have three to five preemptive, preparatory meetings talking about your goals, building a rapport with you and the psychotherapist, understanding the positives and negatives of the whole experience.”
When it comes to the “one to three macro-doses” of psychedelic compounds, he notes, “There are going to be a limited number of sites where you can administer treatment,” says Bartch. “We’re very confident that VA hospitals will be approved test sites to administer that, and in Canada, it’ll be a similar situation.”
Bartch says addiction treatment is another application, and it comes down to certain fairly universal experiences. “The barriers in your brain are dropping, and your predisposed notions are going out the window. Essentially, your brain is becoming unadulterated, allowing the psychotherapy protocols to be effective.”
Mydecine grows its source mushrooms at a facility in Jamaica. “It’s a unique situation where we can cultivate at scale a wide variety of mushrooms,” says Bartch. “For them, it’s an agricultural product. There are absolutely no illegalities at all.”
The company is able to transfer material to partners via a reciprocal license at the University of Alberta in Canada. “We can legally export out of Jamaica and we can legally receive at our cGMP pharmaceutical manufacturing plant at a research facility at the University of Alberta,” says Bartch. “University of Alberta is top 50 in the world for pharmaceutical drug discovery.”
That makes for a turnkey operation for licensed customers engaged in psilocybin research: “We can take it from A to Z, from start to finish.”
With a scientific board of 35 supporting a staff of about 20 employees, the company operates a 7,500-square-foot specialty mycology lab in Denver. “That is where we isolate the compounds in functional [non-psychedelic] mushrooms,” says Bartch. “These are mushrooms that are well-known in consumer packaged goods lines.”
Ultimately, the goal is to develop more efficient methods to produce the isolated compounds at a commercial scale. “We like to call it functional mushrooms 2.0,” says Bartch. “We develop the IP set around to license it to consumer packaged goods companies.”
Bartch says co-founder Roscow was on the bleeding edge of cannabis genetics research for ebbu, which was acquired by Canopy Growth in 2018. “They were really the first to discover CBN, CBG, unique tryptamines and compounds that are now widely known,” says Bartch. “Rob is one of the smartest people you will find on the planet. . . . He very much preferred a startup’s free rein in terms of being able to create.”
The co-founders see a white space in fungi not dissimilar to cannabis a decade ago. “A lot of research needs to be done, but that’s what we set out to do,” says Bartch. “If you look at shamanistic practices over the years, in many cases they have five different types of mushroom varieties and they use them for very different things. What that tells you is, just logically, is that there’s much more going on than just psilocybin in these mushroom varieties. Keeping that same kind of notion for us and our science team, we want to understand it very much like they did at ebbu. What else is going on there? What we’re finding is there’s a ton of unclassified , very active tryptamines that are working either synergistically or against each other. We don’t really know, but were quickly finding out.”
“We’re identifying, isolating, classifying, synthesizing these molecules,” he adds. “Once you can understand the whole picture, then you can pick and choose like a sound board if you will of which ones you want to use together to hopefully create the perfect outcome, and that is very patentable.”
Challenges: “Obviously, the pandemic is a challenge,” says Bartch, noting it made collaborating with various higher education institutions difficult if not impossible to launch clinical trials.
“Public acceptance is one of our greatest hurdles,” he adds. “People are so stuck in their ways of taking pharmaceutical drugs — a pill will fix everything, even though it’s incredibly dangerous and incredibly ineffective, and what we’re offering is a non-invasive, non-addictive substance that has in many cases 70 to 80 percent success rate off of one to three treatments with no known side effects.”
“Just because of the positioning of psychedelics throughout history, these people think if they take mushrooms, they’re going to think they’re an orange for the rest of their life and never come out of it. That’s simply not true. Administered properly, these are very safe and effective treatments.”
Opportunities: Millions suffer from PTSD and addiction, but treatment options are limited, says Bartch. “Obviously, addiction and PTSD run hand in hand, but are both very, very large populations.”
Providing materials for licensed researchers all over the world is another opportunity: “We can provide at-scale, cGMP psilocybin that is both synthesized and naturally derived . . . human use at the end of Q1 [2021],” says Bartch. “We’ll be able to provide it significantly cheaper than what is out there right now.”
Needs: Talent, Bartch anticipates a capital raise in Q1 2021 and 10 to 20 new hires by early 2022.
A profile boost is another big need. “We need support — people getting behind our message and behind our vision and really listening to our educational tools,” says Bartch. “We do a Mydecine Speaker Series. This is a free event where we bring our scientific advisory board and medical advisory board members, some of the top researchers in the world, and it’s an open forum and a live, hour-and-and-a-half event.”
“The goal is to spread awareness about our cause and psychedelics as a whole and psychedelics and psychotherapy as a whole, and spread the awareness that this is a new wave, and it’s not the bogeyman and it’s a very effective treatment that the mainstream should really adopt.”
Bartch concludes, “We need people to tune in and be open to something that’s against the norm.”
January 15, 2021 – Toronto, Ontario – Greenbrook TMS Inc. (TSX: GTMS) (“Greenbrook” or the “Company”) announced today that Mr. Stephan Roker has provided notice of his intention to resign as a director of the Company, effective today, citing the existence of previously unforeseen conflicts of interest as the reason for his resignation.
About Greenbrook TMS Inc.
Operating through 125 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 510,000 TMS treatments to over 14,000 patients struggling with depression.
For further information please contact:
Glen Akselrod Investor Relations Greenbrook TMS Inc.
1169082 B.C. Ltd. is pleased to announce that it has entered into a non-binding letter of intent with Awakn Life Sciences Inc., whereby 1169082 B.C. Ltd. and Awakn have agreed to negotiate exclusively in respect of a transaction to combine their respective businesses. The Proposed Transaction will be structured following the review and consideration by the parties of applicable tax, securities, corporate law, and other relevant considerations and shall be subject to standard closing conditions, including receipt of any required regulatory or shareholder approvals.
In conjunction with the Proposed Transaction, 1169082 B.C. Ltd. and Awakn intend to jointly apply to the NEO Exchange for the listing of the common shares of the resulting issuer. Such a listing would be subject to the approval of the NEO Exchange and the satisfaction by the resulting issuer of the NEO Exchange’s listing conditions.
Vancouver, British Columbia, Canada – January 15, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or “Core One”) is pleased to announce that further to its October 30, 2020 press release, the Company has completed the sale of certain of its non-core assets and subsidiaries in California for CAD$3,000,000 plus the assumption of approximately USD$4,000,000 in related liabilities.
The completion of this sale allows the Company to focus its core business on the continued development of psychedelic alternative medicines and experiential therapies, and its CannaStripTM delivery technology.
The Company’s goal is to use its proprietary technologies to advance natural-based medicines for the treatment of mental health illnesses and addiction. Core One’s team of leading scientists, specializing in protein expression and biosynthetic fermentation, have developed a patentable method of producing psilocybin that will afford the Company the ability to manufacture consistent high-quality GMP API psilocybin at scale, and provide pharmaceutical companies, API manufacturers and medical research organizations conducting clinical trials, access to product at a significantly lower cost than other psilocybin-producing companies.
In consideration for the acquisition of the Assets (as defined below), the purchaser will complete a series of cash payments to the Company totaling CAD$3,000,000 and will assume responsibility for all outstanding liabilities and obligations of Reveur Holdings Inc., Core, CSPA, LDS Agrotech Inc., LDS Scientific Inc., Agrotech LLC and LDS Development Corp., including all continuing employment obligations and certain additional liabilities of the Company associated with these assets. The total value of the assumed liabilities is approximately USD$4,000,000.
The assets being sold are composed of the following:
all of the issued and outstanding share capital of Rêveur Holdings Inc. (“Rêveur”), a California corporation, including its principal assets which are all of the issued and outstanding share capital of Core Isogenics Inc. (“Core”), a California corporation, and CSPA Group, Inc. (“CSPA”), a California corporation;
all of the issued and outstanding share capital of LDS Agrotech Inc. (“AgroCo”), a Nevada corporation, held by Core One which represents 75% of the outstanding share capital of AgroCo;
all of the issued and outstanding share capital of LDS Scientific Inc. (“SciCo”), a Nevada corporation, held by Core One which represents 75% of the outstanding share capital of SciCo;
the membership interest in Agrotech LLC (“AgroLLC”), a California limited liability company, held by Core One which represents a fifty percent 50% membership interest in AgroLLC;
all of the issued and outstanding share capital of LDS Development Corporation (“DevCo”), a California corporation, except for all tangible and intangible assets of DevCo related to the manufacturing and distribution of “CannaStrips” including all associated intellectual property and manufacturing equipment (the “Excluded Assets”); and
all tangible and intangible assets currently being held by and utilized by Rêveur, Core, CSPA and DevCo, including, without limitation, all existing contracts, leases, client files, client billing records, vendor records, furniture, fixtures, equipment, employee files, employee time records, and other information customary for the cultivation, manufacturing and distribution of cannabis and cannabis related products, but excluding the Excluded Assets.
(collectively, the “Assets”)
“The completion of this sale eliminates monthly expenses related to the operation in Adelanto, California and provides the Company with increased working capital. This increased working capital will allow us to focus resources on the development of psychedelics as alternative medicines, which we believe will have a significant and positive impact on the future of those suffering from mental illness and addictions.” stated Joel Shacker CEO of the Company.
In connection with the completion of the Asset sale, the Company has issued 350,000 common shares to two arms-length third-parties who assisted with facilitating such sale. These shares will be subject to a hold period of four months and one day.
Also in connection with the divestment of the Adelanto assets, the Company announces the resignation of Mr. Casey Fenwick as President of Core One. The Company wishes to thank Mr. Fenwick for his service, and much success in his future endeavours.
The Company further announces that it intends to settle $74,000.00 in outstanding indebtedness to an arms-length party through the issuance of 88,095 common shares at a price of $0.84 per share. The shares issued under the debt settlement will be subject to a hold period of four months and one day from the date of issuance.
Finally, the Company announces that it intends to grant up to 6,720,000 incentive stock options (the “Options”) to certain directors, officers, employees and consultants of the Company. The Options are exercisable at a price of $1.05 for a period of three years from the date of grant. The Company’s Stock Option Plan governs these incentive options, as well as the terms and conditions of their exercise, which is in accordance with policies of the Canadian Securities Exchange.
About Core One Labs Inc.
Core One Labs Inc. is a research and technology company focused in life sciences and on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. The Company has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. With this technology, the Company intends to further develop its IP technology to focus on delivering psychedelic molecules with an initial focus on psilocybin. Core One also holds an interest in walk-in medical clinics which maintain a database of over 200,000 patients combined. Through research and development in these clinics, including the integration of its intellectual property related to psychedelic treatments and novel drug therapies, the Company intends to work towards regulatory approval for research that advances psychedelic-derived treatments for mental health disorders.
Core One Labs Inc.
Joel Shacker
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
info@core1labs.com
1-866-347-5058
Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription. Health Canada has not approved psilocybin as a drug for any indication. Core One Labs Inc. does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One Labs Inc. believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One Labs Inc. does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.
TORONTO, Jan. 14, 2021 /CNW/ – NEW WAVE HOLDINGS CORP. (the “Company” or “New Wave”) (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNF) an investment issuer that provides capital and support services, is pleased to announce its launch of high quality new functional mushroom wellness collection under Way of Will Inc.
New Wave Holdings Logo (CNW Group/New Wave Holdings Corp.)
WAY OF WILL Joins the ‘Shroom Boom’ with High Quality Functional Mushroom Wellness Collection
Known and loved for their wellness formulas that incorporate natural plant-based ingredients, WAY OF WILL is pleased to announce an upcoming launch of a new product line featuring one of nature’s best ingredients: mushrooms. As part of a recent acquisition by New Wave, one of the primary goals is to make WAY OF WILL a more well-rounded and holistic company, beginning with the integration of functional mushrooms into the existing health and wellness product line.
This exciting new Functional Mushroom Collection will contain products that can be categorized into five different health and wellness subcategories. This includes:
An Antioxidant Blend for better overall skin heath
An Immunity Blend that promotes overall immunity health
A Brain Function Blend to help combat stress and increase brain function
An Energy Blend that gives a mental and mood boost
An Adaptogen Blend that promotes sleep and relaxation
Some of the functional mushroom varieties that can be found in the new products include Lion’s Mane, Reishi, Cordyceps, and Chaga. Each ingredient in the functional mushroom blends is carefully selected for their powerful and nutritional benefits, as well as their effectiveness in providing a natural way to maintain one’s health and wellness. WAY OF WILL has been working closely with experts and pioneers in the field to formulate new products based on the five functions in the collection.
While WAY OF WILL’s current array of aromatherapy products already focuses on benefits highlighted in the five categories listed above, the new collection will allow the trusted brand to offer a broader selection of natural wellness products to consumers.
“Our culture at WAY OF WILL is to create the highest quality plant-based nutraceuticals in the aromatherapy space,” said Willie Tsang, founder and CEO. “After countless months of hard work, we are excited to soon be able to offer new products to customers that utilize an assortment of functional mushrooms, which has been a well-loved ingredient in skincare and wellness.”
The development of this product line came after conducting extensive email surveys on current and projected market demands. Since then, multiple key chain buyers have already expressed interest in this new collection.
The products in this new line will be manufactured with our U.S. and Canadian partners. It is anticipated that the collection will leverage WAY OF WILL’s ecommerce expertise along with established relationships with wholesale partners and manufacturing partners.
This is the beginning of WAY OF WILL’S journey into the expansion of the functional mushroom product category. The Mushroom Collection is expected to launch mid-March this year.
ABOUT NEW WAVE HOLDINGS CORP.
New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTCPK: TRMNF) is an investment issuer focused on the burgeoning psychedelic sector and support for adaptive and progressive mental health products and therapies. In the psychedelic sector, New Wave will focus on supporting research on active psychedelic compounds, creation of consumer products based on functional mushrooms, and developing an IP portfolio focusing on psilocybin, LSD, MDMA, and ketamine derived treatments for neuropsychiatric diseases. New Wave also contains various health and beauty products within its portfolio of non-psychoactive plants and fungi as it continues to expand its product distribution through vertical integration to provide end to end solutions while capturing a high margin business model.
Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com
Information relating to WAY OF WILL INC., contained in this news release was provided by WAY OF WILL INC. and/or its agent and has not been independently verified by the Company. The Company does not take responsibility for the accuracy of such information.
The CSE has not in any way passed on the merits of the Acquisition, and neither has approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING INFORMATION DISCLAIMER
Certain statements contained in this news release may constitute forward–looking information, including but not limited to, applicable regulatory approval in connection with the Acquisition, the closing of the Acquisition, expansion of operations, size and quality of future tournaments and projections regarding attendance at future events. Forward–looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward–looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company’s actual results could differ materially from those anticipated in this forward–looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward–looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
DENVER, Jan. 14, 2021 /CNW/ – Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, is pleased to announce that it has agreed to increase the size of its previously announced bought deal financing led by Canaccord Genuity Corp. (“Canaccord Genuity” or the “Underwriter”). Canaccord Genuity has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 30,000,000 units of the Company (the “Units”) at a price of C$0.50 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of C$15,000,000 (the “Offering”).
Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) for a period of 36 months following the Closing Date at an exercise price of $0.70 per Warrant Share.
The Company has granted the Underwriter an option (the “Over-Allotment Option”) to purchase up to an additional 4,500,000 Units at the Issue Price for a period of 30 days following the Closing. If the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be C$17,250,000.
The Company plans to use the net proceeds of the Offering to invest in additional clinical trials, for expansion of its intellectual property portfolio, continued development of its drug pipeline, expanded research and development partnerships and initiatives and for general working capital purposes.
The Units will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on February 3, 2021 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities. The Company will use best efforts to obtain the necessary approvals to list the Common Shares and the Warrants on the Canadian Securities Exchange.
The Underwriter shall be paid a cash commission equal to 7.0% of the aggregate gross proceeds of the Offering payable in cash or Units, or any combination of cash or Units at the option of the Underwriter, and warrants (the “Underwriter’s Warrants”) exercisable at any time prior to the date that is 36 months from the Closing Date to acquire that number of Units which is equal to 7.0% of the aggregate number of Units issued pursuant to the Offering, at an exercise price equal to the Issue Price. Additionally, the Company shall pay the Underwriter a corporate finance fee equal to that number of Units which is equal to 2.5% of the aggregate number of Units issued pursuant to the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Mydecine Innovations Group Mydecine Innovations Group™ (CSE: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.
At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.
For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions, and which may include, but are not limited to, statements with respect to the expected Closing date of the Offering, the listing of the Common Shares and Warrant Shares on the Canadian Securities Exchange, the use of proceeds of the Offering, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVD-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy 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. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.
DENVER, Jan. 14, 2021 /CNW/ – Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (“Canaccord Genuity” or the “Underwriter”), pursuant to which Canaccord Genuity has agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 20,000,000 units of the Company (the “Units”) at a price of C$0.50 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of C$10,000,000 (the “Offering”).
Each Unit will be comprised of one common share in the capital of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) for a period of 36 months following the Closing Date at an exercise price of $0.70 per Warrant Share.
The Company has granted the Underwriter an option (the “Over-Allotment Option”) to purchase up to an additional 3,000,000 Units at the Issue Price for a period of 30 days following the Closing. If the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering will be C$11,500,000.
The Company plans to use the net proceeds of the Offering to invest in additional clinical trials, for expansion of its intellectual property portfolio, continued development of its drug pipeline, expanded research and development partnerships and initiatives and for general working capital purposes.
The Units will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on February 3, 2021 (the “Closing Date”), and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities. The Company will use best efforts to obtain the necessary approvals to list the Common Shares and the Warrants on the Canadian Securities Exchange.
The Underwriter shall be paid a cash commission equal to 7.0% of the aggregate gross proceeds of the Offering payable in cash or Units, or any combination of cash or Units at the option of the Underwriter, and warrants (the “Underwriter’s Warrants”) exercisable at any time prior to the date that is 36 months from the Closing Date to acquire that number of Units which is equal to 7.0% of the aggregate number of Units issued pursuant to the Offering, at an exercise price equal to the Issue Price. Additionally, the Company shall pay the Underwriter a corporate finance fee equal to that number of Units which is equal to 2.5% of the aggregate number of Units issued pursuant to the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Mydecine Innovations Group Mydecine Innovations Group™ (CSE: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.
At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.
For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions, and which may include, but are not limited to, statements with respect to the expected Closing date of the Offering, the listing of the Common Shares and Warrant Shares on the Canadian Securities Exchange, the use of proceeds of the Offering, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVD-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy 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. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.
There always is some level of trial and error in finding the correct treatment for patients suffering post-traumatic stress disorder (PTSD).
Often patients can go through multiple iterations before finding the right treatment option, highlighting the need to expand the treatment pool.
One potential option could be psychosubstances.
In a new study, researchers are testing low-dose psychosubstances to treat veterans with PTSD, believing psychedelic substances could help these patients manage some of their symptoms of depression and anxiety.
In an interview with HCPLive®, Rakesh Jetly, MD, Head of the Center of Excellence on Mental Health, explained the parameters of the phase 2 study and how he believes the research is on the cutting edge of a breakthrough treating trauma.
He said a major problem in PTSD and psychiatry in general is the amount of patients who do not respond to first line treatments, taking valuable treatment time finding the correct medication. He said approximately half of this patient group does not respond to first-line therapies.
Jetly, who is a military psychiatrist, has committed to finding evidence-based treatments for combat veterans early in his career, but within the last decade has begun to think out of the box for other treatments.
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