Posted on

Vireo Health Announces Closing of Previously Announced Divestiture of Pennsylvania Dispensary Solutions

MINNEAPOLIS, Dec. 21, 2020 /PRNewswire/ — Vireo Health International, Inc. (“Vireo” or the “Company”) (CNSX: VREO, OTCQX: VREOF), the science-focused, multi-state cannabis company with licenses in six states and the Commonwealth of Puerto Rico, today announced that the sale of its former subsidiary, Pennsylvania Dispensary Solutions, LLC, to a subsidiary of Jushi Holdings, Inc. (“Jushi”) (CSE: JUSH, OTCMKTS: JUSHF) closed on December 18, 2020. The transaction resulted in cash proceeds to Vireo of approximately $5.7 million.

Vireo Logo (PRNewsfoto/Vireo Health, Inc.)

Chairman and Chief Executive Officer, Dr. Kyle Kingsley commented, “We are pleased with the continued progress of our core market strategy and the improved strength of our balance sheet, and we’re looking forward to performance contributions from our recently completed capacity expansion projects and new retail store openings. We continue to see significant opportunities to improve revenue growth and profitability in our core markets and remain committed to being strong stewards of capital for our shareholders while executing against our growth and profitability initiatives.”

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 dispensaries and through hundreds of third-party dispensaries in seven states. 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 six 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 13 are currently open for business. For more information about Vireo Health, please visit www.vireohealth.com.

Media Inquiries

Investor Inquiries

Albe Zakes

Sam Gibbons

Vice President, Corporate Communications

Vice President, Investor Relations

albezakes@vireohealth.com

samgibbons@vireohealth.com  

(267) 221-4800

(612) 314-8995

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/vireo-health-announces-closing-of-previously-announced-divestiture-of-pennsylvania-dispensary-solutions-301197080.html

SOURCE Vireo Health International, Inc.

Posted on

Wuhan General Group Updates on Second Scientific Paper Published on Psychedelics

CAPE TOWN, SA / ACCESSWIRE / December 21, 2020 / WUHAN GENERAL GROUP, INC. (OTC PINK:WUHN) (“Wuhan” or the “Company”), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is pleased to announce the following corporate update:

The research team funded by Wuhan General Group has successfully published a second paper on psychedelic science. This paper is entitled “Effects and safety of Psilocybe cubensis and Panaeolus cyanescens magic mushroom extracts on endothelin-1-induced hypertrophy and cell injury in cardiomyocytes” and has been released on the Nature Research platform. (the first published paper can be found here)

The following is an excerpt from the newly published study: “Study investigates the effects and safety of Psilocybe cubensis and Panaeolus cyanescens magic mushrooms use from genus Psilocybe and Panaeolus respectively, in a pathological hypertrophy conditions in which endothelin-1 disorder is a contributor to pathogenesis. Results proposed that the water extracts of Panaeolus cyanescens and Psilocybe cubensis did not aggravate the pathological hypertrophy induced by endothelin-1 and also protected against the TNF-α-induced injury and cell death in concentrations used. Results support medicinal safe use of mushrooms under controlled conditions and cautioned use of higher concentrations. ”

“This is another great milestone for the company as the findings are very significant to psychedelic research. The research team led by Sanah M. Nkadimeng is making a lot of notable progress in bringing psychedelics to the forefront of medicine. Stay tuned, so much more exciting and useful science to share very soon,” said Wuhan General Group CEO Jeff Robinson.

About Wuhan General Group, Inc./ M2Bio Sciences, Inc

Wuhan General Group, Inc. (DBA M2bio Sciences), through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™ and Handcrafted Delights™ brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol “WUHN”.

For further information:

Publicly traded company (OTC Pink:WUHN)
Website: www.m2bio.co
E-mail:info@m2bio.co
Follow us on Twitter: https://twitter.com/m2bio
Follow us on Facebook: http://www.facebook.com/m2bio

Forward-Looking Statements:

Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

SOURCE: Wuhan General Group, Inc./M2Bio Sciences, Inc.

View source version on accesswire.com:
https://www.accesswire.com/621814/Wuhan-General-Group-Updates-on-Second-Scientific-Paper-Published-on-Psychedelics

Posted on

PharmaTher Signs LOI to Sell Psilocybin Program to Revive Therapeutics

TORONTO, Dec. 21, 2020 (GLOBE NEWSWIRE) — PharmaTher Inc., (“PharmaTher” or the “Company”), a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM) (OTC Pink: PHRRF) and a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”), dated December 20, 2020, to sell the full rights to PharmaTher’s intellectual property (the “Acquired Assets”) pertaining to psilocybin (the “Acquisition”) to Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF).

PharmaTher is focusing on its lead clinical studies with ketamine for U.S. Food and Drug Administration (“FDA”) approvals in Parkinson’s disease, depression and pain.

“We have built a diverse intellectual property portfolio of novel uses and FDA-approved drug combinations of psilocybin for neurological disorders for a strategic partner such as Revive, which has committed to developing novel psilocybin formulations, to unlock value of the psilocybin program for the long-term,” said Fabio Chianelli, CEO of PharmaTher. “With the proposed sale of our psilocybin program we will be able to dedicate resources to our core clinical-stage product pipeline of FDA-approved ketamine to treat neurological disorders, such as Parkinson’s disease, depression and pain towards FDA Phase 2 clinical trials.”

​The Acquired Assets to Revive will include all of the following PharmaTher’s psilocybin program:

  • all intellectual and work property derived from PharmaTher’s pre-clinical research activities in traumatic brain injury and stroke, with the aim to obtain U.S. Food and Drug Administration (“FDA”) Orphan Drug Designation;
  • all intellectual property portfolio covering neurological disorders, cancers and novel combinations of psilocybin and FDA approved drugs;
  • all intellectual and work property derived from the study being currently undertaken by the National Health Research Institute in Taiwan; and
  • key provisional patent applications with the U.S. Patent and Trademark Office, which include:
    • Psilocybin in the Treatment of Neurological Brain Injury – United States Provisional Application Serial No. 63/011,493 – Relates to pharmaceutical compositions comprising psilocybin and their use for the treatment of neurological brain injuries and migraines.
    • Use of Psilocybin in the Treatment of Cancer, United States Provisional Application Serial No. 63/113,913 – Psilocybin’s use of significant unmet medical needs for Liver Carcinoma, Melanoma, Breast Neoplasms, Kidney Neoplasms and Acute Myeloid Leukemia.
    • Psilocybin Pharmaceutical Combination Therapies, United States Provisional Application Serial No. 63/125,106 – Novel combinations of certain FDA approved drugs with psilocybin as a potential therapeutic option to reduce the side effects and improve the effectiveness of psilocybin to treat neurological disorders.
“Our psychedelics pharmaceutical program has been predominantly focused on the development and evaluation of our novel orally dissolvable thin film strip for psilocybin, and with the acquisition of PharmaTher’s proprietary psilocybin platform it will complement our objectives in commercializing a unique prescription-based psilocybin product for neurological disorders and FDA orphan drug indications,” said Michael Frank, CEO of Revive.

The Acquisition follows the previously announced exclusive research collaboration agreement with Revive to accelerate the development of psilocybin in the treatment of cancer and the discovery of novel uses of undisclosed psychedelic compounds.

The final terms of the Acquisition will be agreed to by the parties after the completion of due diligence by Revive. The Acquisition is expected to close on or before January 31, 2021, subject to customary closing conditions, including but not limited to, the negotiation and execution of a definitive agreement.

The Company cautions that psilocybin is still under early-stage research and development and is not making any express or implied claims as to their success alone and in combination of FDA approved drugs in the treatment of neurological diseases or commercial viability.

​About Revive Therapeutics Ltd.
Revive is a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its recent acquisition of Psilocin Pharma Corp., Revive is advancing the development of Psilocybin-based therapeutics in various diseases and disorders. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of Cannabidiol

(CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation. For more information, visit www.ReviveThera.com.

About PharmaTher Inc.
PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital Corporation (CSE: PHRM) (OTC Pink: PHRRF), is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals. PharmaTher discovers novel uses of psychedelic pharmaceuticals, such as ketamine and psilocybin, and combinations with FDA-approved drugs for FDA approval to treat neurological disorders, such as Parkinson’s disease and movement disorders, depression and pain.
​
​Learn more at:  PharmaTher.com and follow us on Twitter, LinkedIn and Facebook.

​For more information, please contact:        
Fabio Chianelli
Chief Executive Officer
PharmaTher Inc.
Tel: 1-888-846-3171
Email: info@pharmather.com
Website: www.pharmather.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “potential” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Newscope Capital Corporation’s (the “Company) current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this press release includes information with respect to the LOI with Revive for the sale of PharmaTher’s psilocybin program, development and commercialization of psilocybin and ketamine and FDA-approved drug combinations for neurological disorders, such as Parkinson’s disease and movement disorders, depression and pain, FDA approval, intellectual property portfolio, psychedelic pharmaceuticals, Ketamine, Psilocybin and combinations with FDA approved drugs, psilocybin and ketamine programs and product developments. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated 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 laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the period of August 30, 2020 (“MD&A”), dated October 1, 2020, which is available on the Company’s profile at www.sedar.com.
​
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

Posted on

2020: A Year In Review for the Psychedelic Renaissance

Published at Microdose.com.

‍

By Gaurav Dubey

‍

2020 has indeed brought forth unforeseen challenges into the world due to the global coronavirus pandemic. However, this year has also seen monumental victories for psychedelic medicine–a radical new hope for a brighter future. The current state of mental healthcare, which has been starkly exposed due to the pandemic, is seriously insufficient.There is a significant need for new and better mental health treatments now more than ever before.

Fortunately, between the groundbreaking clinical research into psychedelic medicine at leading universities and institutions and the incredible amount of capital flowing into the space, one thing is clear: psychedelics are making a massive comeback. Here are some of the major highlights and victories witnessed by the psychedelic renaissance in this otherwise challenging year.

psychedelic renaissance research development science
psychedelic renaissance research development science
psychedelic renaissance research development science

Groundbreaking Research Into Psychedelic Medicine Pushes Policy Reform Ahead

2020 Has Been A Really Big Year for Magic Mushrooms

Robust clinical research has been the backbone of the modern psychedelic renaissance, and 2020 certainly had its share of exciting developments here. Leading institutions such as Johns Hopkins, NYU and the Imperial College of London have conducted historic trials demonstrating the efficacy of drugs like psilocybin, the active ingredient in magic mushrooms, for end-of-life anxiety and severe treatment resistant depression.

Fascinating research by renowned scientists like Robin Carhart Harris utilizes fMRI technology to uncover the mysterious mechanisms in the brain that characterize the beneficial effects of psilocybin therapy. The below diagram by Carhart-Harris shows increased brain connectivity and communication while under the influence of magic mushrooms and has become a hallmark of psychedelic science in 2020.

this is your brain on mushrooms robin carhart harris psilocybin brain connectivity

Communication between brain networks in people given psilocybin (right) or a non-psychedelic compound (left).

The dynamic group at Mydecine, which includes Carhart-Harris and Dr. Rakesh Jetly, are also spearheading trials investigating psilocybin for PTSD in veterans. Their recent speaker series featured their all-star science team and explored many of these important topics.

Such trials have been so profound that earlier this year, Canada’s Health Minister Patty Hajdu, in response to Therapsil’s advocacy efforts, approved the first four Canadian’s for psilocybin assisted psychotherapy. This has since been expanded to include non-terminally ill Canadian patients–-a genuine testament of Hajdu’s dedication to progressive drug policy. Canada isn’t the only one embracing psychedelics, however.

The state of Oregon recently made history by legalizing psilocybin assisted psychotherapy and decriminalizing small amounts of all drugs. This is a huge move by Oregon that sets a strong precedent for other states in the US who also wish to embrace and reintegrate psychedelics into society.

psychedelic renaissance research development science

MAPS Successful Trials Mean MDMA Assisted Psychotherapy is on the Horizon

The Multidisciplinary Association of Psychedelic Studies, also known as MAPS, have spearheaded trials investigating MDMA-assisted psychotherapy for PTSD with remarkable success. After raising $30 million in non-profit donations for these trials, they are now currently in phase 3 trials and have paired with the team at Numinus to help bring the treatment to market. Their partnership with Numinus aims to expand upon the phase 3 trials going on in the US by conducting trials in Canada if they gain approval. MDMA has now received “breakthrough therapy” status by the FDA, allowing its trials to be expedited. In a time where traditional mental health treatments are failing, this is hugely significant. As this important data continues to pour out of the world’s top research institutions, drug policy is expected to continue to align with science and data.

psychedelic renaissance research development science

Great Minds Connected Despite Lockdowns to Share Big Ideas

While the lockdown may have kept us indoors, that didn’t stop the psychedelic community from virtually connecting and sharing big ideas. In fact, Microdose, in conjunction with The Conscious Fund, hosted the world’s largest virtual psychedelic conference in April, shortly after lockdowns began. The Microdose team carried this momentum into future events, including their monthly Psychedelic Capital conference series and their insightful molecular masterclasses, such as The Ketamine Conference and The Mushroom Conference.

By convening the most influential voices in the field of psychedelic medicine, Microdose helps foster communication and creativity in this emerging space. Event sponsors included major players in the space, including MagicMed Industries, Psygen, The Wake Network and many more.

Despite global lockdowns preventing live conferences, the psychedelic community took the internet by storm to share ideas and spark important conversations. Indeed, the public is becoming increasingly interested in the promise of these powerful medicines. Additionally, investor interest is at an all time high, with major financings and deals in the sector.

psychedelic renaissance research development science

Psychedelics Are Winning Big With Major Players Drawing Serious Investment Interest

Money tends to follow efficacy in biotech and pharmaceutical investing, and psychedelics have certainly exhibited incredible efficacy. Indeed, 2020 has witnessed several companies IPO, crazy stock surges and some major financings. In fact, in just the last week, psychedelic company MindMed upsized to an $80 million bought deal, MagicMed Industries closed an upsized $8.1 million dollar deal, and Tryp Therapeutics has launched their IPO and are now trading on the Canadian Stock Exchange (CSE: TRYP).

Billionaire Peter Thiel-backed psychedelic pioneers, Compass Pathways (NASDAQ: CMPS), were the first psychedelic company to debut on the NASDAQ this year. They are certainly leaders in the space and have helped establish a powerful precedent for psychedelic medicine. Additionally, their immense commitment to research is a powerful indicator of their teams success.

All signs certainly point towards a bright and lucrative future for psychedelic medicine and the companies leading the charge.

psychedelic renaissance research development science

Celebrating and Thanking the Forerunners of Psychedelic Medicine

2020 has seen an enormous amount of headlines, clinical breakthroughs, and financial successes within the psychedelic medicine field. Likewise, this year has seen a dramatic increase in event attendees, investor capital, and general indicators of mainstream curiosity. That being said, we ought to enter the new year in gratitude for those who positioned us to have these conversations. Thank you to Imperial College London, John Hopkins, NYU, Drug Science, and all the other organizations who fought this decade-plus uphill battle for us. Thank you Matthew W. Johnson, Rolland R. Griffiths, David Mokler, Robin Carhart Harris, and all the researchers dedicating their lives to understanding the gnosis of these compounds. Let’s end this year and begin the new one with an emphasis on the working class, corporate social responsibility, and evidence-based exploration of psychoactive drugs.

‍

Posted on

Can psychedelics bring out trauma from the unconscious mind?

What psychedelics taught me about healing trauma

The psychedelic treatment revolution is shifting the model of psychiatry away from daily medication for mental health treatment, according to psychiatrist Dr. Craig Heacock. Heacock believes that mental health issues like depression, anxiety, addiction, and PTSD “are more often than not tied to a deep, and largely untouchable, river of trauma that lies beneath our reach in the unconscious mind”. Psilocybin therapy is proving to be an effective treatment option because it brings deeply repressed trauma to the surface so that patients can “begin to rework and reframe their experience without fear”.

PDF of article

Posted on

TRYP THERAPEUTICS BEGINS TRADING ON THE CANADIAN SECURITIES EXCHANGE

La Jolla, CA – December 18, 2020 – Tryp Therapeutics Inc. (“Tryp” or the “Company“) (CSE: TRYP) is pleased to announce that the Company’s common shares have commenced trading on the Canadian Securities Exchange (“CSE”) under the symbol “TRYP” effective December 18, 2020.

James Kuo, MD, CEO states, “Trading on the CSE is a significant milestone in Tryp’s mission to transform the treatment of neuropsychiatric diseases with safe and effective psychedelic medicines.  All of the drugs within our portfolio have well characterized safety profiles including our drug candidate for soft tissue sarcoma, which has been in multiple phase 2 clinical trials.”  We are looking forward to utilizing the experience and dedication of our management team to build a strong, innovative, clinical stage biotech company.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare diseases and other diseases with high unmet medical needs.  Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN™, program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders.  Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States.

In addition to its PFN™ Program, Tryp is developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.  Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children.  Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.

Contact: 

Tryp Therapeutics Inc.
James Kuo, MD – Chief Executive Officer
W: www.tryptherapeutics.com  

For inquiries please contact us at:
T:  1-833-811-TRYP (8797)
E: investors@tryptherapeutics.com

Forward-Looking Information

Certain information in this news release, including statements Tryp’s TRP-1001 qualifying for Orphan Drug Status, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Company’s final prospectus dated December 8, 2020 available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.

Posted on

HAVN LIFE SCIENCES FILES PRELIMINARY PROSPECTUS IN CONNECTION WITH BOUGHT DEAL EQUITY FINANCING

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

December 18, 2020 – Vancouver, BC – Havn Life Sciences Inc. (CSE : HAVN) (FSE : 5NP) (the “Company” or “Havn Life”) is pleased to announce, further to its previously announced offering (the “Offering”) on December 15, 2020, that it has filed a preliminary short form prospectus (the “Preliminary Prospectus”) with the securities commissions or similar authorities in each province of Canada, other than Quebéc.

Pursuant to the underwriting agreement between the Company and Eight Capital (the “Underwriter”), the Underwriter has agreed to purchase 9,346,000 units of the Company (the “Units”), on a “bought deal” basis, at a price per Unit of CAD$1.07 (the “Issue Price”) for gross proceeds of CAD$10,000,220. The Company has also granted the Underwriter an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following closing of the Offering. If this option is exercised in full, an additional CAD$1,500,033 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be CAD$11,500,253.

Each Unit will be comprised of one common share of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Share at an exercise price of CAD$1.34, for a period of 36 months following the closing of the Offering.

The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.

The Offering is scheduled to close on or about January 7, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or under any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of a U.S. person (as defined in the U.S. Securities Act) or a person in the United States, absent registration or an applicable exemption from the registration requirements thereunder. This press release shall 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.

The Preliminary Prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each province of Canada, other than Quebéc. The Preliminary Prospectus is still subject to completion or amendment. A copy of the Preliminary Prospectus can be obtained under the Company’s corporate profile on SEDAR at www.sedar.com. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final short form prospectus has been issued.

On Behalf of The Board of Directors
Tim Moore
Chief Executive Officer

About Havn Life Sciences Inc.

Havn Life Sciences is a Canadian biotechnology company pursuing standardized extraction of psychoactive compounds, the development of natural healthcare products, and innovative mental health treatment to support brain health and enhance the capabilities of the mind. Learn more at: havnlife.com and follow us on Facebook, Twitter, Instagram and Youtube.

Connect

Investor Relations
ir@havnlife.com
604 (687)-7130

Facebook: @havnlife
Twitter: @havnlife
Insta: @havn.life
LinkedIn: @Havn Life

Media Contact
Brittany@exvera.com
778-238-6096

Posted on

Wuhan General Group Expands into UK Market with Medspresso

CAPE TOWN, SA / ACCESSWIRE / December 18, 2020 / WUHAN GENERAL GROUP, INC. (WUHN) (“Wuhan” or the “Company”), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is pleased to announce the following corporate update:

The Company is set to expand into the European market with its recently launched Medspresso™ line of CBD infused hot beverages. Medspresso™ is a premium functional beverages brand that encompasses a current product line of CBD-infused African coffees, teas and hot chocolates. The recent launch in early November has drummed up numerous inquiries from around the globe. The company is planning to ship its first international order to Cafféluxe Limited International in January 2021.

Michael Sachar, Cafféluxe Commercial Director said: “The interest has been nothing short of phenomenal. We will move the Medspresso™ range through existing distributors in the UK, Europe and GCC countries (Middle East). ”

The company is scaling up its production to meet the growing demand. Currently, the products are available at the Cafféluxe showroom and E-commerce websites across South Africa.

“The market response for Medspresso™ has been nothing short of spectacular. Consumers are loving the products and the brand. We will always work as hard as we can to earn and keep the loyalty of our consumers by delivering exceptional products far beyond expectations. ” said Wuhan General Group CEO Jeff Robinson.

About Wuhan General Group, Inc./ M2Bio Sciences, Inc

Wuhan General Group, Inc. (DBA M2bio Sciences), through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™ and Handcrafted Delights™ brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. The Company is listed and traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol “WUHN”.

For further information:

Publicly traded company (OTC Pink: WUHN)
Website: www.m2bio.co
E-mail:info@m2bio.co
Follow us on Twitter: https://twitter.com/m2bio
Follow us on Facebook: http://www.facebook.com/m2bio

Forward-Looking Statements:

Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

Source: Wuhan General Group, Inc./M2Bio Sciences, Inc

SOURCE: Wuhan General Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/621529/Wuhan-General-Group-Expands-into-UK-Market-with-Medspresso

Posted on

Benzinga – Entheon Biomedical And Psygen Labs Inc.’s DMT Drug Supply Agreement

Thousands of traders just like you are using Benzinga Options to learn the formula that Nic Chahine uses to earn a full-time living. Click here to see how you can learn while you earn.

This article was originally published on Microdose Psychedelic Insights and appears here with permission.

The mantra of the emerging psychedelic medicine industry ought to be collaboration over competition. It seems that almost every week, a new collaboration or partnership is announced. Today, Canadian biotechnology company Entheon Biomedical announced a DMT drug supply agreement with the Calgary-based psychedelic company Psygen Labs Inc. Psygen will supply Entheon with DMT for upcoming “formulation, preclinical, clinical, and post-approval commercialization phases.” Exact details on this agreement can be found in the press release below.

PsyGen Labs Chief Scientific Officer Peter Van der Heyden also spoke at our Mushrooms Conference in November – for the full story, click here.

Additionally, you can read our exclusive story on Entheon’s use of DMT-assisted psychotherapy for addiction treatment here.

About Entheon Biomedical Corp.

Discover MOVERS in the Cannabis Sector

Want to get in on the ground floor of this fast-growing industry? Join us on June 3-4 as we showcase the biggest names and latest startups in Cannabis & Psychedelics?

Register now for the live premiere on June 3-4 to see DOZENS of live DD presentations, expert-lined discussion panels, and in-depth education on how to make money with Cannabis Stocks.

Click here to grab a FREE ticket before space fills up!

Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products (“DMT Products“) for the purposes of treating addiction and substance use disorders. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.

About Psygen Labs Inc.

Psygen Labs Inc (“Psygen“) is a Calgary-based company specializing in the synthetic manufacture of psychedelic medicines. The company provides non-exclusive access to psychedelic drug substances and products for clinical research and therapeutic applications. Psygen is well positioned to be a lead supplier for the emerging commercial market. Psygen has sponsored a Licensed Dealer who holds a license for the manufacture, sale, import, export, and analysis of psilocybin, MDMA, DMT, LSD, 2C-B, and mescaline. Psygen’s chemists and manufacturing lab currently reside at the University of Alberta. Psygen has applied to Health Canada for a corporate Dealer’s License which will allow the company to manufacture, possess, sell, import, export, research, develop, and analyze psychedelic drug substances and products. Psygen is actively developing and constructing a 6000sq/ft lab capable of large-scale synthesis, formulation, and distribution of the above and additional psychedelics. Psygen intends to be the leader in psychedelic supply chain solutions and is committed to supporting the renaissance in research and clinical treatment of a wide variety of mental health issues.

Read the original Article on Microdose Psychedelic Insights.

Posted on

TRYP THERAPEUTICS COMPLETES INITIAL PUBLIC OFFERING

La Jolla, CA – December 17, 2020 – Tryp Therapeutics Inc. (“Tryp” or the “Company“) is pleased to announce the successful closing of previously announced initial public offering (the “Offering“) of units (the “Units”).  A total of 20,010,000 Units were sold, including 2,610,000 Units following the exercise in full by the Agent (as defined herein) of its over-allotment option, at a price of $0.25 per Unit for aggregate gross proceeds of $5,002,500.

Each Unit consists of one common share in the capital of the Company (each a “Common Share“) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“). Each Warrant is exercisable into one Common Share (each, a “Warrant Share“) at an exercise price of $0.50 per Warrant Share at any time prior to 5:00 p.m. (Vancouver time) on December 17, 2021, subject to acceleration in certain events.

The Common Shares are expected to commence trading on the Canadian Securities Exchange under the symbol “TRYP” on or about December 18, 2020.

Canaccord Genuity Corp. acted as the sole agent (the “Agent“) for the Offering.

Pushor Mitchell LLP acted as legal counsel to the Company and Borden Ladner Gervais LLP acted as legal counsel to the Agent in connection with the Offering.

No securities regulatory authority nor the CSE has either approved or disapproved of the contents of this news release. The Common Shares and Warrants comprising the Units 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. Accordingly, the Units may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tryp Therapeutics:

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles for the treatment of rare or orphan diseases and other diseases with high unmet medical needs.  Tryp’s PFN™ Program is focused on the use of psilocybin for the treatment of certain neuropsychiatric-based disorders.  Tryp’s lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States.

In addition to its PFN™ Program, Tryp is also developing TRP-1001, an oral formulation of razoxane for the treatment of soft tissue sarcoma.  Soft tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children.  Based on the prevalence of soft tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for Orphan Drug status.

Contact: 

Tryp Therapeutics Inc.
James Kuo, MD – Chief Executive Officer
E:  jkuo@tryptherapeutics.com
W: www.tryptherapeutics.com

For inquiries please contact us at:
T:  1-833-811-TRYP (8797)
E: investors@tryptherapeutics.com

Forward-Looking Information

Certain information in this news release, including statements relating to the anticipated date that the Common Shares will commence trading on the Canadian Securities Exchange [and the exercise of the over-allotment option,] constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the “Risk Factors” section of the Prospectus available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.