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HAVN LIFE ATTRACTS INTERNATIONAL DRUG SCIENCE AND POLICY EXPERT, JOINS UK POLICY REFORM GROUP

Havn Life has joined the UK-based Conservative Drug Policy Reform Group (CDPRG), a group organized to benefit drug policy-making

The Havn Life Advisory Board adds Mr. King, a vocal advocate for drug policy reform and research.

Vancouver, BC – Havn Life Sciences Inc. (CSE : HAVN) (FSE : 5NP) (the “Company” or “Havn Life”),  a biotechnology company focused on unlocking human potential using evidence-informed research and developing standardized psychoactive compounds derived from plants and fungi, is pleased to announce it has become a voting member of the Conservative Drug Policy Reform Group (CDPRG).

The Company is also pleased to announce that David King, director of research for CDPRG, has joined the Havn Life advisory board. King has co-authored several CDPRG white papers including ‘The UK Review of Medicinal Cannabis: The Needs of a Nation’ and ‘The Medicinal Use of Psilocybin: A call for reform.’ This year, King received the Dr Abbas Khan Medal by King’s College London for ‘outstanding humanitarian contributions to the service of society’.

He is also a founder of the Breaking Convention, Europe’s largest academic conference on psychedelic drug research, and was a founding director of the Breaking Convention charity from 2010 to 2019.

The CDPRG is a UK-based organization that assembles evidence from across the fields of medicine, law-enforcement, economics, ethics, criminology and human rights, for the benefit of drug policy-making. This year the CDPRG launched a campaign to reschedule psilocybin in the UK as part of their mission to provide greater access for research and medicinal purposes. Havn Life will commission 250 hours of work from CDPRG’s researchers.

“Being a part of the CDPRG global network of scientists allows us to utilize multidisciplinary expertise to develop psilocybin protocols that can have global impact,” says Tim Moore, Havn Life CEO. “Collaboration across fields allows us to move the needle. We are building a strong foundation of knowledge to develop a safe and reliable supply of naturally-derived psychedelic compounds for research”.

“As the clinical trial evidence for psychedelic therapies grows, it becomes increasingly clear that these interventions are safe, well-tolerated, and have the potential to change lives for the better, sometimes after only a single session,” says King. “We do not yet know what the real-world impact of these therapies will be, but there are good reasons to believe that we will be better equipped to treat some of the most difficult and burdensome conditions of the modern age, for which new approaches are desperately needed.”

King completed his undergraduate degree in medical anthropology in 2011, with a research thesis on beliefs and attitudes to health, illness and medicine among cannabis-using populations. He has also worked as a researcher at the Beckley Foundation and in immunology at the National University of Singapore.  King was the founding President of both the award-winning Psychedelics Society at the University of Kent and the Society for Psychedelic Studies at King’s College London.

King first met Havn Life Chief Psychedelic Officer Dr. Ivan Casselman when they both were students together at the School of Anthropology and Conservation, University of Kent, over ten years ago.

“I am delighted to be working with Dr. Casselman and the other members of the Havn Life team as they move from strength to strength,” King adds. “Their collective experience, acumen and energy is remarkable and I anticipate the group accomplishing a great deal in the years ahead.”

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

About Havn Life Sciences Inc.

Havn Life Sciences is a biotechnology company on a mission to unlock human potential using evidence-informed research. The Company is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi, and the development of natural health care products from non-regulated compounds. Learn more at: havnlife.com and follow us on Facebook, Twitter and Instagram.

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

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BETTER PLANT SUBSIDIARY JUSU LAUNCHES 8 NEW JUICES

Vancouver, B.C. – December 1, 2020: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) is pleased to announce the launch of eight new Jusu juices. The juices are now for sale at the Cadboro Bay Jusu Bar location at 2560B Sinclair Road in Victoria, British Columbia. The juices will later be available online for direct to consumer sales and delivery in select cities.

 

The Cadboro Bay Jusu Bar recently celebrated its sixth anniversary of operations. “The store has a consistent and loyal local customer base, and has had the same manager since the store opened, who is known and loved by the customers,” says Joelle Fiorito, Head of Operations for Better Plant.

 

The initial order was for 1,000 bottles, which will provide the Better Plant team with key customer feedback in support of the direct to consumer launch of the new Jusu juices.

 

The following eight 355mL cold-pressed Jusu juices are now available at the Cadboro Bay Jusu Bar location:

 

  • Hallelujah (Spinach, Cucumber, Celery, Apple, Ginger and Lemon)
  • I can C clearly now (Turmeric, Apple, Pear, Carrot, Lemon and Ginger)
  • Beet it! (Beet orange carrot ginger)
  • My heart will go on (Kale, Spinach, Apple, Cucumber, Celery, Lemon and Ginger)
  • Smoke on the Water (Pure lemon, Activated Charcoal and Agave)
  • Sweet Alkaline (Blueberry, Cranberry, Strawberry, Apple and Apple Cider Vinegar)
  • I Will Survive (Pure Lemon, Honey and Ginger)
  • Here Comes the Sun (Orange, Ruby Grapefruit, Lemon, Lime and Cayenne)

 

Better Plant plans to market the new juices online through Google ads and a targeted social media campaign, which will  include video advertisements intended to educate consumers on a plant-based lifestyle.

 

The global cold-pressed juices market is expected to post a compound annual growth rate of close to 8% during the period 2019-2023, according to the latest market research report by Technavio. According to the report’s segmentation analysis, the North America region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The market in North America is driven by the high demand for healthy beverages that contain no added sugar and artificial preservatives in the region.

 

Better Plant acquired Jusu assets on October 9th. More details on the acquisition are available in the press release Better Plant Completes Acquisition of Jusu, dated October 14th.

 

About Jusu Wellness Inc.

Jusu Wellness Inc. is a wholly owned subsidiary of Better Plant and it owns and operates Jusu, a full spectrum wellness brand with a mission to enlighten consumers to the protective and effective properties of plant-based products. Jusu takes a 360 degree approach to wellness. What you put in your body, on your body and in your environment. Jusu is committed to making pure, organic, plant-based products for consumption, body, and personal care. This includes one JUSU Bar location in Victoria, BC and brick-and-mortar juice bar franchise opportunities as well as an extensive direct-to-consumer product offering including cold-pressed juices, skin care and body products, aromatherapy, and home cleaning lines. Jusu is fully dedicated to offering consumers healthier alternatives to currently available chemical-based skin care, edible, and beverage products.

 

About Better Plant Sciences Inc. 

Better Plant offers plant-based products for optimum health and wellness. It is a vertically integrated company with a team whose complementary experience enables acquisition, development, manufacturing, and direct-to-consumer distribution of our products. Its  all-natural products vary in use from pain treatment to disease prevention to skin care, all without chemicals or harmful ingredients.  It has an extensive catalogue of over 400 proprietary product formulas.  Better Plant currently has over 60 plant-based products for sale through eCommerce or in retail stores under the brands Jusu, Urban Juve, and Wright & Well. Better Plant also owns approximately 52% of NeonMind Biosciences Inc. NeonMind Biosciences Inc. has manufactured a line of coffees infused with medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product to aid in or cause weight loss and treat obesity and related illnesses.

Health Canada has approved NeonMind’s preclinical trial for research into using psilocybin as a treatment to promote and cause weight loss and NeonMind is currently developing protocols for Phase II human trials to be submitted for approval in early 2021.

NeonMind’s product candidates with psychedelic compounds will not be commercialized prior to applicable regulatory approval, which will only be granted if clinical evidence of safety and efficacy for the intended uses is successfully developed. Psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (CDSA) and it is a criminal offence to possess substances under the CDSA without a prescription. Health Canada has not approved psilocybin as a drug.

For more information about Better Plant, visit betterplantsciences.com or follow @betterplantsciences on Instagram.

Go to getjusu.com to buy Jusu products.

 

Investor Relations Contact:

Penny White, President & CEO

Ali Dumanski, Investor Relations

invest@betterplantsciences.com 

1-833-515-2677

The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.

 

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation.  Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements.  Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of COVID-19, the potential for not acquiring any rights as a result of the patent  application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen.  Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets.  Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better 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.

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Mind Cure Promotes Kelsey Ramsden to President and Chief Executive Officer

VANCOUVER, BC, Dec. 1, 2020 /CNW/ – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“Mind Cure” or the “Company”) is pleased today to announce the appointment of Kelsey Ramsden as President and Chief Executive Officer, effective immediately. With Over 15 years founding, scaling and operating innovative businesses across several industries, Mrs. Ramsden has built multiple eight-figure companies from the ground up. She is an experienced leader and acclaimed entrepreneur, twice recognized as Canada’s Top Female Entrepreneur of the Year. After serving as Mind Cure’s COO, Mrs. Ramsden steps into the President and CEO role as of December 1, 2020. She possesses a thorough understanding of the mental health industry and a clear vision of where it is going.

Mrs. Ramsden stated, “I am humbled and excited to step into the position of President and CEO at Mind Cure. I have a profound passion for this industry and finding a better way to treat mental health. Through firsthand experience I know the incredibly promising potential of new drugs, treatments and therapies and am excited to work with our team to bring them to people in need.”

After guiding Mind Cure through its initial public offering and early operations, former President and CEO Philip Tapley will continue to serve the Board of Directors as Chairman. It was obvious to him early on that Mrs. Ramsden was the right leader to continue to build upon what he started. “Mrs. Ramsden will take our strategic vision to new heights,” said Mr. Tapley. “We have earned the trust of the industry and our shareholders these past few months, and now we get to work to translate that into earning the trust of our customers and those in need of new mental health treatments. Mrs. Ramsden has the full support of our Board of Directors and the right strategic plan in place for Mind Cure to become an industry leader.”

Mind Cure aims to identify and develop the pathways transforming mental health and wellness. Its unique focus will provide doctors, clinicians, and health regulators with data-driven research to prove the efficacy of treatment for people suffering from mental health illnesses and looking for a new way forward. “There are many promising companies, areas of research and studies emerging every single day in our industry. I will ensure that everything we do at Mind Cure is built on trust and backed by science,” said Mrs. Ramsden. “This growing industry of psychedelics and new mental health treatments requires a paradigm shift away from the old way of doing things. I have done things differently as a leader throughout my career. This industry needs more individualization. Richer scientific rigor. More empathy and trust that is earned. This is how I plan to lead Mind Cure.”

About Mrs. Ramsden

Kelsey Ramsden has spent her life building and scaling businesses in unconventional ways. She was named one of Canada’s 100 most powerful women, won Canada’s #1 female entrepreneur two years in a row, and proudly serves as a Richard Branson Centre Mentor.

Mrs. Ramsden also serves on the Entrepreneurship Council for the University of Western Ontario. An accomplished keynote speaker and bestselling author, she holds an MBA from the Richard Ivey School of Business at the University of Western Ontario.

The Company has granted a total of 500,000 stock options to Mrs. Ramsden pursuant to the terms of her executive employment agreement and the Company’s incentive stock option plan (the “Plan”).  The stock options are exercisable at a price of $0.63 and subject to the terms of the Plan.

About Mind Cure Health Inc.

Mind Cure exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.

Mind Cure is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. Mind Cure is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.

On Behalf of the Board of Directors
Philip Tapley, Chairman
Phone: 1-888-593-8995

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: Mrs. Ramsden being named President and CEO of Mind Cure; Mrs. Ramsden having a clear vision of where Mind Cure needs to go; Mrs. Ramsden taking Mind Cure to new heights; Mind Cure becoming an industry leader; Mind Cure identifying and developing the pathways transforming mental health and wellness; Mrs. Ramsden’s plans to lead Mind Cure; Mind Cure earning the trust of the industry and its shareholders; Mrs. Ramsden having the right strategic plan in place.

Forward-looking information is based on a number of key expectations and assumptions made by Mind Cure, including, without limitation: the COVID-19 pandemic impact on the Canadian and global economy and Mind Cure’s business, and the extent and duration of such impact; Mrs. Ramsden’s plans to lead Mind Cure; Mrs. Ramsden building Mind Cure into an industry leader. Although the forward-looking information contained in this news release is based upon what Mind Cure believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian and global economy, Mind Cure’s industry and its business, which may negatively impact, and may continue to negatively impact, Mind Cure and may materially adversely affect its investments, results of operations, financial condition and Mind Cure’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; the promotion of Mrs. Ramsden may not help Mind Cure achieve its goals.

Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect Mind Cure can be found under “Risk Factors” in Mind Cure’s final prospectus which is available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to Mind Cure. The forward-looking information is stated as of the date of this news release and Mind Cure assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

United States Advisory

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), may be offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Mind Cure Health Inc.

For further information: Investor Relations: investors@mindcure.com; 1-888-593-8995

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LOBE SCIENCES ANNOUNCES CAD$23,000,000 SALE OF COWLITZ CANNABIS OPTION TO IONIC BRANDS CORP.

December 1, 2020 Vancouver, British Columbia – Lobe Sciences Ltd. (“Lobe” or the “Company”) (CSE: LOBE) (OTC Pink: GTSIF) is pleased to announce that it has received and signed a non-binding letter of intent dated November 30, 2020 with IONIC Brands Corp. (“Ionic”) for the proposed sale to Ionic of certain assets held by Lobe related to Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) (the “Transaction”). Cowlitz is one of the top five licensed cannabis producers/processors located in Washington State.

 

The assets being sold to Ionic may include, but are not limited to, the assignment of all property leases relating exclusively to Cowlitz’s business, the assignment of Lobe’s option agreement to acquire all of the outstanding shares of Cowlitz, and the assignment of other contracts and rights related exclusively to Cowlitz including service contracts and equipment leases (the “Assets”).

 

The Transaction is subject to several closing conditions, including but not limited to: (i) satisfactory due diligence by both Ionic and Lobe; (ii) completion of a definitive agreement with binding terms and conditions for the Transaction, including finalization of the specific Assets that will be sold and certain Cowlitz assets that may be retained by Lobe; (iii) all respective directors and officers of Lobe and Ionic entering into support agreements for the Transaction; (iv) approval by the boards of directors of both Lobe and Ionic; (v) the completion of a share consolidation by Ionic on a minimum of one new Ionic common share for every four and a half (4.5) old Ionic common shares (the “Ionic Consolidation”); (vi) the conversion of all Ionic debentures (with principal amount of approximately CAD$14.7 million) into a secured equity or a similar instrument (“Debt Conversion”); (vii) completion of a concurrent financing by Ionic for gross proceeds of at least US$2 million (the “Ionic Concurrent Financing”); (viii) Ionic having all cease trade orders issued against it lifted(2); (ix) Ionic applying to the CSE for re-qualification and qualifying for listing and resumption of trading(2); and (x) the receipt of all required shareholder and regulatory approvals, including the approval of the CSE. Following the closing of the Transaction, Ionic’s board of directors is expected to be comprised of five (5) members and Lobe will have the right to appoint two (2) directors to the Ionic board.

 

The sale price for the Assets shall be a minimum of CAD$23 million, payable through the issuance of Ionic post-consolidation common shares (being approximately 49% of Ionic’s estimated $47 million capitalization post-restructuring (after giving effect to the Ionic Consolidation and Debt Conversion)), prior to giving effect to the Ionic Concurrent Financing. Following the closing of the Transaction, it is expected that the Lobe will own approximately 49% of Ionic’s common shares, on a post-consolidation and pre-Ionic Concurrent Financing basis. Ionic is expected to have a minimum total capitalization valuation of CAD$47 million, preIonic Concurrent Financing.

 

As previously announced, Lobe has been pursuing strategic alternatives for Cowlitz, aimed at maximizing its value to the Company. Cowlitz reported over US$14.6 million in gross sales revenues for the nine month period ended September 30, 2020, according to data provided on reports to the Washington State Department of Revenues(1). Lobe generates revenues through licensing and leasing agreements in place with Cowlitz.

 

Ionic is listed on the Canadian Securities Exchange(2) (the “CSE”) (CSE:IONC) and is a growing US-based cannabis company that focuses on premium cannabis products with current operations in Washington and Oregon. Ionic has completed a number of strategic synergistic acquisitions since 2019 aimed at growing revenues as a multi-state operator, and increasing their overall product lines and intellectual property portfolio. Ionic’s strategy has been focused on building a regionalized multi-state operation of cannabis brands in the Pacific Northwest markets with an eye to expansion into other recreational markets and aggressive national expansion.

 

John Gorst, CEO of Ionic said “We are excited about this opportunity to expand our presence in Washington State. Cowlitz has

 

tremendous brand presence and following in Washington State, which we feel is a natural fit, complementing our existing operations. The combination will make us one of the largest premier cannabis companies in the Pacific Northwest markets. The acquisition of the Cowlitz Assets will represent a complimentary synergistic acquisition that achieves our goal of operational expansion and growth of our product portfolio.”

 

“The proposed transaction with Ionic is accretive to both parties, successfully meets our M&A initiatives and keeps Lobe active in the cannabis and overall transformational psychedelic medicine space” states Tom Baird, CEO of Lobe. “The Transaction provides Lobe with significant ownership and board presence in Ionic. With its already significant operations in Washington State and Oregon, we feel Ionic’s proposed product expansion initiatives together with the addition of the Cowlitz Assets can lead to aggressive growth.”

 

 

 

About Ionic Brands Corp.

 

Ionic is dedicated to building a regionally based multi-state consumer-focused cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape concentrates and edibles. The cornerstone brand of the portfolio, IONIC, is the #3 vaporizer brand in Washington State and has aggressively expanded throughout the Pacific Northwest of the United States. The brand is currently operating in Washington and Oregon. Ionic’s strategy is to be the leader of the highest-value segments of the cannabis market.

 

 

 

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.

12/1/2020 2:01:00 PM

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Entheon Biomedical Announces CRO Agreement with CHDR for Phase 1 Clinical Trial

Centre for Human Drug Research led DMT study to start in 2021

Vancouver, BC – December 1, 2020 – Entheon Biomedical Corp. (“Entheon” or the “Company”) (CSE: ENBI) (FSE: 1XU1), a biotechnology company focused on developing psychedelic medicines to treat addiction, announced it has entered into a Clinical Study Agreement with the Contract Research Organization (CRO) Centre for Human Drug Research (CHDR) to conduct an early phase human clinical trial with DMT.

CHDR is a Leiden, Netherlands-based contract research organization (CRO) that specializes in early-stage clinical drug research. Based on an agreement signed October 7th, 2020, Entheon has contracted CHDR to carry out a study to evaluate the pharmacodynamics, pharmacokinetics and safety of a target-controlled intravenous infusion of N,N-dimethyltryptamine (DMT) (the “Product”) in humans.

CHDR research director of psychiatry, Gabiel Jacobs stated, “The CHDR psychiatry team is looking forward to the exciting collaboration with Entheon in conducting this data-intensive study with DMT in humans. Characterization of both its functional central nervous system effects and its impact on subjective experience, and to relate these to its pharmacokinetics, is crucial to properly understand DMT’s potential as pharmacotherapeutic.”

“This is a significant milestone in our mission to develop therapeutic protocols to treat substance use disorders. We believe that the CHDR’s renowned expertise in conducting early-stage clinicals trials and their use of innovative technology makes them an excellent CRO to partner with,” said Timothy Ko, Chief Executive Officer of Entheon. “With the CHDR’s partner pharmacy having successfully received an amendment to its opiate license to include DMT and having applied for its import permit for DMT, we are advancing on steps for our clinical trial, which is expected to start in the late summer of 2021.”

About the Centre for Human Drug Research (CHDR)

The Centre for Human Drug Research (CHDR) is an independent institute that specializes in cutting-edge early-stage clinical drug research. Combining innovative methods and technologies, state-of-the-art facilities, and talented, motivated researchers helps CHDR maximize their clients’ success. In addition, CHDR places the highest priority on their subjects’ comfort and safety, and they play an active role in helping educate the medical and clinical research communities. In addition, CHDR utilizes the services of the GMP-compliant the Leiden University Medical Center (LUMC). The LUMC pharmacy prepares and delivers the pharmaceutical products, including investigational medicinal products, and offers tailor-made solutions to help answer our sponsors’ questions.

About Entheon Biomedical Corp.

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.

For more information, please contact the Company at:

Entheon Biomedical Corp.
Timothy Ko
Telephone: +1 (604) 562-3932
info@entheonbiomedical.com
https://entheonbiomedical.com/

For media inquiries, please contact Crystal Quast at:

Bullseye Corporate
Crystal Quast
Telephone: +1 (647) 529-6364
Quast@BullseyeCorporate.com

Website Twitter Facebook LinkedIn

 

Cautionary Note on Forward Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the approval of the proposed study protocol by the Dutch Medical Ethics Review Committee, the commencement of the study, the ability to obtain study participants, the results and outcomes of the study, and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company’s ability to raise further capital and the Company’s ability to obtain regulatory and exchange approvals. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement. Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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Nova Mentis Life Science Completes Acquisition of Pilz Bioscience

December 1, 2020 6:00 am Published by 

Novamentis

Vancouver, British Columbia – December 1, 2020 – Nova Mentis Life Science Corp. (CSE: NOVA) (FSE: HN3Q) (OTCPK: LIBFF) (“NOVA” or the “Company”) is pleased to announce that, further to its news releases dated November 2 and November 18, 2020, the amalgamation between Pilz Bioscience Corp. (“Pilz”) and 1271642 B.C. Ltd. (“Nova Subco“), a wholly-owned subsidiary of the Company, has been completed (the “Transaction”).

Strategic and value enhancing benefits of the Transaction include:

  • NOVA gains Pilz’ work-in-progress research and scientific portfolio in addition to approximately $1.4M CDN in cash assets;
  • Enhances and diversifies NOVA’s mandate within the emerging medicinal psychedelic sector;
  • Bolsters human capital with personnel who have extensive experience in pharmaceutical research, FDA regulatory affairs, drug delivery and drug discovery; and
  • Near term corporate catalysts as Pilz advances its pre-clinical and potential clinical medicinal psychedelic focus.

Pilz is a research driven biotechnology company that aims to develop medicinal psychedelics for neuroinflammatory conditions with a significant cognitive component and high unmet therapeutic needs.  Pilz’s focus is on Autism Spectrum Disorder (ASD), and its initial research has centred on developing a unique and proprietary system for diagnosing and treating ASD, with first-in-class psilocybin-based therapeutics.

The Pilz research and development program is led by the distinguished Dr. Marvin S. Hausman MD. Dr. Hausman is an Immunologist and Board-Certified Urological Surgeon with more than 30 years of drug research and development experience with various pharmaceutical companies, including Bristol-Myers International, Mead-Johnson Pharmaceutical Co., E.R. Squibb, Medco Research, and Axonyx.

Dr. Hausman is well-supported in his research efforts at Pilz, by Dr. Julia Perederiy, an established research neuroscientist, and Dr. Viviana Trezza, Head of Pharmacology, Roma Tre University, Rome, Italy. The goal of both scientists is to investigate the brain mechanisms underlying functional and dysfunctional socio-emotional behavior, especially in Autism Spectrum Disorder (ASD).

The Transaction

The Transaction was effected by way of a “three-cornered” amalgamation (the “Amalgamation“), in which: (a) Nova Subco amalgamated with Pilz to form an amalgamated company (“Amalco“); (b) all issued and outstanding shares of Pilz were exchanged for common shares of the Company on a 1:1 basis; and (c) Amalco became a wholly-owned subsidiary of the Company and was renamed Pilz Bioscience Corp.

Pursuant to the Transaction, NOVA acquired 100% of the issued and outstanding shares of Pilz by issuing 50,006,332 common shares in the capital of NOVA to the shareholders of Pilz. Of these shares, 12,250,000 are subject to a voluntary pooling agreement whereas certain Pilz shareholders have agreed to resale restrictions on their NOVA Shares: 20% to be released upon closing of the Transaction, a further 40% to be released three (3) months following closing, and the remaining 40% to be released six (6) months following closing.

In connection with the Transaction, Dr. Marvin S. Hausman MD has been appointed Chairman of NOVA’s Scientific Advisory Board and Amalco’s Chief Medical Officer.

Furthermore, Pilz has engaged First Marketing GmbH (“First Marketing”) to secure advertising and corporate communications on its behalf in the European market. In connection with this engagement, Pilz has advanced €250,000 to First Marketing for the services provided over a three month term. Principals of First Marketing hold an aggregate 1,200,000 stock options of the Company, exercisable at $0.20 per share and expiring on November 6, 2021.

About Pilz Bioscience Corp.

Pilz Bioscience Corp. (“Pilz”) is a biotechnology company developing medicinal psychedelics for neuroinflammatory conditions with a significant cognitive component and high unmet therapeutic needs. The initial focus is on Autism Spectrum Disorder (ASD). The company intends to leverage a unique systems-level scientific approach that integrates inflammation, oral/gut/brain axis, and behavior. Pilz aims to lead the global effort in design of effective and comprehensive diagnostic/monitoring programs and first-in-class therapeutics.
https://pilzbioscience.com/

About Nova Mentis Life Science Corp.

Nova Mentis Life Science Corp. (formerly Liberty Leaf Holdings Ltd.) is a Canadian-based, public company whose focus is to build and support a diversified portfolio of health and wellness businesses. Holdings include its wholly-owned subsidiary, Nova Mentis Biotech Corp., a R&D driven company focused on exploring the anti-inflammatory effects of psilocybin in underexplored metabolic indications such as obesity and diabetes – Just Kush Enterprises, an Okanagan BC based, Health Canada Standard Licensed cannabis facility.

For further information on the Company, please visit https://www.novamentis.ca or email info@novamentis.ca

On Behalf of the Board

Will Rascan, President & CEO
Nova Mentis Life Science Corp.

Phone: 778-819-0244
Toll Free: 1-833-542-5323
Twitter: @novamentislsc
Instagram: @novamentislsc
Facebook: @novamentislsc

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Nova Mentis Life Science’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

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MindMed Files Preliminary Prospectus In Connection With Bought Deal Equity Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Nov. 30, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED), (OTCQB: MMEDF) (“MindMed” or the “Company“) is pleased to announce that further to its previously announced offering (the “Offering“) on November 25, 2020, 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 Québec. Pursuant to the underwriting agreement among the Company, Canaccord Genuity Corp. (the “Lead Underwriter“) and Eight Capital (together with the Lead Underwriter, the “Underwriters“), the Underwriters have agreed to purchase 15,800,000 units of the Company (the “Units“), on a “bought deal” basis, at a price per Unit of CAD$1.90 (the “Issue Price“) for gross proceeds of CAD$30,020,000.

The Company has also granted the Underwriters 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 the closing of the Offering. If this option is exercised in full, an additional CAD$4,503,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately CAD$34,523,000.

Each Unit will be comprised of one subordinate voting share of the Company (a “Subordinate Voting Share“) and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a “Warrant“). Each Warrant shall entitle the holder thereof to purchase one Subordinate Voting Share at an exercise price of CAD$2.45, for a period of 36 months following the closing of the Offering. If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Subordinate Voting Shares on the NEO Exchange Inc. is greater than $4.00 per Subordinate Voting Share for the preceding 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is at least 30 days following the date of such written notice.

The Company intends to use the net proceeds of the Offering for investment in its digital medicine division, additional microdosing research and development as well as general working capital and corporate purposes, including to further fund its ongoing programs.

The Offering is scheduled to close on or about December 8, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Neo Exchange Inc. and the applicable securities regulatory authorities.

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 state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

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 Québec. 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.

About MindMed

MindMed is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The Company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the Company’s groundbreaking approach to developing the next generation of psychedelic inspired medicines and therapies.

MindMed trades on the Canadian exchange NEO under the symbol MMED. MindMed is also traded in the United States under the symbol MMEDF and in Germany under the symbol MMQ. For more information: http://www.mindmed.co/.

Forward-Looking Statements

Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Offering, regulatory approvals and the intended use of proceeds of the Offering. There are numerous risks and uncertainties that could cause actual results and MindMed’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

Media Contact: mindmed@crosscutstrategies.com

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Lobe Sciences Announces Launch of Preclinical Study in Collaboration with the University of Miami Miller School of Medicine

November 30, 2020 Vancouver, British Columbia – Lobe Sciences Ltd. (“Lobe” or the “Company”) (CSE: LOBE) (OTC Pink: GTSIF) is pleased to announce the launch of preclinical research studies using psilocybin and N-Acetylcysteine (“NAC”) for the treatment of mild traumatic brain injury/concussion (“mTBI”) with

post-traumatic stress disorder (“PTSD”). The study is in collaboration with a multidisciplinary team of scientists and physicians at the University of Miami Miller School of Medicine under the lead of Michael E. Hoffer, M.D., professor of otolaryngology and neurological surgery.

The assets being sold to Ionic may include, but are not limited to, the assignment of all property leases relating exclusively to Cowlitz’s business, the assignment of Lobe’s option agreement to acquire all of the outstanding shares of Cowlitz, and the assignment of other contracts and rights related exclusively to Cowlitz including service contracts and equipment leases (the “Assets”).

The Miller School of Medicine is an internationally recognized leader in medical research, ranked No. 39 among the top medical schools in the nation by Blue Ridge Institute for Medical Research. In 2019, the medical school submitted 1,968 research proposals and was awarded $149 million in research funding from the National Institutes of Health (NIH).

The sale price for the Assets shall be a minimum of CAD$23 million, payable through the issuance of Ionic post-consolidation common shares (being approximately 49% of Ionic’s estimated $47 million capitalization post-restructuring (after giving effect to the Ionic Consolidation and Debt Conversion)), prior to giving effect to the Ionic Concurrent Financing. Following the closing of the Transaction, it is expected that the Lobe will own approximately 49% of Ionic’s common shares, on a post-consolidation and pre-Ionic Concurrent Financing basis. Ionic is expected to have a minimum total capitalization valuation of CAD$47 million, preIonic Concurrent Financing.

As previously announced, Lobe has been pursuing strategic alternatives for Cowlitz, aimed at maximizing its value to the Company. Cowlitz reported over US$14.6 million in gross sales revenues for the nine month period ended September 30, 2020, according to data provided on reports to the Washington State Department of Revenues(1). Lobe generates revenues through licensing and leasing agreements in place with Cowlitz.

Maghsoud Dariani, Chief Science Officer of Lobe said, “We are very excited to begin the preclinical studies in collaboration with Dr. Hoffer and his team at the University of Miami. They have made significant in-roads studying psychedelic medicine specifically as it relates to mTBI and PTSD. NAC has been shown as the only compound that has adequate pre-clinical studies to validate use and, to date, remains the only compound that has successfully completed a phase 1 equivalent trial in a population of individuals who had acute mTBI.

Given there are currently no proven effective medical treatments for the treatment of mTBI and PTSD, we feel this is an important study that can lead to human clinical trials and eventually therapeutics to make a positive impact in the physical and mental wellbeing of millions of people.”

 

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.NAC has been shown to be safe and efficacious in a phase I human clinical study in

 

treating military personnel who had suffered mTBI. The initial research focus is to demonstrate the safety and efficacy of the combination of psilocybin and NAC using broadly accepted rodent models. Final results are expected in 2021. Once this is established, more specific work can examine dose response, medicine uptake, and medicine levels. The research team at the Miller School of Medicine has conducted prior studies involving NAC with mTBI and has a license from the United States Drug Enforcement Administration to conduct research using Schedule I controlled substances, which includes psilocybin.Advances in neuro-diagnostic assessment have revealed mild traumatic brain injury (concussion) is more common than previously thought and potentially associated with a host of negative health outcomes. The Centers for Disease Control (“CDC”) estimates that there are 3 million emergency room visits and over 230,000 hospitalizations due to TBI in any given year in the United States alone. Also, at the same time there are 5.3 million Americans living with the effects of mTBI (a 53% increase over ten years ago). The World Health Organization calls traumatic brain injury a “silent epidemic” that affects over 70 million individuals across the world. The United States Department of Defense estimates that over 345,000 individuals are affected by mTBI and that 20% of all service members who deploy suffer mTBI. mTBI and PTSD are significant health care issues that often co-occur and impact each other.Dr. Hoffer, the principal investigator on the study, said, “This a very important extension of our work with NAC and other medicines to identify new treatments for mTBI and PTSD. We are hopeful that this new combination of psilocybin with NAC will lead us to better solutions for those suffering from mTBI and/or PTSD.”

11/30/2020 2:00:00 PM

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Field Trip Health Ltd. Reports Second Fiscal Quarter 2021 Financial Results, Announces Two New Field Trip Health Center Locations

  • Pre-clinical studies demonstrate potential of FT-104, its novel psychedelic molecule, as preferable option for psychedelic therapies, with comparable potency to psilocybin and shorter duration
  • 4 Field Trip Health centers are in operation, with Amsterdam and newly announced locations in Atlanta, GA and Houston, TX under construction
  • Digital applications Trip and Portal providing people with new tools for tele-therapy
  • Strong cash position of $14.0M to advance development of FT-104 and continue expansion of Field Trip Health Centers in North America and Europe

TORONTO, Nov. 30, 2020 (GLOBE NEWSWIRE) — Field Trip Health Ltd. (CSE: FTRP) (OTCBB: FTRPF) (“Field Trip”), a leader in the development and delivery of psychedelic therapies, reported its second fiscal quarter results for the three and six months ended September 30, 2020. All results are reported under International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise specified.

Key Highlights and Recent Developments

During fiscal Q2 of 2021, Field Trip completed brokered and non-brokered private placements of an aggregate of 6,333,656 Class A shares in the capital of Field Trip, at a price of $2.00 per Field Trip Share, for aggregate gross proceeds of $12,667,312 (the “Financing”). Funds for these private placements were received in two tranches.

As at September 30, 2020, Field Trip reported cash and cash equivalents of $14,042,025 which included $11,033448 gross proceeds from the first tranche of financing and $1,638,670 in other receivables, which primarily related to the second tranche funds from the Financing held in escrow and released in October.

On October 1, 2020, Field Trip completed its previously announced going public transaction via a reverse takeover and began trading on the Canadian Securities Exchange (the “CSE”) under the stock symbol “FTRP”, as well as the OTCBB under the symbol “FTRPF”.

With its strong cash position and recent listing, Field Trip is well-positioned to execute on its corporate strategy of building an integrated psychedelics company through its Field Trip Discovery and Field Trip Health Divisions. Field Trip Discovery’s focus includes: (i) continued development of FT-104, its first drug candidate, which is a novel synthetic psychedelic molecule; and (ii) advanced research and cultivation on psilocybin producing fungi at its research facility (the “Jamaica Facility”) at The University of West Indies (Mona) in Jamaica (“UWI”). Field Trip Health’s focus is on: (i) building out the clinical infrastructure needed to deliver psychedelic therapies at scale, with current and announced locations in Toronto, New York, Los Angeles, Chicago, Amsterdam, Atlanta, GA and Houston, TX; and (ii) developing digital tools to enhance and optimize the therapeutic experience in its Field Trip Health Centers and beyond, including Trip, its mobile application supporting consciousness expansion and Portal, its tools to support people participating in psychedelic therapies at Field Trip Health centers.

FT-104

FT-104 is a next-generation, synthetic psychedelic molecule whose design is, in part, based on classical serotonin 2A psychedelics. Patents are pending on FT-104’s structure, formulation and use in treating a variety of central nervous system disorders. Preliminary results for FT-104 demonstrate that FT-104 is similar in potency to psilocybin, but may provide a significantly shorter duration of psychedelic experience relative to psilocybin (in the range of two to four hours, which is approximately half the duration of psilocybin), making it a more convenient and potentially preferable option for psychedelic therapy. FT-104 is concurrently undergoing optimization and cGMP scale-up, as well as pre-clinical evaluation, both of which are expected to be completed by June 2021. Field Trip anticipates that FT-104 will enter into Phase 1, clinical trials in the second half of calendar year 2021.

Psilocybin-producing Fungi Research and Cultivation

Since January 2020, Field Trip has successfully cultivated 24 varieties (from 13 different species) of psilocybin-producing fungi and truffles in a temporary facility at UWI’s Mona Campus, and in October 2020, Field Trip substantially completed construction of a 2,072 sq. ft. custom-built research and cultivation facility situated on UWI’s Mona campus. The purpose of the Jamaica Facility is to optimize the cultivation techniques and operating procedures for psilocybin-producing fungi and develop the analytical tools and techniques to ensure the safe use of domesticated species in psychedelic therapy in legal jurisdictions (states or countries) as markets for psilocybin-producing fungi continue to emerge. Field Trip anticipates utilizing such techniques and operating procedures at Field Trip Health’s Amsterdam location, as well expected operations in the State of Oregon, following the passage of Measure 109, which will effectively create the first legal market for psilocybin therapies in North America.

In addition, Field Trip will seek to identify and quantify total tryptamine content, including psilocybin and other tryptamine analogues that may play a role in the psychedelic experience, and use this knowledge to optimize production of reproducible and well-characterized psychedelic botanical medicines. Further, any new substances identified during these efforts, may lead to promising new candidates for drug development.

Field Trip Health Centers

Field Trip Health centers are primarily dedicated to the treatment of depression and other mental health conditions using proprietary protocols and settings within a framework of ketamine-assisted therapies but will offer therapies using other psychedelic molecules where and when permitted, including in The Netherlands and the State of Oregon.

During the second fiscal quarter, following the successful opening of its Toronto location in March 2020, Field Trip opened Field Trip Health centers in the United States with locations in New York and Los Angeles. In October 2020, Field Trip completed construction at its Chicago location and expects to begin providing therapies to people in December.

Field Trip also announced that it has entered into a lease to build a Field Trip Health center in Amsterdam, Netherlands, which will provide programs utilizing truffles containing psilocybin, which are legal in The Netherlands. Field Trip has also entered into two additional leases in Atlanta, GA and Houston, TX, respectively bringing the total number of Field Trip Health centers to a total of seven, ahead of schedule. The Field Trip Health center in Atlanta, GA will be a 5,189 sq. ft. facility located at Building 200, 750 Glenwood Avenue and is a part of the redevelopment of GlenCastle, which is Atlanta’s historic city stockade, stables and farm, that is being restored and repurposed into Atlanta’s most unique and creative office campus. The Houston center is a 4,600 sq. ft. facility located at Suite 4310 Westheimer Road, Suite 220 in Houston’s River Oaks neighborhood and will offer seven treatment rooms and a large group therapy room.

Digital Teletherapy Tools: Trip and Portal

During the second fiscal quarter, Field Trip also launched the Trip, a mobile app that provides users with a framework and tools to make the most of self-directed consciousness-expanding activities such as meditation and breathwork. Trip was released to users on Apple and Android platforms and has over 3,600 active users.

Field Trip also launched Portal, a proprietary digital tool designed to complement its in-person therapeutic experience. Portal provides users with content, information, meditations, and synchronous and asynchronous communication tools for people in its psychedelic therapies and programs.

Effects of COVID-19 Pandemic on Operations

Overall, Field Trip was not significantly affected by the COVID-19 pandemic. Although restrictions delayed construction on the New York and Los Angeles Field Trip Health centers, the delays were not significant and operations in its existing and planned Field Trip Health centers continue in earnest. As the COVID-19 pandemic has resulted in an estimated 300% increase in the incidence of depression in the US1, Field Trip anticipates that it will see an increase in expected long-term demand for its depression-related psychedelic therapies, particularly as case counts start to diminish in the future. However, Field Trip anticipates that financial results and operations for the forthcoming fiscal quarters may be negatively impacted by the COVID-19 pandemic as restrictions limit people’s ability to seek non-essential health services.

Financial Highlights

For the second fiscal quarter, Field Trip reported patient services revenues of $94,532 from its Toronto and New York Field Trip Health centers, which began continuous operations in June and August, respectively.

Net loss for the second fiscal quarter of $3,932,444 was primarily due to general and administration expenses of $2,182,144, research and development expenses of $745,989, sales & marketing expenses of $268,475, patient services expenses of $232,114, occupancy costs of $111,877 and realized foreign exchange loss of $196,288. Net loss for the second fiscal quarter of 2020 of $514,643 was primarily due to general and administration expenses of $411,686, occupancy costs of $59,342 and sales and marketing expenses of $43,582.

For the six months ended September 30, 2020, the Company reported patient services revenues of $118,131 from our Toronto and New York clinics. Net loss of $6,891,348 was primarily due to general and administration expenses of $3,536,064, research and development expenses of $1,480,991, sales & marketing expenses of $420,307, patient services expenses of $289,089, occupancy costs of $175,660 and realized foreign exchange loss of $591,010. Net loss for the period from April 2 (date of incorporation) to September 30, 2019 of $681,418 was primarily due to general and administration expenses of $564,331, occupancy costs of $73,472 and sales and marketing expenses of $43,582.

Selected Consolidated Financial Information

The following table sets forth selected financial information derived from the Company’s unaudited condensed interim financial statements for the three and six months ended September 30, 2020 and periods ended September 30, 2019, prepared in accordance with IAS 34 in a manner consistent with the Company’s annual audited financial statements. The following information should be read in conjunction with the financial statements and management’s discussion and analysis, which are available on the Company’s website at www.fieldtriphealth.com and under the Company’s SEDAR profile at www.sedar.com.

(unaudited) 3 months ended
September 30, 2020		 3 months ended
September 30, 2019		 6 months ended
September 30, 2020		 Period from April 2,
2019 (Date of
Incorporation) to
September 30, 2019
$ $ $ $
Revenue 94,532 – 118,131 –
Operating Expenses
General and administration 2,182,144 411,686 3,536,064 564,331
Occupancy costs 111,877 59,342 175,660 73,472
Sales and marketing 268,475 43,582 420,307 43,582
Research and development 745,989 – 1,480,991 –
Depreciation and amortization 269,578 33 479,338 33
Patient services 232,114 – 289,089 –
3,810,177 514,643 6,381,449 681,418
Other Income (Expenses)
Finance expense (58,373) – (93,357) –
Other expense (158,426) – (534,673) –
Net Loss (3,932,444) (514,643) (6,891,348) (681,418)
Net Loss per Share – Basic and Diluted (0.16) (0.08) (0.28) (0.11)
Cash (including Restricted Cash) 14,042,025 1,057,334 14,042,025 1,057,334
Other Receivables 1,984,044 7,297 1,984,044 7,297
Total Assets 22,468,694 1,175,561 22,468,694 1,175,561
Total Non-Current Financial Liabilities 2,976,316 – 2,976,316 –
Distributions – 13,596 – 13,596

Conference Call

The Company will conduct a conference call and webcast to review its results the following day, Tuesday, December 1, 2020 at 8:00 am ET. To access the call, please dial 1-877-407-9716 or 1-201-493-6779 and provide conference ID 13713475. A live webcast of the conference call can be accessed via the Events and Presentations section of the Field Trip Health Investor Relations website or via the following link: http://public.viavid.com/index.php?id=142525.

For those unable to attend the live call, a telephonic replay will be available until December 15, 2020. To access the replay of the call dial 1-844-512-2921 or 1-412-317-6671 and provide conference ID 13713475. An archived copy of the webcast will be available on the Events and Presentations section of the Field Trip Health Investor Relations website after the conclusion of the call.

______________________________________

1Ettman CK, Abdalla SM, Cohen GH, Sampson L, Vivier PM, Galea S. Prevalence of Depression Symptoms in US Adults Before and During the COVID-19 Pandemic. JAMA Network Open. 2020;3(9):e2019686. doi:10.1001/jamanetworkopen.2020.19686

About Field Trip Health Ltd.

Field Trip is the global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.

Learn more at https://www.meetfieldtrip.com, https://www.fieldtriphealth.com and https://www.fieldtriphealth.nl.

Follow us on Twitter and Instagram: @fieldtriphealth

To receive company updates about Field Trip and to be added to the email distribution list please sign up here.

For further information, contact Ronan Levy, Executive Chairman, and a Director at Field Trip, at 1 (833) 833-1967.

Cautionary Note Regarding Forward-Looking Information

This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of Field Trip on the Canadian Securities Exchange, 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 statements are based on the current expectations and views of future events of the management of Field Trip and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

The CSE has neither approved nor disapproved the contents of this news release.

Media contacts:
Paige Tatulli
Autumn Communications
212-206-9780
paiget@autumncommunications.com / fieldtrip@autumncommunications.com

Investor contacts:
Elizabeth Barker
KCSA Strategic Communications
212-896-1203
ebarker@kcsa.com

SOURCE Field Trip Health Ltd.

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Psilocybin-assisted therapy 4 times more effective than antidepressants

Psilocybin-assisted psychotherapy produces large, rapid, and sustained antidepressant effects

A clinical trial showed psilocybin-assisted therapy was 4 times more effective at treating major depressive disorder than antidepressant drugs. 27 participants with a long-term history of depression received 11 hours of therapy in addition to two full-day psilocybin-assisted therapy sessions, two weeks apart. Patients received the doses of psilocybin while lying on a couch with eyeshades and listening to music through headphones, and clinical monitors provided guidance and support throughout the experience. Four weeks after the treatment, 71% of participants saw at least a 50% reduction in depression scores, and 54% of participants were in remission from depression.

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