Revive Therapeutics Engages Novotech as Asia-Pacific CRO for Bucillamine in the Treatment of Infectious Diseases

TORONTO, April 08, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV), a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, is pleased to announce that the Company has retained Novotech, the largest biotech clinical research organization (“CRO”) specialist in the Asia-Pacific region, to serve as the Company’s CRO to pursue future human clinical studies for Bucillamine in the treatment of infectious diseases, including the coronavirus disease (“COVID-19”) in Asia-Pacific Countries (“APAC”).

“We are pleased to have Novotech as part of our team to support us in our global clinical strategy for Bucillamine in infectious diseases, which includes COVID-19, and they will work in parallel and complement our initiatives in the U.S., specifically with our recently announced FDA pre-IND meeting request for Bucillamine,” said Michael Frank, Revive’s Chief Executive Officer. “We have assembled an exemplary team of scientific, clinical and regulatory experts with Dr. David Boulware, MD as our scientific advisor, Dr. Kelly McKee, Jr., MD, MPH as Chief Scientific Officer consultant, Dr. Onesmo Mpanju, PhD as FDA Regulatory Affairs consultant, and now with Novotech as our APAC CRO. Novotech will assist our team in exploring the potential for a Phase 2 clinical study for Bucillamine in the treatment of infectious diseases in the APAC region.”

Preclinical and clinical studies have demonstrated that reactive oxygen species contribute to the destruction and programmed cell death of pulmonary epithelial cells.1 N-acetyl-cysteine (NAC) has been shown to significantly attenuate clinical symptoms in respiratory viral infections in animals and humans, primarily via donation of thiols to restore antioxidant and to reduce the activity of cellular glutathione 2,3,4,5. Bucillamine (N-(mercapto-2-methylpropionyl)-l-cysteine) has a well-known safety profile and is prescribed in the treatment of rheumatoid arthritis in Japan and South Korea for over 30 years. Bucillamine, a cysteine derivative with two thiol groups, has been shown to be 16 times more potent as a thiol donor in vivo than NAC 6. The drug is non-toxic with high cellular permeability. The basis of the clinical study will analyze if Bucillamine has the potential, via restoration of glutathione activity and other anti-inflammatory activity, to lessen the negative consequences of influenza and SARS CoV2 infection in the lungs and to help treat these conditions.

Revive is actively pursuing a product and clinical development plan intending to unlock the full potential of Bucillamine for infectious diseases. The Company will continue to announce its initiatives as they unfold.

About Novotech

Novotech is internationally recognized as the leading regional full-service contract research organization (CRO) in Asia-Pacific. Novotech has been instrumental in the success of over a thousand Phase I – IV clinical trials for biotechnology companies.

Novotech was established in 1996, with offices in 11 locations across the region, and site partnerships with major health institutions.

Novotech provides clinical development services across all clinical trial phases and therapeutic areas including: feasibility assessments; ethics committee and regulatory submissions, data management, statistical analysis, medical monitoring, safety services, central lab services, report write-up to ICH requirements, project and vendor management. Novotech obtained the ISO 27001 certification which is the best-known standard in the ISO family providing requirements for an Information Security Management System. Together with the ISO 9001 Quality Management system, Novotech aims at the highest IT security and quality standards for patients and biotechnology companies.

For more information visit www.novotech-cro.com.

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 strains including 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.

For more information, please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.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” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s 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 Offering, including the intended use of proceeds. Forward-looking information is based on reasonable assumptions that have been made by Revive 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 Revive 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. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.

References

1. S Ye et al, Inhibition of Reactive Oxygen Species Production Ameliorates Inflammation Induced by Influenza A Viruses via Upregulation of SOCS1 and SOCS3., American Society for Microbiology. 2015 Mar;89(5):2672-2683).

2. L. Carati et al, Attenuation of influenza-like symptomatology and improvement of cell-mediated immunity with long-term N-acetylcysteine treatment., Eur Respir J. 1997 Jul;10(7):1535-41).

3. M Mata et al, N-acetyl-L-cysteine (NAC) inhibit mucin synthesis and pro-inflammatory mediators in alveolar type II epithelial cells infected with influenza virus A and B and with respiratory syncytial virus (RSV)., Biochem Pharmacol. 2011 Sep;82(5):548-55.

4. D Ungheri et al, Protective effect of n-acetylcysteine in a model of influenza infection in mice., Int J Immunopathol Pharmacol. 2000 Sep-Dec;13(3):123-128.

5. RH Zhang et al, N-acetyl-l-cystine (NAC) protects against H9N2 swine influenza virus-induced acute lung injury., Int Immunopharmacol. 2014 Sep;22(1):1-8).

6. LD Horwitz, Bucillamine: a potent thiol donor with multiple clinical applications, Cardiovasc Drug Rev. 2003 Summer;21(2):77-90).

Investor Announcement

TORONTO, April 03, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV), a life sciences company, has learnt that buy recommendations and letters are being circulated in Germany. The Company, along with the Federal Financial Supervisory Authority of Germany (“BaFin”) suggests shareholders fully understand these materials.

BaFin advises all investors to check the information given in the buy recommendations by consulting sources, especially if the buy recommendations are made in an aggressive way and investors are signalled the prospect of higher profits.

In Germany, the company’s shares are traded in the Open Market (Freiverkehr) segments of the Frankfurt and Stuttgart stock exchanges and on Tradegate. Investors can find information in a brochure published by BaFin, which is only available in German.

“Investors can visit its website, www.revivethera.com, for up-to-date information pertaining to the Company and its continuing research and development efforts,” states Michael Frank, the Chief Executive Officer of Revive. Revive has not paid any compensation for activity that addresses target prices.”

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 Buccilamine for the potential treatment of infectious diseases.  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 in the past 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.

For more information please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.

Tel: 1 888 901 0036
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.com

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

Revive Therapeutics Announces Filing of FDA Pre-IND Meeting

TORONTO, April 03, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV), a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, announced today that it has filed its Pre-Investigational New Drug (“pre-IND”) meeting request with the U.S. Food and Drug Administration (“FDA”) for Bucillamine in the treatment of the coronavirus disease (“COVID-19”). The Company will rely on its previous FDA IND submissions of Bucillamine to expedite communications and obtain FDA acceptance to proceed to a phase 2 clinical study. The Company has previously been granted Phase 2 study approval for the treatment of Gout and Cystinuria with Bucillamine.

Revive, along with the assistance of Pharm-Olam, LLC. is finalizing the clinical study protocol to advance to a Phase 2 clinical trial in the U.S. The proposed Phase 2 clinical study contemplates a multi-center, randomized, double-blind, placebo-controlled, clinical study of Bucillamine in patients with mild to moderate symptoms. The proposed objectives of the study are to evaluate disease course in patients receiving Bucillamine therapy compared to a placebo, the safety of Bucillamine therapy when administered up to 14 days, and the time to clinical improvement in patients with symptoms receiving Bucillamine compared with a placebo.

“We are excited to expedite the clinical investigation of Bucillamine in a proposed phase 2 clinical study in the U.S., and we believe our history with the FDA for Bucillamine will provide a compelling case”, said Michael Frank, Revive’s Chief Executive Officer. “We will also seek to expand the clinical investigation of Bucillamine in Asian regions, with a particular interest in Japan and South Korea where Bucillamine has been prescribed for treating arthritis for over 30 years. We are in discussion with various contract research organizations (‘CRO’) in these regions.”

Innovative therapies to treat and modify the natural course of the disease are urgently needed. Preclinical and clinical studies have demonstrated that reactive oxygen species contribute to the destruction and programmed cell death of pulmonary epithelial cells.1 N-acetyl-cysteine (NAC) has been shown to significantly attenuate clinical symptoms in respiratory viral infections in animals and humans, primarily via donation of thiols to restore antioxidant and to reduce the activity of cellular glutathione 2,3,4,5. Bucillamine (N-(mercapto-2-methylpropionyl)-l-cysteine) has a well-known safety profile and is prescribed in the treatment of rheumatoid arthritis in Japan and South Korea for over 30 years.  Bucillamine, a cysteine derivative with two thiol groups, has been shown to be 16 times more potent as a thiol donor in vivo than NAC 6. The drug is non-toxic with high cellular permeability. The basis of the clinical study will analyze if Bucillamine has the potential, via restoration of glutathione activity and other anti-inflammatory activity, to lessen the negative consequences of influenza and SARS CoV2 infection in the lungs and to help treat these conditions.

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 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 was previously 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.

For more information, please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.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” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s 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 Offering, including the intended use of proceeds. Forward-looking information is based on reasonable assumptions that have been made by Revive 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 Revive 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. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.

References

1. S Ye et al, Inhibition of Reactive Oxygen Species Production Ameliorates Inflammation Induced by Influenza A Viruses via Upregulation of SOCS1 and SOCS3., American Society for Microbiology. 2015 Mar;89(5):2672-2683).

2.  L. Carati et al, Attenuation of influenza-like symptomatology and improvement of cell-mediated immunity with long-term N-acetylcysteine treatment., Eur Respir J. 1997 Jul;10(7):1535-41).

3.  M Mata et al, N-acetyl-L-cysteine (NAC) inhibit mucin synthesis and pro-inflammatory mediators in alveolar type II epithelial cells infected with influenza virus A and B and with respiratory syncytial virus (RSV)., Biochem Pharmacol. 2011 Sep;82(5):548-55.

4.  D Ungheri et al, Protective effect of n-acetylcysteine in a model of influenza infection in mice., Int J Immunopathol Pharmacol. 2000 Sep-Dec;13(3):123-128.

5.  RH Zhang et al, N-acetyl-l-cystine (NAC) protects against H9N2 swine influenza virus-induced acute lung injury., Int Immunopharmacol. 2014 Sep;22(1):1-8).

6. LD Horwitz, Bucillamine: a potent thiol donor with multiple clinical applications, Cardiovasc Drug Rev. 2003 Summer;21(2):77-90).

MindMed Acquires Exclusive License to Eight Clinical Trials of LSD, Partners with World-Leading Psychedelic Research Laboratory at University Hospital Basel

Basel, Switzerland (April 1, 2020): Mind Medicine (MindMed) Inc. (NEO: MMED OTC: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines, today announced the signing of a multi-year, branch exclusive collaboration with the laboratory of Professor Dr. Matthias Liechti, the world-leading psychedelics pharmacology and clinical research group at University Hospital Basel in Switzerland.

Under the agreement, MindMed gains exclusive worldwide rights to data, compounds, and patent rights associated with the Liechti laboratory’s research with LSD and other psychedelic compounds, including data from preclinical studies and eight completed or ongoing LSD clinical trials. MindMed has already begun working with Professor Dr. Liechti’s laboratory to file patents for the data and clinical trials it has generated over a 10-year period.

MindMed is particularly interested in the data and outcome of an ongoing placebo controlled Phase 2 trial of high dose LSD for the treatment of anxiety. The active arm of the Phase 2 trial is evaluating two single-dose administrations of LSD for the treatment of persons suffering from anxiety symptoms. MindMed is contemplating the creation of a drug development program using hallucinogenic doses of LSD for the treatment of anxiety disorders.

“It’s a wonderful moment for our company to be recognized by Professor Dr. Liechti, the leading expert of LSD research in the world, as the right team to partner with in continuing our development of psychedelic inspired medicines,” said MindMed Co-Founder & Co-CEO JR Rahn.  “This exclusive partnership puts MindMed at the forefront of efforts to develop LSD and other psychedelics while also setting the tempo and caliber of our growing IP portfolio and clinical trial pipeline.”

Basel, Switzerland is the birthplace of LSD and the University Hospital Basel, the world’s leading center for LSD research, is led by Professor Dr. Matthias Liechti, a professor for clinical pharmacology and internal medicine at the University of Basel and an attending physician at the Division of Clinical Pharmacology and Toxicology of the University Hospital Basel where he also heads the psychopharmacology research group.

MindMed will support ongoing and planned clinical trials under the direction of Professor Dr. Liechti, including MindMed’s planned micro-dosing study of LSD as a potential treatment for adult ADHD. Professor Dr. Liechti will have primary responsibility for development of the selected compounds, and MindMed will provide research funding and milestone payments in return for the exclusive license to existing and future data and IP generated from these clinical trials. The University Hospital Basel will receive royalties and development revenue on any products marketed through the collaboration.

“Over the past decade we have amassed the largest collection of clinical trials around LSD; we have been studying the pharmacology and potential medical uses of LSD and other psychedelics for many years in the laboratory, in patients, and in healthy volunteers,” said Professor Dr. Liechti. “MindMed is the leading company with a similar mission to ours to use rigorous research and science to create mainstream medicines for neuro-psychiatric conditions. This collaboration now allows us to greatly accelerate our groundbreaking research.”

###

About Liechti Laboratory (University Hospital Basel)

Liechti Lab is based at the University Hospital Basel in Basel Switzerland.  Founded in 1460, the University of Basel is the oldest university in Switzerland and has a history of success going back over 550 years. Liechti Lab’s research focus is on the pharmacology of psychoactive substances in vitro and in humans. The Laboratory investigates the pharmacokinetics-pharmacodynamics of MDMA, LSD, and amphetamines in humans including psychological tests, pharmacogenetics, and functional brain imaging.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTC: MMEDF and in Germany under the symbol DE:BGHM.

Cautionary Statements and Disclaimer: This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies of MindMed, the anticipated date of completion of the LSD high-dosing studies, the success of other clinical trials and the ability to use the information relating to, or obtain patents or other intellectual property protection on, other data and clinical trials generated by the laboratory of Professor Dr. Liechti.  Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 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 MindMed’s management’s discussion and analysis for the period from May 30, 2019, date of incorporation, to December 31, 2019 (“MD&A”), dated March 30, 2020, which is available on MindMed’s website and the company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither the Neo Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Neo Exchange) accepts responsibility for the adequacy or accuracy of this news release.

CHAMPIGNON APPOINTS UNIVERSITY OF TORONTO CLINICAL INSTRUCTOR, PHARMACOGNOSIST TO SPECIAL ADVISORY COMMITTEE

VANCOUVER, British Columbia, March 31, 2020 – Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTC: SHRMF), a human optimization sciences company focused on applying novel and natural treatment protocols to address a broad range of disorders and deficiencies with an emphasis on psychedelic medicine, continues to augment its Special Advisory Committee with the addition of key individuals experienced in highly regulated industries primed for rapid growth. To this accord, the Company is pleased to announce the appointment of Mr. Jay Kheita, ACPR, to its Special Advisory Committee, where he will help lead the integration of Champignon’s novel and natural treatment protocols into its existing consumer packaged goods (“CPGs”) portfolio.

Champignon’s Special Advisory Committee continues to evaluate the potential positive effects of its novel and natural treatment protocols and ongoing pre-clinical trials on individuals suffering from indications such as depression, post traumatic stress disorder (PTSD), traumatic brain injuries (TBI), obsessive compulsive disorder (OCD), as well as substance and alcohol use disorders.

Mr. Khetia holds pharmacy licences in Canada, Australia and England and is a graduate of the University of Brighton, where he achieved an honours degree in pharmacy specializing in pharmacognosy, the study of medicinal plants. Khetia is also a founder of AltMed Capital Corp., a leading Canadian psychedelic medicine clinic operator, IP aggregator and solutions provider, and is currently a Clinical Instructor at the Leslie Dan faculty of pharmacy at the University of Toronto.

Khetia strongly believes that alternative health innovations have the potential to treat patients for various chronic diseases, including PTSD, depression and anxiety, thus creating a strong synergy with Champignon’s ongoing psychedelic medicine focused studies and pre-clinical activities.

Gareth Birdsall, CEO of Champignon stated, “We are pleased to welcome Jay to Champignon’s Special Advisory Committee, where he will function as a cornerstone advisor throughout our pursuit to develop and deploy precision medicine focused formulations and delivery systems.”

About Champignon Brands Inc.

Champignon Brands Inc. (CSE: SHRM) (FWB: 496) (OTC: SHRMF) is a research-driven company specializing in the formulation of a suite of medicinal mushrooms health products, as well as novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutritional, wellness and alternative medicine industries. Via its vertically integrated alternative medicine product range, Champignon is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (PTSD), as well as substance and alcohol use disorders. Under a collaborative research agreement with the University of Miami’s Miller School of Medicine, the Company is conducting pre-clinical studies and eventual human clinical trials, with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or stand-alone PTSD. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the Company’s website at: https://braxiascientific.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

W. Gareth Birdsall
CEO & Director
E: info@champignonbands.com
T: +1 (778) 549-6714

FOR INVESTOR INQUIRIES:
Tyler Troup
Circadian Group
E: SHRM@braxiascientific.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

FOR CORPORATE COMMUNICATIONS:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
+1 (212) 418-1217 Office
Editor@NetworkWire.com

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

MindMed Reports Year-end Results and Corporate Update

New York City, NY (March 30, 2020): Mind Medicine (MindMed) Inc. (NEO: MMED OTC: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines, today announced the release of its audited consolidated financial statements (the “Financial Statements”) and accompanying management’s discussion and analysis (the “MD&A”) for the period from May 30, 2019, date of incorporation, to December 31, 2019 (the “period ended December 31, 2019”). All financial figures contained herein are expressed in U.S. dollars (“USD”) unless otherwise noted.

For readers of the Financial Statements and MD&A, it is important to note that on February 27, 2020, Mind Medicine, Inc. (“MindMed Delaware”), a private Delaware corporation and now a wholly-owned subsidiary of MindMed, completed a reverse takeover transaction with Broadway Gold Mining Ltd. (“Broadway”) to form Mind Medicine (MindMed) Inc.  MindMed Delaware is deemed to be the acquirer in the reverse takeover transaction and therefore MindMed Delaware’s audited consolidated financial statements for the period ended December 31, 2019 are deemed to be those of MindMed and are the Financial Statements released today.  Please see Note 16 “Subsequent Events” of the Financial Statements for more information.

Fourth Quarter and 2019 Highlights and Subsequent Events

  • MindMed was founded in May 2019, and completed a number of capital raises for aggregate proceeds of US$30,377,027, including US$19,573,441 after period end, making it very well capitalized in the psychedelic medicine industry.
  • MindMed acquired the rights to 18-MC drug development program in the period ended December 31, 2019 and established an addiction drug development program focused on addressing the U.S. opioid crisis.
  • MindMed secured a leading team of pharmaceutical industry veterans and advisors with deep experience of psychedelics over the course of 2019, solidifying its position as a leader in the psychedelic medicines industry.
  • MindMed further assembled the infrastructure in the period for its unique drug development platform to discover, develop and deploy psychedelic inspired medicines. As part of this process, the Company actively pursued its strategy to further grow its clinical trial collaborations and intellectual property (IP) acquisitions during this period.
  • The Company established a psychedelics microdosing division and began preparing a Phase 2 trial for microdosing of LSD for the treatment of adult ADHD.

Outlook and Update

  • MindMed continues advancing the development of its 18-MC drug development program through further human safety studies and is targeting to begin its Phase 2 trial of 18-MC by the end of the year.
  • MindMed is actively pursuing new collaborations, acquisitions of IP and clinical trials to build the most compelling pipeline and portfolio of psychedelic inspired medicines.

 

Financial Results

Overview

Since inception, we have incurred losses while advancing the research and development of our products. Net loss for the period ended December 31, 2019 was US$5,474,214. The net loss was due primarily to compensation paid to management of US$1,173,538 and legal fees of US$1,045,048.

Research and Development

Research and development expenses by program for the period ended December 31, 2019 were as follows (all amounts in U.S. dollars)(1):

18-MC program(1) $645,192
LSD program (Note 1) 863,414
Non-program specific (Note 1) 540,438
Total $2,049,044

Note:

(1)    Research and development expenditures in the above table include all direct and indirect costs for the programs, personnel costs, intellectual property.

General and Administrative

General and administrative expenses for the period ended December 31, 2019 were US$3,105,170 and consisted of  consulting fees, short-term benefits and other compensation, legal fees, accounting and audit, marketing, travel and other, and primarily related to the establishment of MindMed and its operations, the acquisition of 18-MC and related activities.

Cash and Working Capital

Our cash and working capital at December 31, 2019 were US$3,016,445 and US$4,775,341 respectively. The increase in cash was due mainly to the US$9,902,052 of net financings, net of the cash used in operations of US$3,199,710 and the funds held in trust of US$3,685,897. The increase in working capital was due mainly to the net financings of US$9,902,052, net of the loss of US$5,474,214.

Cash flows from operating activities

Cash used in operating activities of $3,199,710 for the period ended December 31, 2019 was due mainly to the net loss of US$5,474,214 partially offset by an increase in accounts payable and accrued liabilities of US$1,961,199.

Cash flows from financing activities

Cash provided by financing activities totaled US$9,902,052 for the period ended December 31, 2019. The funds arose from:

·       In July 2019, we issued 35,000,000 Class B common shares at a price of US$0.0001 per share for gross proceeds of US$3,500.

·       In September 2019, we completed a non-brokered private placement financing of common shares, selling 45,972,630 Class C common shares (“Class C Shares”) at a price of US$0.10 per share for gross proceeds of US$4,597,263. Additionally, we settled an outstanding loan of US$100,000 and interest owing of US$2,104 through the issuance of 1,021,041 Class C Shares to a member of the board of directors.

·       In September 2019, we sold 10,000,000 Class D common shares (“Class D Shares”) to two members of the board of directors, at a price of US$0.10 per share yielding gross proceeds of US$1,000,000.

·       In December 2019, we completed the first tranche of a brokered private placement as well as a concurrent non-brokered private placement, issuing a total of 18,771,897 Class D Shares at a price of CAD$0.33 ($0.25) per share for gross proceeds of US$4,727,106, before deducting cash share issuance costs of US$442,921. On closing of the first tranche, we issued the agent 313,472 broker warrants (“Broker Warrants”) and paid a cash advisory fee of CAD$178,295 and issued 1,000,561 advisory warrants (together with the Broker Warrants, the “Compensation Warrants”) to the agent. Each Compensation Warrant is exercisable to acquire one Class D Share at a price of CAD$0.33 per share expiring March 3, 2021.

Appointment of Interim Chief Financial Officer

MindMed also announced the retirement of Paul Van Damme as Chief Financial Officer effective April 1, 2020 and the appointment of David Guebert as interim Chief Financial Officer, subject to regulatory approval.

Mr. Guebert is a CPA, qualified in both Alberta and Pennsylvania, and a Member of the Institute of Corporate Directors.  He currently sits as a board member and Audit Committee Chair for Legend Power Systems, RMMI Inc. and Quisitive Technology Solutions, Inc.  From 2010 to 2017, he was board member and Audit Committee Chair of Merus Labs International Inc., a specialty pharmaceutical company.  He started his career in 1979 at Deloitte and since then has taken on increasing senior roles, acting as Chief Financial Officer for a number of companies, including most recently Mount Logan Capital Inc.

Mr. Guebert has signed a six-month contract to serve as the Chief Financial Officer while the Company completes a comprehensive search for a permanent replacement for Mr. Van Damme.  The board of directors of MindMed thanks Mr. Van Damme for his service to MindMed and his invaluable contributions in establishing the company and completing its financings and listing on the Neo Exchange, and wishes him well in his future endeavours.

Fourth Quarter and Year End 2019 Results Webcast

MindMed will be hosting a conference call and webcast on Wednesday, April 1, 2020 at 11:00 a.m. Eastern Time to discuss these results.

Webcast and call-in details are as follows:

Topic: MindMed Year-End Results and Corporate Update

Date of call: Wednesday, April 1, 2020

Time of call: 11:00a.m. ET

Conference ID: 2176839

Participant Toll Free Dial-In Number: (866) 497-6293

Participant International Dial-In Number: (825) 312-2348

Webcast URL: https://event.on24.com/wcc/r/2253341/3F84DD7CA57EC079F5387A5D2E5101DD

A replay of the webcast will be available at www.mindmed.co.

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for Adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. For more information: www.mindmed.co.

MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbol OTC: MMEDF and in Germany under the symbol DE:BGHM.

Cautionary Statements and Disclaimer: This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies of MindMed, the anticipated date of completion of micro-dosing studies, the timing of any drug trials, the success of its clinical trials and the ability to enter into acquisitions or collaborations to enhance its drug development platform.  Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of MindMed to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and MindMed disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither the Neo Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Neo Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Revive Therapeutics Provides Corporate Update on its COVID-19 and Infectious Diseases Programs

TORONTO, March 30, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV), a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, is pleased to provide a corporate update on its plans for the Company’s coronavirus disease (“COVID-19”) and infectious diseases programs. The Company seeks to advance its product pipeline to human clinical studies in regions where its products have regulatory approval to investigate in clinical studies and are approved for sale, such as the U.S. and in Asia-Pacific Countries (“APAC”).

“We have strengthened our scientific and clinical team that will allow us to pursue the clinical development of Bucillamine in the potential treatment of not only COVID-19 but also other infectious diseases and we are seeking to advance Bucillamine for COVID-19 towards a potential U.S. FDA Phase 2 clinical study and a clinical study in one of the APAC countries,” said Michael Frank, Revive’s Chief Executive Officer. “Revive has built a robust product pipeline that has a particular focus on infectious diseases and rare disorders and is discovering and developing new therapeutic uses of drugs such as Bucillamine, Psilocybin and Cannabidiol.  We are steadily advancing our product development programs that will unlock the potential value of Revive and we are continuing to expand our product pipeline in infectious diseases and rare disorders.”

The Company is currently focused on advancing the clinical development for Bucillamine, which has a proven safety profile and has been prescribed for arthritis in Japan and South Korea for over 30 years and is being repurposed by the Company as a potential treatment of infectious diseases, including COVID-19.  Revive has applied for a provisional patent with the U.S. Patent and Trademark Office entitled “Use of Bucillamine in the Treatment of Infectious Diseases” (Serial No. 62/991,996) and the Company is targeting COVID-19 as its lead indication.  In the past, the Company has explored the use of Bucillamine in the treatment of acute gout flares in a Phase 2 study in the U.S. under its Investigational New Drug (“IND”) application that was granted and accepted by the U.S. Food and Drug Administration (“FDA”).  Additionally, the Company has explored the use of Bucillamine in the treatment of cystinuria where it has received FDA orphan drug status and its IND was also accepted by the FDA to conduct a Phase 2 study in the U.S.

The Company is leveraging its U.S. FDA regulatory and clinical experience with Bucillamine to further its clinical initiatives with Bucillamine for the potential treatment of COVID-19 and other infectious diseases.  Revive has taken the necessary steps to unlock the full potential of Bucillamine for infectious diseases, including COVID-19, by strengthening its scientific and clinical development team to realize the potential commercial value of the Company’s product pipeline. The Company recently announced it has engaged Dr. David Boulware, MD, MPH, an internationally recognized infectious disease expert and Professor of Medicine, Division of Infectious Diseases and International Medicine at The University of Minnesota, who is currently the Principal Investigator of a globally recognized COVID-19 clinical trial (ClinicalTrials.gov Identifier: NCT04308668).  The Company has also retained Pharm-Olam, LLC, with proven clinical experience in infectious diseases completing over 100 clinical studies in approximately 19,000 patients at over 2,000 clinical sites, to serve as the Company’s Contract Research Organization (“CRO”) to advance the future clinical study for Bucillamine in the treatment of COVID-19 and potentially other infectious diseases.  In addition, Revive has added Dr. Kelly McKee, Jr., MD, MPH as Chief Scientific Officer consultant, bringing over 30 years of experience in research and development expertise in vaccines, emerging diseases, biodefense, respiratory viral infections,  and Dr. Onesmo Mpanju, PhD as Regulatory Affairs consultant, having nearly 30 years of drug regulatory experience and a past reviewer at the U.S. FDA, Center for Biologics Evaluation & Research and a key consultant to the Bill & Melinda Gates Foundation.

The Company is finalizing its regulatory package and clinical study plan for Bucillamine in the treatment of COVID-19 and it will submit for regulatory approval, by way of an IND application submission to the U.S. FDA, to investigate Bucillamine in a proposed Phase 2 clinical study.  Revive will also seek to expand the clinical investigation of Bucillamine for COVID-19 in APAC regions, with a particular interest in Japan and South Korea.

Scientific Rationale for the Investigation of Bucillamine to Treat Infectious Diseases including COVID-19

Current antiviral interventions for influenza have exhibited modest efficacy, especially in improving mortality in at-risk populations, such as the elderly.1,2  Novel antivirals have been plagued by poor oral bioavailability and lack of efficacy when not delivered early.1 This is because these drugs mostly act to prevent the early processes of virus binding to cells or viral replication.2  Thiols, particularly N-acetylcysteine (NAC), with antioxidant and reducing activity have been investigated as effective therapies that abrogate the potential for influenza to cause severe disease.3,4,5  Restoration of glutathione, the major intracellular thiol antioxidant, is a critical functional activity of NAC.6  Reactive oxygen species (ROS) generation during influenza virus infection aggravate destructive inflammation and programmed death of epithelial cells.7  Studies in human cells and animal models have shown that NAC works to prevent acute lung injury caused by influenza virus infection through inhibition of these ROS-mediated mechanisms.4,7  NAC has been investigated clinically and found to significantly attenuate clinical symptoms associated with influenza infection, especially in elderly at-risk patients.5  While NAC is easily taken up by cells and has low toxicity, clinical efficacy has required long-term and high-dose administration because of modest relative potency, limiting its clinical applicability.

Bucillamine (N-(mercapto-2-methylpropionyl)-l-cysteine), which has a well-known safety profile and is prescribed in the treatment of rheumatoid arthritis in Japan and South Korea for over 30 years, is a cysteine derivative with 2 thiol groups that is 16-fold more potent than NAC as a thiol donor in vivo, giving it vastly superior function in restoring glutathione and therefore greater potential to prevent acute lung injury during influenza infection.8  Bucillamine has also been shown to prevent oxidative and reperfusion injury in heart and liver tissues8 and is highly cell permeable for efficient delivery into cells.8,9  Bucillamine has unrealized potential for the treatment of influenza with both proven safety and proven mechanism of action similar to that of NAC, but with much higher potency, mitigating the previous obstacles to using thiols therapeutically. It is also reasonable to hypothesize that similar processes related to ROS are involved in acute lung injury during nCov-19 infection, possibly justifying the investigation of bucillamine as an intervention for COVID-19.

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 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 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.

For more information, please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.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” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s 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 Offering, including the intended use of proceeds. Forward-looking information is based on reasonable assumptions that have been made by Revive 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 Revive 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. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.

References

1. Muthuri SG, Venkatesan S, Myles PR et al. Effectiveness of neuraminidase inhibitors in reducing mortality in patients admitted to hospital with influenza A H1N1pdm09 virus infection: a meta-analysis of individual participant data Lancet Respir Med. 2014 May;2(5):395-404. doi: 10.1016/S2213-2600(14)70041-4.

2. Duwe S. Influenza viruses – antiviral therapy and resistance. GMS Infect Dis. 2017; 5: Doc04.

3. Zhang RH, Li CH, Wang CL et al. N-acetyl-l-cystine (NAC) protects against H9N2 swine influenza virus-induced acute lung injury. Int Immunopharmacol. 2014 Sep;22(1):1-8. doi: 10.1016/j.intimp.2014.06.013.

4. Ungheri D, Pisani C, Sanson G et al. Protective effect of n-acetylcysteine in a model of influenza infection in mice. Int J Immunopathol Pharmacol. 2000 Sep-Dec;13(3):123-128.

5. De Flora S, Grassi C, and Carati L. Attenuation of influenza-like symptomatology and improvement of cell-mediated immunity with long-term N-acetylcysteine treatment. Eur Respir J 1997; 10: 1535–1541 DOI: 10.1183/09031936.97.10071535

6. Poole LB. The Basics of Thiols and Cysteines in Redox Biology and Chemistry. Free Radic Biol Med. 2015 Mar; 0: 148–157. doi: 10.1016/j.freeradbiomed.2014.11.013.

7. Mata M, Morcillo E, Gimeno C, Cortijo J. N-acetyl-L-cysteine (NAC) inhibit mucin synthesis and pro-inflammatory mediators in alveolar type II epithelial cells infected with influenza virus A and B and with respiratory syncytial virus (RSV). Biochem Pharmacol. 2011 Sep 1;82(5):548-55. doi: 10.1016/j.bcp.2011.05.014.

8. Horowitz LD. Bucillamine: a potent thiol donor with multiple clinical applications. Cardiovasc Drug Rev. 2003 Summer;21(2):77-90.

9. Sagawa A, Fujisaku A, Ohnishi K et al. A multicentre trial of bucillamine in the treatment of early rheumatoid arthritis (SNOW study). Mod Rheumatol. 2011 Jun;21(3):251-7. doi: 10.1007/s10165-010-0385-4

CHAMPIGNON EXPANDS PRECLINICAL PIPELINE WITH MEASURED PSILOCYBIN DOSAGES STUDIES AT UNIVERSITY OF MIAMI

VANCOUVER, British Columbia, March 27, 2020 – Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTC: SHRMF), a health and wellness company specializing in the formulation of medicinal mushrooms health products and novel delivery platforms for the pharmaceutical and nutraceutical industries, has entered into a definitive agreement to acquire Tassili Life Sciences Corp. (“Tassili”), expanding the Company’s preclinical trial pipeline, as well as its aggregation of broad intellectual property (IP) related to the development of novel psychedelics therapeutics and their delivery systems, targeting multiple pathological psychological diseases.

Tassili, in partnership with a multidisciplinary team of scientists and physicians at the University of Miami are working to develop effective psilocybin-based therapeutics for the treatment of mild traumatic brain injuries (mTBI) and/or post-traumatic stress disorder (PTSD).

TRIALS UNDERWAY

Under a collaborative research agreement with the University of Miami’s Miller School of Medicine (“U of M”), Tassili will conduct preclinical studies and eventual human clinical trials with the objective of demonstrating safety and efficacy of the combination of psilocybin and cannabidiol in treating mTBI with PTSD or standalone PTSD.  Final results are expected in 2021.

Under the terms of the agreement with U of M, Tassili will retain all exclusive rights to inventions, data and IP discovery resulting from the studies which are being led by Dr. Michael Hoffer, professor of otolaryngology and neurological surgery at University of Miami’s Miller School of Medicine.

“Mild traumatic brain injury, especially concussion, is a significant cause of morbidity worldwide,” said Dr. Hoffer. “What many do not realize is that TBI often occurs alongside PTSD. Up to 40% of people impacted by mTBI, a head injury causing a temporary change in mental status or consciousness, or TBI in general, also suffer from PTSD. This combination of mTBI and PTSD is even more common in U.S military members and presents a vast patient population to service and potentially heal with our novel therapeutics under development.”

PSILOCYBIN PATENT PORTFOLIO

Tassili has filed four provisional patents, one of which relates to its ongoing study with the University of Miami. In collaboration with university research institutes, Tassili intends to demonstrate that the clinical and physiological effectiveness in PTSD and obsessive-compulsive disorder (OCD) are enhanced by timely measured dosages of psilocybin and cannabidiol, with superior clinical results as measured by objective outcomes.

Management’s vision is to administer a proven and proprietary combination of psilocybin and CBD in certified drug as well as psychotherapeutic clinics once human clinical trials are completed and the combination is approved by applicable regulatory agencies.

Management also believes that increased specificity to ensure approved, appropriate, standardized and dignified methods of treatment will result from novel delivery systems suiting recovery solutions to specific indications.  Three of the Company’s provisional patents relate to this important part of the drug to patient relationship.

George Scorsis, Chairman of Tassili, stated, “Our development program is championed by the University of Miami, a major U.S. research institution with a worldwide reputation in TBI research and treatment. Working with the University of Miami we aim to shift the mainstream perceptions about psychedelics by establishing the scientific underpinnings of the two compounds’ medical benefits and then developing a prescription-based therapeutic medicine for this combined disorder and a number of other disorders on the horizon, such as obsessive-compulsive disorder (OCD).”

TERMS

Under the terms of the agreement, Champignon will acquire 100% of the issued and outstanding shares of Tassili for total consideration of 16 million common shares in the capital of the Company. A finder’s fee is applicable to this transaction.

About Champignon Brands Inc.

Champignon Brands Inc. (CSE: SHRM) is a research-driven company specializing in the formulation of a suite of medicinal mushrooms health products, as well as novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutritional, wellness and alternative medicine industries. Via its vertically integrated alternative medicine product range, Champignon is pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder (PTSD), as well as substance and alcohol use disorders. Champignon continues to be inspired by sustainability, as its medicinal mushroom-infused SKUs are organic, non-GMO and vegan certified. For more information, visit the Company’s website at: https://braxiascientific.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

W. Gareth Birdsall
CEO & Director
E: info@champignonbands.com
T: +1 (778) 549-6714

FOR INVESTOR INQUIRIES:
Tyler Troup
Circadian Group
E: SHRM@braxiascientific.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

FOR CORPORATE COMMUNICATIONS:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
+1 (212) 418-1217 Office
Editor@NetworkWire.com

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

AIkido Pharma Inc. Provides Update on Timing of Record Date and Anticipated Distribution Date for Dividend Distribution

NEW YORKMarch 27, 2020 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that the record date and distribution date to our stockholders of shares of Hoth Therapeutics, Inc. (“Hoth”) will be deferred because of the requirement that the shares be registered prior to distribution.  AIkido will provide a record date and distribution date for the distribution of the shares promptly once the registration statement is declared effective and will issue an update to shareholders in two weeks on the status of this matter.

(PRNewsfoto/AIkido Pharma Incorporated)

About AIkido

AIkido was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:     

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

AIkido:       

Phone: 212-745-1373

Email: investorrelations@AIkido.com

www.AIkido.com

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/aikido-pharma-inc-provides-update-on-timing-of-record-date-and-anticipated-distribution-date-for-dividend-distribution-301031161.html

SOURCE AIkido Pharma Inc.

News Provided by PR Newswire via QuoteMedia

AIkido Issues Shareholder Update on COVID-19, Dividend, And Path Forward

NEW YORKMarch 26, 2020 /PRNewswire/ — AIkido Pharma Incorporated (Nasdaq: AIKI) today provided an update onto shareholders as follows:

Dear Fellow Shareholder,

AIkido Pharma is financially secure.  We raised sufficient capital to both survive and potentially thrive during the turbulent times brought about by the COVID-19 virus.  In fact, we are in a position to acquire additional assets moving forward and we are investigating other opportunities.  When this crisis passes, which it will, it is my goal for AIkido to be stronger and more diversified than when the crisis started.

We have received many questions about the COVID-19 option previously announced.  As we said in our March 18, 2020 press release, we are actively investigating the technology.  If the technology is viable, and reasonable licensing terms that inure to the benefit of our shareholders can be negotiated, we will move forward with development.  But the converse is also true, and each shareholder should understand that we may not secure a license on the previously announced technology.  There are several research projects ongoing regarding potential treatments for COVID-19, and each of these projects requires funding. We are continuing to vet opportunities in this area.  We remain committed to keeping you informed and will provide information as it comes available.

We have also received questions about the timing of the Hoth stock dividend.  We are anxious to deliver these shares to our shareholders, but it’s not the Company that is holding up the distribution.  We are working with Hoth and the appropriate regulatory agencies to effectuate the transfer.  As soon as we are able, we will make this distribution.  We are aware that this has been a slow and potentially frustrating process.  I apologize for any frustration you are experiencing, and I assure you that I am committed to delivering this dividend as soon as we are able.

Finally, AIkido is being proactive in this time of crisis.  We accept the challenge issued to companies and we pledge to not layoff any employees as a result of the current pandemic.  For the Company, this includes not laying off our contract employees.  We are further looking to see if we can reach out and help our communities at this time of crisis.  We have begun discussions with other businesses to investigate avenues of help, such as short-term hiring of newly unemployed workers, to assist our fellow Americans.  Whether you define this as a moral duty, a civic duty, or just the right thing to do, we are doing it.  Again, our decisive and strategic decision to raise capital at the start of the crisis, has put us in a position to help those less fortunate, and to survive this crisis stronger than when the crisis started.

I want to thank each of you for being a shareholder and we will be providing more information about these issues as they become available.

Sincerely,

Anthony Hayes

About AIkido

AIkido was initially formed in 1967 and is currently a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

AIkido:

Phone: 212-745-1373

Email: investorrelations@AIkido.com

www.AIkido.com

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/aikido-issues-shareholder-update-on-covid-19-dividend-and-path-forward-301030403.html

SOURCE AIkido Pharma Incorporated

News Provided by PR Newswire via QuoteMedia