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Wesana Health Announces Inclusion in the AdvisorShares Psychedelics ETF

Wesana Health Announces Inclusion in the AdvisorShares Psychedelics ETF

CHICAGO and TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) — Wesana Health Holdings Inc.  (“Wesana” or the “Company”) (CSE: WESA; OTCQB: WSNAF), an emerging data driven life sciences company focused on developing innovative approaches for better understanding, protecting and improving neurological health and performance, including through the advancement of psychedelic medicines, is pleased to announce its inclusion in the AdvisorShares Psychedelics ETF (the “Fund”), currently trading under the ticker symbol “PSIL” on the NYSE Arca exchange.

The recently launched Fund primarily focuses its strategy on investing in publicly traded companies in the life sciences, biotechnology and pharmaceuticals sectors that derive at least 50% of their net revenue or devote 50% of their assets to the advancement of psychedelic compounds. The Fund looks to highlight the leaders in the psychedelics sector as their core holdings.

Chad Bronstein, Executive Chairman of Wesana, commented: “We are incredibly pleased to have been selected as a core constituent in the new AdvisorShares Psychedelics ETF. Inclusion in this ETF is another validation in the evolution of Wesana as a publicly traded company and the impact Wesana’s core initiatives have had on the psychedelics sector. By strengthening our shareholder base and improving our visibility in the global investment community, we are excited for the next steps in bringing Wesana’s unique approach to neurological health and wellness to patients across the country.”

You can find additional information on the AdvisorShares Psychedelics ETF here.

About Wesana Health
Wesana Health is an emerging life sciences company championing the development of innovative approaches for better understanding, protecting and improving neurological health and performance. Through extensive clinical research and academic partnerships, Wesana Health is developing evidence-based formulations and protocols, including psilocybin-based therapies, that empower patients to overcome neurological, psychological and mental health ailments. Learn more at www.wesanahealth.com.

Forward-Looking Information and Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws with respect to the Company, including, but not limited to: information concerning completion and timing of completion of the issuance of DRS statements to the former PsyTech shareholders, expectations for the effects of the proposed Transaction, including the potential expansion of the clinic platform of the Company upon completion of the Transaction, expectations regarding the markets to be entered into by the Company as a result of completing the Transaction, the ability of the Company to successfully achieve its business objectives as a result of completing the Transaction, expectations regarding the method by which future revenue is generated, and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, financial position, operational or financial performance or achievements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, will”, “projects”, or “believes” or variations (including negative variations) of such words and phrases, or statements that certain actions, events, results or conditions “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Except for statements of historical fact, information contained herein constitutes forward-looking information.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including among other things assumptions about: development costs remaining consistent with budgets; favorable equity and debt capital markets; the ability to raise sufficient capital to advance the business of the Company; favorable operating conditions; political and regulatory stability; obtaining and maintaining all required licenses and permits; receipt of governmental approvals and permits; sustained labor stability; stability in capital goods markets; the level of demand for the Company’s products and services; the ability of the Company to be successful in its research and development initiatives; and the availability of third party service providers and other inputs for the Company’s operations. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual performance, achievements, actions, events, results or conditions to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct.

Furthermore, such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, financial position, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, financial position, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: research and development of drugs targeting the central nervous system (“CNS”) being particularly difficult; failure to comply with health and data protection laws and regulations; delays in clinical testing resulting in delays in commercializing; inability to file investigational new drug applications to commence clinical trials in a timely manner; difficulty enrolling patients in clinical trials; competition from other biotechnology and pharmaceutical companies; violations of laws and regulations resulting in repercussions; psychedelic inspired drugs possibly never being approved as medicines; regulatory or political change; maintaining and enhancing reputation and brand recognition; reliance on third parties to plan, conduct and monitor preclinical studies and clinical trials; requirements of commercial scale and quality manufactured drug supply; negative results from clinical trials or studies of others; negative operating cash flow and going concern; the detrimental impact of future losses and negative cash flow from operations; requirements for additional capital; lack of product revenue; unfavourable publicity or consumer perception; not achieving publicly announced milestones; reliance on the capabilities and experience of key executives and scientists; disruptions due to acquisitions or collaborations; risk of product liability claims; COVID-19; litigation; conflicts of interest; limited operating history; exposure to the fluctuation of foreign exchange rates; enforcement of judgments and effecting service of process on directors and officers; ability to protect intellectual property; changes in patent law; requirements to share intellectual property with service providers; general economic, market and business conditions, other risks factors including those found in the Company’s annual information form dated September 3, 2021 filed on the Company’s profile on SEDAR at www.sedar.com and discussed in the Company’s other public filings available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided and made as of the date of this news release and the Company does not undertake any obligation to revise or update any forward-looking information other than as required by applicable law.

For more information, please contact:

Investor Contact:
Keenan Gentry
Email: IR@wesanahealth.com
Phone: 773-236-7972

Media Contacts:
Nick Opich / Fallon Carter
KCSA Strategic Communications
Email: Wesana@kcsa.com
Phone: 212-896-1206

On behalf of the Board of Directors:
Daniel Carcillo, Chief Executive Officer
Phone: (773) 236-7972

Source: Wesana Health

Released October 1, 2021

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MindMed Appoints University of North Carolina Psychiatrist and Pharmacologist Dr. Bryan Roth to Scientific Advisory Board

MindMed Appoints University of North Carolina Psychiatrist and Pharmacologist Dr. Bryan Roth to Scientific Advisory Board

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD; NEO: MMED; DE: MMQ; the “Company”), a leading biotech company developing psychedelic-inspired therapies, is pleased to announce the addition of Bryan L. Roth, MD, PhD to its Scientific Advisory Board.

Dr. Roth has spent over 30 years studying molecular neuropharmacology. He is the Michael Hooker Distinguished Professor in the Department of Pharmacology at the University of North Carolina’s (UNC) School of Medicine. He is also the director of the National Institute of Mental Health Psychoactive Drug Screening Program.

Dr. Roth’s research focuses on removing the hallucinogenic effects from psychedelic drugs; eliminating the hours-long hallucinatory trips that may turn some patients away from psychedelic-assisted treatments. He was among the first to publish in the scientific journal, Cell, the structure of how LSD binds to serotonin receptors within the brain. This structure is crucial to help scientists understand why psychedelics can have hallucinogenic and therapeutic effects.

Dr. Roth’s search for drugs that bind to and activate serotonin receptors without causing a psychedelic experience secured a $27 million grant from the Defense Advanced Research Projects Agency , a research and development agency of the US Department of Defense that helps advance emerging technologies. The grant helped fund Ultra Large-Scale-Docking, a computer program which can generate a billion theoretical psychedelic compounds that all score differently in how they activate the 5-HT-2A serotonin receptor. Dr. Roth’s team is studying the compounds Ultra Large-Scale-Docking  identifies which are the likeliest to activate the serotonin receptor without triggering hallucinations.

MindMed CEO Robert Barrow said, “We are thrilled to welcome Dr. Roth to our Scientific Advisory Board. In the pursuit of reimagining mental health and addiction care, we want to ensure the treatments we’re studying are effective and accessible for as many patients as possible. Dr. Roth’s extensive experience in psychiatry and pharmacology will be invaluable in progressing all of our research and development efforts.”

Dr. Roth noted, “Psychedelic compounds like psilocybin have some of the most robust antidepressant effects I’ve ever seen in Phase II studies. But not all patients are comfortable with their treatment program requiring hallucinatory trips. My research, and the perspective I’m excited to bring to MindMed’s drug development programs, focuses on how we can make drugs that are maximally helpful to patients while minimizing discomfort in the treatment process.”

MindMed’s Scientific Advisory Board is composed of a diverse group of members with expertise in psychiatry, neuroscience, and clinical development. The Scientific Advisory Board leverages decades of experience in biotechnology and psychiatry to guide MindMed’s development programs. Members represent institutions such as Johns Hopkins University, New York University Langone Health, Duke University, the National Institutes of Health, Stanford University, and Massachusetts General Hospital

About MindMed

MindMed is a clinical-stage psychedelic medicine biotechnology company that seeks to discover, develop and deploy psychedelic-inspired medicines and therapies to address addiction and mental illness. MindMed 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 MindMed’s approach to developing the next generation of psychedelic-inspired medicines and therapies.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

Forward-Looking Statements

Certain statements in this news release related to the Company constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is 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 “will”, “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “potential” or “continue”, or the negative thereof or similar variations. Forward-looking information in this news release include, but are not limited to, statements regarding MindMed’s Scientific Advisory Board, Dr. Roth’s research in psychedelic drugs and his potential discoveries and the ability of MindMed to leverage the knowledge and expertise of members of its Scientific Advisory Board. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; lack of product revenue; compliance with laws and regulations; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early stage product development; clinical trial risks; regulatory approval processes; novelty of the psychedelic inspired medicines industry; as well as those risk factors discussed or referred to herein and the risks described under the headings “Risk Factors” in the Company’s filings with the securities regulatory authorities in all provinces and territories of Canada which are  available under the Company’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. 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 and does not assume any obligation to update this forward-looking information.

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AIkido Pharma Secures Interest in Electric Truck Maker, Tevva Motors Ltd

AIkido Pharma Secures Interest in Electric Truck Maker, Tevva Motors Ltd

PR Newswire

NEW YORK , Sept. 28, 2021 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that the Company secured an equity interest in Tevva Motors Ltd , an electric truck producer with range extended vehicles on the road now.

 

Tevva Motors Ltd is a UK-based, leading developer of modular electrification systems for medium duty commercial vehicles. Using a system engineering approach, Tevva has developed world-class electric vehicle technology that adheres to the most rigorous of standards to ensure safety, reliability and durability. Tevva’s core proprietary technologies – comprising battery pack and management system, control system, software, and optional range extender – are applicable to almost any current 7.5t – 14t truck and is supplied as a package to OEMs for integration with their vehicles.

Anthony Hayes , CEO of AIkido, noted, “From a commercial standpoint, delivery trucks are a $100 billion global market and demand for a cost effective, zero emission solution is growing by the day. With strategic partners and early customers including, Ryder, Hitachi and UPS, and with Tevva vehicles already being used in their delivery services, Tevva is well positioned to take advantage of this rapidly growing sector.”  Mr. Hayes went on to state, this unique and high growth opportunity represents an opportunity to partake in a rapidly expanding field, with the possibility of an exit in early 2022 as Tevva pursues a public listing.  As we continue to focus on our core business, which is drug development.  However, in our search for opportunities in our space, this unique growth opportunities with strong likelihood for monetization events, was presented to us.  We are always looking to create shareholder value while limiting exposure in exciting and growing industries.  We hope this short-term opportunity becomes an asset for our shareholders, like DatChat.”

About AIkido Pharma Inc.

AIkido Pharma Inc. 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 University of Maryland at Baltimore . Our diverse pipeline of therapeutics includes therapies for pancreatic cancer and prostate cancer. We are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.

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 Pharma Inc.
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com

CisionView original content to download multimedia: https://www.prnewswire.com/news-releases/aikido-pharma-secures-interest-in-electric-truck-maker-tevva-motors-ltd-301386841.html

SOURCE AIkido Pharma Inc.

News Provided by PR Newswire via QuoteMedia

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Numinus Completes Acquisition of Neurology Centre of Toronto

Numinus Completes Acquisition of Neurology Centre of Toronto

Acquisition strengthens clinic portfolio for mental health treatment using psychedelic-assisted therapies

VANCOUVER, BC, Sept. 23, 2021 /CNW/ – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced it has closed its acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of clinical neurologic care. The purchase agreement was previously announced on July 6, 2021.

Founded in 2017 by Dr. Evan Lewis (MD), NCT will operate as the “Neurology Centre of Toronto by Numinus” and continue under Dr. Lewis’ leadership. Dr. Lewis will assume the role of VP, Psychedelic Neurology Services at Numinus. The acquisition expands Numinus’ presence into Ontario, in addition to an existing clinic and research facility in British Columbia, and clinics in Quebec.

Over its years in operation, NCT has established itself as a clinical neurology leader, in particular regarding the use of medical cannabis for both adult and pediatric patients. In addition, NCT has developed a rapid access care model that increases patient throughput, reduces wait times, improves cost-effectiveness and facilitates scaling of services. These developments will form the basis for NCT by Numinus to expand into a clinical neurology centre with specialization in psychedelic neurology.

“NCT by Numinus represents an important paradigm shift in neurologic care,” said Dr. Lewis. “By accounting for both medical and psychological needs while incorporating innovative psychedelic-assisted therapies, we aim to help patients improve their overall quality of life in an integrated and sustainable way.”

“We are honoured to welcome such innovators to Numinus and look forward to working together to advance our mission of delivering transformative healing,” said Payton Nyquvest, Numinus CEO and Chair. “With neurologic care in the Numinus portfolio, we continue to thoughtfully grow our patient and revenue base while increasing access for communities in need. We are excited to further expand our services as pioneers of psychedelic medicine and transformative mental health care.”

Current treatments are limited for neurological disorders such as concussion, migraine, cluster headache, neuropathic pain syndromes and epilepsy, particularly when they have comorbid mental health challenges such as depression and anxiety. Development of novel therapies is needed to address both medical and psychological components of such diseases. Research shows that psychedelic medications such as psilocybin and MDMA open new pathways in the brain that, in conjunction with professional therapy, can treat a host of mental health disorders. NCT by Numinus will explore the application of psychedelic-assisted therapies in neurologic care.

Terms of the agreement:
Numinus paid the following consideration to complete the Transaction:

  • $300,000 in cash upon closing of the Transaction
  • $200,000 in Numinus shares upon closing of the Transaction
  • Future performance-based payments totaling up to $500,000 in Numinus shares

About Numinus
Numinus Wellness (TSX-V: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.

Learn more at www.numinuswellness.com and follow us on LinkedIn, Facebook, Twitter, and Instagram.

About Neurology Centre of Toronto
NCT is a multi-disciplinary, community-based, publicly-funded neurology clinic centrally located in midtown Toronto. NCT utilizes a model of care that brings together neurologists, neurology-related specialists and allied health practitioners to address the complex conditions that affect patients’ health and well-being. The NCT team assesses a wide range of neurologic conditions and provides specialty care in the areas of epilepsy, concussion, brain injury, headache & migraine and the treatment of neurologic disorders with medical cannabis. NCT strives to deliver comprehensive neurologic care organized around its core values of patient-centred care, collaboration, community, health equity and innovation that focuses on transforming the lives of our patients.

Forward-looking statements

This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. 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 forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws. 

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

SOURCE Numinus Wellness Inc.

For further information: May Lee, Communications Manager, Numinus, may.lee@numinus.com; For investor inquiries: Jamie Kokoska, VP, Investor Relations, Numinus, jamie.kokoska@numinus.com

Related Links

https://numinus.ca/

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Havn Life Announces Supply And Distribution Mou With Mycrodose Therapeutics

Havn Life Announces Supply And Distribution Mou With Mycrodose Therapeutics

The partnership is a integral step in the The Company’s path to market in the U.S., achieving one of its most important milestones to-date

Vancouver, BC – Havn Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the “Company” or “Havn Life”)a biotechnology company pursuing standardized extraction of psychedelic compounds for the creation of APIs that support brain health and enhance the capabilities of the mind, is thrilled to announce a partnership with California-based Mycrodose Therapeutics, one of only a few private companies that has been granted a Schedule I License to research four (4) psychedelic compounds including psilocybin, MDMA, DMT, & LSD by the United States Drug Enforcement Agency (DEA).

HAVN Life will work with its partners to export their naturally derived psilocybin to Mycrodose Therapeutics, where it will be used in the development of advanced drug delivery (ADD) systems to treat mental health and cognitive degenerative diseases, as well as be distributed to appropriately licenced customers in the U.S.

“We are excited to have forged this partnership with Mycrodose Therapeutics, building an important link in our supply chain to service our Supply Agreement partners in the US,” says HAVN Life CEO Tim Moore. “Mycrodose Therapeutics has a strong working relationship with the DEA, and is well-suited to manage the highly-regulated distribution requirements for psilocybin in the US. We look forward to building considerable success with them,” he adds.

Mycrodose Therapeutics is an ideal partner for HAVN Life, with a successful track-record of working with the FDA and navigating the clinic trial process, along with a proven track record of core business fundamentals and successful M&A ventures. This partnership in is a very important milestone for The Company, and will be a gateway to any appropriately licensed customer in the U.S., be they research-focused or otherwise.

​​This partnership allows naturally derived GMP psilocybin to be available here in the US for a better price than what is available to companies right now. The partnership also eases the supply chain issues currently facing the hundreds of pharmaceutical companies, research institutions, and nonprofits across the United States that can’t find psilocybin at an affordable price.

“Mycrodose Therapeutics is excited to form this mutually expansive and highly profitable partnership with HAVN Life as their exclusive distributor in the United States of naturally derived GMP psilocybin, GMP psilocybin botanical extract, and GMP psilocybin raw mushroom powder,” says Chad Conner, Chief Executive Officer at Mycrodose Therapeutics. “Today the majority of psilocybin that we find comes from synthetic sources and is lab-grown on E.coli, and we believe that the entourage-effect from psilocybin derived from the whole mushroom will be a very valuable addition to the current supply chain. This partnership helps support our company’s ambitious product development and R&D milestones by offering an alternative to synthetic derived psilocybin at a fraction of the costs, and most importantly this partnership removes all current and future supply chain issues with obtaining GMP psilocybin for our own research and the research of any US-based Institution researching psychedelics.”

With Mycrodose Therapeutics onboard, HAVN Life further consolidates its position as an early mover with its ability to supply companies with high-quality, naturally derived psilocybin as markets open up around the globe, demonstrating itself to be a supply chain leader in the industry.

On Behalf of The Board of Directors

Tim Moore

Chief Executive Officer

About Mycrodose Therapeutics

Mycrodose Therapeutics is a US-Based pharmaceutical company headquartered in San Diego, California specializing in the development of advanced drug delivery systems utilizing psychedelic compounds to treat mental health and cognitive degenerative diseases. Mycrodose is one of only a few private companies that has been granted a Schedule I License and been approved by the United States Drug Enforcement Agency (DEA), State of California Attorney General’s Research Advisory Board, and The US Food & Drug Administration (FDA) to research four (4) psychedelic compounds: psilocybin, LSD, MDMA, and DMT. The company believes that its IP-Protected Sustained Microdosing Technology™ is a smarter and safer approach to delivering pharmaceutical compounds to patients of all ages and allows for an expandable and scalable business model.

About HAVN Life Sciences Inc.

HAVN Life Sciences is a biotechnology company pursuing standardized extraction of psychedelic compounds for the creation of APIs, the development of natural health products, and innovative therapies to support brain health and enhance the capabilities of the mind.

Through its research division, HAVN Labs, the company has developed an end-to-end supply chain of standardized, naturally derived psychedelic compounds for research that will define the future of modern medicine. With its new line of natural health products, HAVN Life offers a full range of high-quality mushroom and plant extracts that help boost immune function, reduce inflammation and support a healthy lifestyle.

Purchase our products and find out more at yourhavnlife.com, and follow us on Facebook, Twitter,  Instagram and Youtube.

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MINDCURE Signs Exclusive Digital Clinical Data Licensing Agreement with ATMA Journey Centers

MINDCURE Signs Exclusive Digital Clinical Data Licensing Agreement with ATMA Journey Centers

VANCOUVER, BC, Sept. 23, 2021 /CNW/ – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in advanced proprietary technology and research in psychedelics, announced today an exclusive data licensing agreement with ATMA Journey Centers Inc. (“ATMA”), a pioneer in the psychedelic therapy industry and the first commercial company in Canada to legally treat a palliative patient with psychedelic-assisted therapy using psilocybin. This agreement is an extension to an existing partnership, whereby ATMA will grant MINDCURE an exclusive license to ATMA data from patients using the iSTRYM digital therapeutics software, with the intended goal of further optimizing the platform.

MINDCURE is positioning iSTRYM to be the industry’s distribution network for science-based, evidence-backed protocols and AI (Artificial Intelligence) data systems. iSTRYM is a first-of-its-kind software application that optimizes the healing journey for patients and clinicians — before, during, and after therapy sessions. iSTRYM was built to shift the paradigm of care and access for psychedelic-assisted psychotherapy, reducing the cost of care, improving patient outcomes, and providing a distribution network for psychedelic companies to distribute protocols. As a drug agnostic platform, iSTRYM was built to support not only any type of psychedelic molecule within a treatment protocol, but to support protocols which utilize existing drugs on the market or therapeutic protocols that might not need a drug at all, as in traditional talk therapy.

MINDCURE plans initially to service psychedelic clinics and to expand into integrated clinics, both traditional and psychedelic, and eventually to the broader mental health market. In August, the Company released the minimum viable product (MVP) version of iSTRYM into partner clinics across North America. MINDCURE plans to begin full commercial deployment in Q1 of 2022.  

“We are thrilled to expand our collaboration with the team at ATMA. With data being a core component to refining iSTRYM, having access to ATMA’s network of therapists and anonymized patient data will improve our ability to provide the tools, protocols, and treatments to therapists, and enable us to address a global mental health crisis in need of a solution,” said Kelsey Ramsden, MINDCURE President and CEO. “ATMA’s growing clinical footprint in Canada along with its recently inaugurated center in Costa Rica gives MINDCURE the opportunity to deploy iSTRYM, with the intended goal of optimizing treatments for its patients and to expose iSTRYM to the data necessary to build the platform into one trusted by therapists and patients around the world.”

“Our partnership with ATMA is an exciting opportunity for MINDCURE to demonstrate the effectiveness of iSTRYM’s treatment protocols and to identify those treatment components that are associated with optimal client outcomes. This is at the core of what we have built iSTRYM to do,” said Ty Tashiro, MINDCURE Senior Translational & Psychometric Architect. “This particular collaboration will allow us to deploy iSTRYM’s multifaceted assessment capabilities, including biometrics, natural language processing and unique psychometrics, to create a responsive, personalized treatment experience.”

“We look forward to helping MINDCURE develop iSTRYM into the leading digital therapeutics platform for therapists conducting psychedelic-assisted psychotherapy,” said David Harder, Co-CEO and Co-Founder of ATMA. “Real data from patients will further strengthen and improve the protocols we use and the effectiveness of treatments we deliver at our Journey Centers.”

In related news, MINDCURE successfully launched the minimum viable product (MVP) of iSTRYM on August 26, 2021. The Company is on track to expand into over ten clinics across Canada and the U.S. within the MVP beta testing program in Q4 2021.

About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The Company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on LinkedIn, Facebook, Twitter, and Instagram.

About ATMA Journey Centers Inc.
ATMA is a private healthcare company with the mission of delivering effective and innovative healing and transformative experiences that awaken the inner healer and promote a deeper connection with the self, with others, and with the beauty of the world. A pioneer in the psychedelic therapy industry, ATMA is building a global network of psychedelic therapy clinics. ATMA was the first private sector service provider in Canada to announce conducting legal psychedelic-assisted therapy for a palliative care patient under the approval of Health Canada’s section 56(1) exemption. Its team collectively has over 100 years of experience in the disciplines of medicine work, integration, therapy and personal development.

On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995

Forward-Looking Information
Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use; that MINDCURE will advance wellness worldwide; that iSTRYM will be brought to commercial deployment in the near term or otherwise or that it will reduce symptoms, improve quality of life, or support transformation and healing, or that the deployment may not occur at the scale or within the time frame contemplated; or that ATMA’s anonymized patient data will further optimize the iSTRYM platform or will improve MINDCURE’s ability to provide the tools, protocols, and treatments to therapists.

Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information 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 MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

SOURCE Mind Cure Health Inc.

For further information: MINDCURE Investor Relations: investors@mindcure.com, 1-888-593-8995; Media Inquiries: Annie Graf / Kristin Cwalinski, KCSA Strategic Communications, mindcure@kcsa.com

‍

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NeonMind Announces Divestiture Of Consumer Related And Other Non-Core Assets

NeonMind Announces Divestiture Of Consumer Related And Other Non-Core Assets

Reflects Strategic Focus on Psychedelic Treatments with Major Milestones in 2021

Vancouver, B.C. – September 13, 2021: NeonMind Biosciences Inc. (CSE: NEON) (OTCQB: NMDBF) (FRA: 6UF) (“NeonMind”, the “Company”), announced it has completed the sale of assets related to its consumer division, including e-commerce operations and underlying functional food assets, as well as shares owned in Translational Life Sciences Inc. (“TLS”), for a combined consideration of approximately C$1.1 million plus a royalty.

This follows the Company’s completion of its Integrative drug development plan by its research and development working group, which validated the Company’s path forward with its focus on psychedelic drug development programs. This includes the advancement of NEO-001, synthetic psilocybin, to treat obesity into a regulator-approved psychedelic drug product.

“Obesity  continues to be a key market for drug development due to a massive, underserved population of patients and burdensome comorbidities including depression, cardiovascular disease, and diabetes,” said Rob Tessarolo, President & CEO of NeonMind. “We have encouraging proprietary pre-clinical data showing the positive effects of psilocybin in reducing weight gain, and the published clinical data to date on the compound is promising in its ability to provide a durable response in multiple psychiatry indications. As we progress towards clinical studies in obese patients, our increased engagement with scientific and medical experts has resulted in positive feedback in the novelty of the NEO-001 program and reinforcing its potential and positioning as a valuable treatment tool”.

With the decision to focus on NEO-001, NeonMind has decided to divest its non-core assets in functional foods and early-stage discovery. NeonMind is now well positioned to more efficiently utilize capital to progress as a leading company in the transformative field of interventional psychiatry, with two divisions: 1) a pharmaceutical division focused on psychedelic drug development and 2) a medical services division focused on providing evidence-backed treatments including psychedelics.

With the pharmaceutical division, NeonMind aims to advance NEO-001 through major drug development milestones including a pre-IND meeting with the FDA and a pre-CTA meeting with Health Canada in Q4 2021 for the planned Phase 1/2 study aimed to address deficiencies in chronic weight management. With the medical services division, the company is focused on setting up a specialty clinic network providing interventional psychiatry treatments, including psychedelics, with a target to announce the first location in Q4 2021.

“Although NeonMind mushroom coffees have been well received by consumers, significant further investment is required to drive a successful consumer products business. We prefer to focus on our core competencies, which are drug development and deployment of medical services,” said Rob Tessarolo. “We are excited by the significant opportunity before us: to bring psychedelic-based treatments to market that have the potential to provide breakthrough therapies for mental illness and obesity.”

On September 10, 2021, NeonMind entered into an agreement with Better Plant Sciences Inc. (“Better Plant”), whereby Better Plant agreed to purchase the functional food assets related to NeonMind’s consumer division for C$645,000 plus a royalty of 3% of net product sales above C$1,000,000 for 25 years.  On September 10, 2021, the disposition was completed and the following assets were transferred by NeonMind to Better Plant: four  mushroom coffee products currently being sold in Canada, and four mushroom coffee dietary supplement products, including existing inventory, raw materials and packaging for all eight products, social media accounts related to the products, a domain neonmind.com and the neonmind.com Shopify-enabled website in Canada and the US, as well as associated marketing materials and a license to use the brand NeonMind in association with the products.  In consideration for the assets Better Plant paid C$645,000 including taxes, plus an agreement to pay a royalty of 3% of net product sales payable on sales over C$1,000,000 for 25 years.  The payment of C$645,000 was made by setting off the balance due on a note for C$645,000 owed by NeonMind to Better Plant which had a maturity date in February 2022.

On  August 30, 2021, NeonMind sold all of the common shares it owned in TLS for $450,000 cash to a group of purchasers. The principal purchaser was Dr. William Panenka, who is a shareholder in NeonMind and the principal of TLS.

The net result on NeonMind’s current assets of both transactions is an increase in working capital of approximately C$1.1 million.

Although each of the TLS and Better Plant transactions may be considered related party transactions pursuant to Multilateral Instrument 61-101, each transaction is exempt from the shareholder approval and valuation requirements of the instrument.

 

About NeonMind Biosciences Inc.

NeonMind operates two divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; and (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s lead candidate, NEO-001, employs psilocybin as an agonist at the serotonin 5- HT2A receptor, which is involved in the hallucinogenic effect of psychedelics. The Company’s second drug candidate, NEO-002, employs low-dose psilocybin as an agonist at the 5-HT2C receptor, which controls appetite.

NeonMind established a medical services division with the goal of launching NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to address a variety of mental health needs.

 

For more information on NeonMind, go to www.NeonMindBiosciences.com

 

For further information, please contact:

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.

rob@neonmind.com

Tel: 416-750-3101

 

Investor Relations:

KCSA Strategic Communications

Scott Eckstein / Tim Regan

neonmind@kcsa.com

Tel: 212-896-1210

 

Media Inquiries:

KCSA Strategic Communications

Annie Graf

neonmind@kcsa.com

Tel: 786-390-2644

 

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

 

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind’s future performance. The use of any of the words “could”, “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 NeonMind’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind’s drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

Mindset Pharma Selects Treatment-Resistant Depression and End of Life Cancer Angst as Indications for MSP-1014, its Novel Psilocybin-Inspired Clinical Candidate

TORONTO, Sept. 09, 2021 (GLOBE NEWSWIRE) — Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company”), a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet medical needs, today announced that it has selected Treatment-Resistant Depression (“TRD”) and End of Life Angst as initial target indications for its lead clinical candidate, MSP-1014. MSP-1014 is a novel patent-pending drug candidate that, based on preclinical data, shows potential to be a safer second generation psilocybin-like therapy with decreased potential for side effects.

“Psilocybin has demonstrated encouraging efficacy in treating TRD and End of Life Cancer Angst in a number of clinical studies and we believe our novel drug candidate, MSP-1014, represents a safer and more scalable evolution to its psilocybin predecessor,” said James Lanthier, CEO of Mindset. “TRD represents a large and untreated population with ⅓ of major depressive disorder sufferers resistant to presently available treatments1, while End of Life Angst is a major cause of depression and anxiety with limited treatment options. We see an opportunity to bridge a significant treatment gap with our next generation medicine and plan to advance MSP-1014, as well as other candidates across our library of patent-pending compounds, through the regulatory process as quickly as possible.”

“In a head-to-head comparison with psilocybin, MSP-1014 demonstrated superior head twitch response and minimal change in core body temperature, which suggests our compound potentially produces a greater hallucinogenic response with an improved safety profile,” stated Joseph Araujo, Chief Scientific Officer of Mindset. “Furthermore, MSP-1014 leverages Mindset’s proprietary psilocybin synthesis process, enabling scale-up efficiency in manufacturing and positioning us well for progressing our novel drug candidate through to clinical trials.”

To watch a video of Mindset’s CEO discussing the announcement in greater detail, please visit: https://youtu.be/O1NZe05u34Y.

1Jaffe, D.H., Rive, B. & Denee, T.R. The humanistic and economic burden of treatment-resistant depression in Europe: a cross-sectional study. BMC Psychiatry 19, 247 (2019).

For more information, please contact:

Investor Contact:
Allison Soss/Tim Regan
KCSA Strategic Communications
Email: MindSet@kcsa.com
Phone: 212-896-1267/ 347-487-6788

Company Contact:
James Lanthier, CEO
Email: jlanthier@mindsetpharma.com

Jason Atkinson, VP, Corporate Development
Email: jatkinson@mindsetpharma.com
Phone: 416-479-4094

About Mindset Pharma Inc.
Mindset Pharma Inc. is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. Mindset was established in order to develop next generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin as well as its own proprietary compounds.

For further information on Mindset, please visit our website at www.mindsetpharma.com.

Forward-Looking Information

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”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Additional information regarding risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s annual information form for the financial year ended June 30, 2020 dated March 5, 2021. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Red Light Holland Closes Majority Stake in Acadian Exotic Mushrooms, Partnering with Leading Canadian Fresh and Dried Mushroom Producers on East Coast Facility

Red Light Holland Closes Majority Stake in Acadian Exotic Mushrooms, Partnering with Leading Canadian Fresh and Dried Mushroom Producers on East Coast Facility

● Red Light Holland Closes Acquisition of 51% of Acadian Exotic Mushrooms

● The Vendors have agreed to purchase all sales from AEM’s entire produce for the next three years at a purchase price of $6 per pound

● AEM will fall under the Red Light Farms division, joining Happy Caps Gourmet Mushroom Farm in Halifax, Nova Scotia and Red Light Truffle Farm in Horst, The Netherlands

Toronto, Ontario–(Newsfile Corp. – September 7, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company“), an Ontario-based corporation engaged in the production, growth, and sale of a premium brand of magic truffles, is pleased to announce that it has acquired (the “Acquisition“) a 51% stake in Acadian Exotic Mushrooms Ltd. (“AEM“). AEM is a gourmet mushroom production facility co-owned by leading Canadian mushroom farming groups/individuals Holburne Mushroom Farm and Mike and Fernando Medeiros (the “Vendors“) co-owners of Carleton Mushroom Farms. AEM will have the ability to produce, package and distribute a wide variety of fresh mushrooms with guaranteed sales contracts, while offering an assortment of dried options and the potential to produce functional mushroom consumer packaged goods. Start-up activities are currently underway, and the Company expects operations at AEM to commence by early 2022.

“We at Red Light Holland are delighted to have inked this exciting partnership with clear industry leaders in the mushrooms sector,” said Todd Shapiro, CEO and Director of Red Light Holland. “Mushrooms and Truffles are our core focus. We are partnering with mushroom farming veterans and look forward to a potential future where the AEM facility could be converted to support Canadian psychedelic operations, if and when regulations permit. In the meantime, given the relationships and scale of our partners, AEM has a guaranteed revenue stream and we have another addition to the Red Light Farms division. We look forward to updating the market when AEM commences its first grow from the newest Red Light Farm in Canada.”

“This is an incredible partnership for Red Light Holland,” said Bruce Linton, Chair of Red Light Holland’s advisory board. “In my experience, any time you close a deal and partner with industry leaders, it bodes very well for the business as a whole. Todd continues to prove out his mandate on future near term revenues and Red Light Holland continues to pursue other M&A opportunities that fit and compliment their core focus of psychedelics, while searching out other opportunities with the strict goal of increased revenue generation but with cautious spending habits.”

“We at AEM have been discussing the potential of breaking into the psychedelic/psilocybin sector for a few years now, so when the opportunity arose for us to partner with Red Light Holland, there was no doubt that this was the right partnership for us. We felt that Red Light Holland had great depth on their board of directors who possess a great vision for the future of psychedelics & psilocybin. We look forward to bringing our expertise and knowledge of the mushroom industry into this partnership and help propel Red Light Holland to be a market leader in the psychedelic & psilocybin sector,” said Mike Medeiros, co-owner of Carleton Mushroom Farms.

The Acquisition was completed pursuant to the terms of the definitive agreement (the “Acquisition Agreement“) dated September 7, 2021, pursuant to which Red Light Holland acquired 51% of the issued and outstanding shares of AEM for aggregate consideration of up to $1,530,000. The consideration was comprised of $230,000 cash and 3,065,135 common shares of the Company (the “Red Light Shares“). The Acquisition Agreement provides for up to 1,915,708 additional Red Light Shares (the “Earn-Out Shares“) to be issued to the Vendors subject to the satisfaction of certain milestones. The Company and the Vendors have also entered into an offtake agreement, subject to which, the Vendors will ensure a minimum purchase price of $6 per pound for all output from the facility for 3-year period.

In connection with the Acquisition, Red Light Holland will also issue 197,318 Red Light Shares to Ed Darlington, a consultant of the Company, in satisfaction of a finder’s fee. Mr. Darlington will also be entitled to additional Red Light Shares with a value of up to $25,000 in the event that the Earn-Out Shares are issued to the Vendors.

About Mike and Fernando Medeiros and Holburne Mushroom Farm

Carleton Mushroom Farms was founded in 1984 by Mike and Fernando’s parents and remains a family run business. Mike and Fernando took over day to day operations in 2005. In recent years growing capacity has tripled, and yields have steadily increased to 12 million pounds per year. Carleton Mushroom Farms implements cutting edge technologies from around the world as part of their growing practices. Website: https://www.carletonmushroom.com/.

Holburne Mushroom Farm is a local family owned and operated business that specializes in growing fresh, organic Shiitake and Oyster Mushrooms since 2005. Production of Organic Shiitake and Oyster Mushrooms has steadily increased to current yield of 1.3 million pounds per year. Proudly, the largest fresh, Organic Shiitake Mushroom growers in Canada.

About Red Light Holland
The Company is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands.

For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, AEM or their respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the anticipated operating abilities of AEM; the commencement of operations at AEM; the guaranteed sales contracts for AEM; the potential that the AEM facility could be converted to support Canadian psychedelic operations; the Company’s pursuit of other M&A opportunities; statements about the future of the Company’s partnership with AEM, including with respect to the offtake agreement; and expectations for other economic, business and/or competitive factors.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, expectations regarding future growth and expansion of the operations of the business; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the psychedelics industry, including the global regulatory landscape and enforcement related to psychedelics; political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the psychedelics industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com, including the Company’s annual information form for the year ended March 31, 2020.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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Red Light Closes Acquisition of Mera Life Sciences and Files Quarterly Financial Statements

Red Light Closes Acquisition of Mera Life Sciences and Files Quarterly Financial Statements

Toronto, Ontario–(Newsfile Corp. – August 31, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company”), an Ontario-based corporation engaged in the production, growth and sale of a premium brand of magic truffles, is pleased to announce that its financial results for the quarter ended June 30, 2021 (“Q1FY22”) have been filed on SEDAR. Separately, the Company has closed its previously announced acquisition of Mera Life Sciences (“Mera”).

Financial Statements

The Company is pleased to announce that its annual financial statements for the quarter ended June 30, 2021 are now available on SEDAR and highlights key data points below:

– Q1 FY22 revenue grew 521% over Q4 FY2, to $595,137

– Cash balance remains healthy, in excess of $29 million

– Company remains committed to identifying and executing M&A transactions within psychedelics and recreational THC markets

“I’m so proud of our team for another great quarter. This is the second quarter in a row we have grown revenues by over 500%, and growing our revenues on a quarterly basis remains a core focus of our business in becoming a revenue focused Psychedelic Company,” said Todd Shapiro, CEO and Director of Red Light Holland. “As well, our team remains razor focused on identifying and executing additional M&A transactions in both the psychedelics and recreational THC sectors, and we hope to bring additional deals to the market over the coming months with counterparties that exhibit material revenue capabilities and cautious spending habits.”

Mera Life Sciences

Shapiro added: “Separately, we have also completed the acquisition of Mera and its coveted psychedelic licenses in St. Vincent and the Grenadines. We have renamed Mera to Scarlette Lillie Science and Innovation, which allows for us to carefully pursue financially disciplined high quality psychedelic product research and development, open up treatment clinics, cultivate, extract and process, and export not just Psilocybin, but other compounds such as Ayahuasca, MDMA, DMT, Peyote, Ketamine and many other natural based plants. Red Light Holland can now explore the inner molecular worlds of multiple plant species, including a variety of psychedelics potentially putting us in a position to discover novel clinical applications for a variety of natural psychedelics. We hope to be on the frontier of natural plant based drug discovery while being in control of the inner workings including staffing, budgeting and a synergistic company culture.”

“Working through the Mera acquisition with the various stakeholders involved has been a really fantastic experience,” said William Lay, EVP and Chief Strategy Officer of Red Light Holland. “I’m really excited for Red Light to take advantage of such a comprehensive applied science landscape to further its initiatives within the Scarlette Lillie Sciences and Innovation division, and to continue pursuing attractive M&A opportunities.”

Hon. Minister Saboto Ceasar, Minister of Agriculture, Forestry, Fisheries, Rural Transformation Industry and Labor of St. Vincent and the Grenadines added: “We welcome Red Light Holland and Scarlette Lillie Sciences and Innovation as one of the Pioneer Licensees in St. Vincent and the Grenadines’ modern medicinal wellness industry. Our mantra is that this industry ‘begins and ends with science’. This important event demonstrates that our legal framework and wide range of protocols will make St Vincent and the Grenadines an enviable business and research destination for serious scientists and psychedelics companies. Red Light Holland is a world-class, professional organization that patiently worked through all details required to ensure a successful and profitable venture. Their CEO Todd Shapiro has invested and established roots here in our country that will flourish into a special partnership. We are excited to work with the entire team as they continue their march forward.”

The Acquisition was completed pursuant to the terms of the definitive agreement (the “Acquisition Agreement”) dated July 29, 2021, pursuant to which Red Light Holland acquired 100% of the issued and outstanding shares of Mera for $2,450,000. The consideration will be comprised of up to 7,000,000 common shares of the Company (the “Red Light Shares”), with each Red Light Share priced at $0.35, representing a 35% premium to the closing price of the Red Light Shares on the Canadian Securities Exchange immediately prior to the closing of the Acquisition. Upon closing of the transaction, the Company issued 700,000 Red Light Shares to the vendor of Mera.

The remaining 6,300,000 Red Light Shares will be released to the vendors based on the achievement of several milestones, which include: the importation of 15,000 grams of iMicrodose truffles to St. Vincent and the Grenadines (“SVG”), governmental authority to rename Mera to Scarlette Lillie Sciences and Innovation, the successful prescription and sale of iMicrodose truffles to at least five patients in SVG or the successful administration of iMicrodose truffles to at least five participants in a scientific study or trial in SVG, the extraction and testing of the iMicrodose truffles, the successful export of iMicrodose truffles from SVG to another jurisdiction, and the final implementation of SVG’s regulatory framework for the psychedelics industry.

Mera currently holds a Medicinal Industry Development License (the “License“) issued by the SVG Bureau of Standards, which permits the research, cultivation, production, development and extraction, import and export, clinical treatment facilities, and prescribed patient access in specifically licensed clinical treatment facilities. The License applies to the following compounds: Tumeric, Aloe Vera, Papaya, Arrowroot, Soursop, Coconut, Ginger, Moringa, Ayahuasca, Mushroom, Iboga, Sassafras, Peyote, Psilocybin, Ibogaine, Dimethyltryptamine (DMT), Mescaline, Ketamine, 3-4 Methylenedioxy – Methamphetamine (MDMA), Lysergic Acid Diethylamide (LSD), 5-Methoxy-N,N-Dimethyltrypotomine (5-MeO-DMT). The Company has worked closely with the SVG government over the last 6 months to assist in the development of the final regulatory framework which will govern the Company’s expected activities in SVG, and has been informed by the SVG government that it expects these regulations, which are in substantially final form, to be signed into law in the near future.

Mera has been renamed Scarlette Lillie Science and Innovation (“SLSI”) and will serve as a key growth driver with respect to its ability to engage in various research and applied science applications.

About Red Light Holland

Red Light Holland is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles.

For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include but are not limited to: identify and executing M&A transactions within psychedelics and recreational THC markets; the completion of the conditions with respect to the 6,300,000 Red Light Holland Shares; the signing of the regulations developed in conjunction with the SVG government into law; and the ability of SLSI to drive growth.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in popularity of functional mushrooms and/or magic truffles; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; and the ability of the Company to fulfil the listing requirements of the CSE.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the risks associated with the psychedelics industry in general such as operational risks in growing, competition, incorrect assessment of the value and potential benefits of various transactions; the inability of the Company to identify and execute M&A transactions within psychedelics and recreational THC markets; the non-completion of the conditions with respect to the 6,300,000 Red Light Holland Shares; the refusal of the SVG government to sign the regulations developed with the Company into law the inability of SLSI to drive growth; the diversion of management time on transaction-related issues; expectations regarding future investment, growth and expansion of the operations of the businesses; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the cannabis and magic psychedelics industries, including the global regulatory landscape and enforcement related to cannabis and psychedelics, political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the cannabis and psychedelics industries; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Red Light Holland disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.