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Mydecine to Participate in the H.C. Wainwright Psychedelics in Psychiatry and Beyond Conference

Published at globenewswire.com

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DENVER, June 03, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today announced that Josh Bartch, CEO of Mydecine, will participate in the H.C. Wainwright Psychedelics in Psychiatry and Beyond Conference to be hosted virtually on Thursday, June 17, 2021.

Mr. Bartch’s corporate presentation will be available on-demand starting at 7:00 a.m. ET. To attend, register here.

For more information about the H.C. Wainwright conference, or to schedule a one-on-one meeting with Mydecine management, please contact KCSA Strategic Communications at MYCO@kcsa.com.

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com and follow us on Facebook, Twitter, and Instagram.

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Ehave To Release Vaccine Passport As Part Of Its Medical Passport

Patients to take ownership of health records from various medical providers so other caregivers and care teams can have access to past treatments and procedures.

MIAMI, June 03, 2021 (GLOBE NEWSWIRE) — Ehave, Inc. (OTC Pink: EHVVF) (the “Company”), a provider of digital therapeutics delivering evidence-based therapeutic interventions to patients, announced today its Ehave medical passport will give small businesses a tool to verify Covid-19 vaccination as most small businesses battle to come to terms on how to implement safety precautions. Ehave’s Medical and Vaccine Passport will allow individuals and small businesses to easily access vaccination verification to ease implementing new safety precautions.

On May 16, 2021 the Center for Disease Control (CDC) relaxed its mask recommendation and said individuals who are fully vaccinated can resume activities they did prior to the pandemic. This means fully vaccinated people can resume activities without wearing a mask or physically distancing, except where required by federal, state, local, tribal, or territorial laws, rules, and regulations, including local business and workplace guidance. The CDC went on to say, if you haven’t been vaccinated yet, find a vaccine. Now that the CDC has suggested less stringent mask requirements, a verification system might help identify who has been vaccinated. Such a verification system is currently a hot topic politically, but many people want to be able to prove they have been vaccinated in the most convenient way possible. Ehave’s recent expansion of its Dashboard capabilities through its licensing agreement with Health Wizz could provide a potential solution. Ehave will offer its Dashboard as a HIPAA compliant, decentralized mobile platform providing users access to their medical records management and retrieval over a dedicated instance on the Amazon Web Services platform. According to a May 25, 2021 article in Wired “some state governments are creating verification apps that let people gather safely, others are refusing to allow so-called vaccine passports in their states, and some governors are threatening to bar businesses from using them.” For the millions of individuals who want to voluntarily share their vaccination information, so they know who it’s safe to be around, the Ehave Dashboard could be the perfect vaccine and medical passport.

As a result of its recent licensing agreement with Health Wizz, Ehave now has the necessary access to provide Medical and Vaccine Passports to those individuals who want to have one. The number of potential participants who can access their health data with the Ehave Mobile App is more than 150 million potential users. The Ehave Mobile App should be available in the next 30-days and will allow participants to access their electronic health records (EHRs) and download US Core Data for Interoperability (USCDI) using Fast Healthcare Interoperability Resources (FHIR) APIs. This includes more than 100 million patients and members. The Ehave Mobile App also allows individuals to access claims and billing activities. Participants can use the Ehave Mobile App to connect to a claims database and download claims and billing data using FHIR APIs. This includes more than 60 million Medicare beneficiaries and veterans. The Ehave Mobile App also supports patient generated data including in home use settings, such as surveys, diaries, wearables, and patient reported outcomes (PROs).

Ben Kaplan, CEO of Ehave said, “Our Ehave Mobile App makes it very easy for users and participants to securely store their health and medical records, so they can have them with them at all times. We have added a revolutionary feature that will give patients and participants the ability to combine their health records from multiple institutions along with their patient-generated data.” Mr. Kaplan continued, “We do not want to get involved in politics, but for individuals who want a Medical and Vaccine Passport, we believe the Ehave Mobile App is a potential solution.”

About Ehave, Inc.

Ehave, Inc. (EHVVF) is a leader of digital therapeutics delivering evidence-based therapeutic interventions to patients. Our primary focus is on improving the standard care in therapeutics to prevent or treat brain disorders or diseases through the use of digital therapeutics, independently or together, with medications, devices, and other therapies to optimize patient care and health outcomes. Our main product is the Ehave Telemetry Portal, which is a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insights. The Ehave Infinity Portal offers a powerful machine learning and artificial intelligence platform with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools. Additional information on Ehave can be found on the Company’s website at: www.ehave.com.

Forward-Looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading “Risk Factors” in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.

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CORE ONE LABS INC. ANNOUNCES EXPECTED DELAY AND PROVIDES UPDATE RELATED TO FILING OF ANNUAL REPORT PURSUANT TO NATIONAL POLICY 12-203 – MANAGEMENT CEASE TRADE ORDERS

Vancouver, British Columbia, Canada – May 31, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or ”Core One”).  The Company is providing this update on the status of the management cease trade order granted on May 3, 2021 (the “MCTO”) by its principal regulator, the British Columbia Securities Commission under National Policy 12-203 – Management Cease ‎Trade Orders (“NP 12-203”), following the Company’s announcement on April 29, 2021 (the “Default Announcement”) that it was unable to file its audited annual financial statements for the year ‎ended December 31, 2020, and accompanying management’s discussion and analysis, annual information form and related certifications ‎‎(collectively, the “Documents”) on or before April 30, 2021, as required under applicable securities laws. The MCTO does ‎not affect the ability of investors who are not insiders to trade in the securities of the Company.‎

In follow up to the Update on Default Announcement, issued by the Company on May 13, 2021, the Company reports that the annual audit is ongoing  and that, due to the Company’s auditors requiring additional time to complete their audit, the Company now expects to file the Documents on or before June 15, 2021. The Company continues to work closely with its auditor to remedy the default status and file the Documents as soon as possible.

Except as noted, the Company further reports that: (i) there are no changes to the information contained in the bi-weekly status updated dated May 13, 2021, that would reasonably be expected to be material to an investor; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press ‎release; (iii) there has not been any other specified default by the Company under NP 12-203, and, except as set forth below, no such other default is anticipated; (iv) the Company is not subject to any insolvency proceedings; ‎and (v) there is no material information concerning the affairs of the Company that has not been generally ‎disclosed.

In connection with the delay in filing the Documents, the Company anticipates that it will not be able to complete and file its interim financial statements, CEO and CFO certifications, and management’s discussion and analysis (the “Interim Filings”) for the three-month period ended March 31, 2021, by the filing deadline of May 31, 2021. The Company anticipates filing the Interim Filings after filing the Documents. The MCTO will stay in effect until the Documents and, if applicable, the Interim Filings are completed, and the Company will continue to issue bi-weekly default status reports as required.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except

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Filament Health Partners with TrPR Psychedelic Research Program at UCSF to Advance First Drug Candidates Through FDA Phase 1 and Phase 2 Clinical Trials

Filament Health is collaborating with the TrPR Program at the University of California, San Francisco on two innovative U.S. FDA clinical trials, commencing in 2021, to demonstrate the safety and efficacy of its proprietary, naturally-extracted drug candidates.

Vancouver, British Columbia, May 31, 2021
Filament Ventures Corp. (“Filament”, “Filament Health” or the “Company”), an exclusively-natural psychedelic drug discovery and extraction company, today announced it has partnered with the Translational Psychedelic Research (“TrPR”) Program at the University of California, San Francisco (“UCSF”) to progress its drug development efforts. TrPR’s Director, Dr. Joshua Woolley, Associate Professor of Psychiatry at UCSF and experienced psychedelics clinician and researcher, will act as Principal Investigator, leading Filament’s unique, patent-protected drug candidates through two U.S. Food and Drug Administration (“FDA”) investigator-initiated clinical trials, both expected to begin in 2021. The first trial has been approved by the Institutional Review Board at UCSF.

Filament’s mission is to get safe, natural psychedelics into the hands of everyone who needs them, as soon as possible, by executing drug discovery research and development steps to unlock their healing potential. Filament’s platform includes a deep patent-pending IP portfolio rooted in novel extraction and purification methods, an accomplished botanical extraction management team, a Health Canada psilocybin Dealer’s License, and in-house GMP manufacturing capabilities.

Filament believes that a partnership with the thought leaders at UCSF’s TrPR Program will catalyze the development of Filament’s leading drug candidates. The TrPR Program combines innovative basic and clinical research approaches to address key questions about the mechanisms, safety, and efficacy of psychedelics for specific health conditions. The group’s goal is to accelerate progress towards impactful and accessible psychedelic treatments.

“We are thrilled to begin the first phase of our clinical development strategy with two unique trials,” said Ben Lightburn, CEO and co-founder of Filament.“ Dr. Woolley and his team at TrPR have been invaluable partners in designing and implementing clinical studies that feature a never-before studied compound and the most rigorous trial design employed to date.”

“I’m excited about the collaboration between Filament and TrPR. Both of our teams are dedicated to innovating in the psychedelic research space and these projects reflect that focus,” said Dr. Woolley, Program Director of UCSF’s TrPR. “Designing and conducting rigorous clinical trials is a core element of what we do at TrPR. We’re really looking forward to working with Filament’s naturally-extracted formulations in these trials and contributing actionable insights to the field.”

While advancing its three leading drug candidates, Filament will continue to advance its discovery pipeline, leaning on its natural extraction expertise to access the vast potential of psychoactive plant compounds, many of which have been previously unstudied. With hundreds of plant species to be explored and the possibility of proving the entourage effect, the Company believes there is great potential for many more expertly extracted and purified compounds to become powerful medicines.

 

ABOUT FILAMENT HEALTH

Filament is an exclusively-natural psychedelic drug discovery and extraction company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who needs them as soon as possible. Filament believes measurable and efficacious medicines will be a catalyst to addressing many of the world’s mental health problems and that natural psychedelics provide an optimal option for widespread adoption of these substances. Filament engages in natural extraction technology and commercialization, utilizing its intellectual property portfolio, in-house good manufacturing practices and a Health Canada psilocybin Dealer’s License. Filament is headquartered in Vancouver, British Columbia.

Get the latest updates via Filament’s newsletter and LinkedIn page.

 

ABOUT TRPR

The TrPR Program brings together scientists and care providers across disciplines to understand how psilocybin, LSD, ketamine, MDMA, and related compounds impact the brain and other organ systems. They combine innovative basic and clinical research approaches to answer key questions about the mechanisms, safety, and efficacy of psychedelics for specific health conditions. Their goal is to accelerate progress towards impactful and accessible psychedelic treatments while committing to building a collaborative culture and applying open science principles to maximize the integrity and transparency of their work.

Learn more at https://psychedelics.ucsf.edu/ and by following TrPR on Twitter.

 

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements”and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning Filament’s and TrPR’s ability to conduct clinical trials; the results of the partnership; the nature, timing, and possible success of Filament’s leading drug candidates and the impact and accessibility of psychedelic treatments. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

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PharmaTher Collaborates with MediSynergics to Develop Patented Ketamine Formulation for Pain Disorders and to Discover Novel Psychedelic Formulations

TORONTO, May 27, 2021 — PharmaTher Holdings Ltd. (the “Company” or “PharmaTher”) (OTCQB: PHRRF) (CSE: PHRM), a clinical-stage psychedelics biotech company, is pleased to announce that it has entered into a collaboration agreement with MediSynergics, LLC. (“MediSynergics”), a drug discovery company, to develop MediSynergics patented ketamine derivatives for pain and other CNS disorders and to investigate drug discovery and development of next-generation psychedelic derivatives, such as psilocybin, N,N-Dimethyltryptamine (“DMT”), 3,4-Methyl​enedioxy​methamphetamine (“MDMA”) and lysergic acid diethylamide (“LSD”), mescaline, and ibogaine.
PharmaTher and MediSynergics will initially collaborate to advance the research of MediSynergics patented ketamine derivatives as an alternative to opioid medications for pain disorders using predictive preclinical animal models.  Efficacy of the patented ketamine derivatives were demonstrated to be comparable or better than ketamine when tested in a murine capsaicin inflammatory pain model.  The patented ketamine compounds are derivatives discovered by MediSynergics of which the majority were determined in preclinical in vitro binding affinity studies to not bind to the NMDA receptor, suggesting they may have fewer side effects that have limited ketamine’s use as a pain treatment. In parallel, MediSynergics, out of its research and controlled-substance licensed laboratory, is planning to evaluate novel formulations of psychedelics for clinical development to advance through the FDA regulatory pathway.

MediSynergics was founded over eleven years ago by two former Pfizer drug discovery researchers, Mr. Dennis Godek, M.A., CEO and Mr. Harry R. Howard, M.S., CSO, having extensive experience in CNS and infectious disease therapeutic areas.  Since then, MediSynergics has secured 12 patents, two provisional patents in the U.S., and has discovered ketamine derivatives that potentially have changed the pharmacology of ketamine.  Mr. Howard, Chief Scientific Officer of MediSynergics, co-discovered the $1 billion atypical antipsychotic drug ziprasidone (Geodon™, Zeldox™) which is used to treat schizophrenia and mania.  Mr. Howard also developed expertise in the design of novel compounds to treat CNS disorders including depression and ADHD and is listed as an inventor of 58 U.S. patents issued to Pfizer Inc. and named on 71 U.S. and Worldwide patents.

Fabio Chianelli, Chief Executive Officer of PharmaTher, said, “We are excited to work with MediSynergics in the discovery and development of novel psychedelic derivatives and formulations for pain and CNS disorders.  This drug discovery and development collaboration complement our current strategy of finding novel uses and delivery forms of psychedelics by diversifying our product pipeline and building our product lifecycle plans with robust intellectual property and know-how, as well as strengthening our drug discovery and development capabilities with experienced chemists that have FDA drug approvals on their resume. We continue to focus on our core competencies in quickly advancing our ketamine programs to clinical studies and developing our novel microneedle patch for the intradermal delivery of psychedelics. The addition of our drug discovery division focused on novel psychedelic formulations uniquely position us as an up-and-coming player in prescription-based psychedelics for unmet medical needs and partnering opportunities.”

Dennis Godek, Chief Executive of MediSynergics, said, “We are extremely pleased to be working with PharmaTher to help advance the development of ketamine derivatives and the future potential of novel psychedelic derivatives and formulations for treating CNS disorders of unmet medical need.  The benefits of ketamine for treatment resistant depression are already being realized by patients with FDA approval in 2019.  It is hoped that the discovery and development of novel psychedelics and formulations will greatly benefit patients suffering from debilitating neurological illnesses.”

Under the collaboration agreement, PharmaTher and MediSynergics will share the results of the ketamine program and will work toward exclusive licensing of any of the inventions that show potential entering into clinical studies.

About PharmaTher Holdings Ltd.

​PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) is a clinical-stage psychedelics biotech company focused on the research, development and commercialization of novel uses, formulations and delivery methods of psychedelics to treat mental illness, neurological and pain disorders.  PharmaTher is currently conducting an FDA approved phase 2 clinical study with ketamine to treat Parkinson’s disease and is developing a novel microneedle patch for the intradermal delivery of psychedelics.
​
Learn more at:  PharmaTher.com and follow us on Twitter and LinkedIn.

For more information about PharmaTher, please contact:

Fabio Chianelli
Chief Executive Officer
PharmaTher Holdings Ltd.
Tel: 1-888-846-3171
Email: info@pharmather.com
Website: www.pharmather.com

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

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “potential”, “aim” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmaTher Holdings Ltd. (the “Company”) current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the period of February 28, 2021 (“MD&A”), dated April 28, 2021, which is available on the Company’s profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

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BIONTECH, PSYBIO, BAYER: THE OPPORTUNITIES OF TOMORROW

BIONTECH: COME TO STAY

BioNTech’s vaccine could be a constant companion for people in the future. Viral variants are constantly emerging and the protection of existing vaccines is gradually declining. So far, BioNTech has shown good protection against viral variants, but early voices already expect that there may be a booster starting in the fall. For BioNTech, this circumstance is good news – after all, the vaccine manufacturer specializing in mRNA technology should continue to receive orders for years to come.

The discussion about the cancellation of patent protection is also likely to affect BioNTech less than initially thought. The Mainz-based Company does not want to give up patent protection but wants to accommodate poorer countries. This practice could be a compromise that promises BioNTech continued good business. On the stock market, the share is currently moving sideways. However, given the significant increase in the previous months, this is not a disaster. In addition, BioNTech can also score in other areas with its expertise in mRNA technology. The share is expensive, but the Company is good. However, the share price potential is limited.

PSYBIO: BIOTECH NEWCOMER CONTINUES TO COLLECT PATENTS

What mRNA technology was a few years ago is what the active ingredient psilocybin is now. The psychoactive substance from mushrooms is soon to be launched on the market as a drug. The US biotech Company PsyBio researches psilocybin and related active ingredients in close cooperation with universities and research institutes. Thanks to this research work, the Company has succeeded in filing several patents. The Company recently added a new patent around improved methods for the production of psilocybin and by-products. PsyBio focuses on producing active ingredients synthetically using bacteria rather than from mushrooms.

In doing so, the Company is taking a similar approach to what Bayer did with aspirin many years ago. The formerly herbal active ingredient was synthesized and thus became an effective drug with consistent dose and quality. PsyBio wants to follow a similar path with its active ingredients to combat depression. While classic medications for depression still have a strong impact on patients’ bodies, psychoactive substances based around psilocybin have the potential to take effect quickly. Users report formative experiences after just one use. Fears around palliative treatment, for example, could be addressed. The PsyBio share is currently suffering from the market environment. However, investors should note the value. With a market capitalization of only around EUR 20 million, things can move quickly here.

BAYER: THINGS ARE MOVING FORWARD!

Bayer is currently showing that companies whose share price has hit rock bottom can be quite promising. Battered by the glyphosate scandal, the share has lost steadily in recent years. The Company is still suffering from pending litigation. But, the stock promises a lot: In addition to a dividend yield of more than 5%, the Company also shines with a high EBITDA margin. Although Bayer is rebuilding itself and has not yet tackled all problem areas, the chemical group’s stock has already risen in recent months. The EUR 56 mark could prove to be resistance in the short term.

Exciting years lie ahead for the pharmaceutical and chemical sectors. Investors could see new technology less as a risk and more as an opportunity after the Corona disaster. On the one hand, this applies to digital solutions but also innovative active ingredients. There are already accelerated approval processes in the wake of the pandemic – the best example being vaccines. In the next step, biotech companies could also benefit from the realization that things can be done faster. While stocks such as BioNTech are already the talk of the town, the much more speculative PsyBio is still completely unknown. Opportunity-oriented investors can take a closer look at this stock.

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Enveric Biosciences Announces Definitive Agreement to Acquire MagicMed Industries, a Pharmaceutical Drug Discovery and Development Platform Focused on New-Generation Psychedelic Molecular Compounds and Derivatives

With this acquisition, Enveric will expand and complement its pipeline of naturally occurring cannabinoid compounds with a robust portfolio of psychedelic-derived molecules

Enveric aims to move into the clinic with novel cannabinoid and psychedelic-derived therapies to improve standard of care and serve unmet needs across multiple indications including oncology and CNS, such as PTSD

Upon closing, Dr. Joseph Tucker will be appointed Enveric Biosciences CEO and David Johnson as Executive Chairman

Management will host a conference call to discuss the transaction on Monday, May 24th at 8:30 a.m. ET

NAPLES, Fla., May 24, 2021 /PRNewswire/ — Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a patient-first biotechnology company developing novel cannabinoid medicines to improve quality of life for cancer patients, today announced that it has entered into a definitive agreement to acquire MagicMed Industries Inc. (“MagicMed”), a privately-held biotechnology company focused on creating a library of novel derivative psychedelic molecules such as psilocybin, N,N-dimethyltryptamine (DMT) and other molecular derivatives with applications across multiple indications, in an all-stock transaction.

Through its extensive R&D capabilities at the state-of-the-art facility at the University of Calgary, MagicMed has focused on the discovery and early development of novel drug candidates, structurally related to psychedelics with vastly improved pharmaceutical characteristics and commercial potential for the treatment of neurological and psychological indications. The Psybrary™ is MagicMed’s library of novel psychedelic derivatives developed through the combination of synthetic biology and traditional chemistry techniques. MagicMed has 13 patent applications filed for derivatives of psilocybin and DMT, 2 patent applications filed for derivatives of mescaline and MDMA with further intellectual property protection for mescaline, MDMA, ibogaine and LSD in process.

The acquisition of MagicMed will expand and complement Enveric’s current pipeline of naturally occurring compounds, which is primarily focused on cannabinoids, to now include a robust portfolio of psychedelic-derived molecules. Enveric intends to continue to develop patient-centric support care therapies in oncology and central nervous system (CNS) indications. Upon closing, Enveric intends to commence drug discovery and development for treatment of cancer-related Post Traumatic Stress Disorder (PTSD) patients who are currently in treatment for cancer and those who are in remission. It is anticipated that the PTSD drug development program holds the potential to be expanded in the future beyond cancer-related applications to include other patient populations, such as military veterans.

“Our proposed acquisition of MagicMed underscores the core fundamental mission of Enveric to form a drug discovery and clinical stage biotechnology company with a focus on bringing forward nature-originated therapies to improve the standard of care and serve unmet needs in oncology and CNS indications,” said David Johnson, Chairman and CEO of Enveric Biosciences. “Psychedelics and cannabinoids, in our opinion, have extensive patient benefits for the mind and body. We welcome MagicMed’s world class research and development team led by Dr. Joseph Tucker, who not only have experience in psychedelic drug discovery, but also research experience in cannabinoids, as well. Patients who are currently being treated for cancer or are in remission are forced to face debilitating physical and mental side effects with very few treatment options available to alleviate their pain. PTSD, for example, is a significant unmet need for this patient population. Together, with the MagicMed team, following the closing of the acquisition, we plan to commence the discovery and development of psychedelics-derived therapies.”

Once closing is complete, Dr. Joseph Tucker will be appointed Chief Executive Officer of the Company and David Johnson, current Chief Executive Officer and Chairman, will be appointed Executive Chairman.

Dr. Joseph Tucker is a seasoned executive who has built several publicly traded biotechnology companies. Dr. Tucker was a founder and chief executive officer of Stem Cell Therapeutics, which was acquired by Trillium Therapeutics in 2013. Dr. Tucker has also held the position of co-founder and CEO of Epimeron Inc., a University of Calgary start-up acquired in the creation of Willow Biosciences Inc. At Willow, Dr. Tucker served as Executive Chairman and COO. Prior to founding these companies, Dr. Tucker was a healthcare analyst with two investment banks and has also worked in technology commercialization for a university technology transfer office. Dr. Tucker received his Ph.D. in Biochemistry and Molecular Biology from the University of Calgary.

“Our mission at MagicMed has always been focused on unlocking the full potential of psychedelic-derived medicines for the treatment of neurological and psychological indications,” added Dr. Joseph Tucker, Chief Executive Officer of MagicMed. “Complementing our R&D capabilities, working together with Enveric will allow us to leverage the company’s clinical team, all of whom are focused on advancing our extensive pipeline of molecules through the clinic to help serve the millions of patients who are suffering with mental health issues around the globe. Through this acquisition – in the best interest of each of our respective teams – we have bolstered our pipeline, bringing together a seasoned team of experts with the leadership skills and knowledge that is crucial to creating a platform that aims to address large unmet total addressable markets (TAM).”

The transaction is structured as an amalgamation under the Business Corporations Act (British Columbia). At the closing, a recently formed subsidiary of Enveric will amalgamate with MagicMed, with the resulting corporation being an indirect wholly owned subsidiary of Enveric. Under the terms of the amalgamation agreement and other related agreements, Enveric will issue the shareholders of MagicMed an aggregate of 9,946,969 shares of common stock of Enveric, as well as warrants, options, and restricted stock units to acquire an additional 9,039,882 shares of common stock of Enveric. The current Enveric shareholders will own approximately 63.4% of the combined company’s common stock, as calculated on a fully diluted basis, and current MagicMed shareholders will own approximately 36.6% of the combined company’s common stock, as calculated on a fully diluted basis. The agreement is subject to customary closing conditions and the approval of Enveric’s and MagicMed’s shareholders and is expected to close during the second half of 2021.  Additionally, as part of the closing of the transaction, Enveric will receive approximately $4 million (CAD) in cash from the MagicMed Treasury.

David Johnson and Dr. Joseph Tucker will host a conference call to discuss the transaction today, May 24th at 8:30 a.m. ET.

Conference Call Details:

Date: Monday, May 24th
Time: 8:30 a.m. Eastern Time
Toll-Free Dial-In Number: 1-877-705-6003
International Dial-In Number: 1-201-493-6725
Conference ID: 13720013
Webcast Link: https://www.enveric.com/investors/events/

A telephone replay will be available through Monday, June 7, 2021. To access the replay, please dial 1-844-512-2921 (domestic) or 1-412-317-6617 (international). At the system prompt, please enter the code 13720013 followed by the # sign.

About Enveric Biosciences

Enveric Biosciences is a patient-first biotechnology company developing rigorously tested, novel cannabinoid medicines to improve quality of life for cancer patients. Initial indications include radiodermatitis, a common and often severe side effect of radiation therapy, and chemotherapy-induced neuropathy. For more information, please visit https://www.enveric.com/.

About MagicMed

MagicMed Industries intends to partner with pharmaceutical and other companies to develop and commercialize psychedelic-derived pharmaceutical candidates. MagicMed’s psychedelic derivatives library, the Psybrary™, is anticipated to be an essential building block from which industry can develop new patented products. The initial focus of the Psybrary™ is on psilocybin and DMT derivatives, and it is then expected to be expanded to other psychedelics such as MDMA, LSD, mescaline, and ibogaine.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Additional Information Will be Filed with the SEC

In connection with the proposed transaction between Enveric and MagicMed, Enveric intends to file relevant materials with the SEC, including a registration statement that will contain a proxy statement and prospectus. ENVERIC URGES INVESTORS AND STOCKHOLDERS TO READ THESE MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ENVERIC, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and shareholders will be able to obtain free copies of the proxy statement, prospectus and other documents filed by Enveric with the SEC (when they become available) through the website maintained by the SEC at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the proxy statement, prospectus and other documents filed by Enveric with the SEC by contacting Investor Relations by mail at Enveric Biosciences, Inc., Attn: Investor Relations, 4851 Tamiami Trail N, Suite 200, Naples, FL 34103. Investors and stockholders are urged to read the proxy statement, prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction.

Participants in the Solicitation

Enveric and MagicMed, and each of their respective directors and executive officers and certain of their other members of management and employees, may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about Enveric’s directors and executive officers is included in Enveric’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on April 1, 2021. Additional information regarding these persons and their interests in the transaction will be included in the proxy statement relating to the transaction when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can generally identify forward-looking statements by the use of forward-looking terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “explore,” “evaluate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” or “will,” or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond Enveric’s and MagicMed’s control. Statements in this communication regarding Enveric, MagicMed and the combined company that are forward-looking, including projections as to the anticipated benefits of the proposed transaction, the impact of the proposed transaction on Enveric’s and MagicMed’s business and future financial and operating results, the amount and timing of synergies from the proposed transaction, expectations regarding capital structure following the closing of the proposed transaction, the combined company’s pipeline, intellectual property protection and R&D spend, and the closing date for the proposed transaction, are based on management’s estimates, assumptions and projections, and are subject to significant uncertainties and other factors, many of which are beyond Enveric’s and MagicMed’s control. These factors include, among other things, the combined company’s ability to execute successfully its strategic plans, including its business development strategy, the expiration of patents or data protection on certain products, including assumptions about the combined company’s ability to retain patent exclusivity of certain products, the impact and result of governmental investigations, the combined company’s ability to obtain necessary regulatory approvals or obtaining these without delay, the risk that the combined company’s products prove to be commercially successful or that contractual milestones will be achieved. Similarly, there are uncertainties relating to a number of other important factors, including: results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. FDA and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies; the ability to enroll patients in planned clinical trials; unplanned cash requirements and expenditures; the amount of funds the combined company requires for its product candidates; competitive factors; the ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates; the ability to maintain key collaborations; the impact of the ongoing COVID-19 pandemic on combined company’s results of operations, business plan and the global economy; and general economic and market conditions. Additional information concerning these risks, uncertainties and assumptions can be found in Enveric’s filings with the SEC, including the risk factors discussed in Enveric’s most recent Annual Reports on Form 10-K, as updated by its Quarterly Reports on Form 10-Q and future filings with the SEC.

Important risk factors could cause actual future results and other future events to differ materially from those currently estimated by management, including, but not limited to, the risks that: a condition to the closing of the proposed acquisition may not be satisfied; a regulatory approval that may be required for the proposed acquisition is delayed, is not obtained or is obtained subject to conditions that are not anticipated; Enveric is unable to achieve the synergies and value creation contemplated by the proposed acquisition; Enveric is unable to promptly and effectively integrate MagicMed’s businesses; management’s time and attention is diverted on transaction-related issues; disruption from the transaction makes it more difficult to maintain business, contractual and operational relationships; legal proceedings are instituted against Enveric, MagicMed or the combined company; Enveric, MagicMed or the combined company is unable to retain key personnel; and the announcement or the consummation of the proposed acquisition has a negative effect on the market price of the capital stock of Enveric. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, what impact they will have on the results of operations or financial condition of Enveric or MagicMed. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on the proposed transaction and/or Enveric or MagicMed, Enveric’s ability to successfully complete the proposed transaction and/or realize the expected benefits from the proposed transaction. You are cautioned not to rely on Enveric’s and MagicMed’s forward-looking statements. These forward-looking statements are and will be based upon management’s then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. Neither Enveric nor MagicMed assumes any duty to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, as of any future date.

Investor Contacts
Valter Pinto / Allison Soss
KCSA Strategic Communications
212.896.1254 / 212.896.1267
valter@kcsa.com / asoss@kcsa.com

Media Contacts
Caitlin Kasunich / Raquel Cona
KCSA Strategic Communications
212.896.1241 / 516.779.2630
ckasunich@kcsa.com / rcona@kcsa.com

SOURCE Enveric Biosciences

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CORE ONE LABS PROVIDES CLARIFICATION ON TRADING ACTIVITY

Vancouver, British Columbia, Canada – May 21, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or ”Core One”).  This news release is issued at the request of the Investment Industry Regulatory Organization of Canada (“IIROC”) and the Canadian Securities Exchange (“CSE”).  Statements made in the news release issued by the Company on May 4, 2021 indicated that the Company had been made aware of potentially manipulative trading activity in its common shares.  The news release issued on May 4, 2021 was not reviewed by IIROC or the CSE prior to dissemination, and to date the Company has not filed a formal complaint with any regulatory authority regarding this trading activity.

While the Company has analyzed trading activity in the period leading up to the issuance of the news release on May 4, 2021, conclusive evidence has not been uncovered to determine whether manipulative activity resulted in a depreciation of the Company’s share price.  The Company notes that other factors may have contributed to, or resulted in, the price depreciation experienced by the Company during this time period.

The final report of the Capital Markets Modernization Taskforce, an independent taskforce established by the Province of Ontario, concludes that the current regulatory regime in Canada surrounding short selling is not stringent enough to ensure that appropriate steps are taken to confirm that adequate securities are available to settle short sale orders.  A copy of the final report is available for review at this link:

https://files.ontario.ca/books/mof-capital-markets-modernization-taskforce-final-report-en-2021-01-22-v2.pdf

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

Cautionary Disclaimer Statement:

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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Mydecine Provides Update on Spin-Out of U.S. Cannabis Assets

Published at globenewswire.com

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DENVER, May 19, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company”), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today provided an update on its strategic reorganization (the “Spin-Out”) pursuant to which the Company intends to spin off its U.S. cannabis assets and its interests in U.S. cannabis projects into a newly incorporated subsidiary (“SpinCo”) in order to spin off its holdings of common shares in SpinCo to its existing shareholders. The Company expects to receive the interim order from the Supreme Court of British Columbia on or about June 7, 2021. Then, subject to approval of the shareholders, the Spin-Out is anticipated to close on or about the week of July 12, 2021.

The purpose of the Spin-Out will be, among other things, to permit the Company to comply with NASDAQ Listing Qualification requirements and comparable London Stock Exchange requirements regarding cannabis assets as the Company continues its listing review process with NASDAQ. Management believes that holding the U.S. cannabis assets and cannabis projects in a separate public company removes an unintended obstacle to its planned NASDAQ and London Stock Exchange listings and the expected benefits that such listings will provide the Company and its shareholders. Additionally, the Company plans to leverage and monetize the Company’s U.S. cannabis assets and cannabis projects and commercial relationships in the sector by spinning out the Company’s U.S. cannabis assets and cannabis projects into SpinCo.

It is proposed that the Spin-Out will be carried out by way of statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia). Under the terms of the Spin-Out, shareholders of the Company will receive common shares of SpinCo on a pro rata basis based on the number of common shares of the Company held. The number of common shares of SpinCo to be issued to each shareholder of the Company under the Spin-Out has not yet been determined. There will be no change in shareholders’ holdings in the Company as a result of the Spin-Out.

The proposed Spin-Out will be subject to approval of shareholders of the Company, which the Company intends to seek at its next annual general and special meetings of shareholders (the “Shareholders’ Meeting”). The date for the Shareholders’ Meeting has not yet been determined. The Spin-Out also requires the approval of the British Columbia Supreme Court

Following the completion of the Spin-Out, SpinCo intends to make an application to list the SpinCo common shares on either the Canadian Securities Exchange or the NEO Exchange, but no assurance can be provided that such a listing will be obtained in a timely manner or at all. Any such listing will be subject to SpinCo fulfilling all the requirements of the applicable stock exchange.

Further details in respect of the Spin-Out, including the date for the Shareholders’ Meeting and the number of SpinCo common shares to be granted to shareholders of the Company will be announced in the near future. Readers are cautioned that the final details of the Spin-Out has yet to be determined and there is no certainty that the Spin-Out will be completed on the terms currently proposed or at all.

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Forward-looking statements herein include, without limitation, statements relating to completion and timing of the Spin-Out, the listing of securities of the Company on NASDAQ or the London Stock Exchange, benefits of the Spin-Out for shareholders of the Company, the structure of the Spin-Out, SpinCo being able to leverage and monetize the Company’s U.S. cannabis assets and cannabis projects, the listing of the common shares of SpinCo on a stock exchange and the Company’s ability to build out a robust R&D pipeline. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the ongoing COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Mydecine Reports First Quarter 2021 Financial Results and Provides Business Update

Published at globenewswire.com

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DENVER, May 18, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today reported its financial results for the first quarter ended March 31, 2021 and provided a business update.

“Mydecine accomplished a number of key milestones in the first quarter of 2021 which collectively advanced our mission to bring one of the most robust portfolios of nature-sourced psychedelic-assisted therapeutics to the forefront of the mental health industry,” stated Joshua Bartch, CEO of Mydecine. “Most notably, we achieved the first-ever international export of psilocybin mushrooms and solidified our clinical and commercial supply chain in order to advance our R&D. This supply advantage, combined with our API and LeadGens Lab partnerships, strategically advances our drug development and clinical trials, further positioning Mydecine to lead the next-generation of synthetic and naturally-derived psilocybin novel compounds. We are extremely pleased to have reached this critical point in our development and look forward to building upon these successes in the months ahead.”

Mr. Bartch added, “In addition to the key operational milestones achieved In the first quarter of 2021, we raised C$20 million, and I am pleased to report that Mydecine is well-funded to continue to strategically act on our growth strategy, including the advancement of our IP portfolio, build out of our clinical trial calendar, expansion of our European operations and development of our technology division.”

Business Highlights During and Subsequent to the First Quarter 2021

Enhanced Partner Relationships

  • Entered into an exclusive partnership with Applied Pharmaceutical Innovation (API) at the University of Alberta, and further expanded capabilities that enable support of multiple drug development and clinical trial programs simultaneously.
  • Partnered with LeadGen Labs, a custom synthesis and contract research organization, to support the Company’s novel psychedelic drug development efforts and considerably increase the number of novel molecules it can synthesize concurrently.

Secured Clinical and Commercial Supply of Psilocybin Mushrooms

    Completed the first-ever international export of psilocybin mushrooms from a private mycology-focused research and cultivation facility in Jamaica.

Further Developed International Operational Footprint

  • Michel Rudolphie, former Novartis Norway CEO and former CEO and President of Make-A-Wish International, joined the Company as President of European Operations to develop and lead strategy, business development and comprehensive success across Europe.
  • Partnered with Principal Investigator Dr. David Erritzoe at Imperial College London (ICL) to conduct leading research in psychedelics, as well as the creation of novel collaborative pyschopharmacology/psychedelic research clinic between ICL and a major mental health NHS Trust in London.

Strengthened IP Portfolio

  • Filed seven provisional patent applications with the United States Patent and Trademark Office (USPTO) in its efforts to discover valuable novel compounds in fungi for medicinal and pharmaceutical use.
  • Filed provisional patent for Mindleap’s mental health technology with the USPTO and the Canadian Intellectual Property Office.

Improved Capital Markets Positioning

  • Raised C$20 million through bought deal offerings.
  • Migrated to the NEO Exchange and commenced trading on March 23, 2021.
  • Submitted formal application to list on the NASDAQ Stock Exchange.
Financial Results for the First Quarter 2021

Net Loss: Net loss attributable to common stockholders was $5.2 million for the first quarter 2021, or a basic and diluted loss per share attributable to common stockholders of $0.03, as compared to a net loss attributable to common stockholders of $0.2 million for the first quarter 2020, or a basic and diluted loss per share attributable to common stockholders of $0.01.

Cash Position: As of March 31, 2021, the Company had cash and cash equivalents of $11.3 million.

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

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On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

MYDECINE INNOVATIONS GROUP INC. (FORMERLY NEWLEAF BRANDS INC.)
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(EXPRESSED IN CANADIAN DOLLARS)

To view financial chart, visit bottom of release at globenewswire.com.

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