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Category: Optimi Health

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BETTER PLANT REPORTS FISCAL YEAR-END FINANCIAL RESULTS

Vancouver, B.C. –  March 31, 2021: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant” or the “Company”), a wellness company that develops and sells sustainable, plant-based products that are better for health and better for the earth,  reported its financial results for the year ended November 30, 2020. All amounts are in Canadian currency unless otherwise stated.

Complete, consolidated financial statements, along with related management discussion and analysis, can be found on SEDAR under the Company’s profile.

 

Key financial highlights of Fiscal 2020:

  • Annual revenues were $1,135,286, with gross profits of $737,623.
  • Product sales grew 422% from Q1 to Q4, averaging 141% growth per quarter.
  • Total revenue grew 407% from Q1 to Q4, averaging 136% growth per quarter.
  • Total assets grew by 36% from $3.4 million to $4.7 million.
  • Current ratio improved from 1.0 to 1.71.
  • No commercial debt at year end [excluding $60,000 of repayable Canadian business Emergency Business Account (CEBA)].
  • $5.6 million in financing raised through a shelf prospectus in Fiscal 2020.
  • Negative adjusted EBITDA was $5,958,136 for the year, a 44% reduction in negative adjusted EBITDA from prior year.
  • Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization, excluding certain non-operating amounts.

 

 

Key corporate highlights:

Acquisition of Jusu Assets

On October 9, 2020, Better Plant completed the purchase of assets of Jusu Bars Inc., Jusu Body Inc. and Jusu CBD Inc., a Canadian wellness brand with products in the following categories:

  • plant-based beverages including cold-pressed juices and packaged juice cleanses with nut milks, smoothies, booster shots and other products in development;
  • plant-based personal care products, including skin care, hair care, body care and baby care; and,
  • plant-based all natural home cleaning products.

Better Plant also took over ownership and operation of Jusu Bar, a quick serve restaurant alternative in Victoria, British Columbia (“BC”), which serves up fresh, healthy and nutritious options with a focus on Jusu cold-pressed juices. Through its online eCommerce platform Jusubar.com, Better Plant offers direct to consumer sales of refrigerated juices with easy online ordering and convenient home and office delivery in select cities in Alberta and British Columbia.

Growth in Product Sales

During  the year, Better Plant achieved growth in product sales through ecommerce and retail channels.  Better Plant achieved 422% growth from Q1 to Q4, averaging 141% growth per quarter.   Its key product sales in fiscal 2020 were through direct to consumer Shopify enabled eCommerce platforms as well as distribution of plant-based products through retail stores.

The following image shows the growth in Better Plant product sales each quarter in Fiscal 2020. The following image shows the growth in Better Plant product sales each quarter in Fiscal 2020:

Initial Public Offering (“IPO”) of Subsidiary NeonMind

Subsequent to the year end, Better Plant’s partially owned subsidiary NeonMind Biosciences Inc. (“NeonMind”) successfully completed its over subscribed IPO raising gross proceeds $4.6 million and initiated its listing on the Canadian Securities Exchange under the stock symbol of “NEON”.  Better Plant owns 33,313,500 shares in NeonMind (approximately 27% of its issued and outstanding shares), which are subject to a 3 year escrow agreement.

NeonMind is engaged in research and development of products to optimize human health and performance. NeonMind has two divisions, a consumer products division with a focus on mushroom infused products, and a pharmaceutical division engaged in drug development of psychedelic compounds.  In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind’s first drug candidate aims to use psilocybin to enhance a patient’s ability to adopt behaviours that cause weight loss through psychedelic-assisted cognitive therapy.  The second drug candidate offers low dose synthetic psilocybin as a treatment to suppress appetite.

 

Financial Overview

For the year ended November 30, 2020, Better Plant’s total assets grew to $4.7 million from $3.4 million for the prior year.  The majority of the growth was contributed by the acquisition of the Jusu assets  which included plant-based product formulas, brand names, customer lists, and other related intellectual property. The asset acquisition added significant breadth to Better Plant’s plant-based product offering to include house cleaning products, baby products and cold-pressed juices.

Annual revenues were $1,135,286. Product sales were $266,299 including $130,287 achieved in the fourth quarter of the year with the inclusion of Jusu product sales. Better Plant anticipates continued growth in revenue for Jusu branded products going forward. During the past year, Better Plant focused on increasing product sales, especially in the region of North America, through eCommerce and retail distribution. Licensing is no longer Better Plant’s strategic focus and the company recognized licensing revenues of $415,000 in 2020 as compared to licensing revenues of $2,659,717 for the prior year. Better Plant also significantly reduced its consulting activities and reallocated resources to growing our own brands in fiscal 2020. Consulting revenue was $51,198 for the year ended November 30, 2020 as compared to $1,017,988 for the prior year. Negative adjusted EBITDA was $5,958,136 for the year, a 44% reduction in negative adjusted EBITDA from prior year. Adjusted EBITDA is earnings before interest, taxes, depreciation and amortization, excluding certain non-operating amounts. Net loss was $9,911,844 for the year, a 38% reduction in net loss in the prior year. Better Plant raised $5.6 million in financing through a shelf prospectus in fiscal 2020.

 

About Better Plant Sciences Inc.

Better Plant harnesses plant intelligence and leverages modern science to offer sustainable, plant-based products that are better for health and better for the earth. It makes and sells over 75 proprietary products, all made with 100% natural ingredients, under the brands Jusu, Urban Juve and Wright & Well.  It has a direct to consumer platform for refrigerated goods that offers easy online ordering and convenient home delivery in select cities in Alberta and BC. Better Plant operates Jusu Bar, a quick serve restaurant alternative in Victoria, BC, which serves up fresh, healthy and nutritious options with a focus on Jusu cold-pressed juices. Jusubar.com offers home delivery of refrigerated plant-based beverages consisting of cold-pressed juices and packaged juice cleanses. Through its Shopify enabled eCommerce sites getjusu.com and urbanjuve.com, Better Plant sells plant-based personal care products, including skin care, hair care, body care and baby care. Jusu also has a line of plant-based all natural home cleaning products that are sold to cleaning companies, retailers and sold directly to consumers.  Better Plant also offers operational, financial and other services to companies with businesses that align with Better Plant’s mission to help create a better world. Better Plant incubated NeonMind, which sells medicinal mushroom infused coffees and is developing drugs with psychedelic ingredients to treat obesity and to suppress appetite. Better Plant owns approximately 27.7% of NeonMind, which trades separately as a public company under the tickers CSE:NEON and OTC:NMDBF.

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

Penny White, President & CEO

penny@betterplantsciences.com

1-833-515-2677

 

Investor Relations:

Alexandra Dumanski

invest@betterplantsciences.com

1-833-515-2677

 

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

Cautionary Statement Regarding Forward-Looking Statements

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

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MINDCURE Files Provisional Patent Application For iSTRYM, its Proprietary AI Digital Therapeutics (DTx) SaaS Platform, Designed To Enhance Effectiveness Of Psychedelic-Assisted Therapies For Practitioners And Patients

Company Now Is In Two High Growth Rate Global Markets With iSTRYM In The DTx Market, Projected To Reach $56 Billion By 2025 And The Global Psychedelic Market Projected To Reach Over $7.5 Billion By 2028

‍VANCOUVER, BC, Mar. 31, 2021 – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”) an industry leader in advanced proprietary technology for psychedelic therapy, that also identifies, develops, and commercializes various proprietary  products that enhance mental health and wellness, ease suffering, and increase productivity, is pleased to announce that it has submitted a provisional patent application with the United States Patent and Trademark Office to cover iSTRYM, the company’s proprietary digital therapeutics (DTx) tool.

iSTRYM is an investigating technology that focuses on patient feedback and data-driven insights into the efficacy of treatments in order to assist in the application of more effective and more efficient diagnosis techniques and treatments. It’s a technology that is targeted for both therapists and patients.

MINDCURE is investing significant resources into its near term revenue strategy, developing the proprietary iSTRYM technology and digital therapeutics (DTx), targeting the value that these tools offer to the emerging markets of psychedelics and psychedelic-assisted therapy. DTx are evidence-based therapies delivered via software to complement existing treatments. What is unique about DTx compared to other health care technologies is that they require approval from regulatory bodies, unlocking the potential for insurer paid revenue streams. One approved by regulatory bodies, our technology and the fact based developed & more efficient therapies it gives birth to, will be adopted and utilized across a majority of practitioner therapists and patients, and become the service tool of choice. Its designed to be the model platform that becomes the industry backbone to identify and aggregate the best and most efficient protocols optimized by AI. It quantifies a number of therapies to create a universe of personalized and precision medical therapies identified in trials and individually recommended for each patient’s unique situation and needs.

iSTRYM will arm therapists with better tools and patient insights rooted in data while providing quantified care at scale to individuals who go through the therapeutic process.

“When people think of MINDCURE, I want them to see us as the leader in technology and specifically digital therapeutics for the psychedelics industry,” said Kelsey Ramsden, President and CEO, MINDCURE. “We intend to build iSTRYM into the world’s largest data repository of psychedelic experiences, backed by science and built on trust. This is why we were so thrilled to recently receive ethics approval from Veritas for our integration protocol research study, and why we view this provisional patent application as the next milestone for iSTRYM.” She continued: “Digital therapeutics (DTx) were gaining popularity as tools to help slash the $3 trillion annual spending (in the US alone) on chronic disease, and the pandemic has vaulted digital therapies into that spotlight. We are at the right place in time and  we believe that could bode well for our shareholders.”

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Pre-pandemic, the global DTx industry was projected to reach $13.8 billion in 2025 at a tremendous CAGR of 20.5 percent, but the increased acceptance and reliance on digital health care brought about by COVID-19 has increased this projection significantly, as new forecasts anticipate the DTx market to be a $56 billion global opportunity by 2025. 2

“We believe that iSTRYM has the potential to revolutionize the way mental health is treated across the world, and know the importance of patent protection as we invest significant resources in its development and commercialization,” said Geoff Belair, CTO, MINDCURE.

The patent application was submitted on March 22, 2021 as App. No. 63/167,611.

ABOUT iSTRYM

iSTRYM, a First-of-Its-Kind, AI-Driven Mental Wellness Optimization Tool. This  proprietary technology connects researchers, therapists, and individuals to achieve tangible results in mental health care. iSTRYM enables users to collect data, monitor progress, and connect to a network of support where the data can be the source of new procedures for practitioners and patients alike. iSTRYM enables psychedelic researchers to deliver results faster with cleaner data and deeper, richer insights. It also allows a built in distribution network to share commercialized proprietary protocols. iSTRYM also arms therapists with the most robust repository of science–backed treatment protocols and care practice packages ever compiled. Therapists can provide personalized care with deeper insights and long-tail support, while increasing clinic revenue, reducing clinic hours, and increasing positive patient outcomes. We believe that this will make therapies in general and customized individual therapies effectively evolve with more experience using our science–backed content with therapists and individuals around the world.  For more information go to: https://mindcure.com/tech/

__________________

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  1. 1, 2 https://www.databridgemarketresearch.com/reports/global-psychedelic-drugs-market

The Company also announces it has granted a total of 400,000 stock options to certain employees or consultants pursuant to the terms the Company’s incentive stock option plan (“Plan”). The stock options are exercisable at a price of $0.60 per share and subject to the terms of the Plan.

About Mind Cure Health (MINDCURE) Inc.

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

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

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

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Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: iSTRYM being the lynchpin for MINDCURE’s near-term revenue strategy; MINDCURE receiving a patent for iSTRYM; iSTRYM arming therapists with better tools and patient insights rooted in data while providing quantified care at scale to individuals who go through the therapeutic process; iSTRYM potentially becoming the world’s largest data repository of psychedelic experience; and iSTRYM revolutionizing the way mental health is treated across the world.

Forward-looking information is based on a number of key expectations and assumptions made by 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 the functional mushroom industry will continue to grow; iSTRYM will receive its full patent from the United States Patent and Trademark Office; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE’s industry and MINDCURE’s business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE’s investments, results of operations, financial condition, and MINDCURE’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments iSTRYM may not receive its full patent from the United States Patent and Trademark Office; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under “Risk Factors” in MINDCURE’s final prospectus which is available on SEDAR at www.sedar.com.

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

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

SOURCE Mind Cure Health Inc.

Connect: Investor Relations: investors@mindcure.com; 1-888-593-8995

Jonathan L. Robinson CFA
Partner
Oak Hill Financial Inc.
jrobinson@oakhillfinancial.ca
416-669-1001

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JV Signed With Pure Extracts

Psyence Group and Pure Extracts sign JV letter of intent for the extraction of Psilocybin from psychedelic mushrooms and development of Psilocybin formulations.

Vancouver, B.C., March 31, 2021 (GLOBE NEWSWIRE) –Psyence Group Inc. (CSE: PSYG) (“Psyence”), and Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts”) and are pleased to announce the signing of a Letter of Intent (“LOI”) to form a Joint Venture (the “JV”) to develop superior techniques for the extraction of psilocybin from psychedelic mushrooms, as well as the development of advanced formulations containing psilocybin for the long-term treatment of psychological trauma and its mental health consequences.

Psyence is one of the world’s first psychedelic mushroom companies operating a federally legal commercial cultivation and extraction facility in Southern Africa and possessing an experienced global team of doctors and scientists striving for breakthroughs in palliative care, neurology, neuroscience and drug development.

Pure Extracts is a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector with a state-of-the-art processing facility and an application submitted to Health Canada for a Dealer’s Licence under the Controlled Drugs and Substances Act (CDSA). The companies plan to maximize the use of their combined infrastructure and networks in order to attain near-term milestones. Pure Extracts has a strong Canadian network of psychedelic mushroom experts, from cultivation to research & development, including Dr. Alexander MacGregor and his team at the Toronto Institute of Pharmaceutical Technology (TIPT), while Psyence’s network in South Africa, Lesotho and Jamaica has the expertise for the JV to rapidly develop natural psychedelics and novel drug delivery systems for patients throughout the world. Additionally, the Psyence team is experienced in structuring and running clinical trials and a near term goal will be to participate in a Canadian based, human clinical trial.

Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited about working with the deeply qualified science team at Psyence, one of only a handful of companies in the world operating a vertically integrated, federally licensed, psychedelic mushroom facility.” Dr. Justin Grant, Chief Scientific Officer of Psyence, commented, “This partnership with Pure Extracts will facilitate the importation of our standardized psychedelic mushrooms into Canada, giving us the opportunity to further optimize extraction methods and produce advanced products needed for safe clinical research. Our companies share the vision of providing the highest quality and most innovative psilocybin products for Canada, as evidenced by our facilities being constructed to GMP standards, and our commitment to rigorous scientific and clinical research for the development of transformational treatments for mental health disorders, with a particular focus on oncology palliative care.

About Psyence Group

The Psyence Group intends to set the global standard for natural psychedelics. Science-led by global experts in neurology, neuroscience and drug development, Psyence has built and operates one of the first federally licensed commercial psilocybin cultivation and production facilities. Psyence is pioneering the use of natural psilocybin for the long-term treatment of psychological trauma and its mental health consequences. Our global footprint operates across multiple legal jurisdictions, through the advanced provision of psychedelic therapy and experience, as well as market leading Functional Mushroom brands and product portfolio.

Psyence Contact Information

Lisa-Marie Iannitelli, Investor Relations
Email: ir@psyence.com
Media Inquiries: media@psyence.com
General Information: info@psyence.com

About Pure Extracts Technologies Corp

CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ)

Pure Extracts features an all-new, state-of-the-art processing facility located just 20 minutes north of world-famous Whistler, British Columbia. The bespoke facility has been constructed to European Union GMP standards aiming towards export sales of products and formulations, including those currently restricted in Canada, into European jurisdictions where they are legally available. On September 25, 2020, Pure Extracts was granted its Standard Processing License by Health Canada under the Cannabis Act and the company’s stock began trading on the Canadian Securities Exchange (CSE) on November 5, 2020.

Website: https://pureextractscorp.com/.

For further information please contact Empire Communications Group at (604) 343-2724.

This news release contains forward-looking statements relating to the future operations of Pure Extracts, and the other statements are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of Pure Extracts’, are forward-looking statements and involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of Pure Extracts include risks detailed from time to time in the filings made by Pure Extracts under securities regulations.

Certain statements in this news release related to Psyence Group Inc and its subsidiaries (collectively “the Company”) are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the approval of the Study and related activities by, and the obtaining of the requisite licences and consents from, the Jamaican regulatory and governmental authorities, the anticipation of the enactment or publication of regulation in the Jamaican psilocybin sector and the optimism surrounding the anticipated positive outcomes of the Study. 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. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements. The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.

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New Wave subsidiary, Way of Will Inc., announces completion of production staff training as part of goal to becoming GMP certified

TORONTO, March 30, 2021 /CNW/ – NEW WAVE HOLDINGS CORP. (the “Company” or “New Wave”) (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNF) an investment issuer that provides capital and support services, is pleased to announce the successful completion of their production staff training last week as part of the company’s larger plan to obtaining their GMP certification.

Logo New Wave Holdings (CNW Group/New Wave Holdings Corp.)
Logo New Wave Holdings (CNW Group/New Wave Holdings Corp.)

In the wake of its recent facility expansion, as well as the strategic collaboration with e-commerce optimization experts N2 Logics, Way of Will has been making leaps in their progress toward expanding their market presence in Canada as well as online. Now, the rapidly growing health and wellness brand has set their sights on becoming GMP certified. This month, the production team successfully completed training in Good Manufacturing Practices led by Mr. Iman Navab, the founder of Dynamise and a member of New Wave’s scientific advisory board.

The GMP (Good Manufacturing Practices) certification is a widely recognized accreditation that verifies a manufacturer’s dedication and commitment to adhering to international GMP standards. While Way of Will’s production staff has always been compliant with GMP standards, officially obtaining the certification will increase the brand’s credibility as they uphold an internationally recognized manufacturing standard. Companies that are GMP certified instill greater confidence in their customers, as the products are manufactured in compliance with the highest manufacturing standards to ensure product safety and quality.

Production staff and supervisors were trained to implement Standard Operation Procedures and Good Manufacturing Practices related to their roles and responsibilities within the production department, which included the following:

  • Facilities Sanitation Program
  • Equipment and Utensils Sanitation Program
  • Product Specifications Recordings
  • QC Sampling and Testing
  • Equipment Maintenance
  • Good Hygiene Practices (e.g., safe handling of materials to prevent cross-contamination)
  • Receipt and Control of Materials
  • Good Documentation Practices

“We’re extremely pleased that our production team has received this critical training to get us one step closer to acquiring our GMP certification,” commented Willie Tsang, founder and CEO of Way of Will. “With the significant growth—of both our facility here and our online sales—that the company has witnessed in the recent months, it is crucial that we work even harder to keep up with the progress. I have the utmost confidence in our team, who is guided by strong leaders and who is well-equipped to excel at whatever goals we set our sights on. We will continue supporting our staff and providing the necessary resources to elevate our team to the next level.”

ABOUT NEW WAVE HOLDINGS CORP.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTCPK: TRMNF) is an investment issuer focused on the burgeoning nutraceutical and psychedelic sector and support for adaptive and progressive health and wellness products and therapies. New Wave subsidiaries contain various health and beauty products within its portfolio of non-psychoactive plants and fungi as it continues to expand its product distribution through vertical integration to provide end to end solutions while capturing a high margin business model.

Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com.

Information relating to WAY OF WILL INC., contained in this news release was provided by WAY OF WILL INC. and/or its agent and has not been independently verified by the Company. The Company does not take responsibility for the accuracy of such information.

The CSE has not in any way passed on the merits of the Acquisition, and neither has approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward–looking information, including but not limited to, applicable regulatory approval in connection with the Acquisition, the closing of the Acquisition, expansion of operations, size and quality of future tournaments and projections regarding attendance at future events. Forward–looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward–looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company’s actual results could differ materially from those anticipated in this forward–looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation 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 legislation.

Cision
Cision

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SOURCE New Wave Holdings Corp.

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Mindset Pharma Expands Scientific Team: Dr. Malik Slassi Appointed Senior VP Innovation and Ian Dean Appointed Director Preclinical Development

Toronto, Ontario–(Newsfile Corp. – March 30, 2021) – Mindset Pharma Inc. (CSE: MSET) (OTCQB: MSSTF) (FSE: 9DF) (“Mindset” or the “Company“), a drug discovery and development company focused on developing next generation psilocybin and N,N-Dimethyltryptamine (DMT) inspired medicines and related technologies, is pleased to announce that it has expanded its scientific leadership team with the appointment of Dr. Malik Slassi as Senior Vice President of Innovation in a full time capacity and the appointment of Mr. Ian Dean as Director of Preclinical Development.

As an originating member of Mindset’s Scientific Advisory Board, Dr. Slassi is the architect of the Company’s portfolio of novel and differentiated psychedelic drug families, along with the Company’s patent pending psilocybin synthesis process. Dr. Slassi has over 30 years of experience in successful identification and development of small molecule drug candidates across multiple therapeutic areas and a record of numerous successes in medicinal chemistry, with approximately 24 drugs advanced into late-stage preclinical development, clinical development, and introduction into the pharmaceutical market. Prior to joining Mindset, Dr. Slassi was Senior Vice President of Discovery Research at Trillium Therapeutics Inc., which he joined following the successful sale to Trillium Therapeutics Inc. of Fluorinov Pharma Inc., a medicinal chemistry platform company of which Dr. Slassi was the founder, President and Chief Scientific Officer. Dr. Slassi holds a Ph.D. in Chemistry from the University of Claude Bernard, Lyon, France. He completed his postdoctoral work in the Chemistry Department at the University of Montreal, Canada, and has held management and scientific leadership positions with several recognized multinational pharmaceutical companies.

Dr. Slassi commented: “Mindset is one of the few truly innovative discovery research and development engines in the emerging medical psychedelic field, which represents a promising potential commercial opportunity in the treatment of mental health disorders. I am pleased to contribute to our leadership team as we focus on strengthening Mindset’s patent portfolio of novel products. Mindset’s strategy of maximizing the value of its pipeline through clinical validation has the potential to transform the patient journey in managing a range of mental health indications.”

James Lanthier, Chief Executive Officer of Mindset, commented: “We are thrilled to have Dr. Slassi join Mindset on a full-time basis. Malik’s insights into drug design and medicinal chemistry as they apply to the serotonergic system and the central nervous system are formidable and given the timing of our innovations, Mindset is well positioned to continue to play a pioneering role in developing next generation, novel psychedelic medications.

Additionally, Mindset is pleased to welcome Ian Dean as Director, Preclinical Development. Ian is a seasoned toxicologist and pharmacology professional with over 40 years of intensive expertise in drug development. Mr. Dean has served in the roles of VP Business Development and Toxicology as well as Chief Scientific Officer for several organizations providing investigational new drug-enabling and clinical development services to global pharmaceutical clients. Mr. Dean is a Diplomate of the American Board of Toxicology and the Institute of Biology in Toxicology as well as a European Registered Toxicologist. Mr. Dean will assist Mindset in advancing its lead compounds through investigational new drug-enabling studies into clinical programs.”

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com
647-938-5266

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. 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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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

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HAVN LIFE SCIENCES SIGNS LOI TO RESEARCH AND DEVELOP MEDICAL PSILOCYBIN WITH JAMAICAN COMPANY HYPHA WELLNESS

Havn Life believes operations can advance its business plan and potentially accelerate production of naturally-derived psilocybin for global medical research.

Vancouver, BC – Havn Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the “Company” or “Havn Life”), a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, has entered into a letter of intent (LOI) with nutraceutical company Hypha Wellness Jamaica Psilocybin (HWJP) towards jointly researching and, subject to compliance with all applicable laws and regulations, producing standardized powdered homogenized psilocybin mushroom active pharmaceutical ingredient (API) products.

Headquartered in Kingston, HWJP is focused on the cultivation, extraction, and manufacturing of nutraceuticals. They are uniquely positioned to explore and optimise the therapeutic and commercial potentials of psilocybin and other fungi for local and international markets. This collaboration is expected to further Havn Life’s goal of developing a supply chain for regulated production of medical psilocybin. Working with Veterans and thought leaders in the military, Havn Life is developing innovative formulations to support future clinical trials addressing PTSD recovery and other trauma related disorders, empowering people to connect to their potential and thrive.

Havn Life also notes that it is developing a production facility in Jamaica to produce psychedelic mushroom API. The Company is also actively engaged in pursuing additional opportunities to collaborate with the scientific and business communities in Jamaica.

Havn Life believes that setting up operations in Jamaica will advance the Company’s ability to optimize standardized quality controlled production methods for naturally-derived psilocybin, accelerating its overall business plan.  Collaborating with HWJP also brings local knowledge and insight to the Company’s operation, potentially paving the way towards the development of functional standards across the industry.

“Growing regulated psilocybin mushrooms for medical research is a very complex process. Our Jamaican collaborations are expected to allow us to optimize and refine our processes faster than we could elsewhere. Most importantly, they’re expected to better facilitate Havn Life’s commitment to helping patients, specifically those participating in observational studies in Jamaica,” says Dr. Ivan Casselman, Chief Psychedelic Officer of Havn Life. “Havn Life’s work in Jamaica is aimed at furthering our mandate of supplying safe, quality controlled, psilocybin medicine to researchers and patients around the globe. We want to supply as many researchers as we can with naturally derived compounds and this partnership will bring us one step closer to our goal of building an international psychedelic supply chain framework.”

For HWJP, the partnership represents a major milestone in its work toward facilitating industry growth and building an innovative framework for creating and distributing Jamaican nutraceuticals and pharmaceuticals across the island and around the world.

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

About Havn Life Sciences Inc.

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

Connect

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

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

Media Contact
savi@emergence-creative.com
(647) 896-8078

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New Wave Subsidiary, N2 Logics, Commences Phase Two of Way of Will’s E-commerce Optimization

TORONTO, March 23, 2021 /CNW/ – NEW WAVE HOLDINGS CORP. (the “Company” or “New Wave”) (CSE: SPOR) (FWB: 0XM2) (OTCPK: TRMNF) an investment issuer that provides capital and support services, announced that N2 Logics has begun Phase Two of the e-commerce optimization strategy for Way of Will.

New Wave Holdings (CNW Group/New Wave Holdings Corp.)
New Wave Holdings (CNW Group/New Wave Holdings Corp.)

Following the recent implementation of a series of strategies aimed at optimizing Way of Will’s e-commerce platform, N2 Logics has now commenced Phase Two of their plan to further leverage the health and wellness company’s online presence and sales. The execution of this second phase is expected to achieve an 8% organic traffic growth month over month.

This second stage will involve:

  • E-commerce SEO optimization
  • Content marketing
  • Content optimization
  • Improving email marketing strategies
  • Implementing new site architecture as part of the website redesign process
  • Conversion rate optimization

“We’ve already seen notable progress with our sales growth since the completion of the first phase of our website optimization led by the N2 Logics team,” commented Willie Tsang, founder and CEO of Way of Will. “We are confident that, with the continued combined efforts of Way of Will and N2 Logics, our online presence and sales growth will exceed our goals and expectations.”

N2 Logics boasts an impressive track record of helping businesses achieve 300%+ yearly growth rate in sales. Their expertise in digital optimization has led to a successful performance history with demonstrated returns on investments for businesses with whom they partner.

“We’re excited to be diving into Phase Two of the e-commerce optimization plan for Way of Will’s website,” said N2 Logics CEO, Joshua Neilly. “We’ve made some crucial changes and have seen significant progress as a result – and we’re just getting started. With the execution of our optimization strategy, we’re anticipating a 100% – 200% online growth for Way of Will in the next year or so, at the very least.”

ABOUT NEW WAVE HOLDINGS CORP.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTCPK: TRMNF) is an investment issuer focused on the burgeoning nutraceutical and psychedelic sector and support for adaptive and progressive health and wellness products and therapies. New Wave subsidiaries contain various health and beauty products within its portfolio of non-psychoactive plants and fungi as it continues to expand its product distribution through vertical integration to provide end to end solutions while capturing a high margin business model.

Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com.

Information relating to WAY OF WILL INC., contained in this news release was provided by WAY OF WILL INC. and/or its agent and has not been independently verified by the Company. The Company does not take responsibility for the accuracy of such information.

The CSE has not in any way passed on the merits of the Acquisition, and neither has approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward–looking information, including but not limited to, applicable regulatory approval in connection with the Acquisition, the closing of the Acquisition, expansion of operations, size and quality of future tournaments and projections regarding attendance at future events. Forward–looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward–looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward–looking information. The Company’s actual results could differ materially from those anticipated in this forward–looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward–looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward–looking information should not be unduly relied upon. Any forward–looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation 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 legislation.

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SOURCE New Wave Holdings Corp.

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Psilocybin Data Study Agreement Reached Between Silo Wellness and Ehave Using Brain Scientific Mapping Neurocap

TORONTO, March 23, 2021 (GLOBE NEWSWIRE) — Silo Wellness Inc. (“Silo Wellness”) (CSE: SILO), a wellness company in the psychedelics and functional mushroom marketplaces and Ehave, Inc. (OTC Pink: EHVVF), a provider of digital therapeutics for the psychedelic and mental health sectors, announced today plans to collaborate on a data- study in coordination with select volunteer participants of Silo Wellness’ Jamaican psilocybin-facilitated wellness retreats.

The study will focus on studying transitions in and out of the altered state of consciousness caused by psychedelic molecules and offer a safe and powerful means of advancing knowledge on the neurobiology of non-ordinary conscious states. Advancing the understanding of the neurobiological underpinnings of immersive states of consciousness could ultimately help researchers find better treatment approaches for diseases such as chronic pain, depression (major and persistent), bipolar disorder, general anxiety, ADHD and Schizophrenia. Ehave’s proprietary dashboard will be used to collect and sort data from the brain mapping study.

Ehave will integrate Brain Scientific’s NeuroCap and NeuroEEG to acquire data from participants in real time. The study with Silo Wellness will allow Ehave to deploy NeuroCap and NeuroEEG in order to capture the data around the electrophysiological changes in brain pre-, mid-, and post-psychedelic drug administration. This will allow researchers to measure the efficacy of psychedelic molecules on various mental health indications that might open new doorways for psychedelic research and development of molecules to address various mental health disorders with great precision and efficiency.

Ehave CEO, Ben Kaplan said, “Brain mapping reveals which areas of the brain are not working the way they should, as well as how those areas are affected by external factors.” Mr. Kaplan continued, “The brain mapping process will allow us to see inside the brain to identify the effects of psilocybin molecules and its derivatives on brainwaves. From the data we receive from the brain map, a report will be generated for each patient that shows the areas affected.”

“Silo Wellness is delighted to collaborate on discovering innovative methods to assist in delivering the most optimal experience of wellness retreat participants through the screening of psychoactivity, which may enable us to learn even more about therapeutic dosing of psilocybin products,” commented Douglas K. Gordon, Chief Executive Officer of Silo Wellness. “Scientific approaches such as this align with our ongoing commitment to leverage technology, applications and formats, such as our patent-pending psilocybin nasal spray, to both destigmatize and transform the psychedelics landscape.”

The study will assimilate data of select volunteers of Jamaican psilocybin retreat participants by measuring brain activity for a duration of 15-30 minutes before the administration of psilocybin and its derivatives. The participant shall wear an EEG neurocap during the entire process of the study and for 15-30 minutes after the administration of the psilocybin and its derivatives.

“This study will be conducted using EEG devices to measure the brain activity before, during, and after administration of psilocybin and its derivatives. To conduct the test, we place a comfortable cap on the individual’s head. The cap contains sensors that measure brainwaves of various frequencies. This is an entirely non-invasive reading of the brain’s activity and frequency patterns,” said Alfred Farrington II, Chief Information Officer of Ehave.

Dr. Manideep Gopishetty, Medical Advisor for Ehave said, “Understanding the effects psychedelics have on human brain activity and how it’s impacting the consciousness could be a key to building a more sustainable and effective treatment protocol for various mental health disorders.”

“This is part of Silo Wellness’s commitment to the advancing psychedelic compounds in familiar delivery modalities,” stated pharmacologist Dr. Parag Bhatt, Silo medical advisor and co-inventor of the nasal spray. “We are using this endeavor to evaluate the feasibility of an advanced tool to potentially use in a future study to prevent hyper-therapeutic dosing of psychedelics in line with our psilocybin nasal spray and other metered-dosing patent application claims.”

Ehave will be responsible for collecting and sorting data from the brain mapping study with its Ehave Dashboard. Ehave will also be responsible for designing the protocol for the brain mapping study, finalizing the principal investigator and medical monitor, providing the EEG equipment, as well as training the ground staff in Jamaica to handle the EEG equipment.

In addition to developing and facilitating the psilocybin-assisted wellness retreat agenda, Silo Wellness will be responsible for procuring the retreat sites for the brain mapping study to take place in Jamaica. Silo Wellness will also be responsible for facilitating the administration of psilocybin and its derivatives in natural variants.

Silo Wellness Grant of Incentive Stock Options

Silo Wellness announces that it has granted 5,500,000 stock options to certain directors, officers and consultants of Silo Wellness pursuant to Silo Wellness’ stock option plan. The stock options vest immediately and may be exercised at a price of $0.25 per common share for a period of five years from the date of issue. This grant of options is subject to the approval of the Canadian Securities Exchange.

About Silo Wellness

The mission of Silo Wellness is to improve health and wellness by developing and introducing psychedelic medicine to reduce trauma and increase performance by destigmatizing the active compounds in psychedelics and innovating ease of administration and ingestion. Silo Wellness intends to introduce new, safe, and affordable alternatives to current medicines by facilitating entry into new and emerging markets where psychedelics are legal by conducting ketamine and psilocybin wellness retreats and elsewhere by manufacturing and distributing functional mushrooms.

Since inception, Silo Wellness’ activities have focused on: (1) development of psilocybin-free functional mushroom tinctures; (2) the development of the formulation of a psilocybin nasal spray in Jamaica; and (3) offering of Jamaican and Oregon psychedelic wellness retreats as well as the cultivation of psychedelic mushrooms in Jamaica. None of Silo Wellness’ products claim to cure or mitigate any physical or mental disease, symptoms, disorders or abnormalities. Additional information on Silo Wellness can be found on the Company’s website at: www.silowellness.com.

For further information, please contact: www.SiloWellness.com

Media Relations:
Stuart Kirby, VP of Marketing and Communications
press@silowellness.com

Silo Wellness Investor Relations:
(604) 343-2724
IR@silowellness.com

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.

The Ehave Dashboard is a data driven platform that has been strategically developed to provide better communication among medical practitioners and health care providers. The aggregation of data and information into one application has proven effective in streamlining the health process for both patients and providers. The Ehave Dashboard has been developed through years of testing with mental healthcare professionals at one of Canada’s largest hospitals, The Hospital for Sick Children in Ontario. In addition to providing better outcomes, the proprietary platform allows individuals to take control of their physical and mental health by enabling them to carry their medical records with them wherever they go. As a result of a strategic partnership with BurstIQ to further develop the blockchain capabilities of its platform, the Ehave Dashboard has the ability to segment data on-chain, which will allow developers, clinicians, researchers, doctors, hospitals, universities and, ultimately, prescribers of Psychedelic therapy, to provide life-changing solutions to patients. BurstIQ is a HIPAA and GDPR compliant global data platform, and the industry’s only Big Data blockchain that keeps data on chain and safe in the cloud.

Contact for 20/20 Global and Ehave

Media Inquiries: Gabe Rodriguez
Email: Gabe@Ehave.com

Investor Relations:

Email: Ir@Ehave.com
Phone: (623) 261-9046

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the brain mapping study partnership with Ehave, the grant of incentive stock options and the business plans of Silo Wellness. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties and the potential impact of COVID-19. 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.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Silo Wellness assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

All information contained in this news release with respect to Ehave and Silo Wellness was supplied by each party respectively for inclusion herein and each party has relied on the accuracy of such information without independent verification.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Mindset Pharma and InterVivo Solutions to Jointly Develop Advanced Cooperative Psychedelics Evaluation Platform (“Cope”); Cope Expected to Be World’s First in Vivo Psychedelic Benchmark Data Set

Toronto, Ontario–(Newsfile Corp. – March 23, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) (“Mindset” or the “Company“), a biotechnology company focused on developing next generation psychedelic medicines and related technologies, is pleased to announce that it has entered a co-development agreement with InterVivo Solutions Inc. (“InterVivo” or “IVS“), to co-develop a new translational testing platform that Mindset and InterVivo expect will introduce an industry standard against which the performance and efficacy of breakthrough psychedelic medicines are compared and assessed.

Management of each of Mindset and InterVivo believe that the psychedelic pharma industry will benefit greatly from a standardized reference data set to identify and develop medicines with enhanced therapeutic benefit and improved safety and pharmacological profiles. Mindset and InterVivo intend to establish the first comprehensive psychedelics benchmark reference data set by evaluating a broad range of psychedelic drugs through a proprietary program of in vivo tests conducted at InterVivo’s facility. It is anticipated that the Co-operative Psychedelics Evaluation Platform (“COPE“) will be an invaluable tool to guide the development of next-generation psychedelic compounds and improve patentability and value in new molecule drug assets. Mindset and InterVivo intend to make COPE available to InterVivo’s clients who are pursuing psychedelics drug development projects; with first data compilations to be available on or before June 12, 2021.

The project will be co-led by IVS’s Chief Scientific Officer, Dr. Guy Higgins, and VP R&D, Dr. Inés de Lannoy, and will focus on establishing both pharmacological and pharmacokinetics data sets using sophisticated behavioural assays as well as state-of-the art in vivo sampling and analytical techniques. Mindset will co-sponsor the project and will incorporate the testing technology and data sets into their own lead optimization programs.

Dr. Guy Higgins, Ph.D., Chief Scientific Officer of InterVivo and a Scientific Advisory Board member of Mindset, commented, “To design better and safer drugs, we must carefully establish the limitations of the current psychedelics. The combination of our behavioural pharmacology, pharmacokinetic and early (non-GLP) safety expertise puts us in an excellent position to characterise these for the purpose of identifying improved molecules, both for standard-dosing and micro-dosing purpose. Our vision is to bring significant value to our sponsors who are active in this field, with the ultimate goal of delivering next generation medicines to benefit both patients and practitioners.”

James Lanthier, CEO of Mindset commented, “We are excited to partner with InterVivo in this innovative initiative. We believe that the COPE platform will be a unique asset and will create significant value for the emerging psychedelics drug development market. We expect that the data from COPE will help both Mindset and the broader psychedelics field to identify specific pharmacological improvements, strengthen intellectual property rights, and achieve key development milestones in a more efficient and cost-effective manner.”

CONTACT:

James Lanthier
CEO
jlanthier@mindsetpharma.com

Jason Atkinson
VP, Corporate Development
jatkinson@mindsetpharma.com

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. www.mindsetpharma.com

About InterVivo Solutions

InterVivo Solutions (IVS) is Canada’s top neuroscience contract research organization, offering translational research services with a focus on next-generation neuroscience drug discovery. IVS offers in vivo proof of concept efficacy, drug metabolism, pharmacokinetics and early safety research studies for a global client base.

www.intervivo.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. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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

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PsyBio Therapeutics Initiates Process Development of Proprietary Biosynthetic Norbaeocystin

OXFORD, Ohio and COCONUT CREEK, Fla., March 23, 2021 /CNW/ – PsyBio Therapeutics Corp. (TSXV: PSYB) (“PsyBio” or the “Company“), a leader in the field of psychedelic research and drug development, has initiated process development of its proprietary biosynthetic formulation of norbaeocystin in collaboration with the Advanced Biofuels and Bioproducts Process Development Unit, a scale-up facility managed by Lawrence Berkeley National Laboratory, a U.S. Department of Energy national laboratory. Norbaeocystin is an analogue of psilocybin and is not a controlled substance. The Company has commenced Phase I of this process, including analytical chemistry technical transfer to establish detection methods for fermentation products and key feedstocks and metabolites.

“We are pleased to have moved our second product candidate intended to be utilized in conjunction with psilocybin from the laboratories of Dr. J. Andrew Jones at Miami University to a governermental research facility to begin preprarations to scale production of our proprietary biosynthetic norbaeocystin in anticipation for use in clinical trials,” said Evan Levine, Chief Executive Officer of PsyBio. “This is a continuation of our endeavors to develop more nature inspired psychedelic therapeutics with improved characteristics and properties versus monotherapy psilocybin which is currently being studied broadly for potential activity against depression, anxiety, PTSD and substance abuse.”

In collaboration with Miami University, Oxford Ohio, PsyBio is developing a portfolio of tryptamine derived therapeutic candidates inspired by plants and fungi with psychedelic properties that are intended to be studied in clinical trials to determine efficacy to improve patient outcomes for a variety of mental health and other disorders. Utilizing an efficient patent pending bacterial synthesis process, the Company is endeavoring to deliver a next generation of targeted psychoactive medications. It is expected that PsyBio’s method enabling the rapid generation of a highly stable compound will be cheaper, faster and greener than any other published production method.

“In recent years, psilocybin has been broadly accepted as a therapeutic candidate for a variety of health challenges, however, naturally occuring intermediates in the pathway have not shared similar research attention despite sharing many structural similarities to psilocybin”, stated J. Andrew Jones, Ph.D., Chairman of the Company’s Scientific Advisory Board. “Our research is based on studying these other metabolites from the biosynthetic pathway to potentially develop superior therapeutics with improved medicinal properties. Through our research collaboration with Dr. Matthew McMurray in the psychology department at Miami University and direct access to an in house vivarium, we have been developing and filing intellectual property on tryptamine combinations that have not previously been studied, yet have demonstrated early indications of unique properties that our team is optimizing for intended clinical use.”

About PsyBio Therapeutics Corp.

PsyBio is a biotechnology company developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health and other disorders. The team has experience in drug discovery based on synthetic biology as well as clinical and regulatory experience moving drugs through human studies and regulatory protocols. Research and development are currently ongoing for naturally occurring tryptamines found in different varieties of magic mushrooms, other tryptamines and phenethylamines and combinations thereof. The Company is also researching and developing new molecular structures that do not occur in nature which may have unique therapeutics properties.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including assumptions regarding: PsyBio’s ability to protect its intellectual property within the next year and its ability to file new patent applications within that timeframe; PsyBio’s ability to be successful in discovering new valuable target molecules; PsyBio’s ability to obtain Investigation New Drug Applications and obtain all necessary approvals for clinical trials; PsyBio’s ability to develop more nature inspired psychedelic therapeutics with improved characteristics; the safety and efficacy of PsyBio’s technology; that drug development involves long lead times, is very expensive and involves many variables of uncertainty; and that PsyBio’s technology will be cheaper, faster and greener than other published methods. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting PsyBio’s business and results of operations; decreases in the prevailing process for psilocybin and nutraceutical products in the markets in which PsyBio operates; the impact of COVID-19; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

PsyBio makes no medical, treatment or health benefit claims about PsyBio’s proposed products. The U.S. Food and Drug Administration (the “FDA“) or other similar regulatory authorities have not evaluated claims regarding psilocybin and other next generation psychoactive compounds. The efficacy of such products have not been confirmed by FDA-approved research. There is no assurance that the use of psilocybin and other psychoactive compounds can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. PsyBio has not conducted clinical trials for the use of its intellectual property. Any references to quality, consistency, efficacy and safety of potential products do not imply that PsyBio verified such in clinical trials or that PsyBio will complete such trials. If PsyBio cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the PsyBio’s performance and operations.

The TSX Venture Exchange (the “TSXV”) has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE PsyBio Therapeutics Corp.

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View original content: http://www.newswire.ca/en/releases/archive/March2021/23/c9986.html

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