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Category: Optimi Health

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Mindset Pharma Appoints Leading Molecular Pharmacologist & Formulation Expert Dr. Joseph Gabriele to Scientific Advisory Board

Toronto, Ontario–(Newsfile Corp. – March 8, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (“Mindset” or the “Company“) is pleased to announce that it has appointed Dr. Joseph Gabriele, a molecular pharmacologist specializing in signal transduction within the central nervous system, to its scientific advisory board (“Scientific Advisory Board“). Dr. Gabriele specializes in molecular pharmacology, transdermal delivery and formulation chemistry with pharmaceutical, natural molecules. In his role on Mindset’s Scientific Advisory Board, Dr. Gabriele will provide strategic guidance to the Company with respect to its clinical and product formulation strategy.

Dr. Gabriele led the development of a transdermal delivery platform, delivraTM that can be tailored to carry drugs across the skin and into the skin dermis, circulatory system or muscles. As a co-founder of Delivra Corp. in 2007, Dr. Gabriele and his team developed a transdermal platform that can shuttle small biologics to large peptides across the skin layers in a targeted, specific manner. As an industrial partner with the National Research Council of Canada, Dr. Gabriele’s group conducts research in analytical/molecular biology laboratories located in Quebec and Ontario, Canada.

Dr. Gabriele has received numerous awards throughout his career including a Canadian Institutes of Health Research (CIHR) studentship award in pharmacology, a Natural Sciences and Engineering Research Council of Canada (NSERC) Graduate Scholarship, and an Ontario Mental Health Foundation Postdoctoral Fellowship. In 2007, he received the International Congress on Schizophrenia Research “New Investigator Award,” and in 2008, the Hamilton Health Sciences “New Investigator Award.” In 2018, Dr. Gabriele was the recipient of the Ernst & Young Entrepreneur of the Year in the health care category. Dr. Gabriele has extensive experience in start-up companies that commercialize products for medical sciences and the health care industry.

James Lanthier, Chief Executive Officer of Mindset, commented, “Mindset is thrilled to have Dr. Gabriele join its Scientific Advisory Board. Mindset will benefit greatly from Dr. Gabriele’s extensive experience in drug and delivery product development, which will be critical as Mindset progresses its drug candidates towards clinical trials.”

Dr. Gabriele is joined by Dr. Malik Slassi, Dr. Michael Ragowski and Dr. Guy Higgins on the Company’s Scientific Advisory Board.

As consideration for Dr. Gabriele’s services as a member of Mindset’s Scientific Advisory Board, Dr. Gabriele will receive an aggregate of 800,000 common shares in the capital of the Company, issuable in tranches, at a deemed issue price as is equal to the closing price of the Company’s common shares on the Canadian Securities Exchange on the day immediately preceding each issuance. The foregoing remains subject to the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
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 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 along with 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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Partnership with Base Pair Health announced

Psyence Group Announces Partnership With Base Pair Health and Strengthens Management Team

TORONTO, ON/ March 5, 2021 / Psyence Group Inc. (CSE: PSYG) (“Psyence” or the “Company”) is pleased to announce that it has entered into a Service Level Agreement with Singapore-based medical biology, forensic science and product development company Base Pair Global Pte. Ltd. trading as Base Pair Health (“BPH”). BPH develops advanced nutritional and health products for global clients, with a strong focus on organic and naturally occurring ingredients.

Psyence’s world-class medical and scientific team are focused on innovative research and clinical trials in order to develop class-leading psychedelic medicines for the treatment of psychological trauma and its mental health consequences. BPH provides advisory services for new health product design and implementation. BPH develops advanced nutritional products, ranging from supplements, minerals, herbal remedies, vitamins and specialty products, with a strong focus on organic ingredients.

BPH’s research and product development focus has recently targeted the efficacy of naturally derived psilocybin on gene sequence, and its use on dysfunctional neural networks, primarily psilocybin-assisted therapy as a treatment for psychiatric disorders related to anxiety and depression. “We are delighted to announce our collaboration with BPH who have an excellent track record in pharma and health product development,” says Jody Aufrichtig, Chief Executive Officer and Director of Psyence. “Psyence will be pioneering the use of natural psilocybin for the long-term treatment of trauma and its mental health consequences. In BPH we believe we have found the right partners to develop and fine-tune the medicinal formulations and therapies Psyence develops.”

The Company is also pleased to announce the appointments of Dr. Amza Ali and Mr. Kevin Coyne as executives of the Company. Dr. Ali, an existing member of the board of Psyence will move into a more material executive leadership position with the Company as Global Medical Director and BPH is supporting Mr. Coyne’s appointment as Global Commercial Director of Psyence.

Dr. Ali is a graduate of the University of the West Indies subsequently specializing in Internal Medicine. He then trained in Neurology at the National Hospital for Neurology and Neurosurgery, Queen Square, London and is specialty certified in Neurology by the Federation of Royal Colleges of Physicians of the United Kingdom and the Association of British Neurologists. Dr. Ali also completed a clinical fellowship in epilepsy at the Neurological Institute, Columbia University
in New York with certification by the American Board of Clinical Neurophysiology.

He is a fellow of the American College of Physicians, the Royal College of Physicians of London, the American Academy of Neurology and the American Epilepsy Society. He holds an executive MBA from the Rotman School of Management, University of Toronto. For his longstanding commitment to the advancement of epilepsy care, he was appointed a lifetime Global Ambassador for Epilepsy in 2019.

Mr. Coyne is the co-founder of Coyne Healthcare, a leading integrative medicine business based out of Cape Town, South Africa. Mr. Coyne has collaborated with world experts, developing nature-based healthcare products that have been scientifically validated and produced to the highest global standards. Mr. Coyne is also BPH’s lead psilocybin Product Development Advisor.

“Psychedelic therapies show great promise for the long-term treatment of mental health and trauma. We are confident we have found the best team to help us develop naturally derived medicinal products for psychedelic-assisted treatments,” concludes Aufrichtig. Mr. Coyne, and Research Director Mrs. Ashley Rhodes, shall provide the Company with services encompassing the role of business and commercial development, leading to the commercialization of the Company’s products. He will be reporting to the Chief Strategy Officer. Mr. Coyne will assist the Company on day-to-day product development and commercialization matters on behalf of BPH.

About Base Pair Health (BPH)

BPH’s focus is on a genes’ DNA sequence not being the sole factor in critical diseases, recognising the roles and effects environmental epigenetic factors, like diet and nutrition, can play on genes. Chemical compounds that are added to single genes can regulate their activity; these modifications are known as epigenetic changes. Epigenetic changes can help determine whether genes are turned on or off and can influence the production of proteins in certain cells, ensuring that only necessary proteins are produced. Epigenetic modifications vary among individuals, tissues and cells.

With the exponential growth of DNA research, through scientific breakthroughs and modernisation, there is now more access to remarkable information that is truly changing the way we view our health, and our ability to use epigenetics to further our lives. Research discoveries lead to better education, which leads to greater practical solutions to live more proactive lifestyles. This is all made easier with the right health and well-being supplement choices. Armed with this knowledge in hand, BPH researches, consults, and develops advanced nutritional epigenetic products, ranging from supplements, minerals, herbal remedies, vitamins and speciality products, with a strong focus on organic ingredients.

Website: www.basepairhealth.com

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

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.

Posted on

Functional mushroom brand, “GOODMIND”, launched

Psyence Group Launches It’s Functional Mushroom Brand, “GoodMind” And Makes Board Changes.

Toronto, Canada/, Cape Town March 4, 2021 – Psyence Group Inc., a leading platform in naturally derived psychedelic therapy and the development and commercialization of related technologies and products (“Psyence” or “the Company”), is pleased to announce it has launched its functional mushroom brand, “GOODMIND”, through a South African-based special purpose vehicle (“SPV”) called Goodmind (Pty) Ltd (“Goodmind”).

The SPV will be responsible for the production, commercialization and sale of GOODMIND functional mushroom products, which will include additional psilocybin containing products, subject to compliance with all applicable local laws and regulations in the jurisdictions in which the SPV operates. The primary aim of the SPV is to establish a revenue-generating business by executing on opportunities in the functional mushroom space.

The SPV is a 50/50 partnership between Psyence, via its subsidiary Psyence Biomed Corp, and Southern Sun Pharma Inc’s wholly owned subsidiary, The Goodleaf Company (Pty) Ltd, a private company incorporated in South Africa (“Goodleaf”). Goodleaf is the leading cannabis brand in South Africa with established distribution lines through retail stores, online, wholesale, and deli and coffee shops.

Goodleaf and Psyence have strong and established track records in the cannabis industry in Southern Africa. Goodleaf has demonstrated great competence in launching new consumer goods in a young industry. Psyence is experienced in procurement, manufacturing and logistics. Both companies intend to leverage their knowledge and experience in the functional mushroom space.

Jody Aufrichtig, Co-Founder, President, and CEO, Psyence Group Inc. says: “We are delighted to partner with the leading Cannabis brand in Africa, GoodLeaf, who have a proven track record of successfully launching and distributing high-quality retail and online products. GoodLeaf’s extensive distribution outlets will ensure that our functional mushroom products can quickly penetrate the growing market.”

Warren Schewits, CEO & Founder of Goodleaf added: “Our experience in developing and launching new consumer products will be invaluable as we make headway in the functional mushroom space. There is no doubt that there is a growing demand for wellness products and we are extremely excited to collaborate with Psyence as we launch GOODMIND and also bring a range of functional mushroom products to market.”

The Company is also pleased to announce the appointment of Alan Friedman to the Board of Directors. Alan Friedman is principal of Bayline Capital Partners, Psyence’s capital market advisor who has recently lead the Company through a successful listing onto the CSE. He has been associated with the North American public markets for two decades and has a depth of experience in representing, advising and assisting Canadian and global companies in acquiring assets, accessing capital, advising on mergers and acquisitions and navigating going public processes onto Canadian, US and UK stock exchanges with accompanying
equity capital raisings. During his Bay Street career, he has been involved with or facilitated financings in excess of hundreds of millions of dollars, creating billions of dollars in shareholder value.

Alan obtained a Bachelor of Commerce and post grad in Law at UNISA and is an admitted attorney of the High Court of South Africa. He also worked for Investec Bank a global banking group and is a board member of the Canada Africa Chamber of Business promoting trade relations between Africa and Canada.
The Company further announces that Ryan Roebuck has resigned from the Board effective immediately. Ryan helped facilitate the successful RTO of Psyence into Cardinal Capital Partners. The Company thanks Ryan for his contribution to Psyence’s predecessor Cardinal Capital and Psyence at its initial stages of going public.

About Goodleaf

A trusted and reliable source for quality CBD products online, Goodleaf is South Africa’s leading source for safe and tested cannabis and wellness products.

https://goodleaf.co.za/

About Psyence Group

The Psyence Group sets the global standard for natural psychedelics. The executive team have international experience in the business of science and medicine and include global experts in palliative care, 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.

About Goodleaf

A trusted and reliable source for quality CBD products online, Goodleaf is South Africa’s leading source for safe and tested cannabis and wellness products.

https://goodleaf.co.za/

About Psyence Group

The Psyence Group sets the global standard for natural psychedelics. The executive team have international experience in the business of science and medicine and include global experts in palliative care, 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
Website: www.psyence.com
Media Inquiries: media@psyence.com
General Information: info@psyence.com

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.

Posted on

MINDCURE Completes Its Initial Strategic Equity Investment in ATMA, Canada’s First Commercial Provider of Legal, Psychedelic-Assisted, Therapy Utilizing Psilocybin

The completed equity investment strengthens ties between MINDCURE and ATMA.

VANCOUVER, BC, Mar. 2, 2021 – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in developing technology to advance psychedelic-related treatments, is pleased to announce the completion of its initial strategic equity investment of equal to approximately 13% ownership in ATMA Journey Centers Inc. (“ATMA“) in accordance with the terms of the letter of intent (the “LOI“) announced on January 12, 2021.

MINDCURE’s initial strategic investment of $500,000 will strengthen our relationship with Calgary-based private healthcare company, ATMA, which has recently provided psychedelic-assisted therapy sessions using psilocybin for patients with section 56 exemptions.1 MINDCURE will leverage the growing partnership with ATMA to secure a network of clinics in which to deploy and test MINDCURE’s iSTRYM platform, and concurrently,  provide MINDCURE with access to patient data accelerating the growth of iSTRYM‘s database. This will lead to better diagnoses, treatments and personalized care.

“Our partnership with ATMA represents a huge step forward for healing today in Canada and around the world. By accelerating the development of our research and technology platform, iSTRYM, we’re closer to minimizing the gaps that exist in health care, all the way from research to the deployment of care. It’s an amazing opportunity to innovate with pioneers of the psychedelic therapy industry by creating proprietary research, identifying commonalities, and driving real transformative results for individuals using psychedelic medicines,” said Kelsey Ramsden, President & CEO, MINDCURE.

Access to ATMA’s patient data will contribute to MINDCURE’s proprietary technology, iSTRYM, ultimately helping to optimize treatment for ATMA’s patients and providing a rich data resource for MINDCURE, in accordance with the LOI.

“As the first commercial company in Canada to announce legally treating a palliative patient with psychedelic-assisted therapy using psilocybin, we’re optimistic about the progression to better care options for Canadians. By partnering with MINDCURE, we’re enforcing consistency in terms of protocols, as well as the ability to automate patterns in our patients’ conditions. Overall, this will lead to better patient care, and a stronger foundation for this innovative and leading-edge industry,” said Greg Habstritt, President of ATMA Journey Centers Inc. “Our mission is to deliver effective and innovative healing and transformative experiences that leverage the compelling science around psychedelics. We’re committed to providing the resources, safeguards, expertise, and accessibility into insights that our work uncovers, in order to advocate for better care and new treatment options.”

About ATMA Journey Centers Inc.

ATMA is a private healthcare company with the mission of delivering effective and innovative healing and transformative experiences that awaken the inner healer and promote a deeper connection with the self, with others, and with the beauty of the world. ATMA was the first private sector service provider in Canada to announce conducting legal psychedelic-assisted therapy for a palliative care patient under the approval of Health Canada’s section 56(1) exemption.

The Company has granted a total of 300,000 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 $0.63 per share and subject to the terms of the Plan.

About Mind Cure Health 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
1-888-593-8995

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: strengthening relationship between MINDCURE and ATMA; securing a network of ATMA clinics and access to ATMA’s patient data to fuel MINDCURE’s digital therapeutics platform, iSTRYM; MINDCURE accessing a network of clinics to deploy and test iSTRYM; ATMA conducting further psychedelic-assisted therapy; iSTRYM and the relationship with ATMA leading to better diagnoses, treatments and personalized care; ATMA’s patient data enriching iSTRYM‘s database; acceleration of the development of iSTRYM.

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; the partnership with ATMA will help MINDCURE achieve its business goals; ATMA will continue to grow and develop as a provider of clinical services; MINDCURE and ATMA will continue to expand their relationship and negotiate definitive agreements for data access and iSTRYM licensing; 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; MINDCURE’s partnership with ATMA may not help MINDCURE achieve its business goals; 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.

United States Advisory

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

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

SOURCE Mind Cure Health Inc.

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

1 “Exemptions,” The Government of Canada (Health Canada, November 13, 2020), https://www.canada.ca/en/health-canada/services/health-concerns/controlled-substances-precursor-chemicals/exemptions.html.

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Mydecine Innovations: Unlocking Fungi’s Pharmacological and Nutraceutical Healing Properties

Published at The Dales Report

‍

By Benjamin A. Smith

‍

Mydecine Innovations: Unlocking Fungi’s Pharmacological and Nutraceutical Healing Properties

In the world of early-stage psychedelic investing, leadership matters. With future revenue streams uncertain and developmental roadmaps being devised from scratch, innovation and management competency are high on the list of investor considerations. Enter Mydecine Innovations, whose A-to-Z psilocybin research model rivals or exceeds many larger market cap peers in the sector.

What Does Mydecine Do?

Above all else, Mydecine is an industry leader in the study of mycology, or the branch of biology concerned with the study of fungi—including its genetic and biochemical properties. Throughout history, mycology research has led to the development of important antibiotic drugs such as penicillin, streptomycin, and tetracycline, as well as cholesterol-lowering statin drugs. While it’s possible the company might back into a similar non-core discovery, the company is targeting different therapeutic areas altogether.

Mydecine is somewhat of a paradox in that it is both operationally diverse, yet has a very simple mission statement. Through its vertically-integrated operations, it aims to become a leader in the cultivation, processing, product development, and research and development of various strains of mushroom and fungi from all around the world; to unlock the full potential of fungi in both pharmacological and nutraceutical domains. Thus, Mydecine is in a unique position of being able to monetize an array of pharmaceutical and CPG pathways—specifically relating to mental health and wellness applications.

On the clinical side, Mydecine is best known for its upcoming international Phase 2A study that will focus on psilocybin-assisted psychotherapy to treat chronic PTSD in veterans and EMS personnel. The research will take place at various clinical sites across three continents in an effort to establish the safety and efficacy of psychedelic administered psychotherapy in a supervised setting.

Although Mydecine’s trial is objectively behind Compass Pathways’ Phase 2b psilocybin-assisted therapy study for treatment-resistant depression, it is perhaps the most comparable psilocybin assisted-therapy based study among Compass’ competitors trading on the public markets. The companies are targeting different indications, however, depression and its many subsets share intertwining affinities.

Mydecine is also sponsoring an important study to determine whether microdosing leads to changes in novelty perception or pattern recognition. The study titled: “Neurocognitive Effects of Low Dose Psychoactive Substances” will take place at Australia’s Macquarie University and will helping to build a database library to help the company understand microdosing works. Such understanding will help build a foundation for future intellectual property development and clinical trial design.

Scientific Advisory Board member Dr. David Erritzoe has previously helped execute a large-scale microdosing study co-sponsored by the National Institute for Health Research at Imperial College of London.

Mydecine Research & Development/IP

Mydecine has the ability to oversee all areas of drug development—from the production of Psilocybe mushrooms to its synthesis to product commercialization and distribution. Central to this vertically-integrated strategy is the company’s seven patent pending applications representing multiple layers of protection on its drug development pipeline and technology assets.

By developing a greater understanding of the therapeutic properties of fungi-based compounds, Mydecine is creating novel intellectual property around specialized mental wellness solutions. Spearheaded by Chief Scientific Officer Rob Roscow, its patent portfolio is designed to unlock innovative medication design and distribution pathways, accurate dosable formulations and emerging developments for increased use of psilocybin in a medical setting.

Central to this strategy is Mydecine’s industry-leading psychedelics telemedicine platform, which is an instrumental part of its assisted-therapy support system.

The company recently announced that it has filed a provisional patent for its Mindleap Health technology platform in both The United States Patent and Trademark Office (USPTO) and the Canadian Intellectual Property Office. The app combines mood, emotion and habit tracking allowing users to purchase and receive virtual mental health coaching from an international network of specialists.

Can Psychedelic-Focused Telemedicine Apps Take A Bite From The Apple?

With the global telemedicine market worth an estimated USD 41.4 billion (2019) and expected to grow at a CAGR of 15.1% until 2027, Mydecine is seeking to protect this first-mover application. With web/mobile based delivery model expected to witness significant growth in the coming years, the Mindleap app offers direct access-to-care delivery solutions. It’s perhaps an underappreciated asset which should provide supplementary value along Mydecine’s assisted-therapy delivery chain.

On the research & development side, 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. The Mydecine Center of Mycology (MYCOM) features a 7500 sq. ft mycology lab, full-scale commercial fungi cultivation capabilities, mass spectrometer equipment… the works. It is here that Mydecine will attempt to unlock the science behind the mushroom, and parlay its research into new intellectual property, psilocybin and nutraceutical formulations. Longer term, the company has devised a planned expansion to research psilocybin under DEA licensure as regulations allow.

In Canada, Mydecine has established an R&D partnership with Applied Pharmaceutical Innovation (API) through the Alberta Faculty Of Pharmacy And Pharmaceutical Sciences out of the University of Alberta. The relationship provides Mydecine with many tangible benefits, including:

  • Access to a full cGMP certified pharmaceutical manufacturing facility
  • Ability to import/export, extract, and analyze psychedelic medicine with full government approval through Health Canada Schedule 1 Substances and Drugs Dealer’s License
  • Access to a wide range of world-class scientific researchers
  • Artificial intelligence capabilities to identify biosynthesis pathways for medicine discovery, optimize targeted medicine delivery systems and to design marketable medicinal compounds

Whether through organic developmental research or through collaborations at major universities, Mydecine is committed like no other when it comes to understanding fungi in pharmacological and nutraceutical contexts. The bet for investors is that its heavy R&D emphasis will eventually translate into mental wellness therapies and applications that can be monetized in many diverse ways.

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Psychedelic Special Task Force – Report on Psychedelics

Numinus and MAPS reach trial milestone

In a first-of-its-kind trial in Canada, Numinus Wellness (CSE: NUMI) has partnered with MAPS Public Benefit Corporation to collaborate for research on MDMA-assisted therapy. The “single-arm, open-label, compassionate access 1” trial has met several key milestones to enter a pre-implementation stage.

Aiming to expand access and treatment options to patients with PTSD, these significant developments will help gain better understanding of psychedelic-assisted psychotherapies as viable, safe, and necessary.

Who’s who?

  • Eight Numinus therapists working on this trial graduated in November 2020 from Part B of the MAPS-standardized MDMA therapist training program.
  • Dr. Devon Christie, Medical & Therapeutic Services Director at Numinus, was trained in this program and will serve as both the trial’s Principal Investigator and as a therapist.
  • MAPS Public Benefit Corporation, a subsidiary of MAPS, was formed to develop healing and well-being through psychedelic drug development, therapist training programs, and sales of prescription psychedelics.

Neither the FDA or Health Canada have approved this therapy just yet. The safety and efficacy of MDMA-assisted psychotherapy are still under investigation.

NYU Langone and MindMed launch psychedelic center

Operating with an endorsement by NYU Langone’s Department of Psychiatry, the one-of-a-kind health center continues to advance progress in psychedelic medicine through their Psychedelic Medicine Research Training Program.

The program will support development of early-career faculty members and post-doctoral fellows to become independent investigators in the field of psychedelic medicine. Treatment models & training programs developed at the center will scale psychedelic medicines into mainstream adoption by psychiatrists & therapists in America.

They have a lot going on.

Research at the center has and still focuses on the treatment of advanced cancer-related psychiatric and existential distress, addiction, major depression and PTSD.

  • Phase II clinical trial nearing completion to examine the use of psilocybin in treating alcohol use disorder, and developing a Phase II/III trial.
  • Phase II study from 2016 is now in Phase III development, with a funding proposal under review with the National Cancer Institute.
  • Recruitment underway for Phase II study to evaluate the efficacy of psilocybin in the context of “set and setting” therapy for individuals with major depressive disorder.
  • Recently completed a Phase III study on the safety and efficacy of psychotherapy utilizing MDMA for treatment of severe PTSD, and began recruitment for a second Phase III study.
  • Other studies are examining the use of psychedelics for disorders including chronic pain, end-of-life psychotherapy, opioid & tobacco addiction, and more.

Philanthropic efforts have kept the momentum going.

Major philanthropic support from donors have enabled medical breakthroughs and totaled over $10 million in support for studies at NYU Langone.

  • MindMed (OTCM: MMEDF) leads the way with $5 million contribution.
  • Scientist & philanthropist Carey Turnbull: $1 million
  • Private investor Alan Fournier: $2 million
  • President of the Usona Institute, Bill Linton: $1 million
  • Other significant donors include the George Sarlo Foundation, Cody Swift of the Riverstyx Foundation and Dr. Bronner’s Soaps.

Massachusetts is looking to decriminalize all drugs

It’s clear that current drug enforcement regulations are creating an unjust number of arrests and prosecutions in fragile communities. That’s why lawmakers introduced legislation in Massachusetts aiming to end the state’s war on drugs, which has disproportionately targeted racial minorities.

The statewide bill HD.3439 was introduced on Friday to challenge current criminal penalties for the possession of controlled substances in Section 34. These efforts come alongside bills SD.2248 and HD.3829 that aim to solve racial injustice and evaluate the impact of these new regulations.

What are they trying to pass?

  • Remove criminal penalties for possession of all drugs.
  • Legalize and regulate psychedelic substances, including possession, consumption, transportation, and sale of entheogenic plants and fungi.
  • Establish a 21-person task force to conduct studies on entheogenics.
  • Civil fine of up to $50, or submitting to screening for health and economic evaluation in order to provide services to the individual rather than an economic punishment.
  • Completion of this screening won’t be deemed as an admission of criminal charges.
  • Failure to pay the fine won’t incur penalties or incarceration.

What’s up with this “task force”?

  • They will develop recommendations:
    • On how to legalize psychedelic substances “in a manner that maximizes equitable access and sustainable manufacture of these plants.”
    • Regarding “pardons, parole, diversion, expungement, and equity measures” for people with prior criminal records due to possession, or distribution of these substances.

These recommendations will be used to draft legislation to be put into effect no later than June 2022.

UC San Diego researchers are exploring psychedelics to treat phantom limb pain

Imagine losing a limb yet still experiencing chronic pain out of thin air. The phenomena, known as ‘phantom limb’ is a commonly debilitating sensation that a limb is still physically there, because the brain interprets it as such.

The result is lingering pain with no effective solution for up to 80% of the world’s 40 million amputees (according to WHO).

Study Details

Timothy Furnish, MD, clinical professor of anesthesiology at UC San Diego School of Medicine had this to say:

  • The clinical trial will enroll 30 amputees suffering from phantom pain to receive 25 milligrams of psilocybin; another 30 will receive a placebo (niacin).

The trial will assess pain and psychological functioning, including magnetic resonance imaging.

Awakn announces AUD study results

The world’s first MDMA clinical trial addressing alcohol use disorder (AUD) has now provided definitive, promising results. The outcome of the study conducted by Awakn Life Sciences: all patients tolerated the treatment well, and with no adverse reactions. Further trials will now ensue.

  • Dr. Ben Sessa, Chief Medical Officer at Awakn, conducted the Bristol Imperial MDMA in Alcoholism (BIMA) trial.
  • The study evaluated patients’ drinking behavior, quality of life and psycho-social functioning.
  • Phase IIb study in the UK will now proceed. It will be a double-blind, placebo-controlled clinical trial to further investigate safety and efficacy of MDMA.

This is a really big deal.

  • The first clinical research study using MDMA-assisted psychotherapy to treat any addiction, and it was totally successful! Improvements by all measures were clinically observed.
  • Currently available treatments are greatly ineffective, with a high rate of relapse.
  • Alcohol abuse is the most prevalent substance disorder in the world, and one of the top 5 causes of disease and disability in Europe.
  • In the UK, alcohol is the leading cause of diseases for over 20% of the adult population.
  • It’s expected that the COVID-19 pandemic will make matters worse.

Report Readout

Frontier Acquisition Corp, a special purpose acquisition company (SPAC) sponsored by German investor Christian Angermayer, a major backer of COMPASS, will launch biotech SPAC in the U.S.

Mindset landed an international contract to develop and manufacture synthetic psilocybin.

Mind Cure adds global technology leader Robert C. Hill to Board of Directors.

Edmonton psychiatry professor founding new company by studying psychedelic effects on mental health.

Columbia professor turns heads with bold statements on his recreational use of drugs.

Psychedelic drug therapy now offered at Calgary clinic to treat depression, anxiety, PTSD.

Universal Ibogaine Inc. announces appointment of Dr. Rami Batal as Chief Executive Officer.

PharmaTher to collaborate with Terasaki Institute for Novel Microneedle Delivery of Psychedelic Pharmaceuticals.

Therapists could be influencing mystic, spiritual experiences and meaning while patients are on psychedelics.

Entheon Biomedical and Science in Action received ethics approval for in vivo non-GLP toxicology study of DMT.

Hawaii bill dies in session, opposed by the state Department of Health as well as county police departments.

Field Trip Health secures $50 million offering of common shares with Bloom Burton Securities Inc.

DEA gives green light for Psilera’s mission to study new DMT and psilocybin treatments for central nervous system disorders.

Optimi Health Corp goes public, completing a $20.7 million IPO.

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Novamind Reports Company Highlights and Strong Revenue Growth in Fiscal Second Quarter

Clinics see continued surge in demand for mental health services

TORONTO, ON / ACCESSWIRE / March 1, 2021 / Novamind Inc., (CSE: NM | OTC PINK: NVMDF) (“Novamind” or “the Company”), a leading mental health company specialized in psychedelic medicine, today reported its fiscal second quarter results for the three months ended December 31, 2020 (“Fiscal Q2 2021”). The Company’s fiscal year-end is June 30th. All results are reported under International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise specified.

Fiscal Q2 2021 Highlights and Subsequent Developments

Financing and Public Listing

Novamind successfully closed an oversubscribed $10,000,000 financing on November 23rd, 2020. The funds were made available to the Company upon the completion of its reverse takeover (“RTO”) transaction and conditional listing approval from the Canadian Securities Exchange (“CSE”). The company ended the quarter with a cash balance of $10,868,742. With its strong cash position, Novamind is well-positioned to execute on its growth strategy to expand its network of mental health clinics, retreats and clinical research sites.

On January 5th, 2021, Novamind began trading on the CSE under the stock symbol “NM”. Less than two months after going public on the CSE, Novamind achieved the milestone of being included in the underlying index of the Horizons Psychedelic Stock Index ETF (NEO: PSYK) through a “Fast Entry” category, further increasing its profile with retail and institutional investors in the psychedelic medicine sector.

The Company announced on February 19th, 2021, that its common shares commenced trading under the symbol “NVMDF” on the OTC Market. In the near future, Novamind intends to apply to list its common shares on the OTCQB Market, an established marketplace in the United States for promising, innovative companies.

Operational Highlights

On January 28th, 2021, Novamind announced that it had reached two significant milestones at its Cedar Psychiatry mental health clinics: administering over 5,000 ketamine treatments since its opening in 2016, and administering over 2,000 Spravato™ treatments since the product became available in 2019. These milestones position Novamind as one of North America’s top providers of ketamine-assisted psychotherapy and Spravato™.

On January 13th, 2021, the Company announced the expansion and optimization of its Layton, Utah clinic. The redesigned Layton Clinic now offers improved treatment rooms to accommodate a higher number of ketamine and Spravato™ treatments. The Layton Clinic expansion comes in response to a significant increase in demand for ketamine therapies across Novamind’s mental health clinics. In 2020 alone, the Cedar Psychiatry clinic network facilitated over 20,000 client visits, an increase of over 100 percent compared to the same period in 2019.

On January 19th, 2021, Novamind announced the expansion of its leadership team with the appointment of Pierre Bou-Mansour, P.Eng., to the role of Chief Operating Officer. Mr. Bou-Mansour assumes the responsibility for ensuring operational excellence as Novamind develops its network of clinics, retreats, and research sites. An accomplished senior executive and leader, he brings a wealth of experience managing large and complex healthcare organizations. Prior to joining Novamind, Pierre served as the Chief Operating Officer of LifeLabs, a diagnostic laboratory services company he helped to scale into an industry leader with 5,700 employees and 370 patient access sites in Canada. Most recently, he served as the Chief Laboratory Operations Officer of Public Health Ontario, serving Canada’s largest province with over 14 million residents. In this role, Bou-Mansour successfully led the expansion of Public Health Ontario’s testing capacity for the COVID-19 response.

Strategic Investment in Bionomics

On February 11th, 2021, the Company announced that it had made a strategic investment of AU$827,486 (approximately CAN$810,000), in Bionomics Limited (“Bionomics”) (ASX: BNO, OTCQB: BNOEF, Germany: AU000000BNO5), a biopharmaceutical company dedicated to developing better treatments for central nervous system disorders. In addition, Cedar Clinical Research, a wholly owned subsidiary of Novamind, will be evaluated by Bionomics as a clinical research site to conduct Bionomics’ phase IIb clinical trial examining BNC210, a drug that has received Fast Track Designation from the U.S. Food and Drug Administration for the treatment of post-traumatic stress disorder (PTSD).

Impact of COVID-19

Novamind has not been significantly affected by the COVID-19 pandemic. As reported across multiple media outlets, the COVID-19 pandemic has resulted in a significant increase in the incidence of mental health problems, in particular anxiety and depression, conditions that are commonly treated by Novamind. The Company’s Cedar Psychiatry network of clinics continues to experience steady demand for mental health services, and this demand is anticipated to continue despite COVID-related restrictions.

Financial Highlights and Selected Consolidated Financial Information

In Fiscal Q2 2021, Novamind reported revenue of $1,288,828 primarily composed of patient services revenue from its network of four Cedar Psychiatry outpatient mental health clinics in Utah. This represents a 47 percent increase over the previous quarter ended September 30th, 2020.

The Company reported a net loss of $3,567,883 for the three months ended December 31st, 2020, as compared to a net loss of $493,614 for the prior quarter ended September 30th, 2020. The net loss for the second fiscal quarter was primarily due to expenses related to the Company’s listing on the CSE, and funding of capacity expansion at its Cedar Psychiatry clinics. This includes consulting expenses of $416,268, professional fees of $450,419, salaries and wages of $791,078, office and general expenses of $87,368, advertising and promotion expenses of $236,650, and stock-based compensation of $664,814. Additionally, there was $1,379,144 in RTO transaction costs in the quarter.

The following table presents selected financial information from the Company’s unaudited condensed interim financial statements for the three and six months ended December 31st, 2020, and periods ended December 31st, 2019. The following information should be read in conjunction with the financial statements and management’s discussion and analysis, which are available under the Company’s SEDAR profile at www.sedar.com.

Q2 chart

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that 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 Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

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Core One Labs Initiates First Strain Production for Biosynthetic Psilocybin

Vancouver, British Columbia, Canada – February 26, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or “Core One”) a biotechnology research and development life sciences enterprise focused on advancing psychedelic medicines to market, is pleased to announce readiness to begin initial biosynthetic psilocybin production trials.

The Company’s wholly owned subsidiary, Vocan Biotechnologies Inc. of Victoria, British Columbia, has successfully completed the development of its psilocybin detection and quantification methodology. This significant achievement allows the Company to commence production trials with its first psilocybin producer strain.

The use of high-pressure liquid chromatography (HPLC) will allow the team to precisely determine the level of activity achievable with its proprietary DNA sequence in the producer strain. This proven method very quickly quantifies the amount of biosynthetic psilocybin generated during the fermentation process.

As the Company progresses with its technology development, this analytical technique will enable the team to identify effective strategies to control and optimize psilocybin production suitable for use in future scale-up.

Joel Shacker, CEO of Core One  notes, “With the recent acquisition of equipment and precursor materials in place, our team has moved faster than anticipated to advance our proprietary producer strain. The work already underway demonstrates a viable and efficient pathway to scalable production, positioning Core One  at the production forefront of the sector in Canada.”

Core One’s ability to demonstrate cost effective manufacturing of high-quality compounds is aimed at generating interest throughout the national research sector. Initial cost projections are predicted to offer API-grade psilocybin at savings of thousands of dollars per gram. The biosynthetic approach to psilocybin production allows for both IP protection and rapid value generation through the applied use of proven scientific methodologies as a platform for rapid and scalable production.

About Core One Labs Inc.

Core One Labs 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 Labs 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 Labs also holds an interest in medical clinics which maintain a combined database of over 200,000 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 Labs 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 Labs 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 Labs does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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Delic To Acquire Complex Biotech Discovery Ventures LTD

VANCOUVER,BC, Feb. 25, 2021 /CNW/ – Delic Holdings Inc. (“DELIC” or the “Company“) (CSE: DELC) (OTCQB: DELCF), a psychedelic wellness-focused company, is pleased to announce it has executed a definitive share purchase agreement (the “Agreement“) to acquire all of the issued and outstanding shares in the capital of Complex Biotech Discovery Ventures (“CBDV“), a licensed psilocybin and cannabis research laboratory focused on extraction, analytical testing, and chemical process development (the “Transaction“). Founded by award-winning chemist, Dr. Markus Roggen, and UBC Professor, Glenn Sammis, CBDV supports the psychedelic industry with high precision chemical analytics and metabolomic identification. Following the Transaction, CBDV expects to change its name to “DELIC Labs”.

Transaction Highlights

  • The acquisition of CBDV will further establish DELIC as a diversified psychedelics organization: The addition of CBDV will allow DELIC to add scientific-based research and analytics to its product offerings. CBDV recently received its Section 56 Exemption granted by Health Canada, enabling CBDV to focus on research and intellectual property development with psilocybin.
  • Building an Intellectual Property (“IP”) portfolio: CBDV plans to use its analytical tools for psychedelic mushroom compounds that advance clinical ‎and end-user testing. Development of psilocybin analogs that could be used in future medical ‎treatments.
  • Enhanced exposure of CBDV to drive growth: DELIC expects to drive customers to CBDV through its media platform, allowing CBDV to expand its current customer base and potential product offerings.
  • History of profitability: CBDV has a history of profitability, with a focus on extraction optimization, analytical testing, and chemical process development to advance the cannabis and psilocybin industry. Current and past customers are well-established global enterprises who require the cutting-edge cannabis and soon, psilocybin research, which CBDV provides services to.
  • Management expertise. Dr. Roggen, who will remain as an employee of CBDV following closing of the Transaction, brings a wealth of knowledge and industry experience to DELIC, in a critically important and evolving space.

Matt Stang, Founder and CEO of DELIC, commented, “Joining forces with CBDV is a foundational transaction for DELIC. Science and research is the backbone of the psychedelic renaissance and adding the talent, know-how and expertise of CBDV will bear fruit both now and in the years to come. The fact that the company has a world-class team, history of profitability, more than 50 blue chip clients, and is on track for significant growth, makes this a compelling acquisition for DELIC and one that makes it a pillar of the Company. Going forward, with the discussions we currently have in place with the many entrepreneurs worldwide within the DELIC ecosystem, we see an opportunity to potentially commercialize this science in the near term.”

CBDV is one of a handful of licensed research psilocybin labs in Canada and has an aggressive plan to build out a suite of novel compounds and delivery methods for the industry. The company is also a leading cannabis analytical and research company boasting clients that include some of the largest brands in the world. CBDV intends to apply for its dealer’s license, to eventually commercialize its psilocybin research and associated IP.

Dr. Roggen, CEO of CBDV, stated “This is a very exciting moment for us at CBDV. Partnering with DELIC was an easy choice. The combination will allow us to use their platform to share our findings with the psychedelic and medical community while also gaining new clients on the cannabis front. It’s a great opportunity to work in tandem with the DELIC team to help these new age treatments become accessible for all.”

Matt Stang continues, “The DELIC ecosystem will benefit greatly from the IP that will come out of CBDV. As new jurisdictions start to decriminalize and legalize psilocybin, we feel we will have the IP that everyone will want. On top of that, our roots in cannabis are deep and we feel we can direct significant revenue in our network towards CBDV’s cannabis business.”

Transaction Summary

Under the terms of the Agreement, DELIC will acquire all of the issued and outstanding shares in the capital of CBDV. The purchase price will be satisfied through the issuance of subordinate voting shares in the capital of DELIC (the “Consideration Shares“) equal in value to CAD $7,000,000 (the “Purchase Price“), to be issued at a price per share equal to the higher of: (a) the ten (10) trading day volume weighted average trading price (“VWAP“) of the Consideration Shares on the Canadian Securities Exchange (or such other recognized stock exchange upon which the Consideration Shares are listed for trading) (the “Exchange“) in the ten (10) trading days immediately prior to the date of the Agreement, and (b) the maximum discount under the policies of the Exchange applicable to the closing price of the Consideration Shares on the Exchange on the trading day immediately prior to the closing date. The Consideration Shares issued to the sellers of CBDV will be subject to certain contractual hold periods. In addition, each of the sellers of CBDV will enter into voting support agreements with a two-year term, pursuant to which they will agree to vote their Consideration Shares as directed by the board of directors of DELIC, subject to certain customary exclusions.

In addition, pursuant to the Agreement, for so long as Dr. Roggen holds not less than 10% of the shares in DELIC, and at least for the first two years following closing of the Transaction, DELIC agrees to appoint one nominee of Dr. Roggen to the board of directors of DELIC. In the ‎event Dr. Roggen ceases to have nomination rights pursuant to the foregoing, Dr. Roggen shall use ‎commercially reasonable efforts to cause his nominee to resign immediately. ‎

Dr. Roggen has agreed to execute an employment agreement with DELIC upon closing of the Transaction. In addition, Dr. Roggen and DELIC will enter into an earn-out agreement on closing (the “Earn Out Agreement“). Pursuant to the Earn Out Agreement, Dr. Roggen will be eligible to earn additional consideration for completing the Transaction of up to CAD$3,000,000, to be paid in Consideration Shares, subject to achievement of certain milestones. The milestone payments are as follows and will be based on the ten (10) trading day VWAP of the ‎Consideration Shares on the ‎Exchange in the ten (10) trading days prior to the ‎date the respective milestone.

The closing of the Transaction is subject to customary closing conditions, including necessary third-party consents and approvals, including approval of the Exchange, if required.

About DELIC
DELIC Always Expanding. In All Ways.

DELIC was formed in 2019 to address the growing interest in psychedelic wellness backed by science. DELIC was the ‎first psychedelic umbrella platform and is currently a trusted source for those interested in ‎psychedelic culture, psychedelic clinics, and more. ‎DELIC’s offerings include “Reality Sandwich”, a free public education platform providing psychedelic guides, news and ‎culture, “Meet Delic”, the first ever psychedelic wellness summit, and “The Delic”, an e-commerce lifestyle brand. ‎For more information, check out www.deliccorp.com.

The Canadian Securities Exchange ‎has neither approved nor disapproved the contents of this news release and does not accept responsibility ‎for the adequacy or accuracy of this release.‎

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable ‎Canadian securities ‎legislation and may also contain statements that may constitute “forward-looking ‎statements” within the meaning of ‎the safe harbor provisions of the United States Private Securities ‎Litigation Reform Act of 1995. Such forward-looking ‎information and forward-looking statements are not ‎representative of historical facts or information or current ‎condition, but instead represent only the ‎Company’s beliefs regarding future events, plans or objectives, many of ‎which, by their nature, are ‎inherently uncertain and outside of DELIC’s control. Generally, such forward-looking ‎information or ‎forward-looking statements can be identified by the use of forward-looking terminology such as ‎‎”plans”, ‎‎”expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, ‎‎‎”anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may ‎contain ‎statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be ‎taken”, “will continue”, ‎‎”will occur” or “will be achieved”. The forward-looking information and forward-‎looking statements contained herein ‎may include, but are not limited to, closing of the Transaction, the growth and business of CBDV, potential earn out payments, anticipated continued growth in the health and wellness sector (and, in particular, related to psychedelics), the continued emergence of psychedelics from stigmas, the ability of the Company to maintain sensible messaging, the ability of the Company to avoid dogmatic practices and binary rhetoric‎, the ability of DELIC to successfully achieve business ‎objectives, ‎and expectations ‎for other economic, ‎business, and/or competitive factors.‎

By identifying such information and statements in this manner, DELIC is alerting the reader that ‎such ‎information and statements are subject to known and unknown risks, uncertainties and other factors ‎that may cause ‎the actual results, level of activity, performance or achievements of DELIC to be ‎materially different from those ‎expressed or implied by such information and statements. In addition, in ‎connection with the forward-looking ‎information and forward-looking statements contained in this press ‎release, DELIC has made certain ‎assumptions. Among the key factors that could cause actual ‎results to differ materially from those projected in the ‎forward-looking information and statements are the ‎following:‎ the ability to consummate the Transaction; the ability to satisfy the conditions to closing of the Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the acquisition on ‎relationships, ‎including with regulatory bodies, employees, suppliers, customers and competitors; ‎changes in general economic, ‎business and political conditions, including changes in the financial ‎markets; changes in applicable laws; compliance ‎with extensive government regulation; and the diversion of management time on the Transaction.

Should one or more of these risks, uncertainties or other factors materialize, or should assumptions ‎underlying the ‎forward-looking information or statements prove incorrect, actual results may vary ‎materially from those described ‎herein as intended, planned, anticipated, believed, estimated or ‎expected.‎

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

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Mindset Pharma Reaches Agreement to Manufacture Large Quantity of Pharmaceutical Grade Psilocybin Using Patent-Pending Synthesis Process

Toronto, Ontario–(Newsfile Corp. – February 22, 2021) – Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (“Mindset” or the “Company“), a drug discovery and development company focused on developing next generation psilocybin-inspired medicines and related technologies, is pleased to announce that it has engaged a leading international contract development and manufacturing organization (“CDMO“) to synthesize a 1.0 kg batch of cGMP (i.e. pharmaceutical grade) psilocybin utilizing Mindset’s innovative and cost-effective patent-pending synthesis process. The large scale cGMP synthesis batch is expected to be released in the fall of 2021.

Mindset anticipates that there will be significant demand for its proprietary, high-quality psilocybin supply given the increasing number of trials and studies underway utilizing psilocybin. High-quality psilocybin for clinical research purposes is currently expensive and difficult to procure, however Mindset’s cost-effective patent-pending synthesis process provides Mindset with a unique advantage to accelerate the commercialization of its portfolio of intellectual property. Several CDMOs that specialize in psilocybin synthesis have exclusive relationships with individual clients, further narrowing the range of psilocybin supply options. Additionally, Mindset is not aware of any existing psilocybin suppliers that have synthesized a commercial quantity at a scale exceeding 1.0kg.

James Lanthier, Chief Executive Officer of Mindset, commented, “We believe that Mindset’s proprietary synthesis process can benefit the entire medical psychedelic market, from the drug design process stage to clinical treatment as it is scalable, efficient, and, to our knowledge, one of the most cost-effective methods available in the marketplace today for GMP grade psilocybin, with a non-optimized cost per gram substantially below current retail costs.

“Mindset’s synthesis process strategically complements our next generation drug development programs and represents a significant potential market opportunity. Mindset’s novel synthesis process meets an increasing need from the growing medical psychedelic space for a reliable source of affordable, pharmaceutical grade psilocybin. We anticipate even further refinements to our process that will enable us to significantly improve cost and efficiency.”

Joseph Araujo, Chief Scientific Officer, Founder and Director, commented, “The excitement and enthusiasm demonstrated by this world class CDMO has given us further confidence that this process is potentially game-changing for the industry and should enhance access to psychedelic-assisted treatments for people with the greatest needs. We already have had multiple supply enquiries, as has the CDMO, and we are confident that demand for our synthetic psilocybin will be robust.”

MINDSET PROGRAM UPDATE CALL

The Company will be hosting a conference call and webcast on Monday, February 22, 2021 at 2:00 p.m. EST with James Lanthier, Chief Executive Officer and Joseph Araujo, Chief Science Officer to discuss updates on the Company’s scientific programs.

Investors can access the live conference call and webcast by clicking on the event link http://services.choruscall.ca/links/mindsetpharma20210222.html or can dial in using the numbers below.

PARTICIPANT TELEPHONE NUMBERS

Canada/USA TF: 1-800-319-4610
International Toll: +1-604-638-5340
Germany TF: 0800-180-1954

Callers should dial in 5 – 10 minutes prior to the scheduled start time and simply ask to join your call.

FOR MORE INFORMATION, PLEASE CONTACT:

James Lanthier
Chief Executive Officer
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 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 along with 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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