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Research and Development Moves the Psychedelics Market Forward

Published at PRnewswire.com

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NEW YORK, Jan. 27, 2021 /PRNewswire/ — The ongoing surge of development and investment into psychedelic medicine and psychedelic-assisted therapy is the direct result of newfound public support and legitimacy for these revolutionary treatments. That legitimacy is being built on the back of a growing body of research showing the benefits of these treatments and the intense need for alternatives to legacy approaches to mental healthcare. The flood of research is continuing, most recently with an ongoing study on psychosubstances as a potential treatment for veterans with PTSD. As more data supports the legitimacy of these treatments, companies that are commercializing psychedelic medicines, like Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF), Numinus Wellness Inc. (NEO: NUMI) (TSXV: NUMI) (OTCPK: LKYSF), Tonix Pharmaceuticals (NASDAQ: TNXP), Hollister Biosciences Inc. (OTCPK: HSTRF), and Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF), are seeing increasing momentum.

Mydecine Innovations Group Moves the Psychedelics Space Forward

Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF) has been both a driver and a beneficiary of psychedelic medicine’s many recent breakthroughs. As a leading company in the psychedelic biotech and life sciences space, Mydecine has had a large role on the research and development as well as the commercialization front.

Through the company’s clinical trial branch, headed by Mydecine’s Chief Medical Officer, Dr. Rakesh Jetly, the company has been working to develop safe and effective pharmaceutical and natural health products for people affected by PTSD. Last year, Mydecine partnered with the Leiden University Medical Center of The Netherlands and the ARQ National Psychotrauma Centre for a first-of-its-kind series of clinical trials examining psilocybin for the treatment of PTSD. Since that point, Mydecine has expanded its Phase 2A clinical trial globally to incorporate sites including University of Alberta, Royal Ottawa Hospital, and Western Ontario.  Mydecine has also signed on for a partnership agreement with Applied Pharmaceutical Innovation to advance its research and development efforts for mental health care solutions.

Mydecine is a leader in developing the business side of psychedelic medicine. On January 21, Mydecine announced that the company would be included as part of the first-ever psychedelics-focused Exchanged Traded Fund (ETF). The fund includes 17 pioneering companies in the US and Canada and began trading on Tuesday, January 26 under the ticker PSYK on the NEO exchange.

“While medicinal psychedelics are certainly not new, the legal market and the ability to invest in these cutting-edge companies certainly is new,” Mydecine Co-Founder & CEO Joshua Bartch said in the company’s release. “Together, with these 17 companies, Mydecine is helping to build an industry that is investing in and researching innovative solutions for treating previously untreatable mental illness.”

Also in January, Mydecine Innovations Group announced that it has filed an application to list on the NASDAQ. This potential uplisting to the NASDAQ will expose Mydecine to an increased number of retail and institutional investors.

Pharmaceutical and Biotechnology Companies Work to Advance Psychedelic Therapeutics

Psychedelic-focused health solutions company Numinus Wellness Inc. (NEO: NUMI) (TSXV: NUMI) (OTC: LKYSF) announced in January that the company has acquired an Orbitrap Exploris 120 Mass Spectrometer for use in the continued development of psilocybe mushroom related projects. Numinus says that this state-of-the-art instrument will accelerate the company’s psychedelic standardized testing, as well as its research and development.

Clinical-stage biopharmaceutical company Tonix Pharmaceuticals (NASDAQ: TNXP) is focused on discovering, licensing, acquiring, and developing small molecules and biologics to treat a wide range of conditions, including pain, neurologic, psychiatric, and addiction conditions. In 2020, Tonix outlined a new statistical method to analyze future PTSD drug studies. With so much of the research on psychedelic-assisted psychotherapy focusing on treatment of PTSD, Tonix Pharmaceuticals’ statistical method could play a significant role.

Hollister Biosciences Inc. (OTC: HSTRF) announced last year that the company planned to acquire psychedelic-focused company Alphamind Brands. Alphamind has been developing several psilocybin-based products in addition to conducting research and development for psilocybin pharmaceutical applications.

Mind Medicine (MindMed) Inc. (NEO: MMED) (OTCQB: MMEDF) announced in November that the company would be establishing a digital medicine division that will bring together a team of leading technologists, therapists, and clinical drug development experts to help the company with research and development of an integrated technical platform and comprehensive toolset for developing psychedelic medicines and experiential therapies combined with digital therapeutics.

Psychedelic medicines and therapies have the potential to not just be a huge market, but also a revolution in mental health care. Companies like Mydecine Innovations Group are making this revolution happen through research and development.

For more information on Mydecine Innovations Group, click here.

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Mind Cure Health Inc. Announces an Increase to Previously Announced Bought Deal Public Offering

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, BC, Jan. 22, 2021 /CNW/ – Mind Cure Health Inc. (“Mind Cure” or the “Company”) (CSE: MCUR), a mental health and wellness company with a mission to identify and develop products that ease suffering, increase productivity, and enhance mental health, is pleased to announce that it has entered into an amended agreement with a syndicate of underwriters led by Canaccord Genuity Corp. to increase the size of the previously announced bought deal financing. Pursuant to the amended terms, the Underwriters have agreed to purchase, on a bought deal basis, an aggregate of 33,334,000 units (the “Units”) of the Company at a price of C$0.60 per Unit (the “Offering Price”) for aggregate gross proceeds to the Company of approximately C$20 million (the “Offering”).

Each Unit shall consist of one common share (each a “Common Share”) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Warrant”). Each Warrant shall be exercisable to acquire one common share of the Company for a period of 60 months from closing of the transaction at an exercise price of C$0.80 per Warrant, subject to acceleration and adjustment in certain events.

The Company has granted the Underwriters an option (the “Over-Allotment Option”) to purchase up to an additional 5,000,100 Units at the Offering Price, exercisable at any time, for a period of 30 days following the closing of the Offering to cover over-allotments, if any, and for market stabilization purposes. In the event the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately C$23 million.

If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (the “CSE”) is greater than C$1.50 per Common Share for the preceding 10 consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants to a date that is at least 30 trading days following the date of the Company issuing a press release disclosing such acceleration.

The Units will be offered by way of a short form prospectus to be filed in all provinces of Canada except Quebec. The Offering is expected to close on or about February 12, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE and the applicable securities regulatory authorities.

The Company will use best efforts to obtain the necessary approvals to list the Common Shares, Warrants, and the Common Shares issuable upon exercise of the Warrants on the CSE.

The net proceeds of the Offering will be used by the Company for product research, development and expansion, to further the Company’s technological offerings and capabilities, including the build-out of its iSTRYM application and refinement of its bioinformatics statistical analysis platform PsyCollage, marketing expenditures related to company investor relations and product awareness, as well as working capital and general corporate purposes.

ON BEHALF OF THE BOARD OF MIND CURE HEALTH INC.
Kelsey Ramsden
President and Chief Executive Officer

About Mind Cure
Mind Cure Health Inc. (CSE:MCUR) exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure 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.

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

Forward Looking Statements

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: Mind Cure’s translational research program; Mind Cure’s work with psilocybin, ketamine and ibogaine; Mind Cure developing and optimizing drugs that treat pain; Mind Cure delivering validation of commercially viable medicines, methods and tools; Mind Cure building upon the current landscape of research in psychedelic compounds; Mind Cure’s research into pain; Mind Cure bringing treatment to market with speed and rigor. Forward-looking information is based on a number of key expectations and assumptions made by Mind Cure, including, without limitation: the COVID-19 pandemic impact on the Canadian and global economy and Mind Cure’s business, and the extent and duration of such impact; Mind Cure being able to research and develop optimized drugs that treat pain; Mind Cure being able to deliver validation of commercially viable medicines, methods and tools; Mind Cure being able to bring treatments to market. Although the forward-looking information contained in this news release is based upon what Mind Cure 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 and global economy, Mind Cure’s industry and its business, which may negatively impact, and may continue to negatively impact, Mind Cure and may materially adversely affect its investments, results of operations, financial condition and Mind Cure’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; Mind Cure developing optimized drugs that treat physical and psychological pain. 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 Mind Cure can be found under “Risk Factors” in Mind Cure’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 Mind Cure. The forward-looking information is stated as of the date of this news release and Mind Cure assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE Mind Cure Health Inc.

For further information: Investor Relations: investors@mindcure.com; 1-888-593-8995

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Wesana Health Closes $4 Million Convertible Note Round

Funding to support Company’s entrance into the psychedelics space

New additions to senior management and leadership teams

CHICAGO, Jan. 21, 2021 /PRNewswire/ — Wesana Health, an emerging life sciences company committed to patient empowerment and the advancement of psilocybin-based medicine to improve health and wellness, has announced the close of a $4 million convertible note financing round. The company also announced new additions to its senior leadership team.

Wesana Health Raises Funds to Enter the Psychedelics Space

The $4 million round, led by The Conscious Fund and Ambria Capital, LLC, provides funding to support the Company’s entry into the emerging psychedelics space. The proceeds will allow Wesana to begin preclinical and clinical work on the use of psychedelic-assisted therapy to treat traumatic brain injury (TBI) as well as regulatory applications including Investigational New Drug (IND) filings with the Food and Drug Administration (FDA), and Investigational Medicinal Product Dossier (IMPD) filings with Health Canada. In addition, the funds will support the build out of Wesana’s staffing and senior leadership teams.

“Partners such as The Conscious Fund and Ambria Capital, two of the leading venture investment firms in the psychedelic space, validate the Wesana business model as we enter into the next phase of our mission to improve the quality of life and overall well-being of those suffering from traumatic brain injury,” said Daniel Carcillo, Co-Founder and CEO of Wesana Health. “As someone who has personally suffered from the debilitating repercussions of repeated trauma to the brain, I know firsthand that mental healthcare in our society is greatly lacking due to poor treatment options. Our focus is on removing the stigma that exists around neurological disorders and advancing psychedelic-based therapies that will allow people to retake control of their health and overcome their trauma.”

Daniel Carcillo is a former professional hockey player who won two Stanley Cup Championships with the Chicago Blackhawks before being forced to retire at the age of 30 due to post-concussion syndrome. In the years following his professional hockey career, Carcillo has been steadfastly focused on researching and developing natural-sourced neurological treatment regimens to treat TBI. Daniel is a leading advocate for the emerging psychedelics space and sits on the board of the Heroic Hearts Project, a registered 501(c)(3) non-profit that connects military veterans struggling with mental trauma to psychedelic therapy options including ayahuasca, psilocybin and ketamine.

“As one of the leading early-stage psychedelic medicine venture funds, we were impressed by Daniel’s evolution from advocate for TBI sufferers, to creating an elite team with Chad, going from speaking out to solving real world challenges,” said Henri Sant-Cassia, Founding Partner of The Conscious Fund.

“Passionate people are at the heart of every successful medical effort, and we are pleased to continue to support the dedicated teams behind them,” said Cody Shandraw, Director for Ambria Capital, LLC. “Based upon Daniel’s tireless advocacy work, the company’s clinical development plan, and continued growth of their patent portfolio, we feel that Wesana is positioning itself for success in the future. We are confident that our investment will help capitalize on opportunities as they arise and accelerate the execution of their overall business plan.”

New Additions to Senior Management and Leadership Teams

Wesana Health announced several new members of the Company’s senior leadership and management teams with the additions of Chad Bronstein as Executive Chairman of the Board; Dawn McCollough as Chief Operating Officer; Ian McCall as Director of Athlete Relations; as well as the appointment of Mitch Kahn to the Company’s Board of Directors.

Mr. Bronstein, a Co-Founder of Wesana Health, has been appointed to serve as Executive Chairman of the Board of Directors. In addition to his duties at Wesana, Mr. Bronstein currently serves as CEO of Fyllo, a leading technology company he founded in 2019 that provides media and compliance solutions to highly regulated industries. Mr. Bronstein has more than a decade of operating, capital raising and public markets expertise and, in his role as Executive Chairman, will leverage his extensive entrepreneurial experience to support the Company’s development and future growth.

Ms. McCollough joins Wesana Health as Chief Operating Officer with over 26 years of experience overseeing global clinical development activities including the approval of drugs and multiple flu and pandemic vaccines. Prior to joining Wesana Health, Ms. McCollough served as head of Medical Research Operations and Research Team in Late-Stage Development at Biogen. Ms. McCollough also previously served as Head of the Global Monitoring Organization for North America at Novartis Vaccines and Diagnostics.

Mr. McCall is a retired American mixed martial arts World Champion, CBD ambassador, psychedelic research and psilocybin advocate as well as coach and mentor. In his role as Director of Athlete Relations, McCall will work closely alongside Carcillo to recruit and enroll athletes suffering from TBI, and who have not been healed by traditional treatments for their conditions, in a series of psychedelic-assisted therapy clinical trials. In addition, McCall will serve as an ambassador for the Company leveraging his acute knowledge and relationships within the athlete community to educate his peers on the promise of psychedelic and mycelia-based medicines. Since his retirement in 2018, McCall has become one of the most prominent voices advocating for the safe use of psilocybin and plant medicines to treat professional sports injuries and drug dependence.

Mr. Kahn was the Founder and CEO of the largest private, vertically integrated cannabis operation in the United States, Grassroots Cannabis, which was recently purchased by Curaleaf Holdings. As CEO of Grassroots, Kahn led over 1100 employees across 11 states and obtained more than 60 regulatory licenses in the emerging cannabis sector. Kahn also serves as Co-Founder and Chairman of Frontline Real Estate Partners, a Chicago-based real estate investment and advisory company with expertise in the acquisition, development, management, disposition and leasing of commercial real estate properties throughout the United States with a focus on the Midwest. In addition to his role at Grassroots and board position with Wesana Health, Mr. Kahn also sits on the Board of Directors at Fyllo and Curaleaf.

“I’m thrilled to announce the newest additions to our leadership team as we push forward with a laser focus on delivering an innovative psychedelic-therapy program that will enhance how we treat traumatic brain injuries,” added Carcillo. “Leveraging the expertise of Chad, Dawn, Mitch and Ian, we are now in a position to pursue transformational opportunities and create therapies that will result in better outcomes for those suffering from various forms of mental illness.”

About Wesana Health
Wesana Health is an emerging life sciences company championing the development and delivery of psychedelic and naturally-sourced therapies to treat traumatic brain injury (TBI). Through extensive clinical research and academic partnerships, Wesana Health is developing evidence-based formulations and protocols that empower patients to overcome neurological, psychological and mental health ailments caused by trauma.

Learn more at www.wesanahealth.com

Cision View original content:http://www.prnewswire.com/news-releases/wesana-health-closes-4-million-convertible-note-round-301212481.html

SOURCE Wesana Health

Released January 21, 2021

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BETTER PLANT AFFILIATE NEONMIND LISTS ON THE FRANKFURT STOCK EXCHANGE (FSE: 6UF)

Vancouver, B.C. – January 19, 2021: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) is pleased to announce its partially owned subsidiary NeonMind (CSE: NEON) (“NeonMind”) has common shares now trading on the Frankfurt Stock Exchange (the “FSE”) under the symbol “6UF“. As a result, NeonMind’s common shares are now cross-listed on the Canadian Securities Exchange and the FSE.  Shares of Better Plant are available on the FSE under the symbol “YG3”.

The Frankfurt Stock Exchange is one of the world’s largest trading centres for securities. With a share in turnover of around 90 per cent, it is the largest of Germany’s seven stock exchanges and it is an international trading centre, which is reflected in the structure of its participants. Of the approximately 200 market participants, roughly 50% are from countries other than Germany.

The FSE facilitates advanced electronic trading, settlement and information systems, allowing it to meet the growing requirements of cross-border trading.

 

About NeonMind Biosciences Inc.

NeonMind is a preclinical psychedelic drug development company. Its first proposed drug candidate involves the administration of psilocybin (a complex organic compound found in psychedelic mushrooms) as a treatment for obesity and related illnesses for which NeonMind is conducting a preclinical trial at the University of British Columbia. NeonMind has filed five U.S. provisional patent applications claiming methods of aiding in weight loss, treating compulsive eating disorder, treating obesity or a complication of obesity, and/or altering the diet of an individual by administering psilocybin and/or other psychedelic compounds or their analogues or by administering psilocybin or its analogue in conjunction with therapy or other treatments.  NeonMind is also pursuing commercialization of its catalogue of proprietary medicinal mushroom product formulas. It recently launched a collection of four mushroom-infused coffees containing medicinal mushrooms Lion’s Mane, Turkey Tail, Reishi and Cordyceps which are available for purchase online in Canada at www.neonmind.com.

For more information on NeonMind, go to www.NeonMindbiosciences.com or buy NeonMind mushroom infused coffee at www.NeonMind.com.

 

 

About Better Plant Sciences Inc.

Better Plant offers plant-based products for optimum health and wellness. It is a vertically integrated company with a team whose complementary experience enables acquisition, development, manufacturing, and direct-to-consumer distribution of its products. Its all-natural products vary in use from pain treatment to disease prevention to skin care, all without chemicals or harmful ingredients. It has an extensive catalogue of over 400 proprietary product formulas. Better Plant currently has over 70 plant-based products for sale through eCommerce and/or in retail stores under the brands Jusu, Urban Juve, and Wright & Well. Better Plant also owns approximately 29.2% of NeonMind.

 

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 cautions readers not to place undue reliance on forward-looking statements provided by Better, 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 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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New Wave Holdings subsidiary, Way of Will Inc. is pleased to announce its launch of high-quality mushroom products for Q1 2021

TORONTO, Jan. 14, 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 its launch of high quality new functional mushroom wellness collection under Way of Will Inc.

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

WAY OF WILL Joins the ‘Shroom Boom’ with High Quality Functional Mushroom Wellness Collection

Known and loved for their wellness formulas that incorporate natural plant-based ingredients, WAY OF WILL is pleased to announce an upcoming launch of a new product line featuring one of nature’s best ingredients: mushrooms. As part of a recent acquisition by New Wave, one of the primary goals is to make WAY OF WILL a more well-rounded and holistic company, beginning with the integration of functional mushrooms into the existing health and wellness product line.

This exciting new Functional Mushroom Collection will contain products that can be categorized into five different health and wellness subcategories. This includes:

  • An Antioxidant Blend for better overall skin heath
  • An Immunity Blend that promotes overall immunity health
  • A Brain Function Blend to help combat stress and increase brain function
  • An Energy Blend that gives a mental and mood boost
  • An Adaptogen Blend that promotes sleep and relaxation

Some of the functional mushroom varieties that can be found in the new products include Lion’s Mane, Reishi, Cordyceps, and Chaga. Each ingredient in the functional mushroom blends is carefully selected for their powerful and nutritional benefits, as well as their effectiveness in providing a natural way to maintain one’s health and wellness. WAY OF WILL has been working closely with experts and pioneers in the field to formulate new products based on the five functions in the collection.

While WAY OF WILL’s current array of aromatherapy products already focuses on benefits highlighted in the five categories listed above, the new collection will allow the trusted brand to offer a broader selection of natural wellness products to consumers.

“Our culture at WAY OF WILL is to create the highest quality plant-based nutraceuticals in the aromatherapy space,” said Willie Tsang, founder and CEO. “After countless months of hard work, we are excited to soon be able to offer new products to customers that utilize an assortment of functional mushrooms, which has been a well-loved ingredient in skincare and wellness.”

The development of this product line came after conducting extensive email surveys on current and projected market demands. Since then, multiple key chain buyers have already expressed interest in this new collection.

The products in this new line will be manufactured with our U.S. and Canadian partners. It is anticipated that the collection will leverage WAY OF WILL’s ecommerce expertise along with established relationships with wholesale partners and manufacturing partners.

This is the beginning of WAY OF WILL’S journey into the expansion of the functional mushroom product category. The Mushroom Collection is expected to launch mid-March this year.

ABOUT NEW WAVE HOLDINGS CORP.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTCPK: TRMNF) is an investment issuer focused on the burgeoning psychedelic sector and support for adaptive and progressive mental health products and therapies. In the psychedelic sector, New Wave will focus on supporting research on active psychedelic compounds, creation of consumer products based on functional mushrooms, and developing an IP portfolio focusing on psilocybin, LSD, MDMA, and ketamine derived treatments for neuropsychiatric diseases. New Wave also contains 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.

Cision
Cision

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Numinus Wellness Forges Forward into Psychedelic Discovery Research with the Orbitrap Exploris 120 Mass Spectometer

Acquisition of industry-leading instrument by Thermo Fisher Scientific will significantly advance psychedelic research and accelerate third-party standardized testing capabilities

VANCOUVER, BC, January 13, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), is excited to announce it has acquired the Orbitrap Exploris 120 mass spectrometer with Vanquish Flex Binary (“Orbitrap”) instrument for its continued research and development of Psilocybe mushroom related projects at Numinus Bioscience, the Company’s 7,000 square foot analytics and research laboratory.

Implementation of the Orbitrap, a state-of-the-art high resolution mass spectrometry instrument, will continue the accelerated trajectory of Numinus Bioscience’s research strategy to optimize cultivation, harvest, and extraction of Psilocybe mushrooms. This follows Numinus’ successful completion of the first legal extraction in Canada by a public company for research and development purposes in December.

“Numinus continues to break ground in the research and development of psychedelic-assisted psychotherapies, and the implementation of the Orbitrap Exploris 120 mass spectrometer with Vanquish Flex Binary cements our role as the centre of excellence for psychedelic research and development,” said Sharan Sidhu, Science Officer and General Manager, Numinus. “As an early psychedelic substances license holder, this announcement demonstrates our commitment to staying at the forefront of psychedelic initiatives. Acquiring the Orbitrap is a fundamental step forward in developing Numinus Bioscience’s first patent, significantly advancing Psilocybe Mushroom related psychedelic discovery research and accelerating our third-party psychedelic standardized testing capabilities.”

Numinus Bioscience is focused on developing analytical methods and formulations for the evolving psychedelics space by establishing itself at the forefront of analytical testing for psychedelics. Use of the Orbitrap Exploris 120 will allow Numinus to accelerate psychedelic standardized testing, research and development activities for third-party clients and strategic partners, as well as high throughput testing for amenable compounds.

As well, the Orbitrap will be instrumental in ensuring that dried Psilocybe Mushrooms provided for special access are safe and that the therapeutic compounds consistently meet all required specifications. This follows Health Canada’s groundbreaking announcement of its intention to revise the Special Access Programme (SAP) to permit access to MDMA and psilocybin-assisted psychotherapy in the same way other investigational medications are accessed in Canada.

Health Canada’s Notice of Intent regarding the SAP will be open for public consultation and comments for the next 60 days, and Numinus strongly encourages the community to weigh in on the benefits of the revision. View the notice here: http://www.gazette.gc.ca/rp-pr/p1/2020/2020-12-12/html/notice-avis-eng.html#nb2.

To share comments and thoughts related to the SAP, please email hc.csd.regulatory.policy-politique.reglementaire.dsc.sc@canada.ca.

About Psychedelic-Assisted Psychotherapy

Psychedelic-assisted psychotherapy has gained a great deal of interest within the medical community and general public as research results demonstrate its superior effectiveness for a range of mental health conditions. These results are contributing to a paradigm shift in both the understanding and treatment of mental health conditions.

Numinus has announced plans to embark upon open-label compassionate access clinical trials of psilocybin-assisted psychotherapy for substance use disorders and MDMA-assisted psychotherapy for PTSD, enabling it to implement, test and refine optimal protocols for delivery before these therapies are widely accessible. This includes developing physical and human resource infrastructure more broadly to deliver psychedelic-assisted psychotherapy including for Special Access Programme patients.

Numinus is uniquely positioned to provide patients with MDMA and psilocybin-assisted psychotherapy under the expanded SAP revision based on its international partnerships and extensive work completed on developing safe and evidence-based protocols for psychedelic-assisted psychotherapy. The Company is also a leader in the industry as the first public entity in Canada to receive a licence to produce and extract psilocybin from mushrooms, the first to complete a legal harvest and extraction of Psilocybe mushrooms using this licence and the holder of a Health Canada dealer’s licence to import, export, possess, test and distribute MDMA, psilocybin and other psychedelics.

Applications for Numinus’s compassionate access trials and for access under the SAP, pending approval, are not yet open. To be advised of the status and procedures for applications when available, register for Numinus’s newsletter.

###

About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

Learn more at numinus.ca, and follow us on Facebook, Twitter, and Instagram.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licences and any inability to obtain all necessary governmental approvals licences and permits to operate and expand the Company’s facilities; regulatory or political change such as changes in applicable laws and regulations, including federal and provincial legalization, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; the Company’s limited operating history and lack of historical profits; reliance on management; the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

For further information:

Dana Harvey,

Chief Communications Officer,

Numinus Wellness Inc

media@numinus.ca

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Mind Cure Signs LOI to Acquire an Ownership Interest in Psychedelic Treatment Center ATMA, Selected by Section 56 Exempt Patient for Psilocybin Therapy

The strategic partnership between Mind Cure and ATMA will bridge access to research locations for psychedelic drug research while providing patient data for iSTRYM, Mind Cure’s digital therapeutics platform.

VANCOUVER, BC, Jan. 12, 2021 /CNW/ – Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“Mind Cure” or the “Company”) is pleased to announce the signing of a non-binding letter of intent (the “LOI“) for strategic investment and commercial cooperation with ATMA Journey Centers Inc. (“ATMA“), a Calgary-based organization. ATMA is the first commercial treatment center in Canada to announce providing psychedelic-assisted therapy for a section 56 exempt patient. The LOI is intended to help Mind Cure secure an equity position within ATMA, empowering the Company with access to a global release strategy for iSTRYM, as well as international locations for translational research on novel molecules and treatment protocols.

“ATMA’s clinicians possess a proven track record of advocacy and innovation driving toward the therapeutic benefits of psychedelic medicine for patients in the treatment of mental health and wellness. Mind Cure is extremely excited to join ATMA in the renaissance  that is disrupting mental health care by partnering with one of the pioneers in the therapeutic psychedelics industry,” said Kelsey Ramsden, President & CEO, Mind Cure. “With Mind Cure’s therapeutic tool, iSTRYM, along with ATMA’s pivotal achievement as the care provider for Canada’s most recent section 56(1) exempt patient, mental health care in Canada is making history. We are thrilled to work with the best-in-class to drive our focus on accelerating our research and technology platforms.”

Mind Cure’s partnership with ATMA is an exciting opportunity for researchers and therapists to participate in each of Mind Cure’s research programs focused on pain, neuroregeneration, migraines, and cluster headaches. The proposed investment will facilitate the syndication of Mind Cure’s psychedelic drug protocols and the use of Mind Cure’s proprietary technology, iSTRYM, to optimize treatment for ATMA clients.

The deployment of capital will also advance speed and scale for data enrichment of iSTRYM, providing the AI-driven platform with access to patient data as ATMA targets domestic and international healing and treatment centers.

“Psilocybin-assisted therapy offers healing and understanding that is unmatched by traditional methods. Patients dealing with end-of-life anxiety, pain, depression, trauma, and addiction have been at the mercy of ineffective and underwhelming treatments for much too long. The resources are here, and we are extremely grateful to be at the frontlines of this world-changing, innovative, and extremely alleviating solution, to help bring peace to sufferers,” said David Harder, co-CEO, ATMA Journey Centers Inc. “We are witnessing an inflection point for mental health treatment as the commitment to wellness in Canada takes a huge step forward.”

Pursuant to the LOI, the parties intend to negotiate the terms of definitive agreements (the “Definitive Agreements“), which will provide for, among other things an initial $500,000 investment by Mind Cure in ATMA, participation by Mind Cure in ATMA’s future financings, and the exclusive use of iSTRYM throughout ATMA’s business. There can be no assurance that the Definitive Agreements will be entered into or that the investment or commercial transactions will be completed on the terms proposed in the LOI or at all.

About ATMA Journey Centers Inc. and SYNTAC Institute

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 is the first private sector service provider in Canada to announce psychedelic-assisted therapy provision under the approval of Health Canada’s Section 56(1) exemption, which will allow ATMA to provide psilocybin-assisted therapy to those seeking psychedelic assisted therapy.

ATMA’s founding members, David Harder, Greg Habstritt, and Vu Tran, also founded SYNTAC Institute, a non-profit organization with the mission of bringing the healing and transformative power of psychedelic medicine and psychedelic-assisted therapy to Canadians. SYNTAC has been an influential participant in the Canadian psychedelic medicine industry and operates Catalyst Presents, a series of conferences and summits in Canada focused on psychedelics.

About Mind Cure Health Inc.

Mind Cure exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure 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.

Mind Cure is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. Mind Cure 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

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: the conclusion of the transactions and negotiation of the Definitive Agreements contemplated by the LOI on the terms disclosed herein, or at all; ATMA conducting additional psychedelic-assisted therapy; the disruption of mental health care through psychedelic-based therapies; the development of iSTRYM and incorporation into ATMA’s business; the relationship with ATMA accelerating the development of Mind Cure’s research and technology platforms; participation of researchers and therapists in Mind Cure’s research programs; Mind Cure’s investment facilitating the syndication of Mind Cure’s psychedelic drug protocols and the development of those protocols; protocols and iSTRYM to optimize treatment for ATMA clients and driving greater access to patient data for the AI-driven digital therapeutics platform; the roll-out of domestic and international treatment centres by ATMA; the realization of an inflexion point for mental health treatment; and Mind Cure’s collection of data from ATMA’s section 56 exempt clients.

Forward-looking information is based on a number of key expectations and assumptions made by Mind Cure, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and Mind Cure’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect Mind Cure’s business; there will be a demand for Mind Cure’s products and ATMA’s clinics in the future; no unanticipated expenses or costs arise; Mind Cure 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 Mind Cure achieve its business goals; and Mind Cure will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what Mind Cure 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, Mind Cure’s industry and Mind Cure’s business, which may negatively impact, and may continue to negatively impact, Mind Cure and may materially adversely affect Mind Cure’s investments, results of operations, financial condition, and Mind Cure’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; Mind Cure’s partnership with ATMA may not help Mind Cure achieve its business goals; iSTRYM, and its database function may not be successfully developed or help to optimize protocols and enhance scientific research; 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 Mind Cure can be found under “Risk Factors” in Mind Cure’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 Mind Cure. The forward-looking information is stated as of the date of this news release and Mind Cure 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.

For further information: Investor Relations: investors@mindcure.com 1-888-593-8995

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As the Focus on Psychedelic Stocks Increases, So Do the Valuations

Published at Real Money

By Debra Borchardt

‍

Stocks quotes in this article: CMPS, MMEDF, CLXPF, MYCOF, CGC

With so many new IPOs and companies launching in the psychedelic industry it’s important to fully evaluate the major factors of success or failure in the industry. There are various steps that companies take to have a drug approved and to successfully complete them it takes years and tens of millions of dollars. The further ahead a company moves in the approval process, the more valuable the company becomes, and that is why there is so much excitement for Compass Pathways (CMPS) . Institutional and retail investors are in a frenzy to get a position. The company is in Phase 2b and has received a “Breakthrough Therapy” designation from the FDA, meaning that their therapy has the potential to be more effective than available medications.

Currently there are only a handful of companies that have:

  • Access to psychedelic compounds
  • A clear idea of the disorder they are targeting, also known as drug indication
  • Are actively running a clinical trial.

It’s important for investors to be mindful of the stage a company is in and to fully evaluate if a company they are investing in has the potential to be successful.

The only companies that have Phase 2 clinical trials now are Compass Pathways, Mind Medicine (MMEDF) , Cybin Inc. (CLXPF)  , and Mydecine Innovations Group (MYCOF) . Here’s an analysis of these biotech players and we highlight the most undervalued company in the industry.

What is the Drug Discovery Process?

The drug development process being undertaken is to ensure these treatments are safe and effective for consumption.

  1. The drug is investigated and screened tested on animals to prove safety (can be skipped since psilocybin has been proven safe and effective)
  2. Investigational drug application to FDA and Health Canada is submitted that includes, drug composition, formulation and manufacturing process
  3. Clinical Trial Plan including selection of location
  4. Recruitment of volunteers
  5. Analysis of findings and submission
  6. Approved to move to next Phase in larger population

Psychedelic Companies with Phase 2 Trials Valuation Comparison

Biotechnology companies are hard to value as it’s hard to predict success of clinical trials. Biotech companies are unique types of investments that can either pay off handsomely or end with a complete loss of capital. One of the best ways to value a company is by looking at the size of the addressable market and estimating the potential market penetration.

The reason Compass Pathways is leading the charge in psychedelics is they have a drug that is more effective than anything available, has a total addressable market of 16 million adults, and can upend this entire market as a whole.

What key parameters to look for valuing biotech companies?

  1. Experienced Science team
  2. Experienced Management Team
  3. Intellectual property protection
  4. Large addressable market
  5. Potential Market Penetration Possible
  6. Access to patients
  7. Access to active ingredients
  8. Unique R&D Capabilities
  9. Scientific Community Collaborations

Compass Pathways

COMPASS Pathwaysoperates as a mental health care company in the UK and the U.S. It develops COMP360, a psilocybin formulation, which is in Phase IIb clinical trial to treat patients with treatment-resistant depression. The company is currently the most valuable and most well-known company in the industry and has raised over $250 million since its inception.

Current Market Cap: $1.57 Billion

Drug in development: COMP360 Psilocybin for Depression

Indication: Treatment Resistant Depression

Total Addressable Market: $1.12 billion by 2024

Stage: Phase 2B

Location: Multiple sites globally

Mind Medicine Inc.

Mind Medicine, also known as MindMed, is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company’s immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD. The company has also added MDMA to its R&D pipeline to explore MDMA’s potential to treat mental health disorders.

Current Market Cap: $977 Million

Drugs in development: LSD for Adult ADHD, LSD for Suicide Headaches, Ibogaine for Addiction

Indication: Various

Total Addressable Market: Unknown but the largest of all studied companies

Stage: Phase 2a

Location: Multiple sites globally

Cybin Inc.

Cybin is a life sciences company advancing psychedelic pharmaceutical treatments for various psychiatric and neurological conditions. Cybin is developing technologies and delivery systems, aiming to improve bioavailability, to potentially achieve the desired medicinal effects of psychedelics at low dosage levels. The new delivery systems are expected to be studied through clinical trials to confirm safety and efficacy.

Current Market Cap: $203 Million

Drug in development: Sublingual Psilocybin Delivery Mechanism for Depression

Indication: Major Depressive Disorder

Total Addressable Market: $5.8 billion by 2025

Stage: Phase 2 A

Location: University of West Indies Jamaica

Mydecine Innovations Group

Mydecine Innovations Group is a life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing well-being. The company’s world-renowned medical and scientific advisory board is progressing a robust R&D pipeline of psychedelic derived therapeutics, novel compounds, therapies, and controlled drug delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, extract, and analyze natural and synthetic psychedelic compounds with full government approval through Health Canada.

Mydecine was the first company to offer CGMP naturally sourced psilocybin and recently made history again by making the first legal export of Magic Mushrooms. Mydecine has a big focus on intellectual property and is utilizing genome technology (editing plants like what GW Pharma did in Cannabis) under the leadership of Rob Roscow the ex-Canopy Growth (CGC) head of genetics and at Mydecine’s U.S. and Canadian laboratories. The company now has over 20 kilos of psilocybin mushrooms – most in the industry – and has active ingredients for their trials at a fraction of the cost that Compass Pathways or Cybin ever can with their synthetic drugs.

Current Market Cap: $56 Million

Drug in development: Naturally Sourced Psilocybin

Indication: PTSD

Total Addressable Market: $10.6 B by 2026

Stage: Phase 2 A

Location: Multiple Sites Globally

As illustrated above, by making side by side comparisons of companies that are in Phase 2 trial studies, investors can quickly see the size of the addressable audience and the market cap of the company. This makes it easier to see if there is a stock that might have more room for upside than others. As the focus on psychedelic stocks increases, so do the valuations. There is concern that some company valuations have gotten ahead of themselves and investors may want to take that into consideration before hitting the buy button.

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Will psychedelic mushroom vacations come to the U. S.?

The palm-fringed beachfront and breezy cabanas at MycoMeditations are the stuff of glossy travel brochures, but the barefoot vacationers roaming the Jamaican retreat center this winter are seeking a different kind of trip entirely.

They’re here for facilitated sessions using psychedelic psilocybin mushrooms. One of a handful of established psilocybin retreat centers in the world, MycoMeditations was founded in 2015, and in the years since has seen surging interest in the reputed mental health benefits of psychedelics. Often, it’s from people surprised to find themselves seeking help from a mysterious fungus at all.

“In my life I had never done any psychedelic,” said Jessica Young, a 41-year-old executive from Atlanta, who flew to Jamaica for a MycoMeditations retreat in November 2019. “It’s pretty out of character for me.”

Like many Americans unfamiliar with crystal magic or jam band music, Young knew little about psychedelics before reading the best-selling 2018 book “How to Change Your Mind,” by journalist Michael Pollan.

In it, Pollan surveys recent research into psychedelics, which show promise for maladies from treatment-resistant depression to end-of-life distress. Such professorial passages alternate with Pollan’s eyebrow-raising personal experiences with psychedelics including psilocybin, LSD and the crystallized venom of a Sonoran Desert toad.

Young had just turned 40 when she read the book, and she was intrigued by the promise of personal growth that psilocybin seemed to offer. But despite the relative mainstreaming of psychedelics in recent years, psilocybin mushrooms are ranked alongside heroin as a Schedule 1 drug in the United States. To try them legally — an important stipulation for Young — she would have to look abroad.

“Psilocybin is not illegal here, and it’s one of the few places in the world where you can actually use these substances,” said Justin Townsend, MycoMeditations’ CEO and head facilitator. (The Netherlands, where a legal loophole allows for the sale of psilocybin sclerotia, or “truffles,” is another major destination.)

But over recent months, decriminalization efforts have opened a chink in the United States’ forbidding drug laws. In November, D.C. voters approved a ballot initiative to decriminalize the use of psilocybin mushrooms, while Oregonians approved the legal use of psilocybin in therapeutic settings. If restrictions continue to loosen, could stateside psychedelic getaways be America’s next big wellness-
travel trend?

Demand is there. Each month, the inbox of researcher Robin Carhart-Harris fills with requests, sometimes pleas, to join clinical trials at the Centre for Psychedelic Research that he heads at Imperial College London.

When it comes to the healing power of psychedelics, “demand vastly exceeds supply,” Carhart-Harris said. “They’re suffering, and they’re desperate, and other treatments maybe aren’t working.” When it launched in 2019, the center became the world’s first formal site focusing exclusively on psychedelic research; later that same year, Johns Hopkins opened the Center for Psychedelic and Consciousness Research.

Promising findings about psychedelics include treatments for trauma, anorexia, treatment-
resistant depression, addiction and more. Many of those who contact Carhart-Harris in hopes of joining a clinical study are suffering from these. “Often it’s really sad,” he said. “A few a day is typical, and we can’t do anything.”

Mushroom capsules at MycoMeditations. Last year, U.S. News & World Report speculated that psilocybin could beat out cannabis as a hot investment. (Abbie Townsend)

Retreats step into the void between the swelling interest in psychedelic therapy and the tightly controlled trials carried out at the new research centers. And those retreats run a remarkable gamut. Some employ the language, tone and sleekly modern aesthetic of upscale clinics; others are crunchy, off-grid hippie getaways with training lineages rooted in shamanism.

Carhart-Harris’s research has convinced him that psychedelics can facilitate profound transformations, and he’s optimistic about their use beyond the lab. When compared with other drugs — or even alcohol — psilocybin is remarkably safe. It’s not addictive, and toxicity is very low.

In 2018, Carhart-Harris and a team of other researchers published survey results focused on psychedelic experiences “in the wild” — people who got their own stash of drugs and launched into orbit without supervision from a PhD. Overall, respondents did well. “That aggregate data is tending toward improvement,” Carhart-Harris said. “Any negative changes in mental health outcomes are very much the anomaly.”

In addition to offering legal alternatives to an at-home trip, retreats provide support, with the possibility of post-trip counseling to help with “integration,” a meaning-making process many believe is essential. But Carhart-Harris also sees pitfalls in the drugs’ very promise. “It’s easy to see how powerful they are,” he said. “It’s unusual to find drugs, or any intervention, that could change people as reliably. That power requires some responsibility and careful thought around harnessing it safely.”

Writer Michelle Janikian, author of the 2019 book “Your Psilocybin Mushroom Companion,” has volunteered at and participated in magic-mushroom retreats, and echoed Carhart-Harris’s caution. “Folks need to research their retreat leaders,” she said. “Do your homework first to make sure it’s a safe and integral place.”

But Janikian, like many in the world of psychedelics, welcomes the nascent push to legalize and decriminalize psilocybin in the United States. “I’m very excited to see how it continues to go — I think the recent passage in Oregon is going to have kind of a ripple effect.”

Michelle Janikian’s “Your Psilocybin Mushroom Companion,” a guide published in November of 2019. (Ulysses Press)

And many in the investor class see a bright future for magic mushrooms. In September, U.S. News & World Report speculated that psilocybin could beat out cannabis as a hot investment, citing a market analysis estimating the psilocybin market may grow to $100 billion.

Retreats could be part of that growth. Within days of the Oregon vote to legalize psilocybin use in therapeutic settings, Oregon-based Silo Wellness — which cultivates psychedelic mushrooms in Jamaica — announced an Oregon wellness retreat using the drug ketamine. For five socially distanced days in January, a small group will explore waterfalls, go white-water rafting, meditate and undergo three sessions of ketamine-assisted therapy led by naturopath Matthew Hicks.

Silo Wellness founder Mike Arnold described the ketamine sessions as the first legal psychedelic retreat to take place in the United States. (There’s a long-running underground of unsanctioned psychedelic retreats across the country.) Next, he’s planning psilocybin retreats in Jamaica and hopes that soon they’ll be taking place closer to home. Arnold, who would like to see the state become a psychedelic retreat destination, is staking his company on psilocybin’s potential to expand both markets and minds.

What will that mean for Americans? For Young, who traveled to Jamaica in 2019, the experience was transformative.

While she worried she would find a bunch of partying bros, her 2019 retreat was anything but. Instead, she was part of an ­11-person cohort that included six women, more than one grandmother, medical and mental health professionals, scientists and a construction worker.

“Everyone was there with the intention to do some serious work,” Young said. So was she: Over three psilocybin sessions, Young said she grew in ways that years of therapy hadn’t achieved. In November 2020, she returned for a second retreat.

“I came out of that with this very deep knowing that this life force that’s all around us — what I would call love, essentially — is abundant, is ever present,” Young said. “I know that sounds like it comes from a pack of tarot cards. But for me, it’s profound.”

Smith is a writer based in Vermont. Her website is jenrosesmith.com. Find her on Twitter and Instagram @jenrosesmithvt.

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Numinus Signs Lab Services Agreement with Optimi Health to Advance Research and Development of Psychedelic Products

The agreement will focus on developing safe, effective, all-natural products for the emerging psychedelic industry

VANCOUVER, BC, January 6, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), announced today that it has signed a lab services agreement with Optimi Health Corp. (“Optimi”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, to further the research and development of Canadian-grown psilocybin-producing mushrooms.

Through this first-of-its-kind agreement, Optimi will utilize and leverage Numinus Bioscience’s laboratories, equipment, services and expertise, with the goal of developing products for the emerging psychedelic industry. Optimi has applied to Health Canada for a research exemption allowing it to conduct activities involving psychedelic compounds and, in advance of approval, will undertake a number of research and development projects with Numinus related to Psilocybe mushrooms, psychedelic compounds, and formulations.

“We’re excited to partner with Optimi and its highly experienced and passionate team to advance psychedelic initiatives and develop safe and effective products,” said Payton Nyquvest, CEO, Founder and Chairman, Numinus. “Demand for natural products that optimize mental health and performance continues to grow, and we see great potential in psilocybin-producing mushroom products to provide these benefits. We look forward to working with Optimi to advance development in this rapidly expanding marketplace.”

“Numinus is an ideal partner to further our research and development of Psilocybe mushroom and associated derivatives-based products,” said Mike Stier, CEO, Optimi Health Corp. “Numinus’ state-of-the art laboratory, specialized equipment and second-to-none expertise in psychedelic research will be critical to developing the safe, effective, all-natural products that we believe to be the flagship products in this space.”

Under the terms of the agreement, Optimi will pay an initial retainer with fees for services determined and replenished on a project-by-project basis. Each project is expected to be a stand-alone project that is defined by a Statement of Work, and while certain projects may build upon previously completed ones, there may also be several projects undertaken at the same time. Optimi will further issue to Numinus 150,000 fully paid and non-assessable common shares in the capital of Optimi (each a “Share”) on January 4, 2021 and 150,000 Shares upon completing the first project that the parties enter into. All shares will be subject to resale restrictions expiring four months and one day from their date of issue.

Numinus Bioscience’s laboratory provides services including cultivation, analytical testing, product research and development, and ancillary services in the area of psychedelics. The agreement with Optimi, is effective January 4, 2021 and constitutes one of the first opportunities for Numinus to generate revenue from independent parties utilizing our state of the art laboratory facility, scientific expertise and authorization to work with controlled drugs and substances.

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About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

Learn more at numinus.ca, and follow us on Facebook, Twitter, and Instagram.

About Optimi Health

Optimi Health is developing a vertically integrated Canadian functional mushroom brand that focuses on the health and wellness sector. The Company intends to cultivate, extract, process and distribute high quality strains of fungi products in its facility located in Princeton, British Columbia. Optimi intends to grow and process functional mushrooms in order to develop and sell its mushrooms and related health food products directly to consumers, and to other health food brands and distributors.

Find out more at optimihealth.ca

Forward Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licences and any inability to obtain all necessary governmental approvals licences and permits to operate and expand the Company’s facilities; regulatory or political change such as changes in applicable laws and regulations, including federal and provincial legalization, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; the Company’s limited operating history and lack of historical profits; reliance on management; the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

For further information:

Dana Harvey,

Chief Communications Officer,

Numinus Wellness Inc

media@numinus.ca