Posted on

BETTER PLANT AFFILIATE NEONMIND TO COMPLETE FULLY SUBSCRIBED IPO AND COMMENCE TRADING ON MONDAY, JANUARY 4, 2021 UNDER THE SYMBOL NEON

Vancouver, B.C. –  December 29, 2020: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) announces the common shares of its partially owned subsidiary NeonMind Biosciences Inc. (“NeonMind“) are now approved for trading on the Canadian Securities Exchange (the “Exchange”) as a new listing under the stock ticker symbol “NEON”.  NeonMind expects to close its fully subscribed Initial Public Offering on December 30, 2020 and commence trading on the Exchange under the symbol “NEON” on Monday, January 4, 2021.

The listing of NeonMind on the Exchange will not affect the listing of Better Plant and Better Plant’s common stock will continue to trade on the Exchange under the ticker symbol “PLNT”, and continue to trade on the OTCQB under the ticker symbol “VEGGF”.   Better Plant owns 33,313,500 common shares in NeonMind, which are  subject to an escrow agreement which releases the shares for transfer in tranches over a 3 year period, in accordance with National Policy 46-201.

More information on NeonMind and the NeonMind IPO can be found in NeonMind’s final prospectus which is available on SEDAR at www.sedar.com under issuer information for NeonMind Biosciences Inc.

 

About NeonMind Biosciences Inc.

NeonMind plans to help people change their lives by changing their minds, through treatment with psychedelics.  It is tackling one of the biggest health issues the world is facing right now: obesity. It’s an epidemic that is responsible for 37% of the global burden of disease, according to the World Health Organization. NeonMind is engaged in research to develop a patent pending treatment using psilocybin (a complex organic compound found in psychedelic mushrooms) to cause weight loss. It commenced a Preclinical Trial in November 2020 at the University of British Columbia after Health Canada granted authorization to the Principal Investigator to use psilocybin for NeonMind’s Preclinical Trial.

NeonMind has filed 5 US 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 analogs or by administering psilocybin or its analog in conjunction with therapy or other treatments.

NeonMind has also commercialized a collection of 4 coffees infused with medicinal mushrooms Lion’s Mane, Turkey Tail, Reishi and Cordyceps, which are available for purchase in Canada at www.neonmind.com.

 

About Better Plant Sciences Inc. 

Better Plant offers a collection of high-efficacy, plant-based products for optimum health and wellness. It creates formulations with the highest quality, natural raw ingredients, combining modern science with nature to create highly-effective, results-driven products for the mind, body and home.

It is a vertically-integrated company with a team whose complementary experience enables acquisition, development, manufacturing, and direct-to-consumer distribution of its products.  Better Plant is committed to staying at the forefront of plant-science research and development, and is constantly engaged in research to further expand its portfolio of over 400 proprietary formulations and over 70 SKUs which are currently for sale. Its all natural formulas are designed for health optimization, all without chemicals or harmful ingredients.  Better Plant also supports and develops companies with products or services that can help create a better planet, with healthier and happier people.  Its minority owned subsidiary NeonMind Biosciences is  developing treatments with psychedelics and has commercialized  a line of plant-based coffees infused with health optimizing medicinal mushrooms which are for sale at www.neonmind.com.  Better Plant operates the direct to consumer platforms www.getjusu.com and www.urbanjuve.com.

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

 

Investor Relations Contact:

Penny White, President & CEO

Ali Dumanski, Director of Investor Relations

invest@betterplantsciences.com 

1-833-514-2677

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 closing of the NeonMind IPO, the listing of NeonMind on the Exchange, 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.

Posted on

Numinus Announces Closing of $17 Million Bought Deal Offering Including Full Exercise of Over-Allotment Option

Proceeds add to recently executed warrants and options of $8.9 million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, December 29, 2020, 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, is pleased to announce that it has closed its previously announced bought deal public offering (the “Offering“) of units (the “Units”) through Canaccord Genuity Corp. and Eight Capital (the “Underwriters”) pursuant to a short form prospectus dated December 21, 2020.

Pursuant to the Offering, the Company issued 25,367,850 Units, on an underwritten basis, at the purchase price of $0.68 per Unit (the “Offering Price”), for aggregate gross proceeds to the Company of $17,250,138, which includes the exercise, in full, by the Underwriters of the over-allotment option (the “Over-Allotment Option”) granted by the Company to purchase an additional 3,308,850 Units at the Offering Price.

Each Unit consists of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one Common Share until December 29, 2022 at an exercise price of $0.90 per Common Share.

In consideration for their services, the Company paid to the Underwriters a cash commission equal to 6% of the aggregate gross proceeds of the Offering in the amount of $1,035,008.28, including gross process raised on exercise of the Over-Allotment Option, and issued to the Underwriters 1,522,071 compensation warrants (the “Compensation Warrants”). Each Compensation Warrant may be exercised to acquire one Common Share (each, a “Compensation Share”) at an exercise price of $0.68 per Compensation Share until December 29, 2022.

In addition, the Company paid a corporate finance fee (the “Corporate Finance Fee”) in the amount of $250,000 with 50% of the Corporate Finance Fee paid in cash and 50% of the Corporate Finance Fee paid in Common Shares (the “Corporate Finance Fee Shares”) at a deemed price of $0.68 per Corporate Finance Fee Share for a total of 183,824 Corporate Finance Fee Shares.

The Company intends to use the net proceeds of the Offering for clinic upgrades to prepare for clinical trials, laboratory upgrades, clinic acquisitions, research and development of medical protocols, and general working capital.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

In addition to the bought deal public offering, over the past 12 weeks, Numinus has received approximately $8.9 million in gross proceeds from the exercise of warrants and stock options.

“This over-subscribed financing, along with the exercised warrants and options, not only strengthens our cash position, but clearly demonstrates confidence in our business model, our progress, and our growth prospects,” said Payton Nyquvest, Founder, CEO, and Chair, Numinus. “We are closing off 2020 in a strong position with the financing topping off our recent exclusive Psilocybe harvest and extraction, our planned compassionate access trial of psilocybin, our partnership with MAPS for an MDMA compassionate access trial, our national expansion with the acquisition of Mindspace, and our successful lobbying of Health Canada resulting in its notice of intent to amend the Special Access Programme to include accessibility to psilocybin and MDMA. We are ready for a fast-paced year ahead, and I would like to use this opportunity to sincerely thank our supporters and to wish you all a healthy, safe and happy New Year.”

 

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 information” within the meaning of applicable securities laws, including but not limited to statements relating to the use of proceeds from the Offering. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

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

ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.

Payton Nyquvest

President, Chief Executive Officer and Chair

For further information: Dana Harvey, Chief Communications Officer, media@numinus.ca

Posted on

The Year In Review For Psychedelic Drug Stocks: 2020

Published at PsychedelicStockWatch.com.

By Jeff Nielson

‍

In 2020, the psychedelic drug industry burst onto the radar of investors. As psychedelic drug research exploded and new capital has flooded into this sector, a vibrant core of public companies has commenced trading.

Still other pubcos have either added a psychedelics component to their business model or simply rebranded the entire company. Psychedelic drugs became the most important story in life sciences in 2020.

As investors look ahead to 2021, Psychedelic Stock Watch is looking back. We have prepared a 2020 Report Card for the psychedelic drug industry, measuring its development in 5 key categories.

Here is the Psychedelic Stock Watch 2020 review.

Stock performance:  A

After a subdued summer for psychedelic stocks, the industry caught fire in September with the Compass Pathways IPO. A new NASDAQ listing and the nearly $150 million raised by Compass for its IPO financing provided an instant credibility boost for these new public companies.

See: Compass Pathways Files For NASDAQ Listing: Psychedelics Game-Changer

Several stocks went vertical. Investors who got in early had a number of multi-bagger opportunities.

The Compass IPO was the initial catalyst driving this rally. But fueling upward momentum was a rapid-fire series of new financings that injected ~$500 million into the sector – in just the last 3 ½ months of 2020.

Raising capital:  A+

Drug development is expensive. Taking a single drug through the clinical trials process can cost in excess of $100 million – and consume several years of time.

Even building and operating a network of psychedelics-assisted treatment clinics requires robust infusions of capital. As the psychedelic drug industry was getting off the ground, many investors were justifiably skeptical as to whether the industry could attract sufficient capital.

As we reach the end of 2020, those doubts have evaporated.

We’ve seen companies (public and private) close on several nine-figure financings.

We saw one company (MindMed) go to capital markets with new offerings three times in just the last quarter. Each financing was at a dramatically higher unit price (CAD$1.05 –> CAD$1.90 –> CAD$4.40) and each one was oversubscribed.

Indeed, virtually every new psychedelics private placement in the fourth quarter was oversubscribed, as institutions and high net-worth investors engaged in a feeding frenzy.

Psychedelic drug R&D:  A

Psychedelic Stock Watch is assigning the industry an “A” for its progress in psychedelic drug R&D in 2020. But many readers may see even that high grade as being too low.

As we end the year, one psychedelic drug clinical trial is moving into (final) Phase 3 testing. MAPS’ MDMA-assisted psychotherapy for the treatment of PTSD has commenced this stage of the clinical trials process – with early indications strongly pointing toward a successful result.

Based on earlier promising results (and an urgent need), the FDA has granted Breakthrough Therapy Designation to this research, further streamlining the clinical trial process.

Numerous other psychedelics-based clinical trials are at various stages of a Phase 2 trial.

Among the public companies beginning or engaged in Phase 2 clinical trials involving psychedelics are: Compass Pathways, MindMed Inc, Cybin Corp, and Mydecine Innovations Group. Indeed, MindMed itself has three drug R&D initiatives in or beginning Phase 2 trials.

Of equal importance are the clinical results emerging from these drug trials.

Compass Pathways’ Phase 2 clinical trial for treatment-resistant depression has also received Breakthrough Therapy Designation, due to the strong results from its own research.

We are currently in the midst of a Mental Health Crisis, with stress-related disorders like depression, addiction, anxiety and PTSD afflicting over 1 billion people globally. Much of the reason why this has become a crisis is the appalling standard of care for many of these conditions.

Addiction therapy is a revolving-door failure. Rehab, release, relapse, repeat.

Front-line drugs to treat depression (antidepressants) are dangerous and addictive. And their efficacy is little better than that of sugar pills. Roughly two-thirds of Americans exhibiting symptoms of depression don’t even seek treatment.

Meanwhile, clinical testing on psychedelics-based therapies is consistently yielding spectacular success rates for addiction, depression and PTSD.

MAPS’ MDMA-assisted psychotherapy for PTSD has been generating positive results for ~90% of patients being treated. Conversely, roughly two-thirds of U.S. veterans being treated for PTSD by the Department of Defense express dissatisfaction with the current standard of care.

The Department of Defense has become a major booster of psychedelic drug research – and has itself contributed $10s of millions for research funding.

Why no “A+” for psychedelic drug R&D in 2020?

One simple reason: no psychedelic drug completed the clinical trial process in 2020. But we could easily see this occur in 2021 – earning the sector an even higher letter-grade next year.

Media/public opinion: A+

Most psychedelic drugs are illegal, and have been strictly prohibited for ~50 years. Through nearly all of this time, the mainstream media has demonized any/all usage of these substances.

Why are we reminding readers of these facts?

Because if we look around today at public attitudes and what is being written in the media about these drugs, visitors from a distant planet would never guess that these drugs are still (mostly) illegal.

In the medical community, a Renaissance has taken place regarding psychedelics-based research. A long-and-growing list of physicians are banging the drum for the medicinal potential of these drugs – including many of the brightest minds in medicine.

See: The Psychedelics Revolution: It’s No Longer BAD To Feel GOOD

Among the general public, there are two parallel tracks of interest that are both seeing exponential increases in support:

  • Gaining access to psychedelic medicines to elevate the standard of care for many mental health disorders.
  • “Biohacking” with these substances (generally via microdosing) as a new health-and-wellness trend to significantly improve quality of life and/or career performance.

Despite 50 years of anti-psychedelics propaganda (by government and media) fears/phobias toward these drugs are rapidly dissipating.

Most surprising, however, has been the change in media attitudes and coverage of psychedelic drugs.

The anti-drug propaganda is gone. It has been replaced by in-depth, fact-based coverage of psychedelics and psychedelic drug R&D, with mainstream media coverage universally positive.

Psilocybin Sessions: Psychedelics could help people with addiction and anxiety (CBS News, August 2020)

We can no longer ignore the potential of psychedelic drugs to treat depression (The Guardian, June 2020)

Psychedelic Drugs Like LSD and Magic Mushrooms Linked to Transformative Experiences, Feeling Connected With Others (Newsweek, January 2020)

The mainstream media still regularly smears the (legal) cannabis industry with archaic propaganda that has been completely discredited. But these same large corporations have turned over the proverbial “new leaf” when it comes to how they cover psychedelic drugs.

In turn, the consistently positive optics being projected on psychedelics by the media can only have a beneficial effect on political and regulatory attitudes toward psychedelic drugs.

Regulatory thaw:  B

In 2020, the psychedelic drug industry has addressed – and essentially eliminated – investor doubts in several key areas. When it comes to stock performance, capital raising, drug R&D and public opinion, the psychedelic drug industry couldn’t look any stronger as 2020 comes to a close.

Yet one area of doubt remains: the decriminalization/legalization of these substances and subsequently creating a regulatory framework for these emerging drugs.

Considerable progress has been made this year.

Several U.S. cities have decriminalized psychedelic drugs. In the recent U.S. election, the state of Oregon not only broadly decriminalized psychedelic drugs, it has legalized psilocybin for medicinal use.

In Canada, progress began a little later but is moving even faster – much like we saw with cannabis legalization.

It started at the beginning of August, when Health Canada granted “medical exemptions” to allow medicinal psilocybin use for four terminally-ill patients.

Subsequently, Health Canada has expanded these medical exemptions for psilocybin use for patients. More importantly, it has granted several psychedelics therapists permission to personally use these substances to help refine treatment.

In the space of a few months, Health Canada has gone from being cautiously receptive toward the medicinal use of psilocybin to moving clearly and methodically to broaden medicinal usage in Canada.

One observer with a strong interest in these developments is Doug Drysdale, CEO of Cybin Corp. Cybin is one of the public companies that is well-advanced into formal clinical trials with its psilocybin-based R&D.

Drysdale estimates that psilocybin-based therapies will start to be approved (as they emerge from these clinical trials) in roughly a two-year time frame. And he sees psilocybin legalization (at least in Canada) as a real possibility over the same time-horizon.

While the psychedelic drug industry earns a solid “B” for regulatory progress in 2020, the sector is still at the beginning of a long road.

Better days ahead for psychedelic stocks

As good as 2020 was for the psychedelic drug industry, expectations for 2021 are even higher. The half-billion in fresh capital that was raised in roughly the last quarter of 2020 is sufficient to drive plenty of growth in this industry in the first half of 2021.

Major industry catalysts loom for early 2021.

More companies will be going public. New investment capital will continue to flood into the industry. Regulatory progress should accelerate. And several psychedelic drugs should get much closer to the drug approval finish line in 2021.

Also, two dimensions of the industry that were just starting to gain prominence in 2020 will be squarely in the spotlight for investors in 2021.

DISCLOSURE: The writer holds shares in MindMed Inc, Numinus Wellness, Cybin Corp and Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.

Posted on

Psychedelics Industry Gearing Up For an Even Bigger 2021

Published at prnewswire.com.

‍

NEW YORK, Dec. 21, 2020 /PRNewswire/ — Investments continued flowing into the psychedelic medicine sector this year and will likely continue in 2021 as mental illness cases rise across the globe. The World Health Organization (WHO) estimates that 700 million cases of mental and neurological disorders are reported annually, accounting for 13% of global disease burden. Of course, these are only reported cases, so the number is likely much higher and will likely rise further due to the ongoing health crisis. Luckily, growing awareness around mental illness has led to a slew of research and development for effective novel treatments to help combat the growing mental health crisis. Psychedelic medicine for mental illness is one area that has gained the spotlight after Johnson & Johnson’s (NYSE: JNJ) severe depression drug was handed approval. Now, a number of psychedelic-focused companies like Mydecine Innovations Group Inc. (CSE: MYCO) (MYCOF), COMPASS Pathways Plc (NASDAQ: CMPS), Tonix Pharmaceuticals (NASDAQ: TNXP), and Numinus Wellness Inc. (NEO: NUMI) (TSXV: NUMI) (OTCPK: LKYSF) are joining the fight against mental illness with a variety of promising, psychedelic-based treatments.

Biopharma and life sciences company Mydecine Innovations Group is focused on developing and commercializing innovative solutions to treat mental health problems and enhance well being. Since the beginning of 2020, the company has hit several significant milestones to help progress its robust pipeline of psychedelic derived therapeutics, novel compounds, therapies, and controlled drug delivery systems.

Mydecine Innovations Edges Towards FDA Filing

Sentiments toward psychedelic-derived medicines have evolved significantly in the last couple of years, especially following the US Food and Drug Administration’s (FDA) approval of  Johnson & Johnson’s (NYSE:JNJ) Ketamine-like drug treatment for severe depression in March 2019. The FDA approved Spravato as a fast-acting treatment for patients with hard-to-treat depression and it became the first of several psychoactive substances moving through the US regulatory process. The administration has since granted Breakthrough Therapy Designation to two psychedelic treatments, paving the way for others to follow suit.

Mydecine Innovations Group just announced that it has partnered with ProPharma Group to proceed with the FDA filing and approval of its drug development platform and various stage clinical trials. ProPharma is the leading provider of regulatory and compliance services to the pharmaceutical, biotech, and medical device industries with “a strong track record of working with life sciences and biopharma companies to ensure full compliance with all FDA regulations, including all necessary steps for eventual global federal approvals.”

Earlier this month, Mydecine Innovations reached another exciting milestone by completing its first commercial harvest of 20 kilograms of psilocybin mushrooms at its research and cultivation facility in Jamaica. The company is now preparing to export the harvest to its Canadian cGMP Facility, which holds a Health Canada schedule 1 Dealer’s License, allowing for legal import.

Once Mydecine’s facility receives the psilocybin mushrooms, they will be extracted, refined, and turned into a cGMP product that can be used for controlled therapeutic purposes. The final product will be available for purchase by licensed institutions and companies conducting clinical research of these compounds to treat various health conditions like anxiety, addiction, depression, and PTSD. Portions of the harvest will also be kept for Mydecine’s proprietary genetic, pharmacology, and clinical research, including psilocybin-assisted psychotherapy to treat PTSD in veterans and frontline workers.

Another company looking to combat PTSD is Tonix Pharmaceuticals (NASDAQ:TNXP), although it isn’t using psychedelic compounds in its formulation like Mydecine. The company began studying TNX-601 (tianeptine oxalate) for the treatment of PTSD in September 2019. However, Tonix hit a speedbump in its Phase III RECOVERY study in February 2020 and decided to stop enrollment in the study following inadequate results. However, Tonix has since gone back to the drawing board and recently outlined a new statistical method to analyze future PTSD drug studies.

Growing Number of Psychedelic Companies Entering the Public Markets

The psychedelic drugs market is forecast to grow at a CAGR of 16.3% to reach $6.85 billion by 2027, fueled by the growing acceptance of psychedelic-derived meds to treat mental health coupled with the rising prevalence of mental disorders like depression and anxiety. Loosening legislation is also favoring the psychedelics market, leading to a growing number of psychedelic-focused pharma companies entering the public markets and bringing in investment dollars.

Integrated mental health company Numinus Wellness Inc. (NEO:NUMI) (TSXV:NUMI) (OTC:LKYSF) joined the TSX Venture Exchange in September 2020 after getting the green light from Health Canada to produce and extract psilocybin from mushrooms and closing an oversubscribed $4.6 million offering. In December, the company announced a $10 million bought deal offering, which was increased to $15 million two days later, and completed the first legal extraction of psilocybe mushrooms.

COMPASS Pathways Plc (NASDAQ:CMPS) also joined the public markets in September after closing an astounding $146.6 million initial public offering (IPO). The listing came nearly two years after the company was handed FDA Breakthrough Therapy designation for its psilocybin therapy for treatment-resistant depression. On November 12, Compass announced its Q3 results, highlighting the steady progress in its Phase IIb clinical trial of COMP360 psilocybin therapy for treatment-resistant depression and the opening of a new trial site in Berlin, Germany. The company also joined an international collaboration to accelerate drug discovery in mental health care.

Mydecine Innovations Group has also inked a partnership agreement this year with Applied Pharmaceutical Innovation to advance its research and development efforts for mental health care solutions. This partnership helps to put Mydecine ahead of the curve in this innovative market.

‍

Posted on

Numinus Completes First Extraction of its Psilocybe Mushrooms

Canada’s first legal extraction by a public company is a landmark moment for the global psychedelic-assisted psychotherapies landscape

VANCOUVER, BC, December 17, 2020 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of solutions centred on the research, development, and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapies, has completed the first legal extraction of Psilocybe mushrooms in Canada by a public company for research and development purposes. This follows Numinus’ successful completion of the cultivation and harvest of the first legal flush of Psilocybe mushrooms at Numinus Bioscience, the Company’s 7,000 square foot analytics and research laboratory.

“Completing the first legal extraction of Psilocybe mushrooms in Canada is a critical next step to providing a natural product for safe, evidence-based psilocybin-assisted psychotherapies to those in need,” said Payton Nyquvest, CEO, Founder, and Chairman. “Numinus continues to be a vanguard of positive change for the industry, and this announcement demonstrates our ability to deliver yet another first.”

Numinus Bioscience is establishing itself at the forefront of analytical testing for psychedelic substances, as a centre of excellence for psychedelic product research and development, and as an ancillary for psychedelic therapy clinical trials. Health Canada licences, scientific expertise, and state-of-the-art technologies facilitate ongoing innovation, while revenue from high-throughput contract cannabis testing is reinvested to further its psychedelic initiatives.

“This is an important milestone in our comprehensive research strategy, following our successful harvest announced in October,” said Sharan Sidhu, Science Officer and General Manager. “In the extraction process, Numinus Bioscience’s goal is to optimize Psilocybe mushrooms to standardize psilocybin and multiple therapeutically important components, increasing the efficacy of the extract. To further our position as a centre of excellence in the space, we are in the process of submitting amendments to supply the extract for use in clinical trials and the Special Access Programme, which, when accepted, will mark a significant move forward in scaling the delivery of psychedelic-assisted therapies.”

“While direct comparisons cannot be made, there is a clear recognition in the cannabis space that synthetic cannabinoids are far less attractive than naturally occurring cannabinoids,” indicated Dr. Evan Wood, Numinus’ Chief Medical Officer. “Numinus is of the view that, ultimately, nature knows best, and we’re excited to be at the forefront of exploring the fascinating world of working with Psilocybe mushrooms as part of a focused drug development program.”

This announcement follows Numinus’ advocacy work that contributed to 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. In addition, Numinus also recently announced the exciting acquisition of Montreal -based Mindspace Psychology Services Inc (DBA Mindspace Wellbeing) earlier this week, bringing together the capabilities of two leading Canadian organizations to develop and scale delivery of evidence-based psychedelic-assisted psychotherapy.

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 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.

###

ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.

Payton Nyquvest

President, Chief Executive Officer and Chair

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.

SOURCE Numinus Wellness Inc.

For further information:
Dana Harvey, Chief Communications Officer
media@numinus.ca

Posted on

16 healthcare professionals granted access to psilocybin

Canadian Government Agency Removes Barrier for Psilocybin Therapy

Health Canada removed a barrier for psilocybin research by allowing 16 health-care professionals to legally possess and consume psilocybin-containing mushrooms in clinical settings, the same exemptions previously given to more than a dozen terminally-ill patients. TheraPsil, a Victoria non-profit that aims to treat mental health issues with psilocybin, celebrates these exemptions, as they could lead to important new medical applications in the mental health sector.

PDF of article

Posted on

Numinus Wellness Announces National Expansion with Acquisition of Montreal-Based Mindspace Wellbeing, a Full-service Well-being Organization and Pioneer in Psychedelic Programming

The combination further enhances Numinus’ leadership position in evidence-based psychedelic-assisted psychotherapy and health solutions

VANCOUVER (December 15, 2020) – 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 pleased to announce the acquisition of Montreal-based Mindspace Psychology Services Inc (DBA Mindspace Wellbeing), a leader and pioneer in psychedelic programming. The agreement brings together the capabilities of two leading Canadian organizations to develop and scale delivery of evidence-based psychedelic-assisted psychotherapy to provide the highest quality patient outcomes.

“Adding Mindspace to the Numinus platform will provide strong synergies for both companies,” said Dr. Devon Christie, Medical Director at Numinus and a MAPS-trained therapist for the delivery of MDMA-assisted psychotherapy. “The companies have similar values and complementary strengths, which make this a strong corporate and cultural fit. We are also proud to grow our presence nationally through this announcement.”

“Joining the Numinus team is a natural choice,” said Dr. Joe Flanders, Founder and Managing Partner of Mindspace. “It’s an excellent opportunity for us to work closely with a partner that shares our vision and values. We are impressed by the depth and rigor of Numinus’ clinical team and their authentic commitment to finding meaningful, accessible, and sustainable solutions to the mental health challenges we collectively face”.

“We’re very excited to be bringing the Mindspace brand under the Numinus umbrella,” said Payton Nyquvest, CEO of Numinus. “The combination furthers our stated mission and delivers on our prospectus. This is a first and major step forward in our plan for global expansion of revenue-generating clinics and virtual therapy with the objective of health and wellness for all. Today’s announcement sets a positive trajectory for making psychedelic-assisted psychotherapy more accessible to those in need.”

The acquisition not only adds a Montreal presence to Numinus’ existing Vancouver location — with three established locations and extensive virtual services — but also brings the insight and expertise gleaned from a decade of successful client-facing clinic management. The family of clinics generated an average of 25 percent year-over-year growth over the past five years, including $1.7M in revenue generation over the past twelve months that is anticipated to grow with the newly launched ketamine-assisted therapy program. Mindspace will operate under the ‘Mindspace by Numinus’ brand under the continued leadership of founder Dr. Flanders. The Corporate Wellbeing practice of Mindspace is not included within this agreement and will continue offering its services under another brand soon to be announced.

About Psychedelic-Assisted Psychotherapy

Psychedelic-assisted psychotherapy (PAP) is gaining traction within the medical community and general public, as research results demonstrate its effectiveness for a range of mental health conditions. North American regulators have granted exceptions to fast-track their implementation, and whole communities vote for decriminalization and medical use. Just last week, in a global regulatory shift, Health Canada announced its intent to make MDMA and psilocybin therapy available through the Special Access Programme (SAP), pending sixty days of public consultation.

Numinus is a leader in the industry as the first public company in Canada to receive a licence to produce and extract psilocybin from mushrooms, the first to complete a legal harvest 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, psilocin, DMT, and mescaline.

The acquisition of Mindspace builds upon Numinus’ recently announced plans to embark upon an open-label compassionate access clinical trial of psilocybin-assisted psychotherapy for substance use disorders and its partnership with the Multidisciplinary Association of Psychedelic Studies (MAPS), a leading psychedelic education and research organization, to begin a similar trial of MDMA-assisted psychotherapy for PTSD. In line with Numinus’ objectives stated in the prospectus filed in September 2020, the Company’s Vancouver clinic is being renovated to administer the trials which will enable Numinus to develop the infrastructure around psychedelic-assisted psychotherapy, train its therapists, and implement, test, and refine optimal protocols for delivery even before these therapies are widely accessible. These trials, which will supply health and safety data to Health Canada, prepare the Company to deliver fully regulated psychedelic-assisted psychotherapy that translates research-driven best practices into publicly accessible treatments. With the addition of Mindspace, Numinus will be uniquely positioned to provide patients with MDMA and psilocybin-assisted psychotherapy under the expanded SAP revision based on its extensive work completed on developing protocols for psychedelic-assisted psychotherapy and its multiple locations.

About Dr. Joe Flanders

Mindspace Founder and Director “Dr. Joe” Flanders obtained his PhD in Clinical Psychology from McGill University and completed a postdoctoral fellowship at the University of Wisconsin–Madison. He also works as a psychologist and trains psychotherapists and mindfulness teachers through his position as an Assistant Professor (Professional) in the McGill University Psychology Department. Dr. Flanders appears frequently in the media as a mental health subject matter expert and is the host of the Mindspace podcast, which has more than 4,000 subscribers.

Terms of the agreement

Numinus will pay the following consideration to complete the Transaction:

 

I. $500,000 in cash upon closing of the Transaction

II. A time-based payout of 441,176 common shares of Numinus issued over the course of 24 months

III. $100,000 in Numinus Shares, issued Market Price, per year on each of the first three (3) anniversaries of the Closing Date

IV. A multi-year performance payout of $800,000 in Numinus shares, issued at Market Price.

The closing of the Transaction is subject to a number of conditions, including the approval of the TSX Venture exchange, and is expected to be completed by December 31, 2020.

###

On behalf of the board of Numinus Wellness inc.

Payton Nyquvest

President, Chief Executive Officer and Chair

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 Mindspace Wellbeing

Founded in 2011, Mindspace Wellbeing is a Montreal-based full-service well-being organization that began as a state-of-the-art psychology clinic with a focus on evidence-based approaches to mental health. Mindspace boasts exclusively PhD-level psychotherapists and is focused on evidence-based approaches to mental health.

In 2019, Mindspace launched its Psychedelic Harm Reduction and Integration programming, pioneering first-of-its-kind training in Canada for clinicians helping their clients work safely with psychedelics. In 2020, the company expanded its psychedelic offering to administer ketamine-assisted psychotherapy for treatment-resistant depression.

Mindspace has three Montreal locations that support more than 1,400 clients, through in-person and virtual services. Mindspace also hosts a podcast with more than 4,000 subscribers.

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

Posted on

Numinus Wellness commends Health Canada for its intent to make MDMA and psilocybin treatment available through the Special Access Programme

First-of-its-kind policy amendment will allow legal access to evidence-based treatments to those in need before formal drug approval

VANCOUVER (December 11, 2020) – 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, commends Health Canada’s leadership for its intention to revise the Special Access Programme (SAP) to permit access to MDMA and psilocybin-assisted psychotherapy. The intended SAP revision, announced today, will positively affect the lives of the many Canadians experiencing mental health conditions who have not responded to existing therapies.

Numinus’ leadership has worked to inform Health Canada and to advocate for an evidence-based revision of the SAP regulations. Health Canada’s announcement recognizes a growing body of research including a range of clinical trials that consistently highlight the potential patient benefit and breakthrough therapy status of MDMA and psilocybin-assisted psychotherapy for a large range of mental health conditions that are currently extremely difficult to treat with conventional therapies.

“Today’s announcement from Health Canada is a milestone for the entire healthcare industry and one that highlights our country’s commitment to making psychedelic-assisted psychotherapies an accessible reality for Canadians who have run out of options,” said Payton Nyquvest, Founder, Chief Executive Officer, and Chair of Numinus. “For the millions of Canadians who continue to live with mental illness: we see you, we hear you, and with today’s news, we look forward to a safe and accessible path to new ways of healing. We applaud Health Canada for taking this leadership position and commend the organizations and individuals who continue to advocate for this crucial change.”

“Revising the SAP to allow for the safe use of MDMA and psilocybin-assisted psychotherapy is a critical step to helping address the huge treatment gaps that exist for a range of mental illnesses and substance use disorders. Today, Health Canada has signalled a commitment to both patients graduating from formal trials, and individuals who have no other treatment options,” said Dr. Devon Christie, Medical Director at Numinus and a MAPS-trained therapist for the delivery of MDMA-assisted psychotherapy. “This intended change aligns with global ethical guidelines supporting early patient access to promising treatments in a safe and controlled setting.”

Adds Dr. Evan Wood, Numinus Chief Medical Officer, “Treating emerging therapies for mental health disorders differently than other investigational medications is not ethical or justifiable. Indeed, granting pre-approval access through the SAP enables care providers to gain critical experience with service delivery while also informing future Health Canada approval processes.”

View Numinus’ briefing note to Health Canada here.

The Health Canada Special Access Programme (SAP)

The Health Canada SAP was designed to allow Canadians access to new, potentially life-saving medications before they are formally approved for routine use in health care.

Historically, psychedelic medications have been ineligible for Special Access Programme applications. The proposed regulatory change will enable Canadian patients to apply for psychedelic therapies in a similar process to how other investigational medications are accessed prior to formal drug approval.

A substantial body of research, including the completion of a growing number of randomized clinical trials, has demonstrated that psychedelic-assisted psychotherapies using psilocybin and MDMA appear to be highly effective approaches for the treatment of a host of potentially life-threatening mental health conditions including treatment-resistant depression, posttraumatic stress disorder (PTSD), substance use disorders, and severe anxiety associated with terminal diagnoses.

In addition to allowing ongoing access for research participants after a clinical trial is complete, the SAP enables physicians to apply for access on behalf of qualifying Canadians who were not research participants.

Public Consultation

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 extensive work completed on developing 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 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.

###

On behalf of the board of Numinus Wellness inc.

Payton Nyquvest

President, Chief Executive Officer and Chair

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.

SOURCE Numinus Wellness Inc.

For further information:

Dana Harvey,

Chief Communications Officer

Numinus Wellness Inc

media@numinus.ca

Posted on

BETTER PLANT AFFILIATE NEONMIND ANNOUNCES FILING OF FINAL PROSPECTUS IN CONNECTION WITH AN INITIAL PUBLIC OFFERING

Vancouver, B.C. – December 10, 2020: Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) announces that on December 9, 2020 its majority owned subsidiary NeonMind Biosciences Inc. (“NeonMind“) obtained a receipt for a final prospectus for an initial public offering (the “NeonMind IPO”) for the sale of up to 46,000,000 units at $0.10 per unit (the “Units”) to generate gross proceeds of up to $4,600,000, in conjunction with a conditional approval for listing on the Canadian Securities Exchange (the “Exchange”). The Units are being offered for sale to the public in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario through NeonMind’s agent, Mackie Research Capital Corporation.

 

No securities in Better Plant are being sold as part of the NeonMind IPO offering. The listing of NeonMind on the Exchange will not affect the listing of Better Plant and Better Plant’s common stock will continue to trade on the Exchange under the ticker symbol “PLNT”, and continue to trade on the OTCQB under the ticker symbol “VEGGF”.

 

The NeonMind IPO is subject to a minimum subscription of 20,000,000 Units (the “Minimum Subscription Amount”). The Exchange granted NeonMind conditional approval to its common shares for trading on the Exchange, subject to a number of conditions, including raising the Minimum Subscription Amount. Each Unit will consist of one common share in the capital of NeonMind (a “NeonMind Share”) and one share purchase warrant to purchase one additional NeonMind Share of NeonMind at a price of $0.20 per share for a period of 12 months from the closing of the NeonMind IPO. Upon the successful completion of the NeonMind IPO and subject to regulatory approval, it is anticipated that NeonMind Shares will be listed for trading on the Exchange under the stock symbol “NEON”. Better Plant currently owns 33,313,500 NeonMind Shares out of 66,430,500 NeonMind Shares currently issued and outstanding. Better Plant also owns 55,000,0000 warrants (the “NeonMind Warrants”) to purchase NeonMind Shares at $0.20 per share until May 6, 2022. The NeonMind Shares and NeonMind Warrants owned by Better Plant are subject to an escrow agreement whereby the securities will be released in tranches over a 35 month period, beginning 30 days after the date NeonMind’s common shares begin to trade on the Exchange. Currently, Better Plant owns approximately 50.1% of the outstanding and issued NeonMind Shares. Under the NeonMind IPO, up to an additional 46,000,000 NeonMind Shares could be issued, assuming the over-allotment option is exercised, resulting in up to 112,430,500 NeonMind Shares issued and outstanding, which could reduce Better Plant’s ownership percentage in NeonMind to as low as 29.6%. There is no guarantee that NeonMind will achieve the Minimum Subscription Amount required to complete the NeonMind IPO.

 

NeonMind is developing products that contain legal medicinal mushrooms and it is engaged in preclinical research into potentially therapeutic uses of compounds found in psychedelic mushrooms. NeonMind has filed 5 US 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 analogs or by administering psilocybin or its analog in conjunction with therapy or other treatments. NeonMind’s long-term goal is to develop one or more products that incorporate restricted psychedelic substances to treat illness, with its product candidate being developed to treat obesity and promote or cause weight loss.

 

More information on NeonMind and the NeonMind IPO can be found in NeonMind’s final prospectus which is available on SEDAR at www.sedar.com under issuer information for NeonMind Biosciences Inc.

 

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities under the IPO have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account of benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in any jurisdiction in which the offering or sale is not permitted.

 

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 our 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 75 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 51% of NeonMind.

 

For more information about Better Plant, visit betterplantsciences.com or follow @betterplantsciences on Instagram. Buy Jusu plant-based home and body products at getjusu.com and buy plant-based Urban Juve skin care products at urbanjuve.com.

 

Investor Relations Contact:

Penny White, President & CEO

Ali Dumanski, Director of Investor Relations

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.

Posted on

Psychedelic Quick Hits: Havn Life, MindMed, Mydecine

Published at GreenMarketReport.com

‍

Mydecine Innovations

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) announced that it has completed its first commercial harvest of 20 kilograms of psilocybin mushrooms at its research and cultivation facility in Jamaica. The company said it is now preparing to export the harvest to its Canadian cGMP Facility which has a Health Canada schedule 1 Dealer’s License attached to it, allowing for legal import.

“We are pleased to announce the completion of our first commercial harvest of natural psilocybin mushrooms,” said Joshua Bartch, CEO and Chairman of Mydecine. “There is more research needed on these compounds in order to better understand the entourage effect experienced by patients which has shown dramatically effective results compared to single-molecule synthetic psilocybin in preliminary studies. As the industry grows, the need for naturally occurring psilocybin and access to large quantities of these molecules will be paramount and we are excited to be the first to advance this movement at scale.”

Mydecine said that its final product will be made available for purchase by other licensed institutions and companies conducting clinical research into the efficacy of these compounds to treat various health conditions including anxiety, addiction, depression and PTSD. Portions of the harvest will also be used for Mydecine’s proprietary genetic, pharmacology, and clinical research. The clinical use will be for the studies and developing protocols of psilocybin-assisted psychotherapy to treat PTSD in veterans and other frontline workers.

MindMed

Mind Medicine Inc. (NEO: MMED) (OTCQB: MMEDF) has filed a final short form prospectus with the securities commissions or similar authorities in each province of Canada, other than Québec with regards to a previously announced bought deal. The company’s underwriters have agreed to purchase 15,800,000 units of MindMed, on a “bought deal” basis, at a price per Unit of $1.90 for gross proceeds of $30,020,000.

The company said it has also granted the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional $4,503,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be $34,523,000.The Offering is scheduled to close on or about December 11, 2020.

Havn Life

Havn Life Sciences Inc. (CSE:HAVN) has signed a Memorandum of Agreement with the international veteran’s organization, Heroic Hearts Project. Heroic Hearts is a registered 501(c)(3) nonprofit organization founded in the United States that connects military veterans struggling with mental trauma, to psychedelic therapy options including ayahuasca, psilocybin, and ketamine. Heroic Hearts also provides support and professional counseling to these veterans throughout the process. These veterans typically have tried all the available resources offered by the Department of Veteran Affairs with limited success leaving them with very few options. Heroic Hearts currently has branches across the United States, Canada, and the United Kingdom.

“This collaboration between Havn Life and Heroic Hearts has the potential to make an extraordinary impact on the mental health and wellness of military veterans,” said Susan Chapelle, EVP of Research and Development at Havn Life. “Under the agreement, Havn Life will supply products and compounds to be used in Heroic Hearts’ future clinical studies that will investigate the effects of low-dosage psychedelic compounds on veterans suffering from emotional trauma and PTSD. This progressive research will help develop clinical trial formulations to aid in the recovery of PTSD and other trauma-related disorders. We look forward to working closely with veterans and others with military backgrounds.”

‍