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Numinus Announces Filing of Final Short Form Prospectus for Offering of up to $4,000,000

Numinus Wellness Inc. (“Numinus” or the “Company“) (TSXV: NUMI), a company creating an ecosystem of health solutions centred on developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted therapies, is pleased to announce it has filed a final short form prospectus (the “Prospectus“) dated September 1, 2020 in connection with its previously announced best-efforts offering. The Prospectus offers up to 16,000,000 units (the “Units“) at a price of $0.25 per Unit for gross proceeds of up to $4,000,000 (the “Offering“) in the offering jurisdictions of British Columbia, Alberta and Ontario. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole such warrant, a “Warrant“). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.35 per common share for a period of two years from issuance. On closing of the Offering, the Warrants will be issued under a warrant indenture between the Company and Computershare Trust Company of Canada.

Mackie Research Capital Corporation (the “Agent“) has agreed to act as lead agent and sole bookrunner, on a best efforts basis, in respect of the Offering, and Numinus and the Agent have entered into an agency agreement in respect of the Offering. The Company has granted the Agent an option (the “Agent’s Option“) exercisable by delivering a written notice of its exercise of part or all of the Agent’s Option to the Company at any time up to 48 hours prior to Closing (the “Closing“) to increase the size of the Offering by up to 15% in Units.

The Prospectus contains important information relating to the Offering. For more information, potential investors should read the Prospectus, which is available on the Company’s SEDAR profile at www.sedar.com. There will not be any sale or acceptance of an offer to buy the Units until a receipt for a final Prospectus has been issued.

The Offering is expected to close on or about September 10, 2020 and is subject to customary closing conditions contained in the agency agreement. The Company has received conditional approval of the Offering from the TSX Venture Exchange, and for the listing of the common shares comprised within the Units, the common shares issuable on exercise of the Warrants and common shares associated with compensation to the Agent. The Company intends to use the net proceeds of the Offering for MDMA and psilocybin Compassionate Access protocol implementation, to make these drugs accessible to specific patient groups before they are available on the market, as more particularly described in the Prospectus. Additional funds will be used to secure therapy space and develop psychedelic integrative treatment models, support upgrades to its Lab infrastructure to support its Health Canada licences, and for general operating expenses, as more particularly described in the Prospectus.

About Numinus
Numinus is a Vancouver-based health care company creating an ecosystem of health solutions centred around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted therapies. Numinus’s ecosystem units include Numinus Bioscience, Numinus R&D, and Numinus Health. Each unit is undertaking distinct, synergistic initiatives to hasten approved access to psychedelic-assisted therapy models in Canada and position Numinus as a trusted industry leader for the eventual regulated rollout of these therapies once available. Numinus Bioscience includes a 7,000 square foot research and testing laboratory as well as numerous Health Canada licenses (through its wholly owned subsidiary Salvation Botanicals), including a cannabis testing license which provides established and growing revenue. It is also a late-stage applicant for cannabis processing. Additionally, the Company holds a dealer’s licence which allows it to import, export, possess, and test MDMA, psilocybin, psilocin, DMT, and mescaline, and it is the first publicly listed company in Canada to be issued a Health Canada license to produce and extract psilocybin from mushrooms for the purpose of developing proprietary extraction methods. These licences will allow Numinus to support the growing number of studies on the potential benefits of psychedelic therapies through research projects, product development, and the supply and distribution of these substances. Numinus R&D leverages established relationships to position the Company for partnerships to host studies, develop medical and therapeutic protocols, and influence regulatory approval. Numinus Health, with one clinic already prototyping systems for efficiency and profitability, is dedicated to delivering therapies that enhance and supplement existing options—centred around psychedelic-assisted therapies when and where regulated—for people wanting lasting physical, mental, and emotional health. For more information, visit www.numinus.ca.

ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.

Payton Nyquvest
President, Chief Executive Officer and Chair

Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, and on the Company’s website.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Offering. This news release contains “forward–looking statements“ within the meaning of Canadian securities legislation. Forward–looking statements include, but are not limited to, statements with respect to the closing of the Offering and the expected use of proceeds of 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.

SOURCE Numinus Wellness Inc.

For further information: Stacey Wallin, Chief Strategy Officer, 1.833.686.4687

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BETTER PLANT SCIENCES ADDS ECOMMERCE SALES OF 200 PLANT-BASED PRODUCTS THROUGH AGREEMENT WITH JUSU

Vancouver, BC – September 1, 2020: Better Plant Sciences Inc. (CSE:PLNT) (OTCQB:BOSQF) (FE:YG3) (“Better Plant”) or (the “Company”)

announces that it has signed an eCommerce lease agreement on August 31, 2020 to take over the day-to-day sales of all Jusu Life and Jusu Body products, commencing today. The eCommerce lease agreement, along with an inventory purchase, will allow Better Plant to book revenues from all eCommerce and wholesale sales of over 200 JUSU plant-based products for body, baby and home as of September 1, 2020.  The Company plans to complete the acquisition of other JUSU assets, as announced August 18, 2020, over the next few months.

 

Pursuant to the eCommerce lease agreement, Better Plant has taken over the management of JUSU direct eCommerce, Amazon and wholesale distribution, with the aim to optimize and grow JUSU’s direct-to-consumer, eCommerce sales. The Company is purchasing certain existing inventory for a fee of $25,000 and will also purchase all future inventory to fulfill all sales at a 35% discount to the consumer price of the products.

 

“Currently, thanks to JUSU’s loyal customer base, its product sales revenues currently sit at approximately $40,000 in monthly sales with a return eCommerce customer rate of 28%. This does not include juice sales or other revenue from JUSU Bar, and no money has been spent on advertising to date to generate these sales. We believe that we can increase revenues significantly by leveraging enhanced digital marketing programs and influencer marketing,” said Gabriel Villablanca, Better Plant’s Director of eCommerce and Digital Marketing.

 

The Company plans to launch an extensive influencer marketing campaign with a focus on micro-influencers in North America for JUSU, leveraging Urban Juve’s existing network of influencers. The program will involve a large volume of partnerships using a combination of affiliate, contesting, and content-based programs. The Company also plans to increase efforts related to customer engagement to leverage its current customer base to increase customer lifetime value. This will include email and text-based marketing to upsell and encourage repeat purchases, and will also include expanded product offerings such as bundles and subscription models.

 

“With more people staying at home and with the increased awareness around health, immunity, and wellness, there is an opportunity to build JUSU’s direct-to-consumer business of plant-based home, body and baby products,” added Villablanca. “We want to become a customer-first organization that makes its decisions based on data and what’s good for the customer. Using data, we will ensure we have the right products for our customers, at the right time, as well as use it to influence further product launches. Data will drive our decisions enabling us to make better choices, provide better products, and be a better company to our loyal customers.”

 

CCInsights.org reported that U.S. eCommerce year-over-year revenue growth was up 68% as of mid-April, surpassing a 49% peak in early January. It was also reported that there was 129% year-over-year growth in U.S. and Canadian eCommerce orders as of April 21, as well as 146% growth in all online retail orders.

 

About Better Plant Sciences Inc.

Better Plant develops and acquires intellectual property and other assets related to plant-based products and therapeutics. Through its integrated business model, Better Plant develops, manufactures, markets, sells and distributes a large variety of innovative plant-based products. It has 14 patent applications to protect its Intellectual Property, and over 200 proprietary wellness formulas at various stages of commercialization, including over 20 proprietary products that are now for sale via eCommerce or brick and mortar retail stores. It operates websites and oversees e-commerce and Amazon sales for over 200 JUSU plant based products for body, baby and home. Its majority-owned subsidiary NeonMind Biosciences Inc. is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied to Health Canada for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents.

Penny White, President & CEO

 

Investor Relations Contact:

Kevan Matheson, 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 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 the Coronavirus, 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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BETTER PLANT SCIENCES ANNOUNCES WEBSITE LAUNCH AND STRATEGIC PLAN TO GROW DIRECT-TO-CONSUMER SALES

Vancouver, BC – August 27, 2020: Better Plant Sciences Inc. (CSE:PLNT) (OTCQB:BOSQF) (FE:YG3) (“Better”) or (the “Company”)

is pleased to provide an update on the Company’s strategic plan to grow its direct-to-consumer eCommerce sales. This includes the re-launch of the company website, pending acquisition of all JUSU web properties, the launch of an extensive influencer marketing campaign, and a new addition to the team, Gabriel Villablanca, who will serve as the Company’s Director of Ecommerce and Digital Marketing.

 

“We are thrilled to have launched the Better Plant Sciences website that showcases our new branding and better communicates our strategic direction. Our messaging and mission are in strong alignment, and we believe that this will help to drive interest and loyalty from our target customers,” said Tamara Melck, COO of Better.

 

The Company is also pleased to welcome Gabriel Villablanca as its new Director of Ecommerce and Digital Marketing. He has over 15 years of experience in digital marketing and has the distinction of having worked very successfully with multiple brands simultaneously under a single parent company. Most recently, he served for 6 years as the digital marketing director for O2E Brands, the umbrella company of 1-800-GOT-JUNK?, WOW 1 DAY PAINTING and Shack Shine.

 

Gabriel has taken the lead on Urban Juve’s expanded influencer program, in which Urban Juve will partner with skincare and wellness influencers, with a focus on micro-influencers in North America, seeking out a large volume of partnerships. The influence of this group is increasing and tends to show higher conversion rates because these influencers actually act and live like their peers, which creates a more authentic connection than what is possible with those influencers that have followers in the millions. The program is well under development with a combination of affiliate/discount, contesting, and content-based partnerships. Further, following the successful acquisition of JUSU-branded online properties, the Company plans to apply these same strategies to all JUSU branded properties as well to bolster its sales.

 

“This is the next crucial step in our strategy to drive increased online purchases of our products. The launch of our optimized ecommerce store, urbanjuve.com, was the prerequisite needed to allow for traffic-generation efforts to be put in place, the first of which is a curated influencer program,” said Gabriel Villablanca, Director of Ecommerce at Better. “We plan to employ an ‘always on’ influencer strategy for Urban Juve that is executed continuously throughout the year.”

 

Authentic content generation by influencers and the sales they drive will complement a digital marketing program inclusive of retargeting and other forms of paid digital media to drive awareness for the brand.

 

According to Forbes, just 1% of millennials trust classic advertisements; however, 33% of this same group trust blog reviews. Further, 40% of millennials reported that they had purchased a product online after seeing it used by an influencer on YouTube, Instagram or Twitter.

 

About Better Plant Sciences Inc.

Better develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has 14 patent applications to protect its formulas and over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale via e-commerce or brick and mortar retail stores. It has signed an agreement to acquire JUSU branded plant-based assets from JUSU Bar, JUSU Body and JUSU Cbd, and expects to complete the acquisition this fall. The acquisition includes all inventory, packaging, raw ingredients, and intellectual property related to 300 plant-based products as well as the e-commerce sites where those products are sold. Its majority-owned subsidiary NeonMind Biosciences Inc. is engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and is developing a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms.

 

Investor Relations Contact:

Kevan Matheson, 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 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 the Coronavirus, 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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BETTER PLANT SCIENCES SUBMITS APPLICATION FOR AYURVEDIC SKIN OINTMENT TO COMBAT INFECTIOUS DISEASE

August 25,  2020 – Vancouver, BC: Better Plant Sciences Inc. (CSE:PLNT) (OTCQB:BOSQF) (FE:YG3) (“Better”) subsidiary Urban Juve Provisions Inc. (“Urban Juve”) announces that it has conducted research and development into plant-based topical products that fight against or prevent infectious diseases leading to the submission of a Natural Health Product (“NHP”) application for a plant-based, antiseptic skin ointment to Health Canada to obtain an NHP number for the product.

 

“This plant-based skin ointment was developed using the principles of Ayurveda. We have spent the last six months working to identify the plants with the most active compounds with antibacterial and antiviral properties,” says Bhavna Solecki, Director of Research and Product Development at Better Plant Sciences. “We are very pleased with the resulting plant-based antiseptic skin repair and healing ointment formula we have developed to be used to help heal minor skin wounds, cuts, burns, and bruises.”

 

According to the Natural Health Products Regulations, compendial product license applications such as this are processed within 60-days of receipt.

 

GM Insights reported that the global wound care biologics market was worth US$ 1.40 Billion in 2018 and is expected to reach a value of US$ 2.5 billion by 2025 with a CAGR of around 9%. Wound care biologics refer to drugs extracted or semi-synthesized from natural sources which are used for controlling and healing infections.

 

The Better Plant Sciences research and development team focused on using polyherbal combinations, which use a group of plants to achieve an effective therapeutic effect. In Ayurveda, most classical preparations are polyherbal, involving a combination of 3 to 30 plants that are combined in precise ratios to achieve the desired result.

 

“During the compounding process, one or two of the plants will be active and the others play a supporting role. The supporting herbs have different therapeutic values calculated for different purposes, which act as catalysts to help proper absorption, transportation, and to reduce toxicity,” added Solecki.  “We use spices because the phytochemicals within spices are secondary metabolites, which serve to protect against damage by insects, animals, fungi, pathogens, and parasites.”

 

About Better Plant Sciences Inc.

Better develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has 14 patent applications to protect its formulas and over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale via e-commerce or brick and mortar retail stores. It has signed an agreement to acquire JUSU branded plant-based assets from JUSU Bar, JUSU Body and JUSU Cbd, and expects to complete the acquisition this fall. The acquisition includes all inventory, packaging, raw ingredients, and intellectual property related to 300 plant-based products as well as the e-commerce sites where those products are sold. Its majority-owned subsidiary NeonMind Biosciences Inc. is engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and is developing a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms.

 

Investor Relations Contact:

Kevan Matheson, 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 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 the Coronavirus, 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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MindMed Announces First-Ever Clinical Trial Combining MDMA and LSD

NEW YORK, Aug. 25, 2020 /PRNewswire/ — Mind Medicine (MindMed) Inc. (NEO: MMED, OTCQB: MMEDF), the leading neuro-pharmaceutical company for psychedelic inspired medicines and the University Hospital Basel’s Liechti Lab are now combining MDMA and LSD in a groundbreaking Phase 1 clinical trial. The Phase 1 MDMA-LSD trial is scheduled to start in Q4 of this year in Basel, Switzerland.

Combined MDMA-LSD treatments have the potential to create next-generation psychedelic assisted therapy paradigms. When added to a psychedelic assisted therapy session, MDMA has the potential to reduce some known rare negative side effects that may occur while using LSD or other classic psychedelics on their own. It has been shown that classic psychedelics such as psilocybin and LSD can sometimes induce short-term unpleasant effects for patients during a psychedelic assisted therapy session. These symptoms may include negative thoughts, rumination, panic and paranoia.

MDMA, an empathogen, is known to acutely induce feelings of increased well-being and trust. By combining LSD and MDMA within the same session, the Liechti Lab and MindMed are evaluating if the combination produces greater overall positive acute effects when compared to LSD or MDMA on their own. MDMA may reduce some of the negative mood effects of LSD and make the patient more comfortable during psychedelic-assisted therapy.

University Hospital Basel’s Liechti Lab’s Dr. Matthias Liechti stated: “The potential of MDMA-LSD is to create a psychological state that may have the benefits of both substances and have longer lasting effects than standalone psilocybin or LSD. Inducing an overall primarily positive acute response during psychedelic assisted therapy is critical because several studies showed that a more positive acute experience is linked to a greater therapeutic long-term effect in patients.”

MindMed is interested in understanding how to balance these compounds in a cohesive way to create better patient outcomes and develop more advanced psychedelic assisted therapies as it expands both its R&D and commercial drug development pipeline.

President of MindMed, Dr. Miri Halperin Wernli added, “A new treatment paradigm combining MDMA and LSD may enhance the positive effects of LSD by inducing a positive psychological state with MDMA which is an empathogen to help counteract some known negative or less positive aspects of LSD or psilocybin. With this innovative treatment paradigm, we are looking to bring the participants outside the bounds of their everyday perceptions, bringing their mind into a very flexible state of mind facilitating new states of consciousness. This will provide the opportunity to step outside their usual sense of self and experience themselves from a radically different and new perspective.”

The Phase 1 Clinical Trial is intended to take around one year to complete.  If MindMed finds the results promising, the company may decide to undertake further studies with treatments combining MDMA and LSD, and prepare patient trials for various indications.

More details on the Phase 1 trial can be found here : https://clinicaltrials.gov/ct2/show/NCT04516902

About MindMed

Mind Medicine (MindMed) Inc. is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic-inspired medicines to improve health, promote wellness and alleviate suffering. The company has initiated or is initiating studies to evaluate potential treatments to help patients with ADHD, anxiety, cluster headaches and substance abuse. The MindMed executive team brings extensive biopharmaceutical industry experience to this groundbreaking approach to the development of next-generation psychedelic medicines. MindMed trades on the NEO Exchange under the symbol MMED. MindMed can also be traded in the US under the symbolOTCQB: MMEDF and in Germany under the symbol DE:MMQ. For more information: www.mindmed.co.

MindMed Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties relating to future events and performance of Mind Medicine (MindMed) Inc. (“MindMed”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, MindMed’s and its collaborators’ ability to continue to conduct research and clinical programs, MindMed’s ability to manage its supply chain, product sales of products marketed by MindMed and/or its collaborators (collectively, ” Products”), and the global economy; the nature, timing, and possible success and therapeutic applications of Products and Product candidates and research and clinical programs now underway or planned; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Product candidates and new indications for Products; unforeseen safety issues resulting from the administration of Products and Product candidates in patients, including serious complications or side effects in connection with the use of MindMed’s Products and product candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict MindMed’s ability to continue to develop or commercialize Products; ongoing regulatory obligations and oversight impacting Products, research and clinical programs, and business, including those relating to patient privacy; uncertainty of market acceptance and commercial success of Products and Product candidates and the impact of studies on the commercial success of Products and Product candidates; the availability and extent of reimbursement of Products from third-party payers, including private payer healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; competing drugs and product candidates that may be superior to Products and Product candidates; the extent to which the results from the research and development programs conducted by MindMed or its collaborators may be replicated in other studies and lead to therapeutic applications; the ability of MindMed to manufacture and manage supply chains for multiple products and product candidates; the ability of MindMed’s collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labelling, distribution, and other steps related to MindMed’s Products and product candidates; unanticipated expenses; the costs of developing, producing, and selling products; the ability of MindMed to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license or collaboration agreement to be cancelled or terminated without any further product success; and risks associated with intellectual property of other parties and pending or future litigation relating thereto, other litigation and other proceedings and government investigations relating to MindMed and its operations, the ultimate outcome of any such proceedings and investigations; and the impact any of the foregoing may have on MindMed’s business, prospects, operating results, and financial condition. Any forward-looking statements are made based on management’s current beliefs and judgment. MindMed does not undertake any obligation to update publicly any forward-looking statement.

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Field Trip Psychedelics Inc. Announces Closing of $11.0 million Financing, Entry into Amalgamation Agreement with Newton Energy Corporation

Both events important milestones to highly anticipated public listing

TORONTO, Aug. 24, 2020 /PRNewswire/ — Field Trip Psychedelics Inc. (“Field Trip” or the “Company“), the company redefining mental health and well-being through its ground-breaking work in psychedelics and psychedelic-enhanced psychotherapy, today announced it has closed the first tranche of its Series B financing (the “Financing“), raising gross proceeds of $11.0M from a broad base of investors. The Financing was completed through a brokered private placement for which Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. jointly acted as lead agents.

The proceeds from the Financing will be used to continue Field Trip’s rollout of its Field Trip Health centers across North America, which are providing best-in-class psychedelic assisted psychotherapy, and to further advance its pioneering work with its next generation psychedelic molecule, FT-104, and its advanced research and development on psilocybin producing mushrooms in partnership with the University of West Indies.

The Company recently announced the opening of the New York location of its Field Trip Health centers, following the opening of its Toronto location earlier this year, and will shortly be announcing the opening of its Santa Monica location.

Ronan Levy, Executive Chairman of Field Trip Psychedelics, said, “Our ability to secure this private placement validates the strength of our business strategy, brand and the incredible team of physicians, psychologist, therapists, scientists and employees at Field Trip. It is also reflective of the rapidly increasing interest in the investment community in the science of psychedelics compounds and their incredible potential across a number of applications. Securing these funds strengthens our balance sheet and provides us with capital to execute against these growth plans.”

Sean Trigony, CEO and Founder of Los Angeles-based Seven Hound Ventures, which participated in the financing, said: “Field Trip’s management team has a strong track record of establishing and growing medical clinics, and the science team behind Field Trip Discovery is unparalleled. We are excited to see them applying this experience to the emerging psychedelics industry, building both the infrastructure needed to deliver treatments, as well as the next generation of psychedelic molecules targeting 5HT2A receptors.”

Amalgamation Agreement with Newton Energy Corporation

The Company also announced that it has entered into a definitive agreement dated August 21, 2020 (the “Amalgamation Agreement“) with Newton Energy Corporation (“Newton“) (TSXV: NTN.H) and Newton’s wholly-owned subsidiary, Newton Energy Subco Limited (“Newton Subco“), pursuant to which the parties intend to complete a going-public transaction for Field Trip (the “Transaction“).

The going-public Transaction is structured as a three-cornered amalgamation, which will result in Field Trip becoming a wholly-owned subsidiary of Newton by amalgamating with Newton Subco, and the security holders of Field Trip becoming security holders of Newton. In connection with the completion of the Transaction, it is intended that Newton will change its name to “Field Trip Health Ltd.” (the “Resulting Issuer”). The Amalgamation Agreement will be made available on SEDAR at www.sedar.com.

Field Trip and Newton anticipate the closing of the Transaction (the “Closing”) will occur on or about September 29, 2020. The Transaction is subject to the receipt of all necessary regulatory and shareholder approvals as well as the satisfaction of conditions to the Closing as set out in the Amalgamation Agreement.

“As pioneers in developing an entirely new industry in a profoundly transformative therapeutic modality, access to capital will be one of the key characteristics that distinguishes the leaders in the psychedelics industry,” added Levy. “Our team has demonstrated great success in raising capital to date, and our public listing will provide us with more diverse financing options that will ensure our continued success and further lower our cost of capital.”

About Field Trip Psychedelics Inc.

Field Trip is the world’s first mental wellness company at the forefront of the scientific re-emergence of psychedelics and psychedelic-enhanced therapies. With Field Trip Health centres opening across North America and advanced research on plant-based psychedelics through Field Trip Discovery, we help people from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.

Learn more at https://fieldtriphealth.com

Forward Looking Statements

This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.

SOURCE Field Trip Psychedelics Inc.

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The Chopra Foundation and MindMed Enter Into Letter of Intent to Partner on the Future of Psychedelic Medicines & Mental Wellbeing

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) (“MindMed” or the “Company”), a leading clinical stage psychedelic medicine company, today announced it has entered into a letter of intent to partner with The Chopra Foundation to educate and build public awareness around the use of psychedelic medicines to treat mental illness, remove outdated stigmas, and ultimately research mental wellbeing approaches that can be used in psychedelic related psychotherapy.

Deepak Chopra pictured with MindMed CEO, JR Rahn during MindMed's Nasdaq Listing
Deepak Chopra pictured with MindMed CEO, JR Rahn during MindMed’s Nasdaq Listing

The two organizations plan to design and conduct research together surrounding altered states of consciousness, psychedelic psychotherapy, and their overall impact on mental wellbeing. Beyond psychedelics, as part of this research, MindMed intends to explore ways for therapists to integrate evidence-based digital therapeutics and digital measurement technology into their routine practice. In addition, MindMed and the Chopra Foundation plan to advance research that targets understanding the role that the mind-body connection, metabolic health, psychedelics, and deeper understandings of consciousness can play into maintenance of overall wellbeing and mental health.

“Deepak is a thought leader on consciousness, integrative medicine, and wellness. We hope that this letter of intent will allow The Chopra Foundation and MindMed to pioneer new modalities that go beyond the treatment of mental illness to also focus on our overall well being, both mental and physical” said J.R. Rahn, CEO and Co-founder of MindMed. “Ultimately, we believe psychedelics can act as catalysts in a person’s journey toward their best health, but it is also important that we come to deeply understand consciousness and altered states of consciousness as we advance the growing field of psychedelic medicine through rigorous research.”

May, as Mental Health Awareness month, is also a time to remember that there has not been a transformative breakthrough in mental healthcare in the United States in decades. America is facing a mental health crisis and is in dire need of innovative treatment solutions. One in five American adults endure the pain of mental illness each year, while less than half of those in need receive treatment. MindMed is aiming to solve the broad problems of anxiety, depression, substance use disorders, and pain syndromes through the careful study and clinical application of psychedelic medicines and digital therapeutics.

“The Chopra Foundation is dedicated to improving the health and well-being of humanity. Mental illness and psychedelics for far too long have been associated with unnecessary stigmas. It’s time we shift our thinking and change the conversation in order to positively address the needs of mental health and wellbeing.” stated Dr. Deepak Chopra, founder of The Chopra Foundation.

Chopra and Rahn will also be speaking together on the role of psychedelic medicines in treating mental health and wellbeing at the Never Alone Summit on Friday, May 21st.

About The Chopra Foundation

The Chopra Foundation is a 501 (c) (3) organization (#36-4793898) dedicated to improving health and well-being, cultivating spiritual knowledge, expanding consciousness, and promoting world peace to all members of the human family. For more information, go to www.choprafoundation.org.

About MindMed

MindMed is a clinical-stage psychedelic medicine biotech company that seeks to discover, develop and deploy psychedelic inspired medicines and therapies to address addiction and mental illness. The Company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC.

MindMed trades on the NASDAQ under the symbol MNMD and on the Canadian NEO exchange under the symbol MMED. MindMed is also traded in Germany under the symbol MMQ.

Forward-Looking Statements

Certain statements in this news release related to the Company constitute “forward-looking information” within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “will”, “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”, “potential” or “continue”, or the negative thereof or similar variations. Forward-looking information in this news release include statements regarding the letter of intent, the intention to educate and build public awareness around the use of psychedelic medicines, the plan to design and conduct research, the intention to explore integration of digital therapeutics and digital biomarkers, plan to advance research, and the Company’s intended future business plans and operations, including the development of psychedelic inspired medicines and experiential therapies. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information, including the letter of intent is non-binding and there is a risk that the Company will not be able to negotiate a definitive agreement with The Chopra Foundation; risk associated with early-stage research programs; history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; lack of product revenue; compliance with laws and regulations; difficulty associated with research and development; risks associated with clinical trials or studies; heightened regulatory scrutiny; early stage product development; clinical trial risks; regulatory approval processes; novelty of the psychedelic inspired medicines industry; as well as those risk factors discussed or referred to herein and the risks described under the headings “Risk Factors” in the Company’s filings with the securities regulatory authorities in all provinces and territories of Canada which are available under the Company’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results and future events could differ materially from those anticipated in such information. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend and does not assume any obligation to update this forward-looking information.

Media Contact: mindmed@150bond.com

SOURCE Mind Medicine (MindMed) Inc.

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NEONMIND READY TO LAUNCH FOUR MUSHROOM COFFEE BLENDS

August 20,  2020 – Vancouver, BC: Better Plant Sciences Inc. (CSE:PLNT) (OTCQB:BOSQF) (FE:YG3) (“Better Plant”) announces that subsidiary NeonMind Biosciences (“NeonMind”) has completed final product development for four unique Ayurveda-inspired and botanical-enhanced mushroom coffee blends which are now moving into the mixing stage with a co-packer.

The coffees are fair trade and organic, with Ayurvedic organic botanicals and organic mushroom extracts. Each is formulated with adaptogenic, immune-boosting medicinal mushrooms that are antioxidant and nutrient-rich. The formulas contain special blends of reishi, cordyceps, lion’s mane and turkey tail mushrooms, all of which are widely regarded for their health benefits.

“Four unique blends will be available: two instant mushroom coffee blends and two roasted coffee blends. Functional mushrooms are booming in popularity as a supplement to boost immunity and brain function,” said Penny White, CEO of Better Plant.

According to Data Bridge Market Research, the global medicinal mushroom market is expected to reach US$78.7 billion by 2025, from US$38.1 billion in 2017 growing at a CAGR of 9.5% during the forecast period of 2018 to 2025.

“We worked directly with Ayurveda botanical companies in India that are fair trade to source the highest quality ingredients,” said Bhavna Solecki, Director of Research and Product Development at Better Plant. “Fair trade is important to us because we want to support producers in developing countries and contribute to building sustainable communities.”

The coffees will contain Ayurvedic botanical ingredients such as holy basil, which naturally decreases anxiety; moringa, which acts as an antiviral and antidepressant; gotu kola, which reduces anxiety and stress while improving circulation, and amla; a potent fighter against bacteria and viruses.

All four blends have been sent to a third-party lab for nutritional facts testing as per Health Canada regulations for functional foods. This will test for things such as: moisture, nutrition labeling, fat and fat composition, protein, carbohydrate, cholesterol, sugar, dietary fiber, iron, calcium, sodium, potassium, ash content, and energy.

NeonMind has completed the box and packaging design for the coffees, and has sourced environmentally friendly packaging for the products. NeonMind has commenced development of a website with full e-commerce capabilities, which it intends to launch in tandem with its expected initial product launch in October 2020. The website will be powered by Shopify, which will allow for an optimized user experience across all devices and encourage sales conversions.

 

About Better Plant Sciences Inc.

Better Plant Sciences develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through  e-commerce or brick and mortar retail stores. It also has signed an agreement to buy JUSU bar and JUSU body products and business and expects to complete the acquisition this fall, adding active websites with over 200 products for sale, and another 100 formulas to its assets.  It has 14 patent applications to protect its formulas.  Its majority-owned subsidiary NeonMind Biosciences Inc. is engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and is developing a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms.

 

Investor Relations Contact:

Kevan Matheson, 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 the Coronavirus, 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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BETTER ENTERS AGREEMENT TO ACQUIRE JUSU PLANT-BASED ASSETS FOR $2.25 MILLION

August 18,  2020 – Vancouver, BC: Better Plant Sciences Inc. (CSE:PLNT) (OTCQB:BOSQF) (FE:YG3) (“Better”)

announces that it has entered into an agreement to acquire JUSU branded plant-based assets from JUSU Bar Inc., JUSU Life Inc. and JUSU Cbd Inc. The assets include all inventory, packaging, raw ingredients, and intellectual property related to 300 plant-based products for the home, body and baby, as well as the e-commerce sites where the products are sold, the customer lists and all intangible assets relating to the chain of juice bars operated in British Columbia and Alberta under the name JUSU.

The purchase price of CAD $2.25 million will be paid in units consisting of escrowed securities and warrants. 22,500,000 shares shall be issued to JUSU Group with a trading restriction of no more than 30,000 shares per day, with trading restrictions extending over a 2.5 year period.  22,500,000 warrants to buy shares at $0.11 each are issued with a four month hold. Better Plant Sciences will not take on any liabilities or obligations as part of the deal. The transaction is expected to take place in the fall, once all due diligence is complete and all necessary approvals are obtained.

JUSU is a western Canadian health, wellness and lifestyle brand. It is positioned as a full spectrum wellness brand for premium plant-based products.

The asset purchase includes 300 JUSU products including:

  • JUSU Life: (156 products) cleaning and germ-fighting products, essential oils and aromatherapy
  • JUSU Body: (80 products)  baby products, body lotions and washes, bug and tick spray, hair and face products, soaps, deodorants, shaving creams and sun care
  • JUSU Bar: (35 products) cold-pressed juices, nut milks, health shots, smoothies and smoothie bowls, cold-brew, plant-based coffees, wraps and chia cups
  • JUSU Cbd: (30 formulas) cold-pressed juices, elixirs, health shots, skin care, cosmetics, aromatherapy, supplements and pet care

“I created JUSU because I was not satisfied with the products that were available on the market. I wanted to be able to provide my family with natural products that are safe and effective. That mission was at the core of everything we developed,” says Bruce Mullen, JUSU Founder and CEO. “The Better Plant Sciences team is exactly the kind of partner that I have been looking for. Their team has the knowledge, drive, and experience to take what I have built with JUSU to the next level.”

A 2019 report by BIS Research highlighted that the plant-based food and beverage alternatives market is expected to reach $80.43 billion by 2024, with a CAGR of 13.82% from 2019 to 2024. Statista estimates that the skincare segment will increase by approximately $48 billion over that same period to $189 billion by 2025.

“JUSU is an excellent fit for the Better Plant Sciences portfolio of plant-based products that promote health, humanity and sustainability,” says Penny White, CEO of Better Plant Sciences Inc. “JUSUs diverse value chain incorporates e-commerce, wholesale and franchise paths to market, and with this we are excited to diversify the ways that we reach our customers.”

 

About JUSU Inc.

JUSU is a full spectrum wellness brand with a mission to enlighten consumers to the protective and effective properties of plant based products. Its group of companies is committed to making pure, organic, plant-based products for consumption, body and personal care. This includes brick-and-mortar juice bar franchise locations as well as an extensive direct-to-consumer product offering including skin care and body products, aromatherapy and home cleaning lines. JUSU is fully dedicated to offering consumers healthier alternatives to currently available chemical-based skin care, edible, and beverage products. All JUSU Group companies provide customers only the highest-quality all-natural products made from 100% natural, non-GMO ingredients and operate under the moto: Great products for great people.

 

About Better Plant Sciences Inc.

Better Plant Sciences develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 products that are now for sale through e-commerce or brick and mortar retail stores. It has 14 patent applications to protect its formulas. Its majority owned subsidiary NeonMind Biosciences Inc. is engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and is developing a line of coffees infused with health optimizing medicinal mushrooms including chaga, lionsmane and cordyceps.

 

Investor Relations Contact:

 

Kevan Matheson, 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 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 the Coronavirus, 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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NEONMIND SUBMITS APPLICATION FOR PSILOCYBIN RESEARCH TO HEALTH CANADA

August 6, 2020 – Vancouver, BC: The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) (FE:YG3) majority owned subsidiary NeonMind Biosciences Inc. (“NeonMind”) announces submission of an application to Health Canada for an exemption to use a controlled substance for scientific purposes, pursuant to Section 56(1) of the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (a “Section 56 Exemption”) for NeonMind’s planned preclinical trial using psilocybin.

In May 2020, NeonMind completed the design of its preclinical study focused on using psilocybin as a treatment for weight loss and food cravings (the “Study”). NeonMind has identified a laboratory (the “Lab”) at a Canadian university in which to conduct the Study and the Section 56 Exemption application was submitted on July 27, 2020  by the person at the Lab who is expected to be the lead investigator in the Study.

Obesity has been formally recognized by the World Health Organization (WHO) as a global epidemic, with at least 2.8 million people dying each year as a result of being overweight or obese. The WHO reported that in 2016, more than 1.9 billion adults, 18 years and older, were overweight.

“We expect to receive the exemption within several months. Researchers at the Lab have previously successfully obtained Section 56 Exemptions for research involving controlled substances,” said Penny White, CEO of NeonMind. “Obesity is an enormous problem in modern society, increasing incidence of disease and putting a significant strain on our healthcare systems. The treatment of obesity is shifting focus towards root causes of the problem. We are looking at the problem from a more holistic standpoint, and believe that psychedelics may have great potential to make a positive impact in this area.”

The Lab must first obtain a Section 56 Exemption before it can use psilocybin, a controlled substance, in the Study.

“I believe that we are reaching a tipping point when it comes to awareness about what psychedelics can offer. Therapsil has just announced that four terminal cancer patients have been approved by Health Canada to use psilocybin therapy in the treatment of their end-of-life distress,” added White. “These are the first known patients to be able to legally use psilocybin since the compound became illegal in Canada in 1974.”

Theraspil is a non-profit coalition that advocates for legal, compassionate access to psilocybin therapy for palliative Canadians. The Minister of Health, Patty Hajdu, granted the approval for 4 patients to use psilocybin therapy, marking the first publicly-known individuals to receive a legal exemption from the Canadian Drugs and Substances Act.

The goal of NeonMind’s Study is to use preclinical models to generate data to demonstrate that psilocybin can be used as an effective treatment for weight loss. NeonMind plans to use data from the Study to inform dosing strategies in a Phase 2 human clinical trial to demonstrate potential efficacy of psilocybin as a weight loss treatment.

The global projected market for weight loss and weight management according to marketsandmarkets is estimated at US$245 billion.

Section 56 grants the Minister of Health the discretionary power to provide an individual with an exemption to possess a specified quantity of the controlled substance and to administer the controlled substance to human subjects or animals for the purpose of research. Section 56 states:

“The Minister may, on any terms and conditions that the Minister considers necessary, exempt from the application of all or any of the provisions of this Act or the regulations any person or class of persons or any controlled substance or precursor or any class of either of them if, in the opinion of the Minister, the exemption is necessary for a medical or scientific purpose or is otherwise in the public interest.”

The details of the Section 56 Exemption process are as follows:

An application form for a Section 56 Exemption to use a controlled substance for scientific purposes must be completed, which includes a declaration signed and dated by the person who will be the principal investigator, and sent to the Office of Controlled Substances. According to Health Canada guidelines, exemptions are protocol, principal investigator, site and substance specific. Sufficient information must be supplied to Health Canada to support the use of a controlled substance in the project or protocol and to provide confirmation that the controlled substance will be stored in a secure manner. According to the Government of Canada website, the average processing time for a Section 56 Exemption (once all information required is provided) is 42 working days.  An applicant may be contacted for clarification of information submitted or if the application is incomplete. Exemptions are valid for one year from the issuance date, and applications for extensions may be made if required.

 

About NeonMind Biosciences Inc.

NeonMind aims to be a leader in the fast-growing functional and adaptogenic foods market, and is engaged in research and the development of therapeutic products and services using medicinal and psychedelic mushrooms.  NeonMind has filed U.S. provisional patent applications to protect treatments using psilocin and/or psilocybin and certain other psychedelic substances for weight loss in individuals by reducing food cravings, counteracting compulsive overeating, improving quality of diet, increasing metabolism, treating diabetes, regulating blood glucose and reducing susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity.  Yield Growth owns approximately 68% of the issued and outstanding stock of NeonMind.

 

About The Yield Growth Corp.

The Yield Growth Corp. is a phytoceutical and consumer packaged goods company that develops and acquires intellectual property and other assets related to plant-based products and therapeutics, and develops, manufactures, markets, sells and distributes plant-based products that improve lives. It has over 200 proprietary wellness formulas at various stages of commercialization including over 20 products that are now for sale through  e-commerce or brick and mortar retail stores.  It has 14 patent applications filed in what the Global Wellness Institute reports is a $4.2 trillion-dollar global wellness market.  Its majority owned subsidiary NeonMind Biosciences Inc. is launching a line of medicinal mushroom products and is developing intellectual property in the emerging area of psychedelic medicine.  The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, Skechers and Aritzia.

For more information about Yield Growth, visit www.yieldgrowth.com or follow @yieldgrowth on Instagram.

 

Investor Relations Contacts:

Penny White, President & CEO

Kevan Matheson, Investor Relations

invest@yieldgrowth.com

1-833-514-BOSS   1-833-514-2677

1-833-515-BOSS   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 do to the spread of the Coronavirus, 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.  Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, 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 Yield Growth 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.