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Braxia Scientific Graduates First Cohort of Medical Professionals From Psilocybin-Assisted Therapy Training Program; Ready to Start Health Canada Approved Psilocybin Clinical Trial

Braxia Scientific Graduates First Cohort of Medical Professionals From Psilocybin-Assisted Therapy Training Program; Ready to Start Health Canada Approved Psilocybin Clinical Trial

TORONTO, ONTARIO November 2, 2021 – Braxia Scientific Corp. (“Braxia”, or the “Company”), (CSE: BRAX) (OTC: BRAXF) (FWB: 496), a medical research company with clinics providing innovative ketamine treatments for persons with depression and related disorders, is excited to announce the completion of the training program for psilocybin-assisted clinical therapy by its first multi-disciplinary cohort of 20 qualified therapists from diverse psychiatry and psychotherapy backgrounds.

This program was implemented by the Braxia Institute, the Company’s training centre focused on advancing psychiatric clinical practice and health services of ketamine and psychedelic treatment therapy. Through this program, the Company is able to develop, train, and support qualified, independent medical physicians, psychologists and psychotherapists skilled in best practices to implement safe and effective psilocybin-assisted therapy for patients with depression.

Trainees experienced and learned, through pre-readings, didactic teaching, peer teaching, group discussion and simulations, which provided important background on the use of psilocybin for treating depression and practical considerations for providing psilocybin-assisted psychotherapy. All the enrolled therapists were also required to complete a practicum component, in which medical professionals gained experience in administering psilocybin-assisted therapy for participants with depression as part of an upcoming Health Canada-approved clinical trial.

“Braxia Scientific would like to extend congratulations to this pioneering group graduating our training program,” said Dr. Roger McIntyre, CEO of Braxia Scientific.

“Psilocybin-assisted therapy is a rapidly growing and evolving area of interest for medical professionals, clinicians and patients with multiple mental health conditions, including treatment-resistant depression. Combining the effects of psilocybin with the support of psychotherapy from a qualified and trusted therapist allows a patient to process the psilocybin experience with the therapist, providing the basis for a better treatment outcome.”

Participants in the Braxia Institute training program came from diverse therapy backgrounds, allowing them to leverage their various areas of expertise to co-create guidelines and best practices. This co-creation is also a parallel process with the therapy itself, as (i) psilocybin-assisted therapy relies on a personal journey with minimal top-down direction from the therapist, and (ii) structured therapies, such as cognitive behavioural therapy (CBT), provide more explicit direction and transfer of skills and knowledge from the therapist to the patient.

Through this program, the therapists will be fully competent to perform psilocybin-assisted therapy in upcoming clinical trials conducted by Braxia Scientific and its subsidiaries, evaluating the safety and efficacy of psilocybin in depression. The Company anticipates that, pending regulatory approval of psilocybin, therapists would also be trained to implement psychedelics in clinical practice.

“As mental health professionals, we continually strive to deliver innovative treatment options that will result in better outcomes in persons affected by depression and related disorders,” said Dr. McIntyre.

“We are encouraged to see the growing number of clinical studies focused on demonstrating that psilocybin, and potentially other psychedelics, may be safe and effective in treating people with mental health conditions, and we are focused on providing healthcare professionals with the training, competencies and practical experience to address the need for safe, legal and affordable access to high-quality psilocybin-assisted therapy as regulatory approval is sought for these innovative treatments.”

About Braxia Scientific Corp.
Braxia Scientific is a medical research company with clinics that provide innovative ketamine treatments for persons with depression and related disorders. Through its medical solutions, Braxia aims to reduce the illness burden of brain-based mental disorders such as major depressive disorder among others. Braxia is primarily focused on (i) owning and operating multidisciplinary clinics, providing treatment for mental health disorders, and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. Braxia seeks to develop ketamine and derivatives and other psychedelic products from its IP development platform. Through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., Braxia currently operates multidisciplinary community-based clinics offering rapid-acting treatments for depression located in Mississauga, Toronto, Ottawa, and Montreal.

ON BEHALF OF THE BOARD

“Dr. Roger S. McIntyre”
Dr. Roger S. McIntyre
Chairman & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Braxia Scientific Corp.
Tel: 416-762-2138
Email: info@braxiascientific.com
Website: www.braxiascientific.com

 

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

 

Forward-looking Information Cautionary Statement
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are “forward-looking statements.”

Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression and the potential for ketamine to treat other emerging psychiatric disorders, such as Bipolar Depression. 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, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the “CDSA”) and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.

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. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021, which are available at www.sedar.com. 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.

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Awakn Life Sciences to Participate at the Wonderland: Miami Conference in November 2021

Awakn Life Sciences to Participate at the Wonderland: Miami Conference in November 2021

Toronto, Ontario–(Newsfile Corp. – November 2, 2021) – Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (‘Awakn’), a biotechnology company developing and delivering psychedelic therapeutics (medicines and therapies) to treat Addiction, announced today that Professor David Nutt, Chief Research Officer of Awakn Life Sciences, and Dr. Ben Sessa, Chief Medical Officer of Awakn Life Sciences, will participate in the Microdose Presents: Wonderland, Miami Conference in-person from Monday, November 8th to Tuesday, November 9th.

Prof. Nutt and Dr. Sessa and will present together live on The Future of Addiction Treatments panel on Tuesday, November 9th at 2:00 p.m. ET. Register to attend here.

For more information about the conference, or to schedule a one-on-one meeting with Awakn’s management team, please contact your Microdose representative or KCSA Strategic Communications at Awakn@kcsa.com.

About Awakn Life Sciences Corp.

Awakn Life Sciences is a biotechnology company with clinical operations, developing and delivering psychedelic therapeutics (medicines and therapies) to better treat addiction. Awakn’s team consists of world leading chemists, scientists, psychiatrists, and psychologists who are developing and advancing the next generation of psychedelic drugs, therapies, and enabling technologies to treat addiction. Awakn will deliver these evidence backed psychedelic therapies in clinics in the UK and Europe and through licensing partnerships globally.

www.awaknlifesciences.com | Twitter | LinkedIn | Facebook

Investor Enquiries:
KCSA Strategic Communications
Valter Pinto / Tim Regan
Phone: +1 (212) 896-1254
Awakn@KCSA.com

Media Enquiries:
America and Canada: KCSA Strategic Communications
Anne Donohoe
Adonohoe@KCSA.com

Rest of World: ROAD Communications
Paul Jarman / Anna Ramsey
Awakn@roadcommunications.co.uk

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atai Life Sciences Announces Supportive Interim Data from First 8-Patient Cohort of Phase 2a Trial for Novel Treatment of Cognitive Impairment Associated with Schizophrenia

atai Life Sciences Announces Supportive Interim Data from First 8-Patient Cohort of Phase 2a Trial for Novel Treatment of Cognitive Impairment Associated with Schizophrenia

These data have given atai confidence to support an accelerated clinical development timeline

NEW YORK, Nov. 01, 2021 (GLOBE NEWSWIRE) — atai Life Sciences (Nasdaq: ATAI) (“atai”) today announced that it has observed encouraging interim data from the first 8-patient cohort of its Phase 2a trial, demonstrating potential pro-cognitive effects of its compound RL-007, a cholinergic, glutamatergic, and GABA type B receptor modulator, for Cognitive Impairment Associated with Schizophrenia (CIAS).

These early data have led atai to commit additional financial resources, enabling an accelerated clinical development timeline for RL-007, even ahead of completion of the ongoing Phase 2a trial.

The interim Phase 2a readout reported promising assessments for the 8-patient cohort from two quantitative biomarkers, qEEG (quantitative electroencephalogram) and ERP (evoked-response potential) and indicated changes that are consistent with improved cognition. CIAS is a major unmet need for those living with schizophrenia, with no effective treatments currently available.1 Full results of the current Phase 2a trial are expected by the end of 2021.

The financial boost by atai will enable immediate initiation of planning stages for the next clinical trial, ahead of schedule and prior to the Phase 2a’s conclusion. The atai RL-007 trials are being conducted by Recognify Life Sciences, an atai Life Sciences platform company.

“With these data, from the interim analysis of the ongoing Phase 2a trial, we are encouraged to accelerate the overall development of RL-007 for CIAS,” said Matthew Pando, PhD, CEO and Co-Founder of Recognify Life Science. “I would like to express my deepest gratitude to the patient volunteers who have supported our clinical trial thus far. I believe that, with continued support, we have the potential to bring benefit to patients living with schizophrenia and its often very challenging cognitive impacts.”

“We believe that, although preliminary, these promising data give us confidence to further support and expedite the clinical trajectory for RL-007 and we look forward to the full data set,” said Florian Brand, CEO and Co-Founder of atai Life Sciences. “With its unique mechanism of action, we think that RL-007 has potential to address a major unmet need in terms of addressing the cognitive deficits that can be so debilitating for people with schizophrenia.”

Schizophrenia is a mental health disorder primarily characterized by hallucinations, delusions, and disordered thinking. This condition effects over 21 million people globally and approximately 3.5 million people in the United States.2,3

CIAS is a major unmet need for those living with schizophrenia. Cognitive deficits are frequently present in patients diagnosed with schizophrenia, and such deficits contribute to the marked disability associated with this condition, impacting the ability of patients to carry out some basic living tasks, like pursuing education and holding down a job.4

About the RL-007 Phase 2a trial
The ongoing Phase 2a trial is a single-arm, single blind, multiple dose study of oral RL-007 administered to subjects with schizophrenia who are currently stable on a protocol-allowed antipsychotic regimen. Subjects continue their antipsychotic treatment without change throughout the course of this study. All subjects receive four doses of placebo followed by six doses of RL-007, although subjects are blinded to the dose strength or sequence of active and placebo capsules.

About RL-007

RL-007 has a unique mechanism of action, impacting both cholinergic and gamma-aminobutyric acid type B (GABA type B) receptor systems, which are both are central to learning and memory functions. With its unique mechanism of action, we believe RL-007 may enhance pro-cognitive functioning, such as neuronal signaling, learning, and memory.

About atai Life Sciences

atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders.

atai’s business model combines funding, technology, scientific and regulatory expertise with a focus on psychedelic therapy and other drugs with differentiated safety profiles and therapeutic potential. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines across its companies, seeking to effectively treat and ultimately heal mental health disorders.

atai’s mission is to bridge the gap between what the mental healthcare system currently provides and what patients need. atai has offices in New York, London, and Berlin. For more information, please visit www.atai.life.

References:
1. Hsu WY, Lane HY, Lin CH. Medications Used for Cognitive Enhancement in Patients With Schizophrenia, Bipolar Disorder, Alzheimer’s Disease, and Parkinson’s Disease. Front Psychiatry. 2018;9:91.
2. Charlson FJ, Ferrari AJ, Santomauro DF, et al. Global Epidemiology and Burden of Schizophrenia: Findings From the Global Burden of Disease Study 2016. Schizophr Bull. 2018;44(6):1195-1203.
3. Wander C. Schizophrenia: opportunities to improve outcomes and reduce economic burden through managed care. Am J Manag Care. 2020;26(3 Suppl):S62-S68.
4. Bowie CR, Harvey PD. Cognitive deficits and functional outcome in schizophrenia. Neuropsychiatr Dis Treat. 2006;2(4):531-536.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include express or implied statements relating to, among other things, statements regarding the potential outcome of Recognify’s ongoing Phase 2a trial for its lead compound, RL-007; the success, cost and timing of development of our product candidates, including the progress of preclinical and clinical trials and related milestones; the commercialization of our current product candidates and any other product candidates that we may identify and pursue, if approved, including our ability to successfully build a specialty sales force and commercial infrastructure to market our current product candidates and any other product candidates that we may identify and purse; the timing of, and our ability to obtain and maintain, regulatory approvals; our business strategy and plans; potential acquisitions; and the plans and objectives of management for future operations and capital expenditures. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation, the important factors discussed under the caption “Risk Factors” in atai’s prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission (“SEC”) on June 21, 2021, and in atai’s other filings with the SEC. Any forward-looking statements made herein speak only as of the date of this press release, and you should not rely on forward-looking statements as predictions of future events. Although atai believes that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, performance, or achievements reflected in the forward-looking statements will be achieved or will occur. atai disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release (or to conform these statements to actual results or revised expectations), other than to the extent required by applicable law.

Contact Information

For atai:

Media Contact:
Camilla Dormer
VP, Communications, atai Life Sciences
Email: camilla@atai.life

Investor Contact:
Chad Messer
VP, Investor Relations, atai Life Sciences
Email: chad@atai.life

 

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Allied Corp Launches “Allied Inside™” Approach For Wholesale Product Offering With Trademark Filing

Allied Corp Launches “Allied Inside™” Approach For Wholesale Product Offering With Trademark Filing

ALLIED CORP LAUNCHES “ALLIED INSIDE™” APPROACH FOR WHOLESALE PRODUCT OFFERING WITH TRADEMARK FILING

Kelowna, BC, Canada – November 02, 2021 Allied Corp. (“Allied” or the “Company”) (OTCQB: ALID) is pleased to announce the launch of the Allied Inside™ approach to wholesale cannabis product offering.

On October 30, 2021 Allied filed trademark for protection of the words and logo mark that demarks the Allied Inside™ product.

About Allied Inside™: CLICK TO VIEW ALLIED INSIDE

The intention of Allied Inside™ is to give consumers an identifiable brand that is known for its quality and consistency. This represents a standardization of what we believe to fill a gap in the international wholesale marketplace. All Allied Inside™ product is produced at the Colombian Campus and is quarantined until it is reviewed against European Pharmacopeia standards before being released for sale.

We believe that the Allied Inside™ model enables large scale sales and distribution companies (the “partner”) to sell the Allied produced product under their own brand into their markets. By engaging in the Allied Inside™ supply chain, we believe that this enables the international partner in the following ways:

  • The international partner avoids the capex needed to build out the production center in their country. Allied provides the product on a weekly schedule and to the specifications that the international partner orders.
  • Zero on-going production opex costs as Allied handles this.
  • Zero on-going operational management and human resource management risk as Allied handles all of this.
  • Zero production expertise needed as Allied handles this.
  • Pricing structure that de-risks the sales cycle and allows you to bring your brand to your sales and distribution. Allied offers a pricing structure that involves a nominal up-front payment followed by payment terms on the remaining amount so that the international partner can sell through into their market.

Price point that delivers product to you at approx. half of the cost than it would cost you to produce.

The product is provided to the international partner every week on time, within budget and adhering to the partner-market quality assurance standards.
Enables the international partner to be faster to market as there is no physical production infrastructure required in the climate where the partner is located. Product is provided as Colombian produced. We believe that this enables first market mover advantage.

Here is a link to the Allied Inside trademarked logo: LINK HERE

This mark will be intended to be represented on the back of each package of branded cannabis that is sold into the international marketplace. The supply channel partner will represent and sell their product under their brand, with the Allied Inside™ mark appearing somewhere on the packaging.

Allied will be only providing cannabis flower after the Colombian government allows it and will provide supply only to countries where it is legal to sell into (for example, the United States currently only allows for THC levels to be less than 0.3%).

“The Allied Inside™ mark is an exciting way to show the international consumers that the product under the various brands has been produced with the Allied Corp high quality standards. With several supply contracts signed for the 2022 calendar year, we are ready to start shipping when Colombia allows. Allied harvests on a weekly basis and by nature of this we believe that we will be able to provide rolling supply that is harvested fresh every week. In addition to this, we are offering attractive terms to approved off take partners to offer what we believe to be a de-risked pricing structure and sales cycle.” said Mr. Calum Hughes, CEO and Chairman of Allied Corp.

About Allied Corp. – https://allied.health/

Allied Corp. is an international cannabis company with its main production center in Colombia and is one of the few companies that has exported from Colombia internationally. In preparation for the possible legalization of cannabis by the US Federal Government, Allied also has the option to purchase a US cannabis license in the US (Nevada) exercisable if such were to happen. In addition to this, Allied has three CBD-brands to market with products selling in the United States. Lastly, Allied has both Cannabinoid and psilocybin products in the pharmaceutical development track seeking pharma drug indications for depression, anxiety and PTSD.

Investor Relations:

ir@allied.health

1-877-255-4337

Forward-Looking Statements:

This press release contains “forward-looking information” within the meaning of applicable securities laws in Canada or the United States ( “forward-looking information”). Forward-looking information may relate to the Company’s future outlook and anticipated events, plans or results, and may include information regarding the Company’s objectives, goals, strategies, future revenue or performance and capital expenditures, and other information that is not historical information. Forward-looking information can often be identified by the use of terminology such as “believe,” “anticipate,” “plan,” “expect,” “pending,” “in process,” “intend,” “estimate,” “project,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, variations thereon and similar expressions. The forward-looking information contained in this press release is based on the Company’s opinions, estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Forward looking statements in this press release include the following: that Allied is leveraging the conditions in its Colombia grow operation and future Kelowna location to support its Research and Development efforts; that Allied is making important strides forward to position itself as a leader in the medical cannabis space, that Allied intends to make a series of proposed trademark and other intellectual property protection filings, as part of the Company’s Intellectual Property and Pharma Development (IP&PD) Strategy, statements respecting the joint development, manufacturing, and the introduction of TACTICAL RELIEF™ branded products.

There can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Risk factors that could cause actual results to differ materially from forward-looking information in this release include: the Company’s exposure to legal and regulatory risk; the effect of the legalization of adult-use cannabis in Canada and Colombia on the medical cannabis industry is unknown and may significantly and negatively affect the Company’s medical cannabis business; that the medical benefits, viability, safety, efficacy, dosing and social acceptance of cannabis are not as currently expected; that adverse changes or developments affecting the Company’s main or planned facilities may have an adverse effect on the Company; that the medical cannabis industry and market may not continue to exist or develop as anticipated or the Company may not be able to succeed in this market; risks related to completion of the greenhouse construction in Colombia, risks related to market competition; risks related to the proposed adult-use cannabis industry and market in Canada and Colombia including the Company’s ability to enter into or compete in such markets; that the Company has a limited operating history and a history of net losses and that it may not achieve or maintain profitability in the future; risks related to the Company’s current or proposed international operations; risks related to future third party strategic alliances or the expansion of currently existing relationships with third parties; that the Company may not be able to successfully identify and execute future acquisitions or dispositions or successfully manage the impacts of such transactions on its operations; risks inherent to the operation of an agricultural business; that the Company may be unable to attract, develop and retain key personnel; risks resulting from significant interruptions to the Company’s access to certain key inputs such as raw materials, electricity, water and other utilities; that the Company may be unable to transport its cannabis products to patients in a safe and efficient manner; risks related to recalls of the Company’s cannabis products or product liability or regulatory claims or actions involving the Company’s cannabis products; risks related to the Company’s reliance on pharmaceutical distributors; that the Company, or the cannabis industry more generally, may receive unfavorable publicity or become subject to negative consumer or investor perception; that certain events or developments in the cannabis industry more generally may impact the Company’s reputation or its relationships with customers or suppliers; that the Company may not be able to obtain adequate insurance coverage in respect of the risks that it faces, that the premiums for such insurance may not continue to be commercially justifiable or that there may be coverage limitations and other exclusions which may result in such insurance not being sufficient; that the Company may become subject to liability arising from fraudulent or illegal activity by its employees, contractors, consultants and others; that the Company may experience breaches of security at its facilities or losses as a result of the theft of its products; risks related to the Company’s information technology systems; that the Company may be unable to sustain its revenue growth and development; that the Company may be unable to expand its operations quickly enough to meet demand or manage its operations beyond their current scale; that the Company may be unable to secure adequate or reliable sources of necessary funding; risks related to, or associated with, the Company’s exposure to reporting requirements; risks related to conflicts of interest; risks related to fluctuations in foreign currency exchange rates; risks related to the Company’s potential exposure to greater-than-anticipated tax liabilities; risks related to the protection and enforcement of the Company’s intellectual property rights, or the intellectual property that it licenses from others; that the Company may become subject to allegations that it or its licensors are in violation of the intellectual property rights of third parties; that the Company may not realize the full benefit of the clinical trials or studies that it participates in; that the Company may not realize the full benefit of its licenses if the licensed material has less market appeal than expected and the licenses may not be profitable; as well as any other risks that may be further described in and the risk factors discussed in the Company’s continuous disclosure including its Management’s Discussion and Analysis sections in its Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K filed under the Company’s profile at www.sec.gov.

Although management has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking information in this presentation, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information in this presentation. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers and viewers should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this release represents the Company’s expectations as of the date of this release or the date indicated, regardless of the time of delivery of the presentation. The Company disclaims any intention, obligation or undertaking to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

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Psybio Announces Filing of Final Base Shelf Prospectus

Psybio Announces Filing of Final Base Shelf Prospectus

OXFORD, Ohio and COCONUT CREEK, Fla. , Nov. 1, 2021 /CNW/ – PsyBio Therapeutics Corp. (TSXV: PSYB) (OTC: PSYBF) (” PsyBio ” or the ” Company “), announced today that it has filed and obtained receipts for a final base shelf prospectus. The final base shelf prospectus dated October 28, 2021 was filed with the securities regulatory authorities in each of the provinces and territories of Canada .

The final base shelf prospectus is valid for a 25-month period, during which time PsyBio may offer and issue, from time to time, subordinate voting shares, multiple voting shares, warrants, options, subscription receipts, debt securities and units, or any combination thereof, having an aggregate offering price of up to C$100,000,000 . The specific terms of any offering of securities will be contained in a shelf prospectus supplement filed at the time of such offering.

“The shelf filing is another step that the Company is taking to offer institutional investors streamlined access to invest in the Company’s securities,” said Evan Levine , Chief Executive Officer of the Company.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The securities referred to in this press release may not be offered or sold in the United States absent registration or an applicable exemption from registration.

The Company also announces that, effective November 2, 2021 , it has retained Integral Wealth Securities Limited (” Integral “) to provide market making services in accordance with the policies of the TSX Venture Exchange (the ” TSXV “), for the purposes of maintaining an orderly market and improving the liquidity of the Company’s subordinate voting shares traded on the TSXV.

In consideration of the services provided by Integral, the Company will pay Integral a monthly cash fee of C$7,500, plus any reasonable costs and expenses it incurs in connection with the services provided. The Company has retained Integral for no less than a three-month term. Integral will not receive any securities of PsyBio as compensation pursuant to the agreement. The Company and Integral are unrelated and unaffiliated entities. Integral does not currently own any securities of PsyBio. However, Integral and its clients may acquire a direct interest in the securities of the Company. Effective as of the close of business on November 1, 2021 , Generation IACP Inc. will cease providing market making services to the Company.

About PsyBio Therapeutics Corp.

PsyBio is an intellectual property driven biotechnology company developing new, bespoke, psycho-targeted therapeutics to potentially improve mental and neurological health. The team has extensive experience in drug discovery based on synthetic biology and metabolic engineering as well as clinical and regulatory expertise progressing drugs through human studies and regulatory protocols. Research and development is currently ongoing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines and combinations thereof. The Company utilizes a bio-medicinal chemistry approach to therapeutic development, in which psychoactive compounds can be utilized as a template upon which to develop precursors and analogs, both naturally and non-naturally occurring.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain statements that constitute “forward-looking information” (” forward-looking information “) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

In disclosing forward-looking information, the Company has made certain assumptions, including that the retention of Integral will help maintain an orderly market and improve the liquidity of the Company’s subordinate voting shares. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

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

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

SOURCE PsyBio Therapeutics Corp.

Cision View original content: http://www.newswire.ca/en/releases/archive/November2021/01/c7979.html

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Red Light Holland Appoints New Chief Financial Officer

Red Light Holland Appoints New Chief Financial Officer

● David Ascott has been appointed as Chief Financial Officer of Red Light Holland, a Psychedelics Company with more than $28 million of working capital*

● Bruce Linton, heavily involved in the CFO hiring process “ecstatic” to have Mr. Ascott join CEO Todd Shapiro and the Red Light Holland Team

Toronto, Ontario–(Newsfile Corp. – November 1, 2021) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC Pink: TRUFF) (“Red Light Holland” or the “Company”), an Ontario-based corporation engaged in the production, growth, and sale of a premium brand of magic truffles, is pleased to announce David Ascott will become Red Light Holland’s Chief Financial Officer (“CFO”) effective November 2nd, 2021. The organization’s current CFO, Kyle Appleby, will assist with a smooth transition before moving on to focus on new opportunities. CEO Todd Shapiro and the Board of Directors wish to extend their gratitude to Mr. Appleby for his efforts and leadership during an important and initial stage in Red Light Holland’s journey.

Mr. Ascott whose past includes being the CFO (2011-2018) for Rocky Mountain Dealerships Inc., an agricultural equipment company with $1B in revenue, joins Red Light Holland after most recently being a Chief Financial Officer with an early stage private cannabis producer. Mr. Ascott, a CPA with over 30 years’ experience, began his career in public practice with Ernst & Young where he progressed to Senior Manager serving a variety of clients both domestically and abroad.

“Red Light Holland continues to exhibit vision and aggressive execution,” said Bruce Linton, Red Light Holland’s Chair of the Advisory Board. “We are a psychedelics company generating revenue, who have acquired multiple companies, acted on bought deals and are evermore analyzing our next moves for growth with our advantageous cash position – which is why I’m ecstatic that David Ascott is joining the Red Light Holland team. Todd Shapiro and I interviewed numerous candidates and together we realized David’s astute financial leadership with regulations, reporting, budgeting, operations and being a part of a team that grew revenues to 1 Billion dollars with a past company – would all lend well to helping with strategic growth and compliment our careful spending habits.”

“It is exciting to be joining a pioneering company in a growth sector,” added David Ascott, incoming Red Light Holland CFO. “The Red Light Holland team has the commitment and expertise to execute its strategic initiatives for the potential of psychedelics to help with positive change and continually lead the charge on providing access. I am proud to bring my dedication and financial leadership to this organization, with its balance sheet strength, including a significant cash balance, as we focus on revenue growth & future M&A opportunities while building global supply chains, distribution networks and a world class brand.”

“This is a significant day for Red Light Holland and all of our shareholders,” said Todd Shapiro, CEO and Director of Red Light Holland. “David Ascott will immediately help us with several important growth initiatives including increasing revenue growth and potential future M&As. I’m looking forward to working very closely with David who is very committed to Red Light Holland’s mission and vision.”

In consideration for Mr Ascott’s services, on top of his salary agreement, the Company authorized the grant of 1,000,000 incentive stock options to Mr. Ascott, with each such option entitling the holder thereof to acquire one common share in the capital of the Company for a period of 3 years, at an exercise price of $0.185 per common share. The Options shall vest according to the following schedule: (a) 1/3 of the Options shall vest one (1) year following the date of issuance; and Following the first year of the Agreement, the remaining 2/3 of the Options shall begin to vest in equal increments every six (6) months, such that 166,666 Options shall vest every six (6) months.

The Company would also like to take this time to acknowledge that CEO and Director Todd Shapiro is recovering from his recent COVID-19 diagnoses. On Behalf of the Board of Directors we wish our fearless leader and his wife, 6 year old son and 2 year old daughter a speedy recovery. Unfortunately, the diagnoses of COVID-19 limited Todd’s travel to The Netherlands where he was to meet up with Russell Peters, the company’s Chief Creative Officer and document Russell’s first psychedelic experience with Red Light Holland’s therapist and expert psychedelic guide Jeff Hamburg. As a result, both Russell Peters and Todd Shapiro have postponed traveling to The Netherlands for the documentation and live-stream event which was announced on October 15th, 2021, which will be rescheduled as soon as possible.

“I’m just glad my man Todd Shapiro and his family are recovering from COVID-19,” said Russell Peters, Chief Creative Officer. “It’s no joke. Neither is opening up about mental health and I assure everybody when the time is right, Todd and I expect to get to The Netherlands, where my plan is to have a guided truffle therapy experience and open up about my journey for the world to see. I truly believe that the more of us who tackle our demons and then share those outcomes will be beneficial for people everywhere and I feel blessed to be in a position to potentially help those struggling.”

Red Light Holland and Russell Peters will share more details, about where and when people in the Netherlands can attend the live intimate event and where individuals all around the world can view the live-stream, in due course.

*Unaudited

About Red Light Holland

The Company is an Ontario-based corporation engaged in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Often, but not always, forward-looking statements and information 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 state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or their respective subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Examples of such information include statements with respect to: the appointment of David Ascott as it relates to the expected growth initiatives including increasing revenue growth and potential future M&As; Russell Peters’ ability to get to the Netherlands, the anticipated journey facilitated by Jeff Hamburg, the intimate live event featuring Russell Peters and the live-streaming of the event; the commencement and projected date regarding the Company’s ability to ensure the live event will happen on the Company’s social media accounts, the venue for the event; statements about the future of the live session with Russell Peters, Jeff Hamburg providing support, with respect to live journey; and expectations for other economic, business, and/or competitive factors.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, expectations regarding future growth and expansion of the operations of the business; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial and stock markets; risks related to infectious diseases, including the impacts of the COVID-19 pandemic; legal and regulatory risks inherent in the psychedelics industry, including the global regulatory landscape and enforcement related to psychedelics; political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation and the interpretation of various laws regulations and policies; public opinion and perception of the psychedelics industry; and such other risks contained in the public filings of the Company filed with Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com, including the Company’s annual information form for the year ended March 31, 2020.

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

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

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Medspress(TM) Announces Webinar: The Art, Craft, and Science of Coffee

Medspress(TM) Announces Webinar: The Art, Craft, and Science of Coffee

CAPE TOWN, SA / ACCESSWIRE / November 1, 2021 / WUHAN GENERAL GROUP, INC. (OTC PINK:WUHN) (“WGG” or the “Company”), a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research is pleased to share the following update:

Medspresso™ is pleased to announce its live coffee webinar is scheduled for Friday, 12 November 2021 at 15:00 SAST. The webinar will feature a panel of coffee experts with decades’ worth of experience and expertise in everything from growing, roasting, brewing, and appraising coffee. The panel will dive into the current state of the coffee market and further discuss the art, craft, and science of the bean-to-cup journey and everything in-between. The esteemed panel includes Gerald Charles, Alessandro Morrico, and Michael Sachar, and is chaired by Jeff Robinson.

“Every day, millions of people around the world begin their day with a cup of coffee. Some chug it as vital fuel to get them through their day, and some savor it carefully as part of their morning ritual. For most, coffee is just a drink, but not for us. For us, it’s an art, a craft and a passion. Our devotion to coffee has taken us all over the world in the search for the finest beans. Join us for an exciting conversation exploring the history of coffee, the art of roasting, and a deep dive into the world of specialty coffee.” Michael Sachar explains.

The panel of experts will include award-winning, internationally renowned barista and roaster Gerald Charles from Rock ‘n Roller Coffee. Gerald has been involved in the South African coffee industry for over 18 years and his technical knowledge surrounding coffee and the intricacies of roasting the perfect bean is unparalleled.

Also joining the panel is Alessandro Morrico CEO of Morrico Import Export, a specialist coffee equipment importer, distributor, and coffee consulting company in South Africa. Alessandro holds an SCAE Diploma (Specialty Coffee Association of America and Europe) and is one of very few Q Graders in South Africa, meaning he has mastered the ins and outs of everything coffee. He is Vice Chairman of the Speciality Coffee Association of South Africa (SCASA) and has been Barista Championship Head Judge for over 10 years. He was certified for the World Barista Championship from 2009 to 2011. In short, Alessandro knows his beans.

Michael Sachar, the third panelist and CEO of M2Bio Food and Beverage, possesses an extraordinary amount of experience having worked in the USA, China, and the Middle East trading in raw and roasted coffee beans for 20 years. He has a very keen eye and taste for consumer demands and behavior. Michael will share his knowledge on the health benefits of the CBD and coffee combination, and lift the veil on how coffee enthusiasts can bring the world-class specialty coffee taste and experience into their homes.

To attend the webinar sign up here.

About Wuhan General Group, Inc./ M2Bio Sciences, Inc

Wuhan General Group, Inc. (DBA M2bio Sciences), through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids and psilocybin medical research that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™, and Liviana™ brands. In addition, our research and clinical trials with psilocybin are aimed at new therapies that will help patients who suffer from alcohol addiction, mental illness, and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research, and emerging technologies. The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol “WUHN”.

Publicly traded company (OTC Pink: WUHN)

Website: www.m2bio.co

E-mail: info@m2bio.co

Follow us on Twitter: https://twitter.com/Medspresso

Follow us on Facebook: https://www.facebook.com/Medspresso

Follow us on YouTube: https://www.youtube.com/channel/Medspresso

Follow us on Instagram: https://www.instagram.com/medspresso.official

Forward-Looking Statements:

Safe Harbour Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

SOURCE: Wuhan General Group, Inc./ M2Bio Sciences, Inc.

View source version on accesswire.com:
https://www.accesswire.com/670516/MedspressTM-Announces-Webinar-The-Art-Craft-and-Science-of-Coffee

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Psyched Wellness Announces Participation in Microdose’s Wonderland: Miami on November 8-9, 2021

Psyched Wellness Announces Participation in Microdose’s Wonderland: Miami on November 8-9, 2021

Toronto, Ontario – November 1, 2021 – Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9) (the “Company” or “Psyched“) a life sciences company focused on the production and distribution of artisanal functional and psychedelic mushrooms, today announced that Chief Executive Officer, Jeffrey Stevens, will participate in Microdose’s Wonderland: Miami Conference on November 8-9, 2021.

Wonderland: Miami will be held at the Adrienne Arsht Center for the Performing Arts in Miami, FL on November 8-9, 2021.

Mr. Stevens will be participating in one-on-one meetings throughout the event.

For more information about the event, or to schedule a one-on-one meeting with Psyched’s management team, please contact KCSA Strategic Communications at PsychedWellness@kcsa.com.

For further information, please contact:

Jeffrey Stevens
Chief Executive Officer
Psyched Wellness Ltd.
t: 647-400-8494
e: jstevens@psyched-wellness.com
w: http://www.psyched-wellness.com

Investor Contacts:
Tim Regan/Sophia Bashford
KCSA Strategic Communications
t: (978) 505-2478
e: PsychedWellness@kcsa.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

About Psyched Wellness Ltd.:

Psyched Wellness Ltd. is a Canadian-based health supplements company dedicated to the distribution of mushroom-derived products and associated consumer packaged goods. The Company’s objective is to create premium mushroom-derived products that have the potential to become a leading North American brand in the emerging functional food category. The Company is in the process of developing a line of Amanita muscaria-derived water-based extracts, teas and capsules designed to help with three health objectives: promote stress relief, relaxation and assist with restful sleeping.

Cautionary Statement Regarding Forward-Looking Information and Statements

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Psyched Wellness Ltd. current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by Psyched at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information, including, without limitation, (i) the accuracy of the Toxicology Assessment, (ii) the safety of Amanita Muscaria consumption and the safety and purity of any extracts thereof, and (iii) the uses and potential benefits of Amanita Muscaria. Given these risks, uncertainties, and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Psyched is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Psyched Wellness Ltd. management’s discussion and analysis for the six months ended May 31, 2020 and covering the subsequent period up to July 27, 2020 (“MD&A”), dated July 27, 2020, which is available on Psyched Wellness Ltd. profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

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PharmaTher Provides Research Update on Microneedle Patch Delivery Technologies for Psychedelics

PharmaTher Provides Research Update on Microneedle Patch Delivery Technologies for Psychedelics

  • Completing IND-enabling studies with novel microneedle patch for ketamine, psilocybin, MDMA, LSD, and DMT.
  • Expanding research in evaluating ibogaine and mescaline.
  • Aiming for FDA Phase 1 and 2 clinical studies in Q2-2022.
  • Discussing partnership opportunities for delivering psychedelics with MicroDose-MN™ and MacroDose-MN™ patches.
TORONTO, November 1, 2021 — PharmaTher Holdings Ltd. (the “Company” or “PharmaTher”) (OTCQB: PHRRF) (CSE: PHRM), a clinical-stage psychedelics biotech company, today provides an update on the ongoing research studies with its novel microneedle (“MN”) patch as a next generation delivery technology for psychedelics, including ketamine, psilocybin, 3,4-methylenedioxy-methamphetamine (“MDMA”), lysergic acid diethylamide (“LSD”), and N, N-dimethyltryptamine (“DMT”).

The Company has research collaborations with the Terasaki Institute to evaluate MicoDose-MN™; a patent-pending biocompatible and biodegradable gelatin methacryloyl microneedle patch, to deliver psilocybin, MDMA, LSD and DMT, and with The Queen’s University of Belfast (“QUB”) to evaluate MacroDose-MN™; a patented hydrogel-forming microneedle patch, to deliver ketamine and PharmaTher’s proprietary ketamine combination formulation, ketamine and betaine (“KETABET™”) for mental health, neurological and pain disorders.

Research results with MicroDose-MN™ for psilocybin and LSD will be made available in November 2021, followed by results with MDMA and DMT in December 2021.  Research results with MacroDose-MN™ for ketamine and KETABET™ will be made available in December 2021.  Current research results are very encouraging; therefore, the Company has decided to expand research to include ibogaine and mescaline, prepare IND applications with the FDA for Phase 1 and 2 clinical studies in Q2-2022, and discuss partnership opportunities with specialty pharmaceutical companies seeking a novel and validated delivery system for psychedelics targeting specific indications and desired pharmacokinetic profiles.

PharmaTher is proceeding with its IND-enabling studies and manufacturing scale-up for cGMP microneedle patches for its expected clinical studies in 2022.  The MicroDose-MN™ and MacroDose-MN™ patches can efficiently penetrate the stratum corneum layer (outer layer of the skin), enable flexible drug load capacity and combinations, and control-release delivery, which may overcome the potential drawbacks of oral administration, subcutaneous injections, topical and nasal delivery systems.  In addition to the potential of maintaining constant plasma levels for more than 24 hours, the MN patches aim to empower patients to dose their medication remotely, safely and conveniently rather than under supervision by a healthcare provider at a certified medical office. To achieve this, the Company will incorporate anti-tampering and anti-abuse features that would parallel the approach used for the tamper-resistant transdermal fentanyl patch.

“We are nearing completion of our research programs in validating the utility of our microneedle patch delivery technologies for psychedelics, derisking our plans in advancing the completion of our IND-enabling studies to support future clinical studies and partnering opportunities,” said Fabio Chianelli, CEO of PharmaTher.  “As we look forward to announcing our research results, our focus continues to expand our ketamine-based product pipeline and advance our microneedle patch programs to unlock significant value and return on investment for long-term revenue potential through our products and our future partners.”

About PharmaTher Holdings Ltd.

​PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) is a clinical-stage psychedelics biotech company focused on the research, development and commercialization of novel uses, formulations and delivery methods of psychedelics, such as ketamine, to treat mental health, neurological and pain disorders.  PharmaTher is currently advancing an FDA approved phase 2 clinical study with ketamine to treat Parkinson’s disease and is developing a novel microneedle patch for the intradermal delivery of psychedelics and infectious disease treatments.
​
Learn more at:  PharmaTher.com and follow us on Twitter and LinkedIn.

For more information about PharmaTher, please contact:

Fabio Chianelli
Chief Executive Officer
PharmaTher Holdings Ltd.
Tel: 1-888-846-3171
Email: info@pharmather.com
Website: www.pharmather.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “potential”, “aim” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmaTher Holdings Ltd. (the “Company”) current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Company’s management’s discussion and analysis for the period of August 31, 2021 (“MD&A”), dated October 27, 2021, which is available on the Company’s profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

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PharmaDrug Expands Product Offering to Prepare for Potential Adult Use Market in Germany

PharmaDrug Expands Product Offering to Prepare for Potential Adult Use Market in Germany

Toronto, Ontario – November 1, 2021 – PharmaDrug Inc. (CSE: PHRX) (OTCQB: LMLLF) (“PharmaDrug” or the “Company“), a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs, is pleased to announce that its 100% owned cannabis and controlled substance distributor Pharmadrug Production GmbH (“Pharmadrug Production“) has expanded its product offering with a goal to increase its pharmacy network and sales volume as it prepares for the significantly increased potential of cannabis adult use legalization in Germany.

In the immediate term, the Company has signed a supply agreement for Dronabinol, a synthetic THC oil that currently dominates the medical cannabis oil market in Germany. Pharmadrug Production has already added the product to its license and first shipment is expected this week. Sales efforts have already begun with first customer deliveries slated to begin in the current quarter. Management believes the selling of Dronabinol will serve to increase sales volumes, but should also significantly increase its pharmacy distribution network beyond its current levels. The Dronabinol is a third party product and Pharmadrug Production will act as a distributor much like its Bedrocan business. The Company is in advanced discussions with two separate manufacturers to be able to supply Dronabinol on a white label basis to be branded as a PharmaDrug product.

During the month of October, Pharmadrug Production conducted the final inspection of its supply partner in Denmark. The visit was deemed successful with the newly built cannabis oil extraction facility fulfilling all the necessary requirements to be able to supply GMP calibre THC oils to the German medical cannabis market. The Company has registered the initial product with the regulator, and it has been added to its controlled substance license. The initial product will be a PharmaDrug branded high THC oil. It is currently going through confirmatory stability testing with final results and certificates of analysis scheduled for this coming January. Once launched, PharmaDrug and its Danish supply partner have planned to introduce other oils including a balanced CBD / THC oil.

While the Company recently made the decision to focus its growth on cannabis oils and extractions, management believes the outcome of the recent election and the likelihood of adult use on the horizon requires a renewed focus on cannabis flowers. As expected, recent trends showed that cannabis oil growth is accelerating and is on a path to overtake flowers at some point in the future. That being said, the introduction of adult use should reignite the flower market. As such, the Company has resumed discussions to introduce a unique brand of flower to the German market. Such a product can either take the form of a third-party brand with an exclusive relationship and marketing sovereignty or a unique white label product that will carry the PharmaDrug brand.

Daniel Cohen, CEO of PharmaDrug commented, “We are extremely excited to be able to introduce new products in the immediate to short term. Adult use cannabis in Germany is a game changer and the next eighteen months will be a crucial time for strategic positioning. We are confident that the Company is making the right moves to increase its pharmacy network and establish PharmaDrug as a recognized brand in the German cannabis market.”

On a final note, PharmaDrug was able to increase its ownership of Pharmadrug Production to 100% at the end of August. The Company had originally purchased 80% of the German distributor in May of 2019. The previous owner and holder of the final 20% went through some personal financial difficulties thereby enabling PharmaDrug to purchase the remaining equity stake at a sharp discount to both IFRS book value and what management believes to be fair market value. PharmaDrug’s management and board believe this opportunity came at the right time given the current German political landscape and high potential for the introduction of legal adult use cannabis.

German Adult Use Legalization

Following the recent German federal elections that took place on the 26th of September, a new coalition government is expected to be formed by the “Traffic Lights” group. The coalition was so named due to the colours of the red Social Democrats, yellow Free Democrats and the Green Party. The formal coalition agreement is expected by the end of November with an official government to follow in the first half of December. All three parties support the legalization of adult use cannabis. While it’s a fundamental platform for the Green Party, it is believed that the other two groups support it due to the need for additional government revenue in light of a strong campaign promise for no new additional taxes.

Discussions so far have pointed to a form of a cannabis control act. This would imply a regime where cannabis remains a controlled substance that would be subjected to stricter controls than alcohol or tobacco. The Green Party is advocating for specialty stores while the more conservative Free Democrats would prefer sales to remain in pharmacies. Regardless of the end retail model, two major themes have emerged. Firstly, there is a strong likelihood that adult use will be legalized in the next couple of years; and secondly, it will probably remain a controlled substance but with expanded access. This would imply that the current supply chain regulatory framework will remain in place and that the importation and distribution of cannabis will continue to require a narcotics or controlled substance license. A license that the Company currently has with Pharmadrug Production.

About PharmaDrug Inc.

PharmaDrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs. PharmaDrug owns 100% of Pharmadrug Production GmbH (“Pharmadrug Production”), a German medical cannabis distributor, with a Schedule I European Union narcotics license and German EuGMP certification allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the European Union. PharmaDrug recently acquired Sairiyo Therapeutics (“Sairiyo”), a biotech company that specializes in researching and reformulating established natural medicines with a goal of bringing them through clinical trials and the associated regulatory approval process in the US and Europe. Sairiyo is currently developing its patented reformulation of cepharanthine, a drug that has shown substantial third party validated potential for the treatment of Covid-19 and rare cancers. Sairiyo is also conducting R&D in the psychedelics space for the treatment of non-neuropsychiatric conditions. The Company also owns 100% of Super Smart, a company building a vertically integrated retail business with the goal to elevate the use of functional mushrooms, and psilocybin mushrooms where federally legal, as natural based medicines.

For further information, please contact:

Daniel Cohen, Chairman and CEO
dcohen@pharmadrug.co
(647) 202-1824

Caution Regarding Forward-Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains “forward-looking information” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this press release contains forward-looking information in relation to: the development and commercialization of cepharanthine, the results of the Company’s research and development in the psychedelics space and the development of the Supersmart business . This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to the ability of the Company to successfully execute on its plans for the Company and its affiliated entities; the ability to obtain required regulatory approvals and the Company’s continued response and ability to navigate the COVID-19 pandemic being consistent with, or better than, its ability and response to date.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company’s future operations; competition; changes in legislation affecting the Company; the ability to obtain and maintain required permits and approvals, the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions; and a deterioration of financial markets that could limit the Company’s ability to obtain external financing.

A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.