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Lobe Sciences Enters into Joint Venture with Virtual Psychedelics Incorporated to Develop Multi-Sensory Pods for Clinical Psychedelic Use

Development of Krysalis(TM) Therapeutic Pod to Deliver Headset-free Virtual Experience with Biometric Monitoring

Vancouver, British Columbia–(Newsfile Corp. – April 27, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce that it has entered into an agreement dated April 26th, 2021 with Virtual Psychedelics Incorporated (“VPI“) and certain industry-leading pioneers, including Hollywood director Brett Leonard and researcher and USC professor Dr. Skip Rizzo, with respect to the joint design, development and commercialization of a new psychedelic/virtual experience (“VX”) pod (the “KrysalisTM Pod”). The KrysalisTM Pod will be designed to be powered by a custom tech stack incorporating advanced display technology and state-of-the-art bio-monitoring with the  goal of  improving  psychedelic therapy by optimizing  set,  setting  and  the overall experience for clinical and other uses. The KrysalisTM Pod will be designed as a headset-free, virtual experience that  uses multi- sensory stimulation to create an application that can offer treatment options for cognitive, psychological, motor and functional impairments across a wide range of clinical health conditions.

Philip Young, CEO and director of Lobe, commented: “Lobe is extremely pleased to partner with industry veterans such as Brett Leonard and Dr. Skip Rizzo, to be at the forefront of psychedelic research, development and treatment. We believe this technology will be able to assist those suffering from depression, PTSD and other mental health issues. The KrysalisTM Pod is being designed as a therapeutic system capable of delivering an easy, immersive media experience, while simultaneously collecting critical biometric data in a safe and monitored environment.”

Dr. Albert “Skip” Rizzo

 

Dr. Skip Rizzo’s work in clinical virtual reality (“VR”) has been used over the last 20 years for treating veterans with PTSD, assessing children with ADHD, and for reducing social anxiety in persons on the autism spectrum. Dr. Rizzo is the author of over 300 peer-reviewed publications and has been the winner of 30 awards and distinctions, largely in the space of VR for mental health. Dr. Rizzo is a research professor at the University of Southern California’s Keck School of Medicine, Department of Psychology and Behavioral Sciences and Director for Medical Virtual Reality at the Institute for Creative Technologies. Further information about Dr. Rizzo is available at https://ict.usc.edu/profile/albert-skip-rizzo/.

Brett Leonard

 

Hollywood director Brett Leonard is a thought-leader and sought-after speaker in the VR industry, and is credited with helping to popularize VR in the early 1990s through sci-fi classics like Lawnmower Man and Virtuosity. Brett was named by the Producer’s Guild of America as one of its “Digital 25” (among other digital media leaders including James Cameron, Ridley Scott and Mark Zuckerberg), which recognizes the contributions of leading visionaries, innovators and producers to the advancement of storytelling through digital media. Brett has remained on the forward-edge of virtual cinematic storytelling with his new VX World-Building/Transmedia production shop, Studio Lightship, co-founded with social network/transmedia pioneer Josh Shore.

Terms of the Agreement

 

The joint venture will be operated under a company to be owned 50% by Lobe and 50% by VPI and expected to be called Krysalis VX Corp. (“Krysalis VX“), or such other name as may be agreed by the parties. Krysalis VX will be operated by an experienced management team comprised of Josh Shore (Chief Executive Officer) and the other principals of VPI, namely Brett Leonard, Dr. Albert (Skip) Rizzo and William Alfonso (together, the “VPI Principals“).

Under the terms of the agreement pursuant to which Krysalis VX will be governed, Lobe and VPI will have equal rights of representation on the board of Krysalis VX, with VPI and its principals contributing its experienced management expertise, while Lobe will contribute US$250,000 in cash as well as issue 5,000,000 common shares of Lobe, at a deemed price per share of CAD$0.20. The Lobe shares will be sold (subject to applicable hold periods and certain agreed restrictions on sale) in order to generate cash to fund Krysalis VX’ initial business expenditures. Lobe has also committed to providing US$1,500,000 to Krysalis VX pursuant to a secured line of credit, which will

 

only be drawn when the initial funding contributions are expended and after Krysalis VX has detailed plans to file provisional patents relating to the business.

 

In connection with the agreement, each of the VPI Principals will be granted 150,000 non-transferable common share purchase warrants of Lobe, exercisable for a period of two years from the date of issuance at a price of $0.20 per share. Lobe will also issue 500,000 common shares to certain finders in connection with the transaction, at a deemed price of $0.20 per share. All Lobe securities issued or issuable will be subject to a statutory hold period of four months and a day from the date of issuance and, as applicable, resale restrictions required under U.S. securities laws.

 

The securities described in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements.

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry-leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

 

Lobe Sciences Ltd. Philip J. Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT RESPONSIBILITY FOR, THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, its joint venture with VPI regarding Krysalis VX and the technology expected to be developed and commercialized, including systems, treatments and benefits thereof, statements regarding research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including that the expected benefits to be derived from the joint venture with VPI may not materialize as expected, including that Krysalis VX may be unsuccessful in designing and commercializing the KrysalisTM Pod and/or the risk that the Company may not realize a return on its investment in Krysalis VX; risks relating to changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs, therapeutic systems and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize as expected, and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable securities laws.

4/27/2021 4:39:00 PM

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Lobe Sciences Appoints Benjamin Kelmendi, MD from Yale University to Scientific Advisory Board

Appointment of Dr. Kelmendi, Assistant Professor of Psychiatry at Yale University and co-founder of the Yale Psychedelic Science Group, brings another experienced medical professional to Lobe’s advisory team.

Vancouver, British Columbia–(Newsfile Corp. – April 20, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce the appointment of Benjamin Kelmendi, MD, Assistant Professor of Psychiatry at Yale University School of Medicine, to its Scientific Advisory Board.

 

Philip Young, CEO and Director of Lobe stated, “We are extremely pleased to welcome Ben to our Scientific Advisory Board. Dr. Kelmendi will add significant relevant experience to the team as we move through preclinical studies into human clinical trials. We look forward to working with Dr. Kelmendi and the team at the Yale Psychedelic Science Group.”

 

Dr. Kelmendi is a board-certified psychiatrist and is an Assistant Professor in the Department of Psychiatry at the Yale University School of Medicine and is also a co-founder of the Yale Psychedelic Science Group. His primary clinical expertise is in post-traumatic stress disorder (“PTSD“), depression, obsessive-compulsive disease (“OCD“). He leads a research program focused on the therapeutic potential of psychedelic medicines, across a range of psychiatric diagnosis. He is currently investigating the effects of psilocybin on the neurocircuitry implicated in the development, maintenance, and treatment of patients with OCD. He is also exploring the effects of MDMA on brain activation and neural network organization in PTSD to understand the relationship between MDMA-induced neural changes and the acute cognitive and behavioral effects of the drug.

 

Benjamin Kelmendi, MD stated, “The re-emergence of psychedelic medicine as a respected area of research has undergone a protean trajectory. In the most recent revival of investigations into potential therapeutic benefits of long-maligned psychedelic substances, we are now revisiting past work in this area completely differently with a heightened sense of scientific responsibility, knowledge, and technology. I am excited by the renewed interest in the potential of psychedelic substances, both as therapeutic agents and as tools to provide insight into the human brain and mind’s inner workings. I look forward to working with the Advisory Board and the Lobe team as we all work together to ethically develop psychedelic therapies for mental illness.”

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.

Philip J Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, research and development using psychedelic compounds, the development of innovative devices and delivery mechanisms to improve mental health and wellness, moving through preclinical studies to human clinical trials, and working with

 

the team at the Yale Psychedelic Science Group, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

4/20/2021 10:54:00 AM

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Lobe Sciences to Present at the Emerging Growth Conference on April 14, 2021

Lobe invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation at the Emerging Growth Conference

Vancouver, British Columbia–(Newsfile Corp. – April 12, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce that it has been invited to present at the Emerging Growth Conference on April 14, 2021.

This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s CEO and Director, Philip Young in real time.

 

Lobe will be presenting at 10:30 am Eastern time for 45 minutes. Mr. Young will provide a full presentation and will be available for questions after his presentation.

 

Interested participants are encouraged to register in advance at: https://goto.webcasts.com/starthere.jsp?ei=1451311&tp_key=5b36cea9ad&sti=lobe

 

An archived webcast will also be made available on EmergingGrowth.com after the live event.

 

About the Emerging Growth Conference

 

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.

 

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of individual and institutional investors, as well as investment advisors and analysts.

 

All sessions will be conducted through video webcasts and will take place in the Eastern time zone.

 

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.

Philip J Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, the development of innovative devices and delivery mechanisms to improve mental health and wellness are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that

 

assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

4/12/2021 10:54:00 AM

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Lobe Sciences Appoints Ilan Hayman to Advisory Board

Vancouver, British Columbia–(Newsfile Corp. – April 6, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce the appointment of Mr. Ilan Hayman, B.IS, ITIL Cert, M. ProjMngt to its Advisory Board.

Philip Young, CEO and Director of Lobe states, “We are very pleased to welcome Ilan to our Advisory Board. Ilan’s operational experience in healthcare will complement our research and development expertise with psychedelic medicine. Mental health is a priority worldwide and psychedelic medicine has been at the forefront of research initiatives. Ilan’s association with Mind Medicine Australia will allow Lobe to be introduced to this organization’s mandate and we are excited about fostering this relationship. Ilan is our latest addition to supplement our team and enhance our international reach. We are committed to strengthening our team and relationships to build the business and achieve the Company’s key priorities.”

 

Ilan is an experienced operations executive with a demonstrated history of working in the healthcare industry and IT sector. Since 2019 he has been the Operations Manager with Mind Medicine Australia (“MMA“). MMA is a charity that helps to alleviate the suffering caused by mental illness in Australia through expanding the treatment options available to medical practitioners and their patients by establishing safe and effective psychedelic assisted treatments to cure a range of mental illnesses. The charity was founded by Tania de Jong AM and Peter Hunt AM. It acts as a central node between stakeholders to facilitate the delivery of psychedelic-assisted treatments in Australia. This is accomplished by bringing together the key stakeholders including academia, government, medical practitioners, technology, philanthropy, and culture. Mind Medicine Australia is focused specifically on the clinical application of medicinal psilocybin and medicinal MDMA for certain mental illnesses and supports and funds clinical psychedelic research, conducted by independent institutions and affiliates, working towards regulatory-approved and evidence-based psychedelic-assisted therapies.

Ilan Hayman states, “It is a pleasure to join Lobe during this exciting time for the company. With the current preclinical trials with the University of Miami and the development of its nasal mist delivery device I look forward to working with the team to position the company as a leader in the space.”

 

Prior to joining MMA, Ilan oversaw a group of national medical centers and was involved in general management of healthcare businesses including a private cosmetic surgery chain and led the development and commercialization of a line of skincare products.

 

Ilan is a board member for several not-for-profit organizations. He also holds Bronze and Silver Duke of Edinburgh awards and brings along a unique set of community and industry related experience. Ilan received his Bachelor Degree in Information Systems from the Macquarie University Australia as well as a Masters Degree focused on Project Management from Torrens University Australia.

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.

Philip J. Young

Chief Executive Officer and Director info@lobesciences.com

Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward-Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, research and development using psychedelic compounds, the development of innovative devices and

 

delivery mechanisms to improve mental health and wellness, the ability to foster a relationship with Mind Medicine Australia and enhance its international reach, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

4/6/2021 10:53:00 AM

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Lobe Sciences Becomes Enterprise Member of NFL Alumni Association

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce it has become an official Enterprise Member of the NFL Alumni Association.

As an Enterprise Member of The NFL Alumni Association (the “NFLAA“), Lobe is able to engage with those who built the NFLAA brand, and who’s clients and customers readily recognize their charitable work.

 

Mr. Bart Oates, Esq., three time Superbowl champion and President of the NFLAA, is a member of Company’s Advisory Board, as announced by the Company on March 3, 2021. The Company’s focus on mental health issues includes mild traumatic brain injury and PTSD, which can be prevalent in contact sports.

 

Philip Young, CEO and Director of Lobe stated, “As an Enterprise Member of the NFL Alumni Association, we look forward to supporting their organization and working with the team and their advisors helping to identify more efficient ways of identifying players at risk of or battling various mental health challenges, traumatic brain injuries, and PTSD.”

 

“We are privileged to have Lobe join our enterprise program to help us “Care For Our Own”. Their scientific focus on developing therapies and devices to combat mental health diseases is very compelling to our members and we look forward to being a part of their scientific developments,” said Bart Oates Esq., President of the NFL Alumni Association and Member of Lobe’s Advisory Board.

 

NFLAA is a non-profit organization founded in 1967 that is comprised of former NFL players, coaches, staffers, cheerleaders, spouses, and associate members whose mission is to serve, assist and inform former players and their families. It offers a variety of medical, financial, and social programs to help members lead healthy, productive and connected lives, as well as community initiatives under its “Caring For Kids” programs where player alumni give back to their local communities by raising funds for youth and veteran related charities through 35 regional chapters.

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.

Philip J Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, identifying more efficient ways of identifying players at risk of or battling various mental health challenges, traumatic brain injuries, and PTSD and the development of therapies and devices to combat mental health diseases, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that Company may not be able to attain the

 

Company’s corporate goals and objectives ; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

3/31/2021 10:53:00 AM

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Lobe Sciences Added to Horizons Psychedelic Stock Index ETF

Vancouver, British Columbia–(Newsfile Corp. – March 29, 2021) – Lobe Sciences Ltd. (“Lobe” or the “Company“) (CSE: LOBE) (OTC Pink: GTSIF) is pleased to announce the Company has been added to the Horizons Psychedelic Stock Index ETF (“PSYK” or the “ETF“) and its underlying index, the Horizons North American Psychedelics Index (the “Index“).

Philip Young, CEO and Director of Lobe, stated, “We are pleased to have been added to the ETF and Index, and look forward to the added market exposure this will bring the Company. Lobe continues to pursue its objectives for the development of psychedelics to improve mental health and wellness.”

 

PSYK is an ETF which seeks to replicate, to the extent possible and net of expenses, the performance of the Index. The Index is a proprietary index owned and operated by Horizons ETFs, and Solactive AG is the independent calculation agent. The Index, which rebalances each calendar quarter, has been designed to provide a measure of the performance of North American publicly-listed life sciences companies focused on psychedelic medicines, and other companies with business activities in the psychedelics industry.

 

Information on PSYK is available at https://www.HorizonsETFs.com/PSYK. The current holdings of the Index are available at: https://www.solactive.com/ordinary-index-rebalancing-in-the-north-american-psychedelics-index-march-2021/.

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.

Philip J Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the Company’s development of psychedelics to improve the health of patients, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

3/29/2021 10:52:00 AM

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Lobe Sciences Completes Previously Announced Sale of Cannabis Assets to Ionic Brands

Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value

Vancouver, British Columbia–(Newsfile Corp. – March 8, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands“) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz“) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction“).

Philip Young, CEO and Director of Lobe stated, “This sale provides us with substantial non-dilutive capital to grow our business and accelerate our research and device development. Ionic Brands has been expanding their footprint in the US cannabis market, and this sale allows Lobe to continue to be invested in this exciting sector. The Company continues to focus on its psychedelics business segment, and plans to provide an update on its pre-clinical studies with the University of Miami in the near future. The Company intends to capitalize on the growing mental health sector including the use of other psychedelics with and without NAC using our proprietary nasal delivery device.”

Transaction Highlights:

 

Strengthens Lobe’s balance sheet with $1.75 million cash on closing

Provides equity ownership in Ionic Brands through the issuance of class E non-voting preferred shares which carry a two-year 13% annual, cumulative, preferential dividend on the issue price per share of $0.30, and which are convertible into common shares of Ionic Brands on a one-for-one basis, as well as additional equity upside through warrants to purchase up to 4,000,000 common shares (subject to Lobe’s covenant not to convert if conversion would result in Lobe becoming an insider of Ionic Brands based on post-conversion beneficial ownership)

Commitment from Ionic Brands to significantly improve its balance sheet through the conversion of outstanding Debentures

Lobe’s subsidiary vendor issued a US$50,000 promissory note from Ionic Brands bearing interest at 7% and maturing in two years, secured against the purchased assets

Allows Lobe to continue to be exposed to the cannabis sector and the broader mental health and wellness industry utilizing transformative medicine, while permitting Lobe to focus on its core business relating to R&D of psychedelic medicines Provides Lobe with certain minority board representation rights with respect to the board of directors of Ionic Brands

 

Further to the Company’s press release dated February 23, 2021, in connection with the closing of the Transaction, the Company amended the terms of the asset purchase agreement governing the Transaction. In particular, and following Ionic Brand’s news release on March 2, 2021 confirming that it had closed a $14.7 million oversubscribed private placement and had entered into debenture conversion and voting support agreement with holders of 80.2% of the outstanding principal amount of secured convertible debentures (the “Ionic Debentures“), Ionic Brands covenanted in favour of Lobe’s vendor subsidiary to convert, within 60 days following the date hereof, at least 90% of the principal amount of the outstanding Ionic Debentures, resulting in obligations outstanding (including principal and accrued interest, if any) of no more than $1,800,000 as at the date of conversion. Furthermore, Ionic Brands has agreed to certain minority board nomination rights in favour of Lobe.

For further details regarding the Transaction, please refer to the news release of the Company dated February 23, 2021 and the asset purchase agreement dated February 22, 2021 between the Company’s subsidiary vendor and Ionic Brands in respect of the Transaction, copies of which are filed under Lobe’s SEDAR profile at www.sedar.com.

About Lobe Sciences Ltd.

 

Lobe Sciences is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

 

Philip J. Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, the Transaction and terms with Ionic and estimated value to Lobe, the benefits of the Transaction, including the benefits of non-dilutive capital and shareholder value to Lobe, the pursuit of other M&A initiatives, continued research and results of pre-clinical studies with the University of Miami, development of effective delivery methods and commercialization potential of the nasal mist device, research and development using NAC and psilocybin and growth of the business, are forward looking statements that are based on assumptions considered to be reasonable by management of the Company at the time such statements are made, and which involve known and unknown risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; counterparty credit risk, risks relating to ownership of securities of Ionic Brands, and the risks relating to the business of Ionic Brands and that the current board of directors of Lobe and its management may not be able to attain the Company’s corporate goals and objectives. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

 

3/8/2021 6:48:00 PM

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Lobe Sciences Appoints NFL Alumni Association President, Bart Oates Esq. to Advisory Board

Vancouver, British Columbia–(Newsfile Corp. – March 3, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce the appointment of Bart Oates Esq., President of the NFL Alumni Association, to its Advisory Board.

 

Philip Young, CEO and Director of Lobe, stated, “We are honored to welcome Bart to our Advisory Board. His first-hand experience on and off the field are tremendously valuable as we continue our research involving mild traumatic brain injuries and PTSD. These issues are prevalent in contact sports and we believe that athletes will play a prominent role in the continued acceptance of psychedelic medicines as legitimate treatment. We look forward to working with Bart as we seek to forge long- term strategic relationships.”

Bart Oates Esq. is a three-time Superbowl Champion, who graduated magna cum laude with a Juris Doctor degree from Seton Hall during his off season. Prior to his NFL career, he earned a BS in Accounting from the Marriott School of Business at BYU and was inducted into their athletic Hall of Fame in 1992. Bart was selected to five Pro Bowls during his NFL career and to the UPI All-NFC team three times. Bart is now the President of the NFL Alumni Association which offers former players a diverse package of medical, business, and legal services to help keep them and their families healthy, productive, and connected to their former teammates.

“A primary mission of NFL Alumni is “Caring for Our Own” as we inform, assist, and serve players in their post-NFL lives,” said Bart Oates Esq., President of the NFL Alumni Association. “Lobe’s research is very compelling to our association as it hits home with our network and I look forward to being a part of their team.”

About Lobe Sciences Ltd.

 

Lobe Sciences is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

3/3/2021 2:10:00 PM

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Lobe Sciences to Present at Psychedelic Capital Virtual Investor Conference

Vancouver, British Columbia–(Newsfile Corp. – February 24, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

 

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one- on-one Q&A session with the audience.

Investors can register to the event using the following link: https://microdose.buzz/shop/psychedelic-capital/psychedelic-capital-feb-2021/

 

Recent Company highlights & topics to be discussed include:

 

  • Executed definitive agreement for the $32,000,000 sale of Cowlitz Cannabis Assets;
  • The successful completion and testing of the proof-of-concept prototype of Lobe’s proprietary nasal mist device;
  • Pre-clinical study of psilocybin plus NAC for treatment of PTSD and mTBI with the University of Miami;
  • The appointment of Philip Young as CEO and Director;
  • The closing of an upsized $3,445,847 non-brokered private placement;
  • The appointment of Jonathan Gilbert as Executive

 

About Lobe Sciences Ltd.

 

Lobe Sciences is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

2/24/2021 2:10:00 PM

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Lobe Sciences Signs Definitive Agreement for Sale of Cowlitz Cannabis Assets to Ionic Brands Corp.

The transaction value of approximately $32,000,000 will significantly improve Lobe’s balance sheet with non-dilutive capital and will provide immediate shareholder value

Vancouver, British Columbia–(Newsfile Corp. – February 23, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) and Ionic Brands Corp. (“Ionic Brands“) are pleased to announce that, further to their press releases dated December 1, 2020, Lobe’s wholly owned subsidiary Green Star Biosciences Inc. has signed a definitive binding asset purchase agreement dated February 22, 2021 (the “Agreement“) with Ionic Brands with respect to the sale to Ionic Brands of certain assets held by Lobe’s subsidiary vendor relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz“), for total consideration valued at approximately $32,000,000 (the “Transaction“), based on the cash value in respect of the cash portion of the consideration and the previous closing price of the common shares of Ionic Brands (the “Ionic Brands Shares“) on the Canadian Securities Exchange in respect of the share-based consideration.

Transaction Highlights for Lobe Sciences:

 

Total $32,000,000 in sale proceeds to be received including a combination of cash, secured promissory note, and preferred shares of Ionic Brands Corp.;

 

Provides Lobe with two director representatives on Ionic’s board of directors;

 

Provides Lobe with equity ownership in Ionic Brands Corp.

 

Philip Young, CEO of Lobe states “We are extremely pleased with this transaction as we believe it is accretive to both parties. The share ownership we will have in Ionic Brands will allow Lobe to continue to benefit from Cowlitz’s growth and Ionic Brands’ entire operations in the Pacific Northwest under the experienced leadership of John Gorst. This transaction will also provide Lobe with significant non-dilutive capital which will allow the Company to continue to pursue its business objectives and other M&A initiatives in the transformative medicine industry.”

John Gorst, CEO of Ionic Brands Corp. states “This transaction will allow our shareholders to benefit from the continued growth of the Cowlitz brands. Meantime, we look forward to integrating the full suite of the Cowlitz brand assets into our portfolio offered in the Washington and Oregon markets. We look forward to strategically working with the Cowlitz operating team to bring even greater value to our shareholders in the months and years ahead as we expand our brands across the country.”

Terms of the Agreement:

 

Pursuant to the Agreement, on the closing date of the Transaction (the “Closing Date“), Lobe’s subsidiary vendor will receive consideration payable through a combination of:

 

the payment of Cdn$1,750,000 in cash;

 

the issuance 100,406,701 series E non-voting preferred shares of Ionic (each an “Ionic Brands Pref Share“). Each Ionic Brands Pref Share is exchangeable into one Ionic Brands Share on a one-for-one basis (subject to adjustment, and provided that the Company’s share ownership of Ionic Brands remains below 10% at the time of conversion) and carries an annual dividend equal to 13% for a period of two years

 

from the Closing Date, with Ionic Brands Pref Shares automatically converting to Ionic Brands Shares four years from the issuance date;

 

Lobe’s subsidiary vendor shall, immediately upon receipt of the Ionic Brands Pref Shares, convert the lesser of: (a) 9.99% of the total number of Ionic Brands Pref Shares; and (b) that number of Ionic Brands Pref Shares that would, upon conversion, result in Lobe’s subsidiary vendor holding not more than 9.99% of the outstanding Ionic Brands Share, on a post-closing basis;

 

the issuance of 4,000,000 Ionic Brands warrants (each an “Ionic Brands Warrant“), with each Ionic Brands Warrant exercisable into one Ionic Brands Share at a price of

$0.30 per Ionic Brands Share for a period of five (5) years from the Closing Date (and containing a term which prevents the exercise of Ionic Brands Warrants if, as a result of such exercise, Lobe’s subsidiary vendor would own more than 9.99% of the outstanding Ionic Brands Shares); and

 

a secured promissory note in the principal amount of USD$50,000 maturing two (2) years from the date of issue and bearing interest at a rate of 7%, secured by the Assets (as defined below).

 

All Ionic Brands Pref Shares and Ionic Brands Shares to be issued will be subject to contractual restrictions on transfer, pursuant to which 20% of the Ionic Brands Shares issued will be restricted from trading for a period of seven (7) months from the Closing Date, and further 20% releases will occur on the date that is ten (10), thirteen (13), fifteen (15) and eighteen (18) months from the Closing Date (subject to compliance with all applicable securities laws).

The assets being sold to Ionic Brands include the assignment of all property leases relating exclusively to Cowlitz’s business, the assignment of Lobe’s option agreement to acquire all of the outstanding shares of Cowlitz, certain trademarks and intellectual property related to Cowlitz, and the assignment of other contracts and rights related exclusively to Cowlitz including service contracts and equipment leases (the “Assets“).

The Transaction is subject to standard closing conditions, including receipt of applicable corporate and regulatory approvals. In addition, the Transaction is subject to Ionic Brands arranging at least 90% of their outstanding 10% debentures being converted into preferred voting shares of Ionic Brands at a price of $0.30 per share prior to the Closing Date, such that no more than $1,800,000 in debentures (including principal and accrued interest) will be outstanding on the Closing Date. Following the closing of the Transaction, Ionic Brands’ board of directors is expected to be comprised of seven (7) members and Lobe will have the right to appoint two (2) directors to the Ionic Brands board. There can be no assurances the Transaction will be completed as proposed or at all. The Company anticipates closing the Transaction prior to March 5, 2021.

About Ionic Brands Corp.

 

Ionic Brands is dedicated to building a regionally based multi-state consumer-focused cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape concentrates and edibles. The cornerstone brand of the portfolio, IONIC, is a top vaporizer brand in Washington State and has aggressively expanded throughout the Pacific Northwest of the United States. The brand is currently operating in Washington State and Oregon. Ionic Brands’ strategy is to be the leader of the highest-value segments of the cannabis market.

About Lobe Sciences Ltd.

 

Lobe Sciences is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

2/23/2021 2:09:00 PM