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Blackhawks Mindbio Therapeutics Announces Investment in Health Research Platform Quantified Citizen, a Health Technology Company Disrupting and Decentralizing Clinical Research

Blackhawks Mindbio Therapeutics Announces Investment in Health Research Platform Quantified Citizen, a Health Technology Company Disrupting and Decentralizing Clinical Research

Vancouver, British Columbia – TheNewswire – March 15, 2022 – Blackhawk Growth Corp. (CSE:BLR); (Frankfurt:0JJ) (the “Company” or “Blackhawk”) is pleased to report that MindBio Therapeutics (“MindBio”) has co-invested in Quantified Citizen’s (quantifiedcitizen.com) latest funding round with other notable investors around the world. The investment was funded from MindBio existing working capital.

Quantified Citizen is a leading mobile health research platform with over 52,000 users and over 17,000 participants in their global microdosing study, which was published in the prestigious science journal Nature Scientific Reports.

MindBio is in the final completion stages of a world first Phase 1 clinical trial microdosing LSD to patients at home. Co-founder of MindBio, Justin Hanka said “We are impressed with the extensive work that Quantified Citizen is doing in decentralized clinical trials and we are excited to invest and participate in their journey and to explore synergies in our respective microdosing clinical trials.  Data is the key to developing safe and effective treatment strategies and understanding the nuances of the effects of psychedelic medicines on patient health”.

Quantified Citizen has created an innovative health technology platform that seeks to democratize scientific discovery through digitized health measures and a community of professional researchers and passionate citizen scientists. “We envision a world where doing scientifically valid health research is as fast and easy as creating a website, with the same global reach. Where scientific tinkering and self-examination are normalized, vastly accelerating the pace of discovery by unlocking unexamined data,” shares co-founder and CEO Eesmyal Santos-Brault.

MindBio is working towards creating a safe and effective microdosing regimen using psychedelics that can be prescribed by doctors to patients in the primary health care system with the aim of changing the course of mental health.  

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, Stable Foods Co., MindBio Therapeutics, Digital Mind Technologies as well as an equity position in Gaia Grow Corp. (CSE:GAIA).

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A  

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to transaction and future operations of MindBio Therapeutics Pty Ltd. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Copyright (c) 2022 TheNewswire – All rights reserved.

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Blackhawk Growth Closes Investment in Stable Foods

Blackhawk Growth Closes Investment in Stable Foods

Vancouver, British Columbia – TheNewswire – March 11, 2022 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (OTC:BLRZF) (Frankfurt:0JJ) (the “Company” or “Blackhawk”), is pleased to announce that the Company has completed the acquisition of the remaining share capital of Stable Foods Co. (formerly known as NuWave Foods).

“With the closing of the transaction, Stable Foods is finally a wholly owned subsidiary of Blackhawk” said Frederick Pels, CEO of Blackhawk Growth Corp. “Stable Foods is expected to be a significant asset and I look forward to updating shareholders with its progress over the coming months.”

The Transaction

Pursuant to the terms of a share purchase agreement, dated February 21, 2022, the Company has acquired the remaining 49% interest of Stable Foods Co. it did not already own and has issued 3,200,000 common shares to the existing shareholders of Stable Foods Co. at a deemed price of $0.41 per share. A 120,000 share finders’ fees was paid to an arms-length third-party in connection with closing of the acquisition.

The Company is at arm’s length from Stable Foods Co. and its shareholders. The acquisition of the remaining interest neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with completion of the acquisition, the Company will not be assuming any additional debts or obligations and Stable Foods Co. will continue to operate as a wholly-owned subsidiary of the Company.

Stable Foods Co. will continue to form a key part of the Company’s existing portfolio of investments. Stable Foods Co.’s existing management team led by Scott Manley will continue to retain responsibility for overseeing day-to-day operations.

About Stable Foods Co.

Stable Foods Co. is a fully licenced commercial kitchen and baked goods manufacturer located in Edmonton Alberta. Stable Foods Co. has a process to create a shelf-stable baked product without the use of any preservatives. This can be applied to virtually any baked good. Given the current world climate, demand for products with shelf stability has skyrocketed. Using Stable Foods Co. considerable contacts in the food industry across North America, Stable Foods Co. is positioned to quickly be a leader in this rapidly growing space.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, Stable Food Co., MindBio Therapeutics, Digital Mind Technology as well as an equity position in Gaia Grow Corp. (CSE:GAIA) .

The company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com/

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to production and sale of the Stable Food Co. products and approval of the products. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Copyright (c) 2022 TheNewswire – All rights reserved.

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Blackhawk’s TERP Wholesale LLC Receives State-Issued Micro-Business License Allowing for Retail Delivery

Blackhawk’s TERP Wholesale LLC Receives State-Issued Micro-Business License Allowing for Retail Delivery

Vancouver, British Columbia – TheNewswire – January 12, 2022 – Blackhawk Growth Corp. (the “Company”) (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) is pleased to announce that its wholly-owned subsidiary, TERP Wholesale, LLC (“TERP”) has received its California State-issued micro-business license. In addition to allowing TERP to operate as a non-storefront retail delivery dispensary, this license provides strategic opportunities to expand in additional verticals such as manufacturing and distribution. The dispensary is located in Northern California and will be a key driver for the business. This expansion will also allow deployment of TERP’s manufactured products directly into the hands of retail customers.

Non-storefront retail delivery provides the convenience that many consumers and patients appreciate with the benefit of quality cannabis products manufactured by TERP. Cannabis delivery businesses play a critical role in the state of California and have now been labeled as an essential business, creating a large demand for home delivery. At the moment, 75% of the cities in California do not allow the sale or operations of cannabis businesses within their city. However, deliveries are able to capitalize on this opportunity and freely advertise and deliver to customers in these municipalities. Non-storefront retail sales will account for a significant portion of California’s projected $5 billion dollar marketplace this year.

“There is limitless upside with our non-storefront dispensary ” says Nate Awbrey, Founder of TERP Wholesale, LLC. “We are in a huge metropolitan market and being able to offer wholesale prices to customers will provide amazing value to end users and allow expansion of our distribution footprint, which will provide crucial support of our house-brands and suppliers. It is one of the most unique license types and allows true vertical integration by giving us the ability to buy bulk commodities, make a product, and sell that product to a customer, without necessitating transfers to other businesses, and the taxes associated with those transactions. This will create stronger profit margins for TERP, while offering prices to consumers that will be lower, providing a key market advantage. This license also completes the value-added statement to TERP’s operations of being a brand house and platform to manufacture products such as infused pre-rolls, and artisan products such as live rosin and inject them directly into the market on a wholesale and retail level” continues Mr. Awbrey.

About TERP Wholesale LLC

TERP is a fully licensed distribution center in the state of California. TERP packages and manufacturers some of the highest quality exotic brands and high THC products in the state of California. The team encompasses several distribution professionals, guided by a proven leadership with extensive experience in cannabis and quality-assured distribution. Current brands include, but are not limited to Sunshine Delight, Norcal’s Finest, California Cannabis, and Scoopz.

In addition, TERP provides supply chain solutions to the industry with the use of innovative technology, information management experts, security specialists, and sales/marketing professionals. Utilizing proven distribution methods, TERP’s model is based on a perishable supply chain strategy that emphasizes the importance of quality assurance and customer satisfaction.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, MindBio Therapeutics, Digital Mind Technology as well as an equity position in Gaia Grow Corp. (CSE:GAIA) .

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A  

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Corporation within the meaning of applicable securities laws. The Corporation provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Corporation ’s public filings under the Corporation’s SEDAR profile at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Blackhawk’s TERP Wholesale LLC Reports Unaudited $2,503,133 in Gross Revenue for Nine Months Ended September 30th, 2021

Blackhawk’s TERP Wholesale LLC Reports Unaudited $2,503,133 in Gross Revenue for Nine Months Ended September 30th, 2021

Vancouver, British Columbia – TheNewswire – January 6, 2022 – Blackhawk Growth Corp. (the “Company”) (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) is pleased to provide an update on the operations of its wholly owned subsidiary, TERP Wholesale, LLC (“TERP”). The acquisition of TERP was successfully completed on December 1, 2021.  

For the nine months ended September 30, 2021, TERP reported unaudited CDN dollar results as follows:

Gross Revenue        $ 2,503,133

Gross Profit                $ 1,533,923

Net Income                $    249,838

TERP is in its fourth year of operations and has seen consistent revenue growth in each year of operations. Readers are cautioned that these figures are prepared by management and are unaudited.  Actual results may defer once an audit has been completed.

Operations Update

TERP has expanded its co-packing and transport services and has been retained by several more transport clients for its logistics arm of the business. TERP delivers products across the state for multiple nursery companies that produce clones for dispensaries along with cultivators. Recently, TERP has added two notable clients to its ever-expanding list:

Humboldt Farms:

Humboldt Farms is a major California brand. TERP will be co-packaging 200 pounds of their dried flower per week. Their flower will be packaged into 1/8th oz jars. Totaling 25,600 jars.

Rimrock Farms:

TERP will also provide co-packing and last-leg transportation for Rimrock Farms. They have two acres of cultivation and are expected to provide 100lbs per week for TERP’s services.

“I am excited to showcase the growth of TERP Wholesale” said Frederick Pels, CEO of Blackhawk Growth. “TERP continues to add significant clients to its distribution portfolio and once all of Blackhawk’s portfolio synergies are deployed, I expect to see revenues continue to increase. I cannot wait to share our progress with our shareholders over the coming quarters.”  

About TERP Wholesale LLC

TERP is a fully licensed distribution center in the state of California. TERP packages and manufacturers some of the highest quality exotic brands and high THC products in the state of California. The team encompasses several distribution professionals, guided by a proven leadership with extensive experience in cannabis and quality-assured distribution. Current brands include, but are not limited to Sunshine Delight, Norcal’s Finest, California Cannabis, and Scoopz.

In addition, TERP provides supply chain solutions to the industry with the use of innovative technology, information management experts, security specialists, and sales/marketing professionals. Utilizing proven distribution methods, TERP’s model is based on a perishable supply chain strategy that emphasizes the importance of quality assurance and customer satisfaction.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, MindBio Therapeutics, Digital Mind Technology as well as an equity position in Gaia Grow Corp. (CSE:GAIA) .

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A  

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Corporation within the meaning of applicable securities laws. The Corporation provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Corporation ’s public filings under the Corporation’s SEDAR profile at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Blackhawk Growth’s Digital Mind Technology Set to Pioneer Novel Treatment in Pain Management in Cancer Patients; Preparations for Phase 1 Clinical Trials Underway

Blackhawk Growth’s Digital Mind Technology Set to Pioneer Novel Treatment in Pain Management in Cancer Patients; Preparations for Phase 1 Clinical Trials Underway

  • To help reduce opioid reliance, misuse and abuse 
  • Improve mood and reduce risk of depression and related health disorders 
  • Help cancer patients live better with illness 

Vancouver, British Columbia – TheNewswire – December 20, 2021 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) (the “Corporation” or “Blackhawk”), is pleased to announce that its wholly-owned subsidiary, Digital Mind Technology Pty Ltd. (“DMT” or “Digital Mind”) is progressing with the technical scope for its Phase 1 clinical trial of a mindfulness-based cancer related pain management intervention. This clinical trial is set to start in Q1/2022, is fully financed and will be compliant with the U.S. Food and Drug Administration’s (FDA) protocol.

DMT’s Phase 1 clinical trial in cancer patients aims to develop a mindfulness intervention that is useful in pain management.  Pain, endured for any length of time unsustainably can result in low mood and other mental health conditions. The mindfulness intervention program will be designed to interrupt negative patterns of thoughts and behaviours that can lead to depression and other related mental health disorders.

Chronic pain is experienced by over 20% of the U.S. population, according to the U.S. National Health Interview Survey conducted by the Centers for Disease Control and Prevention (CDC) and there is a high risk of opioid over-use and abuse in patients experiencing pain. This problem is exacerbated in cancer patients who are often undertaking concurrent cancer therapies such as chemotherapy and ingesting opioids to manage pain with pain being one of the most common symptoms reported by nearly 70% of cancer patients.1 Moreover, around 24% of people diagnosed with cancer are also diagnosed with depression.2 Cancer pain remains a challenging symptom occurring long after treatment completion, with a prevalence of 20-50% in cancer survivors.3  

Dr. Russell’s leading research in cancer patients, developing mindfulness-based practices, aims to help people live better with their illness.  DMT’s Phase 1 clinical trial is also very complementary with MindBio Therapeutics’ Phase 2 psychedelics micro-dose trial for assisting patients with mental health conditions as a result of late stage cancer.

“Current treatments for managing chronic pain can cause opioid addiction problems and generally have a high side effect risk profile” says Dr. Lahiru Russell, Founder of Digital Mind. “In cancer patients, we often see health problems emerging related to medication overuse and the effects of enduring pain on mood. The aim of these clinical trials is to create an intervention accessible to patients on their own digital devices to help them cope with pain while managing their mental health and wellbeing.”

  1. Van Den Beuken-Van MH, Hochstenbach LM, Joosten EA, Tjan-Heijnen VC, Janssen DJ. Update on prevalence of pain in patients with cancer: systematic review and meta-analysis. Journal of pain and symptom management. 2016;51(6):1070-1090. e1079. 
  2. Naser AY, Hameed AN, Mustafa N, et al. Depression and Anxiety in Patients With Cancer: A Cross-Sectional Study. Frontiers in Psychology. 2021;12(1067). 

Pitman A, Suleman S, Hyde N, Hodgkiss A. Depression and anxiety in patients with cancer. BMJ. 2018;361:k1415.

Hartung TJ, Brähler E, Faller H, et al. The risk of being depressed is significantly higher in cancer patients than in the general population: Prevalence and severity of depressive symptoms across major cancer types. European Journal of Cancer. 2017;72:46-53.

  1. Gallaway MS, Townsend JS, Shelby D, Puckett MC. Peer Reviewed: Pain Among Cancer Survivors. Preventing Chronic Disease. 2020;17. 

About Digital Mind Technology Pty Ltd

Digital Mind is a clinical trial stage company developing digital interventions to treat mental health conditions. It successfully completed a pilot randomized controlled trial with 69 patients of an on-line mindfulness-based program for people diagnosed with melanoma. Digital Mind’s clinical trial protocol was developed by leading scientist Dr. Russell at a major Australian university.

Digital Mind is also working to develop digital platforms (mobile, smart watch and Web) that provides clinically proven mindfulness-based digital programs to help patients to deal with pain. These clinical programs have the potential to be provided to patients via health professionals in a clinical setting.

Digital intervention technologies are one of the fastest growth areas in the treatment and prevention of mental health conditions. Financing for technology companies that are developing applications to treat behavioural, mental and brain health exceeded $5.3-billion (U.S.) to Q3 in 2021.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, TripPharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, MindBio Therapeutics, Digital Mind Technology Pty Ltd.  as well as an equity position in Gaia Grow Corp (CSE:GAIA).

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A  

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to transaction and future operations of Digital Mind Technology Pty Ltd. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Blackhawk Growth Announces Plan to Spin-out Psychedelic Subsidiaries and Proposes 1:1 Distribution Ratio

Blackhawk Growth Announces Plan to Spin-out Psychedelic Subsidiaries and Proposes 1:1 Distribution Ratio

Vancouver, British Columbia – TheNewswire – December 15, 2021 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) ( “Blackhawk”), is pleased to announce that it intends to undertake a spin-out transaction whereby the shares of its wholly owned subsidiaries MindBio Therapeutics Pty. Ltd. and Digital Mind Technology Pty Ltd. will form an independent company to focus solely on the psychedelics business. As part of the spin-out process, a new subsidiary of Blackhawk (“SpinCo”) will be created, which will hold all of the above-named subsidiaries. SpinCo is to be renamed MindBio Therapeutics Corp.

MindBio Therapeutics Corp. will be an independent public company focused on the psychedelic sector and mental health therapies. All shareholders of Blackhawk will receive one common share in MindBio Therapeutics Corp. for every share held in Blackhawk, on a pro rata basis, based on a record date that is expected to be set in early 2022.

Shareholders must hold Blackhawk shares at the record date to qualify to receive shares of MindBio Therapeutics Corp. in the distribution. This transaction will help to unlock the substantial value of the existing investments made by Blackhawk in the psychedelics sector and will allow the business to be operated independently.

The spinout transaction is expected to complete during the second quarter of 2022 and will be subject to approvals from Blackhawk shareholders and the Canadian Securities Exchange (“CSE”).

MindBio Therapeutics Corp. will be a leading multidisciplinary company that combines clinical research from a tier one university, technology and digital therapies. It will be fully funded for its clinical trial program for Phase 2 Psychedelic clinical trials for late-stage cancer patients and Phase 1 digital health clinical trials for treating chronic pain. It is also expected to have surplus working capital which it will use towards meeting its listing requirements and may raise further funds on its own to broaden its clinical trial program and expand its psychedelic clinics internationally.

“We believe the spin-out of MindBio and Digital Mind will be very beneficial to shareholders”, said Frederick Pels, CEO of Blackhawk. “The proposed spin-out is an excellent opportunity for shareholders to maximize the value of their Blackhawk holdings. The goal of this transaction is to unlock further value of the assets by allowing it to be developed separately, in a sector focussed public company by a skilled and experienced management team. It is important to note that to become a shareholder of MindBio, investors will have to be a shareholder of Blackhawk as of the record date. I look forward to updating our shareholders as the progress of the spin-out develops.”

Colin Keating, CEO of MindBio, said: “Combining our team with leading assets in clinical trials and digital therapies, MindBio is positioned to be a leader in the area of medical psychedelics and mental therapies. The spin-out and listing of MindBio on the CSE will allow the company to accelerate expansion activities and bring new products and solutions to market for treating a variety of mental health conditions. In light of the higher company valuations of our peer group in the United States, our goal is to create more shareholder value by bringing this company to the public markets and exposing it to a much broader audience.”

Upon completion of the proposed spinout transaction, Blackhawk will continue to hold 100% interests in TERP Wholesale LLC, Trip Pharma Inc., Sac Pharma Partners Inc., NuWave Foods, Spaced Foods and Noble Hemp Line as well as an equity stake in Gaia Grow (CSE:GAIA) and a 51% interest in LeichtMind.

Proposed Management and Board of Directors of MindBio Therapeutics Corp.

It is anticipated that the board of directors and management of MindBio Therapeutics Corp. will include:

Gavin Upiter – Chairman

Mr. Upiter has over 25 years of experience leading companies in the pharmaceutical sector. Engineering qualified, prior to founding Generic Health, a leading generic pharmaceutical company that was sold to Lupin Pharmaceuticals, Mr. Upiter started his executive career at Bristol Myers Squibb. He was Australian chief executive officer of Amneal Pharmaceuticals and executive director of Slade Health, Australia’s leading hospital pharmacy chain. Mr. Upiter founded Directo, Australia’s first on-line pharmaceutical B2B (business-to-business) marketplace for pharmacies and suppliers.

Dr. Zena Burgess, PhD, FAICD,FAPS – Director

Dr. Burgess has a strong interest in the future of health care. She serves as the chief executive officer of the Australian Psychologists Society and formerly served as chief executive of the Royal Australian College of General Practitioners. She is a member of the international advisory board of Connext2MyDoctor and the telehealth influencers alliance. She is also a director of the Australian Patients Association and chair of the board subcommittee on governance and risk of the Victorian Farmers Federation. Dr. Burgess has substantial experience serving on boards of government entities. She holds a PhD in psychology from the Australian Catholic University and a Master of Business Administration from Monash University and a master of education from La Trobe University. She has a wealth of experience in health changes and strategic advocacy to governments.

Justin Hanka – Director

Mr. Hanka is in investment banking and financing of mergers and acquisitions and capital markets transactions. He is non-executive director of EonX, a financial technology company, non-executive director of Goldcar (a Europcar company listed on the Euronext in France), non-executive director of the Digital Tribes Company, an IT (information technology) digital transformation company headquartered in Sweden.

He is an experienced executive, having served as chief operating officer for iSelect and having sold Helpmechoose as its chief executive officer to Mortgage Choice. Mr. Hanka’s expertise spans the pharmaceutical and health sectors, including pharmaceuticals, pharma technologies, fintechs, digital transformation and technology, influencer marketing, health and wellness, entertainment, and e-commerce.

Colin Keating – Chief Executive Officer

Mr. Keating is an experienced chief executive officer and managing director, having led publicly listed Hogg Robinson Group Australia (London Stock Exchange) and BuyMyPlace (Australian Securities Exchange), both large, private, technology-led organizations, and has also held senior global leadership positions with the likes of American Express. With over 25 years experience in both established and scale-up businesses, Mr. Keating possesses a demonstrable record in driving growth, shaping organizational culture and delivering shareholder value.

His experience is broad and varied, having worked across multiple industries, including financial services and payments, corporate travel, property tech, health tech, data management and wealth management. Mr. Keating also has deep experience working in and advising organizations on strategic initiatives such as capital raising, merger and acquisition activities, initial public offerings, and exit strategies. Having worked in the United Kingdom, Hong Kong and the United States, Mr. Keating’s global experience will be of enormous benefit to MindBio Therapeutics as the business grows both domestically and across international markets.

About MindBio Therapeutics Pty Ltd. (“MindBio”)

MindBio is a clinical-stage drug development company that is pioneering psychedelic microdosing research and is advancing emerging therapies to treat a range of debilitating health conditions such as depression, anxiety, chronic pain, cognitive impairment and PTSD (posttraumatic stress disorder).

In a world’s first clinical trial of its kind, MindBio is currently conducting Phase 1 clinical trials, that is over 50% complete, at a tier 1 university in a safety study of 80 participants microdosing LSD to patients. The study has received regulatory approval and government funding for the importing of LSD, laboratory work using the drug and approvals for participants to be prescribed the drug; and then patients take the drug at home as they would any other medication. Approvals have also been received for two phase 2 clinical trials involving microdosing LSD in late-stage cancer patients experiencing end-of-life distress.

MindBio is also pioneering the development of microdose formulations and a range of technology and artificial intelligence applications to ensure the safe dosage, use and administration of psychedelic medicines in the community. Early indications show that LSD is tolerated well in microdoses and has a lower side effect profile than the currently prescribed antidepressant drugs. MindBio has a detailed roadmap to conduct further clinical trials, including with other psychedelic substances, and a clear plan to bring newly created intellectual property to market and commercialization.

About Digital Mind Technology Pty Ltd. (“Digital Mind”)

Digital Mind is a clinical trial stage company developing digital interventions to treat mental health conditions. It successfully completed a pilot randomized controlled trial with 69 patients of an on-line mindfulness-based program for people diagnosed with melanoma. Digital Mind’s clinical trial protocol was developed by leading scientist Dr. Russell at a major Australian university.

Dr. Russell joined the psycho-oncology research team at the Peter MacCallum Cancer Centre in Melbourne, Australia, evaluating supportive care interventions for people affected by cancer. In 2018, Dr. Russell was awarded her PhD from Deakin University, Australia. Coupling with her personal interest in mindfulness practices and her professional experience in psycho-oncology, Dr. Russell’s PhD research was designed to determine whether a mindfulness program could benefit people with melanoma.

The focus of the program was to empower participants to manage their health by promoting awareness of emotions and teaching skills to manage distressing thoughts. Central to the success of the program was the flexibility offered to participants to access the information at their own convenience. Dr. Russell is dedicated to expand from this early research to build an evidence base informing the development of self-guided interventions promoting the mental health of people affected by cancer and other chronic conditions.

Digital Mind has both the intellectual property, with over five years of quality research intellectual property and the capital to finance its operations. The company will conduct phase 1 clinical trials of mindfulness-based digital programs for people requiring pain management to avoid or reduce the impact on mental health. The clinical trials will be fully compliant with the U.S. Food and Drug Administration’s (FDA) protocol.

Digital Mind is also working to develop digital platforms (mobile, smart watch and Web) that provides clinically proven mindfulness-based digital programs to help patients to deal with pain. These clinical programs have the potential to be provided to patients via health professionals in a clinical setting.

Digital intervention technologies are one of the fastest growth areas in the treatment and prevention of mental health conditions. Financing for technology companies that are developing applications to treat behavioural, mental and brain health exceeded $5.3-billion (U.S.) to Q3 in 2021.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, MindBio Therapeutics and Digital Mind Technology.

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A  

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to the proposed spinout transaction and future operations of Digital Mind Technology Pty Ltd. and MindBio Therapeutics Pty Ltd. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Blackhawk Growth to Complete Strategic Investment of Digital Mind Technology; Fully Funds Phase 1 Clinical Trial for Digital Mind and Phase 2 Clinical Trial for MindBio Therapeutics

Blackhawk Growth to Complete Strategic Investment of Digital Mind Technology; Fully Funds Phase 1 Clinical Trial for Digital Mind and Phase 2 Clinical Trial for MindBio Therapeutics

Highlights:

  • Complementary acquisition of digital wellness company with AUD$2.5M cash on hand 
  • Digital Mind Technology has a fully funded Phase 1 Clinical Trial ongoing 
  • Adds several new high profile and leading institutional psychedelic funds as Blackhawk shareholders 
  • MindBio Therapeutics fully funded Phase 2 Clinical Trials 
  • Blackhawk holding leading assets in legal psychedelic and mental health therapies 

Vancouver, British Columbia – TheNewswire – December 7, 2021 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) ( “Blackhawk”), is pleased to announce that it has entered into a binding share purchase agreement, dated effective December 6, 2021, in which it will acquire 100% of the issued and outstanding share capital of Digital Mind Technology Pty Ltd (“Digital Mind”). In consideration for the acquisition, Blackhawk will issue 8,661,290 common shares to the existing shareholders of Digital Mind.

Blackhawk is also pleased to announce that MindBio Therapeutics is accelerating its clinical trial program and is now fully funded for Phase 2 Clinical Trial for microdosing of psychedelic in late-stage cancer patients. MindBio will be one of a handful of companies that is progressing to a Phase 2 clinical trial in the psychedelics sector.

Digital Mind Technology is an arms-length privately held clinical trial stage company developing digital interventions to treat mental health conditions. It successfully completed a pilot randomized controlled trial with 69 patients of an online mindfulness-based program for people diagnosed with melanoma1. Digital Mind’s clinical trial protocol was developed by leading scientist, Dr Russell, at a major Australian university.

Dr. Russell graduated with a Master in Biochemistry from the University of Geneva, Switzerland. She has worked for a decade in the pharmaceutical industry managing clinical trials. Over the years, Dr. Russell developed an interest in the psychosocial adaptation to illness and strategies to manage stress-related aspects of diseases. Her studies in Epidemiology at the London School of Hygiene and Tropical Medicine (UK) stimulated her desire to undertake research in this field.

Following this, Dr. Russell joined the psycho-oncology research team at the Peter MacCallum Cancer Centre in Melbourne, Australia, evaluating supportive care interventions for people affected by cancer. In 2018, Dr. Russell was awarded her PhD from Deakin University, Australia. Coupling with her personal interest in mindfulness practices and her professional experience in psycho-oncology, Dr. Russell’s PhD research was designed to determine whether a mindfulness program could benefit people with melanoma.

The focus of the program was to empower participants to manage their health by promoting awareness of emotions and teaching skills to manage distressing thoughts. Central to the success of the program was the flexibility offered to participants to access the information at their own convenience. Dr Russell is dedicated to expand from this early research to build an evidence base informing the development of self-guided interventions promoting the mental health of people affected by cancer and other chronic conditions.

Digital Mind has both the intellectual property, with over 5 years of quality research intellectual property and the capital, with approximately AUD$2.5million in working capital to fund its operations. Digital Mind will conduct Phase 1 clinical trials of mindfulness-based digital programs for people requiring pain management to avoid or reduce the impact on mental health. The clinical trials will be fully compliant with the Food and Drug Administration’s (FDA) protocol.

Digital Mind is also working to develop digital platforms (Mobile, Smart Watch, and Web) that provides clinically proven mindfulness-based digital programs to help patients to deal with pain. These clinical programs have the potential to be provided to patients via health professionals in a clinical setting.

Digital intervention technologies are one of the fastest growth areas in the treatment and prevention of mental health conditions. Funding for technology companies that are developing applications to treat behavioural, mental and brain health exceeded
US$5.3 billion to Q3 in 20212.

“The acquisition of Digital Mind will help scale our life science and psychedelic portfolio tremendously” said Frederick Pels, CEO of Blackhawk Growth. “It will allow our psychedelic microdosing company, MindBio Therapeutics, to have close collaboration ties with Digital Mind for both product development and commercialization activities. A robust digital mental health platform will form the 3rd pillar of our multi-disciplinary mental health solution combining with our existing tier 1 university grade clinical research and established mental health clinics. We look forward to updating our shareholders with our progress over the coming weeks and months as well as details of our clinical trials shortly.”

Dr. Zena Burgess has also been appointed to Digital Mind advisory board. Dr. Burgess serves as Director of MindBio Therapeutics and is also a member of the international advisory board of Connext2MyDoctor and the telehealth influencers alliance. Dr. Burgess is currently the Chief Executive Officer of the Australian Psychologists Society. Formerly, Dr. Burgess was Chief Executive of the Royal Australian College of General Practitioners. Dr. Burgess has substantial experience serving on boards of government entities.

She holds a PhD in psychology and a Master of Business Administration and a Master of Education. She has a wealth of experience in health changes and strategic advocacy to governments.

Digital Mind also has several high-profile shareholders including some of the largest psychedelic funds who will now become shareholders of Blackhawk through this acquisition. They include for instance:

Iter Investments
Iter Investments is a venture capital firm based in the USA focused on supporting emerging companies within the psychedelic ecosystem of behavioral and mental health.

https://www.iterinvestments.com/

The Conscious Fund 
The Conscious Fund is an early-stage venture capital firm headquartered in London, United Kingdom. The firm seeks to invest in psychedelics medicine.

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Transaction Structure

In connection with the acquisition, Blackhawk will acquire all of the outstanding share capital of Digital Mind Technology Pty Ltd. in consideration for the completion of the transaction, Blackhawk is required to issue 8,661,290 common shares to the existing shareholders of Digital Mind. One-half of these shares will be subject to restrictions on resale for a period of four months and one day following issuance. No finders’ fees or commissions are payable by Blackhawk in connection with the acquisition.

Blackhawk is at arm’s length from Digital Mind and its shareholders. The transaction neither constitutes a fundamental change nor a change of business for Blackhawk, nor is it expected to result in a change of control of Blackhawk within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. Completion of the acquisition remains subject to the satisfaction of customary closing conditions. Following completion of the acquisition, Digital Mind will expand Blackhawk’s existing portfolio of investments in the health care sector.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, and MindBio Therapeutics.

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A  

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Publications By Dr Russell

  • Russell, L., Whiffen, R., Chapman, L., Just, J., Dean, E., Ugalde, A. and White, S., 2021. Hospital staff perspectives on the provision of smoking cessation care: a qualitative description study. BMJ open, 11(5), p.e044489. DOI: 10.1136/bmjopen-2020-044489 
  • Lynch, F.A.; Katona, L.; Jefford, M.; Smith, A.B.; Shaw, J.; Dhillon, H.M.; Ellen, S.; Phipps-Nelson, J.; Lai-Kwon, J.; Milne, D.; Russell, L.; Dax, V.; Diggens, J.; Kent, H.; Button-Sloan, A.; Elliott, J.; Shackleton, M.; Burridge, H.; Ftanou, M. Feasibility and Acceptability of Fear-Less: A Stepped-Care Program to Manage Fear of Cancer Recurrence in People with Metastatic Melanoma. J. Clin. Med. 2020, 9, 2969. DOI: 10.3390/jcm9092969 
  • Russell, L., McIntosh, R., Martin, C., Scott J., Kheng Soo W., Zappa B., Haynes K., Livingston PM. Ugalde, A. A model of cancer survivorship care within a community health setting: the Good Life Cancer Survivorship program. Journal of Cancer Survivorship. 2019 DOI: 10.1007/s11764-019-00821-6 
  • Russell, L., Ugalde, A., White, V., Pitcher, M., Jorgensen, S., Whitfield, K., … Livingston, P. Relevance of mindfulness practices for Culturally And Linguistically Diverse cancer populations. PsychoOncology, 2019 DOI: 10.1002/pon.5221 
  • Ugalde A, Haynes K, White V, Russell L, Livingston PM. “An Ambition to Make People Feel at Home” or “The Emperor’s New Clothes”? Professional Stakeholder Views of Wellness Centres in Cancer Care. European Journal of Cancer Care. 2019 DOI: 10.1111/ecc.13096 
  • Russell L, Pascoe MC, Seymour JF, Aranda S, Butow P, Gough K, Schofield P. The trials and tribulations of conducting an m-health pilot randomized controlled trial to improve oral cancer therapy adherence: recommendations for future multisite, non-drug clinical trials. BMC research notes. 2019 Dec;12(1):226. 
  • Russell L, Ugalde A, Orellana L, Milne D, Krishnasamy M, Chambers C, Austin D and Livingston P M, A pilot randomised controlled trial of an online mindfulness-based program for people diagnosed with melanoma, Journal of Supportive Care in Cancer. 2018 DOI: 10.1007/s00520-018-4574-6  
  • Russell L, Ugalde A, Milne D, Austin D and Livingston P M, Digital Characteristics and Dissemination Indicators to Optimize Delivery of Internet-Supported Mindfulness-Based Interventions for People With a Chronic Condition: Systematic Review, JMIR Mental Health. 2018 DOI: 10.2196/mental.9645  
  • Russell L, Ugalde A, Milne D, Krishnasamy M, Chung Seul O E, Austin D, Chambers R, Orellana L, and Livingston PM, Feasibility of an online mindfulness-based program for patients with melanoma: study protocol for a randomised controlled trial, Trials. 2018 Dec; 19(1):223 
  • Pereira-Salgado A, Westwood JA, Russell L, Ugalde A, Ortlepp B, Seymour JF, Butow P, Cavedon L, Ong K, Aranda S, Breen S.,… Schofield P, Mobile Health Intervention to Increase Oral Cancer Therapy Adherence in Patients With Chronic Myeloid Leukemia (The REMIND System): Clinical Feasibility and Acceptability Assessment, JMIR mHealth and uHealth. 2017. DOI: 10.2196/mhealth.8349 
  • Russell L, Orellana L, Ugalde A, Milne D, Krishnasamy M, Chambers R, Livingston PM., Exploring Knowledge, Attitudes, and Practice Associated With Meditation Among Patients With Melanoma, Integrative Cancer Therapies, 2017. DOI: 10.1177/1534735417699514 
  • Jefford M, Gough K, Drosdowsky A, Russell L, Aranda S, Butow P, Phipps-Nelson J, Young J, Krishnasamy M, Ugalde A, King D., … and Schofield P, A Randomized Controlled Trial of a Nurse-Led Supportive Care Package (SurvivorCare) for Survivors of Colorectal Cancer, Oncologist, 2016. DOI: 10.1634/theoncologist.2015-0533 
  • Russell L, Gough K, Drosdowsky A, Schofield P, Aranda S, Butow PN, Westwood JA, Krishnasamy M, Young JM, Phipps-Nelson J, King D. Jefford M, , Psychological distress, quality of life, symptoms and unmet needs of colorectal cancer survivors near the end of treatment, Journal of Cancer Survivorship, 2015. DOI: 10.1007/s11764-014-0422-y  
  • Jefford M, Mann GB, Nolte L, Russell L, Brennan M., Follow-up of Women with Early Stage Breast Cancer. Current Breast Cancer Reports, 2014. DOI:10.1007/s12609-014-0150-3 
  • Jefford M, Aranda S, Gough K, Lotfi-Jam K, Butow P, Krishnasamy M, Young J, Phipps-Nelson J, Russell L, King D, Schofield P., Evaluating a nurse-led survivorship care package (SurvivorCare) for bowel cancer survivors: study protocol for a randomized controlled trial, Trials 2013. DOI: 10.1186/1745-6215-14-260 

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to transaction and future operations of Digital Mind Technology Pty Ltd. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Blackhawk Growth Completes Investment in California-based Licensed Distribution Center – Terp Wholesale, Llc, Company Generated Cad$3,902,888 Revenue in 2020

Blackhawk Growth Completes Investment in California-based Licensed Distribution Center – Terp Wholesale, Llc, Company Generated Cad$3,902,888 Revenue in 2020

Vancouver, British Columbia – TheNewswire – December 1, 2021 – Blackhawk Growth Corp. (the “Company”) (CSE:BLR) (Frankfurt:0JJ) (CNSX:BLR.CN) is pleased to announce that it has signed a definitive purchase agreement for the acquisition of all the outstanding membership interests in TERP Wholesale, LLC (“TERP”). The acquisition was previously announced on April 15, 2021 in connection with the signing of a letter of intent.  Since the signing of the letter of intent, the Company and TERP completed their mutual due diligence and negotiated the definitive agreement.

The Company will acquire all of the outstanding membership interests in TERP in consideration for $2,500,000 CDN which will be satisfied through the issuance of common shares of the Company to the existing members of TERP at a deemed price of $0.69 per share. Blackhawk will issue a total of 3,623,188 shares in connection with completion of the acquisition. Blackhawk is at arms-length from TERP and each of the members of TERP.

TERP continues to be cash flow positive, for the year ended December 31, 2020, TERP reported unaudited gross revenue of CDN$3,902,888.  Readers are cautioned that these figures are prepared by management and are unaudited.  Actual results may defer once an audit has been completed.

TERP continues to show significant results through 2021. The Company will provide a corporate update in the near future. TERP is in its fourth year of operations and has seen consistent revenue growth in each year of operation.

TERP Wholesale is a fully licensed distribution center in the State of California. TERP packages and manufacturers some of the highest quality exotic brands and high THC products in California. Distribution professionals, guided by a proven team with extensive experience in cannabis and quality-assured distribution. Current brands include, but are not limited to Sunshine Delight, Norcal’s Finest, California Cannabis, and Scoopz.

TERP provides supply chain solutions to the industry with the use of innovative technology, information management experts, security specialists, and sales/marketing professionals. Utilizing proven distribution methods, TERP’s model is based on a perishable supply chain strategy that emphasizes the importance of quality assurance and customer satisfaction. TERP is a one stop shop for Category Management, Compliance & Regulatory, Warehousing, Sales & Marketing.

“TERP is a welcome addition to Blackhawk’s portfolio” said Frederick Pels, CEO of the Company. “Our cannabis assets along with TERP will uniformly benefit from this acquisition, as we look forward to continued growth and record-breaking revenues. The ability to manufacture and directly distribute products and brands in California’s massive market is a game changer for us and I cannot wait to share our progress with our shareholders over the coming quarters.”

Following completion of the acquisition, TERP Wholesale LLC will form part of the Company’s existing portfolio of investments in the health care and cannabis sector. TERP’s existing board and management will continue to retain responsibility for overseeing day-to-day operations.

About Blackhawk Growth

Blackhawk is an investment holding company looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, and MindBio Therapeutics. Blackhawk continues to bring its investments to cash flow and is growing at an exceeding pace.

The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A

Please join the conversation on our Blackhawk group supporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com.

For further information please contact:

Frederick Pels, Chief Executive Officer

(403)-991-7737

fred@blackhawkgrowth.com

Cautionary Note Regarding Forward-Looking Statement

 

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Corporation within the meaning of applicable securities laws. The Corporation provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Corporation ’s public filings under the Corporation’s SEDAR profile at www.sedar.com. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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 statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.