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Creso Pharma to enter Swiss medicinal cannabis market

Creso Pharma to enter Swiss medicinal cannabis market

Highlights:

  • Non-binding LOI secured with Innuana AG Switzerland, a licensed cannabis grower to enter the Swiss medicinal cannabis market
  • Innuana will grow medicinal cannabis based on Creso Pharma’s specifications – Creso Pharma to market to doctors and patients
  • LOI has the potential to significantly broaden Creso Pharma’s product offering for the Swiss market, with sales to add to the Company’s growing revenue profile
  • Execution of LOI follows recent Swiss law amendments providing a more favourable operating environment and highlight ongoing acceptance of medicinal cannabis
  • Initial sales focus with oncologists and oncological clinics in Switzerland – Creso Pharma will benefit from established relationships with the medical community over several years
  • Unlocks a large market opportunity for Creso Pharma –expected to be over 110,000 medicinal cannabis patients in 2022i in a market growing to $1.9Bn in value by 2028ii
  • Creso Pharma to leverage established networks with doctors and clinics in the Swiss market to drive growth
  • With the new laws, the commercial export of cannabis for medical purposes will also be permitted providing additional opportunities
  • Expansion of Swiss operations highlights the Company’s broader global scale up

Creso Pharma Limited (ASX: CPH, OTC: COPHF FRA:1X8) (‘Creso Pharma’ or ‘the Company’) is pleased to advise that it secured a non-binding Letter of Intent (“LOI”) with a licenced cannabis grower Innuana AG, Switzerland (“Innuana”) to grow and market medicinal cannabis for the burgeoning
market in Switzerland.

Innuana is focused on the research, growing, processing and production of medicinal grade cannabis. The group has been involved in cannabis cultivation, breeding and research for several years. Innuana has an established reputation in Switzerland and in October 2021, received one of the initial public
orders to grow cannabis by the local government to cover the needs of the City of Zürich in 2022 and beyond.

Both Creso Pharma and Innuana have executed the LOI agreement following recent amendments to the Swiss Narcotics Act in March 2021, which facilitates the patient access for the use of medicinal cannabis in Switzerland.

Following the change of the regulations, the cultivation, processing, production and trade of medicinal cannabis will become subject to the authorisation and control system of the Swiss agency for therapeutic products, Swissmedic. Accordingly, treatment with medicinal cannabis will no longer require an exceptional authorization by FOPH (Federal Office of Public Health)iii.

The legislative shifts will enable Creso Pharma to expand its Swiss operations and enter into the Swiss medicinal cannabis market. Under the LOI, Innuana will grow and produce medicinal cannabis products to the Company’s specifications, which Creso Pharma will sell and distribute to patients.

The initial term of the agreement is one year (“Initial Term”) and will automatically renew after one year (“Renewal Term”), unless either party notifies the other of their decision to not renew the agreement within 30 days prior to the expiry of the Initial or Renewal Term. Initial Term and Renewal
Terms are subject to termination for cause upon notice by either party, or upon failure to meet the above referenced renewal conditions. Should the parties not enter into a formal commercial agreement on or before 30 December 2022, the LOI shall automatically terminate.

Creso Pharma will bring in its medical and pharmaceutical expertise for the growing specifications, and the marketing and use of the product. Creso will also leverage its established relationships with prescribers and clinics in Switzerland to drive prescription sales growth.

Initially, Creso Pharma will focus on the Swiss market, which provides access to a potential 110,000 Swiss patients in 2022i in a market expected to grow to CHF1.3Bn (A$1.9Bn) by 2028ii. Additional expansion efforts into other countries will follow in due course.

Creso Pharma’s Director of International Operations, Mr Jorge Wernli said: “Recent regulatory shifts in Switzerland have unlocked a significant opportunity for Creso Pharma and this collaboration with Innuana marks the first step in our expansion into the Swiss prescription market.

“Healthcare professionals will now be able to prescribe medicinal cannabis products to a large range of patients and importantly this agreement will allow Creso to grow cannabis to its own specifications, utilising pharmaceutical experience and product expertise.

“Initially, we will focus on Switzerland with the medium-term objective to export the products into countries with similar opportunities.”

-Ends-

Authority and Contact Details
This announcement has been authorised for release by the Board of Directors of Creso Pharma Limited.

For further information, please contact:
Investor Enquiries
Creso Pharma Limited
E: info@cresopharma.com
P: +61 (0) 497 571 532
Enquiries can be texted to +61 (0) 497 571 532

Released through:
Ben Jarvis, Six Degrees Investor Relations: Ph: +61 (0) 413 150 448
ABN: 89 609 406 911
Suite 5 CPC, 145 Stirling Highway, | Nedlands, WA, 6009 | Australia
Allmendstrasse 11 | 6310 Steinhausen | Schweiz
CresoPharma.com
(ASX: CPH)

About Creso Pharma
Creso Pharma Limited (ASX:CPH) brings the best of cannabis to better the lives of people and animals. It brings pharmaceutical expertise and methodological rigor to the cannabis world and strives for the
highest quality in its products. It develops cannabis and hemp derived therapeutic, nutraceutical, and life style products with wide patient and consumer reach for human and animal health.

Creso Pharma uses GMP (Good Manufacturing Practice) development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland. It has worldwide rights for a number of unique and proprietary innovative delivery technologies which
enhance the bioavailability and absorption of cannabinoids. To learn more please visit:
www.cresopharma.com

About Innuana
Innuana is a GMP grade, licensed cannabis grower based in Switzerland with indoors and outdoors
growing operations. It employs upwards of 20 people and is a subsidiary of Uana Holding AG. In
October 2021, Uana Holding received an order from the city of Zürich to produce cannabis to cover its
needs. Innuana differentiates itself through its extensive strengths and skillset, including

  • Expertise in plant breeding, GMP and medical hemp know-how
  • Existing business as a basis
  • Own and rented fields including cultivation
  • Controlled cultivation areas with all required regulatory approvals
  • Technical expertise
  • Stable core team with unique expertise
  • Outstanding pioneering know-how in SGF 3 (medical cannabis)
  • Leading market recognition

Creso Pharma offices:
Australia
Suite 5 CPC, 145 Stirling Hwy, Nedlands, WA, 6009
Switzerland
Allmendstrasse 11, 6310 Steinhausen, Schweiz
Canada
59 Payzant Driver, Windsor, Nova Scotia, B0N 2TO
Canada
50 Ivey Ln, Windsor, Nova Scotia, B0N 2TO

Forward Looking statements
This announcement contains forward-looking statements with respect to Creso and its respective operations, strategy, investments, financial performance and condition. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”,
“anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of Creso could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors,
competition and government regulation.

The cautionary statements qualify all forward-looking statements attributable to Creso and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this announcement and Creso has no obligation to up-date such statements, except to the extent
required by applicable laws.

i Berner Zeitung: “110’000 patients will soon get cannabis legally”, 18.12.2020
ii Prohibition Partners – The European Cannabis Report: 6th Edition iii Info on the amendments to the Narcotics law in Switzerland, website of the Federal Office of Public Health
(FOPH): https://www.bag.admin.ch/bag/de/home/medizin-und-forschung/heilmittel/med-anwend-cannabis/gesetzesaenderungcannabisarzneimittel.html. The information is available in German, French and Italian: https://www.bag.admin.ch/bag/en/home/gesundleben/sucht-und-gesundheit/cannabis/pilotprojekte.html.

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Optimizing the DNA of plant medicines

Delic Labs Partners With GT Research

This partnership could offer valuable services to producers across Canada.

Delic Labs of Delic Corp (DELC) is partnering with GT Research Inc. to help mushroom and cannabis producers optimize their products.

Through the deal, Delic Labs will use DNA analysis to evaluate the commercial value of different cannabis and psychedelic mushroom strains based on certain gene traits. The services will help Canadian producers optimize their compounds through genetic engineering to produce more effective plant medicines.

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New ways to consume drugs!

Cannabis Global Launches Research Program for Psychedelics Infusions for Foods and Beverages

Will shroom edibles and drinks be the next big thing in Cali?

Cannabis Global Inc. (CBGL) is developing methods to infuse psilocybin and psilocin, as well as other compounds found in psychedelic mushrooms, into foods and beverages.

The LA-based company has initiated research into infusion methods to improve bioavailability of the compounds and to mask the bitter flavour of the mushrooms. The company has already filed 9 patent applications for its cannabinoid infusion technologies including polymeric nanoparticle and emulsion infusions, which it hopes to leverage for this new research program.

With the state of California on track to have a psilocybin legalization measure on the 2022 ballot, the program could potentially serve a large marketplace in the near future.

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Mydecine Completes Spin-Out of U.S. Cannabis Assets

Mydecine Completes Spin-Out of U.S. Cannabis Assets

DENVER, Oct. 01, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company”), a biopharmaceutical company focused on the treatment of mental health and addiction, today announced that it has completed its previously announced spin-out transaction (the “Transaction”) of ALT House Cannabis Inc. (“SpinCo”), a wholly-owned subsidiary of Mydecine which held the Company’s U.S. cannabis assets.

SpinCo was incorporated on August 9, 2021 for the purposes of the Transaction, enabling Mydecine to transfer to SpinCo all of the Company’s interests in: (i) 1176392 BC Ltd; (ii) Alternative Distribution Company, LLC; (iii) Drink Fresh Water, LLC; (iv) Tealief Brands, LLC; (v) Relyfe Brands, LLC; (vi) We are Kured, LLC; and (vii) Trellis Holdings Oregon OP, LLC (collectively, the “U.S. Cannabis Subsidiaries”) in exchange for 2,500,000 common shares of SpinCo (the “SpinCo Shares”). Mydecine’s current shareholders received for each common share of Mydecine held: (a) one new Mydecine common share; and (b) 0.010300 SpinCo Shares. The new Mydecine common shares are expected to continue trading on the NEO Exchange on October 1, 2021. Holders of Mydecine warrants (NEO: MYCO.WT) who validly exercise such warrants following the Transaction shall receive, for each warrant held, one whole Mydecine common share and, for no additional consideration, 0.010300 SpinCo Shares. The CUSIP numbers for the new Mydecine Shares and the SpinCo Shares will be 62849F101 and 021242102, respectively.

The purpose of the Transaction was to permit the Company to comply with NASDAQ Listing Qualification requirements and comparable London Stock Exchange requirements regarding U.S. cannabis assets as the Company continues its listing review process with NASDAQ. Management believes that transferring the U.S. cannabis assets and cannabis projects to a separate public company removes an unintended obstacle to its planned NASDAQ and London Stock Exchange listings and the expected benefits that such listings will provide the Company and its shareholders. Additionally, SpinCo plans to leverage and monetize the Company’s U.S. cannabis assets and cannabis projects and commercial relationships in the sector.

Going forward Mydecine’s principal business will focus on the development and commercialization of end-to-end mental health treatments through its robust and technologically innovative discovery platform. Mydecine will leverage its world-class R&D facilities to focus on advancing novel compounds and increased efficacy through proprietary technology. Mydecine will continue to accelerate its pipeline with preclinical and clinical development to bring patients safe and FDA-approved solutions and it will no longer be involved in the manufacturing or sale of cannabis and CBD products.

SpinCo intends to make an application to list the SpinCo common shares on either the Canadian Securities Exchange or the NEO Exchange, but no assurance can be provided that such a listing will be obtained in a timely manner or at all. Any such listing will be subject to SpinCo fulfilling all the requirements of the applicable stock exchange.

About Mydecine Innovations Group
Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders and addiction. Mydecine Innovations Group was founded in 2019 on the guiding principle that there is a significant unmet need and lack of Innovations in the mental health and therapeutic treatment environments. Mydecine Innovations Group is dedicated to efficiently developing innovative therapeutics to treat PTSD, depression, anxiety, addiction, and other mental health disorders. Mydecine Innovations Group’s business model combines clinical trials and data outcome, technology, scientific and regulatory expertise with a focus on psychedelic therapy underpinned by other novel molecules with differentiated therapeutic potential. By collaborating with some of the world’s foremost authorities connected by best practices, Mydecine Innovations Group aims to responsibly fast-track the development of new medicines across its platforms, seeking to effectively treat and ultimately change the way we view mental health disorders. Mydecine Innovations Group’s vision is to bridge the current gap between what the mental healthcare system currently provides with the needs of the patients. Mydecine Innovations Group is headquartered in Denver, Colorado, USA with international offices in Leiden, Netherlands.

Learn more at: https://www.mydecine.com and follow us on Twitter.

For more information, please contact:

Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
myco@kcsa.com
1-212-896-1265 / 1-212-896-1206

Investor Contacts
Charles Lee, Investor Relations
corp@mydecineinc.com
1-720-277-9879

Allison Soss / Erika Kay
KCSA Strategic Communications
myco@kcsa.com
1-212-896-1267

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Forward-looking statements herein include, without limitation, statements relating to the listing of securities of the Company on NASDAQ or the London Stock Exchange and the benefits of such listings, benefits of the Transaction for shareholders of the Company, the structure of the Transaction, SpinCo being able to leverage and monetize the Company’s U.S. cannabis assets and cannabis projects, the listing of the common shares of SpinCo on a stock exchange and the Company’s ability to build out a robust R&D pipeline. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

Source: Mydecine Innovations Group Inc.

Released October 1, 2021

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Mydecine Innovations Group Announces Mailing of Management Information Circular and Provides Update on Spin-Out of U.S. Cannabis Assets

Mydecine Innovations Group Announces Mailing of Management Information Circular and Provides Update on Spin-Out of U.S. Cannabis Assets

DENVER, Aug. 24, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group Inc. (NEO: MYCO) (OTC: MYCOF) (“Mydecine” or the “Company”), is pleased to announce that it has filed and mailed its management information circular (the “Information Circular”) and related meeting and proxy materials for the annual general and special meeting of the shareholders of the Company to be held virtually on Monday, September 20, 2021 at 11:00 a.m. (Pacific time) (the “Meeting”).

The purpose of the Meeting is, among other things, to consider and, if thought advisable, to pass a special resolution approving the Company’s previously announced spin-out transaction (the “Transaction”) by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) pursuant to an amended and restated arrangement agreement dated August 9, 2021 (the “Arrangement Agreement”) between Mydecine and Alt House Cannabis Inc. (“Spinco”). Spinco is a wholly-owned subsidiary of Mydecine, recently incorporated for the purposes of the Transaction. As part of the Transaction, Mydecine will transfer to Spinco all of the Company’s interests in: (i) 1176392 BC Ltd; (ii) Alternative Distribution Company, LLC; (iii) Drink Fresh Water, LLC; (iv) Tealief Brands, LLC; (v) Relyfe Brands, LLC; (vi) We are Kured, LLC; and (vii) Trellis Holdings Oregon OP, LLC (collectively, the “U.S. Cannabis Subsidiaries”) in exchange for 2,500,000 common shares of Spinco (the “Spinco Shares”). Mydecine’s current shareholders will receive such 2,500,000 Spinco Shares in proportion to their shareholdings in Mydecine, being 0.010416 Spinco Shares for each common share of Mydecine held. Holders of Mydecine warrants (NEO: MYCO.WT) who validly exercise such warrants following the Transaction shall receive, for each warrant held, one whole Mydecine common share and, for no additional consideration, 0.010416 Spinco Shares.

Upon completion of the Transaction, Mydecine’s principal business will focus on the development and commercialization of solutions for treating mental health problems through its psilocybin research and development and it will no longer be involved in the manufacturing or sale of cannabis and CBD products.

The purpose of the Transaction will be, among other things, to allow the Company to pursue business and financing opportunities unavailable to it while it continues to hold an interest in the U.S. Cannabis Subsidiaries, including its proposed listing on NASDAQ Capital Markets and the London Stock Exchange. The Information Circular contains, among other things, a detailed description of the Transaction, including additional reasons therefor, and other information relating to Mydecine and Spinco following the Transaction.

On August 20, 2021, the Company obtained an interim order (the “Interim Order”) of the Supreme Court of British Columbia, which, among other things, authorizes the calling and holding of the Meeting, stipulates the dissent rights granted to the Company’s shareholders, and specifies certain other matters relating to the conduct of the Meeting. The Transaction remains conditional on the approval of the shareholders of Mydecine at the Meeting in accordance with the Interim Order. The Transaction also remains conditional on the approval of the Aequitas Neo Exchange and final approval of the Supreme Court of British Columbia.

The Transaction is expected to close on or about September 27, 2021.

Following the Transaction, Spinco is expected to be an unlisted public company. Spinco intends to apply to list its common shares on the Canadian Securities Exchange or the Aequitas Neo Exchange following completion of the Arrangement, although there can be no assurances that such listing will be achieved.

ON BEHALF OF THE BOARD OF MYDECINE INNOVATIONS GROUP

“David Joshua Bartch”

David Joshua Bartch, Chief Executive Officer

For more information:

Media Contact
Courtney Ryan
LS2group
cryan@ls2group.com
515-770-4823

Investor Contacts
Charles Lee, Investor Relations
corp@mydecineinc.com
1-720-277-9879

Allison Soss / Erika Kay
KCSA Strategic Communications
myco@kcsa.com
1-212-896-1267

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Forward looking-information in this news release includes, but is not limited to: statements with respect to completion of the Arrangement; benefits of the Arrangement; obtaining Shareholder and final court approval of the Arrangement; the listing of Spinco Shares on a stock exchange and timing thereof; the listing of Mydecine shares on NASDAQ Capital Markets and the London Stock Exchange; and timing of closing of the Arrangement. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

Source: Mydecine Innovations Group Inc.

Released August 24, 2021

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Psilocybin will be bigger than cannabis, says a cannabis exec

Cannabis Firm Plans South Africa IPO, Magic Mushroom Expansion

South Africa’s first cannabis company is shifting to psilocybin, which shouldn’t be a surprise given its name – Cilo Cybin Pharmaceutical Ltd.

The company recently applied for a research permit to study psilocybin for depression, anxiety, and PTSD. “I really think it is going to be a lot bigger than cannabis even,” said the CEO.

He plans to take the company public on the Johannesburg and Luxembourg Stock Exchanges within the next 12 months.

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