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MINDCURE Announces Financial Results for the Second Quarter of Fiscal 2022

MINDCURE Announces Financial Results for the Second Quarter of Fiscal 2022

VANCOUVER, BC, Jan. 25, 2022 – Mind Cure Health Inc. (CSE: MCUR) (OTCQX: MCURF) (FRA: 6MH) (“MINDCURE” or the “Company”), a leader in advanced proprietary technology and research for psychedelics, today announced its financial results and operational highlights for the three and six months ended November 30, 2021. All amounts are stated in Canadian dollars unless otherwise indicated.  

Fiscal Q2 2022 Business Highlights

  • Commenced trading on the OTCQX Best Market on September 30, 2021, the highest tier of OTC Markets Group, under the ticker symbol “MCURF”.
  • Closed an exclusive data licensing agreement with ATMA Journey Centers Inc., a pioneer in the psychedelic therapy industry, and was granted exclusive access to ATMA data from patients using iSTRYM, the Company’s digital therapeutics technology. The data will be leveraged to further optimize iSTRYM and position it as the industry’s distribution network for science-based, evidence-backed protocols and AI data systems.
  • Signed a letter of intent with Awakn Life Sciences (NEO: AWKN) (OTCQB: AWKNF) to be a distributor of its ketamine-assisted psychotherapy for Alcohol Use Disorder protocol in the US and Canada.
  • Partnered with 20 ketamine clinics in nine states in the U.S. and three provinces in Canada to release the minimum viable product version of iSTRYM, with plans to further expand in 2022.
  • Introduced the “Desire Project”, a clinical research program focused on the treatment of female hypoactive sexual desire disorder with MDMA-assisted psychotherapy. This is the first psychedelics-based treatment program targeted at addressing Hypoactive Sexual Desire Disorder.
  • Joined the Digital Therapeutics Alliance, a non-profit association of industry leaders with a mission to drive awareness and adoption of digital therapies.
  • Advanced preparations to ship ibogaine drug material to its pre-clinical research partner.
  • Included in the AdvisorShares Psychedelics ETF, which trades on the NYSE Arca under the ticker symbol “PSIL”.

Recent Events

  • The Company and its digital therapeutics technology, iSTRYM, were certified as Health Insurance Portability and Accountability Act (HIPAA) compliant, making a further step toward commercial deployment in the second quarter of 2022.
  • Appointed Dr. Doron Sagman, MD, FRCPC, as the Company’s new Chief Medical Officer (“CMO”). Dr. Joel Raskin who was acting CMO will transition into an advisory role.

“During the second quarter of fiscal 2022, we achieved several key milestones across our digital technology and research projects, further proving our ability to successfully execute against our strategic growth strategy,” said Kelsey Ramsden, President & CEO of MINDCURE. “We are continuing to build out our team with key industry leaders, positioning the Company to develop innovative treatments that promote healing and improve mental health.”

Financial Highlights

  • Net loss for the three months ended November 30, 2021 was $2.95 million, comprised of cash operating expenses of $2.9 million, non-cash operating expenses of $0.3 million and an unrealized gain of $0.2 million.
  • Cash and cash equivalents totalled $13.4 million as of November 30, 2021.

A copy of the Company’s financial statements for the three and six months ended November 30, 2021 and the related management’s discussion and analysis are available under the Company’s profile on SEDAR at www.sedar.com.

In other news, the Company also announces it has granted a total of 110,000 stock options to certain employees pursuant to the terms the Company’s long term incentive plan (“Plan”). The stock options are exercisable at a price of $0.21 per share, and are subject to the terms of the Plan.

About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on Facebook, Twitter, and Instagram.

On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995

Forward-Looking Information
Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; that the Company will be effective in obtaining the patents applied for synthesizing ibogaine, or synthesizing ibogaine, or developing synthesized ibogaine for research, medical or commercial use; that MINDCURE will advance wellness worldwide; that iSTRYM will be brought to commercial deployment in the near term or otherwise or that it will reduce symptoms, improve quality of life, or support transformation and healing, or that the deployment may not occur at the scale or within the time frame contemplated.

Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed.

Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

For further information: MINDCURE Investor Relations, Daniel Kim, VP Investor Relations, dkim@mindcure.com, 1-888-593-8995

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Numinus Wellness Inc. Reports Q1 2022 Results

Numinus Wellness Inc. Reports Q1 2022 Results

  • Ended quarter with strong cash position of $53.9 million
  • Revenues grew 245% year-over-year to $0.8 million for the quarter
  • Generated gross profit of $50,965 during the quarter, representing a 6.5% gross margin
  • Well-positioned to offer psychedelic-assisted psychotherapy services through Canada’s newly expanded Special Access Program
  • Clinical trial application made to Health Canada to begin Phase 1 study for proprietary psilocybe extract
  • MAPS-sponsored MDMA-Assisted Therapy for PTSD study to begin shortly; approvals received from Health Canada and the Institutional Review Board

All financial results are reported in Canadian dollars unless otherwise stated.

VANCOUVER, BC, Jan. 20, 2022 /CNW/ – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSX: NUMI) (OTC: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced its fiscal first quarter results for the three months ended November 30, 2021.

“We have made significant advancements in all areas of our business over the last several months, with many exciting opportunities on the horizon,” said Payton Nyquvest, Founder and CEO. “Of note, the partnership across our lab and clinical teams has been instrumental in passing key milestones on two major clinical trials: one for a proprietary Psilocybe formulation and the other a MAPS-sponsored MDMA study. In addition, we’re continuing to make discoveries in our Bioscience lab and recently begun genetic testing on several newly-acquired psychedelic mushroom species.” 

Mr. Nyquvest continued, “The recent amendments by Health Canada to the Special Access Programme further underscore the importance and growth potential of Numinus’ wellness clinic network. With facilities purpose-designed for a wide range of psychedelic-assisted psychotherapies, therapists already trained on providing Psilocybin-assisted and MDMA-assisted therapies, and a Health Canada distribution license that allows us to import, possess, produce, and distribute psychedelic compounds – Numinus is well positioned as a national leader to provide these important treatments to those who qualify. I’m encouraged by the recent changes by Health Canada and proud of everyone at Numinus for the ongoing leadership, drive and commitment to our mission over the past quarter.”

First Quarter Financial Highlights:

  • Cash balance of $53.9 million as of November 30, 2021
  • Revenues grew 244.5% year-over-year to $0.8 million in Q1 2021, due primarily to the acquisition of Mindspace. Sequentially, revenues grew 60.9% compared to Q4 2021.
  • Gross profit of $50,965 in Q1 2022, compared to gross loss of $38,135 in Q1 2021
  • Gross margin was 6.5%, compared to -16.6% in Q1 2021
  • Loss was $5.4 million for Q1 2022, compared to a loss of $1.9 million in Q1 2021

Operational Highlights During and Subsequent to Fiscal First Quarter 2022:

Numinus Bioscience – Laboratory Operations

  • Q1 2022 revenue of $141,702, a 56.4% sequential increase from Q4 2021, but a 27.7% decrease from $196,090 in Q1 2021. This year-over-year decline is primarily due to the Company ceasing cannabis related activities during 2021 to dedicate resources towards advancing psychedelic-centered service offerings – including psychedelic analytical testing and contract laboratory services, to align with the Company’s strategy and overall objectives.
  • On November 29, 2021, the Company announced that Numinus Bioscience developed proprietary psychedelic drug tests with new toxicity and potency scans. These new analytical tests will accelerate Numinus’ research and development capabilities and generate new revenue streams through third-party client product testing.

Phase 1 clinical trial on NBIO-01:

  • On October 24, 2021, Numinus announced it finalized the study design and protocol for a Phase 1 clinical trial on a naturally derived psilocybin extract (“NBIO-01”), advancing Numinus’ investigation of its first proprietary psychedelic product, which was developed using a patent-pending technology.
  • On January 14, 2022, the Company submitted its clinical trial application to Health Canada for its Phase 1 trial of NBIO-01. The clinical trial, named HOPE, is a two-phase study that will take place at a Vancouver based clinic. Upon approval, Numinus will begin testing the extract for bioavailability and tolerability on 20 healthy volunteers, followed by testing against a psilocybin comparator on a further 28 healthy volunteers.

MAPS-sponsored MDMA-assisted therapy for PTSD clinical trial study (“MAPPUSX”):

  • On November 10, 2021, the Company announced it will host the Montreal and Vancouver sites of the MAPPUSX study, which will continue to evaluate the safety of MDMA in treating severe PTSD, titled “A multi-site open-label extension study of MDMA-assisted psychotherapy for PTSD.”
  • On January 19, 2022, Numinus announced that it had received approvals from Health Canada and the Institutional Review Board to proceed with its clinical trial study for MAPPUSX. Enrollment for the trial is expected to begin shortly and will be open to eligible participants who were previously enrolled in the placebo arm of the parent study (“MAPP1”) or who were not able to receive treatment due to COVID-19 restrictions.

Subsequent to the quarter:

  • Numinus Bioscience secured several additional strains of psychedelic mushroom species and has already begun genomic analysis of these spore prints for research purposes.

Numinus Health – Numinus Wellness Clinic Network

  • Q1 2022 revenue of $647,915, a 61.9% sequential increase from Q4 2021, and a 1,857.6% increase compared to $33,098 during the same period last year when Numinus had only one clinic, which was impacted by COVID-19 during the quarter.
  • On September 23, 2021, Numinus completed the acquisition of the Neurology Centre of Toronto (“NCT”) for less than $1.0 million, allowing for the planned expansion of NCT into a comprehensive neurologic care center specialized in psychedelic neurology.
  • During Q1 2022, clients received a total of 6,217 appointments through Numinus clinics (including one-on-one and group therapy sessions, neurology-related appointments and Ketamine-assisted psychotherapy), representing a 91.9% increase in clinic appointments compared to the prior quarter (Q4 2021), due in part to the acquisition of NCT. On a same-store basis, excluding NCT, client appointments increased 42.0% compared to the prior quarter.
  • On November 10, 2021, the Company announced that it had secured two additional clinic locations in Vancouver and Montreal that will primarily be used for clinical research studies in the near-term.

Subsequent to the quarter:

  • Numinus has finalized a formal Ketamine-Assisted Psychotherapy (“KAP”) training program for therapists, with virtual training sessions occurring over the next two months. This training program will expand the number of Numinus therapists qualified to provide KAP sessions to clients.
  • As of January 20, 2022, Numinus has five wellness clinics offering services to clients (one in Vancouver, one in Toronto, and three in Montreal) that have a total of 21 treatment rooms. In addition, the Company has two dedicated research clinics where psychedelic studies are being conducted (one in Vancouver and one in Montreal).

Corporate Updates

  • On November 22, 2021, the Company changed its OTC ticker symbol to “NUMIF” (from “LKYSF”) to better align with its Canadian ticker symbol.
  • Subsequent to the quarter:
  • On December 16, 2021, Numinus graduated to the TSX (from the TSX-Venture), trading under the symbol “NUMI”.

Industry Updates

  • On January 5, 2022, Health Canada implemented amendments to the Special Access Programme (“SAP”). These amendments now enable:
    • Doctors and practitioners to apply for psychedelic medicines that have shown promise through Phase 2 or Phase 3 trials, on behalf of their patients, when other traditional medicines and therapies have not proven effective.
    • Doctors and patients to hear, within 48 hours of the application being submitted, if access to psychedelic medicines are approved for their case. If approved, doctors can refer patients to clinics – such as Numinus’ wellness clinics, to receive psychedelic-assisted psychotherapy.
    • Companies holding a Health Canada dealers license, including Numinus Bioscience, to act as a licensed distributor of certain psychedelic medicines for SAP approved cases.

Q1 2022 Key Performance Metrics:

For the quarter ended November 30:
20222021% change
     Numinus Bioscience¹ revenue141,702196,090-27.7%
     Numinus Health2 revenue647,91533,0981,857.6%
Total Revenue$789,617$229,188244.5%
Cost of revenue(738,652)(267,323)176.3%
Gross Profit (Loss)$50,965$(38,135)n.m.
   Gross profit margin6.5%-16.6%n.m.
General and administrative expenses(3,736,890)(1,285,448)190.7%
Share-based compensation(400,568)(174,250)129.9%
Sales and marketing expenses(760,519)(269,243)182.5%
Depreciation(51,829)(91,261)-43.2%
Research and development expenses(330,626)(89,727)268.5%
Transaction costs(45,092)—100.0%
Loss before other items$(5,274,559)$(1,948,064)170.8%
Other items(79,530)19,327n.m.
Loss and comprehensive loss$(5,354,089)$(1,928,737)177.6%
Loss per share, basic and diluted$(0.03)$(0.02)50.0%
Average number of shares outstanding, basic and diluted203,409,202112,364,99881.0%
1 Numinus Bioscience consists of revenues generated through Numinus’ Laboratory Operations.
2 Numinus Health consists of revenues generated through Numinus’ clinic network.

Numinus’ condensed consolidated financial statements for the three months ended November 30, 2021 and related management’s discussion and analysis are available on Numinus’ Investor Relations website at www.investors.numinus.com and under the Company’s profile on SEDAR at www.sedar.com.  These documents were prepared in accordance with IFRS and with TSX-Venture disclosure timeline requirements, as the company was listed on the TSX-Venture at quarter end.

Conference Call and Webcast Details

Interested parties are invited to participate in the Company’s Q1 2022 results conference call and webcast. On the call Numinus executives will review the Company’s performance and recent initiatives, and answer questions from analysts.

Date:Thursday, January 20, 2022
Time:5:30 p.m. (EST)
Dial-In:1 (833) 989-2968 (Toll-free North America), 1 (236) 714-4028 (International)
Code:2670376
Webcast:https://event.on24.com/wcc/r/3574506/6105A28282486D6F95F7834E9C5632E2

The webcast will also be archived on the Events and Presentations page of Numinus’ Investor Relations website: https://www.investors.numinus.com/events-and-presentations

About Numinus
Numinus Wellness (TSX: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.

Learn more at www.numinus.com and follow us on LinkedIn, Facebook, Twitter, and Instagram.

Forward-looking statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.

SOURCE Numinus Wellness Inc.

For further information: Investor Contact, Jamie Kokoska, Vice President, Investor Relations, jamie.kokoska@numinus.com, +1 833-686-4687; Media Contact, May Lee, Communications Manager, may.lee@numinus.com

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Cannabis Global Provides Investor Update – Expects Current Revenue Growth Trends to Continue – Prepares Launch of New Cannabis Edible and Beverage Line

Cannabis Global Provides Investor Update – Expects Current Revenue Growth Trends to Continue – Prepares Launch of New Cannabis Edible and Beverage Line

LOS ANGELES, CA / ACCESSWIRE / January 20, 2022 / Cannabis Global, Inc. (OTC PINK:CBGL), an innovation-oriented company investing in disruptive cannabis technologies, today releases its latest update for investors and information on soon to be released new cannabis products.

Earlier this week, the Company filed its latest report for the fiscal period ended November 30, 2021. Revenues for the period totaled $569,562, which were up significantly from the year-ago quarter of November 30, 2021, which produced just $4,530. The increase in revenues was attributable to the introduction of new products, including cannabis flower, prerolls, and edibles, and significantly increased distribution revenues. Cannabis Global reported total assets at the end of the November quarter of $11.5 million compared to assets of $3.2 million at the end of the year-ago quarter.

The Company is experiencing continued firm orders from its major customers even as industry-wide cannabis sales growth within the regulated market is constrained. As a result, the Company expects revenue from the current quarter, which ends February 28, 2022, to grow from the levels reported during the November quarter.

“We are pleased with the revenue growth we reported during the November quarter and believe the growth trend is continuing into the current quarter,” commented Arman Tabatabaei, CEO of Cannabis Global. “Cannabis industry-wide issues of regulation, taxes, and black-market competition are affecting our growth, but we have taken important steps to mitigate these issues to the greatest extent possible by directing our business opportunities into areas where competition is less intense and where we have competitive advantages. We expect to maintain our focus on unique cannabis edibles, strategic distribution for a few selected highly successful customers, and on products based on solventless extracts, which we are now making inhouse, thus reducing dependence on outside partners while allowing us to capture more gross margin dollars through vertical integration.”

Cannabis Global has taken important steps to increase vertical integration of product inputs via the installation of an on-premises solventless extraction function that allows the Company to produce its own ice water hash, which Company personnel press into high-quality cannabis rosin extracts for use in the Company’s products. This vertical integration has reduced the cost of rosin extracts by more than 70%. With recently upgraded equipment, Cannabis Global has established a goal to begin marketing excess solventless extracts to other manufacturers of cannabis vape cartridges, pre-rolls, and edibles.

Cannabis Global is expecting to further increase its sales of cannabis edibles during the February quarter via the launch of several new product lines. The first of which will be marketed under the Company’s Northern Lights brand name, with the second to be produced for mass distribution throughout California for an established brand. These edibles will be based on the Company’s “No Cannabis Taste” technology, which is produced via a unique formulation developed internally by the Company. Additionally, during the current quarter, the Company plans to begin distributing cannabis-infused beverages based on all-natural, cannabis resin and rosin infusions.

Mr. Tabatabaei continued, “Over the past two years, we have invested heavily in R&D, which we believe is now paying off in the release of several unique products. Considering the mature California market in which we compete, we believe it is vital to approach the markets with new and innovative products. We are especially excited about our “No Cannabis Taste” edibles technology, which will soon be coming to market. This is the first set of products we have seen on the marketplace that exhibits zero cannabis taste. Additionally, we plan to market our beverages based on all-natural cannabis emulsions technologies developed by our research partners. We believe these products will set the bar relative to taste, quality and the list of ingredients while enabling us to yield strong ongoing margins.”

About Cannabis Global, Inc.

Cannabis Global, Inc. is a Los Angeles-based, fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading under the stock symbol CBGL. We are an emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio. We are marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport and tracking. Our subsidiary, Natural Plant Extract (NPE), is a Southern California licensed cannabis manufacturer and distributor which licenses our technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.

Forward-looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate,” “seek,” intend,” “believe,” “estimate,” “expect,” “project,” “plan,” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.

Contact:

Arman Tabatabaei
IR@CannabisGlobalInc.com
+1 (310) 986-4929

IR Contact:

John Grosso
http://www.iconiconsulting.com/
+1 (424) 239-9521

SOURCE: Cannabis Global, Inc.

View source version on accesswire.com:
https://www.accesswire.com/684728/Cannabis-Global-Provides-Investor-Update–Expects-Current-Revenue-Growth-Trends-to-Continue–Prepares-Launch-of-New-Cannabis-Edible-and-Beverage-Line

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Enveric Biosciences CEO, Dr. Joseph Tucker, Provides 2021 Year in Review and 2022 Outlook in Letter to Shareholders

Enveric Biosciences CEO, Dr. Joseph Tucker, Provides 2021 Year in Review and 2022 Outlook in Letter to Shareholders

NAPLES, Fla., Jan. 18, 2022 /CNW/ – Enveric Biosciences (NASDAQ: ENVB) (“Enveric” or the “Company”), a patient-centric biotechnology company, today released a letter to shareholders from Dr. Joseph Tucker, Chief Executive Officer of Enveric Biosciences.

Dear Enveric Shareholders and Partners:

Reflecting on 2021, I am both extremely impressed with all the accomplishments and progress made and humbled and energized to tackle the opportunities that lie ahead. 2021 was a foundational year that set the stage for our Company by assembling a talented and expert team to execute our strategy for the future. As we move forward in 2022, we find ourselves strategically positioned with a strengthened balance sheet, a deep bench of experienced industry professionals, a platform for new drug discovery, a robust IP portfolio and a growing pipeline of what we believe to be promising drug candidates. We are energized to engage with what I believe will be yet another transformative year for the company.

2021 Year in Review
Enveric launched as a patient-centric biotechnology company, employing innovation and scientific leadership as core principles. Notable highlights from 2021 include:

As of September 30, 2021, we had $21 million in cash, no debt related to loans payable, and working capital of approximately $20 million, enabling us to continue executing on our business plan.

Looking Forward to 2022
The foundation of Enveric’s growth in 2022 will be built upon three pillars: our Drug Development pipeline, Drug Discovery process, and Intellectual Property strategy.

  • Drug Development:
    • Most importantly, our psychedelic-based drug discovery engine is operating in full force to address many targeted unmet needs, starting with the planned execution of a Phase II clinical trial in Cancer Related Distress (CRD), our lead indication, with a 1st generation psychedelic asset, EVM-101.
    • Our second-generation psychedelic-derived suite of products in our Discovery Research is slated to progress towards nominating our lead Development Candidate, EVM-201, and to proceed towards completing a host of CMC (Chemistry Manufacturing and Controls), Pharmacology, and Toxicology experiments, leading to planned INTERACT and Pre-IND meetings with the FDA.
  • Drug Discovery:
    • Design of hundreds of potential lead drug candidates for enriching our second generation and third generation pipeline programs with the aim of progressing towards several future Development Candidate nominations in target undisclosed indications.
    • Focused, enriched and targeted drug discovery engine employing Artificial Intelligence screening to identify top candidates for each program based on drug-like properties, predicted pharmaceutical activity and intellectual property strength.
  • Intellectual Property:
    • Continue to invent new drug candidates and employ internationally filed patent applications to claim the compositions, methods of manufacture, and clinical uses.
    • 12 international Patent Cooperation Treaty (PCT) Patent Applications are expected to publish.
    • 7 Provisional US Patent Applications are expected to be converted to international PCT Patent Applications.
    • 2 additional Provisional US Patent Applications are expected to be filed.

With the new company structure, strengthened by the foundational achievements in 2021 including the assembly of an expert team with the passion and drive for drug development, I am confident in Enveric’s ability to execute on our programs in 2022 and beyond.

On behalf of the Enveric management team and Board of Directors, I thank you for your continued support of the company and I look forward to providing you with further updates as our progress continues.

Sincerely,

Dr. Joseph Tucker,
Chief Executive Officer, Director

About Enveric Biosciences
Enveric Biosciences (NASDAQ: ENVB) is an innovative biotechnology company developing next-generation mental health and oncology treatments and clinical discovery platform, leveraging psychedelic-derived molecules for the mind and synthetic cannabinoids for the body. Enveric’s robust pipeline supports drug discovery efforts and clinical development programs to enable potential commercialization of effective treatments for millions of patients in need around the world. For more information, please visit www.enveric.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, ” expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including, but not limited to, the ability to achieve the value creation contemplated by technical developments; the impact of the novel coronavirus (COVID-19) on Enveric’s ongoing and planned clinical trials; the geographic, social and economic impact of COVID-19 on Enveric’s ability to conduct its business and raise capital in the future when needed; delays in planned clinical trials; the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms; Enveric’s ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to Enveric’s products, including patent protection. A discussion of these and other factors, including risks and uncertainties with respect to Enveric, is set forth in Enveric’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Enveric disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Cision View original content:https://www.prnewswire.com/news-releases/enveric-biosciences-ceo-dr-joseph-tucker-provides-2021-year-in-review-and-2022-outlook-in-letter-to-shareholders-301462479.html

SOURCE Enveric Biosciences

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Nova Mentis Provides Corporate Update – 2022 Planned Catalysts

Nova Mentis Provides Corporate Update – 2022 Planned Catalysts

Vancouver, British Columbia – January 12, 2022 – Nova Mentis Life Science Corp. (CSE: NOVA) (FSE: HN3Q) (OTCQB: NMLSF) (“NOVA” or the “Company”), a biotechnology company and global leader in first-in-class psilocybin-based therapeutics and complementary diagnostics for neuroinflammatory disorders reviews its 2021 drug development accomplishments and its planned 2022 steps towards drug approval and commercialization.

“As we enter 2022, I want to thank NOVA’s shareholders for their continued support and investment in our company. We, despite being a small drug biotech company, have achieved tremendous progress last year in our psilocybin research and drug development program, as well as established new partnerships that will help accelerate our efforts and guide us on the pathway to drug approval and commercialization,” says Will Rascan, NOVA’s CEO & President. “NOVA has laid the necessary groundwork to quickly move in 2022 to submit applications to the regulatory agencies in the U.S., Canada, and Europe for phase 2A clinical studies of psilocybin in fragile X syndrome (FXS), a rare disease with unmet medical needs. I personally look forward to reporting to our shareholders this year that our clinical studies have achieved positive clinical results and that NOVA is on its way to potential drug approval and commercial sales.”


The Nova 2021 Story – Accomplishments:

  • Development of manufacturing process for non-GMP >98% purity psilocybin under proprietary manufacturing agreement (PDMO); NOVA ownership of Drug Master File (DMF) to be used in drug regulatory submissions.
  • Psilocybin export/import application approved by the U.S. DEA and Italian Ministry of Health; Proof of efficacy and safety established by Dr. Viviana Trezza, Roma Tre University, Rome, Italy.
  • NOVA proprietary synthetic non-GMP psilocybin proof of efficacy and safety established in 4 preclinical autism spectrum disorder (ASD) models. Significant modulation of anxiety symptoms and improvement of cognition.
  • Microdose psilocybin therapeutic levels established in preclinical fragile X syndrome (FXS) model.
  • Approval granted of Orphan Drug Status from U.S. FDA and European Medicines Agency (EMA) for psilocybin treatment of FXS. This status will provide the Company market exclusivity and significant financial benefits in both regions, including the potential to rapidly advance our clinical program toward regulatory approval and commercialization.
  • Patent filings:
    1. manufacturing process for psilocybin and tryptamine derivatives; July 2021.
    2. Worldwide diagnostic mRNA neuroinflammatory PCT application; November 2021.
  • Completed manufacturing supply of cGMP (>98% purity) psilocybin for U.S., Canada and Europe phase 2 clinical studies.
  • Developed novel mRNA technology to monitor pre- and post- neuroinflammatory drug treatment response. Acquire FDA Real World Evidence (RWE) to prove drug efficacy.

The Nova 2022 Story – Future Catalysts:

  • Finalize human dose delivery formulation for phase 2A human IND regulatory submissions.
  • Joint venture with Mycrodose Therapeutics to develop transdermal psilocybin patch; Schedule 1 license completed and drug shipped to R&D facility in San Diego, CA.
  • Strategic relationship with a major university regarding serotonin research. Cooperative clinical setting for enrolling ASD patients in Observational Study and future FDA phase 2A study.
  • Design and submit Phase 2A psilocybin fragile X syndrome INDs to the U.S. FDA, Health Canada and European Medicines Agency (EMA).
  • Preparation of psilocybin manufacturing process file in support of Phase 2A IND filings with U.S. FDA, Health Canada and EMA.
  • Consummate ongoing pharmaceutical industry partnerships to promote psychedelic drug development and commercialization in the U.S., Canada and Europe.
  • Potential sales of NOVA cGMP manufactured drug to doctors and clinics exploring use of psilocybin under Health Canada’s recently enacted Special Access Programme (SAP) to restricted drugs for psychedelic therapy.
  • Recruitment of patients for NOVA’s North American autism clinical study, which was listed on ClinicalTrials.gov (NCT04869930), a database of privately and publicly funded clinical studies conducted around the world. This Observational Study based in the US and Canada [NM101: Establishing a Diagnostic and Therapeutic Index in Autism Spectrum Disorder (ASD) and Fragile X Syndrome (FXS)] is a large-scale effort to measure genetic neuroinflammatory biomarkers and the neurotransmitter serotonin in an attempt to further understand the development and progression of behavioural symptoms observed in ASD and FXS.

Debt Settlement and RSU Grant
 
The Company has entered into a debt settlement agreement pursuant to which the Company has agreed to issue 1,056,583 common shares (each, a “Share”), at a deemed price of $0.06 per Share, to settle indebtedness of $63,395 (the “Transaction”). All Shares issued pursuant to the Transaction are subject to a statutory four-month and one-day hold period. 
 
In addition, the Company has granted 2,350,000 restricted share units (the “RSUs”) to directors, officers and consultants of the Company. The RSUs are valid for a two-year term and are governed by the Company’s RSU Plan, approved by the Company’s shareholders on December 22, 2020.
 
About Nova Mentis Life Science Corp.
Nova Mentis Life Science Corp. is a Canadian-based biotechnology company and global leader in developing diagnostics and psilocybin-based therapeutics for neuroinflammatory disorders. Nova is the first biotech company to achieve psilocybin orphan drug designation in both the United States and European Union.

The goal is to diagnose and treat debilitating chronic conditions that have unmet medical needs, such as autism spectrum disorder (ASD) and Fragile X Syndrome (FXS).

For further information on the Company, please visit www.novamentis.ca or email info@novamentis.ca.

On Behalf of the Board
Will Rascan, President & CEO
Nova Mentis Life Science Corp.

Phone: 778-819-0244
Toll Free: 1-833-542-5323
Twitter: @novamentislsc
Instagram: @novamentislsc
Facebook: @novamentislsc
 
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Nova Mentis Life Science’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

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Wesana Health Provides Strategic and Operational Updates

Wesana Health Provides Strategic and Operational Updates

  • Wesana granted pre-IND meeting with FDA, currently set for March 11, 2022
  • Wesana Clinics exhibited a record quarter of billings, new patient visits, telemedicine utilization, overall patient appointments, and ketamine administrations
  • New flagship clinic set to open in late Q1 2022 showcasing the service evolution of Wesana Clinics
  • Strategic restructuring program to realize $1.1M in general corporate overhead reduction and improve operational efficiencies

CHICAGO and TORONTO, Jan. 12, 2022 (GLOBE NEWSWIRE) — Wesana Health Holdings Inc.  (“Wesana” or the “Company”) (CSE: WESA; OTCQB: WSNAF), a data driven life sciences company focused on developing the novel therapies of tomorrow and delivering new care paradigms today, is pleased to announce the following strategic and operational updates to the Company’s Care Development and Care Delivery businesses in addition to leadership changes as the Company streamlines its strategy going into FY 2022.

Care Development

Program overview

Wesana’s drug development program looks to utilize combination therapy to treat the symptoms associated with Traumatic Brain Injury (“TBI”), such as depression and anxiety, and migraines. By utilizing psilocybin and cannabidiol (“CBD”), a combination therapy of compounds with demonstrated effectiveness, Wesana’s lead drug candidate, SANA-013, is targeted to improve neuroplasticity and neurogenesis while acting as an anti-neuroinflammatory. In contrast to therapist assisted, single dose therapy, where a large dose of psilocybin is administered in clinic, which has exhibited poor durability and waning effects over a short time-period, SANA-013 utilizes a loading dose of psilocybin in combination with self-administered at-home maintenance doses of psilocybin and CBD to provide more sustained effects and benefit over time.

Pre-IND meeting milestone

The U.S Food and Drug Administration (“FDA”) granted the Company’s request for a pre-Investigational New Drug (“IND”) meeting to discuss the novel therapy and proprietary protocol of SANA-013 for the treatment of TBI-related major depressive disorder (“MDD”).

In the pre-IND meeting, scheduled for March 11, the Company expects to receive feedback from the FDA on its toxicology program and research to-date. The outcome of the meeting will provide key development guidance in advance of IND clearance and initiation of the Phase I clinical trial, currently anticipated to occur in late 2022.

Mark Wingertzahn, Chief Scientific Officer of Wesana commented: “We are impressed with the latest Wesana data and look forward to discussing our drug development approach with regulators in the US and abroad.”

Care Delivery

Record Q4 numbers at Wesana Clinics

The Company is pleased to report that following its previously announced milestone of 4,000 ketamine infusions since the clinic’s inception, Wesana Clinics (the “Clinics”) have shown tremendous growth. The Clinics realized a record quarter in Q4 of billings, new patient visits, telemedicine utilization, overall patient appointments, and ketamine administrations. The record quarter can be attributed to an increase in marketing efforts inclusive of relationship building with the provider and therapist community and strategic and targeted marketing communications.

Wesana Clinics saw a 40% increase in new patient volume and a 29% increase in new appointments relative to the previous quarter. In December 2021, compared to the prior month, Ketamine infusions have also exceeded previous records by 52% while Spravato appointments have increased by 35%. Additionally, the Clinics are expanding access to mental health care through higher utilization of telemedicine appointments. Telemedicine appointments accounted for 57% of all appointments in the last quarter.

Dr. Abid Nazeer, Wesana’s Chief Medical Officer, commented: “I am incredibly pleased with the growth and optimization of the clinics since Wesana’s acquisition in September. Even taking into consideration the backdrop of increasing COVID-19 cases in Chicago, our ability to achieve record numbers is evidence that there is a growing need for accessible, effective, and patient-focused quality mental health care models that integrate established treatment approaches with novel care paradigms. Wesana’s expertise in marketing combined with our existing success in operations has created a winning combination for our patients and improved operating leverage for shareholders.”

Clinic Expansion within Chicago

The Company is also pleased to announce the expansion of clinical operations through the build-out of a third clinic in Naperville, Illinois. Strategically located approximately 25 minutes from the company’s clinic in Oak Brook, IL and 45 minutes from the clinic in downtown Chicago, the Naperville clinic will serve as a key expansion center that will benefit from existing referral sources and marketing initiatives as current locations reach capacity.

At approximately 3,100 square feet, the clinic will offer ketamine treatments in addition to existing Wesana Clinics insurance reimbursable services such as general psychiatric care, Spravato, individual psychotherapy, neurocognitive testing and addiction medicine. The Naperville clinic will also look to showcase the evolution of the clinics through new value-added, insurance reimbursable services such as deep Transcranial Magnetic Stimulation (“dTMS”), group psychotherapy, cognitive training and other mental health and wellness care. The launch of the clinic is currently targeted for late Q1 2022.

“The Naperville expansion is a natural evolution for our clinics business and allows us to realize our vision of Wesana Clinics 2.0,” commented Daniel Carcillo, Chief Executive Officer of Wesana Health. “Serving as our flagship, we are positioned to help the Naperville community with much needed mental health access through new integrated and more effective personalized approaches to healing. Based on our research and understanding of our patient population, we are confident that the new clinic will be a validation of our view on the evolution of our clinics business into a more comprehensive care model.”

Leadership Changes

Israel Mirsky, Chief Marketing and Strategy Officer of Wesana, has transitioned out of the organization to pursue other opportunities. As an early executive of Wesana, Mr. Mirsky was instrumental in building out the Company’s marketing function and in refining the Company’s strategy. The Company would like to thank Mr. Mirsky for his contributions in the early stages of the company and for his role in building out one of Wesana’s key functions.

Hayim Raclaw, Chief Operating Officer of Wesana, has transitioned out of the organization to pursue other opportunities. As co-founder and CEO of PsyTech, Hayim led the development of the clinics and clinical software divisions that now comprise the Care Delivery segment of Wesana. The Company would like to thank Mr. Raclaw for a successful integration of PsyTech’s assets into Wesana and for his contributions to the combined organization.

“On behalf of the management team, I would like to thank Israel and Hayim for their commitment and contributions to building Wesana to its current stage and wish them all the best in their future endeavors,” commented Daniel Carcillo. “As our strategy continues to evolve on both sides of our business, these transitions serve as needed steps to realize our vision of helping patients transcend the barriers in mental health and performance.”

Additional Restructuring

The Company also announces a strategic restructuring program as part of the next phase of the business. The restructuring includes a reorganization and simplification of the Company’s operating structure and a reduction in the workforce. The restructuring program specifically looked to reduce layers of management, remove duplicative roles, and outsource certain non-core functions in order to streamline operations and drive efficiency. The overall restructuring program has reduced general corporate overhead annualized commitments by $1.1M excluding charges associated with severance and related costs.

“We are announcing extensive changes today to make Wesana a stronger, more durable and focused company,” said Zed Wang, Chief Financial Officer of Wesana. “This includes making the difficult decision to part ways with some of our workforce. Saying goodbye to teammates is not a decision that was taken lightly, and we remain very grateful to everyone for their hard work and dedication to Wesana. These changes better positioned our organization by allowing our organization to be laser focused on executional excellence, R&D, quality and accessibility of care.”

On behalf of the Board of Directors:

“Daniel Carcillo” Chief Executive Officer

About Wesana Health

Wesana Health helps people transcend barriers in mental health and performance. We innovate in care development through our therapies and proprietary protocols, and in care delivery through activating a new multidisciplinary, technology-supported clinical model. Learn more at www.wesanahealth.com.

Investor Relations:

Keenan Gentry

Email: IR@wesanahealth.com 

Phone: 702.329.8038

Media Contacts:

Isadora Forman

Email: media@wesanahealth.com

Phone: 917.653.4613

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws with respect to the Company, including, but not limited to: the initiation of Phase I clinical trials in late 2022, the launch of the Naperville clinic in late Q1 2022 and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, financial position, operational or financial performance or achievements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “will”, “projects”, or “believes” or variations (including negative variations) of such words and phrases, or statements that certain actions, events, results or conditions “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Except for statements of historical fact, information contained herein constitutes forward-looking information. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made.

Certain factors that influence successfully initiating Phase I clinical trials in late 2022 include: (i) the Company has retained industry leading experts/consultant to assist with strategy, drafting and submission of pre-IND/CTA meeting Packages; (ii) preparation of materials and internal discussions with consultants have been ongoing, productive and in line with timeline expectations; (iii) the Company has submitted an authorization letter to the FDA authorizing one of its Contact Research Organizations to communicate directly with the FDA on the Company’s behalf and personnel capable of attending the pre-IND/CTA meetings on behalf of the Company have been engaged; (iv) timelines for completion of pre-clinical studies and the receipt of a final report on the Anxiety and Depression Effects Study have been met; (v) the Company has identified the next key IND-enabling studies, including the pharmacology and toxicology assessments necessary to support submissions; (vi) the Company has substantially completed drafting the protocols for the above-referenced IND enabling studies, including the pharmacology and toxicology assessments; (vii) the pre-IND meeting is contemplated to provide the Company with the requisite guidance as to whether the protocols for the IND enabling studies are sufficient.

Certain assumptions that influence successfully initiating Phase I clinical trials in late 2022 include: (i) third parties assisting the Company with the pre-IND/CTA submissions will continue to satisfy deadlines on deliverables within anticipated timeframes; (ii) the pre-IND/CTA meetings are positive and support that a drug development plan and future clinical trials are going to be acceptable to the FDA and Health Canada; (iii) the Company and its consultants can efficiently and timely address any additional correspondence, submission of additional materials or information pursuant to any ongoing requests from FDA/Health Canada as they may arise during the course of their review following the filing of submissions; (iv) additional pre-clinical studies will be commenced and completed on a timely basis and results will be supportive and as anticipated; (v) the Company’s pre-clinical studies (animal pharmacology and toxicology testing) generate data and analyses to support an FDA decision that it is safe to proceed with human trials of the Company’s formulation; and (vi) the Company is able to maintain a GMP supply source necessary to conduct in-human clinical trials.

Certain factors that influence successfully launching the Naperville clinic in late Q1 2022 include: (i) the Company has identified a third clinic location and property and is finalizing the lease, (ii) should the Company procure additional capital and proceed with a lease in connection with the identified third property, renovations and permitting of the property for the purpose of clinic operations are expected to be minimal, and (iii) the Company has an internal team dedicated to identifying potential target clinics and locations and evaluating and addressing issues that may arise during due diligence of any potential targets.

Certain assumptions that influence successfully launching the Naperville clinic in late Q1 2022 include: (i) there are no significant delays in the buildout for the Naperville clinic early in Q1 2022, and (ii) there are no significant delays in renovation/permitting.

Furthermore, such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual performance, achievements, actions, events, results, or conditions of the Company to be materially different from any future performance, achievements, actions, events, results or conditions expressed or implied by such forward-looking information. Such factors include, among others: reliance on third parties to plan, conduct and monitor product research and development; failure to comply with health and data protection laws and regulations; violations of laws and regulations resulting in repercussions; regulatory or political change; maintaining and enhancing reputation and brand recognition; ability to protect intellectual property; requirements to share intellectual property with service providers; negative operating cash flow and going concern; the detrimental impact of future losses and negative cash flow from operations; unfavorable publicity or consumer perception; not achieving publicly announced milestones; psychedelic inspired drugs possibly never being approved as medicines; reliance on the capabilities and experience of key executives and scientists; disruptions due to acquisitions or collaborations; risk of product liability claims; COVID-19; litigation; conflicts of interest; limited operating history; exposure to the fluctuation of foreign exchange rates; enforcement of judgments and effecting service of process on directors and officers; general economic, market and business conditions, and other risks factors including those found in the Company’s annual information form dated September 3, 2021 filed on the Company’s profile on SEDAR at www.sedar.com and discussed in the Company’s other public filings available on SEDAR.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided and made as of the date of this news release and the Company does not undertake any obligation to revise or update any forward-looking information other than as required by applicable law.

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Greenbrook TMS Provides Corporate Update

Greenbrook TMS Provides Corporate Update

TORONTO–(BUSINESS WIRE)–Greenbrook TMS Inc. (TSX: GTMS, NASDAQ: GBNH) (“Greenbrook” or the “Company”) announced today that Roberto Drassinower will be stepping down from his role as Chief Operating Officer of the Company, effective immediately, but will continue to provide advisory services to the Company pursuant to the terms of a consulting agreement with the Company.

“I am excited to continue supporting Greenbrook and Bill Leonard in our growth strategy for the business while being able to take time to spend with my family.”

Mr. Drassinower commented: “I am excited to continue supporting Greenbrook and Bill Leonard in our growth strategy for the business while being able to take time to spend with my family.”

About Greenbrook TMS Inc.

Operating through 149 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy, an FDA-cleared, non-invasive therapy for the treatment of Major Depressive Disorder and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Greenbrook has provided more than 730,000 TMS treatments to over 20,000 patients struggling with depression.

Cautionary Note Regarding Forward-Looking Information

Certain information in this press release constitutes forward-looking information within the meaning of applicable securities laws in Canada and the United States, including the United States Private Securities Litigation Reform Act of 1995. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the factors described in greater detail in the “Risk Factors” section of the Company’s current annual information form, in the “Risks and Uncertainties” section of the Company’s current management’s discussion and analysis and in the Company’s other materials filed with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission from time to time, available at www.sedar.com and www.sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Glen Akselrod
Investor Relations
Greenbrook TMS Inc.

Contact Information:
investorrelations@greenbrooktms.com
1-855-797-4867

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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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Numinus to Host Q1 2022 Results Conference Call on January 13, 2022

Numinus to Host Q1 2022 Results Conference Call on January 13, 2022

VANCOUVER, BC, Jan. 5, 2022 /CNW/ – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSX: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, will release its financial results for the quarter ended November 30, 2021, after market close on Thursday, January 13, 2022. 

Interested parties are invited to participate in the Company’s Q1 2022 results conference call and webcast, occurring on the same day, at 5:30 p.m. Eastern time / 2:30 p.m. Pacific time. During the call, Numinus executives will review the Company’s performance and recent initiatives, and answer questions from analysts.

To listen to the live webcast, please register at: 
https://event.on24.com/wcc/r/3574506/6105A28282486D6F95F7834E9C5632E2

The webcast will also be archived on the Events and Presentations page of Numinus’ Investor Relations website: https://www.investors.numinus.com/events-and-presentations

To participate in the live conference call, please use the following dial-in information:

  • 1 (833) 989-2968 (Toll-free North America)
  • 1 (236) 714-4028 (International)
  • Please ask to participate in Numinus’ Q1 2022 Results Call. To avoid any delays in joining the call, please dial in at least five minutes prior to the call start time. If prompted, please provide conference passcode 2670376.

A replay of the conference call can also be accessed after 8:30 p.m. Eastern time / 5:30 p.m. Pacific time on Thursday, January 13, 2022, at 1-800-585-8367 or 1-416-621-4642 (using passcode 2670376). The replay will be available until January 27, 2022.

About Numinus
Numinus Wellness helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society. 

Learn more at www.numinus.com and follow us on LinkedIn, Facebook, Twitter, and Instagram.

Forward-Looking Statements
Statements and other information contained in this press release about anticipated future events constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event “may”, “will”, “should”, “could” or “might” occur or other similar expressions. Forward-looking statements are subject to risks and uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

SOURCE Numinus Wellness Inc.

For further information: Investor Contact, Jamie Kokoska, Vice President, Investor Relations, jamie.kokoska@numinus.com; Media Contact, May Lee, Communications Manager, may.lee@numinus.com