psychedelics Archives - Green Market Report

Julie AitchesonJulie AitchesonMarch 22, 2021
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Whether through research, writing, entrepreneurship, investment, or artistic endeavor, women are making important inroads in the emerging psychedelics market. A 2020 Global Drug Survey found that women are more likely than men to use LSD and magic mushrooms to treat psychiatric conditions and emotional stress.

“It’s time we stepped into our power and psychedelics can help us do that,” says Zoe Helene, founder of environmental feminist collective Cosmic Sister. Helene coined the term “Psychedelic Feminism”, which is a sub-genre of feminism that embraces the transformational power of psychic plants, and she isn’t the only one who sees the potential of psychedelics to positively impact women’s lives.

Susan Chapelle, Havn Life’s (OTC: HAVLF) executive vice president for research and development, sees massive growth in integrating psychedelics into women’s health. She points to the war on drugs, which disproportionally impacted women and low-income communities, as evidence of a political bias that continues to deprive these demographics of access to safe and effective plant medicines due to restrictive regulations. By creating a safe, standardized supply chain for researchers, Chapelle hopes to break down this bias and get psychedelics to those who could most benefit, women included.

As Ann Barnes, CEO of Edica Naturals and co-director of Red Light Holland (OTC: TRUFF) says, “Now, the massive amount of research being done by the psychedelic community will truly help women- this will be an imperative part of women’s health.” According to the American Psychiatric Association, every year one in five women in the US has a mental health problem such as depression, PTSD, or an eating disorder, which makes Barnes’ prediction sound more like realism than optimism.

 The APA also states that twice as many women suffer depression as men, and twice as many women are likely to experience anxiety or PTSD– conditions which psychedelics are most commonly used to treat. In 2020, Data Bridge Market Research projected that the psychedelic drugs market would reach $6.5 billion dollars by 2027, growth at least partially attributed to factors such as the increasing prevalence of depression and mental disorders and the increasing acceptance of psilocybin as an effective treatment. With women at the forefront of a mental health revolution working to incorporate psychedelics into treatment protocols and a large and growing population of women in need of the benefits these substances offer, the economic future of the psychedelics market could very well be female.

 


Video StaffVideo StaffMarch 5, 2021

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This is Psychedellux your weekly recap of the psychedelic industry business news

Psychedelic media company Delic Holdings Inc. (OTCQB: DELCF) has acquired mushroom kit maker and media company Homestead brands in an all-stock deal. DELIC issued subordinate voting shares worth $50,000 and 50,000 incentive stock options were also granted to Homestead founder David Tatelman, with an exercise price of $0.58. David Tatelman will act as a consultant to the company.

NeonMind Biosciences Inc. (CSE: NEON) (OTC:NMBDF) announced that they have filed four additional provisional patents on psilocybin preclinical data. NeonMind has a consumer products division focusing on medicinal mushroom infused products, as well as a pharmaceutical division focused on drug development of psychedelic compounds. 

Optimi Health Corp. (CSE: OPTI) closed its oversubscribed IPO and began trading its shares last Friday on February 25, 2021 on the Canadian Securities Exchange. 

Mydecine completed its harvest of psilocybin mushrooms at a private facility in Jamaica. The first shipment of the harvest has now been received at Mydecine’s Canadian facility, which has a Health Canada Schedule 1 Dealer’s License attached to it.

 Novamind Inc. (OTC:NVMDF) reported its fiscal second-quarter results for the three months ended December 31, 2020. The company had revenue of $1.2 million primarily composed of patient services from the clinics in Utah. The company said it was a 47% increase over the first fiscal quarter ending September 30th, 2020.

Ehave, Inc. (OTC Pink: EHVVF) filed for a patent for a trademark on its KetaDASH brand name. The company also filed its application to uplist its shares on the OTCQB market.

Cybin Inc. (OTCQB:CLXPF) uplisted from the Pink Sheets to the OTCQB Venture Market with the symbol “CLXPF”.


Video StaffVideo StaffFebruary 26, 2021

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This is Psychedellux, the week’s top news for the psychedelics industry.

Massachusetts lawmakers are moving forward to decriminalize psychedelic drugs. The effort began at the city level when Somerville and Cambridge adopted measures that would make possession of psychedelics a low law enforcement priority. Now it has moved to a state-wide initiative with legislature introduced in both the state senate and house. 

Red Light Holland Corp. (OTC: TRUFF) announced that Brazil has granted authorization for the company’s iMicrodose packs, which contain 15g of Psilocybin Truffles, to be legally imported to Brazil. Also this week, the company issued 26 million units in an offering that brought in over $11 million. 

EMPOWER CLINICS INC. (EPWCF:OTCQB) announced the launch of its first three integrated health centres in Ontario, Canada with each location expected to generate $2.5 – $3.6 million in annual revenue. Advanced discussions are currently underway on multiple additional locations as the company begins the rollout of its national clinic expansion strategy.

NeonMind Biosciences Inc. (CSE: NEON) has purchased an initial order of GMP grade psilocybin from Psygen Labs Inc. for its planned phase 2 human clinical trial expected to begin in Canada later this year. Psygen is a Calgary-based company specializing in the synthetic manufacture of psychedelic medicines. The company provides non-exclusive access to psychedelic drug products for clinical research, therapeutic applications and is a leading supplier for the emerging commercial market.

Novamind Inc., (OTC PINK:NVMDF)  has changed its OTC symbol from “HNLMF” to “NVMDF” effective February 19, 2021.

Psychedellux has been brought to you by the Green Market Report.


Video StaffVideo StaffFebruary 5, 2021

4min2610

Welcome to Psychedellux – the recap of the top psychedelic industry news for the week ending February 5, 2021.

Cybin Inc. (NEO:CYBN) closed its previously announced bought deal that issued over 15 million units of the Company at a price of CDN$2.25 per Unit for aggregate gross proceeds of CDN$34 million. 

Delic Corp., signed a binding agreement to acquire Ketamine Infusion Centers (KIC), which owns and operates two ketamine infusion treatment clinics.  one in Phoenix, AZ and one in Bakersfield, CA. In the last three years, the company has generated over $1.5MM in revenue.

Algernon Pharmaceuticals said it is going to pursue DMT for the treatment of stroke in humans and is planning clinical trials this year. The company said it is motivated  by results of a 2020 pre-clinical study where rats treated with DMT recovered motor-function more quickly and exhibited better neural growth of brain cells; plus brain lesions were significantly reduced compared to animals that did not receive DMT (Today’s Press Release with details).

In legislative news, 

The Campaign to Decriminalize Nature DC said that Initiative 81, the Entheogenic Plant and Fungus Policy Act of 2020, has been transmitted to Congress and the “Projected Law Date” is March 19, 2021.  Initiative 81 reforms police priorities to help ensure that DC residents benefiting from natural psychedelics known as entheogens are not police targets. Initiative 81 passed with support from more than 76% of DC voters in November.

In Australia, the TGA announced its interim decision not to amend the current Poisons Standard in relation to the use of medical-grade psilocybin and medical-grade MDMA as part of therapy to treat patients suffering from treatment-resistant mental illnesses including Depression, PTSD, and Substance Abuse. Mind Medicine Australia said it will contest the Decision Not to Reschedule Psilocybin and MDMA for Medical Use as Part of Therapy for Key Mental Illnesses. 

Psychedellux is brought to you by Green Market Report.


Video StaffVideo StaffJanuary 29, 2021

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This week we’re starting a new weekly news video called Psychedellux which will cover the psychedelic company news of the week. 

This week the first psychedelic stock ETF (exchange-traded fund) will begin trading on the Canadian NEO exchange under the ticker PSYK on January 27. The base currency will be Canadian dollars. The ETF will be managed by Canadian financial services company Horizons ETF Management and it will be focused on the emerging psychedelics opportunity led by life science and pharmaceutical companies.

Seelos Therapeutics, Inc. (Nasdaq: SEEL) closed on an underwritten public offering that is expected to raise approximately $33.5 million.

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF)  has submitted a formal application to list its common shares on the NASDAQ Stock Exchange. 

NeonMind Biosciences Inc. (CSE: NEON) has appointed pharmaceutical executive Robert Tessarolo as its President and Chief Executive Officer.

As the race to own the psilocybin market heats up, MagicMed Industries Inc. (CSE: MGIC reserved)  announced that it has completed the establishment of the psilocybin-derivatives patent portfolio of the Psybrary and the launch of the Candidate Selection program.  The company said that Psybrary is a proprietary physical and knowledgebase collection of novel psychedelic-derivative drug candidates, manufacturing methods, pharmacological data, and patent filings that protect all of the above.

Ehave, Inc. (OTC Pink: EHVVF) announced it is exploring how palliative patients could benefit from its Ketamine home delivery platform, KetaDASH. 

 


StaffStaffJanuary 27, 2021
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Mydecine

Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF)  has submitted a formal application to list its common shares on the NASDAQ Stock Exchange. NASDAQ is the second-largest exchange by market capitalization worldwide and is home to many of the world’s best technology companies. “We believe the Company is entering an accelerated growth phase and the timing could not be better for listing our Shares to NASDAQ,” said Josh Bartch, CEO & Chair of Mydecine. “This listing is intended to open the investment opportunity to a larger and more diverse pool of investors and help create greater shareholder value. A listing on the NASDAQ Capital Market is a natural progression for the Company and our shareholders.”

NeonMind

NeonMind Biosciences Inc. (CSE: NEON) has appointed pharmaceutical executive Robert Tessarolo as its President and Chief Executive Officer.
Mr. Tessarolo has 25 years of experience in the pharmaceutical industry. Most recently he held the position of President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., a psychedelic drug discovery and drug development company now traded on the NEO exchange, from September 2019 to January 2020.  Prior, Mr. Tessarolo was President and Chief Executive Officer of Cipher Pharmaceuticals Inc., a diversified specialty pharmaceutical company listed on the Toronto Stock Exchange. His experience includes executive and key leadership roles that span over two decades including  commercial and business development experience with obesity, addiction and neurologic assets.
“These are exciting times in psychedelic drug development. There is an array of dynamic molecules that have been well characterized over the years but have not been adequately studied in the rigorous clinical trials necessary for regulatory approval. NeonMind grabbed my attention with its distinctive focus on the obesity market and desire to bring new treatment modalities to patients suffering with obesity. Over the years promising new drugs to treat obesity have failed to gain regulatory approval.  This market remains underserved and patients dissatisfied with current treatment options. A safe and effective new approach would be well received,” says NeonMind President and CEO, Robert Tessarolo. “NeonMind’s unique intellectual property portfolio makes it well positioned for growth. I’m grateful to be at the helm of this organization to lead its growth as it matures and makes what could be a truly significant impact on the health and well-being of populations worldwide.”
Ehave
Ehave, Inc. (OTC Pink: EHVVF) announced it is exploring how palliative patients could benefit from its Ketamine home delivery platform, KetaDASH. KetaDASH will be based on a dashboard that provides ketamine to patients who have had it prescribed by a physician. The dashboard will provide an objective view of performance metrics and allow KetaDASH to ensure necessary medical guidance, supervision, and support.
Ben Kaplan, CEO of Ehave said, “Our goal is to provide an IV service that will allow medical professionals to provide psychedelic-assisted therapies in the comfort and convenience of their patients’ homes. We believe a large number of patients prefer a medical technician come to their home over going to a clinic.”

Video StaffVideo StaffNovember 10, 2020

1min3290

Mike “Zappy” Zapolin participates in both sides of the psychedelic marketplace. He’s an advocate for the use of psychedelic drugs and fights for legalization with his group, the Mind Army. He’s also a businessman and is building a ketamine company because of his passion for treating people. Green Market Report was able to chat with Zappy on several psychedelic topics. Thank you for watching the Green Market Report! Be sure to subscribe to our channel. It’s free.


Debra BorchardtDebra BorchardtNovember 4, 2020
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Washington D.C.

Americans were decisive when it came to legislation on psychedelics, even if there wasn’t a clear winner in the presidential election. In Washington D.C., Initiative 81 secured enough votes from residents to pass. Initiative 81 needed to secure a simple majority to pass. The ballot initiative was originally proposed by Ward 6 resident and mother of two Melissa Lavasaniand will, when implemented, reform police priorities to ensure that DC residents benefiting from plant and fungi medicines are not police targets.

“Initiative 81’s success was driven by grassroots support from DC voters. We are thrilled that DC residents voted to support common sense drug policy reforms that help end part of the war on drugs while ensuring that DC residents benefiting from plant and fungi medicines are not police targets,” said Initiative 81 Proposer and Decriminalize Nature DC Chairwoman Melissa Lavasani. “I would like to thank everyone who signed petitions, volunteered with our campaign and helped spread the word about plant medicines and Initiative 81. This campaign would not have been possible without your support.”

The plants and fungi covered by Initiative 81 include psilocybin mushrooms, ayahuasca, iboga, and mescaline-containing cacti, which can help those suffering from depression, anxiety, and addiction. Initiative 81 supporters collected more than 25,000 valid signatures from registered DC voters to place the measure on the November ballot.

Decriminalize Nature DC said in a statement,  that once the election results are certified by the DC Board of Elections, Initiative 81 will be enacted when it passes from the Board of Elections to the DC City Council. “Then, Initiative 81 will be transmitted to Congress. Since DC is not a state and all laws enacted by voters or the City Council are subject to congressional approval, lawmakers in both the House or the Senate could object to the measure. Congress will have 30 legislative days to review the measure and, if there is no resolution of disapproval passed in both chambers, Initiative 81 will be implemented and published as law in the DC register.”

Oregon

Oregon became the first state in the country to legalize psilocybin as voters in the state passed Measure 109. Oregon Live reported that Measure 109 was passing by 56.12% Tuesday at 8:50 p.m. with 1,832,513 votes counted. While D.C. decriminalized it, Oregon will be the first to permit supervised use statewide if that majority holds. The product will have to be stored and administered at licensed facilities.

The measure, backed by chief petitioners wife-and-husband Sheri and Thomas Eckert of Beaverton, will allow regulated use of psychedelic mushrooms in a therapeutic setting. Measure 110, which also passed, will decriminalize possession of small amounts of drugs, including psychedelic mushrooms. Oregon Live also reported that Dr. Bronner’s, known for its all-in-one soap and hemp products, had made large donations to Oregon’s effort to legalize psilocybin.

“This election was a historic first step for Psilocybin. Oregon is the first state in the U.S. to allow Psilocybin for therapeutic purposes and will be leading the way for research initiatives across the country,” said Del Jolly, co-founder, and director of Unlimited Sciences. “We expect to see many more initiatives like these, so we can expand our outreach into the community and find the answers that so many are looking for to better their lives.”

“Psilocybin and other psychedelics have been a part of therapeutic experiences for thousands of years, in a widespread natural history experiment. Legalization and decriminalization in Oregon and Washington D.C. will now allow us to do what we think is so vital and that is collect data in the naturalistic setting.  Like we have seen many times in our history, the people are pushing for their basic human right to heal through their voice- their vote,” said Heather Jackson, Board President of Unlimited Sciences.


StaffStaffSeptember 10, 2020
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Havn Life Sciences announced that, on August 31, 2020, its wholly-owned subsidiary, HAVN Research Inc., was granted a Section 56 exemption by Health Canada, meaning it now has the ability to possess certain amounts of pure psilocybin for scientific purposes, specifically for the research and development of quality control methods.

Havn Life said it plans to immediately begin work on experiments with the objective of developing a set of methods for the safe, standardized, quality-controlled production of medical compounds extracted from the Psilocybe spp. mushroom.
“We are thrilled to be among the first to receive permission from the Canadian government to begin work with psilocybin”, stated Tim Moore, Co-CEO of Havn Life. “This important milestone will enable Havn to begin working toward creating method-validation and analytical chemistry to standardize methods for quality control and testing of these substances.”
“Having access to compounds is essential in order to further research in the medical field. This is the start of our journey into developing standardized protocols to ensure that as this industry grows, we understand efficient new methodology”, stated Susan Chapelle, Havn Life Co-CEO, noting the advent of new technology and variables in extraction have changed significantly in the last decade.

Havn recently began trading on the Canadian Securities Exchange using the ticker symbol “HAVN”. Havn Life said it is focused on the standardized, quality-controlled extraction of psychoactive compounds from plants and fungi to develop products for use in research. Havn Life is also developing natural healthcare products designed to unlock human potential, containing novel and natural psychoactive compounds. The company has no revenue as of yet.

“Listing on the Canadian Securities Exchange is an important step in Havn Life’s growth within the emerging global psychedelic space,” says Tim Moore, Havn Life Co-CEO. “There is a tremendous opportunity to transform and enhance the healthcare and wellness space with psychedelic medicine, and the time is now to lay the foundations for what is likely to be a significant industry. Our multidisciplinary team is focused on laying the groundwork by developing quality controls and methodology for research and the medical supply chain.”

Moore was the only employee of Havn when the prospectus was published. Havn Research has a staff of seven, comprising seven consultants and no fulltime employees. Havn Research said it has the qualified personnel required to operate its facility and to develop research protocols and formulate drug compounds

Psilocybin Research

According to the company’s prospectus, Havn Research plans to undertake research to develop the research protocols to cover the production of Psilocybe spp. mushrooms in sterile conditions, the extraction and purification of psilocybin, psilocin, baeocystin, and other compounds found in the genus, and quality control and testing necessary for safety and formulation protocols with Psilocybe spp. and/or constituents. Havn Research said it plans to develop a compound library designed to support the science of safe, quality-controlled psychoactive compounds for the formulation to supply researchers with compounds for clinical trials.
Havn Research said it expects that it will take one year to complete the development of research protocols, after which
approximately an additional four months will be required for the protocols to be published. Havn Research’s research is expected to be split into two 17-week phases and one 18-week phase. The company said it plans to build a dedicated lab facility for its research, formulation, extraction, and pilot-scale manufacturing purposes.
The phase 1 lab build-out is anticipated to cost $300,000 and to be completed by the beginning of the third quarter of 2020. Phase 1 will be designed to meet the requirements to operate under the Health Canada section 56 research exemption. The Corporation also plans to complete a phase 2 lab build-out designed to satisfy the requirements necessary for a Dealer’s License, which it aims to complete by the first quarter of 2021. The phase 2 lab build-out is anticipated to cost $500,000. Havn said it expects it will take an additional four months for the protocol to be published.
HAVN Research aims to have natural health products (NHP) ready for the market in early 2021. HAVN Research said it expects to market its proprietary NHP products under the HAVN brand through a direct to consumer market model and through third party point of sale locations of NHP products.

“We are currently working on a variety of projects including product formulation of effective microdosing of novel psychoactive compounds as well as the development of a state-of-the-art mycology lab for extraction,” said Susan Chapelle, Co-CEO of Havn Life.


Debra BorchardtDebra BorchardtSeptember 4, 2020
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Numinus Wellness Inc. (TSXV: NUMI) has filed a final short form prospectus to offers up to 16,000,000 units at a price of $0.25 per Unit for gross proceeds of up to $4,000,000 in the offering jurisdictions of British ColumbiaAlberta, and Ontario. The offering is expected to close on or about September 10, 2020.

Numinus is a company that is creating an ecosystem of health solutions centered on developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted therapies. The company said it would use the net proceeds of the Offering for MDMA and psilocybin Compassionate Access protocol implementation, to make these drugs accessible to specific patient groups before they are available on the market, as more particularly described in the Prospectus.  Additional funds will be used to secure therapy space and develop psychedelic integrative treatment models, support upgrades to its Lab infrastructure to support its Health Canada licenses, and for general operating expenses.

Deal Details

Each Unit will consist of one common share of the company and one-half of one common share purchase warrant.  Each Warrant will entitle the holder to purchase one additional common share of the company at a price of $0.35 per common share for a period of two years from issuance. The company said it has received conditional approval of the Offering from the TSX Venture Exchange, and for the listing of the common shares comprised within the Units, the common shares issuable on exercise of the Warrants and common shares associated with compensation to the Agent.

The Company

Numinus Bioscience includes a 7,000 square foot research and testing laboratory as well as numerous Health Canada licenses (through its wholly-owned subsidiary Salvation Botanicals), including a cannabis testing license that provides established and growing revenue. It is also a late-stage applicant for cannabis processing. Additionally, the company holds a dealer’s license which allows it to import, export, possess, and test MDMA, psilocybin, psilocin, DMT, and mescaline, and it is the first publicly listed company in Canada to be issued a Health Canada license to produce and extract psilocybin from mushrooms for the purpose of developing proprietary extraction methods.

These licenses will allow Numinus to support the growing number of studies on the potential benefits of psychedelic therapies through research projects, product development, and the supply and distribution of these substances. Numinus R&D leverages established relationships to position the Company for partnerships to host studies, develop medical and therapeutic protocols, and influence regulatory approval. Numinus Health, with one clinic already prototyping systems for efficiency and profitability, is dedicated to delivering therapies that enhance and supplement existing options—centered around psychedelic-assisted therapies when and where regulated—for people wanting lasting physical, mental, and emotional health.



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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