August 17, 2020 – August 21, 2020
The PsyIndex fell 5.37% last week as traders continued to take profits, adding to the prior week’s losses. This week, the index continued to trend lower despite news that MAPS raised $30 million from tech executives and others to make MDMA a legal treatment for post-traumatic stress disorder.
Top Gainers
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Top Decliners
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Corporate News, Deals & Listings
- Mydecine Innovations Group Inc. launched the world’s first naturally-sourced cGMP psilocybin for global research, sales and distribution.
- Beckley Psytech appointed a renowned psychedelic expert to its Scientific Advisory Board.
- Nutritional High International Inc. completed its acquisition of Psychedelic Science Corp. and was added to the PsyIndex.
- Better Plant Sciences Inc.’s NeonMind is ready to launch four mushroom coffee blends.
- Cybin Corp. hired CFN Enterprises Inc. to attract qualified retail, accredited and professional investors. Full disclosure: PsyIndex.com is owned and operated by CFN Enterprises Inc.
Previously Announced Upcoming Listings
- Field Trip Psychedelics Inc. announced a letter of intent with Newton Energy Corporation (TSX.V: NTN.H). In addition, the company plans to complete a brokered private placement of common shares at a price of $2.00 per common share for gross proceeds of between $14 million and $15 million.
- Silo Wellness Inc. announced a proposed reverse takeover with Yukoterre Resources Inc. (CSE: YT). In connection with the transaction, the company will complete a private placement for gross proceeds of approximately $2.5 million.
- Entheon Biomedical Corp. announced a definitive amalgamation agreement with MPV Exploration Inc. to list on the CSE. In conjunction, it will complete a non-brokered private placement of subscription receipts to raise C$2 million in working capital.
- Havn Life Sciences announced the launch and filing of its preliminary prospectus.
- Novamind Ventures Inc. signed a letter of intent with Hinterland Metals Inc. and undertook a $3 million non-brokered private placement to go public on the Canadian Securities Exchange (CSE).
- Mindset Pharma Inc. signed a letter of intent with North Sur Resources Inc. and aims to raise $1 million in a private placement to go public on the Canadian Securities Exchange (CSE).
- Magical Brands Corp. updated its plans to list on the TSX Venture exchange through its three-cornered amalgamation with Good2Go Corp. (TSXV: GOTO.P).
Industry Developments
- The Multidisciplinary Association for Psychedelic Studies, or MAPS, raised $30 million to fund a Phase III clinical trial on MDMA to treat post-traumatic stress disorder (PTSD). via Marijuana Moment
- Rep. Joe Kennedy III, D-Mass., has not only changed his stance on marijuana in favor of legalization, but said psychedelics are a promising treatment option for PTSD. via StreetInsider
