A Tsunami Of Money Into Psychedelics Has Been Announced In The Past Week

Most are touting this as good news. Here at “As Your Attorney” we are somewhat more wary

Here we go.

First off the blocks

Toms Shoes Founder and Former CEO Blake Mycoskie Explains Why He Is Donating $100 Million to Psychedelics Research

Blake Mycoskie, founder and former CEO of Toms, talked to Bloomberg about his decision to pledge $100 million to psychedelic drug research. In a new interview for the publication’s “The Dose” newsletter, Mycoskie discussed his choice to distribute the aforementioned money — a quarter of his current net wealth — to a range of institutions, including Atai, Empath and WonderMed, as well as nonprofits including the Healing Advocacy Fund, Sunstone Therapies and the Indigenous Medicine Conservation Fund.




Clearmind Medicine Closes US$2.25 Million Public Offering

Tel Aviv, Israel / Vancouver, Canada, Sept. 18, 2023 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (NASDAQ: CMND) (CSE: CMND), (FSE: CWY) (“Clearmind”), a biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced the closing of its United States only public offering made on a reasonable best efforts basis with gross proceeds to the Company of approximately US$2.25 million, before deducting placement agent fees and other expenses payable by the Company. The offering consisted of 7,500,000 common shares and pre-funded warrants and 7,500,000 common warrants. The common warrants are immediately exercisable, will expire five years from the date of issuance and will have an exercise price of US$0.30 (CAD$0.40) per common share. Each common share (or pre-funded warrant in lieu thereof) was sold together with one common warrant at a combined purchase price of US$0.30 (CAD$0.40) per share (or US$0.299 (CAD$0.399) per pre-funded warrant after reducing US$0.001 (CAD$0.001) attributable to the exercise price of the pre-funded warrants) but were issued separately. The common warrants and pre-funded warrants are not listed on any exchange.

The Company expects to use the net proceeds from the offering, for general corporate purposes, which may include operating expenses, research and development, including clinical and pre-clinical testing of its product candidates, working capital, future acquisitions and general capital expenditures.





Psychedelic stock jumps as Steve Cohen’s Point72 snaps up shares

Shares of Cybin Inc., a developer of psychedelic therapies, finished 38.5% higher on Monday after billionaire investor and New York Mets owner Steve Cohen’s hedge fund Point72 disclosed that it had bought nearly 19 million shares of the company for an 8.1% stake. The filing was disclosed Friday and first noted on social media. It comes roughly three months after the foundation that Cohen runs with his wife, Alexandra, awarded a $5 million grant to the Multidisciplinary Association for Psychedelic Studies, or MAPS. The foundation has donated more than $31 million to psychedelic projects, according to its website. Cybin is researching the effects of psychedelics on things like anxiety and depression. Neither Cybin nor Point72 immediately responded to a request for comment.

-Bill Peters

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