The Press Release reads…..
CannaGlobal Wellness is focused on becoming a global leader in the research, development and commercialization of psychedelic-based therapies and health products. The company’s announced merger with Sansero Life Sciences and Rise Wellness will allow them to offer an extensive and scalable menu of wellness solutions in the short term, while advancing the Sansero best-in-class science team’s development of novel formulations and intellectual property in psilocybin-based treatment
- Raising up to C$3,000,000
- Pre-Money Valuation of C$20M
Lorne Gertner, Chairman
- Co-Founded Cannastat Therapeutics, sold to pharmaceutical company Sunovion in 2016 for US$635M.
- Co-Founded Tokyo Smoke, acquired by Canopy Growth in 2018 for $350M.
- Co-Founded PharmaCan, known today as Cronos Group.
Steve Sadoff, CEO
- Expertise in nutraceutical product development, having launched 90+ products.
- 15+ years experience developing, launching and growing brands and products within highly regulated environments.
Irie Selkirk, President, Rise Wellness
- Co-Founder of the MAPS Canada Toronto Volunteer Chapter.
- Recognized international speaker on plant and natural medicine policy, regulation, tourism and marketing.
Summary: CannaGlobal Wellness is building a psychedelic company that leverages the past successes of its founding team. Through ByMinistry, they’re a first mover in retail spaces for functional mushrooms, nootropics and adaptogens. With Sansero, they have a drug development platform to explore the therapeutic and pharmaceutical potential of psilocybin. And with Rise Wellness, they have the opportunity to be a leading facilitator of psychedelics in a safe, therapeutic environment.
By fusing these different opportunities in to one, CannaGlobal Wellness is a new type of psychedelic company that is advantageously positioned for growth and the future.
CannaGlobal, Sansero Life Sciences and Rise Wellness Merge to Create a New International Psychedelics Company
TORONTO, July 6, 2020 — CannaGlobal, Sansero Life Sciences, and Rise Wellness today announced the creation of CannaGlobal Wellness, a global psychedelics leader focused on psilocybin and other natural compounds to promote emotional, mental, and physical wellness. Leveraging an internationally renowned team with a track record of success, the company will be ideally positioned in the evolving psychedelics industry.
Lorne Gertner, co-founder of Tokyo Smoke, Cannasat Therapeutics (now Cynapsus Therapeutics), and PharmaCan Capital (now The Cronos Group), will serve as Chairman. Leveraging his vast experience and extensive network in the global cannabis and wellness industries, he founded CannaGlobal to pursue the advancement of cannabis and global wellbeing. Steve Sadoff, co-founder of Sansero, will serve as CEO. Mr. Sadoff has 15 years of experience developing, launching and growing brands and products within highly regulated environments including nutraceuticals, natural health and cannabis. Irie Selkirk, will continue to lead Rise Wellness, leveraging her extensive experience as a retailer, patient support expert and as an educator, facilitator, and leader in the cannabis and psychedelics industries. Dr. Darryl Hudson, PhD Molecular Biology and Genetics, will take on the role of Chief Science Officer, bringing with him a deep understanding and unparalleled expertise in the areas of plant molecular biology, neuroscience and genetics in cannabis and psychedelics.
“This is a major step forward for mental health in Canada and around the world,” said Gertner. “Psilocybin is proven to have real benefits for treating serious conditions that affect millions of people, and we are excited to be on the cutting edge of helping people improve their lives and making the world a better place, which I am passionate about and have spent the majority of my life pursuing.”
CannaGlobal Wellness will fuse Sansero’s best-in-class science team and capabilities in the development of novel formulations and intellectual property in psilocybin-based treatments, Rise Wellness’ delivery of industry-shaping immersive healing experiences, and CannaGlobal’s worldwide network of natural wellness pioneers. The synergies created by this merger will enable the company to offer an extensive and scalable menu of wellness solutions in the short term, while also accelerating the development and commercialization of psilocybin-based neurotherapeutics.
“Three hundred million people worldwide suffer from depression, and one out of 13 people have an anxiety disorder,” Sadoff said. “Without effective treatment, these illnesses can be debilitating, and even life threatening. But current treatments aren’t universally tolerated and always effective. Our formulations have indicated that psilocybin, when combined with natural molecules and world-class immersive healing environments, offers a superior alternative to single-molecule drugs that merely suppress symptoms. This merger gives us the infrastructure and network to bring new, game-changing, neurotherapies to market with maximum efficiency.”
Stoic Advisory Inc. is acting as Financial Advisor for CannaGlobal and its Board of Directors. Wildeboer Dellelce LLP is acting as legal advisors to CannaGlobal. Borden Ladner Gervais LLP (BLG) is acting as legal advisor to both Sansero and Rise.