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

Top Decliners

 

Corporate News, Deals & Listings

 

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