PsyIndex Weekly Update: August 3, 2020 – August 7, 2020

The PsyIndex rose 4.31% last week after a few big moves and ongoing improvements in the global regulatory situation.



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Corporate News, Deals & Listings

  • Red Light Holland commenced growing magic truffles in the Netherlands months ahead of schedule. The 3,000 square foot indoor growing facility is growing three different strains of magic truffles and should produce100,000 grams by late October.
  • Yield Growth Corp. subsidiary, NeonMind Biosciences Inc., submitted an application to Health Canada for an exemption to use a controlled substance for scientific purposes—its planned preclinical trial using psilocybin as a treatment for weight loss.
  • Mindset Pharma announced the filing of a provisional patent application with the USPTO for a groundbreaking process to synthesize psilocybin and psilocin—two of the known active compounds in psychedelic mushrooms—with the goal to make them easier to procure.
  • Mind Medicine Inc. engaged renown psychedelic assisted therapy expert Dr. Peter Gasser as an advisor to its LSD experiential therapy program, Project Lucy. Dr. Gasser has pioneered the medical use and compassionate access to psychedelics in Switzerland.
  • Nutritional High International Inc. announced that its pending acquisition target, Psychedelic Sciences Corp, completed its financing efforts and the acquisition is expected to close shortly. PSC is also moving ahead with its research with Rangsit University.

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

  • Canada permitted four patients with incurable cancer to receive psilocybin therapy, which marks the first time since 1974 that a legal exemption has been given to access psychedelic treatment. via CNN
  • A new study showed that more Americans are using LSD and psilocybin, possibly as a therapeutic mechanism to deal with the COVID-19 pandemic, according to one expert. via Guardian
  • DC residents will vote on the decriminalization of magic mushrooms in November after a ballot measure succeeded in gathering more than 25,000 signatures. via Washington Post

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