PsyIndex Weekly Update: July 13, 2020 – July 17, 2020

The PsyIndex fell 2.17% last week in a relatively quiet week. With several companies planning to list in the near-term, investors could see things start to heat up over the coming weeks.


Market Performance





Weekly Performance: $83.84 (-2.17%)

Top Gainers

Top Decliners

Corporate News, Deals & Listings


  • PharmaDrug Inc. entered into a share exchange agreement with Red Light Holland Corp. to collaborate on strategic initiatives, such as improving medical conditions or improving mental performance.
  • Mydecine Innovations Group Inc. signed a definitive agreement to acquire NeuroPharm Inc., a Canadian-based developer of natural psychedelic-based treatments for mental health disorders in Canadian and United States veteran communities.


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).


Industry Developments

  • A Congressman withdrew an attempt to derail a psychedelics ballot initiative in Washington D.C., which recently collected enough signatures to appear in November. via High Times.



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