The PsyIndex rose 2.89% last week after a decline dating back from mid-August showed signs of reversal during Friday’s session. The move higher on Friday followed COMPASS Pathways Inc.’s (CMPS) debut on the NASDAQ where shares surged 70%+ and created a $1 billion market capitalization
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Corporate News, Deals & Listings
- Mydecine Innovations Group created a special committee to evaluate a range of options to increase shareholder value, including a potential spin out of U.S.-related assets. via CannabisFN
- New Wave Holdings appointed Daniel Fox as CEO and Diego Gianelli as Director. Mr. Fox has a diverse range of experience across industries, including the alcoholic beverage and cannabis. via CannabisFN
- COMPASS Pathways announced the pricing of its upsized IPO in the U.S. of 7.5 million ADRs at $17.00 per share for gross proceeds of $127.5 million, making it among the largest listings. via CannabisFN
- Mind Cure Health announced the close of its previously announced public offering of common shares. via CannabisFN
Pure Extract Technologies Inc. (CSE: PULL) (listing pending) is already in a great position within the cannabis industry. With falling input prices and rising demand for extracts, the Company will be able to acquire raw materials at spot pricing and convert it into high-value extract-based products. The Company’s entrance into the functional mushrooms and psilocybin space could create enormous value.
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.
- 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).
- Leaders in the psychedelics space joined to create the global Psychedelic Medicine Association (PMA), which aims to bridge the gap between the medical establishment, patients and the industry. via HealthEuropa
- UC Berkeley launched a psychedelic research center through anonymous funding sources, creating a second leading institution following Johns Hopkins move to do the same. viaa Interesting Engineering
- Rolling Stone takes a look at how 9/20 became the holiday for psychedelic mushrooms, similar to 4/20 in the cannabis industry. via Rolling Stone