PsyIndex Weekly Update September 21, 2020 – September 25, 2020

The PsyIndex rose 35.84% last week following the listing of COMPASS Pathways Inc. (NASDAQ: CMPS) that soared nearly 50% in its first week. The move also helped boost several other psychedelic stocks.

 

Weekly Performance: $110.15 (+35.84%)

 

Top Gainers

Top Decliners

 

Corporate News, Deals & Listings

  • PharmaDrug Inc. recently closed its acquisition of a retail establishment specializing in the sale of psychedelic products. via CannabisFN
     
  • Numinus Wellness Inc. began cultivating mushrooms for the purpose of psilocybin production at its 7,000 sq. ft. licensed facility. via CannabisFN
     
  • Mydecine Innovations Group Inc. announced that its Mindleap Health subsidiary launched the world’s first telehealth platform for psychedelic integration. via CannabisFN
     
  • Mind Cure Health Inc. added Alain Roy as Product Development Specialist to its team and received Health Canada authorization to sell its Moonbeam Mushroom products in Canada. via CannabisFN
     
  • Havn Life Sciences Inc. recently submitted a range of natural health products to Health Canada for approval. via CannabisFN
     
  • MindMed, currently listed on the NEO, announced plans for NASDAQ up-listing. via Forbes

 

Featured Content

 

Pure Extracts: A Prove Extraction Company with Laser Focus

We take a look at Pure Extract Technologies Inc. (CSE: PULL) (listing pending) and why investors interested in operational excellence may want to take a closer look.

 

How the Psybrary™ Could Revolutionize Psychedelic Drug Discovery

We take a look at MagicMed’s Psybrary™, the current stage of development and how it could revolutionize psychedelic drug discovery.

 

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).

 

Industry Developments

  • Ann Arbor decriminalizes magic mushrooms and psychedelic plants, making it one of just a handful of municipalities in the U.S. to do so. via WDIV
     
  • Psilocybin therapy is on the ballot in Oregon, which could make it one of the first states to legalize psychedelic medications. via The Mary Sue

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