MINDCURE Announces Manufacturing of Synthetic Ibogaine to be Used in Company’s Clinical Research

Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“MINDCURE”) a leader in advanced proprietary technology for psychedelic drug discovery, is pleased to announce that it has begun the first stage of manufacturing pharmaceutical grade ibogaine to be used in preclinical and clinical research.

Ibogaine is a naturally occurring psychoactive compound extracted from the root of the Tabernanthe iboga shrub,native of the Congo and Gabon.1 The compound offers therapeutic potential for substance use disorders, and is claimed to be among the most powerful anti-addiction drugs, particularly when used with proper supervision and support. However, natural sources of ibogaine are extremely limited since these plants are at risk of extinction due to the growing global demand and environmental pressures threatening their natural habitat.

MINDCURE recognizes the importance of sustainability, excellence, and reliability regarding the materials it uses in product development and research. By manufacturing ibogaine, MINDCURE’s research team will have access to a predictable and standardized supply of synthetic ibogaine, while ensuring consistent dosing and reliable results.

Ibogaine has unique and broad actions in the brain, affecting multiple receptors and neurotransmitter systems. In addition to inducing powerful subjective effects, research indicates ibogaine may help repair and rewire addiction-related neural pathways.2 Emerging evidence of its neuroprotective effects, as well as its ability to boost brain neurotrophic factors and neuroplasticity processes supports future research into the use of ibogaine and derivatives thereof for other indications, including in the treatment of neuropathic pain and neurodegenerative conditions, such as Parkinson’s and Alzheimer’s disease.3 While ibogaine showcases a wide mechanism of action, potential toxicity, and low bioavailability which may preclude ibogaine’s usefulness in treating neurodegenerative disorders, MINDCURE will dutifully design any research efforts in recognition of these facts.

“Ibogaine is among a few psychoactive alkaloids found in the iboga plant. Ibogaine offers incredible therapeutic potential, especially in the context of neuroregeneration,” said Dr. Ryan Hartwell, Chief Science Officer, MINDCURE.“Manufacturing ibogaine gives us the ability to pursue promising research avenues and obtain high-quality results, without threatening the existence of the plant and limiting the natural supply of an amazing psychedelic.”

About Mind Cure Health (MINDCURE) Inc.

MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.

MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. MINDCURE is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.

On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
Phone: 1-888-593-8995

Forward-Looking Information

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: MINDCURE manufacturing ibogaine; ibogaine being used in MINDCURE’s preclinical and clinical trials; MINDCURE’s team generating a predictable supply of synthetic ibogaine to drive reliable results and consistent doses; and MINDCURE dutifully designing any research efforts in recognition of ibogaine’s wide mechanism of action, potential toxicity, and low bioavailability which may preclude ibogaine’s usefulness in treating neurodegenerative disorders.

Forward-looking information is based on a number of key expectations and assumptions made by MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE’s business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE’s business; there will be a demand for MINDCURE’s products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; manufacturing ibogaine will help MINDCURE achieve its research goals; and MINDCURE will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what MINDCURE believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, MINDCURE’s industry and MINDCURE’s business, which may negatively impact, and may continue to negatively impact, MINDCURE and may materially adversely affect MINDCURE’s investments, results of operations, financial condition, and MINDCURE’s ability to obtain additional equity or debt financing, and satisfy its financial obligations; general economic conditions; future growth potential; competition for mental health and wellness investments; manufacturing ibogaine may not help MINDCURE achieve its research goals; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect MINDCURE can be found under “Risk Factors” in MINDCURE’s final prospectus which is available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to MINDCURE. The forward-looking information is stated as of the date of this news release and MINDCURE assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.