ASHKELON, Israel and VANCOUVER, British Columbia, July 17, 2023 (GLOBE NEWSWIRE) — BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) (“BYND Cannasoft” or the “Company”) today announced the pricing of a firm commitment underwritten public offering with gross proceeds to the Company expected to be approximately US$2.6 million, before deducting underwriting discounts and other estimated expenses payable by the Company. The base offering consists of 1,733,334 common shares at a price to the public of US$1.50 per share. The Company intends to use the net proceeds from this offering for working capital.

In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase additional common shares of up to 15% of the number of common shares sold in the Offering solely to cover over-allotments, if any. If this option is exercised in full, the total gross proceeds of the Offering including over-allotments are expected to be approximately US$3.0 million before deducting underwriting discounts, commissions and offering expenses.

The offering is expected to close on July 19, 2023, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form F-3 (No. 333-272374) declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 14, 2023. A preliminary prospectus supplement and accompanying shelf prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying shelf prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC and that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

There is no offering of any of the Company’s securities by the underwriter in Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About BYND Cannasoft Enterprises Inc.

BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets “Benefit CRM,” a proprietary customer relationship management (CRM) software product enabling small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (BENEFIT) and a module system (CANNASOFT) for managing farms and greenhouses with varied crops. BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women’s health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users’ pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction.

For Further Information please refer to information available on the Company’s website: www.cannasoft-crm.com, the CSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR: www.sedar.com.

Gabi Kabazo
Chief Financial Officer
Tel: (604) 833-6820
e‐mail: ir@cannasoft-crm.com

For Media and Investor Relations, please contact:

David L. Kugelman
(866) 692-6847 Toll Free – U.S. & Canada
(404) 281-8556 Mobile and WhatsApp
dk@atlcp.com
Skype: kugsusa

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the filing of a final Prospectus. All statements in this release, other than statements of historical facts, that address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company’s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company’s management’s discussion and analysis for the year ended December 31, 2022 and annual information form dated March 31, 2023, which are available under the company’s profile at www.sedar.com, and in the Company’s Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on April 27, 2023. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

SEATTLE, Oct. 18, 2022 (GLOBE NEWSWIRE) — Pervasip Corp. (OTCPK: PVSP) (“Pervasip” or the “Company”), a developer of companies and technologies in high value emerging markets, today announced the filing of its unaudited financial statements for its 3^rd Quarter ended August 31, 2022.

“Q3 2022 shows material signs of improvement over Q2 2022 reflecting our ongoing operational focus. As stated before, we continue to pursue our strategic goals even during these difficult market conditions as evidenced by our recent agreements on terms for the acquisition of the Emerald City Cultivation and Dabco brands. Our operational and financial focus on rationalizing our business, shedding underperforming assets, and increasing production yields by our independent cultivators continues to proceed and have allowed us to continue with additional market share capture. Investing in Cannabis is not for the faint of heart and we believe we are building a solid foundation for years to come which takes time, patience, and relentless focus on fundamentals. In an industry that does not have access to traditional financing, our options are limited and expensive,” said German Burtscher, Pervasip’s CEO. “We slowed the rollout of our new concentrate brands which we licensed for Q3 deployment and instead focused on an outright acquisition as the opportunity became available. That resulted in not meeting the forecasted revenue from the new product lineup for Q3. We are also pursuing a conservative approach to working within the complicated tax environment our industry is confronted with. Ongoing work in support of the audit process and a recent court ruling that impacts the cannabis industry caused us to change our estimates for tax liability dating back to prior periods 2017 – 2020, which we booked in Q3.”

The Company continues to focus on moving available bulk inventory into higher margin brands with a focus on margin capture and is seeing promising early results.

Third Quarter 2022 Financial Results

Q3 2022 versus Q2 2022

Q3 2022 operating results improved over Q2 2022, tracking with ongoing efforts to shift bulk sales to higher margin brands combined with relative COGs reductions, even when adjusted for inventory.

SG&A expenses are slightly reduced, reflecting more of the ongoing restructuring of the business.

Q3 2022 versus Q3 2021

The key to a meaningful comparison of end of period August ’22 to August ’21 is to recognize that August ’21 was at the height of Pandemic exuberance, recording the highest monthly sales across the entire industry. A key comparison to better understand the challenge and how the company’s brands have been gaining market share is to look at weight sold in grams and compare resulting revenue. It shows a 42% increase in product sales but a 6% decrease in comparable revenue. The company has answered price pressures with a multi-faceted strategy which allows for share capture while introducing higher margin brands and product lines.

Onetime adjustments

The Company’s ongoing audit work has also produced several tax adjustments from prior years, dating back to 2017. Due to the net operating loss carryforward, Pervasip did not recognize income tax expense in the nine-month periods ended August 31, 2022, and 2021. However, the VIEs that are included in the consolidated financial statements, have recorded a tax expense and a current income tax liability. Recent court cases regarding the interpretation of IRC 280E have made it more likely than not that the net operating loss deduction in the VIEs would be disallowed. Consequently, the company recorded tax provisions for its VIEs. Rather than re-stating prior years the Company decided to account for all adjustments in this quarter. Of the $1,503,376 booked in the Income Statement, $686,688 is tax and penalties from previous years and the rest estimated taxes for 2022 year to date.

In addition, $589,485 in Other Expenses in the Income Statement, includes a $342,000 tax adjustment from 2017 legacy payroll tax and a $163,718 charge from Pervasip which is from loss on debt conversion with Mammoth and derivatives.

Accrued expenses of $1,066,575 includes $254,549 in utility rebate contingency. That contingency will be lifted in Q4 as final commissioning by the utility was completed after the third quarter close and a full rebate of $288,000 was approved.

Key Highlights

• Instead of focusing on a rollout of licensed Dabs and Vape4Less brands, the Company pursued an outright acquisition of those brands plus others, achieving more beneficial long-term value but not yet realizing respective revenue gains as indicated earlier.
• Q3 shows margin improvement over Q2 as higher margin brands and products are coming online, a trend that will continue into Q4 2022.
• The Company continues to pursue additional operational, financial, and legal restructuring to further clean and strengthen its balance sheet.
• While expensive, the Company will continue to seek capital from available equity or debt sources.

The cannabis market on the Westcoast continues to see a dramatic post-pandemic retraction, creating a challenging environment for all producers, processors, and retailers. With an almost 18% contraction in retail revenues, massive oversupply, sustained downward price pressure and increasing costs, the industry is still months away from a recovery, although the bottom for pricing seems to have been reached.

Pervasip Corporation
Pervasip Corp., a developer of companies and technologies in high value emerging markets, owns Artizen Corporation and its subsidiary, Zen Asset Management LLC, a diversified asset management company founded to acquire, develop, and support companies and technologies in the cannabis industry. ZAM’s existing clients operate four licensed cannabis cultivation and one processing facility in Washington. Most of the biomass produced by these independent cultivators has been sold historically under the Artizen brand, including all-time top selling products in flower in Washington state. Additional information on Artizen-branded products is available online at www.artizencannabis.com. Pervasip additionally owns 5% of KRTL Biotech, Inc., a developer of biotechnologies with a focus on pharmaceutical applications of cannabinol and psilocybin. Additional information on KRTL is available online at www.krtlbiotech.com. Additional information on Pervasip can be found at www.pervasip.net.

Forward-Looking Statements
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company’s business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company’s ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s periodic disclosure statements. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

For further information, please contact:
T: 206-590-2408, Extension 102
E: [email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

CALGARY, August 18, 2022 /CNW/ – High Tide Inc. (“High Tide” or the “Company”) (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that it has entered into a binding commitment letter with Connect First Credit Union Ltd. (“connectFirst”) for a $19 million credit facility with an initial 5-year term (the “Credit Facility”), at connectFirst’s floor interest rate. The terms of the Credit Facility were renegotiated with connectFirst to provide a larger immediately-accessible facility for High Tide, with a smaller total commitment from connectFirst initially – which High Tide expects will grow over time. Upon closing the Credit Facility with connectFirst, the Company expects to use the proceeds to fund continued organic growth, general working capital requirements, and potential future M&A activities.

“I am very happy to provide this positive update today. Our business remains on a strong footing and we continue to gain traction as the leader in the Canadian cannabis retail market. Once in place, this facility will help us continue to propel our growth in an increasingly non-dilutive fashion. Through our conversations with connectFirst, we expect that this line will expand in tandem with our business growth, as we continue to execute on our conveyed business plan. This will enable us to capitalize on attractive M&A and organic opportunities in North America and Europe,” said Raj Grover, President and Chief Executive Officer of High Tide. “I look forward to sharing our results and progress for our fiscal third quarter in mid-September, and we anticipate the closing of this facility around the same time. I remain as confident as ever in High Tide’s growth trajectory in Canada, the United States, and newly-emerging international markets,” added Mr. Grover.

“We have watched locally based High Tide execute over the last several years. Accordingly, we are very excited about this new partnership between High Tide and connectFirst helping to create a more prosperous Alberta – and beyond. Our senior debt offering will provide High Tide the capital to continue to execute their impressive growth trajectory,” said Sourav Neogi, Relationship Manager, Corporate & Commercial Banking, Connect First Credit Union.

COMMITMENT LETTER TERMS

• CAD$19 Million Term Debt: Accessible on request by High Tide, blended principal and interest payments.
• Low Interest Rate: High Tide continues to receive industry leading interest rates that reflect the strength of its business.
• Financial Covenants: The Credit Facility will have a quarterly tested financial covenant of debt service coverage ratio of not less than 1.40:1, a monthly current ratio covenant of not less than 1.25:1, and a quarterly tested covenant of funded debt to EBITDA ratio of not more than 3:1 beginning with the quarter ending January 31, 2023. High Tide’s 12-month forecast projects it to be comfortably in compliance with all financial covenants.

The Company expects to close on the Credit Facility during the first half of September 2022, subject to certain pre-disbursement conditions and satisfaction of other customary conditions precedent.

ABOUT CONNECTFIRST

Connect First Credit Union Ltd., one of the largest and most successful credit unions in Canada, is a full-service financial institution with over $6 billion in assets under administration. connectFirst employs 750 Albertans who provide a range of financial products and advice in more than 40 communities across central and southern Alberta. It serves over 125,000 members through a community-focused approach to banking.

ABOUT HIGH TIDE

High Tide is a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 139 current locations spanning Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan. The Company is also North America’s first cannabis discount club retailer, under the Canna Cabana banner, which is the single-largest cannabis retail brand in Canada with additional locations under development across the country. High Tide’s portfolio also includes retail kiosk and smart locker technology – Fastendr. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com and more recently in the hemp-derived CBD space through Nuleafnaturals.com, FABCBD.com, BlessedCBD.co.uk,, BlessedCBD.de, and Amazon UK, as well as its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide was featured in the third annual Report on Business Magazine’s ranking of Canada’s Top Growing Companies in 2021 and was named as one of the top 10 performing diversified industries stocks in the 2022 TSX Venture 50. High Tide’s strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.

For more information about High Tide Inc., please visit www.hightideinc.com, its profile page on SEDAR at www.sedar.com, and its profile page on EDGAR at www.sec.gov.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: High Tide securing the Credit Facility on the terms and within the timelines set out in this news release; the use of proceeds from the Credit Facility being utilized as outlined herein; the anticipated effects of the Credit Facility on the business and operations of High Tide; the Company utilizing the Credit Facility to complete future acquisitions; and High Tide’s plans to increase the Credit Facility.

Forward-looking information in this news release are based on certain assumptions and expected future events, namely: High Tide will close the Credit Facility (and will have the ability to obtain all requisite approvals) on the terms and within the timelines anticipated by High Tide; the use of proceeds from the Credit Facility will be utilized as outlined herein; the Company will utilize the Credit Facility to complete future acquisitions; High Tide’s financial condition and development plans do not change as a result of unforeseen events; there will continue to be a demand and market opportunity for High Tide’s product offerings; current and future economic conditions will neither affect the business and operations of High Tide nor High Tide’s ability to capitalize on anticipated business opportunities; and High Tide will extend and strength its integrated value chain, provide a complete customer experience and maximize shareholder value. Although considered reasonable by management of High Tide at the time of preparation, these statements may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the risks associated with the cannabis and cannabidiol industries in general; High Tide being unable to close the Credit Facility and/or being unable to utilize the Credit Facility on the terms and within the timelines anticipated; the inability of High Tide to obtain requisite approvals; the inability of High Tide to pursue more acquisitions in the future; and the inability of High Tide to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.

Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of High Tide in this press release may not be indicative of, and are not an estimate, forecast or projection of High Tide future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. High Tide disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in High Tide’s public filings and material change reports, which are and will be available on SEDAR.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

CONTACT INFORMATION

Media Inquiries

Omar Khan

Senior Vice President – Corporate and Public Affairs

High Tide Inc.

[email protected]

Investor Inquiries

Vahan Ajamian

Capital Markets Advisor

High Tide Inc.

[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

As the cannabis industry strives to gain widespread acceptance in the mainstream, scientific studies into the potential benefits of the plant and its active ingredients play a key role in reaching that goal. There are currently very few approved pharmaceutical drug applications for cannabinoids, but that could change. After decades of effective prohibition there is a growing body of research surrounding cannabinoids, and more drug approvals are likely to follow.

All of the above applies equally to the promising area of psychedelic research, though the psychedelic industry is at an even earlier stage than the cannabis industry. Studies point to potential benefits for patients suffering from conditions such as PTSD, anxiety, addiction, and depression to name a few. More research is needed and getting psychedelics into clinical trials is really the next step.

Two companies on the verge of a merger are looking to push clinical research forward in both areas. Enveric Biosciences (NASDAQ: ENVB) is a pioneer in cannabinoid research that recently announced a Phase 1/2 trial focused on CBD as a complementary treatment for recurrent cases of the devastating brain cancer glioblastoma (GBM). Enveric also recently announced a definitive agreement to acquire and combine with MagicMed Industries, a leader in the research and development of novel derivative psychedelic molecules designed for clinical use. The combination of the two companies has the potential to greatly advance pharmaceutical development in both sectors.

Clinical Trial

Enveric’s clinical trial has been approved by the Israeli Ministry of Health and will be conducted at the Davidoff Institute of Oncology, Rabin Medical Center, in Israel under Principal Investigator Dr. Tali Siegal. Israel has long been a global leader in cannabis research with the backing of the federal government, and the country continues to push the boundaries of our knowledge of the plant and its benefits.

GBM is the most common and lethal form of cancer affecting the central nervous system. Five year survival rates for patients with the disease are very poor, with about 5% surviving through that time and the average length of survival less than two years. Despite much research over the last few decades, these rates remain largely unchanged.

Enveric is studying the combination of its lead synthetic CBD candidate, EV101, with two currently accepted forms of treatment for GBM. Preclinical data supports the idea of the combined treatments, which suggest that CBD may improve the efficacy of chemo- or immuno-therapies while potentially allowing for lower doses of chemotherapeutic agents.

Glioblastoma tumors express CB2 receptors, which are the channels through which CBD and other cannabinoids are thought to exert their anti-cancer effects. Research indicates CBD may induce apoptosis, or cell death, in cancer cells. The results of Enveric’s Phase 1/2 trial could greatly further the understanding of these mechanisms and ideally improve outcomes for GBM patients.

The Combined Company

MagicMed has established a growing library, called the Psybrary, of novel compounds based on or derived from psychedelic molecules such as psilocybin and DMT. The company’s approach is to create patentable drug candidates that enhance the therapeutic effects of the naturally occurring molecules. MagicMed’s expertise lies in research and development, and its business model is to sell or license these drug candidates to pharmaceutical companies, like Enveric, with the capabilities to conduct clinical trials.

With the pending acquisition, the combined companies would be able to keep the whole process, from drug discovery and molecule development through clinical trials and drug approval, under one roof. The hope is to advance psychedelic therapies and research into the mainstream and, of course, gain approvals for drug treatments of major indications like anxiety, PTSD, and depression. The fact that Enveric is listed on the NASDAQ and has clinical trial experience should only work to the benefit of achieving those goals, both in terms of access to capital for development and more generally the acceptance of psychedelic research in the investment community.

Once the deal is finalized, some members of the MagicMed executive team will assume their existing roles in the new version of Enveric Biosciences. CEO Dr. Joseph Tucker will become CEO of Enveric, with current Enveric CEO David Johnson becoming the Executive Chairman. Meanwhile, MagicMed CSO Dr. Peter Facchini and CTO Dr. Jillian Hagel will be named to the same positions in the new company.

The Takeaway

Investors interested in early mover companies in emerging health care sectors may want to track Enveric Biosciences’ development. Upcoming inflection points include the GBM trial, the finalization of the merger between MagicMed and Enveric, and the further development of potential psychedelic therapies. The combined capabilities of the two companies could serve to greatly enhance our understanding of both cannabis and psychedelic science after decades of neglect. Stay tuned.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

According to the Lancet Commission, mental health disorders are on the rise in every country worldwide, and the resulting lost productivity will cost the global economy $16 trillion by 2030. Yet, despite nearly two billion people with mental illness each year, these conditions are routinely misdiagnosed and inadequately treated.

MedXtractor Corp.’s (CSE: MXT) (OTC: MXTTF) SHAMAN and YMI programs apply machine learning to high-resolution health records to better diagnose mental health disorders. In addition, the company aims to predict what treatments are most effective in addressing these conditions, including psychedelics, which have shown tremendous promise in early clinical trials.

Let’s take a closer look at the challenges facing mental health treatments and how SHAMAN and psychedelics could play critical roles in improving them.

Mental Health Challenges

Mental health disorders affect a high percentage of the population. For example, mood and anxiety disorders affect nearly one-third of the U.S. population. In addition, a relatively high rate of people experiencing these conditions visit their primary care physician with physical complaints, like fatigue, creating an opportunity for diagnosis and treatment.

Despite the high prevalence of these disorders, few patients are accurately screened and diagnosed. For example, research shows that primary care physicians misdiagnosed 65.9% of patients with major depressive disorder, 92.7% of patients with bipolar disorder, 71% of patients with generalized anxiety disorder, and 97.8% of patients with social anxiety disorder.

Even if there’s an accurate diagnosis, many mental health treatments have less-than-desirable efficacy, and there can be significant side effects. Psychedelics could offer a better alternative for many patients. Still, years of prohibition have set back clinical trials, and there’s not a lot of information about how and when to administer these kinds of treatments.

Psychedelics Provide a Solution

Psychedelics have been used for thousands of years in religious ceremonies and as part of various cultures. These days, over 30 million people in the U.S. have used psychedelics for mystical experiences, curiosity, and introspection. The widespread use has made it clear that they don’t cause organ damage, withdrawal symptoms, or elicit compulsive use.

Researchers are just starting to uncover the potential for psychedelics to treat mental health disorders. For example, in a small study of adults with major depression, Johns Hopkins researchers found that two doses of psilocybin with psychotherapy produced rapid and significant reductions in depressive symptoms. Half of the participants were in complete remission through four weeks.

Despite the tremendous promise of psychedelics, there are no large-scale standardized clinical trials or data sources that clinicians can use to guide their patient decisions. Many studies thus far involve only a small number of participants and have a minimal focus without an eye toward mainstream applications at a clinical level.

Building the Data Backend

MedXtractor is leveraging machine learning to predict the impact of psychedelics and psychotropics on mental health disorders through its SHAMAN program. With extensive and ever-expanding validated data, the platform can provide high-resolution opinions on the probabilities related to many mental health afflictions.

Psychedelics and psychotropics and their potential application to mental health afflictions are SHAMAN’s initial target. In mid-June, the company announced that it has collected more than 400 complete reference records and is on track to reach its target of 500 complete reference records by June 30, 2021.

The company hopes to reach its Phase 3 target of 800 reference records by the end of August and launch the platform in December. In the meantime, management is focused on tight cost controls to keep project costs under budget while developing mHeath applications and their bio-extraction business operations.

Looking Ahead

Mental health disorders cost the global economy trillions of dollars each year, but screening, diagnosis, and treatment remain largely ineffective despite their prevalence. Psychedelics could play a role in turning around these trends, but clinicians require more data to properly diagnose patients and determine if psychedelic therapies are suitable for them.

MedXtractor Corp. (CSE: MXT) (OTC: MXTTF) is leveraging machine learning to garner insights from hundreds of complete medical records. Using these insights, the company hopes to provide high-resolution opinions on the probabilities related to many mental health afflictions.

Investors may want to take a closer look at the stock as it continues to collect complete reference records ahead of its launch late this year. For more information, visit the company’s website or download their investor presentation.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

CALGARY, AB, June 22, 2021 /PRNewswire/ – Decibel Cannabis Company Inc. (the “Company” or “Decibel”) (TSXV: DB) (OTCQB: DBCCF), a premium cannabis producer, is pleased to announce  the appointment of Paul Wilson as its Chief Executive Officer, effective Wednesday, June 23^rd.

Emphasizing the Company’s objective for brand growth, Mr. Wilson brings CEO and President level experience from some of Canada’s top consumer brands and is currently a member of Decibel’s board of directors. Mr. Wilson served as CEO, President, EVP, and Officer for consumer businesses, including leadership roles at Canadian Tire, Mark’s, Princess Auto, Spence Diamonds and Alcanna Nova Cannabis. As an experienced brand builder, Mr. Wilson has a consistent winning record in sectors ranging from hard goods to apparel and in formats ranging from start-ups and small chains to department stores and national chains.

“We are excited to continue our momentum with this key appointment. We were intent on adding a CEO who would complement our existing strategy and excellent management team” said Cody Church Chairman and interim CEO of Decibel. “The appointment follows a long and intensive search process that considered exceptional internal and external candidates. The focus of the search reflected the priorities of Decibel and the characteristics needed to address them. With Paul, we have selected a strategic leader and brand builder, with Decibel experience at the Board level.”

Paul Wilson commented “the Canadian cannabis industry is now coming together with the appropriate balance of resources to serve consumers. Decibel has done an exceptional job establishing premium brands like Qwest and Qwest Reserve, with production and supply capability to fulfill a significant segment of the rapidly evolving marketplace. I’m excited to be a part of this brand and this team, with a mandate to further strengthen and increase the value our shareholders have recognized.”

“I’d also like to thank the board of directors for its confidence and more importantly acknowledge the existing management team at Decibel who have established and grown our portfolio of brands as market leaders”, added Mr. Wilson.

About Decibel

Decibel is uncompromising in the process and craftsmanship needed to deliver the highest quality cannabis products and retail experiences. Decibel has three operating production houses along with its wholly owned retail business, Prairie Records. The Qwest Estate in Creston, BC is a licensed and operating 26,000 square foot cultivation, processing and distribution space which produces the widely championed, rare cultivar-focused brands Qwest and Qwest Reserve, which are sold in six provinces across Canada. The Thunderchild Cultivation Facility, is a licensed and operating 80,000 square foot indoor cultivation facility in Battleford, SK. The Plant, Decibel’s extraction, processing and manufacturing facility, in Calgary, AB has 15,000 square feet of Health Canada licensed extraction and product development space. This production house will fuel the growth of our brands Qwest, Qwest Reserve, and Blendcraft, into new and innovative product formats like concentrates, vapes, edibles and beyond.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

Forward Looking Information

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

In this news release, forward-looking statements relate to, among other things, the Company’s expectations regarding its ability to bring a significant pipeline of new and innovative products to the market, the Company’s ability to grow Qwest, Qwest Reserve and Blendcraft brands into new and innovative product formats, variations and its other business plans and expectations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: risks relating to delays, regulatory changes and impacts, capital requirements, construction impacts, displacement requirements and unforeseen requirements resulting from the COVID-19 pandemic, the ability to obtain and maintain licences to retail cannabis products; review of the Company’s production facilities by Health Canada and maintenance of licences (including any amendments thereto) from Health Canada in respect thereof; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the labour market generally and the ability to access, hire and retain employees; general business, economic, competitive, political and social uncertainties; the satisfaction of conditions precedent under the Company’s credit facilities; timing and completion of construction and expansion of the Company’s production facilities and retail locations; and the delay or failure to receive board, regulatory or other approvals, including any approvals of the TSX Venture Exchange, as applicable. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Decibel Cannabis Company Inc.

Related Links

https://decibelcc.com/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

A sometimes overlooked aspect of the cannabis industry is the global potential for North American companies. To be sure, the United States and Canada represent the largest and most mature legal cannabis markets, and many companies are rightfully focused on them exclusively. But some companies are set up to not only capitalize on these domestic markets but to pioneer emerging industries in the European Union and elsewhere. It’s not easy for North American companies to do business across the pond from a regulatory perspective, but companies that manage to pull it off might be worth considering due to the greatly increased addressable market.

One company that is aggressively expanding internationally is RYAH Group, Inc. (CSE: RYAH) and its wholly-owned subsidiary RYAH Medtech Inc. The company has developed a suite of smart cannabis and plant-based medicine devices designed to help everyone involved, from patients to doctors to researchers to growers, make more informed decisions based on accumulated data and analysis. Over the last few weeks, and on the heels of the company going public, RYAH has announced a few international deals that provide a look at the global potential for the business model.

Here is an overview of the company’s product offerings, data-centric model, and AI-fueled approach to deciphering that data. Short version: RYAH has developed smart inhalers, patches, and pens that allow patients to precisely control their dosing while recording their experiences by using the proprietary software that RYAH built. Prescribing doctors have access to this information, allowing them to perfect the treatment regimen in concert with the patient. RYAH assembles this data into a mass of information managed and analyzed by the RYAH Cloud data engine. The parsed data is then made available to interested parties from all angles of the medical cannabis world, helping them make better decisions based on a broad data set.

International Expansion

Since commencing trading on the Canadian Securities Exchange on May 10, 2021, RYAH has announced three deals in international markets. Most recently, the company shipped its proprietary Smart Dose-Measuring Inhalers to Italy where they will be used in a pioneering study of medical cannabis use there. The client is CLINN medical center in Milan, the first and only cannabis-specialized clinic in Italy. CLINN was recently named the Best Medicinal Cannabis Clinic in Europe by Canex.

CLINN is utilizing the inhalers to study medical cannabis use, utilizing the precise dosing and patient feedback functions to gain greater insight into how patients use cannabis and their experiences resulting from that use. Though CLINN is Italy’s only cannabis-specific clinic, the country represents Europe’s second largest medical cannabis market. Sales in Italy increased 30% in 2020 over the previous year in spite of the pandemic, in the seventh year of legal medical cannabis there.

In France, RYAH announced an exclusive distribution and development agreement for its inhalers with DelleD SAS. France’s government is conducting a two-year national experiment to gather data about the effectiveness and safety of medical cannabis in anticipation of eventual legalization. Here, RYAH is laying the groundwork in a potentially lucrative market while possibly participating in the government study. The company’s inhalers provide just the sort of data required for such a study, but at this point it is not certain they will be used there.

In New Zealand, RYAH has an exclusive supply and distribution agreement with Medical Kiwi Ltd., a multi-faceted and market leading medical cannabis company involved in cultivation, distribution, and device manufacturing. The deal will enable RYAH’s suite of connected IoT devices and cloud-based data analytics to be connected with Medical Kiwi’s cultivated medical cannabis formulations and patient network for pre-clinical and clinical trial settings as well as medical patient care in New Zealand. The companies are also looking at registering RYAH’s inhaler as a medical device in the country, which would be the first of its kind there.

In addition to that, RYAH has also very recently completed a shipment for a previously announced UK-based clinical trial. This 5-year study is expected to cover tens of thousands of patients suffering from chronic pain, which makes it one of the largest and most ambitious research projects to be conducted in the plant-based treatment arena.

Put It All Together

You can see RYAH’s approach to the international cannabis industry taking shape here. By partnering with prominent companies in both established and potential markets, RYAH is able to establish a presence in the early stages of development. The company is already active in Australia and is surely pursuing deals in other countries as well.

Another aspect of these deals is the addition of valuable data to RYAH’s growing database of medical cannabis information. The database already contains information from over 300,000 medical cannabis users, perhaps the largest repository of its kind in the world. Regardless of the country of origin, more data means better information for all of the users in the RYAH ecosystem. Keep an eye on the company as it continues its quest to bring order and insights from its big, smart data to the sometimes chaotic world of the emerging cannabis industry.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Robin Lefferts

Robin Lefferts has been involved in the legal cannabis industry since 2012, sometimes as an active participant and always as an interested observer.

Vancouver, British Columbia–(Newsfile Corp. – May 27, 2021) – Hemptown Organics Corp. (the “Company” or “Hemptown“), a privately held British Columbia company is providing an update further to its news releases of September 9, 2020, October 2, 2020, October 13, 2020 and March 23, 2021 on the proposed acquisition of Hemptown by Spectre Capital Corp. (TSXV: SOO.P) (“Spectre“), a capital pool company listed on the TSX Venture Exchange (the “Exchange“) (the “Transaction“). The Transaction, once complete, is expected to result in the reverse takeover of Spectre (thereafter, referred to as the “Resulting Issuer“) and will constitute Spectre’s Qualifying Transaction under Policy 2.4 – Capital Pool Companies of the Exchange (the “CPC Policy“).

Concurrent Financing

In connection with the Transaction, Hemptown and Spectre have entered into an engagement letter dated May 27, 2021 (the “Engagement Letter“) with Canaccord Genuity Corp. (the “Agent“) to complete an equity financing (the “Concurrent Financing“) by way of a private placement of up to 8,823,530 subscription receipts (each, a “Subscription Receipt“) at $0.85 per Subscription Receipt for aggregate gross proceeds of up to $7,500,000, with such proceeds to be deposited in escrow (the “Escrowed Funds“) pursuant to the terms of an escrow agreement to be entered into among the Company, Spectre and an escrow agent (the “Escrow Agent“) acceptable to the Agent.

Pursuant to the Engagement Letter, the Company also agreed to grant the Agent an option (the “Over-Allotment Option“) to place up to an additional 1,323,530 Subscription Receipts, or 15% of the maximum number of Subscription Receipts issuable under the Concurrent Financing, for additional gross proceeds of up to $1.125 million.

Immediately prior to the closing of the Transaction (the “Closing“) and upon satisfaction of all conditions precedent to the Transaction (the “Escrow Release Condition“), each Subscription Receipt will be automatically converted into a unit comprised of one common share in the capital of Hemptown (“Hemptown Shares” and each such Hemptown Share, a “Hemptown Financing Share“) and one-half of one common share purchase warrant of Hemptown (each whole warrant, a “Hemptown Financing Warrant“), and the Escrowed Funds, less the Agent’s Cash Commission (as defined below) and the reasonable expenses of the Agent, will be released to Hemptown. Each Hemptown Financing Warrant will be exercisable into one additional Hemptown Share for two years from the date of satisfaction of the Escrow Release Condition (the “Escrow Release Date“) at an exercise price of $1.15 per share.

The Escrow Release Condition must be satisfied on or before the later of: (a) 5:00 p.m. (Vancouver time) 120 days after the closing of the Concurrent Financing, and (b) such later date as Hemptown, Spectre and the Agent may agree in writing (in each case, the “Outside Date“). In the event that the Escrow Release Conditions are not satisfied by the Outside Date, the Escrowed Funds together with accrued interest earned thereon will be returned to the holders of the Subscription Receipts.

Pursuant to the Engagement Letter, the Agent will be paid a cash commission equal to 9% of the gross proceeds of the Concurrent Financing (the “Agent’s Cash Commission“), provided that a commission of 4.5% will be paid in respect of sales to identified investors set out on a president’s list provided by the Company to the Agent (the “President’s List Purchasers“). On the closing of the Concurrent Financing, Hemptown has also agreed to pay to the Agent a corporate finance fee of $200,000, with 50% payable in cash and 50% payable by the issue of Hemptown Shares. The Agent will also receive broker warrants (the “Broker Warrants“) exercisable into that number of Hemptown Shares as is equal to 9% of the total number of Subscription Receipts issued pursuant to the Concurrent Financing (4.5% in respect of Subscription Receipts issued to the President’s List Purchasers). Each Broker Warrant will be exercisable at $0.85 per Hemptown Share for up to 24 months following the Escrow Release Date. Hemptown has also agreed to pay for the Agent’s reasonable expenses incurred in connection with the Concurrent Financing.

It is expected that, pursuant to the Transaction the Hemptown Financing Shares, Hemptown Financing Warrants and Broker Warrants will be exchanged for, or become a right to purchase, as applicable, substantially similar securities of the Resulting Issuer.

Pursuant to the Engagement Letter, on completion of the Concurrent Financing, Hemptown and Spectre shall grant the Agent a right of first refusal to act as fiscal advisor or agent for financings and/or strategic transactions the Resulting Issuer proposes to undertake within a period of six months from the Escrow Release Date.

The closing of the Concurrent Financing is expected to occur on July 15, 2021, or such other date as may be agreed to by Hemptown, Spectre and the Agent.

Other Matters

The Company and Spectre are continuing to negotiate the terms of the definitive agreement with respect to the Transaction, and the parties expect the Transaction to be consummated by way of a plan of arrangement under the Business Corporations Act (British Columbia).

A filing statement respecting the Resulting Issuer and the Transaction will be prepared and filed in accordance with the policies of the Exchange.

Trading in Spectre’s common shares has been halted in compliance with the policies of the Exchange, and will remain halted pending the review of the Transaction by the Exchange and satisfaction of the conditions of the Exchange for resumption of trading. It is likely that trading in Spectre’s common shares will not resume prior to the closing of the Transaction.

Spectre has supplied all information contained in this news release with respect to Spectre and the Company and its directors and officers have relied on Spectre for any such information.

The securities described in this press release, and the securities into which they may be converted or exchanged, have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

About Spectre

Spectre is a capital pool company governed by the policies of the Exchange. Spectre’s principal business is the identification and evaluation of assets or businesses with a view to completing a Transaction.

About Hemptown

Hemptown is a diversified cannabinoid company delivering a wide product offering across the value chain, and in multiple sales channels, to meet the growing global demand for cannabinoid-based products. State-of-the-art cultivation in Oregon’s Rogue Valley, FDA-licensed and cGMP certified product manufacturing, and a strong leadership team with Fortune 500 experience are the pillars for Hemptown’s growth model as it pushes into the consumer-packaged goods sectors with top quality white label and branded product lines for the consumer market. For more information, visit www.hemptownusa.com.

For further information, please contact:

Hemptown Investor Relations
John Martin
[email protected]
1-833-436-7896

Hemptown Sales and General Inquiries
[email protected]
1-888-224-6691

This news release contains statements that are “forward-looking information” as defined under Canadian securities laws (“forward-looking statements“). These forward looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely”, or similar words. Specifically, this news release includes forward looking statements regarding the potential Transaction, the completion of, and the terms and conditions of, the Concurrent Financing, the negotiation of a definitive agreement for the Transaction, the closing of the Transaction and the timing for those events. The forward looking statements reflect the Company and Spectre’s respective management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although the Company and Spectre believe that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward looking statements. Among the key factors that could cause actual results to differ materially: whether the parties are successful in negotiating and entering a definitive agreement for the Transaction, whether they are able to obtain all necessary regulatory approvals for the Transaction and whether they are able to satisfy the listing conditions for the listing of the common shares of the Resulting Issuer on the Exchange; whether they are able to complete any necessary financing; and whether they are able to obtain all shareholder and third party consents necessary to complete the Transaction. The forward looking statements may be affected by risks and uncertainties in the business of the Company and Spectre, including those described in Spectre’s amended and restated final prospectus dated February 12, 2020, filed with the British Columbia Securities Commission, the Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan and available on www.sedar.com.

Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.

Widely hailed as Cannabis 2.0, the current phase of growth in the legal cannabis market is fueled by cannabis-derived products based on oils, distillates, and isolates. These extracts contain various active ingredients, or cannabinoids, like CBD, THC, and rare cannabinoids such as CBN, CBG and Delta-8 THC. You may have noticed the explosion of CBD products in health food, grocery, and even convenience stores. According to Grandview Research, the global CBD market was valued at $2.8 billion in 2020 and is expected to grow at a 21.2% CAGR over the next several years. It’s a vast opportunity in its infancy, and all of it depends on the extraction and processing of quality base ingredients from the cannabis plant.

Hempsana Inc. recognizes the opportunity and is moving quickly to become a major global player in the world of cannabis derivatives. The company has licenses and approvals in place both in Canada and in the European Union, an EU-GMP compliant extraction, production, and distribution facility, and several contracts already active. Helmed by a diverse and experienced executive team, Hempsana is poised to go public in the very near future and continues to expand its presence across the derivatives market.

Not Just CBD

After decades of effective prohibition on both the consumption of and research into the cannabis plant, the science of cannabis is starting to hit its stride. Over 100 cannabinoids have been identified, going far beyond the widely-known CBD and THC. There are many research studies and clinical trials of the potential benefits of cannabinoids, and scientists have identified a natural system in the human body that interacts with them called the endocannabinoid system. The US Food and Drug Administration went so far as to publish a brief encouraging and supporting cannabinoid research and drug development, a clear sign the science of cannabis has hit the mainstream.

How does all of this research and validation tie into Hempsana and its mission to be the most trusted name in cannabis derivatives? First, researchers and pharmaceutical companies certainly comprise a target market for Hempsana’s cannabinoid derivatives. They need something pure and clean to study, and Hempsana can provide. Second, the scientific momentum is fueling acceptance of the plant as a viable alternative to some more traditional products, widening Hempsana’s playing field. Perhaps most importantly, research has uncovered over 100 cannabinoids, each one with the potential to benefit people. Each of these compounds requires extraction and purification, giving Hempsana market opportunities far beyond the common CBD and THC array of products.

Click here to receive an investor presentation and corporate updates

To be clear, Hempsana is not ignoring CBD and THC but rather sees an opportunity to be an early mover with cannabinoids such as CBN and Delta-8 THC. In Hempsana’s native Canada, there are currently a couple of major players in the cannabis extraction world. Both MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) and The Valens Company (TSX: VLNS) (OTCQX: VLNCF) are mostly focused on THC and CBD extracts, and rightfully so. Hempsana firmly believes two things. One, the market growth and potential for the global THC and CBD products is very large and allows room for competitors. Two, there is tremendous value in developing lesser-known cannabinoid products.

Hempsana’s Story

Hempsana was founded in October 2018 in Toronto. The company received confirmation to extract CBD oil from industrial hemp in Hungary, EU in February 2019. This was quickly followed by a Health Canada Industrial Hemp License in August 2019, and the Health Canada Standard Processing License in May 2020 for its Canadian operations. Hempsana’s wholly owned 8,000 square foot EU GMP compliant facility located in Goderich, Canada, was fully completed and commissioned in Q4 2020, with commercial production launched in December 2020.

The Hungarian component is a key to future growth, providing entry into the lucrative EU market. The Canadian EU-GMP compliant facility was also built with international export capabilities in mind, as those requirements are generally considered the most stringent in the world. From a facility standpoint, the table was set in the first two years of Hempsana’s existence.

Since its inception, the company has executed a number of processing and offtake agreements, with current production of cannabinoid derivatives set for over 27,000 kg of biomass extraction.  Hempsana offers three basic types of ingredients: crude full-spectrum oil, full-spectrum high concentrate distillate, and active pharmaceutical ingredient (API) grade isolate. These ingredients form the foundation of products ranging from topical creams, to foods, to pharmaceutical drug candidates.

Hempsana sells ingredients wholesale to qualified buyers that formulate and manufacture their own products. The company also offers more comprehensive services that manage refinement, and include purification, remediation, and even formulation services to cannabis companies without those capabilities. Hempsana also offers white label services, partnering with clients to take products from the idea stage all the way to a ready-to-sell package.

What’s Next

Consider this all an introduction to a new player in the global cannabinoid derivatives market. Hempsana recently announced a business combination agreement that sets the stage for its near-term go-public event, which will introduce the company to new funding sources to help fuel its growth plans. Hempsana is currently in the process of partnering with national brands in Canada, EU, and Asia to create sales verticals in key growth areas including the health supplement, topical cream, vape, and edibles markets. It’s an exciting time for the people at Hempsana, and interested investors are encouraged to keep an eye on this space for further developments.

Click here to receive an investor presentation and corporate updates

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Robin Lefferts

Mental illness is the leading cause of disability in developed countries. In fact, half of Americans will experience mental illness in their lifetime and $350 billion is spent each year on treating depression in the U.S. and Europe alone. Psychedelics have emerged as a breakthrough treatment for many mental health disorders with fast-acting results, long-lasting effects and far fewer adverse side-effects than the current treatment standards. 

After Johns Hopkins launched its Center for Psychedelics & Consciousness Research with $17 million in private funding and a full panel of planned research studies, researchers published the results of an inaugural study showing that two doses of psilocybin with supportive psychotherapy produced rapid and large reductions in depressive symptoms along with half of participants achieving remission through the four-week follow-up period.

“The magnitude of the effect we saw was about four times larger than what clinical trials have shown for traditional antidepressants on the market,” said Alan Davis, Ph.D., Assistant Professor of Psychiatry and Behavioral Science. “Because most other depression treatments take weeks or months to work and may have undesirable effects, this could be a game-changer if these finds hold up in future ‘gold-standard’ placebo-controlled clinical trials.” 

Around the same time Johns Hopkins published its groundbreaking research, the U.S. Food and Drug Administration (FDA) approved a nasal spray containing esketamine—a psychedelic substance—called Spravato for patients who are having suicidal thoughts. Studies showed that more than 40% of suicidal patients who received four weeks of treatment had greatly reduced symptoms of depression at the end of the period—far more effective than other options.

Research and Markets believes that the global market for these kinds of psychedelic treatments could reach $10.75 billion by 2027, driven by an accelerating pace of research breakthroughs and a growing number of clinical trials addressing everything from post-traumatic stress disorder to generalized anxiety disorder. Not surprisingly, many public and private companies have also started to develop therapeutics in the space—and investors should pay attention.  

Revive Completes Thin Film Research 

Revive Therapeutics Ltd. (CSE: RVV) (OTC: RVVTF) is a specialty life sciences company that, among other things, is focused on developing psilocybin-based treatments for a range of mental illnesses, neurological conditions and substance abuse disorders. The team’s primary focus is on a revolutionary thin-film delivery system, which provides rapid onset into the bloodstream and a convenient way for patients to consume medication.

In partnership with the Reed Research Group at the University of Wisconsin-Madison, the company showed that psilocybin could be incorporated into chitosan-tannin composite hydrogel and cast into molds to create stable, flexible thin films after drying, as well as release psilocybin upon dissolution into water. The company filed a provisional patent and is now in discussions with contract manufacturers to scale up production for upcoming clinical studies.

“We are pleased with the final conclusion of the research work and its successful results as it validates our drug delivery technology in delivering psychedelic pharmaceuticals and positions our oral thin film psilocybin product to become a potential novel treatment for various mental illnesses, neurological and substance abuse disorders,” said Revive Therapeutics CEO Michael Frank in the press release announcing the research results.

Oral thin films have become a popular way to deliver medications due to their versatility. They provide fast, local or systemic effects and can be easily applied by themselves—especially for dysphagia patients, geriatric, pediatric or bedridden patients, as well as those that cannot easily access water. The delivery mechanism also bypasses liver metabolism, enabling the delivery of more active ingredients to produce the desired effect with less toxicity.

Targeting Unique Regulatory Pathways

Revive Therapeutics aims to take advantage of regulatory incentives at the FDA, including Orphan Drug, Fast Track, Breakthrough Therapy, and Rare Pediatric Disease designations to rapidly advance drugs through clinical trials using its oral thin-film technology. For example, Orphan Drug designations provide tax credits worth 50% of the clinical drug testing costs and market exclusivity for seven years post-approval. 

After acquiring Psilocin Pharma Corp. and PharmaTher Inc.’s psilocybin program, the company gained access to IND-enabling research for traumatic brain injury and stroke, as well as FDA Orphan Drug qualifying research in neurological and cancer indications. In fact, on April 27, the company filed an application with the FDA for an Orphan Drug designation for traumatic brain injury, where there are no FDA-approved treatments.

The company has also developed a simple method to rapidly-produce psilocybin with E. coli in collaboration with NCSU, which could provide the raw materials for upcoming clinical trials, and eventually, help scale up manufacturing to meet patient demand.

Looking Ahead

The psychedelics industry is rapidly becoming one of the most promising subsets of the pharmaceutical and biopharmaceutical industry. While there are many companies developing clinical products, Revive Therapeutics Ltd. (CSE: RVV) (OTC: RVVTF) has developed a unique delivery technology and plans to target high-value FDA regulatory pathways to pave the way toward more efficacious products, cheaper clinical trials, and more market exclusivity.

Investors should keep an eye on the company given the completion of its research and the potential to advance its psilocybin programs into clinical trials near-term.

For more information, visit the company’s website or download their investor presentation.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.