Who is Mind Cure Health?

The Compass Pathways’ announcement that it is filing for a NASDAQ listing has been generating most of the headlines in the psychedelics space in recent days.
 
Flying under the radar, another private company is also moving to go public. Mind Cure Health Inc., based out of Vancouver, Canada, just filed its IPO prospectus on Sedar on August 27, 2020.

Go through the nuts-and-bolts of Mind Cure’s existing operations, and it’s all about “functional mushrooms”. Functional mushrooms are a large-and-growing market in the dynamic nutritional supplements space – already pegged at $23 billion per year (in 2019) by Mordor Intelligence.

Mind Cure has an existing product line of functional mushroom products (“Moonbeam”), for which it is building both an online and brick-and-mortar distribution network.

However, the Company states its business model in much more general terms.
 

More than just functional mushrooms.

Mind Cure’s additional plans as a health & wellness company become apparent when it discusses its R&D plans in the prospectus.
 

Mind Cure, like most of the psychedelics startups, is working toward a Canadian listing on the CSE. It is seeking to raise between CAD$1 million and CAD$2.6 million for its qualifying transaction.

Functional and psychedelic mushrooms, and other psychedelics R&D as well (per the prospectus).

This is becoming a specific niche within the larger psychedelic drug industry. Why?

We will connect the dots here in an upcoming investor feature.

Compass Pathways may very likely become a core holding in the psychedelic drug sector after it goes public. But as investors look to broaden and diversify their psychedelics portfolio, functional-and-psychedelic mushroom companies like Mind Cure Health offer a new game-plan for investors.