FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Mydecine Brands Wholly-owned Subsidiary, Mydecine Group is Working to Build an Ecosystem of Resources Targeted at Unlocking the Potential of Fungi for Human Wellness.”
Mydecine Brands Inc. (OTC: NLBIF) (CSE: NLB) is pleased to announce that its wholly-owned subsidiary, Mydecine Group (“Mydecine”) is working to build an ecosystem of resources targeted at unlocking the potential of fungi for human wellness. Through a combination of traditional medicine knowledge and modern scientific inquiry, Mydecine strives to bring the public products that will aid them in their journey to personal wellness.
Mydecine Brands Inc. is the parent company operating innovative product divisions in the Naturally Sourced Therapies (NST) space. While controlling a variety of Psilocybin and hemp-derived CBD brands that design, manufacture and distribute cutting edge products, NewLeaf Brands Inc. further enhances its portfolio with numerous cultivation properties, retail locations, and other land assets.
Mydecine Brands Inc. is the progressive and innovative Naturally Sourced Therapies (NST) lifestyle group known around the globe. Focusing on the rapidly emerging psilocybin and psychedelic medicines market, the Company’s wholly-owned subsidiary 1220611 B.C. Ltd. (operating as Mydecine Group) (“Mydecine”) is a vertically integrated company engaged to utilize the vast medicinal, health and wellness capabilities of the various compounds found in mycology as a whole. Established to parallel the early emergence of the industry, Mydecine aims to be a pioneer in the cultivation, processing, product development, and research and development of mycology’s exciting compounds through its three divisions, “Mydecine Farms,” “Mydecine Wellness” and “Mydecine Labs.” Furthermore, the Company’s wholly-owned subsidiaries in the hemp-derived CBD space, We are Kured LLC, Drink Fresh Water LLC, Relyfe Brand LLC, Fresh Water CBD LLC and TeaLief Brand LLC have quickly developed into market leaders and maintain extensive retail and cultivation land investments in the United States.
Lawmakers are beginning to take the first steps towards legalizing psychedelics, which are psychoactive substances that alter perception and mood and affect numerous cognitive processes. According to a research paper published by Eschelman School of Pharmacy, University of North Carolina, psychedelics are generally considered physiologically safe and do not lead to dependence or addiction. The paper, which was published in 2016, discussed the recent and exciting developments in the field which have occurred in clinical research, where several double-blind placebo-controlled phase 2 studies of psilocybin-assisted psychotherapy in patients with cancer-related psychosocial distress demonstrated unprecedented positive relief of anxiety and depression. Two small pilot studies of psilocybin-assisted psychotherapy also have shown positive benefits in treating both alcohol and nicotine addictions. Now, years later, a New York lawmaker introduced a bill to decriminalize psilocybin mushrooms by removing the main active ingredient from the state’s list of controlled substances. “Psilocybin is a naturally occurring chemical compound produced by certain species of mushroom,” the New York legislation states.
The path that psychedelics are taking to looser regulation is reminiscent to that of cannabis. Over the past several years, the cannabis industry has reached several milestones to almost completely redefine itself. Now, medical cannabis is predominantly being used to alleviate symptoms associated with afflictions such as chronic pain, cancer, and epilepsy. The positive data has even led many U.S. states to legalize medical cannabis. And as of 2019, there were 33 states and the District of Columbia that have already moved to legalize medical cannabis. In general, the U.S. was one of the earliest adopters of medical cannabis when California first legalized its medical use in 1996. Since then, a number of countries such Australia, Colombia, Germany, France, Spain, Thailand, and South Korea have all been influenced by the data and moved to legalize medical cannabis.
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