MYDECINE

Psychedelics Seek to Emulate Cannabis' Medical Legalization Model

← Back to all news
June 4, 2020

NEW YORK, June 4, 2020 /PRNewswire/ -- According to data provided by the World Health Organization (WHO), depression is a common illness worldwide, with an estimated 264 million people affected. Depression is different from usual mood fluctuations and short-lived emotional responses to challenges in everyday life. Especially when long-lasting and with moderate or severe intensity, depression may become a serious health condition. In recent years, studies have shown that psychedelic therapy might be the answer. Dr Robin Carhart-Harris, Head of the Centre for Psychedelic Research at Imperial College, London, which opened in April 2019, explained in article by Vogue that "most conventional drugs come with a bunch of side effects and if they work, they often do so through muting a person's emotional range. Psychedelic therapy brings multiple advantages: it can work after just one or two sessions (unlike psychotherapy or standard drugs, which can take weeks or months to work) with minimal toxicity and people can remain well long after the drug has left their bodies, sometimes entirely transforming their sense of well-being and life satisfaction." Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), Planet 13 Holdings Inc. (OTC: PLNHF), Pyxus International, Inc. (NYSE: PYX), New Age Beverages Corporation (NASDAQ: NBEV), Acreage Holdings Inc. (OTC: ACRGF) (CSE: ACRG.U)

Whether or not psychedelic products will achieve the same success as cannabis products remains to be seen. The cannabis industry has greatly evolved in recent years and demand for the medical segment is expected to remain strong. Overall, the growth of the medical cannabis market is likely to be primarily driven by a combination of political, social, and economic. At present, around 30 nations have legalized the therapeutic application of medical cannabis and cannabis extracts. Data published by Transparency Market Research shows that the global medical cannabis market is projected to reach a value of USD 53 Billion by the end of 2027.

Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) announced breaking news earlier this week that, "it has changed its name from NewLeaf Brands Inc. to Mydecine Innovations Group Inc. and its ticker symbol from 'NLB' to 'MYCO'. Subject to approval of the Canadian Securities Exchange (the "CSE"), the Company expects the name and symbol change to take effect on June 2, 2020 when its common shares will begin trading on the CSE under the new name 'Mydecine Innovations Group Inc.' and new ticker symbol 'MYCO'.

Pursuant to the Company's recent acquisition of Mydecine Group, the Company's fundamental business continues to be the development of innovative products in the Naturally Sourced Therapies (NST) space, comprised of the hemp, cannabis, and psilocybin markets. Accordingly, the company believes that the name and ticker symbol change reflects an initiative to align the Company's brand with this new strategic focus. The name change was approved by the board of directors on May 26, 2020.

No action is required by existing shareholders with respect to the name and ticker symbol change.  Certificates representing common shares of NewLeaf Brand Inc. will not need to be exchanged as a result of the name change."

For our latest "Buzz on the Street" Show featuring Newleaf Brands Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=_XdL1HyQCUo

Planet 13 Holdings Inc. (OTCQX: PLNHF) announced earlier this year that following the announcement on April 13th, 2020 that it had terminated a definitive agreement to acquire a cannabis sales license and lease for a dispensary in Santa Ana, California from Newtonian Principles, Inc., it has renegotiated the terms of Acquisition and has entered into an amendment to the Initial Definitive Agreement. "We've evaluated hundreds of locations in California and continue to believe that our Santa Ana location is the best suited for a Planet 13 style dispensary," said Bob Groesbeck Co-CEO of Planet 13. "While we can't forecast how COVID-19 might affect our timeline, we've negotiated an agreement that reduces the upfront capital invested, gives us control over the timing of fixed costs and provides flexibility on dispensary buildout. We de-risked the transaction substantially while securing the next stage of growth for Planet 13."

Pyxus International, Inc. (NYSE: PYX) announce earlier this year that its wholly-owned indirect subsidiary, Figr Brands, Inc., had launched a line of THC vape products in the Canadian marketplace. The line includes a vaping device and pods designed exclusively for the device. The launch of the product line follows the phase two implementation of Canada's recreational cannabis legalization process, frequently referenced as Cannabis 2.0. "The Canadian government's green light for derivative cannabis products, including vape, presents the opportunity for Figr to progress its product diversification in order to meet the growing demand for high-quality, adult-use cannabis products," said Pyxus President, CEO and Chairman Pieter Sikkel. "The launch of Figr's new products is particularly timely, as the company continues to expand its footprint across Canada."

New Age Beverages Corporation (NASDAQ: NBEV) announced last year the approval by the Japanese Narcotics Control Division and the Japanese Ministry of Health for New Age's CBD products in Japan and the company's subsequent launch into the market effective immediately. New Age is the first major company to gain approval by the Japanese Ministry of Health and Narcotics Control Division to sell its portfolio of CBD products in the country. New Age created a separate, wholly-owned subsidiary in 2018 under which it commercializes all of its CBD-infused products, including its line of Marley CBD-Infused Beverages and its portfolio of 'Nhanced creams, oils, and roll-ons, and the forthcoming Noni+CBD product. The products will be sold immediately through over 50,000 direct-to-consumer product consultants in Japan. Fumiyuki Isami, Senior Director in Japan for New Age, commented: "New Age is proud to introduce our lineup of CBD products to Japanese consumers and to be first with CBD in Japan. We believe we have one of the highest quality CBD portfolios worldwide and have leveraged all of our scientific insights and research and development expertise to develop these superior performing and highly efficacious products. We have been working intensively with the Japanese Narcotics Control Division and the Ministry of Health for the past eight months to meet all of their stringent testing and requirements. This week, we finally cleared those hurdles, the first major company in the country to do so."

Acreage Holdings Inc. (OTCQX: ACRGF) (CSE: ACRG.U) announced earlier this year the opening of The Botanist in Spring Hill, Florida, a suburb of Tampa. The medical cannabis dispensary is Acreage's first retail location in the state. Developed by Acreage, The Botanist is both a retail and product brand, deeply rooted in health and wellness, and focused on the holistic power of cannabis to help individuals live balanced lifestyles. The Botanist offers a wide selection of cannabis-derived products and features a "science meets nature" retail design reminiscent of a 19th century botanist laboratory. Offering a warm and inviting environment in which to learn about the healing properties of the cannabis plant from trained patient care specialists, the Spring HillBotanist dispensary includes a private consultation room, The Botanist's signature "green foliage wall," and much more.Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) and and EnWave Corporation  announced recently that the companies have entered into a royalty-bearing commercial license agreement, providing Aurora with the exclusive rights to EnWave's patented Radiant Energy Vacuum (REVTM) drying technology for the production of cannabis materials in the European Union, excluding Portugal. Aurora has also secured exclusive license options for both Australia and South America, excluding Peru, exercisable pursuant to minimum REV™ machine purchase order requirements. Additionally, Aurora has signed a non-exclusive sub-license to use REV™ technology in Canada.