TORONTO, July 16, 2020 (GLOBE NEWSWIRE) — Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or “Blueberries“), a Latin American licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce it has closed a non-brokered private placement offering (the “Offering”) of C$1,000,000 in principal amount of unsecured convertible debentures (the “Debentures”). The financing included a strategic investment by Mr. Facundo Garreton, a successful entrepreneur who has built and grown many businesses in Latin America and globally.
Mr. Garreton stated: “I am very happy to join the Blueberries team. I consider it to be one of the cannabis companies with the greatest potential in Latin America, not only for its productive operations in Colombia, but also for the excellent team and unique extraction capabilities, which complement other initiatives in which I am involved. I am increasingly committed to this exciting cannabis industry, in a world where more and more people are suffering from various medical conditions and scientific research suggests that cannabis has significant therapeutic potential to improve their quality of life. We will work with Blueberries on various initiatives, including research and the cannabis production value chain to help many people with ailments and with alternative solutions based on the cannabis plant.”Camilo Villalba, Chief Executive Officer of Blueberries, stated, “We are excited to announce the strategic investment from Mr. Garreton. This investment from a successful entrepreneur with deep industry knowledge and relationships in Latin America is highly strategic and will provide significant value to Blueberries as we enter this exciting phase of our business development.”About Facundo GarretonMr. Garreton is a successful entrepreneur in the fields of innovation, technology and life sciences, and a former member of Congress in Argentina. His successful track record as an entrepreneur includes founding InvertirOnline.com, one of Latin America’s largest online brokerage firms, as well as founding and serving as director of SociaLab and Sistema B, the most important platform for social entrepreneurs in Latin America. Mr. Garreton has invested in other cannabis companies including YVY Life Sciences in Uruguay and Flow Kana in California. Mr. Garreton is a director of various successful companies such as: YVY Life Sciences, Pachama.com, VU Security, Untech.bio, Bulltick, GoodPeople, Inipop.com and others. Also, he is an investor in companies such as ClaraFoods, TheNotCompany, Blue Planet Ecosystems, Memphis Meat, Cambridge Crops, Electro-Active Technologies (EAT), Unbox Robotics, Prellisbio.com and MycoWorks.The Company intends to use the proceeds from the Offering for inventory production, product launch, commercialization, additional capital investments at its GMP-compliant extraction and processing facility and general working capital purposes.The Debentures will mature 24 months from the date of closing (the “Maturity Date”) and bear interest at a rate of 13% per annum. The Debentures will be convertible at the option of the investors, in whole or in part, into common shares of the Company (the “Shares”) at a conversion price of the lower of: (i) C$0.065 per Share or; (ii) the volume-weighted average price of the Shares on the Canadian Securities Exchange (“CSE”) for the 15 consecutive trading day period ending on the Conversion Date subject to a minimum conversion price of C$0.05. Prior to the Maturity Date, the Company may prepay all or part of the outstanding principal amount of the Debenture and any accrued and unpaid interest thereon at any time and from time to time, provided that prior to such prepayment, the Company must provide the investors with at least five business days prior notice of such intention to make such prepayment at which time the investors may, but shall not be obligated to, convert any or all of the Debentures in accordance with the terms of the Debentures.C$814,647 in principal amount of Debentures were indirectly acquired by Mr. Facundo Garreton through an investment by Glassford S.A. (“Glassford”), a company controlled by Mr. Garreton. On August 1, 2020, provided the Debentures are outstanding or, upon conversion of the Debentures into Shares, as long as Glassford holds at least 8% of the issued and outstanding Shares, Blueberries will appoint an individual identified by Glassford as a director of the Company and nominate this individual as a director at future annual shareholder meetings of the Company.Mr. Facundo Garreton currently exercises control over 2,110,125 Shares, representing approximately 1.71% of the Company’s issued and outstanding Shares. Following completion of the transaction, Mr. Garreton will own, on an as converted basis (presuming his Debentures are converted at a price of C$0.065 per Share) 14,643,155 Shares, representing approximately 10.75% of the outstanding Shares assuming the conversion of his Debentures.Mr. Garreton will prepare and file a report containing the information required by Form 62-103F1 – Required Disclosure under the Early Warning Requirements in connection with the matters referred to in this press release. Once filed, a copy of the early warning report will be available under the Company’s issuer profile on SEDAR at www.sedar.com.About Blueberries Medical Corp.Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia. The Company is led by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries is fully licensed for the cultivation, production, domestic distribution, and international export of CBD and THC-based medical cannabis in Colombia. Blueberries’ combination of leading scientific expertise, agricultural advantages and distribution arrangements has positioned the Company to become a leading international supplier of naturally grown, processed, and standardized medicinal-grade cannabis oil extracts and related products.Additional information about the Company is available at www.blueberriesmed.com. For more information, please contact:Camilo Villalba, Chief Executive Officer
Tel: +57 (313) 483 0131Ian Atacan, Chief Financial Officer
Tel: +1 (416) 562 3220Cautionary Note Regarding 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 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, among other things, to the proposed use of proceeds from the Offering.These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: fluctuations in general macroeconomic conditions; fluctuations in securities markets; expectations regarding the size of the Colombian and international medical cannabis market and changing consumer habits; the ability of the Company to successfully achieve its business objectives; plans for expansion; political and social uncertainties; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on cultivation, production, distribution and sale of cannabis and cannabis related products in Colombia, Argentina and elsewhere; and employee relations. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. 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.Additional information regarding the Company, and other risks and uncertainties relating to the Company’s business are contained under the heading “Risk Factors” in the Company’s Listing Statement dated January 31, 2019 filed on its issuer profile on SEDAR at www.sedar.com.No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Better Plant Sciences Subsidiary NeonMind Signs Psilocybin Supply Agreement for Clinical Trials
Vancouver, British Columbia–(Newsfile Corp. – September 29, 2020) – Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant“) or (the “Company“) is pleased to announce that its majority owned subsidiary NeonMind Biosciences (“NeonMind“) has entered into a definitive agreement with Psygen Labs Inc. (“Psygen“) for the supply of psilocybin for NeonMind’s planned preclinical, and clinical trials to study the use of a drug product including Psilocybin for the treatment of food cravings and anxiety. The agreement was signed on September 28th, 2020.
Figure 1: Better Plant Sciences Subsidiary NeonMind Signs Psilocybin Supply Agreement for Clinical Trials
To view an enhanced version of Figure 1, please visit:
Psygen is currently acting as broker between NeonMind and a licensed dealer of restricted drugs (the “Licensed Dealer“). The Licensed Dealer holds a dealer’s licence issued under Part J of the Food and Drug Regulations (a “Dealer’s Licence“). The Supply Agreement provides that Psygen will supply the psilocybin directly once Psygen holds a Dealer’s Licence. Psygen currently has a pending application for a Dealer’s Licence.
“Psilocybin is known to activate serotonin receptors,” says Dr. William Panenka, lead scientific advisor to NeonMind. “As a neurotransmitter, serotonin helps to relay messages from one area of the brain to another. Serotonin is responsible for some of the drivers which govern eating. We are very interested in furthering studies to test various dosing regimens for NeonMind to see the effects that psilocybin may have on the serotonin receptors that regulate food cravings.”
“Psygen’s mission is to fill a supply gap for restricted drug substances and restricted drug products for use in clinical trials and in pre-clinical research,” says Danny Motyka, CEO of Psygen Labs Inc. “We have brokered supply of various restricted drugs for pre-clinical studies and clinical trials through our relationship with a Licensed Dealer. Psygen is currently building out a commercial manufacturing facility designed for high-volume output of psychedelic drug substances and drug products, filling a niche in the evolving psychedelic medicine ecosystem. Today these psychedelic drug substances are classified as restricted drugs, meaning no recognized medical use in Canada, and we are playing our part in moving those substances to the controlled drugs schedule of the Food and Drug Regulations or otherwise providing compliant access to psilocybin and other psychedelics.”
In December 2019, NeonMind filed a U.S. provisional patent application in the United States for the invention relating to therapeutic administration of psilocybin to provide weight loss benefits and potential treatment or regulation of diabetes, and regulation of blood glucose, and to reduce susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus, hypertension, multiple sclerosis, erectile dysfunction, urinary incontinence, chronic renal failure, sleep apnea, asthma, and certain forms of cancer.
In May 2020, NeonMind completed the design of a preclinical trial to confirm that psilocybin is an effective treatment for weight loss and food cravings (the “Trial“). In July 2020, the scientific investigator chosen to lead NeonMind’s preclinical trial submitted a Section 56 Exemption application to Health Canada for the use of psilocybin in the Trial. An exemption must be granted and a final agreement entered into with the laboratory before the Trial can begin.
According to the World Health Organization, in 2016, more than 1.9 billion adults or 39% of adults, 18 years and older, were overweight. Grandview Research projects that the global weight management market is expected to grow at a compound annual growth rate of 8.3% from 2019 to 2025 to reach USD $442.3 billion by 2025.
About Psygen Labs Inc.
Psygen is a privately held company based in Calgary, Alberta. Psygen specializes in synthetic manufacture of psychedelic drug substances and drug products. Psygen provides non-exclusive access to GMP compliant psychedelic drug substances and drug products for clinical trials, therapeutic applications and pre-clinical studies. Psygen has entered into a number of definitive agreements for ongoing supply of drug substances and is positioned to be a lead supplier in the emerging commercial market for psychedelic drug substances and drug products. Psygen has sponsored a Licensed Dealer who holds a license for the manufacture, sale, import, export, and analysis of LSD, psilocybin, MDMA, DMT, 2C-B, and mescaline. Chemists working with Psygen currently operate from a manufacturing laboratory at the University of Alberta. Psygen has applied to Health Canada for a Dealer’s License that will allow Psygen to manufacture, possess, sell, import, export, research, develop, and analyze psychedelic drug substances and drug products. Psygen is currently building out a 6,000 square foot lab capable of large-scale synthesis, formulation and distribution of the above and additional psychedelics to a GMP standard. Psygen intends to be the leader in psychedelic medicine supply chain solutions and is committed to supporting the renaissance in use of psychedelics for research and clinical treatment of a wide variety of mental health issues.
About NeonMind Biosciences Inc.
NeonMind is engaged in research and development of products that use medicinal and psychedelic mushrooms to optimize human health and performance. The company is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents. NeonMind owns 18% of Translational Life Sciences Inc. Better Plant Sciences owns approximately 69% of the issued and outstanding stock of NeonMind.
About Better Plant Sciences Inc.
Better Plant develops and acquires intellectual property and other assets related to plant-based products and therapeutics. Through its integrated business model, Better Plant develops, manufactures, markets, sells and distributes plant-based products. It has over 200 proprietary wellness formulas at various stages of commercialization, including over 20 proprietary products that are now for sale via eCommerce or brick-and-mortar retail stores. It operates websites and oversees eCommerce and Amazon sales for over 200 JUSU plant based products for body, baby and home and has announced it will acquire all JUSU Bar Inc. assets. Its majority-owned subsidiary NeonMind Biosciences Inc. is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion’s mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents.
Investor Relations Contact:
Penny White, President & CEO
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company’s products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64798
CGOC Announces Management Changes and Director Appointment
Toronto, Ontario–(Newsfile Corp. – September 28, 2020) – Cannabis Growth Opportunity Corporation (CSE: CGOC) (“CGOC“, or the “Company“), a cannabis focused investment corporation with both public and private cannabis holdings, announced today that Paul Andersen, the Company’s Chief Financial Officer, has been appointed as the Company’s Chief Executive Officer replacing Sean Conacher, the Company’s former Chief Executive Officer. Mr. Phillip Millar has been appointed as the President and Chief Operating Officer and Michael Johnston will replace Mr. Andersen as the Chief Financial Officer and Corporate Secretary and has also been appointed as a director of the Company. Each of the foregoing changes are effective immediately.
Mr. Millar has extensive experience in the North American Cannabis market as a senior executive. His legal and military training brings a refreshing perspective to a market that values integrity, accuracy and reliability. The Company’s board of directors believes that Mr. Millar’s strategic vision and ability to synergize and coordinate multiple stakeholders towards a shared mission will add value to shareholders.
Mr. Johnston is a CPA, CA, and is currently the chief financial officer of Minsud Resources Corp., a mineral exploration company trading on the TSX Venture Exchange. From November 2015 to April 2018, he was the CFO of Canada House Wellness Group Inc., a Canadian cannabis company that currently produces medical grade cannabis and operates several clinics across Canada
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC’s main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with the Company’s business plan and matters relating thereto, and risks associated with the Company’s investments and financial objectives, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company’s public filings on SEDAR. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
For further information please contact Cannabis Growth Opportunity Corporation:
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64803
Red Light Holland Reaches Distribution Agreement for iMicrodose Packs Plus Agrees to Build out an iMicrodose Media Information Centre (iMIC) with Super Smart’s Location in Tiel, The Netherlands
Toronto, Ontario–(Newsfile Corp. – September 28, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce their iMicrodose Packs (“iMicrodose Packs“) powered by Red Light Holland are expected to be available early October 2020 in PharmaDrug Inc.’s (“PharmaDrug”) wholly-owned subsidiary Interrobang Ltd.’s (doing business as Super Smart) (“Super Smart“) store in Tiel, The Netherlands, as Red Light Holland has reached a distribution agreement with Super Smart.
Red Light Holland has also reached an agreement with Super Smart to build and set up an iMicrodose Media Information Centre (“iMIC“) in Super Smart’s Tiel location, expected to be ready before the end of 2020.
“Super Smart’s vision and iMicrodose’s vision truly align,” said Todd Shapiro, CEO and Director of Red Light Holland. “Both companies are focused on educating, informing and modernizing the psychedelic industry within the Netherlands. We are very excited to soon have another store where our product is sold to expand our exposure and marketplace. Equally as important, we are proud to set up our first iMicrodose Media Information Centre – iMIC – where we plan on eventually providing Super Smart with our Virtual Reality Headset where consumers can truly learn about our iMicrodose packs and the origins of the product, as well as hope to receive important customer feedback, as we want to give all consumers a voice for important information gathering and responsible-use feedback via our planned iMIC activation.”
“Red Light Holland has definitely already taken initial steps to modernize the industry, in the Netherlands, and we are so pleased to reach an agreement to house their responsible use product in our Tiel, Location, expected in Early October, 2020,” added Dan Cohen, CEO of PharmaDrug. “Together we want to elevate the industry, educate consumers and intelligently target all Adult Demographics for potential increased sales via new customers with an informational, technological and modern approach.”
Super Smart’s Tiel location is located in Central Netherlands and is the only smart shop within a 75 kilometre radius. iMicrodose Packs powered by Red Light Holland are expected to be in Smart Shop’s Tiel store in October, 2020.
iMicrodose Packs powered by Red Light Holland
To view an enhanced version of this image, please visit:
About Red Light Holland Corp.
The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
About PharmaDrug Inc.
PharmaDrug Inc., is building an international controlled substance and natural medicine company with a focus on Europe. PharmaDrug Inc., owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.
For further information, please contact:
Daniel Cohen, Chairman and CEO
Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, anticipated timeline with respect to iMicrodose products being available in Super Smart’s Store in Tiel and Red Light Holland and the anticipated timeline of the build out of the iMic, and Red Light’s plans to offer Virtual Reality Headset. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that iMicrodose products will be in Super Smart’s Tiel Location by October, 2020, nor are their guarantees that their Media Information Centre will be activated before the end of 2020. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64718
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