Vancouver, British Columbia–(Newsfile Corp. – September 4, 2020) – Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (“Sweet Earth” or the “Company“) is pleased to announce further to its news release dated August 21, 2020 it has closed a non-brokered private placement of 13.4 million units (“Units“) of the Company at a price of $0.20 per Unit to raise total proceeds of approximately $2,682,000 (the “Offering“).
Each Unit consists of one (1) common share in the capital of the Company (a “Share“) and one (1) transferable common share purchase warrant of the Company (a “Warrant“). Each Warrant entitles the holder to purchase one additional common share (a “Warrant Share“) at an exercise price of $0.25 per Share for a period of 12 months from the closing date of the Offering.
In connection with the Offering, the Company paid cash finder’s fees in the amount of $4,200 and issued a total of 21,000 broker warrants (the “Broker Warrants“). The Broker warrants have the same terms as the Warrants issued under the Offering, but are non-transferable.
All securities issued in connection with the Offering will be subject to a statutory four-month hold period expiring December 26, 2020.
The Company intends to use the proceeds from the Offering for the development of new product lines, company and new product marketing costs, as well as working capital and general corporate purposes.
Three directors of the Company participated in the Offering and acquired an aggregate of 300,000 Units. Such participation constituted a “related party transaction” as defined under Multilateral Instrument 61‐101 (“MI 61‐101“). The issuance to the directors is exempt from the formal valuation and minority shareholder approval requirements of MI 61‐101 as neither the fair market value of any securities issued to nor the consideration paid by such persons exceeded 25% of the Company’s market capitalization.
About Sweet Earth
Sweet Earth is a vertically integrated “farm to shelf” hemp grower with a farm in Applegate, Oregon, that maintains a full line of hemp and CBD products for the US and global market. Its products combine CBD with herbal and organic ingredients, all of which are selected for their beneficial properties to soothe, rejuvenate, and reduce inflammation. In addition to high-end finished products, Sweet Earth prides itself on sustainability by minimizing the use of plastics in both production and packaging. Sweet Earth’s in-house genetics team has been working on its own proprietary hemp strain. This strain has been grown in its indoor greenhouse resulting in high yielding CBD rich flower. Sweet Earth looks forward to planting this new strain outdoors for the 2020 season. Sweet Earth products are sold on its website: www.sweetearthcbd.com.
ON BEHALF OF THE BOARD
Chris Cooper, Director
For additional information contact:
Peter Espig / CEO and Director
Telephone: (778) 385-1213
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
The securities being referred to in this news release have not been, nor will they be, registered under the United States (U.S.) Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE 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/63215
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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