SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the “Company” or “SpeakEasy“) a holder of a federal licence to cultivate, process and sell cannabis under the Cannabis Act is excited to announce it is 4 months into a 6-9 month application process to receiving its Narcotics Dealers License (“NDL”) in-order to develop and standardize psilocybin cultivation. A NDL licenced dealer may produce, assemble, sell, provide, transport, send, deliver, import or export a controlled drug (psilocybin) if they comply with the terms and conditions of their dealer’s licence and any permit issued under the licence.
SpeakEasy’s Narcotics Dealers Licence
In early January this year, SpeakEasy began the application process for an NDL and a section of SpeakEasy’s processing building has been earmarked as the location for the research and development area that would house a licence referred to as an NDL. The NDL allows research, development, purchase and sales among other activities of narcotics. SpeakEasy’s intent is to acquire a full catalogue of psilocybin bearing mushroom genetics in-order to develop cultivation methods, standardize potency and develop extracted concentrated products in preparation and with the expectation of the legalization of psilocybin in the Canadian market. SpeakEasy expects to complete the extensive review process and receive its NDL later this year with the total licencing process taking between six and nine months. Upon receipt, the Company intends to immediately begin the process of preparing for the anticipation of the legal market.
Founder Marc Geen states, “Agriculture has always been the core of SpeakEasy‘s business and psilocybin production is not much different. Commercial mushroom production is very similar to cannabis production, especially considering both are controlled substances and likely will fall under a similar set of regulations. We are in a great position to be able to be at the forefront of the growing psilocybin market and also apply SpeakEasy‘s farming knowledge to the production of magic mushrooms adding efficiency, high-quality production at an economical costs of production.”
Why SpeakEasy is Focused on the Psilocybin Market
Compelling evidence of the therapeutic benefits of psychedelic drugs appears in multiple scientific studies. Several clinical trials are underway in the United States and worldwide to investigate the therapeutic effects of psilocybin, the active component in the fungi known as “magic mushrooms.” There is new hope for treating debilitating disorders such as depression, anxiety, post-traumatic stress disorder, anorexia, obsessive-compulsive disorder, and addictions. Multiple efficacy studies going on around the world in areas that encompass life-disrupting psychiatric and neurological conditions such as major depressive disorder (MDD), addictions, and other mental illnesses. A successful outcome could completely upend treatment protocols(2).