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Roadman Investments Corp RMANF is trading once again...
$RVVTF ALERT COVID-19 | Revive Therapeutics Announces U.S. FDA Approval of Confirmatory Phase 3
http://thestocksmarket.net/2020/07/31/alert-covid-19-revive-therapeutics-announces-u-s-fda-approval-of-confirmatory-phase-3/
Company is into Mushroom PSILOCYBIN therapy also ...
Anyone know when/if Roadman Investments RMANF will trade again?
WUHN - .24 up and hit with a big block. I'm still adding!
$WUHN having a strong session here
After looking at all of the Shroom stocks listed in the I-Box I would have to agree - WUHN has the best potential for gains from current levels.
Yes I have! $WUHN might be Creme de la Creme bro
Have you looked at the IBOX? If I missed anything, let me know.
Hey John do we have a comprehensive list of shroom stocks?
Home > Boards > US OTC > Medical - Healthcare > Numinus Wellness Inc. (LKYSD)
Psychedelic Penny Stocks To Watch Amid The Mushroom Boom
psychedelic mushroom penny stocks to watch right now
May 20, 2020, 11:54 America/New_York
By J. Samuel
MMED:AQL,MMEDF,mushroom stocks,NUMI stock,NUMI:CA,penny stocks,penny stocks to watch,phsychedelic penny stocks to watch,psychedelic penny stocks,psychedelic stocks,RVV:CNX,RVVTF,SHRM stock,SHRM:CNX,SHRMF
Psilocybin, MDMA, Ayahuasca & Other “Mind Medicine” Are Propelling Psychedelic Stocks; Are Any On Your Watch List?
While most are trying to navigate COVID-19, investors are looking to get in on the next big trend. Like marijuana a few years ago, penny stocks offered the “emerging opportunity” to invest in the new trend. Fast-forward to 2020 and now it’s become all about psychedelic stocks. Yes, I’m talking about “mushrooms stocks,” “ayahuasca stocks,” “MDMA stocks,” and plenty of other names. But the best part is that most, if not all are psychedelic penny stocks right now. Some of the big named investors include former cannabis pioneer Bruce Linton and even infamous Shark Tank star Kevin O’Leary.
While this emerging trend is currently in the most infant of infancies, there’s a clear desire for more information about mushroom stocks right now. But what’s the reasoning behind the trend? Science has begun tapping into the central nervous impact that these drugs have on humans.
4 Penny Stocks On Robinhood & WeBull To Buy For Under $4
Whether it’s anxiety, addiction, depression, etc. a slew of scientific trials indicate that psychedelics may be a clear solution and even a cure. Now, investors have gotten involved and companies are beginning to go public. Again, among the most popular public companies are psychedelic penny stocks (for now).
Time To Watch Mushroom Stocks?
Just like the early days of cannabis legalization, we’ve begun to see a trend emerge from our neighbors to the north. There is also growing evidence that U.S. research has shown potential for these psychedelics used in a controlled setting. There’s even the start of a recreational movement. Denver has become the first in the U.S. to actually decriminalize psychedelic mushrooms.
With the emergence of this new trend, it’s important to understand while there are high risks with any new industry, there could also be potential rewards. If marijuana penny stocks were any indication, then psychedelic penny stocks might not be a bad idea to have on the list of penny stocks to watch right now.
Psychedelic Penny Stocks To Watch: Revive Therapeutics
Revive Therapeutics
Revive Therapeutics (RVV Stock Report) (RVVTF) has been in the news recently for its work with the drug Bucillamine. The goal is to use it as a potential treatment for infectious diseases including COVID-19. In an update this week, Revive said it aims to submit its FDA IND package in June 2020 and expects to obtain FDA acceptance to proceed to a Phase 3 study. The Company is also seeking to conduct a clinical study with Bucillamine in the treatment of COVID-19 in Canada and is preparing its pre-Clinical Trial Application package to Health Canada.
But there’s another side to Revive and that comes with its previous acquisition of Psilocin Pharma Corp. Psilocin has developed patent-pending formulation and production solutions for the active compound Psilocybin. The process encompassed with its intellectual property cover methods of production of Psilocybin-based formulations. Psilocin has developed formulations which include the Hydroxy Line. According to the company, this line will include PSY-0.1 -Capsules, PSY-0.2-Sublingual Spray, PSY-0.3 -Gel Cap, PSY-0.4/0.5 -Effervescent Tablets, and PSY-0.6-Breath Strips.
The company has said that the “precisely dosed formulations will work with both natural and synthetically derived Psilocybin. It will be targeted for clinical research and subject to U.S. FDA approval in the treatment of depression, anxiety, bipolar disorder, bulimia and anorexia nervosa, and a number of other diseases. Revive also entered into a sponsored research partnership agreement with the University of Wisconsin-Madison.
It is to evaluate novel formulations and drug delivery technology focused on psilocybin-based pharmaceuticals. Under the agreement, Dr. Reed and his research team will evaluate psilocybin-based formulations and the patented Tannin-Chitosan composite drug delivery technology for psilocybin. Revive has an exclusive licensing of this technology with the Wisconsin Alumni Research Foundation.
Psychedelic Penny Stocks To Watch: Numinus Wellness Inc.
LKYSD OTC GREY MARKET $0.73
NUMINUS WELLNESS INC.
Numinus Wellness Inc. (NUMI Stock Report) is the latest entrant to the list of mushroom penny stocks to watch. The company IPOd on May 20th opening at $1CAD. The company went public via a reverse take over, and was formerly Rojo Resources. What’s also of note is that In connection with the Transaction, on March 3, 2020, the company closed a non-brokered private placement of 22,980,000 subscription receipts at a price of $0.25 per Subscription Receipt for gross proceeds of $5,745,000. Needless to say, NUMI stock has taken off on May 20 in light of the recent sector hype.
Numinus offers psychedelic treatments, however, psychedelic therapies are not currently available at our Vancouver center. The company has said that “Once approved by Health Canada and various Colleges, our centre will be ideal places for psychedelic therapies to take place in a safe, controlled therapeutic environment.”
However, during this waiting period, Numinus is tapping its other operating pillars that include Numinus Bioscience and Numinus R&D. Numinus was issued a dealer’s license under the Controlled Substances Act in July 2019. Its Numinus Bioscience specifically, is licensed by Health Canada to test, sell, distribute, and eventually conduct research on psychedelic substances. The biggest question right now is will NUMI stock psych-out investors with the discounted shares or will it ease early concerns and move to new highs before the end of the week?
Psychedelic Penny Stocks To Watch: Champignon Brands
psychedelic stocks Champignon Brands (SHRM stock SHRMF stock)
Champignon Brands (SHRM Stock Report) (SHRMF) is another one of the early psychedelic stocks to watch. The company focuses on ketamine for treating PTSD. Currently, the company has 4 subsidiaries aimed at addressing this growing market need. These include Altmed, Novo Formulations, Tassili Life Sciences Corp, and Vitality Superteas.
Earlier this year, the company closed a deal with a Canadian pharmacy chain. According to the company, Champignon will leverage the Pharmacy’s existing infrastructure to distribute or “central fill” ketamine topical prescriptions to a network of Canadian medical and pain/addiction clinics.
“With this arrangement, Champignon boasts complete vertical integration with respect to our rapid onset ketamine treatments and therapies. From novel formulations to product development at a purpose-built GMP and DIN licensed pharmaceutical facility, and now automated prescription fulfillment and on-site compounding infrastructure, we have managed to capture the entire product lifecycle,” commented Gareth Birdsall, CEO of Champignon.
While shares of SHRM stock have soared recently, Wednesday saw the first major pullback in the market. However, given the newfound attention following the NUMI IPO, it could be something the market continues to monitor.
Psychedelic Penny Stocks To Watch: Mind Medicine Inc.
psychedelic penny stocks to watch Mind Medicine (MMED stock MMEDF stock)
No list of mushroom stocks or psychedelic stocks would be complete without Mind Medicine Inc. (MMED Stock Report) (MMEDF). We actually discussed this company when it first went public earlier this year. The company’s developing two categories of medicine based on psychedelics. These include hallucinogenic therapies and non-hallucinogenic products. Mind Medicine raised $24.2 million ahead of its IPO and has also attracted some interesting investors.
These include Blake Mycoskie, founder of Toms Shoes, Shark Tank’s Kevin O’Leary, as well as the former captain of the ship at Canopy Growth (CGC Stock Report), Bruce Linton. While the penny stock hasn’t seen much of an epic move, it hasn’t fallen too much either. Besides a quick rally in late-April, it’s been mostly a sideways trend since the IPO.
In a recent collaboration with University Hospital Basel’s Liechti Laboratory, it has discovered and filed a patent application in the United States (preserving all worldwide rights). It’s for a neutralizer technology intended to “shorten and stop the effects of an LSD trip during a therapy session”. According to Mind Medicine, this discovery, when further developed, may act as the ‘off-switch’ to an LSD trip.
The company gained exclusive, worldwide rights to technology covered by the recently filed patent application. It was based on inventions previously generated by the Liechti Laboratory in LSD and any future LSD research funded by MindMed. Co-Founder and Co-CEO JR Rahn said, “The innovative and original work of the Liechti Laboratory is a treasure trove of novel data on LSD. We are just at the beginning of several significant discoveries that have the potential to further the application of psychedelics as therapeutic medicines.”
Here is an area of concern that should raise a red flag for anyone investing in US companies. I looks to me that rather than doing the right thing and brining in legislation that will help people heal, the feds are going to double down on the bs they keep reinforcing in the bogus war on drugs. This is why I am avoiding investments in the US. They are so entrenched in abusing their population and now we have 2 anti drug guys running for president so the abuse will continue. So sad they could have been very successful and led the world.
https://www.federalregister.gov/documents/2020/05/15/2020-09469/criteria-for-designation-of-emerging-drug-threats-in-the-united-states
Interview with SHRMF CEO Roger McIntyre https://psilocybinalpha.com/news/interview-with-roger-mcintyre-champignon-brands
There is a company I would like to put on the radar here, I have owned it for a while but they have just expanded their operation to include psychoactives. It started as New Wave Esports, they just did a 3:1 reverse split and changed their ticker from NWES to SPOR they bought Anahit pharma company. They are supposedly aiming to grow mushrooms and cannabis in Jamaica. They just completed the changes this week. I am going to keep what I have since if they actually execute, they will have online gaming, online betting, cannabis and mushrooms.... everything needed for staying at home and avoiding being sad. They do not have an ihub page and I do not have the talent to make one. I just wanted to let you folks know about them, so many here have given me wonderful tips over the years I just wanted to make you aware. I do not know the management. I saw an interview with Daniel Mitre last summer but he seems to have been shaken out by this new expansion from exclusively esports to the psilocybin and cannabis e sports combo.
Here is a link to the details of the deal.
https://thecse.com/en/listings/technology/new-wave-esports-corp
MindMed reports first quarter 2020 results
https://www.otcmarkets.com/stock/mmedf/news/MindMed-Reports-First-Quarter-2020-Results-and-Corporate-Update?id=262023
MMEDF NEWS 5/11/2020:
MindMed Advances Phase 2 LSD Microdosing Trial For Adult ADHD, Appoints Principal Investigator
Signs Clinical Trial Agreement With Maastricht University In Netherlands
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, May 12, 2020 /CNW/ -- Mind Medicine (MindMed) Inc. (NEO: MMED; OTC: MMEDF) ("MindMed" or the "Company") is pleased to announce that, on May 8, 2020, it has entered into a clinical trial agreement with Maastricht University to undertake a Phase 2a clinical trial for lysergic acid diethylamide ("LSD") in adult patients with Attention Deficit Hyperactivity Disorder ("ADHD"). MindMed previously established a microdosing division to develop a portfolio of clinical trials studying the use of sub-perceptual amounts of psychedelic substances for medical purposes.
As part of the agreement, Maastricht University will provide facilities and personnel for the Phase 2a Proof of Concept Clinical Trial for MindMed's multicentre, randomized, double-blind, placebo-controlled trial evaluating the safety and efficacy of low dose LSD as treatment for ADHD in adults.
Dr. Kim Kuypers, associate professor, Department of Neuropsychology & Psychopharmacology at Maastricht University will serve as a Principal Investigator for the Phase 2a Clinical Trial. Dr. Kuypers is a leading clinical investigator in the field of psychedelics and has previously evaluated the concept of microdosing in other research. Her main goal as a clinical researcher is to understand the neurobiology underlying flexible cognition, empathy, and well-being.
MindMed is now advancing its LSD microdosing program with both Dr Kuypers and the previously announced partnership with University Hospital Basel's Liechti Lab. MindMed is currently in the regulatory ethics submission process in the Netherlands and plans to begin the Phase 2a clinical trial by the end of the year.
MindMed Co-Founder and Co-CEO, JR Rahn, said, "Working with Dr. Kim Kuypers, one of the leading research experts for microdosing of psychedelics, has the potential to help millions of adults through the development of innovations for coping and treating ADHD. Our work in the Netherlands will complement our existing collaboration with University Hospital Basel's Liechti Lab to better understand the therapeutic potential of microdosing."
Champignon Appoints Dr. Roger McIntyre as Chief Executive Officer
05/11/2020
VANCOUVER, British Columbia, May 11, 2020 (GLOBE NEWSWIRE) -- Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF), a human optimization sciences Company with an emphasis on ketamine and psychedelic medicine, is pleased to announce that it has appointed Dr. Roger McIntyre as Chief Executive Officer.
Dr. McIntyre is a Professor of Psychiatry and Pharmacology at the University of Toronto and Head of the Mood Disorders Psychopharmacology Unit at the University Health Network, Toronto, Canada. Dr. McIntyre is also Executive Director of the Brain and Cognition Discovery Foundation in Toronto; Director and Chair of the Scientific Advisory Board of the Depression and Bipolar Support Alliance (DBSA) in Chicago, Illinois.; Professor and Nanshan scholar at Guangzhou Medical University; and Adjunct Professor at the College of Medicine at Korea University.
Furthermore, Dr. McIntyre is a Clinical Professor at the State University of New York (SUNY) Upstate Medical University, Syracuse, New York, and a Clinical Professor, Department of Psychiatry and Neurosciences, at the University of California Riverside School of Medicine.
Dr. McIntyre had the vision to implement and develop Canada's first ever treatment center, the Canadian Rapid Treatment Centre of Excellence (the “CRTCE”), providing rapid-onset treatments for persons with mood disorders. The CRTCE is involved in knowledge application (using existing scientific research to improve outcomes in depression, PTSD and substance and alcohol use disorders [DPS]); knowledge generation (new research and development); and knowledge application (educating health care providers throughout North America and the world on new rapid-onset treatments for DPS).
The CRTCE is the only center in North America and globally to demonstrate that rapid-onset treatments improve health outcomes in one to two weeks and get people back to work, which is of enormous importance to individuals, as well as payers in the private space.
“My overarching aim as Chief Executive Officer is to establish Champignon as the apotheosis of integrated ketamine treatment delivery and the commercialization of our own IP psychedelic-based treatments. The clinical infrastructure, complementary asset base and human capital that Champignon has acquired leaves me very confident we will provide life changing treatments for persons with depression, all the while contemporaneously rewarding our investor base,” stated Dr. McIntyre. “I have been honored as a Professor of Psychiatry and Pharmacology at the University of Toronto, as well as a Professor at Universities across the United States and Asia and currently head the world’s largest clinical R&D network in Depression.
The Canadian Rapid Treatment Centre of Excellence, that I envisaged and successfully implemented, is the world’s first integrated clinical and R&D centre in ketamine and psychedelic-based treatments and is identified as the most influential scientific centre for depression research.”
Clarivate Analytics has named Dr. McIntyre one of the World's Most Influential Scientific Minds each year from 2014 to 2019. Dr. McIntyre is widely regarded as the world's most recognized psychiatrist in relation to mood disorders. He has extensive experience collaborating with private sector partners, including, but not limited to, entities within the pharmaceutical industry, the insurance industry and the health care industry in Canada, the United States and globally.
According to expertscape.com, a professional research database and repository of medical journal/scientific publications which objectively ranks people and institutions by their expertise in more than 29,000 biomedical topics, Dr. McIntyre is the top ranked expert worldwide as it pertains to depression.
Dr. McIntyre has published over 600 articles on the topic of mood disorders, along with an extensive number of books and chapters, and he has delivered thousands of lectures nationally and internationally on the topic of mood disorders.
“We are extremely pleased and fortunate to be able to bring Dr. McIntyre aboard as CEO,” commented Gareth Birdsall director of Champignon. “Dr. McIntyre’s is the world’s leading authority on depression and associated mood disorders, which is further crystalized by his foresight in founding Canada’s first integrated mood disorder treatment and integrated research center in the CRTCE.
Dr. McIntyre’s clear ability to execute and his entrepreneurial nature, along with a demonstrated capacity to lead and delegate in dynamic and growing organizations, represent the skill sets that Champignon needs as it moves towards our North American clinic expansion and maturing novel drug discovery initiatives.”
The Company also announces that Gareth Birdsall has relinquished the role of CEO to Dr. McIntyre and will maintain his directorship of Champignon. The Company wishes to thank Mr. Birdsall for his services throughout his tenure as CEO. Furthermore, the Company announces it is contemplating a name change to better reflect its diverse business lines and operating subsidiaries.
Champignon Announces $10,000,000 Bought Deal Private Placement
CNW Group
May 11, 2020, 1:24 pm
VANCOUVER , May 11, 2020 /CNW/ - Champignon Brands Inc. ("Champignon" or the "Company") (SHRM.CN) (496.F), is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. ("Canaccord Genuity") and Eight Capital ("Eight" and together with Canaccord Genuity, the "Co-Lead Underwriters"), to purchase, on a bought deal private placement basis, 11,765,000 units of the Company (the "Units") at a price of $0.85 per Unit (the "Issue Price") amounting to aggregate gross proceeds of $10,000,250 (the "Offering"). Each Unit shall be comprised of one common share of the Company (a "Common Share") and one half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share at a price of $1.15 per Warrant for a period of 24 months from the closing of the Offering.
The Offering will be conducted by a syndicate of underwriters (collectively, the "Underwriters") led by the Co-Lead Underwriters. The Company has granted the Co-Lead Underwriters an option (the "Underwriters' Option") to purchase up to an additional 5,882,500 Units at the Issue Price. The Underwriters' Option may be exercised in whole or in part upon written notice to the Company at any time up to 48 hours prior to the closing of the Offering.
The Company has agreed to pay the Underwriters a cash commission payable on the closing date of the Offering equal to 7.0% of the aggregate gross proceeds of the Offering (including proceeds from the exercise of the Underwriters' Option) and to issue the Underwriters warrants (the "Broker Warrants"), exercisable to acquire, within 24 months from the closing of the Offering, in the aggregate, that number of Units which is equal to 7.0% of the number of Units sold under the Offering (including Units sold upon exercise of the Underwriters' Option), at an exercise price per Broker Warrant equal to the Issue Price.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States . The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Offering is expected to close on or about June 11, 2020 or such other date as the Company and Canaccord Genuity may agree, and is subject to certain closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange. The Company intends to use the net proceeds of the Offering for the Company's North American clinical expansion program and for general working capital purposes.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Roger McIntyre
Chief Executive Officer
Champignon Expands to U.S., To Acquire California Based Ketamine Centre – Wellness Clinic of Orange County
May 12, 2020
Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF), a human optimization sciences Company with an emphasis on ketamine and psychedelic medicine is pleased to announce that it has executed a term sheet (the “Term Sheet”) with California, U.S. based Wellness Clinic of Orange County Inc. (the “Wellness Clinic”) further advancing the Company’s North American clinical expansion.
The Wellness Clinic owns and operates a state-of-the-art ketamine infusion treatment center located within the Mission Hospital’s Laguna Beach campus. This cutting-edge clinic is an authority in ketamine infusion therapy and is actively involved in research and complementary treatment protocols. Supported by a breadth of peer reviewed studies, as well as clinical trials, intravenous ketamine has emerged as a promising treatment option for many chronic diseases, such as depression, anxiety, post-traumatic stress disorder, fibromyalgia, and certain other pain disorders.
“We are thrilled to begin executing on our North American expansion strategy by acquiring our first U.S. based, revenue generating ketamine centre- Wellness Clinic of Orange County,” said Dr. Roger McIntyre, Chief Executive Officer, Champignon. “This acquisition represents a major milestone as we begin to accelerate our vision of establishing significant scale and a sizable footprint of integrated ketamine centric clinics committed to providing innovative care and therapeutic options to improve the quality of life of patients suffering from chronic disease states that have failed conventional treatments.”
Dr. Michael Bronson of Wellness Clinic of Orange County stated: "This is an exceptional opportunity to both collaborate and scale with Dr. McIntyre and the world-class team at Champignon; with the objective of remaining at the forefront of innovation in this bourgeoning field. We are excited for our patients, both current and future, as we work to provide them with the therapeutic options that they deserve.”
Pursuant to the Term Sheet, the Company is to acquire 100% of the Wellness Clinic and all subsidiary companies of the Wellness Clinic (the “Acquisition”) in exchange for payments over an 18-month period totalling: (a) USD $600,000; (b) 1 million common shares of Champignon (the “Initial Share Issuance”); and, (C) 500,000 common shares of Champignon payable only if the Wellness Clinic collects top-line revenue of at least USD $1,500,000, over the 18-month period, post closing (the “Second Share Issuance”). The Initial Share Issuance shall be paid upon closing of the Acquisition, subject to a 12-month escrow, with 500,000 common shares released 6 months following the closing of the Acquisition and the remaining 500,000 shares released 12-months following the closing of the Acquisition. Each of the Initial Share Issuance and the Second Share Issuance are to be issued at a price per share determined using the average trading price of the common shares in accordance with the Canadian Securities Exchange (CSE) policies and applicable securities law.
The completion of the Acquisition is subject to a number of conditions, including, but not limited to, the execution of a definitive agreement and completion of satisfactory due diligence. There can be no assurance that the Acquisition will be completed as proposed, or at all.
MindMed Announces $10 Million Bought Deal Equity Financing to Fund University Hospital Basel Collaboration https://www.otcmarkets.com/stock/MMEDF/news?id=260991
MindMed Announces $10 Million Bought Deal Equity Financing to Fund University Hospital Basel Collaboration https://www.otcmarkets.com/stock/MMEDF/news?id=260991
The GrowthOp: Investors are jumping into psychedelics after learning hard lessons in cannabis industry.
https://www.thegrowthop.com/cannabis-news/investors-are-jumping-into-psychedelics-after-learning-hard-lessons-in-cannabis-industry
What You Need To Know About MindMed's Bad LSD Trip 'Off-Switch'
Benzinga
By Javier Hasse
May 1, 2020
Psychedelic pharmaceutical company Mind Medicine (MindMed) Inc. (OTC: MMEDF) (NEO:MMED) says it found an off-switch to end a bad trip.
The Toronto-based company announced it has discovered and filed a patent application for a neutralizing agent intended to stop the effects of LSD.
Earlier this month, MindMed made public its multi-year exclusive collaboration with the laboratory of Professor Dr. Matthias Liechti at University Hospital Basel in Switzerland, one of the world’s top psychedelics pharmacology and clinical research groups. Together, they are developing clinical trials to test the effectiveness of using LSD to treat anxiety disorder.
“MindMed's objective is to design better psychedelic medicines and patient experiences through innovative technologies and rigorous science,” MindMed co-CEO and co-founder JR Rahn told Benzinga.
More About The ‘Off-Switch’
MindMed and the Liechti Lab have discovered a way for experimental therapy patients who are undergoing clinical LSD testing to shorten the hallucinogenic effects of the drug during a trip. This discovery could be helpful in advancing clinical research for the drug given that one of the biggest stigmas associated with psychedelics is the potential downside of having a “bad trip.”
If health care administrators and therapists are able to better control the effects of dosing LSD in a clinical setting, thereby improving patient experiences, it’ll likely lead to better outcomes and, potentially, more funding.
"We believe working through a 'bad trip' experience can be beneficial for a patient, in some circumstances there really is a need to stop or shorten a trip experience in a medical setting,” Rahn said. “The LSD Neutralizer may eventually increase adoption by medical professionals and their patients knowing there is the potential to stop the experience if one is uncomfortable.”
Where can you find?
So far MINDMED, CHAMPIGNON holding up.
Mind Med Webinar w/Kevin O’Leary and JR Rahn Highlights:
- Prior to investing, O’Leary’s team extensively look into Mind Med prior to investing. One of Mr. O’Leary’s employees liked the company so much that he got a loan from O’Leary for $15 million to invest. O’Leary then went and invested more because he said “I can’t have one of my employees investing more than me”.
- Absolutely no chance of recreational involvement. O’Leary made that clear so that institutional investors will be able to invest. Their goal is to achieve FDA approval and/or FDA fast-track approval through their clinical trials.
- No chance of liquidating shareholders in order to acquire any companies.
- They have a patent on a drug that neutralizes the effects of LSD.
- They are targeting microdosing LSD towards ADHD ($16 billion dollar a year industry) and anxiety/depression. JR Rahn said he got the idea to further research the applications of LSD when he was in silicon valley and had a lot of friends with ADHD who would microdose to treat and control their symptoms.
- They are targeting the drug 18-MC (derivative of ibogaine) to treat drug addiction (primarily aimed at treating opioid addiction) and alcohol abuse disorder. The application towards the treatment of opioid abuse disorder is where JR Rahn believes they may get Fast Track FDA approval if they see results because there are very few medications right now effective at treating opioid use disorder.
Please add more to this if you remember things. I was unable to listen to the entire webinar.
Top News Stories you guys may have missed. A good Way to catch up on News.
Cannabis Countdown: Top 10 Marijuana and Psychedelic Stock News Stories of the Week
News Is Here
https://www.thecannabisinvestor.ca/former-red-bull-canada-president-joins-champignon-brands-special-advisory-committee/?mc_cid=153345b111&mc_eid=bf9094a3b1
Former Red Bull Canada President Joins Champignon Brands’ Special Advisory Committee
APRIL 16, 2020
Champignon Brands Appoints Mr. Jim Bailey to the Company’s Special Advisory Committee
Mr. Bailey is the Former President of Red Bull Canada
Mr. Bailey Will Lead Champignon’s Marketing, Distribution and Commercialization of the Company’s Novo Formulations-Branded Novel Delivery Systems for the Pharmaceutical, Nutraceutical and Psychedelic Medicine Industries
Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496), a human optimization sciences company focused on applying novel and natural treatment protocols to address a broad range of disorders and deficiencies with an emphasis on psychedelic medicine has further bolstered its pharmaceutical, nutraceutical and CPG marketing/distribution competencies via the appointment of the former President of Red Bull Canada, Mr. Jim Bailey, to its Special Advisory Committee.
Mr. Bailey previously served as the Global Chief Marketing Officer for Merrell Outdoors, overseeing both product and consumer marketing with annual revenues of US$600M. Prior to his tenure at Merrel, Jim served as President of Red Bull Canada, playing an instrumental role in launching the Red Bull brand in Canada and growing the business to $150 million in annual revenue with over 300 employees nationwide.
“I am very excited to be part of a company that is leading the way in finding alternative solutions to traditional pharmaceuticals with science based research and functional products. My background in heavily regulated industries coupled with my experience in the CPG space provides a great compliment to an already talented and experienced advisory board,” commented Jim Bailey.
Mushroom Medicine to be made by CHampignon Brands.
Champignon Brands Is Turning Magic Mushrooms Into Medicine
SeekingAlpha Article here
Summary
Medical professionals are beginning to use psychedelics to treat a host of mental disorders.
Champignon Brands is growing a vertically integrated psychedelic drug company.
Other major competitors are using different drugs to treat different disorders, leaving Champignon more room to operate.
Investment Thesis
The never-ending quest of medical researchers seeking treatments for mental disorders has led them to, of all things, psychedelic drugs. Recent studies have shown these types of drugs have serious potential to treat common ailments like addiction, depression, post-traumatic stress disorder (PTSD), and obsessive-compulsive disorder (OCD).
Companies are starting to take notice of this multi-billion dollar opportunity and are beginning to develop drugs and perform widespread clinical studies, with the goal of bringing doctor-prescribed medications to market. One company that got its start in the functional food industry is making the leap into a full-blown drug developer.
Champignon Brands (OTCPK:SHRMF) (CSE:SHRM) completed its IPO earlier this year. The company's mission is "pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes, such as depression and post-traumatic stress disorder, as well as substance and alcohol use disorders." The company intends to develop novel medications, run them through clinical trials and then receive regulatory approval to have them prescribed to patients in the U.S. and beyond.
Fungal Origins
While the end goal is to develop a novel medication, Champignon Brands got its start selling non-psychedelic, mushroom-infused consumer packaged good (CPG) products. Their first product was their Vitality Superteas. The company claims that the teas, which come in a variety of flavors and formulations, can assist with sleep, stress, and cognitive function.
Champignon is also partnering with a coffee company to develop a cold-brewed coffee product with many of the same infusions as their teas. Once finished, the product will be sold at the coffee company's cafe, as well through Champignon's online platform. Having the product available in a cafe will allow the company to better market the product and spread awareness through word of mouth advertising.
These are just the first of many products that management has in the pipeline. The company strongly believes in the functional food market and for good reason: the global functional food market is estimated at over $160 billion. Management intends to use the proceeds from their CPG division to help fund the R&D necessary to bring their psychedelic medicines to market.
Magic Medicine
To fast track their drug development pipeline, Champignon acquired Tassili Life Sciences Corp. Tassili has been partnering with the University of Miami to conduct research on using psilocybin to treat PTSD and traumatic brain injuries. The partnership allows for Tassili to keep any of the intellectual property developed from the studies. The company has thus far filed four provisional patent applications as a result of the research. The real money in this industry will be derived from patent-protected medications, so Champignon's acquisition of a company led by scientists familiar with developing medical intellectual property is crucial.
In order to save on costs and conduct more efficient research, the company intends to become as vertically integrated as possible. Their first step was acquiring craft mushroom grower Artisan Growers Ltd. The purchase gives Champignon a production facility capable of growing a variety of mushroom types in large quantities. The company intends to use this facility to produce feedstock for both its CPG products and their medicinal formulations. Having the growing facility in-house will give management better control over their product specifications, lowers costs, and gives researchers direct access to the product at all stages of the production process.
Champignon next decided to purchase Novo Formulations Ltd. Novo has developed proprietary drug delivery systems that better allow psychedelic drugs to interact with the human body. Champignon intends to use the systems to expand on their psilocybin drug development efforts. This should allow the company to achieve similar results while using less of the active ingredients in their medications, which will help margins down the road.
Most recently, Champignon acquired AltMed Capital Corp., which develops new drugs and operates a ketamine clinic. AltMed is led by Dr. Roger McIntyre, professor of psychiatry and pharmacology at the University of Toronto. Dr. McIntyre is widely regarded as one of the preeminent psychiatrists in the field of mood disorders. This move by Champignon gives it not only a leading world-renowned researcher but also someone who is actively using a psychedelic drug to treat people with mood disorders. Look for Dr. McIntyre to take a leading role in Champignon once AltMed is fully incorporated.
Competition
MindMed (OTCPK:MMEDF) (NEO:MMED) has been getting much fanfare recently for attracting investments from cannabis pioneer Bruce Linton and celebrity investor Kevin O'Leary. The psychedelic upstart's primary focus is its drug MC-18, a derivative of ibogain. MindMed is, currently, performing clinical studies on using the drug to treat opioid addiction and opioid withdrawal. The company is also performing clinical studies on using microdoses of lysergic acid diethylamid (LSD) to treat ADHD.
Revive Therapeutics (OTCPK:RVVTF) (CSE:RVV) has been exploring possible medical uses for cannabis and recently hopped on the psychedelic bandwagon. While MindMed and Champignon are focusing on mental disorders, Revive is focused on using psiliocybin and cannabidiol (CBD) to treat infectious diseases such as influenza and coronavirus.
While both of these companies are looking to use psychedelics as medicine, they're either using different drugs, treating different conditions or both. Champignon is establishing itself as the largest player in its own niche within the psychedelic medicine industry.
Risks
Federal Regulation: Psilocybin and other psychedelic drugs are still heavily regulated by the DEA, with many of them listed under Schedule 1 of the Controlled Substances Act. This scheduling severely limits the availability of these drugs to be studied for medical benefits and makes it much more difficult for a drug that is found to have medical benefits to be approved and accepted by the medical establishment. Investors should be aware that the psychedelic medicine industry will be hamstrung as long as these drugs are listed under Schedule 1.
Trading Volatility: Champignon Brands is both a micro-cap stock (market cap of between $50 million and $300 million) and a penny stock (stock price under $5 per share). Both of these labels are considered a negative for many investors as these types of companies are inherently more risky than larger companies. These types of companies tend to have a lower trading volume, leading to higher volatility. Potential investors should be prepared for large swings in share price, sometimes with no obvious catalyst.
New Company: Champignon is essentially a start-up. They've only just begun to assemble the pieces they will need to accomplish their goals. At a current valuation around $70 million (and growing, after the most recent acquisitions), Champignon comes at a hefty price tag for a company with little history or financial data to go on. MindMed, the largest company in the space, carries a market cap of over $150 million, thanks to its celebrity investors and a drug closer to the market. Whether either of these valuations is justified is largely based on where one thinks the science is going to lead. As of now, all signs are pointing to psychedelics having serious medicinal potential.
Conclusion
The story of medicinal psychedelics is still in its first chapter, there's still a long way to go until these drugs are being prescribed by doctors to treat specific ailments. The companies that will be successful when the industry matures will be those that have built a strong foundation, backed by proven products.
Champignon Brands is entering the market with a plan to develop life-changing medicines. Their focus on vertical integration and bringing in the best scientists in the field as, well as the establishment of their CPG division, make them an interesting option for less risk-adverse investors seeking to capitalize on the burgeoning psychedelic medicine industry.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Here’s How Psychedelic Medicine Could Help End the Opioid Epidemic Once and For All
-The Opioid Crisis Has Plagued North America for Decades, and According to the U.S. HHS, it Kills an Estimated 130+ People Per Day in the United States Alone
-Thanks to Recent Advancements in Psychedelic Medicine, There’s Renewed Hope and Optimism Surrounding the Deadly Epidemic
-ATAI Life Sciences, DemeRx and MindMed Are Waging War Against Opioid Addiction By Utilizing This One Little-Known Psychedelic Substance
The opioid crisis isn’t making as many headlines these days due to the rise of the COVID-19 pandemic, which has paralyzed much of the global economy and captivated the attention of billions worldwide. While the Coronavirus continues to sweep across the globe, a different type of epidemic continues to ravage America’s communities and families. We’re talking about the Opioid Epidemic.
CLick here to read the article
Champignon Brands to Acquire Health Canada Licensed Psychedelic Clinic Operator AltMed
Read News Here
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Condensed Interim Financial Statements
(Expressed in Canadian Dollars)
For the three month period ended December 31, 2019
Under National Instrument 51-102, Part 4 subsection 4.3 (3), if an auditor has not performed a review of
the condensed interim financial statements, they must be accompanied by a notice indicating that the
unaudited condensed interim financial statements have not been reviewed by an auditor.
The accompanying unaudited interim financial statements of Champignon Brands Inc. have been prepared
by and are the responsibility of management.
These condensed interim financial statements for the three month period ended December 31, 2019 have
not been reviewed or audited by the Company’s independent auditors in accordance with standards
established by the Chartered Professional Accountants of Canada.
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Statement of Financial Position
(Expressed in Canadian Dollars)
The accompanying notes are an integral part of these condensed interim financial statements 3
December 31,
2019
$
September 30,
2019
$
ASSETS
Current assets
Cash 705,385 855,669
GST receivable 12,152 -
Prepaid expenses 3 80,634 153,093
Inventory 4 106,532 33,783
904,703 1,042,545
Non-current assets
Intangible asset 5 114,929 117,929
TOTAL ASSETS 1,019,632 1,160,474
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities 6, 7 60,908 53,263
TOTAL LIABILITIES 60,908 53,263
SHAREHOLDERS’ EQUITY
Share capital 8 1,269,500 1,269,500
Reserve 8 10,434 10,434
Deficit (321,210) (172,723)
TOTAL SHAREHOLDERS’ EQUITY 958,724 1,107,211
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
1,019,632 1,160,474
Nature and continuance of operations (Note 1)
Approved on behalf of the Board:
“Gareth Birdsall” “Matthew Fish”
Gareth Birdsall, Director Matthew Fish, Director
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Statement of Loss and Comprehensive Loss
(Expressed in Canadian Dollars)
The accompanying notes are an integral part of these condensed interim financial statements.
The Company was incorporated on March 26, 2019 and has a September 30 year-end, therefore there are no
comparative period numbers prior to this date.
For the three month period ended,
December 31, 2019
$
Expenses
Advertising and promotion (66,500)
Amortization 5 (3,000)
Consulting fees 7 (37,750)
Design fees (12,940)
Foreign exchange 4,295
Legal fees (22,214)
Office and miscellaneous (3,207)
Net loss and comprehensive loss for the period (148,487)
Loss per share – basic and diluted (0.01)
Weighted average number of common shares outstanding – basic and
diluted 20,521,001
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Statement of Changes in Shareholders’ Equity
(Expressed in Canadian Dollars)
The accompanying notes are an integral part of these condensed interim financial statements.
Share capital
Notes
Number of
shares
#
Amount
$
Reserve
$
Deficit
$
Total
$
Incorporation, March 26, 2019
Incorporation shares 8 1 - - - -
Private placements (net of share issuance costs) 8 17,276,000 1,204,500 - - 1,204,500
Shares issued for services 8 250,000 5,000 - - 5,000
Shares issued for asset acquisition of intangible asset 5, 8 3,000,000 60,000 - - 60,000
Warrants issued 8 - - 10,434 - 10,434
Loss and comprehensive loss for the year - - - (172,723) (172,723)
Balance at September 30, 2019 20,521,001 1,269,500 10,434 (172,723) 1,107,211
Loss and comprehensive loss for the period - - - (148,487) (148,487)
Balance at December 31, 2019 20,521,001 1,269,500 10,434 (321,210) 958,724
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Statement of Cash Flows
(Expressed in Canadian Dollars)
The accompanying notes are an integral part of these condensed interim financial statements
6
For the period ended,
December 31, 2019
$
Operating activities
Net loss for the period (148,487)
Items not affecting operating cash:
Amortization 3,000
Shares issued for services
Changes in non-cash working capital items:
Increase in inventory (77,949)
Increase in accounts receivable (12,152)
Decrease in prepaid expenses 77,659
Increase in accounts payable and accrued liabilities 7,645
Net cash flows used in operating activities (150,284)
Decrease in cash (150,284)
Cash, beginning 855,669
Cash, ending 705,385
Supplemental cash flow disclosure $
Interest paid -
Income taxes paid -
The Company was incorporated on March 26, 2019 and has a September 30 year-end, therefore there are no
comparative period numbers prior to this date.
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Notes to the Condensed Interim Financial Statements
For the period ended December 31, 2019
(Expressed in Canadian Dollars)
7
1. Nature and continuance of operations
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.) (the “Company”) was incorporated on March
26, 2019, under the laws of the province of British Columbia, Canada. The Company is engaged in the business
of formulation and end distribution of a suite of artisanal mushroom infused beverage products, with the
objective of promoting holistic health and wellness through a healthy diet.
On June 7, 2019, the Company
changed its name from Nature Leaf Wellness Corp. to Champignon Brands Inc. The Company’s fiscal yearend is September 30.
The Company’s principal address, records office and registered address are located at Suite 810 – 789 West
Pender Street, Vancouver, BC, V6C 1H2.
These condensed interim financial statements have been prepared on the assumption that the Company will
continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to
realize assets and discharge liabilities in the ordinary course of operations. The Company is in the development
stage and currently has no sources of cash from operations.
Further funds will be required to successfully
develop the Company’s business and there is no certainty that these funds will be available. As at December
31, 2019 the Company had accumulated losses of $321,210 (September 30, 2019 - $172,723). Different bases
of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable
future.
The Company’s continuation as a going concern is dependent upon its ability to raise equity capital or
borrowings sufficient to meet current and future obligations and ultimately achieve profitable operations. These
factors indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability
to continue as a going concern.
Management intends to finance operating costs over the next twelve months
with issuance of common shares, loans from directors and companies controlled by directors and or profits
from its business activities.
2. Significant accounting policies
Basis of presentation and statement of compliance
Statement of Compliance
These condensed interim financial statements have been prepared in accordance with International Financial
Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), and in
accordance with IAS 34 – Interim Financial Reporting. The condensed interim financial statements do not
include all the information required for annual financial statements and should be read in conjunction with the
Company's audited financial statements for the year ended September 30, 2019. These condensed interim
financial statements have been prepared following the same accounting policies as the Company’s audited
financial statements for the year ended September 30, 2019.
The Board of Directors approved these condensed interim financial statements on February 20, 2020.
Basis of Presentation
These condensed interim financial statements have been prepared on the historical cost basis except for certain
financial instruments measured at fair value. All dollar amounts presented are in Canadian dollars unless
otherwise specified.
The functional and presentation currency of the Company is the Canadian dollar.
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Notes to the Condensed Interim Financial Statements
For the period ended December 31, 2019
(Expressed in Canadian Dollars)
8
2. Significant accounting policies (continued)
Significant Accounting Policies
In preparing these condensed interim financial statements, the significant accounting policies and the significant
judgments made by management in applying the Company’s significant accounting policies and key sources
of estimation uncertainty were the same as those that applied to the Company’s audited financial statements for
the year ended September 30, 2019, with exception to the new accounting policies adopted by the Company
discussed below.
The preparation of condensed interim financial statements requires that the Company’s management make
judgments and estimates of effects of uncertain future events on the carrying amounts of the Company’s assets
and liabilities at the end of the reporting period. Actual future outcomes could differ from present estimates and
judgments, potentially having material future effects on the Company’s condensed interim financial statements.
Estimates are reviewed on an ongoing basis and are based on historical experience and other facts and
circumstances. Revisions to estimates and the resulting effects on the carrying amounts of the Company’s assets
and liabilities are accounted for prospectively.
Changes in Accounting Standards
Several amendments to existing accounting standards became effective January 1, 2019 and were first adopted
by the Company during the period ended December 31, 2019:
IFRS 16, Leases: This new standard replaces IAS 17 “Leases” and the related interpretative guidance. IFRS
16 applies a control model to the identification of leases, distinguishing between a lease and a service contract
on the basis of whether the customer controls the asset being leased. For those assets determined to meet the
definition of a lease, IFRS 16 introduces significant changes to the accounting by lessees, introducing a single,
on-balance sheet accounting model that is similar to current finance lease accounting, with limited exceptions
for short-term leases or leases of low value assets. Lessor accounting is not substantially changed. The standard
is effective for annual periods beginning on or after January 1, 2019, with early adoption permitted for entities
that have adopted IFRS 16. During the period ended December 31, 2019, the Company had no leases.
3. Prepaid expenses
Prepaid expenses consists of $45,200 (September 30, 2019 - $45,200) advance for the construction of a pop-up
store, $25,000 (September 30, 2019 - $25,000) of research and development expenses, $Nil (September 30,
2019 - $72,459) for production orders to produce tea, and a prepayment of $10,434 (September 30, 2019 -
$10,434) on consignment and marketing services (Note 8).
4. Inventory
Inventory consists of the following:
December 31,
2019
$
September 30,
2019
$
Raw materials - 13,783
Finished goods 106,532 20,000
106,532 33,783
Raw materials consists of the ingredients used to produce tea. Finished goods consists of Auralite Minerals and
finished tea products.
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Notes to the Condensed Interim Financial Statements
For the period ended December 31, 2019
(Expressed in Canadian Dollars)
9
5. Intangible asset
Website
$
Cost:
As at March 31, 2019 (incorporation) -
Additions 120,000
As at September 30, 2019 and December 31, 2019 120,000
Accumulated amortization:
As at March 31, 2019 (incorporation) -
Additions (2,071)
As at September 30, 2019 (2,071)
Additions (3,000)
As at December 31, 2019 (5,071)
Net carrying amounts:
As at September 30, 2019 117,929
As at December 31, 2019 114,929
On May 31, 2019, the Company entered into an asset purchase agreement with Tip Top Gizmos (“Tip Top”)
to acquire Tip Top’s website (“Website”) and all of the intellectual property related to the Website (“Acquired
Assets”). As consideration, the Company paid $50,000 in cash and issued 3,000,000 common shares with a fair
value of $60,000 (Note 8). The Company incurred an additional $10,000 for enhancing the features of the
Website for the Company’s operations. The Company uses the Website (https://vitalitysuperteas.com/) to
advertise and sell its products.
6. Accounts payables and accrued liabilities
December
31, 2019
$
September 30,
2019
$
Accounts payable (Note 7) 45,908 31,500
Accrued liabilities (Note 7) 15,000 21,763
60,908 53,263
7. Related party transactions and balances
The Company has identified its directors and certain senior officers as its key management personnel.
Key management compensation consist of the following for the period from March 26, 2019 (incorporation) to
September 30, 2019 and for the three month period ended December 31, 2019:
December 31,
2019
$
Period from March 26,
2019 (incorporation) to
September 30, 2019
$
Consulting fees charged by the CEO 15,000 31,500
Consulting fees charged by the CFO 1,500 -
16,500 31,500
Included in accounts payable and accrued liabilities at September 30, 2019 is $46,500 owed to the CEO of the
Company for consulting fees (Note 6). This amount is due on demand, unsecured, and without interest.
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Notes to the Condensed Interim Financial Statements
For the period ended December 31, 2019
(Expressed in Canadian Dollars)
10
8. Share capital
Authorized share capital
Unlimited number of common shares without par value.
Issued share capital
During the three month period ended December 31, 2019, the Company did not issue any shares.
The Company was incorporated on March 26, 2019, therefore, the Company did not issue any shares in the
comparative period.
Escrow shares
As at December 31, 2019, 3,000,001 shares and 3,000,000 share purchase warrants are held in escrow and will
be released based on the following:
On the date on which the common shares are first listed for trading on the exchange, (“Listing Date”), 300,000
common shares and 300,000 share purchase warrants will be released from escrow. The remaining 2,700,001
common shares and 2,700,000 share purchase warrants will be released pursuant to the following schedule:
6 months after the Listing Date 1/6 of the remaining escrow securities
12 months after the Listing Date 1/5 of the remaining escrow securities
18 months after the Listing Date 1/4 of the remaining escrow securities
24 months after the Listing Date 1/3 of the remaining escrow securities
30 months after the Listing Date 1/2 of the remaining escrow securities
36 months after the Listing Date the remaining escrow securities
Warrants
The continuity of the Company's share purchase warrants pursuant is as follows:
Number of share
purchase
warrants
#
Weighted average
exercise price
$
Outstanding, incorporation - -
Granted 5,900,000 0.08
Outstanding, September 30, 2019 and December 31, 2019 5,900,000 0.08
As at December 31, 2019 and September 30, 2019, the Company had share purchase warrants exercisable to
acquire common shares of the Company as follows:
Expiry date
Exercise price
$
Number of warrants
#
August 22, 2022 0.15 2,500,000
September 11, 2021 0.15 400,000
May 9, 2024 0.005 3,000,000
5,900,000
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Notes to the Condensed Interim Financial Statements
For the period ended December 31, 2019
(Expressed in Canadian Dollars)
11
8. Share capital (Continued)
Warrants (Continued)
Consignment and Marketing Agreement
The Company entered into an agreement (the “Consignment Agreement”) dated September 11, 2019, with Drip
Coffee Social Ltd. ( the “Consignee”) whereas the Company (“Consignor”) is willing to deliver and sell
consigned goods and the consignee is willing to assist in marketing consigned goods at pop-up events.
Pursuant to the Consignment Agreement, the Company issued 400,000 share purchase warrants (“consideration
warrants”) in consideration of the marketing services. The consideration warrants are exercisable at a price of
$0.15 per share for a period of 2 years from the date of issue. The consideration warrants shall vest on
completion of the following milestones:
1. 100,000 shall vest following Consignee providing the services for a period of at least one month;
2. 75,000 shall vest upon gross revenues from the sale of the goods exceeding $25,000;
3. 75,000 shall vest upon gross revenues from the sale of the goods exceeding $50,000; and
4. 150,000 shall vest upon gross revenues from the sale of the good exceeding $100,000.
The term of the agreement is 6 months and shall automatically renew for successive 6 month periods.
As at September 30, 2019 and December 31, 2019, the fair value of the warrants was determined to be $10,434
using the Black-Scholes Option Pricing Model, assuming a 0% dividend yield, 100% volatility, a risk free
interest rate of 1.59%, and a term of 2 years. The fair value was also calculated based on the estimated
probability of completing each milestone. As at September 30, 2019 and December 31, 2019, the Consignee
has not provided any services, therefore the fair value assigned to the warrants was recognized as a prepaid
expense (Note 3).
Reserve
The warrant reserve records the fair value of the common shares purchase warrants recorded using the BlackScholes Option Pricing Model.
9. Financial risk and capital management
The Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of
Directors approves and monitors the risk management processes, inclusive of documented investment policies,
counterparty limits, and controlling and reporting structures. The type of risk exposure and the way in which
such exposure is managed is provided as follows:
Credit risk
Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the
other party to incur a financial loss. The Company’s primary exposure to credit risk is on its cash held in bank
accounts. The majority of cash is deposited in bank accounts held with a major bank in Canada. As most of
the Company’s cash is held by one bank there is a concentration of credit risk. This risk is managed by using
major banks that are high credit quality financial institutions as determined by rating agencies. Credit risk
related to cash is assessed as low.
Liquidity risk
Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The
Company has a planning and budgeting process in place to help determine the funds required to support the
Company’s normal operating requirements on an ongoing basis. The Company ensures that there are sufficient
funds to meet its short-term business requirements, taking into account its anticipated cash flows from
operations and its holdings of cash. As of December 31, 2019, the Company had working capital of $843,795
(September 30, 2019 -$989,282) to cover short term obligations.
Champignon Brands Inc. (Formerly, Nature Leaf Wellness Corp.)
Notes to the Condensed Interim Financial Statements
For the period ended December 31, 2019
(Expressed in Canadian Dollars)
12
10. Financial risk and capital management (Continued)
Liquidity risk (Continued)
Historically, the Company's sole source of funding has been loans from related parties and private placements.
The Company’s access to financing is always uncertain. There can be no assurance of continued access to
significant equity funding. Liquidity risk is assessed as moderate.
Foreign exchange risk
Foreign currency risk is the risk that the fair values of future cash flows of a financial instrument will fluctuate
because they are denominated in currencies that differ from the respective functional currency. The Company
is not exposed to foreign exchange risk.
Interest rate risk
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. As at December 31, 2019 and September 30, 2019, the Company did not
have any financial instruments subject to interest rate risk.
Capital management
The Company's policy is to maintain a strong capital base so as to maintain investor and creditor confidence
and to sustain future development of the business. The capital structure of the Company consists of equity and
cash. There were no changes in the Company's approach to capital management during the period. The
Company is not subject to any externally imposed capital requirements.
Fair value
The fair value of the Company’s financial assets and liabilities approximates the carrying amount. Financial
instruments measured at fair value are classified into one of three levels in the fair value hierarchy according
to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy
are:
• Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or
indirectly; and
• Level 3 – Inputs that are not based on observable market data.
The following is an analysis of the Company’s financial assets measured at fair value using level inputs as at
December 31, 2019 and September 30, 2019:
As at December 31, 2019
Level 1
$
Level 2
$
Level 3
$
Cash 705,385 - -
As at September 30, 2019
Level 1
$
Level 2
$
Level 3
$
Cash 855,669 - -
Accounts payable approximates its fair value due to its short-term maturity.
Thanks for the chart!
I'm looking for the RMANF stock fuse getting lit!
They will have a nice little war chest. I hope they spend it wisely.
RMANF: CHECK OUT WHAT I FOUND, Pay attention to the bold: "On August 15, 2019, the Company acquired 1,500,000 units (“Champignon Unit”) of Champignon Brands Inc. (“Champignon”) for $150,000 which represented approximately 5.6% of the issued and outstanding common shares of Champignon. Each Champignon Unit consists of one common share of Champignon and one-half share purchase warrant. One full warrant is exercisable at $0.15 per share until August 15, 2022.... So they also have 750,000 warrants exercisable at $0.15 until August 15,2022 as well as the 1,000,000 shares
Bruce Linton Talks Psychedelics Investments, Microdosing And LSD: 'The Therapeutic Potential Of Psychedelics Is Greater Than Cannabinoids'
Natan Ponieman
Benzinga Staff Writer
December 19, 2019
Co-founder and former CEO Bruce Linton invested in a neuropharmaceutical company, Mind Medicine Inc.
MindMed is a psychedelic research company that’s developing non-hallucinogenic medicine from psychedelic sources. The company has also welcomed Linton to its board of directors.
The 53-year-old entrepreneur told Benzinga he plans to spend 2020 searching for new business ideas and will start a new business in 2021.
From Cannabis To Psychedelics
Linton has long found the psychedelics sector to be compelling, Linton said.
“Prohibition or poor regulatory frameworks globally don't mean that the underlying regulated substances are in fact terrible. The therapeutic potential of psychedelics is greater than cannabinoids, for sure.”
Supporting a company developing psychedelic substances for medicinal purposes is the best way to rediscover the therapeutic potential of certain plants and mushrooms that have long been banned by the FDA, he said.
Exercise is to build a large platform company that welcomes many, many research projects ... and turns them into finished outcomes that create therapeutic benefit," Linton said in reference to his involvement with Mind Medicine.
Once the therapeutic properties of psychedelics in treating conditions like ADHD, opioid addiction and severe depression are acknowledged, their histories of prohibition will be irrelevant, the cannabis exec said.
In that sense, the process for legalizing these substances is similar to cannabis, he said: a change in public perception is the main tool in fighting prohibition.
"At the end of the day, we're having the same conversation, with the same cohort."
Mind Medicine And The 18-MC Molecule
Mind Medicine is researching the psychiatric potential of LSD and 18-MC, a synthesized version of ibogaine that is showing promising results in the treatment of opioid addiction.
The company recently raised $6.2 million to conduct Phase 2 clinical trials of 18-MC.
Kevin O’Leary, co-host of ABC’s "Shark Tank," is among the company’s investors.
Mind Medicine co-founder and director JR Rahn, who has a tech background, decided to focus his entrepreneurial efforts on psychedelics after seeing many of his Silicon Valley colleagues microdosing LSD and other psychedelic compounds to increase focus and performance.
After researching the environment, Rahn said he decided to focus on the 18-MC molecule because of its promise in treating opioid addiction.
In 2013, the National Institute on Drug Abuse awarded a $6.7-million research grant to a pharmaceutical research company, Savant, to subsidize preclinical development of 18-MC for the treatment of obesity and substance use disorders.
Mind Medicine sprouted from Savant, Rahn said.
“I co-founded the company with the Savant CEO. Savant sold the 18-MC program to MindMed in a share deal. Savant’s entire team has joined MindMed and is 100% focused on MindMed now. We used that money to do all this preclinical work and conduct a Phase 1 trial in humans to demonstrate that it was safe.”
Rahn said his company aims to go public on Canada’s NEO exchange in the first quarter of 2020, although the details are definitive.
O’Leary took part in MindMed’s recent $6.2 million investment round bringing immediate legitimacy to the neuro-pharmaceutical company that’s aiming to improve health and alleviate suffering with controlled doses of psychedelics.
Psychedelics Listing Makes Debut on the NEO
Bryan Mc Govern -
March 3rd, 2020
Mind Medicine made its official public debut on the NEO Exchange, becoming the first psychedelics medicine firm on the up and coming exchange.
On Tuesday (March 3), the first psychedelics medicine company to trade publicly on the NEO Exchange made its debut to the market.
The team of Mind Medicine (NEO:MMED) opened the market at the NEO offices as part of the public launch for the company. Company co-founder, co-CEO and director JR Rahn told the Investing News Network (INN) this listing represented a big accomplishment for the entire psychedelics space.
However, Rahn made the point of classifying his firm strictly as psychedelics medicine, given that he will never move onto the recreational space. That decision comes as a promise to one of the biggest advocates for the company, Kevin O’Leary.
“I had to make him the promise that we would never touch recreational psychedelics,” said Rahn. “We don’t see a future in recreational psychedelics. The only future that we see is psychedelics medicines being passed through the FDA.”
Rahn told INN having O’Leary’s vote of confidence in the company was very important for Mind Med, since this gave the firm the chance to count with an investor(???) “who institutions see as someone that they would take advice from.”
At the company’s public debut, O’Leary told the group gathered he actually at first said no to the investment potential with Mind Med at first, given that he has no interest in supporting businesses dependent on scheduled drugs.
“I said ‘Guys I can’t participate, this is going to go down the same road as cannabis,'” O’Leary, a critical voice of the marijuana investment industry, told the room of attendants.
The notorious investor from popular television shows Dragon’s Den and Shark Tank said he plans to strongly advocate for the company with institutional investors, who he says are seriously interested in the space.
In addition to O’Leary’s backing as an investor of the company, Mind Med also counts with the support of Bruce Linton, the co-founder and ex-CEO of Canopy Growth (NYSE:CGC,TSX:WEED). Linton has spread around his wealth given that his investments have ranged into cannabis — including CBD — and now psychedelics as well.
According to Rahn, the psychedelics arena will see a lot of excitement and investor interest, but he expects to see a more concentrated number of companies compared to the boom of cannabis listings seen across Canadian exchanges.
The company’s pipeline is currently in the development cycle for its 18-MC drug candidate, which Rahn said can aid in the battle against opioid addiction. The drug is set to embark on a Phase 2 clinical trial in accordance with the US Food and Drug Administration (FDA).
Rahn said the work on 18-MC goes back over nine years, which he expects will reassure potential investors and put them ahead of other opportunities in the psychedelics investment market.
Besides this critical trial development for the firm, Rahn confirmed Mind Med is now actively looking to acquire new projects on board in order to expand its pipeline.
When asked why the company elected to reach the public markets through the NEO Exchange, Rahn told INN they view the exchange as the most efficient one in Canada after meeting the competition. The executive went as far as saying he thinks the up and coming exchange will become bigger than the TMX Group-run (TSX:X) listing houses.
The new company closed its first trading day with a price per share of C$0.40, representing a 22.7 percent increase for the day.
Roadman Investment Corp Financial Statement from 3/2/2020:
https://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00026391&issuerType=03&projectNo=03024919&docId=4676397
COPY AND PASTE THIS LINK AND THEN COMPLETE THE VERIFICATION CODE AT THE BOTTOM.
Yea I bet they are kicking themselves now for that sell, but owning 1 million shares is not bad.
but sold 500,000 on 2/25/2020
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