Mycotopia Therapies Inc (TPIA)

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$TPIA Mycotopia Therapies Issues CEO Letter to Stockholders, Reports on Significant Progress and Outlook for 2021

https://www.globenewswire.com/news-release/2021/11/04/2327537/0/en/Mycotopia-Therapies-Issues-CEO-Letter-to-Stockholders-Reports-on-Significant-Progress-and-Outlook-for-2021.html

MIAMI, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Mycotopia Therapies Inc., (OTC Pink: TPIA) (the “Company”), announced today that Ben Kaplan, President, Chief Executive Officer and Chairman, has issued a letter to Mycotopia Therapies' stockholders. The full text is as follows:

To My Fellow Stockholders,

Over the course of 2021, Mycotopia Therapies has made significant progress in advancing our strategic plan and hit several key milestones in our journey. From a corporate standpoint, we are a fully reporting company with the SEC and have completed a name and symbol change to better reflect our company. We have also secured DTC eligibility by The Depository Trust Company ("DTC") for electronic settlement and transfer of our common shares in the United States, in an effort to enhance shareholder liquidity.

With these basic changes to the public company side of Mycotopia Therapies, we are now moving forward as a biopharma company focused on the discovery and early development of novel drug candidates, structurally related to the classic psychedelics but with vastly improved pharmaceutical characteristics and commercial potential.

Mycotopia Therapies recently entered into a supply agreement with Havn Life Sciences (CSE: HAVN) (OTC Pink: HAVLF). The terms of the agreement call for Havn Life Sciences to supply Mycotopia Therapies with naturally-derived psilocybin. Under the terms of the agreement, Mycotopia Therapies is classified as a specialty pharmaceutical company focused on the research, development, and commercialization of novel therapeutics for unmet needs. The benefit of this Psilocybin Supply Agreement is that it enables Mycotopia Therapies to get to the distribution and revenue generation phase of our business plan much faster.

Mycotopia Therapies has signed an LOI with a major manufacturer encompassing the IP for a water-soluble tablet for all psychedelics. This will give our Company the ability to develop robust formulations by eliminating uncontrolled stability variables, while focusing solely on therapeutic performance and clinical outcome.

In addition, Mycotopia Therapies entered into a separate LOI to license IP from a public company focused on mushroom and psychedelic opportunities. This licensing agreement will provide us with a process that is similar to those used by Compass, MindMed, and Atai, which allow any psychedelic and delivery into the human body.

Mycotopia Therapies is currently working with one of the largest cannabis labs in the Netherlands to develop psychedelics. In our partnership we intend to jointly apply to the to the government to license certain molecules to be used in psychedelics. Our counterpart in the Netherlands collaborates with scientists, universities, pharmacies and innovative companies to garner a complete and unrivalled understanding of psychedelics. An innovative and vertically integrated phyto-pharmaceutical company with 25-years’ experience the company collaborates with leading scientists, pharmacists and doctors. Mycotopia Therapies will benefit from many years of activities in the fields of research, production and processing of both cannabinoids and psychedelics. We believe their years of knowledge and experience will result in high quality, safe and reliable products.

Our future plans call for opening psylocibin and ketamine clinics in Jamaica. The clinics will be under the direction of a licensed clinical psychiatrist. Mental health is the national health crisis everyone should be concerned about, since rates of anxiety, depression and PTSD keep climbing. Mycotopia Therapies' psylocibin and ketamine clinic will be designed to make the most peaceful and serene setting possible to give patients an ideal situation for psychedelic therapies. The primary focus of each clinic will be to help patients heal and reclaim their life under the direction of a licensed clinical psychiatrist.

Psychedelics are currently being used during therapy to better understand the pathway to mental wellness. During psychedelic enhanced psychotherapy many patients find that situations from their past are uncovered. To be able to fully benefit from what surfaces, a structured approach is needed. With the assistance of a licensed clinical psychiatrist, these psychedelics experiences can help patients understand the thoughts and feelings they uncover. Jamaica's peaceful and serene setting and its relaxed life style make it a perfect place for a psychedelic enhanced psychotherapy.

I believe psychedelic-based medicine has the potential to revolutionize the way we treat mental health issues. Mycotopia Therapies is committed to creating psychedelic-derived medicines that will better the lives of millions. We intend to recruit a world-class Board of Directors and Medical Advisory Board that has the expertise and passion necessary to not only achieve that objective, but to help us become a leader in the field.

I would like to thank you for your continued support along this journey and look forward to sharing more good news with you soon.