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Psyence Group Inc Completes Reverse Takeover Transaction and Completes Non-brokered Financing

Psyence Group Inc. (“Psyence“), formerly Cardinal Capital Partners Inc., is pleased to announce the successful completion of the previously announced reverse takeover transaction (“RTO“). The Company also is pleased to announce that, in connection with the RTO, MindHealth Biomed Corp. completed its current non-brokered private placement in the amount of $2,179,632.00. Combined with its previous […]

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Ryan Allway

January 21st, 2021

App, Psychedelics


Psyence Group Inc. (“Psyence“), formerly Cardinal Capital Partners Inc., is pleased to announce the successful completion of the previously announced reverse takeover transaction (“RTO“).

The Company also is pleased to announce that, in connection with the RTO, MindHealth Biomed Corp. completed its current non-brokered private placement in the amount of $2,179,632.00. Combined with its previous private placement of $7,123,249.25, a total of CAD$9,302,881.25 has been raised to date. All shares issued pursuant to these private placements have been exchanged for shares of the Company, as described below.

Psyence’s common shares have been conditionally approved for listing on the CSE and the ticker symbol “PSYG” has been reserved with the CSE.

Jody Aufrichtig, Chief Executive Officer and Director of Psyence, commented:

We are delighted to have concluded the financing and reverse take over transaction which formally introduces the Psyence Group to the public market. I believe that our management team, who have extensive international experience in the business of medicine and science, will help us achieve our goal of developing natural psilocybin medicines and therapies for the treatment of mental health disorders and oncology palliative care.

The RTO was completed by way of a three-cornered amalgamation among the Company, MindHealth Biomed Corp (“MindHealth“), and a wholly-owned subsidiary of the Company (“SubCo“) incorporated for the purpose of completing the RTO. The amalgamation resulted in MindHealth combining its corporate existence with SubCo, and becoming Pysence Biomed Corp, a wholly-owned subsidiary of the Company. Pursuant to the RTO, all of the outstanding shares, options and warrants of MindHealth were exchanged for shares, options and warrants of Psyence. The Company intends to be a global platform for innovation, leading the way in naturally derived psychedelic therapies and the development and commercialization of related technologies and products.

In connection with the RTO the Company changed its name to “Psyence Group Inc“, the newly amalgamated wholly-owned subsidiary was named “Pysence Biomed Corp”, and the Company’s common shares (the “Shares“) were consolidated on the basis of one (1) post-consolidation Share for every 19.24 pre-consolidation Shares held, resulting in 1,666,662 Shares being outstanding immediately prior to giving effect to the RTO. As part of the RTO, each holder of common shares in MindHealth was issued 1.0649 Shares, on a post-consolidation basis, for each MindHealth common share held immediately prior to the RTO. Immediately following the RTO, the Company’s issued and outstanding share capital consists of 85,373,209 Shares outstanding and 101,793,473 Shares outstanding on a fully diluted basis.

In connection with the RTO, the management and advisors of the Company are comprised of the following: Jody Aufrichtig (Co-founder, Group President and Chief Executive Officer); Mike Dacks (Chief Operating Officer, Psyence Therapeutics); Dr. Dingle Spence, MD (Chief Medical Officer, Psyence Jamaica); Xan Morgan (European Director and Advisory Board Member); Dr. Amza Ali, MD (Group Medical Advisor); Deika Morrison, MBA (Manager, Psyence Jamaica); Dr. Neil Maresky, MD (Scientific Advisory Board); Bayline Capital Partners (Capital Markets Advisor); Tony Budden (Chief Strategy Officer); Mary-Elizabeth Gifford (EVP, Public Affairs and Corporate Social Responsibility); Warwick Corden-Lloyd (Chief Financial Officer), and Taryn Vos (General Counsel). The Board of Directors of the Company is comprised of Jody Aufrichtig, Gavin Basserabie, Marvin Singer, Dr Amza Ali, and Ryan Roebuck.

No stock exchange nor IIROC accepts responsibility for the adequacy or accuracy of this release.

About Psyence Group:

The Psyence Group intends to set the global standard for natural psychedelics. We are science-led by global experts in neurology, neuroscience and drug development. Psyence has built and operates one of the first federally licensed commercial psilocybin cultivation and production facilities. Psyence will be pioneering the use of natural psilocybin for the long-term treatment of psychological trauma and its mental health consequences. Psyence Group will have a global footprint operating across multiple legal jurisdictions, through the advanced provision of psychedelic therapies and experiences, as well as market leading functional mushroom brands and product portfolio.

Contact Information
Lisa-Marie Iannitelli, Investor Relations
Email: [email protected]
Media Inquiries: [email protected]
General Information: [email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Source: https://www.cannabisfn.com/psyence-group-inc-completes-reverse-takeover-transaction-and-completes-non-brokered-financing/

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Legislative review: Senate committee passes bill that could reduce regulatory standards for farmers

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State of the State address goes virtual

People hold American flags Monday, Jan. 11, 2021, outside the Capitol building in Boise. Governor Brad Little gave his State of the State address later that afternoon virtually.

BOISE — The Senate Agricultural Affairs Committee passed a bill this week that could lead to less stringent regulations for farmers and ranchers in the state.

House Bill 167 would require the Idaho State Department of Agriculture to consider the economic implications of rules and regulations the department imposes.

“Where not prohibited by federal or state law, the requirements imposed on agricultural operations shall be economically feasible, based on data, studies, and other information,” the bill states.

The Associated Press reports the legislation comes after agriculture groups in the state tried, and failed, to get the department to reduce the standards regulating the amount of cow manure that can be placed on fields as fertilizer. Cow manure contains phosphorous, which can pollute waterways through runoff or seeping into the ground and rising to the surface in springs.

According to the Associated Press, Bob Naerebout of the Idaho Dairymen’s Association — one of the groups supporting the bill — told the committee that the industry wants to follow the state’s regulations, but ones that aren’t economically sustainable shouldn’t be in place.

The bill now goes to the full Senate for a vote. It passed through the House in February with a 57-10 vote.

Legislative review: House committee postpones decision on hemp bill

Legalizing hemp

A few days after delaying a vote on a bill to legalize industrial hemp in Idaho, the House Agricultural Affairs Committee passed the legislation on Tuesday.

Idaho is the only state in the country that hasn’t legalized industrial hemp, which is a variety of cannabis with a THC concentration of less than 0.3%. THC is the psychoactive compound present in marijuana.

In December 2018, Congress passed legislation that removed hemp’s status as an illegal substance. And in January, the United States Department of Agriculture released its final rule governing industrial hemp production in the country, Braden Jensen, a representative with the Idaho Farm Bureau Federation, told the committee on Feb. 24.

Despite this federal action, hemp remains listed on Idaho’s Schedule I controlled substance list, and House Bill 126 wouldn’t remove hemp from this list altogether. Instead, it would only legalize hemp for farming purposes.

During the first committee meeting on this legislation, multiple lawmakers said they would rather see a bill move forward that removes hemp from this Schedule I list so that Idahoans could legally access hemp-based products containing THC concentration levels below 0.3%.

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“I know it does need to be removed, but based on the political climate and our administration here in the Capitol, I don’t think it would ever go anywhere,” Rep. Dorothy Moon, R-Stanley, said during the committee’s Feb. 24 meeting.

After passing through the committee, the bill moves to the full House for a vote.

Legislative review: Houses passes bill taking away local control of renaming streets, removing monuments

Sex education opt in requirement

Parents would have to opt in before their kids could receive some sex education lessons in school under a bill the House passed on Friday.

The legislation, if enacted, would change existing state law that allows parents the option to prevent their children from receiving sex education lessons in school.

Under this law, parents would have to complete a written form two weeks prior to the sex education lesson. These are lessons that cover the topics of “sex, gender identity, sexual orientation, eroticism, sexual pleasure, or sexual intimacy.”

The House passed the legislation with a 56-12 vote.

Legislative review: Senate passes constitutional amendment prohibiting marijuana legalization

Defunding abortion providers

The House passed legislation on Tuesday that aims to prevent public funding from reaching abortion service providers of any kind.

House Bill 220 would prevent all levels of government — including cities, counties, school districts and public health districts — from contracting or participating in commercial transactions with abortion providers. The bill also prohibits public employees from assisting someone in receiving an abortion or counseling them about their abortion options.

The Associated Press reports that opponents to the legislation say it could prevent some women from accessing cancer screenings, birth control and other services offered by providers such as Planned Parenthood. Other lawmakers opposed to the bill because it didn’t ban abortion altogether.

After passing the House with a 55-14 vote, the legislation heads to the Senate.

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Heartland

Legislative review: Senate committee passes bill that could reduce regulatory standards for farmers

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Legalizing hemp. A few days after delaying a vote on a bill to legalize industrial hemp in Idaho, the House Agricultural Affairs Committee … Checkout PrimeXBT
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Steve Dale's Pet World 3/7/2021 | CBD and pets, EveryCat Health Foundation, and more

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Steve Dale’s Pet World 3/7/2021 | CBD and pets, EveryCat Health Foundation, and more | WGN Radio 720 – Chicago’s Very Own




























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Source: https://www.google.com/url?rct=j&sa=t&url=https://wgnradio.com/steve-dales-pet-world/steve-dales-pet-world-3-7-2021-cbd-and-pets-everycat-health-foundation-and-more/&ct=ga&cd=CAIyGjQ2MzM1ZTBkNWQyZmIyYzc6Y29tOmVuOlVT&usg=AFQjCNFrFnZSVSjKLlcsHvRDtaGCqab15g

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