Investor Alert

New York Markets Open in:

press release

June 2, 2020, 9:00 a.m. EDT

Psychedelics Begin to Command Greater Stature in the Medical Field

FinancialBuzz.com News Commentary

NEW YORK, June 2, 2020 /PRNewswire/ -- Psychedelic products for medical purposes have been getting more attention in recent years. Last year, the U.S. Food and Drug Administration (FDA) approved  Johnson & Johnson's SPRAVATO™ (esketamine) CIII nasal spray for use in conjunction with an oral antidepressant in adults with treatment-resistant depression (TRD). This FDA approval represents the first new drug for depression in decades. It was also a sign for investors; according to CNBC , Brad Loncar, a biotech investor with Loncar Investments, who specializes in cancer and rare disease, explained that, "A decision (like that) by FDA is the ultimate signal for investors… It shows that there's a regulatory path forward for this class of drugs, which typically causes a flood of investment in the area." In fact, the first steps towards legalization of such products have already started, as Denver residents voted to decriminalize psilocybin, the psychoactive substance found in mushrooms. Newleaf Brands Inc. , Curaleaf Holdings, Inc.  /zigman2/quotes/205334348/delayed CURLF -1.12% /zigman2/quotes/203485866/delayed CA:CURA -1.27% , Aurora Cannabis Inc.  /zigman2/quotes/210559470/composite ACB +3.88% , Aphria Inc.  /zigman2/quotes/207425803/composite APHA +3.10% /zigman2/quotes/205566616/delayed CA:APHA +2.50% , 22nd Century Group, Inc.  /zigman2/quotes/207391257/composite XXII -3.20%

The process of legalization for psychedelics started to gather steam very recently, but it already resembles the process the cannabis industry went through. Within the cannabis industry, it is the medical segment that held the leading revenue share of 71.0% in 2019, owing to the growing adoption of cannabis as a pharmaceutical product for treating severe medical conditions, such as cancer, arthritis, and Parkinson's disease and Alzheimer's disease among other neurological conditions. Moreover, the increasing need for pain management therapies along with a growing burden of chronic pain among elders is expected to boost the product demand. As a result, the global marijuana market is expected to grow from USD 42.20 Billion in 2017 to USD 466.81 Billion by 2025 while registering a CAGR of 35.3%, according to data compiled by Verified Market Intelligence.

Newleaf Brands Inc.   announced breaking news yesterday that, "it has changed its name from NewLeaf Brands Inc. to Mydecine Innovations Group Inc. and its ticker symbol from 'NLB' to 'MYCO'. Subject to approval of the Canadian Securities Exchange (the "CSE"), the Company expects the name and symbol change to take effect on June 2, 2020 when its common shares will begin trading on the CSE under the new name 'Mydecine Innovations Group Inc.' and new ticker symbol 'MYCO'.

Pursuant to the Company's recent acquisition of Mydecine Group, the Company's fundamental business continues to be the development of innovative products in the Naturally Sourced Therapies (NST) space, comprised of the hemp, cannabis, and psilocybin markets. Accordingly, the company believes that the name and ticker symbol change reflects an initiative to align the Company's brand with this new strategic focus. The name change was approved by the board of directors on May 26, 2020.

No action is required by existing shareholders with respect to the name and ticker symbol change.  Certificates representing common shares of NewLeaf Brand Inc. will not need to be exchanged as a result of the name change."

For our latest "Buzz on the Street" Show featuring Newleaf Brands Inc. recent corporate news, please head over to:  https://www.youtube.com/watch?v=IZf5nWh1S0I

Curaleaf Holdings, Inc.  (otcqx:CURLF) /zigman2/quotes/203485866/delayed CA:CURA -1.27% announced earlier this year that it had completed its acquisition of three Arrow Alternative Care ("AAC" and "Arrow") dispensaries in Connecticut. Strategically placed in key metro areas, AAC has established itself as a market leader in Connecticut, operating three out of the 18 total dispensaries in the state. AAC's first store opened in Hartford in 2016, the second in Milford in 2017 and the Stamford store opened to customers in January 2020. "The acquisition of AAC further strengthens our market presence in Connecticut, while reaffirming our position as a leading cannabis operator in the United States," said Joe Lusardi, CEO of Curaleaf. "As with most Curaleaf dispensaries, Arrow will operate as an essential service business allowing Curaleaf to continue to provide patients with the products they rely on during these challenging times. And like all our dispensaries, Arrow has implemented the additional COVID-19 measures to protect employees and patients while remaining open. We look forward to providing our products directly to Connecticut patients and to building a long-lasting relationship with them."

Aurora Cannabis Inc.   /zigman2/quotes/210559470/composite ACB +3.88% announced on February 3rd, 2020 its Aurora River production facility, located in Bradford, Ontario, has received European Union Good Manufacturing Practice certification. EU GMP certification is granted to companies whose production facilities demonstrate a high degree of quality and consistency in their manufacturing procedures and is a requirement for the export of medical cannabis products into most European markets.  "Aurora is leading the development of medical markets across Europe and around the world," said Terry Booth, CEO of Aurora. "The EU GMP certification of our River facility further validates our strategy focused on purpose-built facilities, designed and constructed exclusively for the production of high-quality, pharmaceutical grade cannabis. I congratulate our team on successfully working with regulators and licensing bodies to ensure Aurora's facilities and products are in accordance with local and international standards that will allow for greater access to the highest quality medical cannabis products to patients who need them."

Aphria Inc.   /zigman2/quotes/207425803/composite APHA +3.10% /zigman2/quotes/205566616/delayed CA:APHA +2.50% announced last year that it had received a cultivation licence from Health Canada for Aphria Diamond, the Company's second Leamington, Ontario cannabis greenhouse facility, bringing an additional 1,300,000 sq. ft. of production space with an annual growing capacity of 140,000 kg. Combined with the Company's Aphria One facility and its subsidiary Broken Coast Cannabis, the Company now has more than 2,400,000 sq. ft. of cultivation space capable of reaching a total annualized production capacity of 255,000kg.  "We are extremely pleased to receive the licence for our long-awaited Aphria Diamond facility, which more than doubles our Canadian production capacity," said Irwin D. Simon. "Reaching industry-leading production levels coinciding with the expansion into new categories and new opportunities for cannabis in Canada and around the world is a transformative moment for Aphria Inc."

22nd Century Group, Inc.   /zigman2/quotes/207391257/composite XXII -3.20% announced last year, the initial closing of an investment in Panacea Life Sciences, Inc. (Panacea), a rapidly-growing, vertically-integrated, consumer-facing company operating exclusively in the legal, hemp-derived, CBD product space. 22nd Century's investments in Panacea over the next twelve to eighteen months are expected to total USD 24 Million, in a combination of cash and 22nd Century stock in exchange for Panacea-issued debt and preferred equity. 22nd Century has also received a warrant to purchase preferred stock of Panacea, which upon full exercise will provide 22nd Century with a controlling equity position in Panacea. "After a disciplined and thorough review of the opportunities available to 22nd Century to maximize shareholder value creation, we are pleased to announce the Company's first investment in the legal, hemp/cannabis, consumer packaged goods space," said Cliff Fleet, President and Chief Executive Officer of 22nd Century Group. "This investment is a major milestone in 22nd Century's on-going execution of our hemp/cannabis strategic growth plan and offers the opportunity for strong projected shareholder returns.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial and corporate news dissemination by NewLeaf Brands Inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com .

Media Contact:
info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com

Cision
View original content: http://www.prnewswire.com/news-releases/psychedelics-begin-to-command-greater-stature-in-the-medical-field-301068955.html

SOURCE FinancialBuzz.com

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright (C) 2020 PR Newswire. All rights reserved

/zigman2/quotes/205334348/delayed
US : U.S.: OTC
$ 8.80
-0.10 -1.12%
Volume: 863,026
Aug. 13, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/203485866/delayed
CA : Canadian Securities Exchange
$ 11.63
-0.15 -1.27%
Volume: 498,451
Aug. 13, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210559470/composite
US : U.S.: NYSE
$ 10.18
+0.38 +3.88%
Volume: 3.33M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.11 billion
Rev. per Employee
$94,401
loading...
/zigman2/quotes/207425803/composite
US : U.S.: Nasdaq
$ 4.65
+0.14 +3.10%
Volume: 3.95M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
$147,410
loading...
/zigman2/quotes/205566616/delayed
CA : Canada: Toronto
$ 6.14
+0.15 +2.50%
Volume: 1.51M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.73 billion
Rev. per Employee
$190,843
loading...
/zigman2/quotes/207391257/composite
US : U.S.: NYSE American
$ 0.68
-0.02 -3.20%
Volume: 5.57M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$97.55 million
Rev. per Employee
$322,273
loading...
/zigman2/quotes/203485866/delayed
CA : Canadian Securities Exchange
$ 11.63
-0.15 -1.27%
Volume: 498,451
Aug. 13, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.21 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210559470/composite
US : U.S.: NYSE
$ 10.18
+0.38 +3.88%
Volume: 3.33M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.11 billion
Rev. per Employee
$94,401
loading...
/zigman2/quotes/207425803/composite
US : U.S.: Nasdaq
$ 4.65
+0.14 +3.10%
Volume: 3.95M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
$147,410
loading...
/zigman2/quotes/205566616/delayed
CA : Canada: Toronto
$ 6.14
+0.15 +2.50%
Volume: 1.51M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.73 billion
Rev. per Employee
$190,843
loading...
/zigman2/quotes/207391257/composite
US : U.S.: NYSE American
$ 0.68
-0.02 -3.20%
Volume: 5.57M
Aug. 13, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$97.55 million
Rev. per Employee
$322,273
loading...

Comtex
Link to MarketWatch's Slice.