MIAMI, March 21, 2022 (GLOBE NEWSWIRE) — Mycotopia Therapies Inc. (OTC Pink: TPIA) (the “Company”), a biopharmaceutical company focused on the research, technology and development of medical psychedelics, today announced its intention to enter the $13 billion medicinal mushroom market with HAVN Life Sciences biopharmaceuticals and Ei.Ventures MANA products. In anticipation of its acquisition of Ei.Ventures and its intention to form PSLY.COM, Mycotopia Therapies has expanded its supply agreement with HAVN Life Sciences to include Functional Mushrooms, HAVN Life’s recently launched natural health products and its range of white label products. PSLY.COM will also be the name of the recently acquired 12×12 domain in The Sandbox, a virtual world where gamers can build, own and monetize their gaming experiences on the Ethereum blockchain. This purchase, valued at $2.2 million, represents the third largest land sale in the Metaverse and was the subject of a January 5, 2022 Forbes article by AJ Herrington titled Startup Plans Psychedelic Trips In The Metaverse With Sandbox Virtual Land Deal.
Under the existing agreement, HAVN Life has provided naturally occurring psilocybin compounds to Mycotopia for US-based universities, researchers and companies. The expanded agreement will supply Mycotopia Therapies with HAVN Life’s functional mushrooms, as well as supply and white-label distribution of HAVN’s line of over-the-counter natural health products currently registered with the Jamaican Department of Health. The Jamaican Ministry of Health, together with its regional health authorities, constitute the public health system and are responsible for the provision of health care throughout the island. Besides Jamaica, other CARICOM countries are currently considering psychedelic medicine.
“We are delighted to expand our partnership with Mycotopia through the extension of our supply agreement,” said HAVN Life CEO Tim Moore. “We welcome the opportunity to see our products reach a wider market and look forward to working with Ben and his team as they develop herbal therapeutic treatment options that meet global health needs. mental,” he added.
In December, Mycotopia Therapies announced that it had entered into a letter of intent regarding a potential acquisition of botanical psilocybin pioneer, Ei.Ventures. Mycotopia Therapies and Ei.Ventures are moving forward with the acquisition, and Ei.Ventures has announced plans to terminate its Reg A filing with the SEC on March 22, 2022. After the acquisition, the name of the company will be changed to PSLY. COM, and management intends to pursue a listing on NASDAQ. When a definitive agreement is reached, the combined companies will pool their resources to develop regulatory-approved plant-derived psychoactive therapeutic treatment options and non-psychoactive nutritional supplements and related products that meet global health needs. of mental health. One of the first things the combined companies will focus on is using HAVN products with PSLY.COM’s MANA products, its line of whole plant medicinal mushroom nutraceuticals being developed for the market. of consumption.
The medicinal mushroom market is a $13 billion market, with an expected growth rate of 9.4% CAGR through 2026. PSLY.COM’s lead product will be Psilly, a plant botanical psilocybin-based formulation whole, which is currently in the preclinical phase. . The near-term goal is to move Psilly into preclinical and Phase 1 trials. In addition to targeting medical and therapeutic markets with its psychedelic solutions, as more states and cities legalize psilocybin at for therapeutic purposes, PSLY.COM plans to target consumer markets with its line of non-psychoactive mushroom nutraceuticals, MANA. The first whole-plant medicinal mushroom nutraceutical to be released on PSLY.COM is called Brain MANA, which is designed to help improve and support brain health, mental clarity and overall well-being. . PSLY.COM’s other MANA formulations will aim to improve immune health, sexual function, sleep quality, joint health and vitality. Just as different strains of cannabis have therapeutic properties, so will MANA. Revenue from PSLY.COM’s MANA line will help reduce overall cash burn.
As part of its mental wellness platform, PSLY.COM also plans to launch a telepsychiatry app, which will be designed to support patients and wellness seekers on their healing journeys. The demand for telepsychiatry services represents a $5.5 billion market with untapped potential. It is expected to grow at a compound annual growth rate (CAGR) of 24.7% from 2020 to 2027. Ehave, Inc. currently owns the majority of shares in Mycotopia Therapies. After the acquisition, Ehave plans to distribute part of its shares to its shareholders. Ehave focuses on the healing properties of psychedelics and will provide various technology-related services for PSLY.COM in its technology offerings.
Ben Kaplan, CEO of Mycotopia Therapies, said, “Mushrooms are the second fastest growing and underserved natural health supplement in the market. This expanded agreement supports our ambitious product development and R&D milestones by providing a potential alternative to synthetically derived psilocybin at a fraction of the cost. Mr. Kapan continued, “With HAVN supplying Mycotopia Therapies with functional mushrooms, this helps address potential supply chain issues and allows Mycotopia to move into the distribution and revenue generation phase of our plan. business, as we partner with Ei.Ventures and form PSLY. .COM. »
About Mycotopic Therapies
Mycotopia Therapies focuses on helping you heal and take control of your life. Your healing journey is an understanding of the causes and contributes to mental wellness through enhanced psychedelic psychotherapy, integrated with a professional team of mental wellness practitioners and state-of-the-art technology. Psychedelic therapy is a holistic and spiritual approach to healing and has been proven over many years. Additional information about Mycotopia Therapies is available on the Company’s website at: https://www.mycotopiatherapies.com.
About HAVN Life Sciences Inc.
HAVN Life Sciences is a biotechnology company that pursues the standardized extraction of psychedelic compounds for the creation of APIs, the development of natural health products and innovative therapies to support brain health and enhance the capacities of the mind.
Through its research division, HAVN Labs, the company has developed an end-to-end supply chain of GMP naturally occurring psychedelic compounds for research that will define the future of modern medicine. With its new line of natural health products, HAVN Life offers a full line of high-quality mushroom and herbal extracts that help boost immune function, reduce inflammation, and support a healthy lifestyle. Additional information about HAVN Life Sciences is available on the Company’s website at: yourhavnlife.com.
About Ei. Companies
Emotional Intelligence Ventures, a company dedicated to the research and production of botanical psychedelics, has announced a public offering of shares using the Reg A+ framework. Hey. Ventures’ main differentiator in the space is a self-imposed directive to work exclusively with non-synthetic, herbal and mushroom ingredients for psychedelic and non-psychedelic products. https://www.Ei.Ventures
Disclaimer of Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be prefaced by the words “intends”, “may”, “will”, “expects”, “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed. or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and development efforts; (ii) the Company’s ability to advance its products to complete their development and commercialization; (iii) the manufacture, development, marketing and market acceptance of the Company’s products; (iv) lack of sufficient financing to fund product development and commercial operations; (v) competitive businesses and technologies within the Company’s industry and the introduction of competing products; (vi) the Company’s ability to establish and maintain business collaborations; (vii) loss of key management personnel; (viii) the extent of protection the Company is able to establish and maintain for the intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential non-compliance with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting the actions of the US FDA and its regulations. Any forward-looking statements included in this press release speak only as of the date of this press release. The Company undertakes no obligation to update any written or oral forward-looking statement, except as required by law. More detailed information about the company and the risk factors that could affect the making of forward-looking statements is contained under the heading “Risk Factors” in 20/20 Global, Inc.’s registration statement on Form F- 1 filed with the securities. and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.
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