FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “NewLeaf Brands Signs LOI to Acquire Colorado Based Mydecine Group; Enters the Medicinal & Infused Mushroom Space.”
NewLeaf Brands Inc. (CSE: NLB) (OTC: NLBIF) (FSE: 0NF) (“NewLeaf Brands” or the “Company”) is pleased to announce that it has signed a letter of intent (the “LOI”) dated April 6, 2020 to acquire Mydecine Group (“Mydecine”), a Colorado headquartered company. Mydecine is a vertically integrated company engaged to utilize the vast medicinal, health and wellness capabilities of the many compounds found in various strains of mushroom and fungi as a whole. The Company, through its three wholly-owned divisions, “Mydecine Farms”, “Mydecine Wellness”, and “Psydecine Labs” aims to be an industry pioneer in the cultivation, processing, product development, and research and development of the many beneficial and exciting compounds that are found in various strains of mushroom and fungi from all around the world.
NewLeaf Brands, Inc. is an innovative Cannabidiol (“CBD”) lifestyle Company. Through the Company’s wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company’s main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA.
There is a growing acceptance of psychedelic drugs being used as treatment for various health conditions including depression, panic disorders, post-traumatic stress disorder (PTSD), and opiate addiction. In addition, such drugs are also used to enhance or change sensory perceptions, energy levels, thought processes, and to facilitate spiritual experiences. Generally, psychedelic drugs can be categorized into dissociative drugs (such as PCP), empathogens and serotonergic (classic hallucinogens, such as LSD), and those sourced from synthetic processes (human-made) and plants or mushrooms. Currently, different research studies are underway and are expected to provide a competitive advantage for new and innovative therapeutic manufacturers. And in the United States alone, the psychedelic drugs market is projected to reach a value of USD 6,859.95 Million by 2027 from USD 2,077.90 Million in 2019 while growing with a CAGR of 16.3% in the forecast period of 2020 to 2027, according to Data Bridge Market Research.
In recent years, several psychedelic drug product launches and developments were announced and initiated by companies worldwide. For example, in September 2019, Jazz Pharmaceuticals, Inc. had published optimistic data sets from JZP-258’s Phase 3 study for the treatment of excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy. Data Bridge Market Research indicates that in March 2019, Johnson & Johnson Services, Inc. had received the U.S. Food and drug Administration (FDA) authorization for SPRAVATOTM (esketamine) nasal spray CIII antidepressant for treatment-of resistant depression.
For more information, please visit: NewLeaf Brands Inc.
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