Mind Cure Moves into Psychedelic Assisted Therapy with British Columbia Location Offering Ketamine and Psilocybin Therapy
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Vancouver, BC – December 10, 2020 – Mind Cure Health Inc. (CSE:MCUR – OTCQB:MCURF – FRA:6MH) (“Mind Cure” or the “Company”), is pleased to announce its plans to open the first Mind Cure Health Center, which will offer psychedelic-assisted mental health therapy to patients as well as training to therapists. Located in Kelowna, British Columbia, the center is scheduled to open in May of 2021, and will offer patients access to therapeutic treatments with ketamine and psilocybin through utilizing Section 56 Exemptions, a legal exemption to Canadian drug laws granted by Health Canada.
“We have always seen our business as caring for individual mental health and wellness on a spectrum, from those who are suffering and are in need of relief to those who are looking for enhanced clarity, focus and overall well-being,” said Mind Cure President and CEO Kelsey Ramsden.
Mind Cure’s first Health Center will enable treatment and study of psychedelic-assisted therapy with personalized and technology enabled care, supporting individuals before, during and after treatment. The Kelowna location will offer eight treatment rooms and will serve a very important role to Mind Cure beyond its therapeutic opportunities. “This first Mind Cure Health Center will also act as a training hub as we advance our training model for therapists who want to offer psychedelic-assisted therapy in their clinics, or who want to better understand the care offered by Mind Cure so that they can feel confident referring patients,” continued Ramsden.
Mind Cure believes that a number of people seeking psychedelic-assisted therapy are not just those seeking relief from depression, migraines, and physical and psychological pain, but also individuals following the lead of executives, first from Silicon Valley and now, around the world, who have been looking to enhance their holistic wellness plans and productivity utilizing these therapeutic experiences. “Kelowna is a logical first location for a Mind Cure Health Center, both because of its proximity to Vancouver and Calgary, International Airports, as well as its growing local population and reputation as a destination city,” said Ramsden.
Mind Cure announced earlier this week that it is initiating its translational research program, focused on psilocybin, ketamine and ibogaine. The first two psychoactive compounds, psilocybin and ketamine, will be the first offered at the Health Center. Mind Cure also plans on rolling out an experience driven by technology for both therapists and patients, to enhance treatment potential and improve post-therapy integration and patient outcomes.
The Company has granted a total of 200,000 stock options to certain employees pursuant to the terms of the Company’s incentive stock option plan (the “Plan”). The stock options are exercisable at a price of $0.65 and subject to the terms of the Plan.
About Mind Cure Health Inc.
Mind Cure exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
Mind Cure is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. Mind Cure is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
On behalf of the Board of Directors
Philip Tapley, Chairman, President, and CEO
Phone: +1 888 593-8995
Mind Cure Health Inc.
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Certain statements in this news release may constitute "forward-looking information" within the meaning of applicable securities laws (also known as forward-looking statements). Forward-looking information involves known and unknown risks, uncertainties and other factors, and may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: Mind Cure’s plan to complete the Offering and the terms thereof; the anticipated timing of closing of the Offering; Mind Cure’s intention to evaluate new product candidates, support existing product lines, increase spending for investor relations, advertising and marketing and to hire and engage additional parties to help achieve its business goals and objectives; Mind Cure being able to complete the Offering; the number of Units to be issued at closing of the Offering and the gross proceeds received; the timing of the closing of the Offering; the payment of any cash commissions, cash fees or issuance of warrants to finders; the exercise of warrants; and the use of net proceeds from the Offering.
Forward-looking information is based on a number of key expectations and assumptions made by Mind Cure, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and Mind Cure's business, and the extent and duration of such impact; Mind Cure’s ability to complete the Offering and to complete it on the proposed terms; no material change will occur before trading resumes on the CSE; no change to laws or regulations that negatively affect Mind Cure's business; there will be a demand for Mind Cure's products in the future; and Mind Cure will be able to operate its business as planned. Although the forward-looking information contained in this news release is based upon what Mind Cure believes to be reasonable assumptions, it cannot assure investors that actual results will be consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as a guarantee of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information. Those risks and uncertainties include, among other things, risks related to: the impacts of the COVID-19 pandemic on the Canadian economy, Mind Cure's industry and Mind Cure's business, which may negatively impact, and may continue to negatively impact, Mind Cure and may materially adversely affect Mind Cure's investments, results of operations, financial condition and Mind Cure's ability to obtain additional equity or debt financing, and satisfy its financial obligations; the ability for Mind Cure to close the Offering on the proposed terms or at all; the ability for Mind Cure to continue to list its shares on the CSE or another exchange; circumstances may change resulting in the use of proceeds set out in this news release; general economic conditions; future growth potential; common share prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; competition for mental health and wellness investments; environmental matters; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained herein are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with such forward-looking information. Additional information on the risk factors that could affect Mind Cure can be found under "Risk Factors" in the Prospectus which is available on SEDAR at www.sedar.com.
The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and is based on information currently available to Mind Cure. The forward-looking information is stated as of the date of this news release and Mind Cure assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.
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