Psychedellux March 19, 2021

This is Psychedellux – the week’s top news in the psychedelics industry. 

Initiative 81 in Washington DC, the Entheogenic Plant and Fungus Policy Act of 2020, became law. Initiative 81 changed DC law to make the enforcement of laws against those using plant and fungi medicines among the lowest law enforcement priorities. The ballot measure passed with support from more than 76% of DC voters in the November 2020 election.

Field Trip Health Ltd. (OTCQX: FTRPF) closed the bought deal offering that brought the company a whopping $95 million. The deal was upsized from the originally planned $50 million. 

Numinus Wellness Inc. (TSXV: NUMI) has entered into a upsized agreement with Eight Capital and Canaccord Genuity to raise $35 million. 

Novamind Inc., (OTC PINK:NVMDF) announced that its wholly-owned subsidiary, Cedar Clinical Research has been selected as a key research site for a clinical trial focused on treatment-resistant depression by Merck & Co., a world-leading pharmaceutical company.

British firm specializing in psychedelic drugs Small Pharma said it has raised C$58mln through a financing round to fund a reverse takeover. 

Lattice Biologics Ltd. (OTCBB: LBLTF) announced that it would change its business strategy to focus on the psychedelics and cannabis markets through the creation of a new life sciences subsidiary. 

Creso Pharmaceuticals Ltd (ASX:CPH) (FRA:1X8) has become the ASX’s first psychedelics stock by way of its acquisition of Canadian psychedelic medicine company Halucenex Ltd.

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