Mydecine completely Completes the First-Ever Overseas Export of Psilocybin Mushrooms and Solidifies its Clinical and Commercial provide Chain

DENVER, March 01, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), a growing biopharma business in the life sciences category devoted to the study and development, manufacturing, and acceptance of alternate nature-sourced medication for main-stream usage, has completed the world’s very first international appropriate export of dried psilocybin mushrooms.

In December 2020, the business announced the conclusion of its very first commercial harvest of 20 kilograms (44 pounds) of psilocybin mushrooms at an exclusive research that is mycology-focused cultivation facility in Jamaica. The first shipment of the harvest has now been received at Mydecine’s Canadian Current Good Manufacturing Practice (CGMP) facility, which has a Health Canada Schedule 1 license that is dealer’s to it, making it possible for legal import/export, research and development, cultivation, item development, and commercial purchase of active psychedelic medicinal substances.

“This milestone is significant to the 2021 objectives once we can now access a good supply of necessary item for both our personal research purposes, along with give CGMP psilocybin that is naturally-derived sell and transfer to other licensed research facilities around the globe. Our team has spent time that is significant with different federal government agencies to produce and develop sound protocols to make certain a smooth movement of biomass that is in complete conformity along with federal legislation. This is actually the very first and only solidified supply that is commercial of psilocybin mushrooms and we believe this supply chain will open up many doors to potentially collaborate and participate in initiatives that we find potentially promising,” said Joshua Bartch, CEO and Chairman of Mydecine. “We have made progress that is significant obtaining the very first IND quantity on a 99.9per cent pure psilocybin item that the artificial kind mimics. We think our natural-sourced psilocybin, that is both even less expensive and much more efficient compared to form that is synthetic will prove to be a better overall option to meet the current market demand as well as voids any and all potential patent claims. This marks a milestone of fulfilling on the promise of creating a fully vertical and uninterrupted supply that is global.”

“In the absolute most powerful psychedelic mushrooms, psilocybin is usually just around 1percent of its total mass. Which means up to 99percent regarding the mushroom consists of vegetative matter plus other prospective active compounds that are medicinal. At our lab, we have already discovered multiple other active compounds separate from psilocybin and psilocin from just our initial mushroom analysis that is psychedelic. In relation to our initial studies, we genuinely believe that this might do have more effective outcomes than simply single-molecule psilocybin that is synthetic. This supply chain will give us unrestrictive access that is scalable many forms of unique psychedelic mushroom species indigenous to Jamaica. This will somewhat increase our development and research and production efforts with some of the best types of mushrooms that we know of,” said Damon Michaels, Mydecine’s Co-Founder and Chief Operating Officer.

He continued, “Throughout history we have seen many historical instances involving the use of psychedelic medicine, more so the use of psychedelic mushrooms to be used as safe and effective medicine that is therapeutic assist in improving psychological accidents or expand a person’s general awareness. Today we could just take this form that is ancient of medicine and pair it with modern technology to better understand its active ingredients and how they specifically interact with the brain and body to produce the best, most controllable and beneficial results possible. For Mydecine to be able to create the world’s first legal supply that is global of nature-sourced psilocybin not to just satisfy its very own requirements, but to provide to many other certified research businesses, universities, and medical facilities around the globe, develop to finally break the barrier of stigma which help individuals obtain main-stream use of this sacred medication and change it back in a normal therapy.”

About Mydecine Innovations Group
Mydecine Innovations Group™ (CSE: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences business specialized in developing and commercializing revolutionary solutions for dealing with psychological state issues and vitality that is enhancing. The company’s world-renowned medical and scientific board that is advisory building down a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel substances, treatment protocols, and unique distribution systems. Mydecine has access that is exclusive a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling cultivation that is commercial of (non-psychedelic) medicinal mushrooms.

At one’s heart of Mydecine’s core philosophy is psychedelic-assisted psychotherapy continues to gain acceptance within the medical community with lots of the world’s most readily useful accredited research businesses showing its remarkable effectiveness that is clinical. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and supply that is global. Mydecine in addition has effectively finished acquisitions that are multiple its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

Mydecine Innovations Group Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
[email protected] / [email protected]
212-896-1265 / 212-896-1206

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer
[email protected]

Corp Communications:
Charles Lee, Investor Relations
[email protected]
+1 720-277-9879

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the accuracy or adequacy hereof. This news launch contains information that is forward-looking the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements that are forward-looking management’s present philosophy and are also centered on presumptions created by and information available to your business. Visitors are cautioned why these forward-looking statements are neither claims nor guarantees, and are also susceptible to dangers and uncertainties which will cause future leads to vary materially from those anticipated incorporating, without limitation, dangers concerning the pandemic that is COVID-19 the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify factors that are important might lead to real leads to vary materially from those found in forward-looking information, there could be other facets that can cause results not to ever be as expected, expected or meant. There may be no assurance that such information will turn out to be accurate, as real outcomes and events that are future differ materially from those anticipated in such information. These statements that are forward-looking made at the time of the date hereof and also the business will not assume any responsibility to upgrade or revise them to mirror brand new occasions or circumstances conserve because needed under relevant securities legislation.

This news launch will not represent an offer to offer securities while the business just isn’t soliciting an offer to purchase securities in almost any jurisdiction by which offer that is such solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any continuing state securities legislation and may even never be provided or offered in america or to a U.S. individual unless therefore registered, or an exemption from enrollment is relied upon.

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