Champignon Brands Inc. (“
Champignon” or the
“
Company”)
(CSE: SHRM) (FWB: 496) (OTCQB:
SHRMF), a human optimization sciences company focused on
applying novel and natural treatment protocols to address a broad
range of disorders and deficiencies with an emphasis on psychedelic
medicine, continues to strengthen its vertically integrated
psychedelic medicine ecosystem via the acceleration of its ketamine
topicals prescription fulfillment capabilities.
The Company is pleased to announce the addition of central fill
and compounding infrastructure for its proprietary ketamine
formulations via a location at one of Canada’s leading retail
pharmacy chains (the “Pharmacy”), as well as the
dispensing of its products throughout the Pharmacy’s network.
Champignon will leverage the Pharmacy’s existing infrastructure
to distribute or “central fill” ketamine topical prescriptions to a
network of Canadian medical and pain/addiction clinics (the
“Clinics”). These compounded products will provide
Champignon an accretive revenue stream with robust margins.
Champignon and the Pharmacy have also begun to design a custom,
Level B clean room (the “Clean Room”), located
within the current Pharmacy footprint. The Company will leverage
its Clean Room to compound and package its ketamine formulations
including, but not limited to, off-market intranasal esketamine and
ketamine topicals. Champignon projects that the construction of its
Clean Room will be complete by Q3 2020 and will contain all design
specifications per new NAPRA guidelines.
“With this arrangement, Champignon boasts complete vertical
integration with respect to our rapid onset ketamine treatments and
therapies. From novel formulations to product development at a
purpose-built GMP and DIN licensed pharmaceutical facility, and now
automated prescription fulfillment and on-site compounding
infrastructure, we have managed to capture the entire product
lifecycle,” commented Gareth Birdsall, CEO of Champignon.
Champignon’s central fill capabilities will optimize the
Company’s prescription fulfillment infrastructure, all while
simultaneously advancing its ketamine data collation initiatives
for the following indications: concussion/traumatic brain injury
(TBI), anxiety and treatment resistant depression.
Champignon’s ketamine-based formulations will be used by the
Clinics for the purposes of conducting chart reviews and associated
patient studies under human ethics approval from Health Canada.
Resulting data from the chart reviews/studies will be used by the
Company for peer-reviewed publishing mandates, as well as to
expedite future Phase 1 human clinical trials.
Birdsall added, “The data collated by our network of clinics as
physicians prescribe our ketamine products for a variety of
indications will assist with improving the success outcomes of our
planned trials for later this calendar year.”
Additionally, Champignon is pleased to announce that it has
closed its acquisition of AltMed Capital Corp.
(“AltMed”), subject to the submission of the
necessary filings to the BC Corporate Registry and including any
other necessary regulatory approvals.
AltMed is a Canadian ketamine clinic operator, psychedelic
medicine IP aggregator and novel drug discoverer. AltMed has a
suite of assets that will accelerate Champignon's multipronged
business strategy, enabling the Company to reach the consumer
directly through rapid-onset medical treatments, with an
anticipated rollout of new clinical entities (NCEs) already
identified and to be opened across the United States and
Canada.
Furthermore, the Company reports that AltMed has purchased the
balance of the shares of the Canadian Rapid Treatment Centre of
Excellence Inc. (“CRTCE”), resulting in a 100%
ownership of the CTRCE by AltMed and replacing the originally
contemplated retained interest in CRTCE to be held by its
principals.
The CRTCE is licensed (2018) by the College of Physicians and
Surgeons Ontario (CPSO) under OHPP (out-of-hospital premise
program) to administer ketamine treatments for indications,
including, but not limited to, depression, bipolar disorder,
posttraumatic stress disorder and obsessive-compulsive disorder
(OCD). The CRTCE is the only vertically integrated rapid-onset
treatment centre operating from proof-of-concept to human clinical
trials and publication, with study results in peer-reviewed
journals by the world's leading experts in psychopharmacology.
With this acquisition now complete, the Company stands ready to,
among other things, to open a minimum of 5 new clinics in key
markets, including New York, Florida and California, which are
anticipated to be fully operational by Q4 2020. In
consideration of the transaction, 76,034,000 common shares have
been issued, of which 17,122,000 will be subject only to applicable
hold periods under securities legislation and 58,912,000 will be
subject to voluntary resale restrictions and released in five equal
tranches every three months and being subject to applicable hold
periods under securities legislation. Additionally, 2,100,000 share
purchase warrants will be issued in exchange for outstanding AltMed
share purchase warrants. A finder's fee is applicable to this
transaction.
About Champignon Brands Inc.
Champignon Brands Inc. (CSE: SHRM) is a research-driven company
specializing in the formulation of a suite of medicinal mushrooms
health products as well as novel ketamine, anaesthetics and
adaptogenic delivery platforms for the nutritional, wellness and
alternative medicine industries. Via its vertically integrated
alternative medicine product range, Champignon is pursuing the
development and commercialization of rapid onset treatments capable
of improving health outcomes for patients suffering with conditions
like depression and post-traumatic stress disorder (PTSD), as well
as substance and alcohol use disorders. Under a collaborative
research agreement with the University of Miami's Miller School of
Medicine, the Company is conducting preclinical studies and
eventual human clinical trials, with the objective of demonstrating
safety and efficacy of the combination of psilocybin and
cannabidiol in treating mTBI with PTSD or stand-alone PTSD.
Champignon continues to be inspired by sustainability, as its
medicinal mushroom-infused SKUs are organic, non-GMO and vegan
certified. For more information, visit the Company’s website at:
https://champignonbrands.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
W. Gareth Birdsall CEO & DirectorT: +1 (613)
967-9655E: info@champignonbrands.com
FOR INVESTOR INQUIRIES:
Tyler Troup Circadian Group
E: SHRM@champignonbrands.com
FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy ScalabriniMaricom Inc.E: rs@maricom.ca T: (888)
585-MARI
The CSE and Information Service Provider have
not reviewed and does not accept responsibility for the accuracy or
adequacy of this release.
Forward-looking Information Cautionary
Statement
Except for statements of historic fact, this
news release contains certain "forward-looking information" within
the meaning of applicable securities law. Forward-looking
information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are
based on the opinions and estimates at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those anticipated in the forward-looking statements
including, but not limited to delays or uncertainties with
regulatory approvals, including that of the CSE. There are
uncertainties inherent in forward-looking information, including
factors beyond the Company’s control. There are no assurances that
the business plans for Champignon Brands described in this news
release will come into effect on the terms or time frame described
herein. The Company undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change except as required by law. The
reader is cautioned not to place undue reliance on forward-looking
statements. Additional information identifying risks and
uncertainties that could affect financial results is contained in
the Company’s filings with Canadian securities regulators, which
are available at www.sedar.com.
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