MINDCURE Completes Its Initial Strategic Equity Investment in ATMA, Canada's First Commercial Provider of Legal, Psychedelic-Assisted, Therapy Utilizing Psilocybin
Mar 16, 2021 10:40 AM ET
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Mind Cure Health Inc. , a leader in developing technology to advance psychedelic-related treatments, is pleased to announce the completion of its initial strategic equity investment of equal to approximately 13% ownership in ATMA Journey Centers Inc. ("ATMA") in accordance with the terms of the letter of intent (the "LOI") announced on January 12, 2021.
MINDCURE's initial strategic investment of $500,000 will strengthen our relationship with Calgary-based private healthcare company, ATMA, which has recently provided psychedelic-assisted therapy sessions using psilocybin for patients with section 56 exemptions.1 MINDCURE will leverage the growing partnership with ATMA to secure a network of clinics in which to deploy and test MINDCURE's iSTRYM platform, and concurrently, provide MINDCURE with access to patient data accelerating the growth of iSTRYM's database. This will lead to better diagnoses, treatments and personalized care.
"Our partnership with ATMA represents a huge step forward for healing today in Canada and around the world. By accelerating the development of our research and technology platform, iSTRYM, we're closer to minimizing the gaps that exist in health care, all the way from research to the deployment of care. It's an amazing opportunity to innovate with pioneers of the psychedelic therapy industry by creating proprietary research, identifying commonalities, and driving real transformative results for individuals using psychedelic medicines," said Kelsey Ramsden, President & CEO, MINDCURE.
Access to ATMA's patient data will contribute to MINDCURE's proprietary technology, iSTRYM, ultimately helping to optimize treatment for ATMA's patients and providing a rich data resource for MINDCURE, in accordance with the LOI.
"As the first commercial company in Canada to announce legally treating a palliative patient with psychedelic-assisted therapy using psilocybin, we're optimistic about the progression to better care options for Canadians. By partnering with MINDCURE, we're enforcing consistency in terms of protocols, as well as the ability to automate patterns in our patients' conditions. Overall, this will lead to better patient care, and a stronger foundation for this innovative and leading-edge industry," said Greg Habstritt, President of ATMA Journey Centers Inc. "Our mission is to deliver effective and innovative healing and transformative experiences that leverage the compelling science around psychedelics. We're committed to providing the resources, safeguards, expertise, and accessibility into
ATMA is a private healthcare company with the mission of delivering effective and innovative healing and transformative experiences that awaken the inner healer and promote a deeper connection with the self, with others, and with the beauty of the world. ATMA was the first private sector service provider in Canada to announce conducting legal psychedelic-assisted therapy for a palliative care patient under the approval of Health Canada's section 56(1) exemption.
The Company has granted a total of 300,000 stock options to certain employees or consultants pursuant to the terms the Company's incentive stock option plan ("Plan"). The stock options are exercisable at a price of $0.63 per share and subject to the terms of the Plan.
About Mind Cure Health Inc.
MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE 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.
MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. MINDCURE 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
Kelsey Ramsden, President & CEO
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