TITAN IS FOCUSED ON IDENTIFYING AND ACQUIRING INTEREST IN INNOVATIVE LEADERS IN THE MUSHROOM AND PSYCHEDELIC SPACE
VANCOUVER, BC, CANADA (February 5th, 2020) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), an investment company, is pleased to announce that its subsidiary, Titan Shrooms and Psychedelics has signed a letter of intent to form a joint venture with arms-length mushroom biotech company Mycology Ventures. The resulting joint venture would see Titan holding a 70% interest.
Mycology’s leadership brings extensive experience and combined networks from the cannabis, CBD and mushroom sectors, in addition to medical and academic research fields, which will be deployed to identify and secure early stage investment opportunities to benefit CODE shareholders.
The joint venture will be structured to include cash and shares, although no amounts of either have been determined yet. Investment will be tied to significant milestones including the following in the near term:
- Identification and evaluation of 1-3 investment opportunities that align to Mycology’s investment principles
- Continued industry networking through attendance at 2-5 qualified conferences
- Continue buildout of Advisory Board through PhD network at multiple universities
Mycology Ventures is taking a science and medicine first approach to identifying and bringing to market revolutionary alternatives for those suffering from mental health and addiction illnesses. Mycology is founded on the principle that psychedelic medicine is experiencing a revival as a result of recent research studies and significant signals of support from regulators as reported on major media properties, including an in-depth report on 60 minutes.1
“The US, along with many other countries, is illustrative of the dangers of opioid and anti-depressant pharmacology,” said Mr. George Tsafalas, Code CEO. “The resulting openness to viable alternatives, including psilocybin, by regulatory bodies and major research institutions is a strong indicator of the potential for this sector. As it relates to psilocybin for depression, the FDA has granted a ‘breakthrough therapy’ designation to advance legal clinical trials, which indicates that we are at the start of pioneering effort to reshape medicine as it applies to mental illness, pain management and addiction.”
Indicators of Regulatory and Market Acceptance
- FDA grants breakthrough therapy designation to advance clinical trials for psilocybin treatment for depression
- Johns Hopkins establishes Center for Psychedelic and Consciousness Research
- Imperial College London establishes the Centre for Psychedelic Research
“Mycology plans to incubate cutting edge approaches in the space, uniting academics and producers to monetize their ideas and techniques with the goal of helping bring this amazing alternative approach to market to benefit people suffering from mental health illnesses,” added Mr. Tsafalas.