Published on
August 31, 2021

Blackhawk Growth Corp (CSE:BLR) Acquires MindBio Therapeutics Pty Ltd

BLACKHAWK GROWTH TO COMPLETE INVESTMENT IN PSYCHEDELIC AND WELLNESS COMPANY MINDBIO THERAPEUTICS PTY LTD. Vancouver, British Columbia – August 31, 2021 – Blackhawk Growth Corp. (CSE:BLR; Frankfurt:0JJ) (the “Corporation” or “Blackhawk”), is pleased to announce that it has entered into a share purchase agreement, dated effective August 30, 2021, in which it will acquire control of MindBio Therapeutics Pty Ltd (“MindBio Therapeutics”).

MindBio Therapeutics is an arms-length privately held clinical stage drug development company that is pioneering psychedelic micro-dosing research and is advancing emerging therapies to treat a range of debilitating health conditions such as depression, anxiety, chronic pain, cognitive impairment and PTSD. In a world’s first clinical trial of its kind, MindBio Therapeutics has started Phase 1 clinical trials at the University of Auckland in New Zealand, in a safety study of 80 participants micro-dosing LSD to patients. The study has received regulatory approval and government funding for the importing of LSD, laboratory work using the drug and approvals for participants to be prescribed the drug and then patients take the drug at home as they would any other medication. Approvals have also been received for Phase 2 clinical trials involving micro-dosing LSD in late-stage cancer patients experiencing end of life distress. MindBio Therapeutics is also pioneering the development of micro-dose formulations and a range of technology and artificial intelligence applications to ensure the safe dosage, use and administration of psychedelic medicines in the community. Early indications show that LSD is tolerated well in micro-doses and has a lower side effect profile than the currently prescribed anti-depressant drugs. MindBio Therapeutics completed an equity financing for proceeds of approximately AUD$1,300,000, which gives it sufficient working capital to complete Phase 1 clinical trials. Completion of this financing was critical for Blackhawk to ensure MindBio Therapeutics was properly capitalized prior to the acquisition. “We are excited to become part of the Blackhawk portfolio, which expands our investor reach to the capital markets in North America and we are now truly a global company with connections in Australia, New Zealand and Canada. We are excited by the prospect of accelerating our clinical research micro-dosing psychedelic medicines in Phase 2 clinical trials and the next steps towards commercialisation” says Justin Hanka, Director of MindBio Therapeutics. “The acquisition of MindBio Therapeutics will help to scale our life science and psychedelic portfolio” said Frederick Pels, CEO of Blackhawk. “Complementing our current assets, a clinical trial and a management team with decades of experience in the health sector will enable Blackhawk and MindBio Therapeutics to be leaders in the legal psychedelic treatment industry that we believe will only continue to grow exponentially. We look forward to updating our shareholders with our progress over the coming months.