TORONTO, March 04, 2021 (GLOBE NEWSWIRE) -- PsyBio Therapeutics Corp. (TSXV:PSYB) (“PsyBio”), a leader in the field of psychedelic research and drug development, announces that, subject to the receipt of approval by the TSX Venture Exchange (“TSXV”), it has retained Generation IACP Inc. (“Generation”) to provide market making services with the objective of maintaining a reasonable market and improving the liquidity of PsyBio shares traded on the TSXV. PsyBio and Generation are unrelated and unaffiliated entities. Generation is a member of the Investment Industry Regulation Organization of Canada (IIROC) and a member firm of the TSXV.
Under the agreement between Generation and the Company (the “Generation Agreement”), the Company has agreed to initially pay Generation a fee of CAD$7,500 plus applicable taxes per month for a six-month term, subject to termination in accordance with the notice provisions provded for in the Generation Agreement. Generation will not receive any securities as compensation. Generation does not currently own any securities of PsyBio; however, Generation and its clients may acquire a direct interest in the securities of the Company.
About PsyBio Therapeutics Corp.
PsyBio is a biotechnology company developing novel formulations of psychoactive medications using genetically modified bacteria for the treatment of mental health and other disorders. The team has experience in drug discovery based on synthetic biology and clinical and regulatory experience moving drugs through human studies and regulatory protocols. Research and development are currently ongoing for natural occurring tryptamines in different varieties of magic mushrooms, dimethyltryptamine and its derivatives, and mescaline and combinations thereof. The Company is also researching and developing new molecular structures that do not occur in nature which may have unique therapeutics properties.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that: the retention of Generation will help maintain a reasonable market and improve the liquidity of PsyBio Shares traded on the TSXV; PsyBio will be successful in protecting its intellectual property within the next year and filing new patent applications within that timeframe; the Company’s success in discovering new valuable target molecules; and the safety and efficacy of PsyBio’s technology and that such technology will be cheaper, faster and greener than other published methods. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting PsyBio’s business and results of operations; decreases in the prevailing process for psilocybin and nutraceutical products in the markets in which PsyBio operates; the impact of COVID-19; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
PsyBio makes no medical, treatment or health benefit claims about PsyBio’s proposed products. The U.S. Food and Drug Administration (the “FDA”) or other similar regulatory authorities have not evaluated claims regarding psilocybin and other next generation psychoactive compounds. The efficacy of such products have not been confirmed by FDA-approved research. There is no assurance that the use of psilocybin and other psychoactive compounds can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. PsyBio has not conducted clinical trials for the use of its intellectual property. Any references to quality, consistency, efficacy and safety of potential products do not imply that PsyBio verified such in clinical trials or that PsyBio will complete such trials. If PsyBio cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the PsyBio’s performance and operations.
The TSX Venture Exchange (the “TSXV”) has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
CEO, PsyBio Therapeutics Corp.
Kirsten Frazer, PhD