Vancouver, British Columbia – TheNewswire – October 16, 2020 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN)(Frankfurt:0JJ) US (OTC:BLRZF) (the “Company“), is pleased to announce that it has acquired (the “Transaction“) all of the outstanding share capital of Trip Pharma Inc. (“Trip Pharma“).
Led by Dr. Krista Leicht, Trip Pharma is a privately-held arms-length psychedelic development and wellness company based in Edmonton, Alberta. Trip Pharma is currently pursuing the buildout of a purpose-built facility that will provide a supply of high-quality products for use in research and prescription for clinical patients. Trip Pharma intends to conduct research in psilocybin producing mushrooms, is in the process of submitting an application for a Controlled Drugs and Substances Dealers License in Canada and is working to source a library of Psilocybin Cubensis genetics.
Trip Pharma also plans to develop a psychiatric research clinic where patients are able to access care, as well as complementary treatments, in a welcoming and stigma-free environment. If and when Trip Pharma receives its dealers license, the clinic intends to conduct research into the use of psilocybin for the treatment of depression, anxiety, post-traumatic stress, chronic pain and fatigue, sleep disorders, sexual dysfunction, and attention deficit symptomatology, and then meet with patients to gauge their interest in the use of psilocybin as a potential therapy.
Once the clinic is developed, it is anticipated that Trip Pharma will own a 51% interest with Dr. Krista Leicht owning the remaining 49%.
About Trip Pharma’s Founder: Dr. Krista Leicht
Dr. Leicht is a Canadian-trained and Alberta-licensed medical doctor and psychiatrist, who brings over 20 years of clinical experience to the team. She has divided her time in a busy practice between inpatient and outpatient care, treating both the general adult psychiatry population and specializing in addressing the complex needs of developmentally handicapped individuals. Dr. Leicht maintains a hospital practice at Alberta Hospital Edmonton and sees outpatients in a South Edmonton clinic. She continues to teach medical students, residents and provides further education to family-practice colleagues. Dr. Leicht’s goal in clinical practice and in her own life has always been to go beyond — to provide unique and innovative treatments that better enrich the lives of patients is her mission.
About Trip Pharma’s Advisors:
Nicole Babey: About 3 years ago, both Ms. Babey and her husband went through some very difficult times with their mental health, and the two of them decided to look into natural treatment options as traditional pharmaceuticals were not working. Their research led them to both cannabis and psilocybin containing mushrooms. Over the last 3 years, Nicole has learned an enormous amount about the physiology and growing needs of fungi including ideal substrate, inoculation methods, incubation techniques, fruiting conditions, and preservation steps. She has also obtained an extensive genetics library, as well as become an expert on genetics preservation (spore collection and cloning as well as selection criteria to ensure vigorous growth and potency). She has also done experiential experimentation on dosing in both a micro and macro scale. Through this process, both Nicole and her husband have seen significant success in managing the symptoms of their mental health conditions, and can see the value in sharing this potential solution with others who suffer from treatment resistant depression, anxiety, and other life impacting issues. Psychedelics can truly be the key that unlocks a person’s ability to live an enjoyable, productive life.
Faith Shumba: Ms. Shumba has a sales and marketing background which she has used extensively in the cannabis community. With over 10 year experience working within the industry she has developed a passion for natural healing. After spending several years working in real estate and architecture, she has moved back to her passion of helping people enrich their lives. She strives to be an advocate within the community and as someone who has used psychedelics to drastically change her own life she aspires to help and educate others on how to also use alternative medicines to better their health and mental well-being.
Daniella Smith: Having spent 15 years in the integrative lifestyle and personal coaching industry, Daniela has a strong passion for assisting others with achieving a better sense of being and healthier way of life. She believes, through creating awareness in the body and mind, we can establish a new path that directs us into our strength.
Trip Pharma now forms part of the Company’s existing portfolio of investments in the cannabis sector. Trip Pharma’s existing management will continue to retain responsibility for overseeing day-to-day operations, based upon an agreed budget.
Transaction Structure
The Company acquired all of the outstanding share capital of Trip Pharma pursuant to a share purchase agreement entered into between the Company, Trip Pharma and each of the shareholders of Trip Pharma, dated effective October 13, 2020. In consideration for the completion of the Transaction, the Company has issued 30,000,000 common shares to the existing shareholders of Trip Pharma.
The Company is at arms-length from Trip Pharma and its shareholders. The Transaction neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with the completion of the Transaction, the Company has issued 3,000,000 common shares to an arms-length third-party who assisted with facilitating the Transaction.
Trip Pharma now forms part of the Company’s existing portfolio of investments in the health care sector. Trip Pharma’s existing advisors will continue to retain responsibility for overseeing day-to-day operations, based upon an agreed budget.
“I am extremely excited about this new venture” says Frederick Pels, CEO of Blackhawk. “Partnering with Dr. Leicht and her team gives us an incredible insight and edge into the psychedelic and wellness space in Canada. While we’re currently in the midst of pursuing a Canada dealers license that will allow us to conduct research, test, possess, buy and sell substances, our clinic should be ready to launch sometime in the new year. Given Dr. Leicht experience in the space, we hope our clinic will become a leader in the health and wellness space in Canada.”
“I am thrilled to be part of this foray into new frontiers where we hope to bring the opportunity for unique treatment to many” says Dr. Krista Leicht. “People suffering with various psychiatric issues, chronic pain, fatigue, and metabolic dysregulation, may have an alternative where conventional treatments have failed them, or have produced incomplete results. It is an exciting time in psychiatry and medicine. I am very grateful for the support of Blackhawk, and CEO Fred Pels, for their support, as I work to expand the treatment options for my patients.”
For more information on Trip Pharma, please visit their website at: www.trippharma.com
Readers are cautioned that Trip Pharma does not currently hold a Controlled Drugs and Substances Dealers License, and while an application for such a license has been submitted in Canada, there can be no guarantee that such application will be successful and a license granted. Until such time as the license is received, Trip Pharma is not permitted to possess psilocybin for the purposes of research and testing.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including with respect to the future prospects of the business of the Company and Trip Pharma. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
