(TheNewswire)
Vancouver, British Columbia - TheNewswire - January 24, 2022 -Blackhawk Growth Corp. (CSE:BLR ) (CNSX:BLR.CN)(OTC: BLRZF) ( Frankfurt:0JJ)(the “ Company ” or “ Blackhawk ”) is pleased to announce that itssubsidiary MindBio Therapeutics Pty Ltd. (“ MindBio ”) hasentered into the final stage of a Phase 1 clinical trial involvingmicrodosing LSD and is on track for completionin March 2022, ahead of its original 12 month schedule.
At completion of the Phase 1 trial, MindBio will haveimportant data and intellectual property on microdosing of medicalpsychedelics. Having successfully passed the Phase 1 clinicaltrial’s independent Data and Safety Monitoring Committee and with noadverse events, MindBio is confident it has sufficient data, protocolsand strategy for its next phase of clinical trials.
MindBio has also started preparation work for a Phase 2clinical trial which includes the design of its proprietary psychedelic microdosingformulations that can subsequently be manufactured under GoodManufacturing Practices (GMP) standards for subsequent use bothcommercially and in clinical trials.
MindBio is working towards creating a safe andeffective microdosing regimen using psychedelics that can beprescribed by doctors to patients in the primary health caresystem . In larger doses, LSD is ahallucinogenic drug that substantially changes cognition, thinking,mood and perception, however in much smaller “microdoses”, themedicine is subperceptual, meaning that patients can take the drugwithout noticing its hallucinogenic effects, but still receive themedicinal benefit and get on with their normal day.
MindBio wants to be the first to market bycommercializing a microdosing regimen with substantial potentialglobal mental health care benefits that:
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have potentially lower side effect risk profile toexisting pharmacological treatments such as anti-depressants andbenzodiazapines for the treatment of a range of mental healthconditions;
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offer less risk of harm than large, one-off doses ofpsychedelics;
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affect’s brain neuroplasticity after acuteadministration , in the same way that largerhallucinogenic doses affect the brain, yet the patient is still ableto get on with their normal day after ingesting the microdose. Thisis not possible with a psychedelic macro-dosing treatment sessionwhich requires an in clinic therapeutic session guided by cliniciansover many hours; and
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is a scalable solution to global mental healthtreatment.
The results of this important clinical trial will formthe basis for advancing the commercialization of a psychedelicmicrodosing regimen for safe use in the community.
1. https://www.beckleyfoundation.org/2018/06/13/psychedelics-promote-neural-plasticity
Update on Spinout Process
Blackhawk is also pleased to report that MindBio is well underway with its proposed spinout.
In December 2021, Blackhawk announced its intention tospinout MindBio as well as Digital Mind Technology, both wholly-ownedsubsidiaries of Blackhawk, into a newly formedsubsidiary of spinco. It is aniticipated that the spinco willultimately pursue a separate public listing.
The Company is pleased to report that since theannouncement, the Company and its subsidiaries have appointed theirlegal teams and have progressed with preparation of materials tocomplete the spinout.
MindBio intends to create a focused multi-disciplinaryplatform for one of the most progressive psychedelics and mentalhealth development companies in the world with four (4) clinicaltrials in development and underway this year. Using novel drug development, microdosing psychedelics, assisted therapies and technology, MindBio isworking towards changing the way that mental health disorders aretreated.
It is anticipated that the spin out and listing ofMindBio will create significant shareholder value as each Blackhawkshareholder will receive one commonshare in the newly listed spinco for every share held in Blackhawk, on a pro rata basis, basedon a record date that is expected to be set after shareholder andregulatory approvals are received . The Companyis expecting to make further announcements on the timetable of thespinout as it becomes available.
“ All of our portfolio companiesare making significant progress these days”, said Frederick Pels,CEO of Blackhawk. “Our management teams at MindBio and Digital MindTherapeutics are working hard to complete this Phase 1 clinical trialand move onto its Phase 2, which I am pleased to report is trackingahead of schedule, bringing us another step closer to commercializingour unique microdosing protocol. In addition, there has beensubstantial progress on the necessary steps to facilitate our proposedspinout. I look forward to updating shareholders as we progressfurther.”
About Blackhawk Growth
Blackhawk is an investment holding company looking tocreate substantial value for its shareholders through the acquisitionand development of high growth companies. It has focused itsinvestments in the health, cannabis and cannabidiol industries in bothCanada and the United States. Its portfolio of companies includes TERPWholesale, Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food,NuWave Foods, MindBio Therapeutics and Digital Mind Technology, aswell as an equity position in Gaia Grow (CSE:GAIA).
The Company diligently posts updates through videosfrom the official company YouTube channel
Please visit us online at www.blackhawkgrowth.com .
For further information please contact:
Frederick Pels, Chief ExecutiveOfficer
(403)-991-7737
fred@ blackhawkgrowth.com
Cautionary NoteRegarding Forward-Looking Statement
All statements in this pressrelease, other than statements of historical fact, are “forward-looking information”with respect to the Company within the meaning of applicablesecurities laws, including with respect to of the intended spinout ofMindBio Therapeutics Pty Ltd. The Company provides forward-lookingstatements for the purpose of conveying information about currentexpectations and plans relating to the future and readers arecautioned that such statements may not be appropriate for otherpurposes. By its nature, this information is subject to inherent risksand uncertainties that may be general or specific and which give riseto the possibility that expectations, forecasts, predictions,projections or conclusions will not prove to be accurate, thatassumptions may not be correct and that objectives, strategic goalsand priorities will not be achieved. These risks and uncertaintiesinclude but are not limited those identified and reported in theCompany’s public filings under the Company’s SEDAR profile atwww.sedar.com. Although the Company has attempted to identifyimportant factors that could cause actual actions, events or resultsto differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
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