(TheNewswire)
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MindBio is about to complete the world’s firstclinical trial of its kind microdosing a psychedelic medicine topatients who are prescribed the drug to take at home
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Independent safety audit committee review successfullycompeted
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Two Phase 2 clinical trials to follow
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Proposed meeting date of shareholders to approve the spinout - June20, 2022
Vancouver, British Columbia - TheNewswire - April 04, 2022 -Blackhawk Growth Corp. (CSE:BLR ) (CNSX:BLR.CN)(OTC:BLRZF) ( Frankfurt:0JJ) (the “ Company ” or “ Blackhawk ”) ispleased to announce that MindBio Therapeutics Pty. Ltd.(“ MindBio ”) has entered its 80 th and finalpatient into its Phase 1 clinical trial microdosing LSD (Lysergic AcidDiethylamide) in the largest safety trial of its kind ever to havebeen completed.
The global depression drugs market reached a value ofUS $12.7 Billion in 2020. 1 MindBio is targeting this market with the mostpromising innovation in treating depression that has occurred sincethe invention of traditional modern anti-depressant medications in themid 1980s.
Despite the investment in these traditionalanti-depressant medications and their prescription by doctors andpsychiatrists all over the world, the mental health crisis andprevalence of depression and related mood disorders has escalated withone of the leading causes of death in young people, beingsuicide. 2
MindBio has also started preparation work for two Phase2 Clinical Trials including the design of psychedelic microdosingformulations that can subsequently be manufactured under GoodManufacturing Practices (GMP) standards for use both commercially andin 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.
The results of this important clinical trial will formthe basis for advancing the commercialization of a psychedelicmicrodosing regimen for safe use in the community.
In addition, Blackhawk contines to move forward on thespinout of Mindbio from Blackhawk. It has set a number of key datesfor the transaction, including a proposed meeting date of shareholdersto approve the spinout of June 20, 2022. Further details regarding thespinout and the meeting will be made available in an informationcircular mailed to shareholders of record, and posted under theprofile for Blackhawk on SEDAR ( www.sedar.com ). Completion of the spinout remains subject to the receiptof shareholder, regulatory and court approvals.
“MindBio wants to be the first to market with ahighly effective psychedelic microdosing treatment regimen and thecompletion of each clinical trial milestone drives us closer towardsachieving our goal of changing the course of mental health treatmentforever,” said Frederick Pels, CEO of Blackhawk Growth. “Withprogress continuing, I expect significant value to be realized onceMindBio has spun out. I look forward to updating our shareholders aswe make progress.”
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 SacPharma, Terp Wholesale, LeichtMind Clinics, Noble Hemp, Spaced Food,Stable Foods, and MindBio Therapeutics, Digital Mind Therapeutics aswell as an equity position in Gaia Grow Corp. (CSE:GAIA).
The Company diligently posts updates through videosfrom the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
Please join the conversation on our Blackhawk groupsupporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://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 the spinout and futureoperations of MindBio Therapeutics Pty Ltd. The Company providesforward-looking statements for the purpose of conveying informationabout current expectations and plans relating to the future andreaders are cautioned that such statements may not be appropriate forother purposes. By its nature, this information is subject to inherentrisks and uncertainties that may be general or specific and which giverise to 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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