Psychedelics producer Lucy Scientific Discovery Inc. (NASDAQ:LSDI) is launching a new brand of products containing unscheduled psychoactive compounds, soon available for sale in the U.S. and all other parts of the world where legal.

The first of the brand’s product lines, “Mindful by Lucy,” involves Amanita Muscaria mushrooms within a proprietary blend of other natural functional ingredients and is being launched together with partner cannabis brand High Times, following a strategic investment agreement in which Lucy received $2.5 million in advertising credits.

See also: Psychedelics Producer Lucy Scientific Discovery Partners With Pramantha Group For Funding: What's Next?

Lucy will work with parent company Hightimes Holding Corp. towards distributing and marketing the products first through High Times' websites and social channels, with product launch targeted for Q2 2023.

Lucy’s CEO Chris McElvany believes that adaptogens such as Amanita Muscaria mushrooms “are emerging as a leading therapeutic remedy” in the face of increasing awareness of mental health disorders. He expects the new partnership will promote the product’s potential health benefits to a broader audience.

Benzinga Psychedelics Capital Conference

The second edition of the Benzinga Psychedelics Capital Conference is up next! Taking place at the Fontainebleau Miami Beach Hotel in Florida on April 13, 2023, the event's THE place to get DEALS DONE, raise money, jumpstart M&A and meet investors and key partners. 

Get your tickets before prices go up.

Photo by Xan Griffin on Unsplash

The Consumer Packaged Goods (CPG) Market worldwide is expected to reach $2.3 trillion by 2027. However, CPG companies face multiple challenges such as how to strengthen consumer loyalty in a highly saturated market, differentiate their brands from other brands and attract consumers with volatile behavior.

More than ever CPG companies such as Nestle (OTC:NSRGY), Procter & Gamble Co. (NYSE:PG), and PepsiCo Inc. (NASDAQ:PEP) are looking to new segments such as self-care, plant-based products, and personalized items to bond with customers, provide an experience, and build a community.

Then, what can cannabis do for CPG companies and brands facing these challenges? We have come up with a straightforward list of reasons to consider cannabis as an alternative for CPG companies.

To know more, CPG companies will have the opportunity to meet with individuals, entrepreneurs, and organizations leading the cannabis supply chain during the next Benzinga Cannabis Capital Conference, taking place on April 11-12, 2023, at the historic Fontainebleau Hotel in Miami Beach.

Why CPG Companies Should Embrace Cannabis?

A Highly Regulated Industry, Think Global

Many companies are already growing cannabis in other parts of the world and are aiming high for global markets. If you are worried about liabilities and conflicts with the FDA, think again, because as more countries grow affordable cannabis, a global supply chain is starting to consolidate.

Cannabis global supply chain is relentlessly assembling competitive cannabis producers on one end, processors in the middle, and retailers, selling much more than just CBD or cannabis flowers.

From food to skincare and supplements, cannabis is a full-spectrum platform for CPG. And unlike the popular notion of being an illegal business, few industries are tracked and controlled as cannabis does. While new technologies have transformed cannabis extraction for therapeutic use, GMP regulations can ensure that products are safe for consumption and your brand is in line with EU regulations.

Sustainability

Consumers, Millennials and Gen Z in particular, are looking for values and meaning in brands. Thus, what used to be washed brands suitable for everybody to purchase, now need to take a stand for something, and cannabis is an industry that can be carbon neutral, delivering one of the most important values for society today: sustainability.

CPG brands can produce, distribute and sell products that are made with recycled materials, or reduce the impact of global warming by resorting to modern technologies, but can they sell a product that actually fixates carbon in the soil and amend deserted fields? As impactful as it sounds, cannabis absorbs carbon dioxide from the atmosphere more than twice as effectively as trees.

Culture Is Our Differentiator

Have you ever worn a t-shirt that reads Clorox? Watched a movie about laundry detergent? Or a song about snacks in the top-ranking music charts? Well, like many CPG brands, cannabis is all over public opinion, but clearly, people like to talk about cannabis in mainstream media. And unlike in the past, when cannabis was about getting stoned, in this century, cannabis is strongly associated with wellness and health.

Meanwhile, some of the most consumed products in the world are not backed by a culture of care, solidarity, and wellness, such as cannabis. People can get a kick from a new softener with a fresh scent, but can softener ease their pain, relax their minds or nurture their bodies? Do they feel passionate about how household products are made?

Unless you are a big fan of laundry, it is really hard for CPG marketers to create a vibe, much less a community around household products. That is not the case for cannabis. With over 5000 years of use, cannabis has become a pop icon and an object of tribute for many that enjoy its medical benefits.

Are you worried about omnichannel marketing and user-generated content for your CPG brand? Cannabis culture is already doing that for the industry at a micro, social level.

Personalization Is King

Can CPG brands differentiate from others beyond price compression and visual marketing at a competitive cost? Fortunately, the wide variety of cannabis strains allows companies to produce different kinds of products.

Forget about offering a new fragrance or flavor, traditional differentiators for CPG products. Think about the therapeutic effect of hemp-derived food and supplements on the human body and pets.

We Build Relationships

CPG brands are often after improving consumers’ retail experience. The low cost of CPG products makes it easy for consumers to switch products, based on price, availability, and recognition. But cannabis can do a lot more for consumers than just improving retail experiences, cannabis, and cannabis-derived products can improve the quality of life of consumers and build a relationship based on trust.

Consumers are more than ever concerned about their health and cannabis can help with that too. By offering products that improve people’s lives, CPG brands can drive purchase consideration and escape from fungibility confinement.

Furthermore, the cannabis industry offers an overabundance of data on consumers’ preferences that is key to understanding their needs and building mutually reinforcing and long-lasting consumer relationships.

Are you interested in understanding the cannabis opportunity for CPG? Join us in April at the Benzinga Cannabis Capital Conference and stay at Miami Beach’s historic Fontainebleau Hotel. Don't miss out on a chance to hear about future market forecasts and worldly advice on investing and finance from those embedded in the cannabis industry. Are you ready?

Buy your tickets HERE before prices go up.

Photo by Hannes Egler on Unsplash. 

MediPharm Labs Corp. (OTCQX:MEDIF) (TSX:LABS) (FSE:MLZ) announced that the shareholders of MediPharm have approved the plan of arrangement under section 192 of the Canada Business Corporations Act, pursuant to which MediPharm will acquire all of the issued and outstanding common shares of VIVO Cannabis Inc. (OTCQB:VVCIF) in an all-equity business combination transaction. Approximately 94.063% of the votes cast at the special meeting of shareholders held on March 21, 2023, were cast in favor of the resolution approving the issuance of the common shares of MediPharm as consideration under the arrangement.

In accordance with the terms of the arrangement agreement dated December 21, 2022 between VIVO and MediPharm, if the arrangement becomes effective, the shareholders of VIVO will receive between 0.2110 of a MediPharm share and 0.4267 of a MediPharm share for each VIVO share held. Upon the completion of the arrangement, existing shareholders are expected to own between 65% and 79% of the combined company resulting from the arrangement and shareholders of VIVO are expected to own between 35% and 21% of the combined company.

Completion of the arrangement is subject to court approvals, and the satisfaction or waiver of other customary closing conditions. The arrangement has been approved by VIVO shareholders at the special meeting of VIVO Shareholders held on March 21, 2023. No VIVO shareholders exercised dissent rights with respect to the arrangement. The Toronto Stock Exchange has conditionally approved the listing of the MediPharm shares to be issued in connection with the arrangement. It is currently expected that the effective date of the arrangement will occur on or about the completion of the first quarter of 2023.

Benzinga's Cannabis Capital Conference Is Back

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo: Benzinga edit with photos by jarmoluk and lindsayfox on Pixabay

Irwin Naturals Inc. (OTCQB:IWINF) (CSE:IWIN) (FRA: 97X) acquired Keta Media, LLC, dba Ketamine Media. Ketamine Media is an advertising company dedicated to raising awareness about the clinical use of ketamine.

This acquisition empowers Irwin Naturals to broaden its presence in the burgeoning ketamine therapy market and offer a diverse array of marketing solutions to support the company's products and services. Through this acquisition, Irwin plans to expedite the establishment of new potential clinic locations and harness Ketamine Media's expertise to enhance utilization rates at its existing and future Emergence clinics.

Klee Irwin, founder and CEO of Irwin Naturals, expressed his enthusiasm, stating, "We are delighted to welcome the Ketamine Media team to the Irwin Naturals family. We believe that acquiring Ketamine Media will propel us to new heights in the ketamine therapy market, as we collaborate to deliver cutting-edge marketing solutions for our clients."

Chris Walden, CEO of Ketamine Media, stated, “We are committed to maintaining the high level of service our clients have come to expect. This deal provides us with growth capital, allowing Ketamine Media to rapidly expand our advisory services, significantly benefiting all our clients. We aim to foster greater collaboration within this emerging sector among local market providers. In our discussions with Irwin Naturals, we discovered shared values and goals, including a mutual commitment to helping our existing clients achieve the outcomes that initially led them to partner with Ketamine Media. We have full confidence in Irwin Naturals' strategic vision to become a leading international brand of psychedelic mental health clinics.”

The total consideration at closing will be paid in cash, including the assumption of certain debts of Ketamine Media.

Benzinga's Cannabis Capital Conference Is Back

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo: Benzinga edit with photo by geralt and sergeitokmakov on Pixabay

 

 

Lucy Scientific Discovery Inc. (NASDAQ:LSDI) has entered into a definitive asset purchase agreement with Wesana Health Holdings Inc. (OTCQB:WSNAF).

Lucy has agreed to acquire intellectual property and related assets for Wesana’s psilocybin and CBD combination investigational therapy, SANA-013, and Wesana’s supply of psilocybin which is sufficient to complete all near-term clinical studies. The aggregate consideration comprises 1 million shares of common stock and $570,000 in cash. The shares will be subject to a lock-up agreement whereby half of the shares will be released 9 months from closing, and other half will be released 14 months from closing. The transaction is also subject to Wesana’s shareholder approval and is expected to close in Q2 2023.

As a result of this acquisition, Lucy will add drug development capabilities to its existing business of psychedelics manufacturing.

SANA-013 is a proprietary combination of psilocybin and CBD being developed for the potential treatment of several mental health/CNS-related conditions, including major depressive disorder, migraine, episodic cluster headaches, and trigeminal neuralgia. This novel combination allows both drugs to act within the brain via complementary pathways. Specifically, SANA-013 is thought to work, by “rewiring” neuron connections in the brain while also inducing a potent anti-inflammatory effect that, together, lead to anti-depressant effects.

As part of the transaction, Wesana’s CEO, Dan Carcillo, will join Lucy’s executive team to help guide the continued development of SANA-013 into first human testing, expected to commence in late 2023.  

“I am thrilled to join Lucy’s senior management team and further my personal mission to find more effective treatments for the tens of millions of individuals suffering from mental health disorders including depression. I am confident the data generated from registrational trials with SANA-013 will align with my individual experience and improvements observed in my personal journey with depression,” stated Carcillo.

Price Action

Lucy Scientific Discovery shares were trading 10.48% higher at $1.37 per share at the time of writing Tuesday morning.

Benzinga's Cannabis Capital Conference Is Back

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference, returns to Miami for its 16th edition. This is the place where DEALS GET DONE, where money is raised, M&A starts, and companies meet investors and key partners. Join us at the Fontainebleau Miami Beach Hotel in Florida on April 11-12. Don’t miss out. Secure your tickets now. Prices will surge very soon.

Photo: Benzinga edit with photos by Tumisu and sergeitokmakov on Pixabay

In light of the latest news regarding the DEA’s telehealth regulations and the closing of two renowned ketamine clinics with facilities in the U.S., Benzinga had the opportunity to interview Jay Godfrey, co-founder of the NYC-based ketamine-assisted therapy center Nushama. 

This is the second article of a three-part series, you can find the first story of the series here. 

When Benzinga asked whether Nushama is considering entering the telehealth space, Godfrey says the short answer is no. 

“The intermediate answer is: Research thus far has shown that the greatest efficacy and safety is achieved under medical supervision in-clinic. End of story,” he said.

Nushama's protocol works for in-clinic ketamine therapy. Offered for people with a variety of mood disorders, the most common causes that take people to the center are depression and anxiety. 

Further, the recent partnership with major psychedelics company Awakn Life Sciences (OTC:AWKNF) gives Nushama an NYC-exclusive license to the very successful KARE protocol designed for the treatment of Alcohol Use Disorder (AUD) with which it has begun dosing the first patient last week.

Nushama’s viewpoint is that all of these indications are sourced from unresolved trauma, acting as symptoms of the condition. “Ultimately, what is different about this particular type of treatment and work, is that we are addressing the underlying issue and the underlying trauma,” Godfrey told Benzinga.

With 70% to 80% of patients showing significant improvement, what separates Nushama from many other clinics, says Godfrey, is that they offer integration. He added that the therapy component is a necessity. “Ten percent of it is related to the actual molecule, and 10% of it is the diagnosis. But the vast majority of what we do, that 80%, surrounds the preparation and integration,” Gofrey explained.

While at the moment Nushama does not get involved with people doing ketamine therapy either on their own recreationally or at home, Godfrey says that most people who go into the clinic have tried everything. 

“Not necessarily psychedelics, but have tried antidepressants or SSRIs, or anti-anxiety medications or benzodiazepines, they have tried therapy, and they are effectively treatment-resistant.”

A small subset of patients has gone to Costa Rica or Peru or Colombia and done ayahuasca, or to Jamaica and done psilocybin, yet they ultimately go to Nushama “because there is something unresolved.” 

This, for Godfrey, “underscores the absolute necessity and importance of proper preparation and integration, which they did not have when they went to these other places.”

Treatment-Resistant Diagnosis

All patients at Nushama have a diagnosis. Some are diagnosed with depression and are not treatment-resistant, yet many of them are effectively treatment resistant - meaning they have attempted two separate interventions with existing medications with no success.

“So the bar is pretty low for what is treatment-resistant,” Godfrey says, adding that the clinic founders share the belief that there needn’t be a wait until people are treatment-resistant. 

“That is a very sad commentary about our society if we have to wait for people to look into these treatments as a last resort. We don’t want them to get to the point where it is life or death before they come to see us. Maybe one day this will change and become preventive medicine, but for the time being everybody has a diagnosis.”

After Treatment, Continuing Care

Additionally, Godfrey says, they don’t want people to rely on ketamine (now), or on MDMA or psilocybin (whenever they come). “We want them to rely on themselves and take responsibility.”

That is why, after the 3-6 week ketamine treatment protocol is over, Nushama offers its members free community activities such as weekly integration circles or events involving holotropic breath, sound meditations or sound baths or ceremonies -"a lovely way for people to understand that they can get into their journeys, in that consciousness, without the meds,"- and for those in need, talk therapy. 

There are some people that do go back for one, or in some cases two or three boosters or refresher sessions. That usually takes place one to three months after the main treatment.

“But ultimately the idea is to take people and change the relationship to the underlying trauma,” Godfrey said. “So many people, whether it is after the sixth and they are done, or whether they need a couple more, our hope and the objective here is to shift them from a consciousness of blame – because something has happened to all of us - into a space of responsibility.”

Interestingly, Godfrey says that Nushama might recommend a patient not to continue with the treatment if it is somewhat made clear that those people are not working towards integrating the insights from their psychedelic journeys.

“We have a lot of demand, and so if somebody does not want to do the work, there is somebody waiting to take that spot. And psychedelics, including ketamine, are not a panacea. For those who come in with the expectations of a panacea or that they are going to go from treatment-resistant to Mahatma Gandhi, part of the preparatory process is really helping to manage those expectations,” Godfrey told Benzinga.

Now Read: Major Ketamine Clinics Chain Decides Not To Pursue Acquisition Deal

Photo: Benzinga edit with photo by Sonis Photography and Hananeko_Studio on Shutterstock and Nushama

The global beauty industry currently generates $100 billion in revenue, and by 2023, consumers in the United States are projected to spend almost $24.5 billion on beauty and cosmetic products online. But consumers are looking for something else, beyond the looks.

Consumers are adopting a holistic approach to personal care. The self-care sector will continue to expand as 68% of consumers are continually seeking self-improvement in beauty products, that cannabis can provide. From improving sleep to acting as an anti-inflammatory, cannabis components contribute to holistic well-being.

Furthermore, cannabis can contribute to differentiating beauty lines in crowded e-commerce platforms and Benzinga came up with a list of reasons why cannabis is a great opportunity for CPG beauty brands.

In addition, Benzinga will be featuring the most influential individuals and organizations in the cannabis industry during the next Benzinga Cannabis Capital Conference, April 11 – 12, 2033 at the historic Fountainbleu Hotel, in Miami Beach. Meet, network, and find the next business opportunity to differentiate your CPG beauty brand and provide value to consumers and investors.

Beauty And Wellness In The Cannabis Era

Beauty, Now Personalized

According to McKinsey & Company, 71% of consumers expect companies to deliver personalized interactions and 76% get frustrated when this doesn’t happen.

Unlike Aloe Vera or other popular medicinal plants, cannabis comes in many shapes and can deliver different therapeutical benefits. Terpenes, cannabinoids, and flavonoids are therapeutical and medicinal components that allow brands to innovate their products while focusing on niche therapies and specific medical needs.

Community-Building

The cannabis industry already has a vibrant community of enthusiasts and medical users that can provide leads on how to approach your consumer base.

Although educational resources for the consumer are widely available, not many CPG brands have ventured yet into the industry.

This represents an opportunity to reach an emerging vertical and consolidate CPG products as reliable, consistent, and safe for consumption.

Consumers Want Sustainable Products

Consumers are increasingly expecting companies to reflect their sustainable principles. Environmentally-conscious consumers are selecting brands based on their ecological footprint. In response to this trend, CPG brands are transitioning from unsustainable practices, including changes in packaging, manufacturing, employment policy, and distribution.

Consumers' choices are increasingly driven by the social and environmental impact of their purchase and cannabis can attract them. And in fact, consuming cannabis-derived products that are sustainably sourced can have a positive impact on the environment. 

The cannabis plant can capture carbon dioxide that pollutes the environment and fix it in the soil where it will be metabolized by the solid food web. Offer consumers something beyond the value of beauty, try cannabis, and drive consumer attention to values that also matter such as sustainability, health, and wellness.

Join us in April at the Benzinga Cannabis Capital Conference and stay at Miami Beach’s historic Fontainebleau Hotel. Don't miss out on a chance to hear about future market forecasts and worldly advice on investing and finance from those embedded in the cannabis industry. Are you ready?

Buy your tickets HERE before prices go up. Book your room HERE.