Vancouver, British Columbia – TheNewswire – September 07, 2021 – Blackhawk Growth Corp. (CNSX:BLR.CN) (OTC:BLRZF) (Frankfurt:0JJ) (the “Company” or “Blackhawk”) is pleased to provide an update on its most recent investment, MindBio Therapeutics Pty Ltd. (“MindBio Therapeutics”), a clinical stage drug development company conducting research into microdosing and medicinal use of psychedelic medicines to treat a range of debilitating mental health conditions.
MindBio Therapeutics reports that in September 2021, 50% of the phase 1 safety trial in healthy patients will be completed and they will have collected complete safety data on the study participants. Within the next 6 months, MindBio Therapeutics will complete the remainder of phase 1 trials microdosing LSD.
In the first clinical trial of its kind, participants are prescribed microdoses of LSD to take home in much the same way they would take any other over the counter medicine. This unique clinical trial aims to demonstrate safety and efficacy of use of microdoses of psychedelic drugs for a medicinal purpose in a community setting. It is expected that these “community” safety features demonstrated during the clinical trials will be used to support the commercial advancement of the medicines as they move through the regulatory and approvals process.
MindBio Therapeutics has numerous additional trials approved or planned.
—Phase 2 Clinical Trials have also just been approved with microdosing of LSD in late stage cancer patients.
—MindBio Therapeutics has also three phase 2 clinical trials in planning where microdoses of LSD will be tested against depression, chronic pain and mild cognitive impairment.
A recent peer review has shown that MindBio Therapeutics is one of very few publicly reported psychedelic companies involved in both Phase 1 and Phase 2 clinical trials. MindBio Therapeutics is pioneering the development of micro-dose formulations and a range of technology and artificial intelligence applications to ensure the safe dosage, use and administration of psychedelic medicines in the community. Early indications show that LSD is tolerated well in micro-doses and has a lower side effect profile than the currently prescribed anti-depressant drugs.
Blackhawk Grants Incentive Stock Options and Restricted Shares Units
Blackhawk’s board of directors has granted 4,500,000 incentive stock options to purchase common shares of the Company to certain employees and consultants of MindBio Therapeutics as well as 2,000,000 restricted share units. The options vest on the date of issuance and are exercisable until September 7, 2023 at an exercise price of $0.55 per option share. The restricted share units vest and will convert into common shares on January 8, 2022, provided the holder remains involved with the Company at the time.
About Blackhawk Growth
Blackhawk is an investment holding looking to create substantial value for its shareholders through the acquisition and development of high growth companies. It has focused its investments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio of companies includes Sac Pharma, LeichtMind Clinics, Noble Hemp, Spaced Food, NuWave Foods, and MindBio Therapeutics. Blackhawk continues to bring its investments to cash flow and is growing at an exceeding pace.
The Company diligently posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCs4f2tt3yAvOGhNLjgNOy-A
For further information please contact:
Frederick Pels, Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statement
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 future operations of MindBio Therapeutics Pty Ltd. 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.