Havn Life Sciences Granted Section 56 Exemption to Begin Scientific Work With Psilocybin
September 11th, 2020
Havn Life Sciences Inc. (CSE:HAVN) (the “Company” or “Havn Life”), a biotechnology company focused on unlocking human potential using evidence-informed research, and developing standardized psychoactive compounds derived from plants and fungi, is pleased to announce that, on August 31, 2020, its wholly-owned subsidiary, HAVN Research Inc., was granted a Section 56 exemption by Health Canada, pursuant to which it now has the ability to possess certain amounts of pure psilocybin for scientific purposes, specifically for the research and development of quality control methods.
Havn Life intends to immediately begin work on experiments with the objective of developing a set of methods for the safe, standardized, quality-controlled production of medical compounds extracted from the Psilocybe spp. mushroom.
“We are thrilled to be among the first to receive permission from the Canadian government to begin work with psilocybin”, stated Tim Moore, Co-CEO of Havn Life. “This important milestone will enable Havn to begin working toward creating method-validation and analytical chemistry to standardize methods for quality control and testing of these substances.”
“Having access to compounds is essential in order to further research in the medical field. This is the start of our journey into developing standardized protocols to ensure that as this industry grows, we understand efficient new methodology”, stated Susan Chapelle, Havn Life Co-CEO, noting the advent of new technology and variables in extraction have changed significantly in the last decade.
The Company also announces that it has granted an aggregate of 2,135,000 stock options and 500,000 Restricted Share Units under its share-based compensation plan (the “Plan”). The stock options are exercisable at a price of $0.65 CDN for a period of 5 years, and the stock options and Restricted Share Units are subject to the terms of the Plan. The Company also issued 200,000 common shares in respect of a debt settlement.
On Behalf of The Board of Directors
Susan Chapelle & Tim Moore
About Havn Life Sciences Inc.
Havn Life Sciences is a biotechnology company on a mission to unlock human potential using evidence-informed research. The Company is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi, and the development of natural health care products from non-regulated compounds. Learn more at: havnlife.com and follow us on Facebook, Twitter and Instagram.
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