Mind Cure Signs LOI to Acquire an Ownership Interest in Psychedelic Treatment Center ATMA, Selected by Section 56 Exempt Patient for Psilocybin Therapy
January 12th, 2021
Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) (“Mind Cure”or the “Company”) is pleased to announce the signing of a non-binding letter of intent (the “LOI“) for strategic investment and commercial cooperation with ATMA Journey Centers Inc. (“ATMA“), a Calgary-based organization. ATMA is the first commercial treatment center in Canada to announce providing psychedelic-assisted therapy for a section 56 exempt patient. The LOI is intended to help Mind Cure secure an equity position within ATMA, empowering the Company with access to a global release strategy for iSTRYM, as well as international locations for translational research on novel molecules and treatment protocols.
“ATMA’s clinicians possess a proven track record of advocacy and innovation driving toward the therapeutic benefits of psychedelic medicine for patients in the treatment of mental health and wellness. Mind Cure is extremely excited to join ATMA in the renaissance that is disrupting mental health care by partnering with one of the pioneers in the therapeutic psychedelics industry,” said Kelsey Ramsden, President & CEO, Mind Cure. “With Mind Cure’s therapeutic tool, iSTRYM, along with ATMA’s pivotal achievement as the care provider for Canada’s most recent section 56(1) exempt patient, mental health care in Canada is making history. We are thrilled to work with the best-in-class to drive our focus on accelerating our research and technology platforms.”
Mind Cure’s partnership with ATMA is an exciting opportunity for researchers and therapists to participate in each of Mind Cure’s research programs focused on pain, neuroregeneration, migraines, and cluster headaches. The proposed investment will facilitate the syndication of Mind Cure’s psychedelic drug protocols and the use of Mind Cure’s proprietary technology, iSTRYM, to optimize treatment for ATMA clients.
The deployment of capital will also advance speed and scale for data enrichment of iSTRYM, providing the AI-driven platform with access to patient data as ATMA targets domestic and international healing and treatment centers.
“Psilocybin-assisted therapy offers healing and understanding that is unmatched by traditional methods. Patients dealing with end-of-life anxiety, pain, depression, trauma, and addiction have been at the mercy of ineffective and underwhelming treatments for much too long. The resources are here, and we are extremely grateful to be at the frontlines of this world-changing, innovative, and extremely alleviating solution, to help bring peace to sufferers,” said David Harder, co-CEO, ATMA Journey Centers Inc. “We are witnessing an inflection point for mental health treatment as the commitment to wellness in Canada takes a huge step forward.”
Pursuant to the LOI, the parties intend to negotiate the terms of definitive agreements (the “Definitive Agreements“), which will provide for, among other things an initial $500,000 investment by Mind Cure in ATMA, participation by Mind Cure in ATMA’s future financings, and the exclusive use of iSTRYM throughout ATMA’s business. There can be no assurance that the Definitive Agreements will be entered into or that the investment or commercial transactions will be completed on the terms proposed in the LOI or at all.
About ATMA Journey Centers Inc. and SYNTAC Institute
ATMA is a private healthcare company with the mission of delivering effective and innovative healing and transformative experiences that awaken the inner healer and promote a deeper connection with the self, with others, and with the beauty of the world. ATMA is the first private sector service provider in Canada to announce psychedelic-assisted therapy provision under the approval of Health Canada’s Section 56(1) exemption, which will allow ATMA to provide psilocybin-assisted therapy to those seeking psychedelic assisted therapy.
ATMA’s founding members, David Harder, Greg Habstritt, and Vu Tran, also founded SYNTAC Institute, a non-profit organization with the mission of bringing the healing and transformative power of psychedelic medicine and psychedelic-assisted therapy to Canadians. SYNTAC has been an influential participant in the Canadian psychedelic medicine industry and operates Catalyst Presents, a series of conferences and summits in Canada focused on psychedelics.
About Mind Cure Health Inc.
Mind Cure exists as a response to the current mental health crisis and urgent calls for effective treatments. Mind Cure believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
Mind Cure is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. Mind Cure is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
On Behalf of the Board of Directors
Kelsey Ramsden, President & CEO
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