Havn Labs Jamaica Facility Now Fully Operational

Rhea-AI Summary

Havn Life Sciences has launched production at its new mycology lab in Jamaica, partnering with Hypha Wellness for psilocybin product development. The facility aims to produce naturally-derived psilocybin for clinical studies by Q4 2021, taking advantage of Jamaica's favorable legal environment for psychoactive mushrooms. Led by experienced experts, the operation seeks to foster partnerships within Jamaica's medicinal psilocybin industry, promoting sustainable practices and evidence-based research.

Positive

• Operational mycology lab commenced production in Jamaica.
• Partnership with local producer Hypha Wellness enhances resource access.
• First psilocybin products expected for clinical trials by Q4 2021.
• Experienced team leading operations with a commitment to sustainable practices.

Negative

• None.

The Company has started production of its first grow with local partner Hypha Wellness

VANCOUVER, BC / ACCESSWIRE / May 4, 2021 / Havn Life Sciences Inc. (CSE:HAVN)(OTC PINK:HAVLF)(FSE:5NP) (the "Company" or "Havn Life"), a biotechnology company pursuing standardized extraction of psychoactive compounds and the development of natural healthcare products, is pleased to announce that it now has a fully operational mycology lab and production facility in Jamaica.

By operationalizing the facility, the Company's research division, Havn Labs, has begun production alongside local partner Hypha Wellness, a Jamaican-based food and psychoactive mushroom producer. This puts the Company on track to deliver naturally-derived psilocybin products to clinical studies and researchers by Q4 2021.

Jamaica is an ideal site for the new facility, as it has very favourable regulations for the production of psilocybin-containing mushrooms. At its new facility, Havn Labs will develop optimized, sterile growing criteria for psilocybe mushrooms. Chief Psychedelic Officer Dr. Ivan Casselman and Chief Research Officer Dr. Alexzander Samuelsson bring decades of experience in plant medicine, and will lead the operation with the support of local staff.

In addition, the Havn Labs team in Jamaica has been interfacing with local government officials to help advise on many different aspects of mycology. "We want to build strong partnerships with government, industry, and academics here in Jamaica," noted Dr. Ivan Casselman, Havn Life's Chief Psychedelic Officer. "The Jamaican psilocybin mushroom industry has a lot of potential, so it is important for our team to help support and build a sustainable industry here. Over the last 3 months, we have been meeting with several key stakeholders to develop collaborative relationships. We are very excited to further develop these relationships and help build the Jamaican medicinal psilocybin mushroom industry."

By taking a multidisciplinary, multi sector approach to promoting the psychedelic industry in Jamaica, Havn Labs is signalling its commitment to sustainable, evidence-based, and high quality extraction of psychoactive compounds. With production underway, the Company takes a significant step forward in making these compounds available for research that can unlock human potential.

On Behalf of The Board of Directors

Tim Moore
Chief Executive Officer

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, Instagram, and Youtube

Contact:

Investor Relations: ir@havnlife.com 604 687 7130
Media: savi@emergence-creative.com 647 896-8078

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, such as statements regarding the benefits of the Acquisition, the intended use and benefits of the Facility, the ability of the Facility to facilitate an expanded product portfolio with strong revenue generation potential, expand ability to enter new NHP categories and reduce third party manufacturing burden, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements reflect management's expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct, nor that the Acquisition will provide the Company the expected benefits, that the Facility will be utilized as intended, or at all, that the Facility will be able to facilitate an expanded product portfolio with strong revenue generation potential, expand ability to enter new NHP categories and reduce third party manufacturing burden. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

The CSE has not reviewed, approved or disapproved the content of this press release

SOURCE: Havn Life Sciences Inc.

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https://www.accesswire.com/644250/Havn-Labs-Jamaica-Facility-Now-Fully-Operational

FAQ

What is Havn Life Sciences' recent development in Jamaica?

Havn Life Sciences has started production at its mycology lab in Jamaica, in partnership with Hypha Wellness.

When will Havn Life's psilocybin products be available for clinical studies?

The company expects to deliver psilocybin products to clinical studies by Q4 2021.

What expertise does Havn Life bring to its new facility in Jamaica?

The facility is led by experts with decades of experience in plant medicine, focusing on sustainable psilocybin production.

Why is Jamaica a suitable location for Havn Life's mycology lab?

Jamaica has favorable regulations for the production of psilocybin-containing mushrooms.

What is the aim of Havn Life's new mycology lab?

The lab aims to promote sustainable practices and quality-controlled extraction of psychoactive compounds.