Havn Life Sciences Signs LOI to Research and Develop Medical Psilocybin with Jamaican Company Hypha Wellness

Rhea-AI Summary

Havn Life Sciences (CSE:HAVN, OTC PINK:HAVLF) has signed a letter of intent with Hypha Wellness Jamaica Psilocybin to collaborate on the research and development of standardized psilocybin products. This partnership aims to enhance the production of medical psilocybin, crucial for addressing PTSD and other trauma-related disorders. The company is also establishing a production facility in Jamaica, which will help optimize production methods and potentially create a reliable supply chain for researchers globally. Havn Life's commitment includes supplying safe, quality-controlled psilocybin medicine.

Positive

• Collaboration with Hypha Wellness Jamaica to develop standardized psilocybin products.
• Establishment of a production facility in Jamaica to enhance production methods.
• Focus on addressing PTSD and trauma-related disorders through innovative formulations.

Negative

• None.

Havn Life believes operations can advance its business plan and potentially accelerate production of naturally-derived psilocybin for global medical research.

VANCOUVER, BC / ACCESSWIRE / March 25, 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, has entered into a letter of intent (LOI) with nutraceutical company Hypha Wellness Jamaica Psilocybin (HWJP) towards jointly researching and, subject to compliance with all applicable laws and regulations, producing standardized powdered homogenizedpsilocybin mushroom active pharmaceutical ingredient (API) products.

Headquartered in Kingston, HWJP is focused on the cultivation, extraction, and manufacturing of nutraceuticals. They are uniquely positioned to explore and optimise the therapeutic and commercial potentials of psilocybin and other fungi for local and international markets. This collaboration is expected to further Havn Life's goal of developing a supply chain for regulated production of medical psilocybin. Working with Veterans and thought leaders in the military [NTD: ensure this statement is still accurate re working with Veterans], Havn Life is developing innovative formulations to support future clinical trials addressing PTSD recovery and other trauma related disorders, empowering people to connect to their potential and thrive.

Havn Life also notes that it is developing a production facility in Jamaica to produce psychedelic mushroom API. The Company is also actively engaged in pursuing additional opportunities to collaborate with the scientific and business communities in Jamaica.

Havn Life believes that setting up operations in Jamaica will advance the Company's ability to optimize standardized quality controlled production methods for naturally-derived psilocybin, accelerating its overall business plan. Collaborating with HWJP also brings local knowledge and insight to the Company's operation, potentially paving the way towards the development of functional standards across the industry.

"Growing regulated psilocybin mushrooms for medical research is a very complex process. Our Jamaican collaborations are expected to allow us to optimize and refine our processes faster than we could elsewhere. Most importantly, they're expected to better facilitate Havn Life's commitment to helping patients, specifically those participating in observational studies in Jamaica," says Dr. Ivan Casselman, Chief Psychedelic Officer of Havn Life. "Havn Life's work in Jamaica is aimed at furthering our mandate of supplying safe, quality controlled, psilocybin medicine to researchers and patients around the globe. We want to supply as many researchers as we can with naturally derived compounds and this partnership will bring us one step closer to our goal of building an international psychedelic supply chain framework."

For HWJP, the partnership represents a major milestone in its work toward facilitating industry growth and building an innovative framework for creating and distributing Jamaican nutraceuticals and pharmaceuticals across the island and around the world.

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 contemplated completion of the Acquisition, 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 be completed as contemplated, or at all. 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/637365/Havn-Life-Sciences-Signs-LOI-to-Research-and-Develop-Medical-Psilocybin-with-Jamaican-Company-Hypha-Wellness

FAQ

What is the purpose of Havn Life's collaboration with Hypha Wellness Jamaica?

The collaboration aims to research and develop standardized psilocybin products to support medical research and treatment for conditions like PTSD.

How will Havn Life's production facility in Jamaica benefit its operations?

The facility will optimize production methods and help establish a reliable supply chain for psilocybin, advancing the company's goals.

What are the goals of Havn Life Sciences regarding psilocybin?

Havn Life aims to produce safe, quality-controlled psilocybin medicine for researchers and patients globally.

What is the stock symbol for Havn Life Sciences?

Havn Life Sciences is traded under the stock symbol HAVLF on the OTC markets.