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Codebase Forms Subsidiary to Invest in Mushrooms and Psychedelics
Jan. 23, 2020 05:10AM PST
Blockchain Investing
Codebase Ventures announces that it has formed a wholly-owned subsidiary named Titan Shrooms & Psychedelics Inc.
Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE, FSE:C5B, OTCQB:BKLLF), an investment company, announces that it has formed a wholly-owned subsidiary named Titan Shrooms & Psychedelics Inc. to spearhead its investments into the exciting, emerging market for mental health treatments using mushrooms and psychedelics.
“Mushrooms and psychedelics fit our mandate as an emerging sector with tremendous potential for those suffering from certain mental health issues, as was well documented on 60 Minutes at the end of December,”1 said Mr. Brian Keane, Director. “We are encouraged by the fact that the FDA has granted breakthrough therapy status for trials into psilocybin, the naturally occurring psychoactive compound in psychedelic mushrooms. This bodes well for innovative therapies that can help millions of people with mental health conditions ranging from treatment resistant depression to anxiety and addiction – and there are indications that the treatments could become approved at some point in 2021 as reported in Rolling Stone.”2
The Company’s subsidiary Titan Shrooms & Psychedelics will focus on identifying investment opportunities that meet with Company’s investment mandate. The Company may invest up to $2 million CAD in such opportunities. CODE is an investment company and its investments focus upon new technologies or innovative and emerging industries that have the potential to provide shareholders with significant growth.
Titan Shrooms & Psychedelics is actively seeking investment opportunities at the forefront of the mushroom and micro-dosing psychedelic healthcare sector. Codebase is not averse to taking management positions as it relates to companies in which they are investing.
2https://www.rollingstone.com/culture/culture-news/psilocybin-legal-therapy-mdma-753946/
About Codebase Ventures Inc.
Codebase Ventures Inc. is an investment company, led by technology and business experts who invest early in great ideas in sectors that have significant upside, including the cannabis sector. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms, protocols and innovations – not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Brian Keane, Director
Investor Relations
Telephone: 1 (778) 806-5150
E-mail: IR@codebase.ventures
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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