PSYENCE GROUP AND PURE EXTRACTS SIGN JV (LOI) FOR THE EXTRACTION OF PSILOCYBIN

PSYENCE GROUP AND PURE EXTRACTS SIGN JV (LOI) FOR THE EXTRACTION OF PSILOCYBIN - RICH TV LIVE - March 31, 2021 - Psyence Group Inc. (CSE: PSYG) (“Psyence”), and Pure Extracts Technologies Corp . (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) (“Pure Extracts”) are pleased to announce the signing of a Letter of Intent (“LOI”) to form a Joint Venture (the “JV”) to develop superior techniques for the extraction of psilocybin from psychedelic mushrooms, as well as the development of advanced formulations containing psilocybin for the long-term treatment of psychological trauma and its mental health consequences. Psyence is one of the world’s first psychedelic mushroom companies operating a federally legal commercial cultivation and extraction facility in Southern Africa and possessing an experienced global team of doctors and scientists striving for breakthroughs in palliative care, neurology, neuroscience and drug development. Pure Extracts is a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector with a state-of-the-art processing facility and an application submitted to Health Canada for a Dealer’s Licence under the Controlled Drugs and Substances Act (CDSA). The companies plan to maximize the use of their combined infrastructure and networks in order to attain near-term milestones. Pure Extracts has a strong Canadian network of psychedelic mushroom experts, from cultivation to research & development, including Dr. Alexander MacGregor and his team at the Toronto Institute of Pharmaceutical Technology (TIPT), while Psyence’s network in South Africa, Lesotho and Jamaica has the expertise for the JV to rapidly develop natural psychedelics and novel drug delivery systems for patients throughout the world. Additionally, the Psyence team is experienced in structuring and running clinical trials and a near term goal will be to participate in a Canadian based, human clinical trial. Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are excited about working with the deeply qualified science team at Psyence, one of only a handful of companies in the world operating a vertically integrated, federally licensed, psychedelic mushroom facility.” Dr. Justin Grant, Chief Scientific Officer of Psyence, commented, “This partnership with Pure Extracts will facilitate the importation of our standardized psychedelic mushrooms into Canada, giving us the opportunity to further optimize extraction methods and produce advanced products needed for safe clinical research. Our companies share the vision of providing the highest quality and most innovative psilocybin products for Canada, as evidenced by our facilities being constructed to GMP standards, and our commitment to rigorous scientific and clinical research for the development of transformational treatments for mental health disorders, with a particular focus on oncology palliative care.” About Psyence Group The Psyence Group sets the global standard for natural psychedelics. The executive team have international experience in the business of science and medicine and include global experts in palliative care, neurology, neuroscience and drug development. Psyence has built and operates one of the first federally licensed commercial psilocybin cultivation and production facilities. Psyence is pioneering the use of natural psilocybin for the long-term treatment of psychological trauma and its mental health consequences. Our global footprint spans multiple legal jurisdictions, through the provision of advanced models of psychedelic therapy. #pureextracts #psyencegroup #richtvlive http://www.richpicksdaily.com Disclaimer RICH TV LIVE INC. company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RICH TV LIVE reports company profiles or other investor relations materials and presentations are subject to change. RICH TV LIVE and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time. RICH TV LIVE INC. sponsored $2,000 CAD for digital video services. Investing is inherently risky. RICH TV LIVE is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print. We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov/Canadian CSA https://www.securities-administrators....