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Global Health signs memorandum of understanding with Cultivarium


 

NOT FOR DISSEMINATION IN THE UNITED STATES

 

Vancouver, BC, November 9, 2021 - Global Health Clinics Ltd. (CSE: MJRX / FRANKFURT: L002) (“Global Health” or the “Company”) is pleased to announce a memorandum of understanding with Cultivarium. The partnership will allow Global Health Clinics’ Wonder Scientific division to research and develop psilocybin products to become a supplier of clean-start psilocybe genetics for psychedelics research and novel drug development sectors. This Company is focused on developing new products to supply clinical trials, regulated markets and resellers, as well as creating custom active pharmaceutical formulations and contract manufacturer quality agreements.

 

Wonder has established a genetic library of disease-free, single genotype cultures of certain Psilocybe species, including P. cubensis, P. aztecorum, P. semilanceata, and P. cyanescens (the “Mycelial Library'). Wonder intends to conduct research to optimize culture media for future mass scale production.

 

Cultivarium is a privately-owned cannabis micro-cultivation, research site, and has (i) the expertise required to preserve Wonder's Mycelial Library such that it maintains a disease free single genotype culture of each mycelia accession (the "Mycelia Maintenance"), and (ii) the ability to build and supply an appropriate facility from which Wonder, or an affiliate thereof, may apply for the License (the “License Application") and conduct the Research.

 

The agreement allows Wonder Scientific to partner with renowned horticulture expert David Weaver who is associated with University of Guelph. David Weaver is the co-founder of Cultivarium and developed the Cannabis Production course as part of the Horticulture Diploma Program at the University of Guelph-Ridgetown Campus and is a featured Cannabis expert on CBC News. The first undergraduate diploma in-person course on Cannabis in Canada.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

GLOBAL HEALTH CLINICS LTD.

Jatinder Dhaliwal

Chief Executive Officer

 

Global Health Clinics Ltd.

400-837 West Hastings Street

Vancouver, BC V6C 3N6

Tel: 1.855.537.6272

 

For further information, readers are encouraged to contact Jatinder Dhaliwal, Chief Executive Officer, at 1.855.537.6272

 

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 press release, which has been prepared by management.

 

Cautionary Note Regarding Forward-Looking Information

 

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Transaction, including with respect to the closing thereof and the Company’s ability to provide accessible resources for mental health and access to a community of professionals for patients across Canada upon completion of the Transaction, as well as the intentions, plans and future actions of the Company. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company, including with respect to assumptions about the Company’s ability to obtain the required approvals for the Transaction. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company provides forward looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

 

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