Connect with us

Business

Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) Takes Over Nova Mentis Biotech Corp And Add Synergies To Its Cannabis Assets In The Wellness And Health Sector

Published

on

Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) gained access to the psilocybin by acquiring Nova Mentis Biotech Corp. The takeover allows Liberty to benefit from the net cash balance of CAD 1.2 million of Nova. Liberty issued common shares of 115 million each at $0.05 for the transaction completed on June 22, 2020. With considerable expertise in the health sector, a strong R & D team will strengthen the fortunes of Liberty.

Strengthens cannabis assets

The acquisition strengthens the licensed and operating cannabis assets of Liberty in the health/ wellness segments. It also allows Liberty to create an IP because Nova focuses on studying psilocybin’s anti-inflammatory effects in under-explored health areas like diabetes and obesity.

The market for diabetes drugs will reach $78 billion

Over 10.5% of people in the US are diagnosed with diabetes. Nova can address the growing need for curing diabetes. The average monthly spending on diabetes care in the US is around $360. Causes of obesity and diabetes include access to nutritionally void and inexpensive food options and sedentary lifestyles. The market for diabetes drugs worldwide expects to reach $78 billion by 2026 from $48 billion in 2018.

Prospects of psilocybin

Psilocybin holds excellent prospects to treat disorders like mental disorders. Nova focuses on health conditions that are hard to cure. The cohort overlaps health conditions, diabetes, and obesity.

Nova mainly focuses on developing therapies to target the gut-brain axis and modulate inflammation. It will utilize the unique properties of innovative formulation psilocybin to treat behavioral and psychological factors in comorbid depression and obesity.

Doug Macdonell resigns from the board

Doug Macdonell relinquished his post from the board. Liberty seeks to appoint a suitable person to the director board.

Just Kush initiates first crop of plants

Just Kush Enterprises Ltd, a subsidiary of Liberty, initiated first crop planting. The company will upgrade the facility to utilize full capacity by adding three lots of the plants that hold a dominant hybrid strain with over 20% of THC content. Just Kush will market the hybrid strain under its brand.

QA person of Just Kush, Robert Jackman, said the company decided to select Kush dominant strains for the first crop after examining several cultivars.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

INDUSTRIAL HEMP19 hours ago

Generex Biotechnology Corporation (OTCMKTS:GNBT) Submits Pre-IND For Ii-Key-SARS-CoV-2 Vaccine To The FDA

Post Views: 121 Generex Biotechnology Corporation (OTCMKTS:GNBT) submitted a Pre-IND update to the FDA outlining its proposed Phase I/II clinical...

Business4 days ago

cbdMD Inc. (NYSEAMERICAN:YCBD) Protecting Its CBD Technologies Through Patents and expands Partnership With Bellator MMA

Post Views: 280 cbdMD Inc. (NYSEAMERICAN:YCBD) announced an extension of the exclusive Official CBD marketing partnership with ViacomCBS’s wholly-owned subsidiary...

Business4 days ago

CLS Holdings USA Inc (OTCMKTS:CLSH) Increases Revenues In June 2020 By 5.35%

Post Views: 185 CLS Holdings USA Inc (OTCMKTS:CLSH) posted a growth of 5.35% YoY to $1.102 million in June 2020....

Business5 days ago

Canopy Rivers Inc.’s (OTCMKTS:CNPOF) Portfolio Companies Expanding Their Reach In Canada And The US

Post Views: 238 Canopy Rivers Inc.’s (OTCMKTS:CNPOF) three portfolio companies recently announced plans to expand their product offering for recreational...

Business5 days ago

AgraFlora Organics International Inc. (OTCMKTS:AGFAF) Processes Around 1,000KG Of CBD Crude Oil From 10,000Kg Of Hemp

Post Views: 304 AgraFlora Organics International Inc. (OTCMKTS:AGFAF) Toronto-based Sustainable Growth Strategic Capital Corp subsidiary in partnership with MicroC45 produced...

Business6 days ago

Marimed Inc (OTCMKTS:MRMD) Retires $7.3 Million Short-term Debt: Robust Sales Of Adult-Use Programs Improves Cash Flow

Post Views: 171 Marimed Inc (OTCMKTS:MRMD) restructured its debt to provide financial flexibility at reduced interest rates. Marimed replaced the...