The Cannabis Administration and Opportunity Act Would Open the Doors for U.S. Marijuana Businesses

 

Legalization of marijuana (cannabis, THC, pot) for medical purposes or recreational use has been rapid in the U.S. — Eighteen states have passed full legalization, and 37 permit medical use or study. The growing public endorsement suggests broad support for permissive cannabis laws. Still, that support hasn’t garnered high enough numbers of legislators in Washington to match the decriminalization and permissiveness of even the 37 states that permit only medical use.

 

Turning Point?

It’s expected that today (July 14), the Senate Majority Leader (Chuck Schumer), the Finance Chairman (Ron Wyden), and a New Jersey Senator (Cory Booker) will present a discussion draft of their marijuana legalization bill at a press conference. The release of this draft may heighten national discussion and provide a tailwind to the hopeful industry.

The bill will be called The Cannabis Administration
and Opportunity Act and invites the long-anticipated move to delete marijuana from the federal list of controlled substances. The bill would also define federal tax and overriding regulation of marijuana on the federal level, leaving room for states to implement and enforce their own laws, presumably not unlike alcohol or prescription medications. This nod to states’ rights to govern their own citizenry would include a state’s ability to not allow legal marijuana use within their borders. The bill would also help states by establishing a wide range of federal research into concerns such as “drugged driving”  and the impact cannabis has on brain function. These measures would collect data about traffic deaths, violent crime, and public health concerns that are not yet understood.  

 

 

Provisions

The original bill is expected to also include provisions that include three grant programs designed to help disadvantaged individuals, and those hurt by years of strict drug laws. This would include expungements of federal non-violent cannabis offenses. States and cities would also be required to enact expungement programs to receive any grant funding created by the bill.

The bill is expected to include verbiage that reassures the federal banking system that serving cannabis companies on banking basics would not put them in jeopardy. It could also propose removing the 280E tax that has been a drag on profitability and the subject of court cases. The proposed bill could also provide specifics for companies that grow, manufacture, or distribute marijuana in the U.S. to list on U.S. stock exchanges.

Senator Schumer has indicated he hopes to enact the legislation by April 2022. However, it does not appear that he has open backing by the White House. Although President Biden has said, he supports decriminalization, it’s uncertain whether full legal status at the national level would be supported by the President or by enough legislators needed to pass the measure.

 

Take-Away

Although the complete contents of the proposal has not been revealed, it is expected that it is written to solve some of the biggest hurdles for the industry. Although legalization at the federal level opens up the products for additional taxes, it also allows for much needed banking and normalized commerce that could add to the industry’s growth and profitability. 

 

Suggested Reading:

Will Federal Law Surrounding Cannabis be Changed?

The Future of Cannabis Crosses Many Industries

Marijuana and Sports, Where Officials Stand

Clarence Thomas Statement on Half-in/Half-out Marijuana Laws

 

Sources:

Cannabis Administration
and Opportunity Act

https://www.bloomberg.com/news/articles/2021-03-31/schumer-pushes-senate-on-pot-legalization-as-states-leap-ahead

 

Stay up to date. Follow us:

 

Esports Entertainment Group Completes Acquisition of Bethard, Adding Swedish and Spanish Licensed Gaming Business

 

Bethard, the B2C business of Gameday Group plc, generated $31M net gaming revenues in 2020 GMBL raised Fiscal 2022 revenue guidance to $100M-$105M as result of the transaction

Newark, New Jersey–(Newsfile Corp. – July 14, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, is pleased to announce the closing of the Company’s acquisition of Gameday Group’s B2C business, operating under the ‘Bethard’ brand by Bethard Group Limited (“Bethard”), a fast-growing sports betting operator that generated $31 million in revenue in 2020. As a result of transaction, Esports Entertainment Group raised its fiscal 2022 revenue guidance to $100 million to $105 million.

“This is another great addition for Esports Entertainment Group that substantially increases our revenue and available markets,” commented Grant Johnson, CEO of Esports Entertainment Group. “We will gain two new gaming licenses from this transaction, including one in the strategically important Swedish market. With these additions, we’ll have a total of 6 tier one licenses globally.”

Bethard is an iGaming company that offers sports betting and casino games online. The company was founded in 2012 and consists of a team of passionate individuals who shares a vision of taking sports betting and casino to the next level. Bethard has a strong focus on responsible gambling with best-in-class compliance functions in order to act properly and in a sustainable way in regulated markets. The company is based in St. Julians, Malta.

The transaction includes a EUR 16 mil ($19.5 mil) cash payment and a 12% net gaming revenue share for two years.

According to ResearchAndMarkets.com, the global gaming market reached a value of $167.9 billion in 2020 and is forecasted to grow at a 9.2% CAGR through 2026, reaching $287.1 billion.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

 

PsyBio Therapeutics Announces Uplisting to OTCQB Venture Market

 

OXFORD, Ohio and COCONUT CREEK, Fla., July 14, 2021 /PRNewswire/ – PsyBio Therapeutics Corp. (TSXV: PSYB) (OTCQB: PSYBF) (“PsyBio” or the “Company“), an intellectual property driven biotechnology company developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health challenges and other disorders, is pleased to announce that its subordinate voting shares (the “Shares“) will commence trading on the OTCQB Venture Market (the “OTCQB“) at the market open on July 14, 2021 under the symbol “PSYBF”.

“Today’s news is an important milestone towards broadening our market presence across the United States as we engage with this significant shareholder audience,” said Evan Levine, CEO of PsyBio. “Listing on the OTCQB positions PsyBio with increased visibility among the U.S. based investment community and improved liquidity for our current and prospective shareholders.”

Additionally, the Company is applying for eligibility for book-entry delivery and depository services of the Depository Trust Company (“DTC“), to facilitate electronic settlement of transfers of its Shares in the United States.  This electronic method of clearing securities expedites the receipt of stock and cash and accelerates the settlement process for investors. DTC eligibility will help enhance the Company’s potential investor base and offer a more convenient trading experience for current and future shareholders while enhancing the liquidity of the Shares on the OTCQB.

The Shares will continue to trade on the TSX Venture Exchange (the “TSXV“) under the symbol “PSYB” and on the Frankfurt Stock Exchange under the symbol “PSYB.F”.

About PsyBio Therapeutics Corp.

PsyBio Therapeutics is an intellectual property driven biotechnology company developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health challenges and other disorders. The team has extensive experience in drug discovery based on synthetic biology and metabolic engineering as well as clinical and regulatory expertise progressing drugs through human studies and regulatory protocols. Research and development is currently ongoing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines and combinations thereof. The Company is also researching and developing new non-naturally occurring molecular structures which may have unique therapeutics properties.

About OTCQB

The OTCQB, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial companies in the United States and abroad. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that: PsyBio will obtain DTC eligibility for its Shares; PsyBio will be successful in discovering new valuable target molecules; PsyBio will be successful in obtaining Investigational New Drug Applications and will be able to obtain all necessary approvals for clinical trials; PsyBio’s technology will be safe and effective; and that drug development involves long lead times, is very expensive and involves many variables of uncertainty. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting PsyBio’s business and results of operations; decreases in the prevailing process for psilocybin and nutraceutical products in the markets in which PsyBio operates; the impact of COVID-19; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

PsyBio makes no medical, treatment or health benefit claims about PsyBio’s proposed products. The U.S. Food and Drug Administration (“FDA“) or other similar regulatory authorities have not evaluated claims regarding psilocybin and other next generation psychoactive compounds. The efficacy of such products has not been confirmed by FDA-approved research. There is no assurance that the use of psilocybin and other psychoactive compounds can diagnose, treat, cure, or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. PsyBio has not conducted clinical trials for the use of its intellectual property. Any references to quality, consistency, efficacy and safety of potential products do not imply that PsyBio verified such in clinical trials or that PsyBio will complete such trials. If PsyBio cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the PsyBio’s performance and operations.

The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE PsyBio Therapeutics Corp.

	Image Credit: Matheus Bertelli (Pexels)

Will Investors Experience a Quicker High in Psychedelics as Cannabis Creates the “Model”?

 

Will the legalization of psychedelic drugs for medical and recreational use unfold rapidly, similar to states where marijuana laws have changed? This is a question many investors, business owners, would-be business owners, stressed, and would-be recreational users are asking. There are already definable hints as to the answer to this question; many of them are presented here.

Short History of Legalization

A number of U.S. cities decriminalized the possession of plant- and fungi-based psychedelics, including psilocybin mushrooms, just a couple of years ago (2019). The first was Denver, CO, in 2019. The first state to legalize psilocybin “magic mushrooms” for therapeutic use was Oregon. This was a voter lead move during the 2020 November election. When all the ballots were counted, voters had approved the psychedelic substance and also approved a separate measure to legalize possession of all drugs. California may soon follow Oregon. On June 1, their state Senate approved a bill that would allow possession and personal use of various psychedelic substances which include: psilocybin, LSD, ketamine, DMT, MDMA, mescaline, and ibogaine. The measure has not yet been voted on by the state Assembly. Whether it will be approved by the Assembly and then signed by the Governor is not certain.

 

 

Why Now?

The impetus for this new momentum in psychedelics is twofold.

First, there is solid science and growing data identifying therapeutic uses for psilocybin and other psychedelic drugs. The progression and results of the data are such that the Food and Drug Administration (FDA) has granted psilocybin ” breakthrough therapy” status. This designation provides a green light to those looking to research its use for “serious conditions.” This led to Johns Hopkins University, in late 2019 to launch the “Center for Psychedelics and Consciousness Research.” The Center studies how psychedelic compounds affect our brains.

Second, decades of fighting the “war on drugs” has done little to reduce drug use, while it has filled prisons. It can be argued that prison time genuinely ruins lives, while the impact of some drugs they are doing time for is still unknown. The “First Step Act” signed by President Trump in 2018 brought attention to this as the act reduces sentences for certain drug crimes.

 

Changes Around the U.S.

While the California Senate and a majority of Oregon voters have taken the most notable steps, other states have been experimenting with the idea of reducing the burden on their legal system while potentially opening the door to breakthrough therapies.  The path forward for these states is largely in the early stage of “studies” to determine position. The more significant steps by states are outlined below:

• New York – Assemblywoman Linda Rosenthal introduced a bill on June 1 to create a “Psychedelic Research Institute.” Its initial findings are due by Dec. 1, 2021.

• Connecticut – Governor Ned Lamont signed a bill on June 7, 2021, to permit psilocybin research in his state. The bill calls for the creation of a “working group” charged with reporting its findings to the Connecticut general assembly by Jan. 1, 2022.

• Texas – Governor Greg Abbott allowed a bill authorizing the study of psilocybin to become law without his signature on June 7, 2021. One driver of the decision is the preliminary findings that psilocybin has been effective in treating military veterans with post-traumatic stress disorder.

• New Jersey – Governor Phil Murphy signed a bill in February 2021 lowering the penalties for possession of up to one ounce of mushrooms in his state.

• Maine – the House of Representatives on June 17, 2021, approved a bill to decriminalize possession of all currently illicit drugs. That measure has not yet gone to the state Senate for a vote.  

 

Will Psychedelics Be the “New Cannabis” for Investors?

Investors got their first dose of once illicit substances with cannabis and recognize the potential highs. For speculators to view psychedelics in a similar vein and anticipate desirable results would seem to follow – and the numbers are somewhat exhilarating.

A study, released in June 2020 by Data Bridge Research, predicted that a new “psychedelics sector” could grow at a CAGR of 16.3% and continue to become a $6.85 billion industry by 2027. Considering there is no indication as to whether the California or Maine legislation will move beyond its state’s Senate and be signed makes such predictions seem dubious. However, it is certain that there is a higher level of acceptance by today’s leaders and the public at large. It is also expected that like other new industries, moving from “counterculture” to mainstream will be a long strange trip full of unexpected realizations and maybe substantial reward.

Suggested Reading:

Acceptance of Psychedelics for Wellness and Recreation

The Future of Cannabis Crosses Many Industries

The Future of Cannabis Crosses Many Industries

Managing Investment Portfolio Risk

 

Sources:

https://au.finance.yahoo.com/news/mushroom-market-size-worth-95-073500098.html

https://thenewsstation.com/texas-to-study-psychedelics-even-as-gov-abbott-refused-to-sign-measure/

https://sd11.senate.ca.gov/news/20210218-senator-wiener-introduces-legislation-decriminalize-possession-and-personal-use

https://blogs.findlaw.com/law_and_life/2021/06/will-psychedelic-drugs-become-legal.html?DCMP=cons_times:nwl:2021july:gen:body

https://www.openpr.com/news/2068844/psychedelic-drugs-market-2020-to-grow-at-16-3-cagr-by-2027

https://drugpolicy.org/press-release/2018/12/president-trump-signs-first-step-act-law

https://www.prnewswire.com/news-releases/psychedelic-drugs-market-projected-to-reach-6-85-billion-by-2027–301082594.html

 

Stay up to date. Follow us:

	Image Credit: Matheus Bertelli (Pexels)

Will Investors Experience a Quicker High in Psychedelics as Cannabis Creates the “Model”?

 

Will the legalization of psychedelic drugs for medical and recreational use unfold rapidly, similar to states where marijuana laws have changed? This is a question many investors, business owners, would-be business owners, stressed, and would-be recreational users are asking. There are already definable hints as to the answer to this question; many of them are presented here.

Short History of Legalization

A number of U.S. cities decriminalized the possession of plant- and fungi-based psychedelics, including psilocybin mushrooms, just a couple of years ago (2019). The first was Denver, CO, in 2019. The first state to legalize psilocybin “magic mushrooms” for therapeutic use was Oregon. This was a voter lead move during the 2020 November election. When all the ballots were counted, voters had approved the psychedelic substance and also approved a separate measure to legalize possession of all drugs. California may soon follow Oregon. On June 1, their state Senate approved a bill that would allow possession and personal use of various psychedelic substances which include: psilocybin, LSD, ketamine, DMT, MDMA, mescaline, and ibogaine. The measure has not yet been voted on by the state Assembly. Whether it will be approved by the Assembly and then signed by the Governor is not certain.

 

 

Why Now?

The impetus for this new momentum in psychedelics is twofold.

First, there is solid science and growing data identifying therapeutic uses for psilocybin and other psychedelic drugs. The progression and results of the data are such that the Food and Drug Administration (FDA) has granted psilocybin ” breakthrough therapy” status. This designation provides a green light to those looking to research its use for “serious conditions.” This led to Johns Hopkins University, in late 2019 to launch the “Center for Psychedelics and Consciousness Research.” The Center studies how psychedelic compounds affect our brains.

Second, decades of fighting the “war on drugs” has done little to reduce drug use, while it has filled prisons. It can be argued that prison time genuinely ruins lives, while the impact of some drugs they are doing time for is still unknown. The “First Step Act” signed by President Trump in 2018 brought attention to this as the act reduces sentences for certain drug crimes.

 

Changes Around the U.S.

While the California Senate and a majority of Oregon voters have taken the most notable steps, other states have been experimenting with the idea of reducing the burden on their legal system while potentially opening the door to breakthrough therapies.  The path forward for these states is largely in the early stage of “studies” to determine position. The more significant steps by states are outlined below:

• New York – Assemblywoman Linda Rosenthal introduced a bill on June 1 to create a “Psychedelic Research Institute.” Its initial findings are due by Dec. 1, 2021.

• Connecticut – Governor Ned Lamont signed a bill on June 7, 2021, to permit psilocybin research in his state. The bill calls for the creation of a “working group” charged with reporting its findings to the Connecticut general assembly by Jan. 1, 2022.

• Texas – Governor Greg Abbott allowed a bill authorizing the study of psilocybin to become law without his signature on June 7, 2021. One driver of the decision is the preliminary findings that psilocybin has been effective in treating military veterans with post-traumatic stress disorder.

• New Jersey – Governor Phil Murphy signed a bill in February 2021 lowering the penalties for possession of up to one ounce of mushrooms in his state.

• Maine – the House of Representatives on June 17, 2021, approved a bill to decriminalize possession of all currently illicit drugs. That measure has not yet gone to the state Senate for a vote.  

 

Will Psychedelics Be the “New Cannabis” for Investors?

Investors got their first dose of once illicit substances with cannabis and recognize the potential highs. For speculators to view psychedelics in a similar vein and anticipate desirable results would seem to follow – and the numbers are somewhat exhilarating.

A study, released in June 2020 by Data Bridge Research, predicted that a new “psychedelics sector” could grow at a CAGR of 16.3% and continue to become a $6.85 billion industry by 2027. Considering there is no indication as to whether the California or Maine legislation will move beyond its state’s Senate and be signed makes such predictions seem dubious. However, it is certain that there is a higher level of acceptance by today’s leaders and the public at large. It is also expected that like other new industries, moving from “counterculture” to mainstream will be a long strange trip full of unexpected realizations and maybe substantial reward.

Suggested Reading:

Acceptance of Psychedelics for Wellness and Recreation

The Future of Cannabis Crosses Many Industries

The Future of Cannabis Crosses Many Industries

Managing Investment Portfolio Risk

 

Sources:

https://au.finance.yahoo.com/news/mushroom-market-size-worth-95-073500098.html

https://thenewsstation.com/texas-to-study-psychedelics-even-as-gov-abbott-refused-to-sign-measure/

https://sd11.senate.ca.gov/news/20210218-senator-wiener-introduces-legislation-decriminalize-possession-and-personal-use

https://blogs.findlaw.com/law_and_life/2021/06/will-psychedelic-drugs-become-legal.html?DCMP=cons_times:nwl:2021july:gen:body

https://www.openpr.com/news/2068844/psychedelic-drugs-market-2020-to-grow-at-16-3-cagr-by-2027

https://drugpolicy.org/press-release/2018/12/president-trump-signs-first-step-act-law

https://www.prnewswire.com/news-releases/psychedelic-drugs-market-projected-to-reach-6-85-billion-by-2027–301082594.html

 

Stay up to date. Follow us:

 

PsyBio Therapeutics Announces Uplisting to OTCQB Venture Market

 

OXFORD, Ohio and COCONUT CREEK, Fla., July 14, 2021 /PRNewswire/ – PsyBio Therapeutics Corp. (TSXV: PSYB) (OTCQB: PSYBF) (“PsyBio” or the “Company“), an intellectual property driven biotechnology company developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health challenges and other disorders, is pleased to announce that its subordinate voting shares (the “Shares“) will commence trading on the OTCQB Venture Market (the “OTCQB“) at the market open on July 14, 2021 under the symbol “PSYBF”.

“Today’s news is an important milestone towards broadening our market presence across the United States as we engage with this significant shareholder audience,” said Evan Levine, CEO of PsyBio. “Listing on the OTCQB positions PsyBio with increased visibility among the U.S. based investment community and improved liquidity for our current and prospective shareholders.”

Additionally, the Company is applying for eligibility for book-entry delivery and depository services of the Depository Trust Company (“DTC“), to facilitate electronic settlement of transfers of its Shares in the United States.  This electronic method of clearing securities expedites the receipt of stock and cash and accelerates the settlement process for investors. DTC eligibility will help enhance the Company’s potential investor base and offer a more convenient trading experience for current and future shareholders while enhancing the liquidity of the Shares on the OTCQB.

The Shares will continue to trade on the TSX Venture Exchange (the “TSXV“) under the symbol “PSYB” and on the Frankfurt Stock Exchange under the symbol “PSYB.F”.

About PsyBio Therapeutics Corp.

PsyBio Therapeutics is an intellectual property driven biotechnology company developing novel formulations of psychoactive medications produced by genetically modified bacteria for the treatment of mental health challenges and other disorders. The team has extensive experience in drug discovery based on synthetic biology and metabolic engineering as well as clinical and regulatory expertise progressing drugs through human studies and regulatory protocols. Research and development is currently ongoing for naturally occurring psychoactive tryptamines originally discovered in different varieties of hallucinogenic mushrooms, other tryptamines and phenethylamines and combinations thereof. The Company is also researching and developing new non-naturally occurring molecular structures which may have unique therapeutics properties.

About OTCQB

The OTCQB, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial companies in the United States and abroad. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that: PsyBio will obtain DTC eligibility for its Shares; PsyBio will be successful in discovering new valuable target molecules; PsyBio will be successful in obtaining Investigational New Drug Applications and will be able to obtain all necessary approvals for clinical trials; PsyBio’s technology will be safe and effective; and that drug development involves long lead times, is very expensive and involves many variables of uncertainty. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting PsyBio’s business and results of operations; decreases in the prevailing process for psilocybin and nutraceutical products in the markets in which PsyBio operates; the impact of COVID-19; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

PsyBio makes no medical, treatment or health benefit claims about PsyBio’s proposed products. The U.S. Food and Drug Administration (“FDA“) or other similar regulatory authorities have not evaluated claims regarding psilocybin and other next generation psychoactive compounds. The efficacy of such products has not been confirmed by FDA-approved research. There is no assurance that the use of psilocybin and other psychoactive compounds can diagnose, treat, cure, or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. PsyBio has not conducted clinical trials for the use of its intellectual property. Any references to quality, consistency, efficacy and safety of potential products do not imply that PsyBio verified such in clinical trials or that PsyBio will complete such trials. If PsyBio cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the PsyBio’s performance and operations.

The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE PsyBio Therapeutics Corp.

 

Esports Entertainment Group Completes Acquisition of Bethard, Adding Swedish and Spanish Licensed Gaming Business

 

Bethard, the B2C business of Gameday Group plc, generated $31M net gaming revenues in 2020 GMBL raised Fiscal 2022 revenue guidance to $100M-$105M as result of the transaction

Newark, New Jersey–(Newsfile Corp. – July 14, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, is pleased to announce the closing of the Company’s acquisition of Gameday Group’s B2C business, operating under the ‘Bethard’ brand by Bethard Group Limited (“Bethard”), a fast-growing sports betting operator that generated $31 million in revenue in 2020. As a result of transaction, Esports Entertainment Group raised its fiscal 2022 revenue guidance to $100 million to $105 million.

“This is another great addition for Esports Entertainment Group that substantially increases our revenue and available markets,” commented Grant Johnson, CEO of Esports Entertainment Group. “We will gain two new gaming licenses from this transaction, including one in the strategically important Swedish market. With these additions, we’ll have a total of 6 tier one licenses globally.”

Bethard is an iGaming company that offers sports betting and casino games online. The company was founded in 2012 and consists of a team of passionate individuals who shares a vision of taking sports betting and casino to the next level. Bethard has a strong focus on responsible gambling with best-in-class compliance functions in order to act properly and in a sustainable way in regulated markets. The company is based in St. Julians, Malta.

The transaction includes a EUR 16 mil ($19.5 mil) cash payment and a 12% net gaming revenue share for two years.

According to ResearchAndMarkets.com, the global gaming market reached a value of $167.9 billion in 2020 and is forecasted to grow at a 9.2% CAGR through 2026, reaching $287.1 billion.

About Esports Entertainment Group

Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media & Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

Friday, July 9, 2021

ACCO Brands Corporation (ACCO)
A Return to Normalcy Bodes Well

ACCO Brands Corporation designs, manufactures, sources, markets, and sells office products, academic supplies, and calendar products primarily in the United States, Canada, Northern Europe, Brazil, Australia, and Mexico. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers office products, such as stapling, binding and laminating equipment, and related consumable supplies, as well as shredders and whiteboards; and academic products, including notebooks, folders, decorative calendars, and stationery products. It also provides private label products, as well as business machine maintenance and repair services. The company offers its business, academic, and calendar product lines under the Artline, AT-A-GLANCE, Derwent, Esselte, Five Star, GBC, Hilroy, Leitz, Marbig, Mead, NOBO, Quartet, Rapid, Rexel, Swingline, Tilibra, Wilson Jones, and other brand names. In addition, it designs, sources, distributes, markets, and sells accessories for laptop and desktop computers, and tablets comprising security products; input devices, such as presenters, mice, and trackballs; ergonomic aids, including foot and wrist rests; docking stations; and other personal computers and tablet accessories under the Kensington, Microsaver, and ClickSafe brand names. The company sells its products to consumers and commercial end-users primarily through resellers, including traditional office supply resellers, wholesalers, mass merchandisers, and retailers, as well as directly to consumers through on-line and direct mail. ACCO Brands Corporation is headquartered in Lake Zurich, Illinois.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A Return to Normalcy? We recently held a virtual non-deal road show with ACCO CEO Boris Elisman (Which can be viewed here). CEO Boris Elisman noted an ongoing return to “normalcy” in two key end markets: back-to-school and office. On a pro forma basis, these two markets now account for 45% of overall sales.


Back-to-School.   Deloitte is projecting K-12 back-to-school spending to jump 16% over 2020 to $32.5 billion, even above the pre-pandemic 2019 level. Specific to ACCO, spending on school supplies are expected to rise 10%, to $5.5 billion, while spending on computers and electronic gadgets is projected to jump…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Friday, July 9, 2021

FAT Brands Inc. (FAT)
More International Expansion

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

New Deal for Mexico. FAT Brands has entered into an agreement with Red Rombo Group to bring 50 co-branded Fatburger and Buffalo’s Express locations to Mexico. The concept will make its debut in Mexico City with three locations, the first of which is set to open by the end of the year.


Continuing Momentum.  The Mexican deal comes on the heels of an agreement to open 40 co-branded Fatburger/Buffalo Express locations in France, five locations in the Democratic Republic of Congo, and 12 locations that are slated to open in Brazil, Chile, Italy, Peru, and Spain. Each new location continues to…

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

 

Playboy Collaborates with SuperRare to Present NFT Art Collection During Decentraland Art Week

Collection features original collaborations with NFT artists and iconic heritage photography

LOS ANGELES, July 09, 2021 (GLOBE NEWSWIRE) — Playboy, the iconic lifestyle brand owned by leading pleasure and leisure lifestyle company PLBY Group, Inc.
(Nasdaq: PLBY), today announced its first curation collaboration with SuperRare, the Miami Beach Art Collection. The collection will go live today, July 9^th. An expanded version of a digital exhibit previewed to thousands of Crypto enthusiasts at BTC 2021 Miami, the collection features original animated works by Ayla El-Moussa, REK0DE, Jon Noorlander and MBSJQ, and an original heritage photograph unearthed from the Playboy Archives, featuring a Playboy Bunny pictured water-skiing outside of the Miami Playboy Club in 1970. As an added bonus, the first collector of the heritage NFT will receive a framed limited-edition print, courtesy of the Playboy Archives. Playboy is now whitelisted on SuperRare’s platform with the ability to curate and release ongoing collections.

The Miami Beach Art Collection will be featured on July 10^th during the first weekend of Decentraland’s second annual Art Week, a week-long virtual art fair featuring leading galleries and auction houses. The Playboy and Decentraland teams have partnered to design a Playboy-branded art gallery in Decentraland’s Crypto Valley. The fully customized Miami Beach-themed space will feature the five NFTs surrounded by a selection of heritage covers and imagery from the Playboy Archives, as well as a sand-covered floor, palm trees, flamingos, and a tropical color palette. Additional highlights will include a co-branded bar, an exclusive DJ set by Verité, and a curatorial overview of the exhibit provided by Playboy.

“We’re honored to join the SuperRare community, and so excited to present our first collaboration during Decentraland Art Week,” said Rachel Webber, Chief Brand Officer at Playboy. “We’ve long admired SuperRare’s curatorial vision and are thrilled to continue Playboy’s legacy as a curator of artistic expression on the platform. We also want to say a huge thank you to the always inspiring and innovative Decentraland team for inviting us to participate in their second inaugural art festival, and for their ongoing creative collaboration.”

“I’m super excited for SuperRare to be partnering with Playboy. The brand has supported incredible artists over the decades from Dalí to Warhol to Haring,” says John Crain, Chief Executive Officer of SuperRare. “NFTs are a new medium for artists and it’s great to see Playboy join the ecosystem.”

“Playboy made a huge splash in Decentraland in May of this year with ‘Liquid Summer’, its first-ever NFT collection,” said Sam Hamilton, Community & Events Lead, Decentraland Foundation. “To return so soon with its Miami Beach Art Collection shows not only how committed Playboy is to digital art and the artists but its belief in the power and future of the metaverse. Visitors to Art Week are in for a real treat.”

About
Playboy Art
For the past 67 years, Playboy has provided a platform for artists, writers, and photographers to express themselves with total freedom. From Pablo Picasso and Salvador Dalí to Keith Haring and Andy Warhol, to Kinuko Kraft and LeRoy Neiman, Playboy has featured some of the world’s most legendary artists. Playboy’s contemporary arts program continues to build on that legacy by serving as a platform for more female artists and diverse voices, including recent collaborations with some of today’s most exciting creatives, such as Marilyn Minter, Hank Willis Thomas, JR, Nick Cave, Betty Tompkins and many more. At the core of this evolution is a continued desire to push the boundaries of storytelling, to marry high and low sensibilities, and to champion artists who are igniting important conversations surrounding censorship, sexuality, and freedom of expression.

About
PLBY Group, Inc.
PLBY Group, Inc. connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving billions of dollars in global consumer spending annually across approximately 180 countries. Learn more at http://www.plbygroup.com.

About
Super Rare
Founded in 2017, SuperRare is a pioneering online, peer-to-peer marketplace for premium, single edition non-fungible tokens (NFTs), most notably CryptoArt, built on the Ethereum blockchain. Created with the goal of reinventing art collecting for the digital age, SuperRare has facilitated artists and collectors around the world to sell and purchase more than $71M worth of art in the last year alone. On the heels of a successful first round of funding in 2021, SuperRare continues to work with key art curation and auction partners across the globe.

About
Decentraland
Decentraland is a decentralized virtual social platform powered by the Ethereum blockchain, that is owned and governed by its users. Through the Decentraland platform, they can create, experience, and monetize content and applications. Every day Decentraland features a wide assortment of events and activities – from digital art shows to music performances, gaming, quests and more.

Contact
Media: 
press@plbygroup.com
Investors: 
investors@plbygroup.com

	Image Credit: Bruce Detorres (Flickr)

Marijuana is Winning the Sports Battle

 

THC is a restricted chemical in athletic competition for sports leagues and federations that have signed on to the World Anti-Doping Code. The Code, sometimes referred to as WADA, is a document aimed to define what is and is not permitted for athlete use for the protection of the validity of the sports that have signed it — and for the health of the athletes. Consistency among sports organizations across the globe has been the WADA objective since being founded in 1999.

Organizations at Odds with WADA

Just as the legitimacy and safety of cannabis products have produced state laws at odds with the overriding federal government, so too do the athletic commissions of some states that, in defiance, have removed their marijuana THC prohibitions in many sports.    

The Nevada Athletic Commission (NAC) unanimously agreed on Wednesday (July 7) to change its policy and amend its anti-doping rules by removing the threat of suspension over cannabis use or possession for boxers. There are no longer any penalties threatening the athletes. Fighters would still be barred from the ring if they demonstrate intoxication. Ring sports in Nevada, boxing and mixed martial arts (MMA), are revered as first-class,  this was pointed out by the Commission Chair Stephen Cloobeck, “I think being the gold standard with regard to combat sports—both [Mixed Martial Arts] and boxing—being a world-class destination, and having our state show the leadership and the fortitude in light of some of the recent circumstances we’ve all seen on television, we should be always at the forefront of these issues,” Cloobeck said at Wednesday’s meeting. Drug tests for marijuana will still continue for the next six months for “data collection purposes.”

 

        U.S. Rep. Dina Titus (D-NV) praised the commission’s action on Wednesday.

 

In May of 2021, The Florida State Boxing Commission stopped testing fighters for marijuana. At the time, Bob Bennett, the executive director of the Florida NAC said, “Marijuana is considered to be a substance of abuse and not a performance-enhancing drug.” He explained, “I think our goal is to test for performance-enhancing drugs in an effort to ensure there’s a level playing field.”

In January the USADA and UFC announced they would no longer punish ring sports athletes with positive marijuana tests. It’s important to note that the UFC is not a signatory of WADA so the restrictions are not the same as athletes that are being ranked for international competitions including the Olympics.

An official statement this Tuesday from USA Track & Field (USATF), the nation’s governing body for running, was referring to a new case where a runner who was favored for a gold medal in the Tokyo Olympics was suspended, it read: that it’s currently unwilling to amend its own internal rules to make an exception in her case; however, it also said that international policy on cannabis punishing athletes “should be reevaluated.”

As part of a collective bargaining contract, the NFL’s policy related to cannabis changed in 2020. Under the policy, NFL players will not face the risk of suspension from games over positive tests for any drug. Marijuana, of course, falls within that umbrella of protection.    

In 2019 Major League Baseball decided to remove the herb from its list of banned substances. Players may consume marijuana without risk of discipline but may not play under the influence.

The NBA is currently operating under a  temporary policy to not randomly test for THC. This could soon become permanent. Rather than mandate blanket tests, Commissioner Adam Silver said the league would be reaching out to players who show signs of problematic dependency, not those who are “using marijuana casually.”

 

Take-Away

Recently Justice Clarence Thomas wrote in regards to federal cannabis laws being at odds with many state laws, “The Federal Government’s current approach is a half-in, half-out regime that simultaneously tolerates and forbids local use of marijuana.” As marijuana has various levels of acceptance within the public sphere, there are also various levels of rules that at times seem to conflict.

Professional sports and other entertainers often lead the way to full public acceptance of a once-taboo idea. While there have been athletes over the years who have lost advertising sponsorships for Marijuana use, it may not be too far off when we see this turned around, where athletes are openly endorsing a marijuana product for compensation.

 

Suggested Reading:

” Clarence Thomas’ Statement on Half-in/Half-out Marijuana Laws ”

Will Federal Law Surrounding Marijuana be Changed?

The Future of Cannabis Crosses Many Industries

Lithium Ion Battery Recycling Heats Up

 

Sources:

https://boxing.nv.gov/uploadedFiles/boxingnvgov/content/Commission_Statements/NSAC_Marijuana_Testing_Policy_Memorandum.pdf

https://www.marijuanamoment.net/nevada-sports-regulators-ditch-marijuana-testing-for-fighters-days-after-richardsons-olympics-suspension/

https://pubmed.ncbi.nlm.nih.gov/26178329/

https://www.wada-ama.org/en/what-we-do/the-code

https://thenevadaindependent.com/article/nevada-athletic-commission-rules-that-marijuana-possession-and-use-will-not-disqualify-fighters

https://twitter.com/repdinatitus

https://www.mmafighting.com/2021/1/14/22230502/ufc-usada-significant-rule-change-marijuana-thc-use-under-updated-anti-doping-program-rules

https://www.marijuanamoment.net/new-nfl-policy-would-end-suspensions-for-testing-positive-for-any-drug-not-just-marijuana/

https://www.usatoday.com/story/sports/nfl/2014/09/13/nfl-new-drug-policy-three-things/15571205/

https://www.marijuanamoment.net/nba-players-wont-be-tested-for-marijuana-next-year-as-league-weighs-permanent-change/

 

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