After the Marijuana sector, it’s time for THE PSYCHEDELIC industry to pick up the pace. 2021 could be “THE YEAR” for several psychedelic companies to go public in order to attract more capital from institutional and retail investors. Psilocybin is a Schedule I prohibited substance similar to marijuana and heroin but could soon be legalized as more and more scientific merit of the magic mushroom gets documented.
A couple of companies in the Magic Mushroom sector that are worth talking about are Compass Pathways (CMPS) and Minerco, Inc. (MINE). CMPS is ahead in the race is already working on a formulation of psilocybin to help with treatment-resistant depression. The company is working on a phase 2b clinical trial of COMP360 psilocybin therapy, and the results could be out by the end of 2021. A positive result would mean that CMPS would have market exclusivity in the U.S. and EU for between 5 and 11 years upon regulatory approval.
Minerco Inc. “The Magic Mushroom Company” (OTC PINK:MINE) on the other hand is enhancing its domestic operations. The company recently announced that they have finalized a lease on a prime location that will enable them to enhance their domestic operations. As per the press release, this strategic maneuver will help in Ann Arbor, Michigan as the local policy allows for psilocybin decriminalization. By establishing a presence in a market that has already expressed interest in the benefits of psychedelics, Minerco ownership expects to produce medical mushroom strains like Chaga and Lions Mane as well as begin testing the waters for Psilocybin in the first decriminalized location in the Midwest.
Minerco CEO, Julius Jenge, issued the following statement: “Fortune handed us this nearly pristine opportunity to acquire this storefront in a market whose local policies will allow us to expand our operations seamlessly. As we continue to raise awareness towards the nationalization of psilocybin and cannabis products, it is crucial for us to focus on concentrated, high-traffic areas where local laws are a non-issue for us to build a strong base in assisting us with our greater mission.”
It looks like early investors may be rewarded if they see value in MINE while the stock trades in mere pennies.
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