VANCOUVER, British Columbia – Roadman Investments Corp. (TSXV: LITT)(FWB: 1QD) (“Roadman Investments” or the “Company”) is providing additional details on it’s recent announcement of it’s LOI with Psychedelic Insights. The company is working towards a definitive partnership agreement with an expected closing by the end of February 2020.
The strategic partnership agreement that the companies are planning on entering will create a medical corporation upon legislative changes giving the new joint venture the ability to pursue the opening of a clinic and garnering a first mover advantage. Due to the limited liability, risk management and tax savings of this type of corporation is the best way forward.
One of the important considerations that Roadman and Psychedelic Insights will be focused on is the regulatory and legal aspects of this venture. Currently administering of psychedelic medicines is only permitted under FDA and DEA approved clinical trials. Roadman believes that this should change in the future given that in November 2019 activists filed a ballot measure to legalize psilocybin mushrooms in the state of California.*
The latest version of the California Psilocybin Decriminalization Initiative that has potential to be on the ballot for voters to approve this fall. The initiative aims to advance cognitive liberty and implement a comprehensive, statewide scheme authorizing and regulating the cultivation, processing and distribution of Psilocybin Mushrooms and the chemical compounds contained therein for personal, spiritual, religious, dietary, therapeutic, and medical use. Beyond legalizing retail sales and cultivation, the proposal would also allow for on-site social consumption facilities and for the mushrooms to be sold at farmers’ markets.
Roadman’s definitive agreement will outline the specific details on the companies plan to form a medical corporation in the state of California upon legalization or medical approval of psilocybin.
About Roadman Investments
Roadman Investments is a Canadian Venture Capital and Advisory Firm that strives to actively drive innovation and accelerate growth within its portfolio holdings in order to realize alpha returns for its shareholders. Roadman invests capital into companies that offer breakthrough products, devices, treatments and health supplements.
About Psychedelic Insights
Psychedelic Insights provides legal, safe and psychological guidance of magic (psilocybin) truffle experiences based in Amsterdam, The Netherlands.
You can learn more about the company here: https://www.psychedelicinsights.com/
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Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.