NEWS RELEASE
VANCOUVER, British Columbia – Roadman Investments Corp. (TSXV: LITT)(FWB: 1QD) (“Roadman Investments” or the “Company”) is pleased to announce the signing of a definitive agreement with Psychedelic Insights to form a joint venture for the purpose of opening up a legal psychedelic treatment center in the state of California upon the legalization or medical approval of psilocybin.
Psychedelic Insights is one of the only companies in the world that offers psychological guided psychedelic experiences with magic psilocybin truffles in their safe psychedelic space in the center of Amsterdam. The company has experienced specialists, a passion for healing people, proven results, mature IT marketing and sales infrastructure with bookings system, CRM, Mail-systems, Screening evaluation, etc. Psychedelic Insights is perfect partner for Roadman as their business is very scalable across jurisdictions.
With the liberalisation of drug policies globally we anticipate the need for qualified certified therapists and practitioners to be a major bottleneck to growth. Psychedelic Insights offers a comprehensive training program that will allow the scale across the US as new states approve treatments. Roadman Investments providing capital and Psychedelic Insights providing the expertise and operating the centers. The number of researchers, universities, and other institutions conducting and publishing scientific studies on the healing powers of psychedelics is increasing daily and is at an all-time high. Stigma is dissolving and people are starting to seek out psychedelic experiences and we expect there to be a lot of demand for these mental health services in the future.
California is a great starting point for the first Psychedelic Insights Center in the US as the state is very progressive, has the most cities that decriminalized psilocybin in the country and has the largest population.
Definitive Agreement Terms
- Roadman shall contribute up to $500,000 USD to the partnership in order to launch the center’s operations, which the Company will source from financing or selling of assets.
- Roadman Investments and Psychedelic Insights are jointly responsible to manage finances, arranging insurance and deposits, creating a budget, managing expenses and creating financial reports.
- Psychedelic Insights shall contribute to establishing the center’s requirements, protocols, patient intakes, promotional marketing, supplier sourcing for needed materials, overall logistical coordination and registration.
- Psychedelic Insights is responsible for a high-quality business plan at least 5 months prior to the launch of the clinic
- Psychedelic Insights is responsible for the coordination and hiring of mental health professionals to operate the center.
Exclusivity
Psychedelic insights grant Roadman Investments a 36-month period of exclusivity for the state of California. Neither Psychedelic Insights nor any of its representatives will, at any time solicit, encourage, discuss, negotiate or entertain any proposals from or provide financial, operating or any other non-public information to, any party other than Roadman with respect to the subject matter of the proposed partnership.
Equity Interests
Each Partner shall be entitled to each item of the Partnership’s income, profit, gain, loss, cost, deduction, credit or allowance in proportion to its Partnership Interest listed below:
- ROADMAN INVESTMENTS CORP: 51%
- PSYCHDELIC INSIGHTS: 40%
- FLAGSHIP US CLINIC DIRECTOR: 9%
CEO and Director Luke Montaine stated: “Psychedelic Insights is currently one of the few operational psychedelic clinics in the world and have an amazing team that is helping people achieve personal transformations with psychedelics. This agreement will allow both companies to launch, when legally permitted to, and capture a first mover advantage in the country.”
In addition, we advise that the Company will be required to secure financing of equity or debt, sell investment assets and/or seek alternative financing methods in order fund the fulfillment of the above disclosed obligations. There is risk that the license or approval for planned treatment center may not be obtained and that if approval is not obtained the Psychedelic Insights Center and joint venture will not exist.
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 is a legal, safe and healing psilocybin therapy center based in the Netherlands. You can learn more about the company here: https://www.psychedelicinsights.com/
Peoples’ Republic of China.
For further information please contact:
Luke Montaine, CEO
luke@rightseasoninvestmentscorp.com
Tel: 604-760-8755
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, completing a transaction with CBP, other statements relating to the financial and business prospects of the Company, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, increase in costs, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.