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Shroomdaddy

PRMO.C - New psychedelic play with $1.5M mkt cap & 10M float!This one could easily multi-bag just by virtue of being too cheap at $1.5M market cap and super tight 10M float. Announced entering psychedelics space today but also has Health Canada license for PPE distribution. Multiple potential catalysts looming... Primo Nutraceuticals Inc., Engages MedCan Biotechnologies to Conduct Chemo typing & Geno-typing Studies of Psilocybin Mushrooms VANCOUVER, British Columbia, Oct. 14, 2020 (GLOBE NEWSWIRE) -- PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) ("PRIMO" or the "Company") Primo Nutraceuticals Inc. has entered intoa non-binding letter of intent (the "LOI") with MedCanBiotechnologies Inc. (“MEDCAN BIOTECH”). MEDCAN BIOTECH will act as a consultant to conduct a chemo typing (Chemical Analysis) and a genotyping (Genetic Analysis) study of up to 5 strains of Psilocybin mushrooms (commonly known as Magic Mushrooms). Terms of Engagement Health Canada (HC) has recently shifted towards psychedelic-assisted psychotherapies in safe, controlled environments as acceptable treatment options. Pursuant to Section 56 exemption from the Canadian Drugs and Substances Act to treat anxiety associated diagnoses,MEDCAN BIOTECH will apply to Health Canada to receive approval under the Controlled Drug and Substances Act to allow MEDCAN BIOTECH to conduct research in order to effectively standardize the extraction of psilocybin from mushrooms. The Health Canada permitby MEDCAN BIOTECHwill allow to develop and license intellectual property (IP) exclusively for further product development by PRIMO via chemo-typing and geno-typing of 5 different mushrooms to understand their properties. MEDCAN BIOTECHwill proceedto patent methods of analysis and results on behalf of PRIMO, whereby data generated will be used in the production of nutraceutical products. All IPand products developed as a result of the analysis will become the property of PRIMOfor their exclusive use. Psychedelic research focused on psychedelic medicine and psychedelic drugs have demonstrated that these substances have potential for treating ailments including anxiety, addiction, depression, substance dependency, attention deficit hyperactivity disorder and even post-traumatic stress disorder.The data produced can be used to generate premium natural health mushroom nutraceutical products. Genotyping can be used for the identification and labeling of different varieties of psilocybin mushrooms.
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