Havn Life Applies for Licence to Produce and Sell Psilocybin

The Controlled Drugs and Substances Dealer's Licence will allow Havn Life to supply naturally-derived psilocybin globally to universities, clinical researchers and companies

VANCOUVER, BC / ACCESSWIRE / October 13, 2020 / Havn Life Sciences Inc. (CSE:HAVN) (FSE:5NP) (the "Company" or "Havn Life"), a biotechnology company focused on unlocking human potential using evidence-informed research and developing standardized psychoactive compounds derived from plants and fungi, is pleased to announce it has submitted an application to Health Canada to obtain a Controlled Drugs and Substances Dealer's Licence ("Licence") for Psilocybin and Psilocin.

This Licence, when issued, will permit Havn Life to sell naturally-derived psilocybe spp compounds, under the Controlled Drug and Substances Act, to universities, researchers and companies.

"Helping researchers unlock the benefits of natural medicines is the first step that must be taken to move this industry forward," said Alexzander Samuelsson, Chief Research Officer of Havn Life. "This is an entirely new industry that is being built from the ground up and the potential natural medicines have only begun to be explored. We are committed to playing a key role in this emerging field of research once we have earned our license to sell naturally-derived psilocybin in Canada."

"Psychedelics have been used as a medicine for centuries, but there is still so much work to do to bring these treatments to the masses," said Dr. Ivan Casselman, Chief Psychedelic Officer of Havn Life. "We are committed to developing safe, quality controlled, naturally derived products from Psilocybe spp. mushrooms. With the Controlled Drugs and Substances Dealer's Licence we will have the ability to develop a standardized, quality-controlled supply chain of psychedelic substances for use by researchers, universities and companies."

Earlier this year, Havn Live was granted a Section 56 exemption from Health Canada to begin work with psilocybin. The Section 56 exemption licence grants Havn Life the ability to possess psilocybin for research purposes, specifically for the development of quality control methods.

On Behalf of The Board of Directors

Susan Chapelle & Tim Moore
Co-CEOs

About Havn Life Sciences Inc.

Havn Life Sciences is a biotechnology company on a mission to unlock human potential using evidence-informed research. The Company is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi, and the development of natural health care products from non-regulated compounds. Learn more at: havnlife.com and follow us on Facebook, Twitter and Instagram.

Contact:

Investor Relations: [email protected] 604 687 7130
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Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company's business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.

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SOURCE: Havn Life Sciences Inc.