Lexston Life Sciences Corp. Makes an Investment Into Psy Integrated Health Inc.

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(TheNewswire)



Vancouver, British Columbia - TheNewswire - July 7, 2021 - Lexston Life Sciences Corp. (CNSX:LEXT.CN) (the “Company” or “Lexston”) is pleased to announce an acquisition of 750,000 Class C Non- Voting Common Shares of Psy Integrated Health Inc. (“Psy Integrated”) for the total consideration of $75,000 representing 13% of the total  issued and outstanding shares of Psy Integrated.

 

Founded in 2020 Psy Integrated is a British Columbia based benefit corporation with a mission to improve the mental health of Canadians through psychedelic assisted therapies delivered by a network of clinics delivering integrative health.

 

Psy Integrated’s flagship Empower Health clinic in Vancouver includes a multi-disciplinary team of highly experienced health practitioners offering telehealth and onsite services to their patients from its location in Vancouver, British Columbia, with additional clinics planned.

 

Psy Integrated also offers a broad range of managed services to member clinics including:

 

  • - Clinic Practices – develop therapeutic protocols for use of psychedelic medicines by integrative health clinics and practitioners

    - Compliance – establish controlled substance protocols for clinics

    - Supply – identify appropriate sources for legal psychedelic medicines for clinics

 

“This first investment in Psy Integrated marks the beginning of our accelerated plan to play an integral role in providing patients with caring and meaningful access to health and wellness through the use of psychedelics” stated Jag Bal, CEO of Lexston. Mr. Bal added: “We understand that the critical path to success lies both within our own work and research, as well as collaboration with companies such as Psy Integrated.”

 

About Lexston Life Sciences Corp.

Lexston Life Sciences Corp. is a Canadian biotechnology company providing cannabis testing and research services.  Lexston is also in the process of securing licensing under the exemptions prescribed by section 56 of the Controlled Drugs and Substances Act (Canada) to enable the expansion of its services into the psychedelic industry with an initial focus on the detection and quantification of psychedelic molecules in the lab and point of care. Lexston intends to develop and validate methods for standardized manufacturing of plant derived psychedelics in support of burgeoning trials in the field of mental health and wellness.

  

On Behalf of the Board of Directors

 

LEXSTON LIFE SCIENCES CORP.

Jagdip Bal Chief Executive Officer

Telephone: (604) 928-8913

  

Forward Looking Information

 

This release includes forward-looking information within the meaning of Canadian securities laws regarding Lexston and Psy Integrated  and their respective businesses. Such statements are based on the current expectations and views of future events of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including market conditions, economic factors, management's ability to manage Lexston and Psy Integrated and the equity markets generally.

 

Although Lexston and Psy Integrated have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Lexston and Psy Integrated do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

  

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

  

Copyright (c) 2021 TheNewswire - All rights reserved.