TORONTO, ON / ACCESSWIRE / May 3, 2022 / GHP Noetic Science-Psychedelic Pharma Inc. (TSXV:PSYF.P) ("GHP"), a capital pool company, and Diamond Therapeutics Inc. ("Diamond"), a psychedelic drug development company focused on low-dose therapies for mental health, agreed to terminate a previously announced letter of intent (the "LOI") between the parties. For more information on the LOI and transactions contemplated thereby, please see GHP news release dated February 2, 2021.
GHP will continue to identify and evaluate other opportunities for the purpose of completing a Qualifying Transaction under the CPC policy of the TSXV. Trading of GHP common shares is expected to resume trading on the TSXV shortly.
"Despite much effort, market conditions have unfortunately not been supportive of the transaction contemplated in the LOI. We are grateful for the hard work and diligence of the GHP Noetic team in working to conclude the RTO and wish them well as they evaluate new strategic opportunities for GHP Noetic." - William Hilson, Executive Chair Diamond.
About GHP
GHP is a Capital Pool Company (as defined in the policies of the Exchange). Its principal business activity is to identify and evaluate opportunities to acquire assets or business. Incorporated under the laws of the Province of Ontario, GHP is a reporting issuer in the Provinces of British Columbia, Alberta and Ontario. Its common shares (each, a "GHP Share") are listed for trading on the Exchange under the symbol PSYF.P.
About Diamond Therapeutics
Incorporated in 2018, Diamond is a private, Toronto-based company with a mission to develop new and better drugs for mental health conditions by unlocking the promise of psychedelic compounds. Diamond is focused on developing and commercializing sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort, with the goal of maximizing the positive impact better drugs can have on the global mental health crisis.
For further information, please contact:
Paul Barbeau, GHP
Email: paul@noeticfund.com
Rebecca Brown, Diamond Therapeutics
Email: rebecca@diamondthera.com
SOURCE: GHP Noetic Science-Psychedelic Pharma Inc.
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