MagicMed Shareholder Update
A Word from the CEO
It has been an exciting month here at MagicMed, following our announcement of entering into a definitive agreement to amalgamate (the “Amalgamation”) with Nasdaq-listed Enveric Biosciences Inc. (NASDAQ: ENVB) (“Enveric”). The parties have been working diligently to complete the steps outlined in the definitive agreement to close the Amalgamation.
The announcement of the Amalgamation has also brought a higher level of awareness to our company, which, upon closing of the Amalgamation, may lead to increased access to the capital markets and liquidity. For example, Maxim Group LLC, a leading full-service investment bank, securities and wealth management firm, initiated analyst coverage of Enveric on June 28, 2021.
We have been provided with several opportunities to share our story amongst our peers in the industry. This past month, we were grateful for the chance to participate at the Benzinga Cannabis Capital Conference on June 3-4th, the Bio Digital Conference on June 10-11th, 14-18th, the Psychedelics in Psychiatry and Beyond Conference by H.C. Wainwright & Co., LLC on June 17th, and at the Psychedelic Opportunity Summit on June 22-23rd. Furthermore, we are delighted to be presenting at the Psytech Summit on July 19th and 20th.
Keep up to date on our latest trade shows, seminars/webinars, and company announcements on our investor section on our website.
To view MagicMed’s past press releases, please scroll down to our “MagicMed Announcements” section of this Shareholder Update or visit our press release page on our website.
Looking Ahead in 2021
MagicMed is focused on continuing the buildout of the Psybrary™, implementing our PsyAI™ drug discovery tool, expanding our management and science teams, filing additional patents, and ramping up efforts to establish key biotechnology and pharmaceutical partnerships. MagicMed is continuing to develop a novel psychedelic-derived drug candidate to address PTSD in cancer patients, for which the premise has already been set by the Canadian Minister of Health granting exemptions for the use of psilocybin in certain terminal cancer patients.
We anticipate that upon completion of the Amalgamation, the newly combined team and range of resources will provide additional opportunities to bring new therapies to market with the ultimate goal of increasing the quality of life for patients in need and emerging as a drug discovery and clinical-stage biotechnology leader, bringing forward novel psychedelic and cannabinoid therapies.
I look forward to your continued support on this journey and to providing you with further updates as our progress continues.
President and Chief Executive Officer
Psychedelics & Stock Prices | Panel | Benzinga Cannabis Capital Conference
May 18, 2021
MagicMed Presents at the Q3 Investor Summit
MagicMed Industries Announces Collaboration with Artificial Intelligence Thought Leaders and the Launch of PsyAI™
December 17, 2020
Enveric Biosciences – Clinical Development of Cannabinoids and Psychedelics
This letter to shareholders contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements with respect to: the completion and anticipated timing of the Amalgamation; the Company’s expectations and anticipated business development plans in connection with the Amalgamation including but not limited to: access to additional capital, development and implementation of the PsybraryTM and PsyAITM; filing additional patents, ramping up efforts to establish key biotechnology and pharmaceutical partnerships, and expansion of MagicMed’s management, science and business development teams. Forward-looking statements include words or expressions such as “proposed”, “anticipated”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Some of the risks and other factors could cause results to differ materially from those expressed in the forward-looking statements which include, but are not limited to: that the Amalgamation will not complete as anticipated by management or at all; the Company will not be successful in implementing its business development plans in connection with the Amalgamation including but not limited to: not increasing access to additional capital, not being able to further develop and implement the PsybraryTM and PsyAITM; not filing additional patents, unsuccessfully ramping up efforts to establish key biotechnology and pharmaceutical partnerships, and unsuccessfully expanding MagicMed’s management, science and business development teams. The forward-looking information contained in this letter is expressly qualified by this cautionary statement. We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
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