Vancouver, British Columbia, February 6, 2023– Global Wellness Strategies Inc. (CSE:GWS) (Frankfurt:O3X4) (OTCQB: GWSFF) (“Global” or the “Company”) is positioned to become an MDMA and Psilocybin leader. The Company applauds Australia for acknowledging the benefits of psychedelics and recognizing MDMA and Psilocybin as medicines.
GWS’ 100% owned Melbourne based subsidiary Shanti Therapeutics is pleased to support Australia’s Therapeutic Goods Administration (“TGA”) and their researchers who approved the psychedelic substances in magic mushrooms and MDMA for use by people with certain mental health conditions. The changes will allow MDMA to be used to treat post-traumatic stress disorder, and psilocybin for treatment-resistant depression. This decision follows other recent legislation, and although the country still does not have MDMA products to treat patients it is a bold step forward for TGA. With this decision on psychedelics, the Administration also placed limits on paracetamol access meaning people wanting pack sizes of more than 32 capsules or tablets (up to 100 tablets) will have to request them from the pharmacist. This decision intends to strike a balance between minimizing the incidence and harm from intentional self-poisoning and access to paracetamol for the treatment of acute and chronic pain.
Shanti Therapeutics’ focus is finding a solution to chronic pain with MDMA, which is quickly being highlighted as the precursor to mental illness and depression in many patients. The new approval by TGA gives Shanti a true advantage as an Australian based psychedelic company. Shanti is a first-in- class biotech utilizing the neuromodulation properties of MDMA (aka Ecstasy) to pre-emptively treat preoperative pain. Shanti has commenced a path to their clinical trial in 22 healthy volunteers comparing the pain tolerance threshold in patients who have had exposure to a proprietary dose and formulation of MDMA. This proof-of-concept clinical study is to gauge the effect size of an increase in the pain threshold in subjects who have been pre-emptively treated with MDMA.
“The Company subsidiary Shanti Therapeutics is focused on its MDMA clinical trials to solve the puzzle of chronic pain in Australia, and GWS’ brand KaleidoMyco continues to develop formulaes and products with functional and psilocybin mushrooms.” said Meris Kott, CEO, Global Wellness Strategies Inc.
Global Wellness Strategies is a prospect generator that provides high growth companies with financial, operational, and management assistance in the fast-growing market for wellness consumer products. The focus of the Company is on global wellness, psychedelics, mycology, hemp and CBD, healthcare- related target companies.
For further information visit websites:
www.globalwellnessstrategies.com and www.shantitherapeutics.com Or Contact Meris Kott CEO 604.484.0355 or email to [email protected]
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, its financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
