MINDCURE Announces Additional Equity Investment in ATMA; Kelsey Ramsden Named to ATMA Board of Directors
ATMA Was The First Private Sector Service Provider In Canada Conducting Legal Psychedelic-Assisted Therapy For A Palliative Care Patient Under The Approval Of Health Canada’s Section 56(1) Exemption
Mind Cure Health Inc. (CNSX: MCUR) (OTCMKTS: MCURF) a leader in advanced proprietary technology for psychedelic therapy, is pleased to announce a further strategic equity investment in ATMA Journey Centers Inc. (“ATMA“). This follow-on investment enables MINDCURE to retain its 13% ownership of ATMA, in accordance with the terms of the letter of intent (the “LOI“) announced on January 12, 2021. Additionally, MINDCURE President and CEO Kelsey Ramsden will be joining the ATMA Board of Directors.
We are extremely excited to strengthen our partnership with the team at ATMA through this investment. This further solidifies the Company’s strategic position in clinics and partnerships for the deployment of digital therapeutics to drive near-term revenues. ATMA’s team is a true pioneer in the psychedelic therapy industry by growing a global network of group and retreat psychedelic therapy clinics. ATMA’s established clinical footprint gives us the opportunity to deploy our iSTRYM technology, with the intended goal to optimize treatment for ATMA’s patients and obtain the data we need to build iSTRYM into the platform trusted by therapists and patients around the world.Kelsey Ramsden, President and CEO, MINDCURE
iSTRYM is an investigating technology that focuses on patient feedback and data-driven insights into the efficacy of treatments in order to assist in the application of more effective and more efficient diagnosis techniques and treatments. It’s a technology that is targeted for both therapists and patients.
As first stated in the LOI on January 12, 2021, MINDCURE’s investment into ATMA will facilitate the syndication of Mind Cure’s psychedelic drug protocols and the use of MINDCURE’s proprietary AI-driven platform, iSTRYM, to optimize treatment for ATMA clients.
“We are thrilled today to welcome a visionary leader like Kelsey to our Board of Directors,” said Vu Tran, Co-CEO of ATMA. “We are eager to get to work with the MINDCURE team to help establish the industry-standard protocols and digital tools to better help patients in need and the therapists that serve them.”
The strategic investment was comprised of a purchase of $350,000 of ATMA’s Series A Preference shares as part of ATMA’s Series A financing. MINDCURE satisfied the aggregate subscription price through the issuance of 796,541 common shares in its capital at an agreed-upon price of $0.4394 per share, being the 10-day volume-weighted average trading price of the common shares on the Canadian Securities Exchange.
About ATMA Journey Centers Inc.
ATMA is a private healthcare company with the mission of delivering effective and innovative healing and transformative experiences that awaken the inner healer and promote a deeper connection with the self, with others, and with the beauty of the world. ATMA was the first private sector service provider in Canada to announce conducting legal psychedelic-assisted therapy for a palliative care patient under the approval of Health Canada’s section 56(1) exemption. Our team members collectively have over 100 years of experience in the disciplines of medicine work, integration, therapy and personal development.
The ATMA Journey Team is comprised of medical professionals, management staff and advocates who believe that psychedelic and non-traditional medicines have an important role to play in the healing and transformation of humankind. We believe that the current approaches to mental and emotional struggles are simply not enough and that psychedelics hold the key to actually resolving the root causes of mental health issues that affect so many. The ATMA Team is deeply committed to creating and delivering the most effective long-term healing and transformation program available.
The Company has entered into an agreement with Psychedelic Finance to provide services relating to social media support and strategic media services for a six month term beginning in April, 2021. The Company has agreed to pay a total of CDN$60,000 for the services to be provided during the term.
About Mind Cure Health (MINDCURE) Inc.
MINDCURE exists as a response to the current mental health crisis and urgent calls for effective treatments. MINDCURE believes in the need to reinvent the mental health care model for patients and practitioners to allow psychedelics to advance into common and accepted care.
MINDCURE is focused on identifying and developing pathways and products that ease suffering, increase productivity, and enhance mental health. MINDCURE is interested in exploring diverse therapeutic areas beyond psychiatry, including digital therapeutics, neuro-supports, and psychedelics, all to improve mental health.
To view the original press release in its entirety click here