Goodness Growth Holdings subsidiary Resurgent Biosciences announces planned expansion into psychedelics research and IP development
Goodness Growth Holdings, Inc. (“Goodness Growth” or the “Company”) (CSE: GDNS; OTCQX: GDNSF), a physician-led, science-focused cannabis company and IP incubator, today announced that its subsidiary, Resurgent Biosciences (“Resurgent”), plans to expand its intellectual property development and clinical research efforts into psychedelic medicine. Resurgent is a non-plant/fungus touching-entity and does not intend to engage directly in the cultivation, manufacture, or distribution of any psychedelics.
“Our formation of Resurgent Biosciences was a strategic move to separate our multi-state cannabis company from the non-plant-touching, ancillary business opportunities within our intellectual property portfolio,” said Chairman and Chief Executive Officer, Kyle Kingsley, M.D. “Resurgent has proven its ability to conduct clinical research of medicinal plants in partnership with leading hospitals across the United States, and we have also made substantial progress to commercialize several of the technological innovations in our IP portfolio, including our patent-pending TerpSafe™ packaging technology and multi-channel vaporizer.”
Kingsley continued, “Resurgent’s expansion into psychedelics represents a natural extension of our team’s medical and scientific expertise, and frankly, we believe the opportunities for psychedelics to transform the future of mental health and psychiatry are far too significant for us to ignore. We believe the formation of clinical research partnerships to prove efficacy of psychedelic therapies, and the pursuit of novel technologies and applications which could make psychedelic medicine more accessible and affordable for patients and healthcare providers, could drive substantial value creation for our shareholders in the future.”
Launch of TerpSafe™ Technology to Broader Markets
The Company also announced the launch of its TerpSafe™ packaging technology to broader cannabis markets across North America. TerpSafe™ packaging was designed for consumers who demand ultimate freshness of cannabis flower, and its technology has been proven to preserve 100 percent of the terpene content of flower for more than six weeks, compared to a control group which lost more than 30 percent of terpene content within four weeks of packaging.
TerpSafe™ packaging represents the first commercialized product available for sale from the Resurgent Biosciences IP portfolio, and it is being manufactured and distributed under a licensing agreement with eBottles420, the largest supplier of cannabis packaging in North America. This novel packaging technology is now available in the Company’s cannabis markets in Arizona and Maryland under the Amplifi™ brand of flower and will soon be expanding to additional markets nationwide. Interested parties who would like to learn more about TerpSafe™ packaging are encouraged to visit http://tryterpsafe.com.
2021 Investor Day Conference Call and Webcast
Later today, Goodness Growth Holdings management will host a live conference call and webcast with the investment community to discuss these updates in conjunction with its 2021 Investor Day events. All interested parties are invited to join by registering in advance using the registration links contained in this news release. Webcast replays of these events will also be posted to the Company’s Investor Day page of its corporate website at www.goodnessgrowth.com.
2021 Investor Day Conference Call and Webcast
Date: Wednesday, June 9, 2021
Time: 8:30 a.m. Eastern Time
Conference Call Registration: http://www.directeventreg.com/registration/event/2871533
About Goodness Growth Holdings, Inc.
Goodness Growth Holdings, Inc., is a physician-led, science-focused holding company whose mission is to bring the power of plants to the world. The Company’s operations consist primarily of its multi-state cannabis company subsidiary, Vireo Health, and its science and intellectual property incubator, Resurgent Biosciences. The Company manufactures proprietary, branded cannabis products in environmentally friendly facilities, state-of-the-art cultivation sites and distributes its products through its growing network of Green Goods™ and other retail locations and third-party dispensaries. Its teams of more than 500 employees are focused on the development of differentiated products, driving scientific innovation of plant-based medicines and developing meaningful intellectual property. Today, the Company is licensed to grow, process, and/or distribute cannabis in eight markets and operates 16 dispensaries across the United States. For more information about Goodness Growth Holdings, please visit www.goodnessgrowth.com.
Forward-Looking Statement Disclosure
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Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, risks related to the timing of adult-use legislation and operating frameworks in markets where the Company currently operates; current and future market conditions, including the market price of the subordinate voting shares of the Company; risks related to the COVID-19 pandemic; federal, state, local, and foreign government laws, rules, and regulations, including federal and state laws in the United States relating to cannabis operations in the United States and any changes to such laws; operational, regulatory, and other risks; execution of business strategy; management of growth; difficulty to forecast; conflicts of interest; risks inherent in an agricultural business; liquidity and additional financing; and risk factors set out in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, which is available on EDGAR with the U.S. Securities and Exchange Commission and filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.
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