VANCOUVER, BC / ACCESSWIRE / May 15, 2020 / EGF THERAMED HEALTH CORP. (CSE:TMED / OTCQB:EVAHF / FRANKFURT:AUHP) (the "Company") today announces the appointment of George Anstey, a cannabis industry specialist, to the Company's Board of Directors. Jeff Lipton has stepped down from the board to allow space for this appointment.
Mr. Anstey has well-rounded and lengthy experience in the cannabis industry, which continues to grow rapidly throughout North America, operating in extraction, production, and supply. Among his roles were working with commercial license holders such as Broken Coast Cannabis, which was acquired by Aphria in 2018 for C$230 million. He now consults on compliance matters for early-stage cannabis companies, helping these businesses to navigate license application requirements set by Health Canada. These skills have been easily transferred to the psychedelics market, where he serves as CEO of Pharmadelic Labs, a psilocybin biosynthesis research company in which the Company holds a 30% stake. George's appointment gives the Company an experienced voice as it expands operations.
The opportunities afforded by the role excited Mr. Anstey, who commented: "I spent an inordinate time in this field and, based on the existing lab assets that TMED has in Las Vegas, I feel that I can assist the Company to optimize the utility of this asset to build further value for our shareholders."
The Company is pleased to welcome Mr Anstey's experience. David Bentil, CEO of TMED, stated: "George brings great experience leading companies in both the cannabis and psychedelic markets. His skills are very desirable and with his input we are confident the Company will grow from strength to strength. We would like to thank Jeff Lipton for his services to the Company."
ABOUT PHARMADELIC LABS CORP.
Pharmadelic Labs Corp. is a Nevada biotech company using state-of-the-art technology to create biosynthesis pathways for psilocybin. By editing the genome sequences of industrial brewing yeasts, the company is creating commercially viable compounds derived from psilocybin. The main advantages of this method are threefold: it is significantly quicker than growing and then extracting from mushrooms (days rather than weeks); very safe, through the use of GRAS (Generally Recognized As Safe) products ready for use in industry; it ensures a controlled and uniform level of psilocybin throughout the finished product; and is much cheaper to produce on a mass scale than greenhouse growing.
Pharmadelic Labs aims to develop a portfolio of intellectual property around biosynthesis pathways using yeast and psilocybin. The company will be working with a wide range of partners across multiple industries, starting with pharmaceutical companies creating products for the nascent psychedelics market.
ABOUT EGF THERAMED HEALTH CORP.
(CSE:TMED / OTC:EVAHF / FRANKFURT:AUHP)
EGF Theramed is a consumer technology company engaged in the provision of biomedical online services for monitoring and treating common health problems. The Company, through its subsidiaries, has assets and technologies used in the extraction and purification of botanical extracts and the creation of extract formulations, as well as medical monitoring device technology. The Company is working to collaborate with other companies for medical technology, equipment protocols and laboratory SOPs.
Through the Company's recent acquisition of a 30% equity interest in Pharmadelic Labs Corp. it has begun to research psilocybin and psychedelic extraction and processing for its Las Vegas extraction lab.
FOR MORE INFORMATION PLEASE CONTACT:
EGF THERAMED HEALTH CORP.
Email: [email protected]
Telephone: (778) 331 8505
US OTC Markets (OTCQB): http://www.otcmarkets.com/stock/EVAHF/news
Frankfurt Borse: https://www.boerse-frankfurt.de/equity/egf-theramed-health-corp
PHARMADELIC LABS CORP.
George Anstey, CEO
Email: [email protected]
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to the expansion of its IP claims in Canada, the United States and other jurisdictions, information surrounding the psilocybin market, as well as the business plans of Pharmadelic Labs Corp. and the Company. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE: EGF Theramed Health Corp.