Mainstream acceptance of psilocybin took a major step forward on November 3 when Oregon became the first U.S. state to legalize the use of the compound in a therapeutic setting. Psilocybin is the active ingredient in "magic mushrooms."
Some cities, such as Denver and Oakland, Calif., had already decriminalized psilocybin use.
Studies suggest psychedelic drugs could provide relief for depression, anxiety, addiction and PTSD, and world-leading research institutions such as Johns Hopkins University have been conducting research and trials of psychedelic drugs.
Against this backdrop, Delic Corp. (DELC:CSE) becomes the latest psychedelic company to publicly trade. The firm is expected to begin trading on the Canadian Securities Exchange on November 18, under the symbol DELC, via a reverse takeover of Molystar Resources Inc.
Delic sees itself as an umbrella media platform. It currently has three subsidiary companies: a revenue generating e-commerce lifestyle brand named "The Delic," a free public education platform providing psychedelic guides, news and culture known as "Reality Sandwich," that offers more than 5,000 articles and other content, and "Meet Delic," a biannual psychedelic wellness summit with the first set for Los Angeles in May 2021.
Founded by the husband and wife team of Matt and Jackee Stang, both served in high-level positions at High Times, bringing cannabis into the mainstream. The couple aim to do the same with psychedelics.
"There is so much groundbreaking research being done about psychedelics and their effectiveness to treat mental health and positively impact other human functions. Translating that (often) dense information to a mainstream audience is the difficult part. No one was doing it. That's where Delic began, in 2018," Delic President and CEO Jackee Stang wrote.
Delic has issued 17.25 million shares at CA$0.20 per share, raising approximately CA$3.45 million. It is expected that approximately 54 million shares will be outstanding at the time of the listing, leading to a market cap of approximately CA$10.85 million.
[NLINSERT]Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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