Champignon to Begin Offering Esketamine Treatment for Adults With Major Depressive Disorder at the Canadian Rapid Treatment Centre of Excellence - Seite 2

In connection with the review, on August 26, 2020, the BCSC revoked the cease trade order previously issued against the Company on June 19, 2020, following the filing of business acquisition reports in connection with the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp.  Concurrently with the revocation, the BCSC issued a replacement order which will remain in effect pending the filing of an amended material change report in connection with the acquisition of AltMed Capital Corp.

Interim Financial Statements

The Company also announces it will rely on the blanket relief granted by the Alberta Securities Commission Blanket Order 51-517, Temporary Exemption from Certain Corporate Finance Requirements (“BO 51-517”), BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”), and Ontario Instrument 51-502, Temporary Exemption from Certain Corporate Finance Requirements (“OI 51-502”), in respect of the filing of its interim financial statements for the period ending June 30, 2020, including the accompanying management’s discussion and analysis and related CEO and CFO certifications (collectively, the “Required Filings”).

The Company is working to complete the Required Filings, and addressed comments raised by the BCSC in the course of their disclosure review, within the time period of the extension.  In the interim, all shareholders, including members of the Company’s management and other insiders are subject to a cease trade order issued by the BCSC.  The Company confirms that since the filing of its interim consolidated financial statements for the period ended March 31, 2020, there have been no material developments other than those disclosed through news releases or through disclosure filings completed by the Company on SEDAR (www.sedar.com).

¹ The effect of bipolar I disorder and major depressive disorder on workforce function
McIntyre, R S, MD, FRCPC;Wilkins, K, MSc;Gilmour, H, MA;Soczynska, J K, HBSc;Konarksi, J Z, MSc;M... Chronic Diseases in Canada; 2008; 28, 3
²Economic and humanistic burden associated with noncommunicable diseases among adults with depression and anxiety in the United States. Armbrecht E., Shah A., Schepman P., Shah R., Pappadopulos E., Chambers R., Stephens J., Haider S., McIntyre R. S. J Med Econ. 2020;1-11

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: [e-mail]