Liberty Leaf has changed its name to Nova Mentis Life Sciences, and completed a reverse stock split, four shares for every one share, amounting to 60,881,533 common shares. $LIB will now be traded under the symbol $NOVA on the CSE. Just before the close, it has traded up 30% to 0.29 cents, albeit on low volume.
Nova Mentis is led by Dr. Aylia Mohammadi, the first female president of a Psychedelic BioTech. She’s an expert on gut health, with knowledge and experience on diabetes and obesity. Mohammadi will be conducting two simultaneous research studies on how psilocybin interacts with serotonin receptors in the gut, and the potent anti-inflammatory response of the body, for details, see our report from June 23, 2020.
Within the coming years, in the event that psilocybin is reclassified from Schedule 1 to perhaps Schedule 3 or 4, or even one day legalized, the early movers in the space should reap the benefits. For investors who missed the ground floor of Cannabis between 2015-2017, psychedelic stocks look to be the next wave, with over $320 million of funding raised in 2019 and 2020.
Investors should keep an eye out for news on this emerging deal in the coming months.