Liberty Leaf Holdings (CSE:LIB) trading at 0.07 cents, announced today they are making the transition to psilocybin, by acquiring Nova Mentis Biotech Corp (NOVA), who together will focus on psilocybin research for the potential treatment of diabetes and obesity in relation to depression.
Depression is often coupled with metabolic indications as a comorbidity, as 43% of depressed people are categorized as obese. NOVA is exploring the possibility that psilocybin can not only help with mental health of individuals, but also aid in the physical health of people suffering from obesity and diabetes. While other psilocybin research has largely focused on the brain’s serotonin receptors interacting with the psychedelic compound, NOVA’s research focuses on the serotonin receptors in the gut, and their communication pathways with the brain.
We will be initiating coverage on this story today. A representative of the Mushroom Stock Index will be speaking with Dr. Aylia Mohammadi of NOVA, who has a PhD in Biological Physics, to better understand NOVA’s unique approach to understanding the effects of psilocybin. We will report on our discussion as soon as possible for our readers.
Liberty Leaf is worth roughly $17-18 million after this transaction, adding $1.2 million CAD to its treasury. Note that most recently, Compass Pathways, who focuses on psilocybin as a method of treating depression, raised $80 million at an $800 million valuation. Clearly, there should be some short-term upside on LIB entering this space.